Krypton Evening News | ZTE completed the key technology test of 5G-A low-altitude communication of the IMT-2020 (5G) Promotion Group; SoftBank reached a revised agreement with OpenAI, involving an additional investment of $22.5 billion; The central bank: Do a good job in counter-cyclical and cross-cyclical adjustments, improve the effectiveness of macroeconomic governance, and continuously stabilize growth, employment, and expectations.
Large Companies:
36Kr learned that China Petroleum Engineering & Construction Corporation announced that recently, a consortium composed of its wholly - owned subsidiary, China Petroleum Pipeline Engineering Co., Ltd. (referred to as "Pipeline Engineering Company"), its wholly - owned subsidiary CPPE (Kazakhstan) Ltd., and CITIC Construction Co., Ltd. received a letter of award for the EPC project of the single - corridor ethane and propane trunk pipeline in Atyrau Region, Kazakhstan, from the National Oil and Gas Chemical Company of Kazakhstan. The main scope of work includes the construction of an ethane pipeline with a length of 211.17 kilometers and a propane pipeline with a length of 218.7 kilometers. The award amount is $424 million (approximately 3.003 billion yuan). The planned construction period for the project to reach the pre - acceptance conditions is 36 months from the date of issuance of the notice to proceed.
Anthropic expects to achieve profitability exceeding OpenAI by 2027
Two Silicon Valley AI giants are on very different financial trajectories. According to documents disclosed by multiple media, Anthropic expects to break even in 2027 and achieve revenues of up to $70 billion and cash flows of $17 billion in 2028. In contrast, OpenAI's losses are expanding, and it is expected to reach $14 billion next year, and may not turn a profit until 2029. (Sina Finance)
Adani Group to build a battery energy storage system project in India
Indian billionaire Gautam Adani plans to build a multi - billion - dollar battery energy storage system in western India to support his group's renewable energy development plan. According to an exchange filing on Tuesday, the planned facility will have a power storage capacity of 1,126 megawatts. The company said that the facility will be completed by March 2026, and when completed, it will become the largest battery energy storage facility in India and one of the largest single - facilities globally. (Sina Finance)
36Kr learned that under the organization of the IMT - 2020 (5G) Promotion Group and in accordance with the "Test Method for Base Station Equipment for Low - Altitude Communication in the 5G - A Technology R & D Test" formulated by the 5G Promotion Group, after being the first to complete the laboratory test of the key 5G - A low - altitude communication technology, ZTE recently completed the field test of the key low - altitude communication technology for the first time under the 5G - A network of Zhangzhou Mobile in Fujian.
Shopee's annual super shopping carnival, the 11.11 promotion, officially kicked off. Platform data shows that in the first 2 hours, cross - border sales soared to 11 times. All types of sellers showed significant growth: local fulfillment sales increased 13 times, official warehouse sales soared 17 times; cross - border Shopee Mall sales increased to 17 times; cross - border new seller sales jumped to 36 times. The dividends of the platform's content e - commerce continued to be released: in the first 2 hours of the promotion, supported by Shopee's local influencers and content marketing matrix, cross - border live - streaming sales on Shopee Live increased to 16 times.
Tesla is preparing to expand its Texas Gigafactory again by building a dedicated facility for the mass production of its humanoid robot, Optimus. Currently, Tesla has set up a pilot production line in its factory in Fremont, Northern California, to assemble some Optimus prototypes. However, the company plans to allocate most of the production capacity of the Optimus project to the Texas Gigafactory. It is reported that the annual production capacity of the Fremont factory is expected to be 1 million units. Elon Musk said that the company will achieve the goal of an annual production capacity of 10 million units in the new dedicated workshop to be built at the Texas Gigafactory. Currently, the mass production schedule of Optimus at the Texas Gigafactory is still set to start in 2027. (Caixin)
New Products:
Apple launches a new accessory, iPhone Pocket, starting at 1,299 yuan
On November 11, Apple and Issey Miyake jointly launched the iPhone Pocket. Inspired by "a piece of cloth", the iPhone Pocket features an integrated three - dimensional woven structure and can hold any iPhone and various portable small items. The product will go on sale starting from Friday, November 14. Among them, the short - strap version is available in eight color options, and the long - strap version is available in three color options, priced at 1,299 yuan and 1,899 yuan respectively. (Jiemian)
Investment and Financing:
SoftBank Group's earnings report released on November 11 showed that on March 31, SoftBank Group signed a final agreement with OpenAI for a follow - on investment of up to $40 billion in OpenAI Global. After deducting the $10 billion to be lent to co - investors, SoftBank Group's actual investment is expected to be $30 billion. (Jiemian)
Industry sources say Google plans to invest billions of euros in Germany
An industry source told Reuters on Tuesday, November 11, that Google, a subsidiary of Alphabet, will invest billions of euros in Germany. Google has previously stated that it will "invest billions of euros in Germany to solve practical future problems through innovative technologies, artificial intelligence, and climate - neutral transformation". (Sina Finance)
36Kr learned that Tongxing Technology announced that recently, the company signed an "Investment Cooperation Framework Agreement for the Project with an Annual Production Capacity of 100,000 Tons of Sodium - Ion Battery Cathode Materials and 6GWh of Battery Cells" with the government of Pingshan County, agreeing to invest in and build a project with an annual production capacity of 100,000 tons of sodium - ion battery cathode materials and 6GWh of battery cells in Pingshan County. The planned total investment is about 3.2 billion yuan, of which the investment in the project with an annual production capacity of 100,000 tons of sodium - ion battery cathode materials is about 2 billion yuan, and the investment in the 6GWh battery cell project is about 1.2 billion yuan. After the signing of this agreement, if the project progresses smoothly, it will accelerate the implementation of production capacity for sodium - ion battery materials and other products, help enhance the company's future profitability and market competitiveness, promote the rapid implementation of the company's second growth pole, and accelerate the company's strategic transformation.
Today's Views:
36Kr learned that Cui Dongshu of the Passenger Car Association issued an article pointing out that in 2025, both promotions and price cuts in the passenger car industry have returned to rationality, and the market order has been significantly improved. The scale of price cuts for 156 new car models from January to October 2025 was relatively moderate. Currently, the main form of price competition is that new cars are launched with prices directly breaking through the previous lower limits, rather than the model of adding features without price increases. There were no models with direct price cuts in October, and adding features while reducing prices for new cars is a better way to improve cost - effectiveness. The national trade - in policy has achieved remarkable results, with market sales increasing, the phenomenon of cut - throat price competition significantly weakening, and the operating pressure on the industry improving. From January to September, the profit margin of the automobile industry rebounded to a medium - low level of 4.5%, which is also a good indication of the increase in industry scale and the stabilization of price promotions.
Other Noteworthy News:
36Kr learned that on November 11, Zheng Shanjie, the director of the National Development and Reform Commission, chaired a symposium for private enterprises to solicit opinions and suggestions on accelerating the development of the service industry in the context of the compilation of the "15th Five - Year Plan" Outline. The participating enterprises included those in industrial automation control, software and information services, industrial Internet, and comprehensive producer services, as well as catering - related consumer services. At the meeting, Director Zheng Shanjie carefully listened to the speeches of the participating enterprises and had in - depth discussions with them on the opportunities and challenges faced by the service industry during the 15th Five - Year Plan period, responding to the concerns of the enterprises one by one.
36Kr learned that the People's Bank of China released the China Monetary Policy Implementation Report for the third quarter of 2025. It mentioned that in the next stage, the People's Bank of China will further deepen financial reforms and high - level opening - up, accelerate the construction of a financial powerhouse, improve the central bank system, build a scientific and sound monetary policy system and a comprehensive macro - prudential management system, and smooth the monetary policy transmission mechanism. It will balance the relationships between the short - term and the long - term, between stabilizing growth and preventing risks, between internal and external balance, and between supporting the real economy and maintaining the health of the banking system itself. It will strengthen the consistency of macro - policy orientations, do a good job in counter - cyclical and cross - cyclical adjustments, improve the effectiveness of macro - economic governance, and continuously stabilize growth, employment, and expectations.