At 8 a.m., here are the latest news: The investigation results of the crowd crush tragedy in Itaewon, South Korea, have been released; iPhone may skip the 19 series and directly launch the 20 series; Zhang Xuefeng went live to respond to his account being blocked.
Today's Hot Topics Guide
VP of Xiaomi Auto Denies Promotion of "SOS Connects in 1 Second"
Cai Guoqiang Holds a Fireworks Show in Paris, France
JD.com Responds to the Sky - high Price of 78.19 Million for Car No. 001
Wahaha Distributors Receive Notice: Sell Wahaha, Not Wahaxiaozong Next Year
China Telecom Responds to the Rule that Those Over 60 Can't Apply for eSIM Cards
Top 3 Big News
Investigation Results of the Crowd Crush Tragedy in Itaewon, South Korea Released: Insufficient Police Deployment at the Time of the Crush
On October 23, the South Korean government announced the main cause of the crowd crush tragedy in Itaewon. When the crush occurred, the police failed to deploy enough police forces in the Itaewon area, which is related to the relocation of the presidential office to Yongsan by the former President Yoon Suk-yeol's government. According to the Office for Government Policy Coordination, the government conducted a joint audit of the National Police Agency, the Seoul Metropolitan Government, and the Yongsan District Office starting in July this year and announced the results on the same day.
The Office for Government Policy Coordination of South Korea said that the police lacked obvious prior preparations for the "foreseeable large-scale crowd gathering," and the relocation of the presidential office to Yongsan "did have an impact." On the day of the tragedy, the police concentrated a large number of police forces on the management of rallies near the presidential palace but did not deploy any security forces around Itaewon. Although the police high - ups were aware of the situation, they only raised questions and did not take any practical countermeasures.
The Office for Government Policy Coordination finally said that it hopes the results of this investigation "will help dispel the doubts of the victims' families and the public." On the evening of October 29, 2022, a serious crowd crush accident occurred in Itaewon, Yongsan District, Seoul. According to the statistics released by the Ministry of the Interior and Safety of South Korea on the 3rd of this month, the accident caused 159 deaths and 196 injuries. (Xiaoxiang Morning News)
iPhone Naming May Skip 19, and iPhone 20 to Be Launched in 2027
According to the latest industry forecast, the iPhone to be launched by Apple in 2027 will be named "iPhone 20". Heo Moo-yeol, the chief researcher at Omdia, said at a conference in the suburbs of Seoul, South Korea on the 22nd, "Apple plans to release the iPhone 18e and the standard version of the iPhone 20 in the first half of 2027, and launch the iPhone 20 Air, iPhone 20 Pro, iPhone 20 Pro Max, and iPhone Fold 2 in the second half." However, the researcher didn't explain why Apple changed the naming. But the industry generally believes that this change is related to the fact that 2027 marks the 20th anniversary of the iPhone's debut. Apple may take this opportunity to readjust the product naming, model positioning, and release schedule. (IT Home)
Zhang Xuefeng Responds to Account Ban in a Live Stream
On October 22, the topic "Zhang Xuefeng's account unblocked" trended on social media. On the evening of the 22nd, Zhang Xuefeng resumed his live - streaming on his Douyin account "Zhang Xuefeng Talks about College Entrance Planning", with over 40,000 people watching online. During the live stream, Zhang Xuefeng said, "I'm back, and everything is fine. Actually, a month ago, I knew that there would be no problems a month later. However, there were all sorts of wild speculations and chaotic discussions online, and none of them were correct." On October 22, Zhang Xuefeng posted a Weibo, which was his first post since his account was restricted from being followed. On social platforms such as Xiaohongshu and Bilibili, Zhang Xuefeng's accounts can now be followed normally. (Observer.com)
Big Companies/Big Events
Xiaomi Auto Vice President Denies Promotion of "SOS Connected in 1 Second": It's a Smear by Rumor, and Legal Action Will Be Taken
36Kr learned that in response to the recent online rumors about content such as "Xiaomi Auto's SOS can be connected in 1 second without queuing time," Li Xiaoshuang, the vice president of Xiaomi Auto, posted a statement saying that the content was completely false. The company has never made such a promotion at press conferences or in promotional materials. It is a smear of Xiaomi Auto through AI - generated rumors. The company has preserved evidence of this content and will firmly pursue legal liability against the relevant responsible parties.
Jewelry from the Louvre Appears on Second - hand Trading Platform, Xianyu Customer Service Says It Can Be Reported
The sale of "authentic Louvre" jewelry on the second - hand trading platform has attracted a great deal of attention. On October 23, Jiemian News searched on Xianyu and found that there were multiple sales links for Louvre jewelry on the platform. Among them, a product labeled as an "authentic Louvre crown" was priced at 9,999,999 yuan, and the link copy stated that it was "9.9 - new and is now for urgent sale", etc. This crown product also appeared in multiple sales links, with the highest price tag being 99,999,999 yuan.
At present, it is still impossible to confirm that these sold products are genuine. Some analysts believe that before official information is confirmed, it should be assumed that this is false advertising. According to the Modern Express, when reporters reported the above - mentioned information about the sale of "Louvre jewelry" to the Xianyu platform, the customer service responded that the platform's big data is also being monitored from multiple dimensions. If users see such products, they can directly initiate a report on the page, and manual specialists will intervene for further review and processing. (Jiemian News, Modern Express)
Cainiao Officially Enters the "One-Hour Delivery" Era
36Kr learned that recently, multiple media reported that Cainiao's supply chain business has joined Taobao Flash Sale to provide the "warehousing and distribution one-hour delivery" service. On-site visits revealed that Cainiao has progressed from "delivery the day after tomorrow" to "delivery the next day" and then to "half-day delivery", and has officially entered the "one-hour delivery" era. Currently, Cainiao's warehousing and distribution one-hour delivery service "tailor-made" for Taobao Flash Sale is accelerating its expansion to core cities in China, covering multiple categories such as food, beauty and personal care, home appliances and digital products, and clothing.
Cai Guoqiang Holds a Fireworks Show in Paris, France
On October 22nd, the Centre Pompidou in Paris is preparing to close for a five - year renovation project. At the very last moment before its closure, artist Cai Guoqiang bid farewell to Paris with a "daytime fireworks" display. He transformed the entire exterior wall of the Pompidou into a giant canvas, and the performance "The Last Revelry", which combines tradition and technology, lit up the Paris sky. In addition, Art Basel Paris announced the cancellation of the dialogue event "Stirring New Horizons: Cai Guoqiang and the Cartier Foundation", which was originally scheduled to be held at the fair on the afternoon of October 23rd local time. Currently, information about this event has been removed from the official websites of Art Basel and the Cartier Foundation. The Centre Pompidou, fully known as the Centre National d'Art et de Culture Georges - Pompidou, is located in Paris, France. It is a world - famous modern art museum and cultural landmark. (China Newsweek)
Official Announcement of the Name "JD Auto": Aion UT super
On October 23rd, the name of the "People's Good Car" jointly launched by JD, CATL, and GAC Group was officially announced. The new car is named "Aion UT super". It is reported that this vehicle is equipped with the "GAC Huawei Cloud Car Infotainment System" technology and a large battery with a 500KM range, which can be charged or swapped. In addition, it also has the "Reverse Sentinel" function, which can automatically brake when encountering obstacles while reversing. (Jiemian News)
Guest Exposed for Bribery, Second Episode of "Love, Bye Bye 5" Delayed
Recently, Lu Xing, the husband of Deng Sha, an actress and one of the guests on "Love, Bye Bye 5", was exposed for bribing a retired cadre with nearly 10 million yuan worth of stocks and cash. According to previous reports, Lu Xing's company's backdoor listing was accompanied by a bribery incident. In July this year, a criminal judgment released by the China Judgments Online showed that he had given retired cadre Shi Mouyan 31.41 million shares of Chuanglian Holdings worth 8.1244 million yuan, 1.6 million yuan in cash, and Fuka worth 470,000 yuan. On October 17, Chuanglian Holdings issued an announcement stating that Lu Xing had resigned as the executive director and chairman of the board of Chuanglian Holdings Co., Ltd. due to his desire to devote more time to his personal business development. The resignation took effect on October 17, 2025. (Jiemian News)
JD.com Responds to the Sky - high Price of 78.19 Million Yuan for Car No. 001
After car No. 001 was auctioned off at a “sky - high price” of 78.19 million yuan, JD Auto made a response. On October 23, JD Auto's official Weibo account posted a message saying that they didn't expect the auction of JD's No. 001 “National Good Car” to arouse such enthusiastic attention. To express gratitude for the attention, they will give each user who participated in the auction and placed a bid additional rights and interests such as a new - car gift package worth 399 yuan for the “National Good Car” after they purchase a car. They will also give a car to the user whose bid is closest to the final released price of the vehicle. JD Auto also said that consumers can participate in the new - product lottery on the JD APP and have a chance to get a free 5 - year usage right of the “National Good Car”. (Yicai Global)
Can't apply for an eSIM card if you're over 60? China Telecom responds
On October 22, the iPhone Air was officially launched. However, some netizens posted that after buying the phone and going to a China Telecom business hall to apply for the eSIM service, they were rejected because they were "over 60 years old". In response, a staff member at a China Telecom business hall in Hangzhou said that they received a notice on October 22 stating that users applying for eSIM cards must be between 18 and 60 years old. The staff member said, "There was indeed a user who came to apply, but since they were over 60, the system couldn't input the information."
Jiemian News called China Telecom's customer service hotline. The customer service explained that this restriction does exist at present, but they said it was because the system is currently being upgraded and maintained. "Currently, the eSIM service is still in the trial - operation phase. Starting from October 24, it will resume handling applications for the elderly over 60." (Jiemian News)
The three major U.S. stock indexes closed higher collectively, with Tesla rising more than 2%
36Kr learned that at the close on October 23, the three major U.S. stock indexes rose collectively. The Dow Jones Industrial Average rose 0.31%, the Nasdaq Composite rose 0.89%, and the S&P 500 Index rose 0.58%. Most large technology stocks rose. Tesla rose more than 2%, Amazon and NVIDIA rose more than 1%, while Apple, Google, and Meta rose slightly. Netflix fell slightly. Most popular Chinese concept stocks rose. Alibaba rose more than 3%, JD.com, Pinduoduo, and Baidu rose more than 2%, and iQiyi, NetEase, Weibo, Li Auto, and XPeng Motors rose more than 1%.
Wahaha distributors receive notice: Sell Wahaha instead of Wah Xiaozong next year
After the resignation storm of Zong Fuli, there is finally an answer to whether distributors should continue with "Wahaha" or go solo with "Wah Xiaozong". According to a Wahaha distributor in Shandong, they have received a notice from salesmen of the Hongsheng Group, which is controlled by Zong Fuli. The notice requires distributors to make payments and pay a deposit to continue selling products under the "Wahaha" brand next year. (Yicai Global)
The number of subsidy applications for nationwide automobile trade - ins in 2025 exceeded 10 million
According to the Ministry of Commerce, as of October 22, the number of subsidy applications for automobile trade - ins in 2025 exceeded 10 million. Among them, over 3.4 million were for automobile scrapping and replacement, and over 6.6 million were for trade - in replacement.
The automobile trade - in policy has effectively promoted the green transformation. In the automobile trade - ins in 2025, new energy vehicles accounted for 57.2%, driving a 24.4% year - on - year increase in the retail sales of new energy passenger vehicles from January to September, with a market penetration rate of 52.1%. In September, the market penetration rate reached 57.8%, achieving seven consecutive months of growth. Meanwhile, the level of resource recycling has also been continuously improving. In the first three quarters of this year, the number of scrapped automobiles recycled was 7.345 million, a year - on - year increase of 47.9%. According to estimates by relevant institutions, a total of about 7.1 million tons of steel, 920,000 tons of aluminum, and 930,000 tons of plastic can be recycled, promoting carbon reduction of over 21 million tons. (CCTV News)
Nexperia China: The relevant decisions made by the Dutch headquarters have no legal effect within China, and Zhang Qiuming's position remains unchanged
On October 23, the official WeChat account of Nexperia Semiconductor (China) Co., Ltd. issued a solemn statement regarding the validity of Mr. Zhang Qiuming's position as the Vice President of Global Sales and Marketing at Nexperia Semiconductor.
It mentioned that to ensure the business continuity and management stability of Nexperia Semiconductor in the global and Chinese markets, in accordance with relevant laws, regulations, and administrative guidance spirit of the People's Republic of China, Nexperia Semiconductor (China) Co., Ltd. (hereinafter referred to as "Nexperia China") hereby issues the following official statement regarding the recent unilateral dismissal of Mr. Zhang Qiuming from his position as the Vice President of the Sales and Marketing Department by the Dutch headquarters: 1. The relevant decisions made by the Dutch headquarters have no legal effect within China; 2. Zhang Qiuming's position remains unchanged; 3. Mr. Zhang Qiuming's actions within the scope of his authority represent Nexperia China; 4. The business operations of Nexperia China are all normal. At present, all business activities, production operations, and external cooperation of Nexperia China are carried out in an orderly and normal manner within the framework of laws and management systems, and are not affected by any external unilateral decisions. We are fully capable of ensuring the continuity and stability of our business. (Jiemian News)
Apple Reportedly Considering Acquiring Warner Bros. to Expand Apple TV's Streaming Lineup
According to a Bloomberg report on the 23rd, Apple is considering acquiring streaming giant Warner Bros. to expand the film and television lineup of Apple TV. However, there are other giants in the market such as Amazon and Paramount eyeing the deal and actively participating in the bidding. Warner Bros. CEO David Zaslav has reported the relevant plan to the company's senior management. Previously, Warner Bros. rejected two offers from Paramount's subsidiary Skydance, citing the low bids as the reason. A source said that Warner Bros. will ask interested bidders to sign confidentiality agreements within a few days to share sensitive business data before the formal bidding war begins. (Sina Tech)
Sunwoda Unveils New Generation of Solid-State Batteries with Energy Density of 400Wh/kg
On October 23rd, at the 2025 New Energy Battery Industry Development Conference, Sunwoda launched a new generation of polymer all-solid-state battery called "Xin·Bixiao". It has an energy density of 400Wh/kg and a cycle life of 1,200 cycles under an ultra-low external pressure of <1MPa. Sunwoda expects to complete the construction of a 0.2GWh pilot production line for polymer solid-state battery cells by the end of this year. Relevant senior executives of Sunwoda said that the company has also successfully developed and tested laboratory samples of lithium-metal super batteries with an energy density of 520Wh/kg. (Yicai Global)
South Korea to Mandate Installation of Devices to Prevent Accidental Pressing of Accelerator Pedals in Cars from 2029
The South Korean Ministry of Transport said on the 23rd that starting from 2029, new passenger cars and light commercial vehicles in South Korea will be required to be equipped with systems to prevent pedal misuse in order to reduce accidents caused by accidental acceleration. According to the government's plan to revise automobile safety standards, starting from January 2029, all newly manufactured or imported passenger cars will be mandated to install such devices. The South Korean government aims to expand the scope of application to vans, trucks and special vehicles weighing less than 3.5 tons starting from January 2030. (Sina Finance)
General Motors Promises "Eyes-Off" Driving by 2028
General Motors plans to offer "Hands-Off" driving features and the freedom to watch movies during trips to U.S. consumers. At an event held in New York on the 22nd local time, the company's executive team announced a new technology plan, which includes the "Eyes-Off" driving technology to be launched in 2028 - meaning drivers won't need to keep their eyes on the road continuously. General Motors also said that it plans to introduce conversational artificial intelligence technology into vehicles next year. (Sina Finance)
Boeing Appoints Lu Yiming as President for China
Boeing has appointed Lu Yiming (Landon Loomis) as President for Boeing China, effective immediately. The former President for Boeing China, Liu Qing, has retired. Lu Yiming will be responsible for the company's daily operations, strategy, partnerships, and high - level government relations in China. Since 2022, Lu Yiming has served as President for Boeing Latin America and the Caribbean, CEO of Boeing Brazil, and Vice President of Global Policy. In his new position, he will also continue to serve as Vice President of Boeing Global Policy, responsible for coordinating Boeing's government affairs and policy work in international markets. (Yicai Global)
Elon Musk Defends His Sky - High Pay Package at the End of Tesla's Earnings Conference Call
Near the end of Tesla's earnings conference call, Elon Musk once again called on investors to support his $1 - trillion pay package and strongly criticized the shareholder advisory firms that oppose the pay plan. As the 75 - minute conference call was drawing to a close, Musk said, "I think there needs to be enough voting control to ensure that I have some influence, but not so much that I can't be fired if I go crazy." (Sina Finance)
Musk: Samsung Electronics to Produce Tesla's AI5 Chip Alongside TSMC
Musk told investors in a conference call that Samsung will share the manufacturing responsibility for Tesla's current - generation artificial intelligence chip, the AI5. Previously, he had said that this chip would be produced by TSMC, the world's largest semiconductor foundry. Musk said during Tesla's Q3 earnings conference call, "I need to clarify some of my previous public statements. In fact, we will initially have both TSMC and Samsung focus on the AI5 project." (Sina Finance)
The Cutting - Edge of AI
Reddit Sues AI Startup Perplexity, Alleging Data Theft for AI System Training
It is reported that on October 22 local time, social media platform Reddit filed a lawsuit against US artificial intelligence startup Perplexity in a New York federal court, accusing the company and three other enterprises of illegally scraping data from the Reddit platform to train Perplexity's AI-based search engine. (Jiemian News)
NetEase Youxin Releases Panoramic Map of Intelligent Converged Communication Capabilities
36Kr learned that on its 10th anniversary, NetEase Youxin announced a brand upgrade and officially released a new brand positioning and a number of AI products and applications. At the meeting, NetEase Youxin released a panoramic map of intelligent converged communication capabilities and focused on releasing application scenarios in segments such as emotional companion agents, embedded real-time dialogue solutions, collaborative office digital employees, and AI tender review assistants in fields including pan-entertainment, smart hardware, and enterprise office.
ByteDance Launches a 3D Generation Large Model
36Kr learned that today, ByteDance's Seed team launched a 3D generation large model - Seed3D 1.0, which enables end-to-end generation from a single image to high-quality simulation-level 3D models. Seed3D 1.0 is based on an innovative Diffusion Transformer architecture and is trained with large-scale data. It can generate complete 3D models including fine geometries, realistic textures, and physically-based rendering (PBR) materials.
Tencent IMA Announces Version 2.0 and Will Launch Internal Testing of Task Mode
36Kr learned that on October 23, 2025, Tencent IMA Open Day was held in Beijing. At the event, IMA announced its version 2.0, and the internal testing will start on the 24th. Version 2.0 of IMA includes the "Task Mode" based on agent capabilities and features such as the knowledge base "AI Key Points". After the upgrade, IMA will become a "collaborative partner" that can understand goals, execute tasks, and produce results.
KS StreamLake Officially Launches AI Coding Product Matrix
36Kr learned that on October 23, KS StreamLake officially launched a trinity AI programming product matrix of "tools + models + platforms", including the intelligent development tool CodeFlicker, multiple self-developed large models KAT-Coder, and the large model platform Vanchin. Among them, KAT-Coder-Pro V1 surpassed GPT-5 and Claude Sonnet 4 with a solution rate of 73.4% in the SWE-bench Verified test. It is understood that the KAT-Coder-Air V1 version will be available for free to all users.
Financial Reports of Large Companies
Intel: Revenue in Q3 Reached $13.65 Billion, Up 2.8% Year-on-Year
Intel released its Q3 financial report on October 23 local time, showing that its revenue reached $13.65 billion, up 2.8% year-on-year; the adjusted gross profit margin in Q3 was 40%; the adjusted earnings per share in Q3 were $0.23, compared with a loss per share of $0.46 in the same period last year. Intel expects its revenue in Q4 to be between $12.8 billion and $13.8 billion; it expects the adjusted gross profit margin in Q4 to be 36.5%; it expects the adjusted earnings per share in Q4 to be $0.080. (Jiemian News)
Zotye Auto: Net loss of 223 million yuan in the first three quarters
36Kr learned that Zotye Auto released its third - quarter report. The report shows that the operating income in the first three quarters reached 419 million yuan, a year - on - year increase of 8.98%; the net profit attributable to shareholders of the listed company was - 223 million yuan. In the third quarter, the operating income reached 139 million yuan, a year - on - year increase of 2.34%; the net profit attributable to shareholders of the listed company was - 74.7612 million yuan. The continuous loss in performance is mainly due to the continued operating pressure on the company. Although taxes and surcharges, management expenses, etc. have decreased, non - operating expenses and estimated liabilities have increased, coupled with a significant decline in asset disposal income.
Peacebird: Net profit attributable to the parent company suffered a loss of 49.4526 million yuan in the third quarter
36Kr learned that Peacebird released its third - quarter financial report. The report shows that in the third quarter of 2025, the operating income reached 1.319 billion yuan, a year - on - year decrease of 5.54%; the net profit attributable to shareholders of the listed company suffered a loss of 49.4526 million yuan; the basic earnings per share was -0.1 yuan. In the first three quarters, the operating income reached 4.217 billion yuan, a year - on - year decrease of 7.15%; the net profit attributable to shareholders of the listed company was 28.259 million yuan, a year - on - year decrease of 73.79%; the basic earnings per share was 0.06 yuan.
Hilton: Net profit attributable to the parent in Q3 increased by 22% year-on-year
36Kr learned that Hilton Hotels & Resorts released its financial results for the third quarter of 2025. During the reporting period, Hilton's total revenue was approximately $3.12 billion, a year-on-year increase of 8.82%; the net profit attributable to the parent was approximately $420 million, a year-on-year increase of 22.09%.
Hotgen Biotech: Net Loss of 109 Million Yuan in the First Three Quarters
36Kr learned that Hotgen Biotech released its third - quarter report. The financial report shows that the company's operating revenue in the third quarter was 106 million yuan, a year - on - year decrease of 22.98%; the net loss was 24.9616 million yuan. The operating revenue in the first three quarters was 310 million yuan, a year - on - year decrease of 19.8%; the net loss was 109 million yuan; the basic earnings per share was - 1.23 yuan. During the reporting period, the company was affected by industry policies such as centralized procurement in the in - vitro diagnosis industry, resulting in a short - term decline in domestic prices and a decrease in demand.
Cool Products
Toyota: The sixth - generation RAV4 will go on sale in the US in December
It is reported that Toyota Motor Corporation announced on October 22 that it will start selling the fully upgraded new - generation SUV "RAV4" in the United States from December. The price of the hybrid vehicle (HV) starts from $30,000 to $35,000, which is at the same price level as the current version. The new - version RAV4 launched this time is the sixth generation first unveiled in May and will be equipped with Toyota's self - developed in - vehicle operating system "Arene" for the first time. Toyota said that it will not launch fuel - powered vehicles this time, and only HVs and plug - in hybrid vehicles (PHVs) will be sold. (Jiemian News)
Xiaomi's Lu Weibing: The starting price of the standard version of REDMI K90 is 2,599 yuan
36Kr learned that Lu Weibing, a partner and president of Xiaomi Group, announced the price of the standard version of REDMI K90. The starting price of the 12GB + 256GB version is 2,599 yuan.
Pre - sale of Alibaba Quark AI Glasses to Start at Midnight on the 24th
36Kr learned that Alibaba's first self - developed AI glasses, Quark AI Glasses, will start pre - sale at midnight on the 24th at the Tmall flagship store of Quark smart devices. The actual price for 88VIP members is 3,699 yuan, while that for ordinary consumers is 3,999 yuan. During the pre - sale period, all users will also receive a 3 - year Quark Cloud Drive SVIP membership worth 900 yuan, a 99 - yuan temple battery, and a 10% discount on glasses fitting as additional benefits.
Thunderbird Air 4 Officially Launched
36Kr learned that Thunderbird Innovation RayNeo held an autumn new product launch event and officially introduced the fourth - generation pocket TV, the Thunderbird Air 4 series of AR glasses. It is understood that it is equipped with the Vision 4000 picture - quality chip, a B&O jointly - tuned audio system, and supports AI HDR and AI 3D video functions.
Compiled | Baby Chinese Cabbage