Krypton Evening News | Tsingtao Brewery: Net profit in the third quarter was 1.37 billion yuan, a year-on-year increase of 1.62%; SONG Yang has replaced SHAO Jingping (James) as the head of the marketing center of JD Retail Platform; Anta Sports: The retail sales of Anta and FILA brands increased by a low single-digit percentage year-on-year in the third quarter.

Large companies:

Meituan Launches Special Area for Medical Food Activities during Double 11

Meituan data shows that in the past week, the search volume related to medical food on the platform increased by nearly 40% week-on-week, and that of health supplements increased by over 30%. To meet users' needs, Meituan's self-operated pharmacy launched the "Healthy Double 11" campaign. There are health supplements such as donkey-hide gelatin and bird's nest in the campaign, as well as medical foods like Neocate, Peptamen, and Nutramigen. Meituan will also offer users large-value coupons. In addition, users who purchase medical food can join the community to enjoy exclusive consultation services from nutritionists and exclusive community coupons.

Tsingtao Brewery: Net profit in the third quarter was 1.37 billion, a year-on-year increase of 1.62%

36Kr learned that Tsingtao Brewery released its third-quarter report. The revenue in the third quarter was 8.876 billion, a year-on-year decrease of 0.17%; the net profit attributable to shareholders of the listed company was 1.37 billion, a year-on-year increase of 1.62%.

Changchun High - tech: The application for a clinical trial of the domestic production drug registration of its subsidiary GenSci098 Injection has been approved

36Kr learned that Changchun High - tech issued an announcement. Recently, its subsidiary, Changchun Jinsai Pharmaceutical Co., Ltd. (referred to as "Jinsai Pharmaceutical"), received the "Drug Clinical Trial Approval Notice" issued by the National Medical Products Administration. The application for a clinical trial of the domestic production drug registration of GenSci098 Injection of Jinsai Pharmaceutical has been approved. GenSci098 Injection has the potential to treat Graves' disease. The approval of this clinical trial application can promote the subsequent clinical development of this product for the population with Graves' disease.

Kingsoft Office: Net profit in the third quarter was 431 million yuan, a year-on-year increase of 35.42%

36Kr learned that Kingsoft Office released its third-quarter report. The company's operating income in the third quarter was 1.521 billion yuan, a year-on-year increase of 25.33%; the net profit attributable to shareholders of the listed company was 431 million yuan, a year-on-year increase of 35.42%.

Zhu Hexin: In the first three quarters, China's cross - border payments and receipts reached 11.6 trillion US dollars, hitting a record high for the same period in history

At the 2025 Financial Street Forum Annual Conference, Zhu Hexin, Deputy Governor of the People's Bank of China and Director of the State Administration of Foreign Exchange, said that the in - depth reform and high - level opening - up in the foreign exchange field have created favorable conditions for various entities to effectively allocate foreign exchange resources and manage exchange - rate risks, and to better participate in global economic and trade cooperation. In 2024, the trading volume in China's foreign exchange market increased by 37% compared with 2020, and the scale of cross - border payments and receipts increased by 64% compared with 2020. In the first three quarters of this year, China's cross - border payments and receipts reached 11.6 trillion US dollars, hitting a record high for the same period in history. High - level opening - up has become a strong driving force for China's economic development. (Yicai Global)

Three Squirrels: Net profit in the third quarter was 22.2689 million yuan, a year-on-year decrease of 56.79%

36Kr learned that Three Squirrels released its third-quarter report. In the third quarter, it achieved an operating income of 2.281 billion yuan, a year-on-year increase of 8.91%; the net profit attributable to shareholders of the listed company was 22.2689 million yuan, a year-on-year decrease of 56.79%.

Henrui Medicine: Net profit in the third quarter was 1.301 billion yuan, a year-on-year increase of 9.53%

36Kr learned that Henrui Medicine released its third-quarter report. The revenue in the third quarter was 7.427 billion yuan, a year-on-year increase of 12.72%; the net profit attributable to shareholders of the listed company was 1.301 billion yuan, a year-on-year increase of 9.53%.

Song Yang has replaced Shao Jingping (James) as the head of the Marketing Center of JD Retail Platform

36Kr learned that an insider at JD responded to the personnel change: Song Yang has replaced Shao Jingping (James) as the head of the Marketing Center of JD Retail Platform. Shao Jingping was dismissed for personal reasons and the process is underway.

Contemporary Amperex Technology Co., Ltd. (CTBC): Net profit in the third quarter was 11.6249 million yuan, a year-on-year decrease of 93.74%

36Kr learned that CTBC released its third-quarter report. The company's operating income in the third quarter was 671 million yuan, a year-on-year decrease of 17.74%; the net profit attributable to shareholders of the listed company was 11.6249 million yuan, a year-on-year decrease of 93.74%.

Anta Sports: Retail sales of Anta and FILA brands increased by low single digits year-on-year in Q3

36Kr learned that Anta Sports issued an announcement stating that in the third quarter of 2025, the retail sales of products under the Anta brand and FILA brand achieved low single-digit positive growth year-on-year; products under all other brands achieved 45-50% positive growth year-on-year.

Investment and financing:

Guoyi Quantum Receives Strategic Investment from Hefei Xingtai Capital
Recently, Guoyi Quantum Technology (Hefei) Co., Ltd., a developer of precision measurement instruments, announced the completion of a new round of strategic financing. The investor is Hefei Xingtai Capital. This financing will help Guoyi Quantum improve its R & D and design capabilities in areas such as quantum computing-related equipment, dedicated magnetic resonance equipment, and experimental analysis instruments.

Songyan Power Completes Nearly 300 Million Yuan in Pre-B Round Financing
On October 26th, it was reported that Songyan Power has completed nearly 300 million yuan in Pre-B round financing, led by Fangguang Capital, with follow-on investments from Vertex Ventures, CRRC Transformation and Upgrading Fund, Juhe Capital, Dongfang Jiafu, CCTV Media Convergence Fund, Jiadao Capital, Kuanqiao Hengsong, etc. (Science and Technology Innovation Board Daily)

New Products:

Meituan's LongCat-Video Officially Released and Open-Sourced
36Kr learned that on October 27th, Meituan's LongCat team released and open-sourced the LongCat-Video video generation model. With a unified model, it has achieved the state-of-the-art (SOTA) performance in open-source on basic tasks of text-to-video and image-to-video generation. Relying on pre-training for the native video continuation task, it can generate coherent long videos in minutes, ensuring cross-frame temporal consistency and the rationality of physical motion. The team believes that the release of the video generation model is the first step in exploring the "world model." In the future, with the ability to accurately reconstruct the operating state of the real world, the LongCat model will be integrated into in-depth interactive business scenarios such as autonomous driving and embodied intelligence.

Today's Viewpoint:

CSRC: Implement Green Channels and Simplified Procedures for Access Permits of Allocation-oriented Foreign Investment from Sovereign Funds, International Organizations, Pension and Charity Funds
36Kr learned that recently, the China Securities Regulatory Commission (CSRC) issued the "Work Plan for Optimizing the Qualified Foreign Investor System", which mentioned implementing classified management of access. For sovereign funds, international organizations, pension and charity

Other notable news:

Air China Cargo: Plans to Purchase Aircraft from Airbus
36Kr learned that Air China Cargo issued an announcement stating that the company plans to sign a purchase agreement for A350F freighters with Airbus S.A.S. (hereinafter referred to as "Airbus") to introduce 6 A350F freighters and retain options for 4 more. Based on the list price in January 2024, each A350F aircraft is priced at approximately $465 million. If all firm orders and options are exercised, the total value of 10 A350F freighters would be approximately $4.65 billion. After fair negotiations between the two parties, Airbus has offered the company significant price discounts. Therefore, the actual consideration for this transaction will be lower than the aforementioned list price of the aircraft.