At 9:00, Yidian Zixun News Flash: Li Auto apologizes for the vehicle fire; 29 provinces across the country have extended the marriage leave; Haidilao responds to the incident of a parent collecting urine for a child in the dining area: The involved area has undergone special disinfection.
Today's Hot News Guide
Zhou Liren, the criminal in the "Xiangtan University Dormitory Poisoning Case", was executed.
The Hong Kong policy of "Guangdong Vehicles Heading South" was officially announced, allowing Guangdong-registered vehicles to enter Hong Kong's urban areas.
In the first ten months of this year, Xinjiang ranked first in the country in terms of the growth rate of tourist arrivals.
Amazon CEO says the major layoffs have nothing to do with AI: "It's about culture."
A woman found maggots in Shuanghui ham sausages she bought. The enterprise said it was due to fly larvae that appeared after product damage during circulation.
SpaceX proposed an accelerated lunar landing plan under pressure from NASA.
Top 3 Big News
Li Auto Apologizes for Vehicle Fire and Recalls the Same Batch of MEGA Involved in the Shanghai Fire Incident
On October 31st, Li Auto issued an announcement stating that on the evening of October 23rd, a fire incident involving a 2024 Li Auto MEGA occurred in Shanghai. The accident vehicle is still in the inspection and testing process by various parties, and a final technical conclusion has not yet been reached. Li Auto said that it has voluntarily filed a recall plan with the State Administration for Market Regulation. Recall number S2025M0174V: Starting from November 7th, 2025, Li Auto will recall a total of 11,411 units of the 2024 Li Auto MEGA with production dates ranging from February 18th, 2024, to December 27th, 2024.
On the same day, Li Auto posted a statement: First of all, we would like to express our sincere apologies to the car owner and understand the concerns of our customers. (Jiemian News, Beijing Daily)
29 provinces across the country have extended the marriage leave
Recently, the General Office of the Hunan Provincial People's Government issued a notice on the "Ten Measures for Improving Fertility Support Policies and Promoting the Construction of a Fertility-Friendly Society". The notice clearly encourages employers to extend employees' marriage leave to 20 days on top of the national regulations; encourages employers to extend the maternity leave of female employees who meet the legal fertility conditions to 188 days on top of the national regulations; and legally ensures that men are entitled to 20 days of paternity leave.
As of now, 29 provinces across the country have extended the marriage leave. Among them, Shanxi and Gansu offer the longest marriage leave, up to 30 days. Henan and Heilongjiang stipulate that those who undergo pre - marriage check - ups can get an additional 7 days and 10 days respectively, with the longest marriage leave reaching 28 days and 25 days respectively; in Xinjiang, the marriage leave is 23 days. In other provinces, the marriage leave is mostly 18 days, 15 days, 13 days or 10 days. (Daily Economic News)
Haidilao Responds to Incident of Parent Collecting Child's Urine in Dining Area: Special Disinfection Conducted in the Affected Area
On October 31st, Mr. Wang from Heilongjiang told reporters that when he dined at Haidilao (Harbin Yintai Store) at 8 p.m. on October 30th, he noticed that a child at a neighboring table urinated in public. Mr. Wang said that at that time, the child told his mother that he wanted to go to the toilet. "The mother directly picked up the child, turned his butt towards us, casually grabbed a small paper bowl to catch the urine, and then placed it directly on the vegetable preparation basket."
On October 31st, Haidilao replied to Mr. Wang, stating that under the supervision of a dedicated person from the Quality and Safety Department Center, the store completed special cleaning and disinfection of the area within 15 minutes after the incident, and all the contaminated items were discarded. A dedicated person has been assigned to keep in touch with Mr. Wang and actively follow up on the handling of the matter. (Breaking News)
Big Companies/Big Events
Zhou Liren, the criminal in the "Xiangtan University dormitory poisoning case", was executed
Reporters learned from relevant departments in Xiangtan, Hunan that Zhou Liren, the criminal in the "Xiangtan University dormitory poisoning case", was executed on October 31.
On April 7 this year, the Intermediate People's Court of Xiangtan City publicly pronounced the first - instance verdict on the intentional homicide case of the defendant Zhou Liren in open court. Zhou Liren was sentenced to death and deprived of political rights for life for the crime of intentional homicide. In April 2024, due to daily trivial matters, Zhou Liren was dissatisfied with his roommates. Using his professional knowledge, he put highly toxic substances into a canned cereal that two of his roommates shared. Zhou Moumou was spared because he did not eat it. During the rescue period after Zhang Moumou was poisoned, Zhou Liren deliberately concealed the facts, delaying the treatment, which ultimately led to Zhang Moumou's death due to multiple - organ system failure. (Yicai Global)
The "Guangdong Vehicles Heading South" policy for Hong Kong is officially announced. Guangdong-registered vehicles can now enter the urban areas of Hong Kong.
Reporters learned from the Guangdong Provincial Public Security Department and the Guangdong Provincial Department of Transport on October 31st that the "Guangdong Vehicles Heading South" policy for Hong Kong has been officially announced. The policy consists of two parts: the policy for parking lots at Hong Kong ports and the policy allowing Guangdong-registered vehicles to enter the urban areas of Hong Kong. In the first batch, four cities (Guangzhou, Zhuhai, Jiangmen, and Zhongshan) will be opened up, and the policy will be extended to other cities and prefectures in the whole province half a year later. (CCTV News)
Woman finds maggots in Shuanghui ham sausage. Company: Maggots are fly larvae caused by packaging damage during product circulation
On October 30th, a woman in Huian, Fujian posted a video saying that there were quite a few maggots in the Shuanghui ham sausage she bought on the 29th. The person involved said that she found the maggots when she opened the ham sausage for breakfast, and the ham sausage was still within the shelf - life.
On the 31st, reporters learned from Shuanghui Group that a preliminary investigation showed that the maggots were fly larvae, which were caused by packaging damage during the product's circulation. The meat of the product itself is fine, and there should be no maggot - infestation phenomenon. Currently, the company is negotiating a solution with the customer. Reporters learned from the Huian Market Supervision Department that it will look into this matter. (Beijing News)
Xinjiang Leads the Nation in Tourism Visitor Growth Rate in the First Ten Months of This Year
In the first ten months of this year, the tourism markets in all 14 prefectures and cities in Xinjiang have shown strong growth. The number of tourists visiting Xinjiang has increased by 31.12% year - on - year, and the growth rate ranks first in the country. Urumqi, Ili Kazakh Autonomous Prefecture, and Kashgar region lead in terms of the proportion of tourists received. In terms of the source structure of tourists, the post - 80s and post - 90s groups are the main force in tourism consumption. Guangdong, Beijing, Sichuan, Henan, and Shandong rank among the top five sources of tourists for Xinjiang. In terms of inbound tourism, Hong Kong (China), Taiwan (China), and Malaysia rank among the top three in terms of the number of tourists and consumption amount. Southeast Asian countries and Central Asian countries have become important source markets for inbound tourism in Xinjiang. (CCTV News)
From January to September, 24,300 old urban residential communities across the country started renovation projects
Reporters learned from the Ministry of Housing and Urban - Rural Development on October 31st that in 2025, the national plan is to start renovation projects for 25,000 old urban residential communities. According to the statistics reported by various regions, from January to September, 24,300 old urban residential communities across the country started renovation projects. By region, 11 regions including Hebei, Liaoning, Jilin, Shanghai, Jiangsu, Anhui, Hainan, Chongqing, Shaanxi, Qinghai, and the Xinjiang Production and Construction Corps have completed their annual plans for renovating old urban residential communities. (CCTV News)
The Ministry of Finance and the State Taxation Administration issued an announcement on tax policies related to gold
The Ministry of Finance and the State Taxation Administration issued an announcement on tax policies related to gold. It mentioned that when member units or customers trade standard gold through the Shanghai Gold Exchange and the Shanghai Futures Exchange (hereinafter referred to as the exchanges), the selling member units or customers are exempt from value-added tax (VAT) when selling standard gold. If there is no physical delivery out of storage, the exchanges are exempt from VAT; if there is physical delivery out of storage, the VAT policies shall be applied in accordance with the following provisions:
(1) When a member unit purchases standard gold for investment purposes, the exchanges shall implement the policy of immediate refund of VAT upon collection. At the same time, the urban maintenance and construction tax and education surcharges shall be exempted, and special VAT invoices shall be issued to the buying member unit at the actual transaction price. When the buying member unit directly sells the standard gold or processes it into gold products for investment purposes (except for legal gold coins issued with the approval of the People's Bank of China) and sells them, it shall pay VAT in accordance with the current regulations and issue ordinary invoices to the buyers, and shall not issue special VAT invoices. Member units that produce and issue legal gold coins with the approval of the People's Bank of China, when purchasing standard gold from the exchanges and producing and selling legal gold coins (except for panda ordinary gold coins applicable to the VAT exemption policy), shall pay VAT in accordance with the current regulations and may issue special VAT invoices to the buyers.
(2) When a member unit purchases standard gold for non - investment purposes, the exchanges are exempt from VAT and shall issue ordinary invoices to the buying member unit at the actual transaction price. If the buying member unit is a general VAT taxpayer, it shall calculate the input VAT amount based on the amount indicated on the ordinary invoice and a deduction rate of 6%. When the buying member unit processes the standard gold into gold products for non - investment purposes and sells them, it shall pay VAT in accordance with the current regulations and may issue special VAT invoices to the buyers.
(3) When a customer purchases standard gold, the exchanges are exempt from VAT and shall issue ordinary invoices to the buying customer at the actual transaction price. If the customer is a general VAT taxpayer, it shall calculate the input VAT amount based on the amount indicated on the ordinary invoice and a deduction rate of 6%. When the buying customer directly sells the standard gold or sells it after processing, it shall pay VAT in accordance with the current regulations and may issue special VAT invoices to the buyers. (Caixin Press)
US Senate Passes Resolution to End Trump's Comprehensive Tariff Policy
On October 30 local time, CCTV reporters learned that the US Senate passed a resolution by a vote of 51 in favor and 47 against, ending the comprehensive tariff policy implemented globally by US President Trump. It is reported that the US Senate announced that it has approved a joint resolution to end the national emergency declared by the president to implement global tariffs. Earlier this week, the Senate had passed two resolutions aiming to cancel the tariffs imposed on Canada and Brazil.
It is reported that these resolutions still need to be voted on by the House of Representatives. However, House Republicans have previously blocked legislative actions to overturn the tariffs multiple times, and these resolutions are expected to have difficulty getting a vote in the House. Even if the House eventually passes them, Congress still needs a two - thirds absolute majority to override the president's veto. (CCTV News)
Amazon CEO Says Mass Layoffs Have Nothing to Do with AI: "It's About Culture"
Amazon announced this week that it will lay off 14,000 employees. The company's CEO, Andy Jassy, shared his views on this layoff for the first time during a quarterly earnings call on Thursday, saying that the move was not to cut costs or pursue artificial intelligence, but because they didn't fit into the company's culture. (Sina Finance)
TSMC Plans to Invest NT$1.5 Trillion to Build Four A14 Semiconductor Factories
According to the Taiwan Business Times, TSMC plans to invest approximately NT$1.5 trillion to build four wafer fabs using 1.4-nanometer (A14) process technology. The project is expected to create nearly 10,000 jobs. It is planned to start risk production by the end of 2027 and achieve large-scale mass production in the second half of 2028. (Cailian Press)
The assets of Chen Zhi, a Cambodian telecom fraud boss, have been frozen in Singapore, equivalent to approximately 820 million RMB.
On October 30th, the Singapore Police Force seized and impounded six properties in Singapore belonging to Cambodian businessman Chen Zhi and his "Prince Group." Meanwhile, they issued a prohibition order on other relevant financial assets, including bank accounts, securities accounts, and cash, with a total value exceeding 150 million Singapore dollars (equivalent to approximately 820 million RMB). In addition, a yacht, 11 luxury cars, and multiple bottles of fine wines were also included in the scope of the ban.
The Prince Group, operated by Chen Zhi, claims to be a multinational business group and has invested in projects such as resorts and hotels in Cambodia. It is one of the largest corporate groups in Cambodia. However, the group actually uses false recruitment advertisements to deceive workers and then forces them to engage in telecom fraud through torture. The workers then deceive victims into transferring cryptocurrencies in order to obtain huge investment returns. (Red Star News)
Jensen Huang Shouted "Free for Everyone" at a Meal with South Korean Chaebol Tycoons, but It Was Lee Jae-yong and Chung Eui-sun Who Settled the Bill
On October 30th, Jensen Huang, the CEO of NVIDIA, had fried chicken and beer with two major chaebol tycoons during his attendance at the APEC Summit in South Korea. Jensen Huang chose a fried chicken restaurant for a dinner gathering with Lee Jae-yong, the chairman of Samsung Electronics, and Chung Eui-sun, the chairman of Hyundai Motor Group, hoping to personally experience South Korea's fried chicken and beer culture. They ordered three servings of fried chicken, cheese sticks, and three glasses of draft beer. Jensen Huang also had soju paired with beer from the next table. Jensen Huang shouted "Free for everyone", but it was actually Lee Jae-yong and Chung Eui-sun who settled the bill, with a total consumption of about 2.5 million South Korean won.
Before entering the restaurant, Jensen Huang gave a brief interview to the media. He said that he was very much looking forward to meeting South Korean President Lee Jae-myung during the APEC Summit the next day and revealed that "many important announcements will be made regarding the ongoing projects". He also said that he had discussions with Samsung about high-bandwidth memory (HBM), and there would be many topics worthy of discussion in the future. (Beijing News)
SpaceX Puts Forward Accelerated Moon Landing Plan Under Pressure from NASA
As NASA criticized the delay in rocket development, SpaceX, owned by Elon Musk, proposed a faster plan for astronauts to land on the moon. SpaceX said, "We have submitted and are formally evaluating a simplified mission architecture and operation plan, which we believe will accelerate the process of returning to the moon and enhance the safety of astronauts at the same time." Under a $4 billion contract with NASA, the company needs to transform the giant Starship rocket into a lander capable of transporting astronauts to and from the lunar surface. SpaceX has promised to prepare the Starship for NASA's "Artemis 3" mission, which will be the first moon landing by Americans in more than half a century. (Caixin)
Cambricon Announcement: Former CTO Liang Jun Sues for Nearly 4.3 Billion Yuan in Compensation
ZHONGKE CAMBRICON TECHNOLOGIES CO., LTD. (hereinafter referred to as "Cambricon") announced on the evening of October 31 that the company had received a statement of claim served by the People's Court of Haidian District, Beijing. Liang Jun, the former deputy general manager, filed a lawsuit against the company over a labor dispute, seeking to confirm the labor relationship and claiming 4.287 billion yuan in losses from equity incentives. This amount was calculated based on his indirect holding of 11.5232 million shares of Cambricon, using the highest share price of 372 yuan per share from January 2, 2024, to the time of filing the lawsuit. The case has been filed and accepted, but the hearing has not yet taken place. Previously, relevant entities of the company had sued Liang Jun over the repurchase of shareholding rights, and that repurchase case has been heard and is awaiting a verdict.
Cambricon responded in the announcement that Liang Jun did not directly hold shares in the company before leaving. His relevant rights and interests originated from the "Shareholding Plan" signed in 2019, corresponding to the capital contributions of two employee shareholding platforms. According to the agreement in the "Shareholding Plan", if the shareholding entity leaves the company during the lock - up period of the rights and interests, the repurchase conditions will be triggered. (China News Service)
Volkswagen (China) Sales Co., Ltd. Recalls Some Imported Bentley Vehicles
36Kr learned that Volkswagen (China) Sales Co., Ltd. has filed a recall plan with the State Administration for Market Regulation in accordance with the requirements of the "Regulations on the Recall of Defective Automobile Products", the "Measures for the Implementation of the Regulations on the Recall of Defective Automobile Products", and the "Regulations on the Recall of Motor Vehicle Emissions". Recall Number E2025M0169V: Starting from November 3, 2025, a total of 5 imported Flying Spur and Continental series vehicles produced between January 27, 2025, and May 16, 2025, will be recalled.
New Progress in the Sale of Burger King's China Business: CEO Has Held Talks with Potential Buyers
On October 30 local time in the United States, during the earnings conference of Restaurant Brands International, the parent company of the Burger King brand, CEO Josh Kobza revealed that in September, he, CFO Sami Siddiqui, and President of International Operations Thiago Santelmo visited Shanghai and met with several potential partners. Kobza said that during the talks, he felt the strong interest of the other parties in the brand, and there was a high degree of alignment in the business vision, which brought a clear path for revitalizing the Chinese market. However, he did not disclose the names of the specific negotiating parties. (Blue Whale News)
The Lakers are acquired, and the transaction is valued at $10 billion
On October 31, the NBA Board of Governors approved Mark Walter's $10 billion acquisition of the Lakers. This figure will also set a record for global professional sports teams.
Mark Walter is the CEO of TWG Global Holdings and holds shares in multiple professional sports organizations, including the MLB's Los Angeles Dodgers, the WNBA's Los Angeles Sparks, and the Cadillac F1 team. It is reported that since Dr. Jerry Buss acquired the team in 1979, the Buss family has held the controlling stake in the Lakers. According to the agreement, the Buss family will retain a partial stake after this transaction. Jeanie Buss will continue to serve as the team's director for at least five years after the transaction is completed. (Blue Whale News)
NVIDIA CEO Jensen Huang Completes $1 Billion Stock Sale
On November 1st, it was reported that Jensen Huang, the Chief Executive Officer (CEO) of NVIDIA, has sold stocks worth over $1 billion since June, completing a large - scale pre - planned stock sale. A report on Friday showed that Huang recently sold 25,000 shares of stock.
Japan's job - offer - to - applicant ratio and unemployment rate in September remained unchanged from the previous month
The effective job - offer - to - applicant ratio (seasonally adjusted) in September, announced by Japan's Ministry of Health, Labour and Welfare on October 31, was 1.20 times, remaining unchanged from the previous month. The total unemployment rate (seasonally adjusted) announced by the Ministry of Internal Affairs and Communications on the same day was 2.6%, also remaining unchanged from the previous month. (Jiemian News)
Going public in progress
Xidi Zhijia
36Kr learned that the International Cooperation Department of the China Securities Regulatory Commission issued a notice on the record-filing for the overseas issuance and listing of Xidi Zhijia Technology Co., Ltd. and the "full circulation" of its unlisted domestic shares. The company plans to issue no more than 7,789,150 overseas-listed ordinary shares and list them on the Hong Kong Stock Exchange. A total of 51 shareholders of the company plan to convert their 37,035,912 unlisted domestic shares into overseas-listed shares and make them publicly tradable on the Hong Kong Stock Exchange.
Jiangsu Xinde Semiconductor Technology Co., Ltd.
36Kr learned that according to the Hong Kong Stock Exchange, Jiangsu Xinde Semiconductor Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Huatai International as the sole sponsor.
Zhongwei New Materials Co., Ltd.
36Kr learned that documents from the Hong Kong Stock Exchange showed that Zhongwei New Materials Co., Ltd. has passed the listing hearing of the Hong Kong Stock Exchange. The joint sponsors are Huatai International and Morgan Stanley.
New Bridge Biotech
36Kr learned that according to documents from the Hong Kong Stock Exchange, New Bridge Biotech has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are CITIC Securities and Goldman Sachs.
Redboard Technology
36Kr learned that Redboard Technology's IPO application on the main board of the Shanghai Stock Exchange has been approved by the listing committee meeting.
The Cutting - Edge of AI
Altman Responds to Musk's Mockery of OpenAI's Listing as a Money-Grab: I Just Want to "Leave a Mark in the Universe"
Sam Altman, the CEO of OpenAI, posted a long article on a social platform to respond to people's doubts about OpenAI's listing, including a mocking emoji from his old rival Elon Musk. He wrote, "But the real opportunity to 'leave a mark in the universe' is worth it; most people don't have such an opportunity, and I'm very grateful. I sincerely believe that the work we're doing will be a transformative and positive thing... I believe that AGI will be the most important technology humans have ever created, and I'm very grateful to play an important role in it and work with such excellent colleagues. I like an interesting life." (Sina Finance)
Financial Reports of Big Companies
The Audi Group's revenue in the first three quarters of this year was approximately 48.4 billion euros, a year-on-year increase of 4.6%.
The Audi Group released its financial results for the first nine months of 2025. During the reporting period, the Audi Group's revenue was approximately 48.4 billion euros, a year-on-year increase of 4.6%; the operating profit was approximately 1.6 billion euros, and the net cash flow reached 2.1 billion euros. The Audi Management Board expects that the revenue in the fiscal year 2025 will be between 65 billion and 70 billion euros, the operating profit margin will be between 4% and 6%, and the net cash flow will be between 2.5 billion and 3.5 billion euros. (Caixin)
Estée Lauder Companies: Net sales reached $3.5 billion in Q1 of fiscal year 2026, up 4%
36Kr learned that on October 30, the Estée Lauder Companies released its financial report for the first quarter of fiscal year 2026. The report shows that the company's net sales increased by 3.6% year-on-year to $3.481 billion, exceeding analysts' expectations. The company successfully turned losses into profits, recording a net profit of $47 million. It is worth mentioning that the Chinese mainland market performed outstandingly. Driven by high-end skincare and perfume brands, net sales increased by 9% year-on-year to $532 million.
Chery Automobile: Net profit of 14.37 billion yuan in the first three quarters
36Kr learned that Chery Automobile released its third - quarter financial report. In the first three quarters of 2025, its revenue was 214.83 billion yuan, compared with 182.15 billion yuan in the same period of the previous year; the net profit was 14.37 billion yuan, compared with 11.22 billion yuan in the same period last year.
Mediatek's net profit in the third quarter was NT$25.451 billion, a year-on-year decrease of 0.5%
On October 31, MediaTek announced that its net profit in the third quarter was NT$25.451 billion, a year-on-year decrease of 0.5% and a quarter-on-quarter decrease of 9.3%. The earnings per share were NT$15.84. (Jiemian News)
Cool Products
Musk May Unveil a Flying Car Prototype This Year
Elon Musk revealed in a recent podcast that he plans to launch a prototype of a flying car, calling it potentially "the most memorable product launch in history." During U.S. trading hours on October 31, Joe Rogan posted a 200 - minute podcast video on his channel. Musk and Rogan covered a wide range of topics, with only a small portion related to Tesla's business. According to the timeline revealed by Musk, Tesla plans to complete and showcase a working prototype of the flying car within a few weeks before the end of 2025. Musk admitted that this timeline is very tight but still insisted that Tesla "has a realistic chance" of meeting the deadline. He also commented, "Even if you combined all the ideas from James Bond's (the protagonist in the '007' movies) cars, they wouldn't be as crazy as this flying car." (Caixin)
Compiled | Purple