8:00, 1st Krypton | "AI talented woman" Luo Fuli announced her joining of Xiaomi; Tim from Filmora suffered rejection during a blind date; Ma Liuji's Los Angeles store was collectively complained about.
Today's Hotspot Guide
- People's Daily Exposes AI Training Scams Targeting the Elderly
- Pang Donglai Recruits 2 Chinese-English Translation Assistants with an Annual Salary of Over 500,000
- Stakeholders of Luckin Coffee Consider Bidding for Costa Coffee
- Ren Moumou, a Researcher at ByteDance's Seed, Is Exposed to Have Been Fired for Leaking Secrets
- The First Flying Car Factory Lands in Guangzhou
Top 3 Big News
"AI Talent" Luo Fuli Announces Joining Xiaomi, with Previous Rumors of Lei Jun Seeking to Recruit Her with a Multi - million - Yuan Annual Salary
On November 12th, "AI talent" Luo Fuli officially announced on her WeChat Moments that she had joined Xiaomi. She said in her Moments, "Intelligence will eventually move from the linguistic to the physical world. I'm now at Xiaomi MiMo, working with a group of creative, talented, and sincerely passionate researchers to build such a future and fully commit to achieving AGI in our minds." In response, reporters sought verification from Xiaomi, but no reply was received. Previously, there were rumors that Lei Jun, the founder of Xiaomi, had hoped to recruit Luo Fuli with a multi - million - yuan annual salary and invite her to lead a team at Xiaomi to conduct research on large AI models. Subsequently, the related news attracted extensive public attention.
Public information shows that Luo Fuli graduated from Beijing Normal University with a bachelor's degree in computer science and then pursued a master's degree in computational linguistics at Peking University. After graduating with her master's degree, Luo Fuli joined Alibaba's DAMO Academy as a researcher in the Machine Intelligence Laboratory, where she was responsible for developing the multilingual pre - trained model VECO and promoting the open - source work of the AliceMind project. In 2022, Luo Fuli joined Magic Square Quantitative, the parent company of DeepSeek, to engage in work related to deep learning. Later, she also served as a deep - learning researcher at DeepSeek and participated in the research and development of models such as DeepSeek - V2. (Blue Whale News, Beijing News)
Tim from Filmstorm Rejected in a Blind Date: Low Education and Divorced at a Young Age
On November 12th, Filmstorm released a Q&A video for its 14 million followers. In the video, Tim, the CEO of Filmstorm, decided to go to a blind - date corner after drawing a comment that said "go on a blind date". From the video, we can see that in his resume, Tim wrote that he is a local boy from Hangzhou, with a junior high school education in China, and his marital status is divorced and single. Regarding his personal conditions, Tim wrote, "I work as a photographer and in video production. I'm an only child. My father is involved in the express delivery industry, and my mother takes care of the family." However, this resume didn't win the approval of the elders at the blind - date corner.
When an aunt at the blind - date corner saw the "junior high school education in China" section, she immediately said bluntly, "The education level is too low." Another aunt, after learning about his divorced status, sighed regretfully, "Divorced at such a young age." It's worth mentioning that Tim's father is Pan Shuimiao, the president of YTO Express, who has worked in many well - known companies including those in the Alibaba ecosystem, and his mother studied medicine. Previously, Tim and his wife "Titi Xiaoyu w" officially announced their divorce. Both of them said that there were no fundamental issues in the divorce, but they just couldn't make the marriage work and decided to return to being friends later. (Biannushi)
Ma Liuji's Los Angeles store has been collectively complained about, and multiple consumers have posted on social platforms
Recently, multiple consumers have posted on social platforms to complain that they experienced symptoms such as vomiting and diarrhea after dining at Ma Liuji's Los Angeles store, which has attracted attention. According to the pictures posted by consumers, Ma Liuji's spicy and sour noodles store in Los Angeles, USA officially opened on October 28.
On social platforms, multiple consumers complained that they had similar situations after dining at the store shortly after its opening, describing "severe abdominal cramps and running to the toilet constantly" and "being too weak to go out due to diarrhea", but not all consumers had physical discomforts. A consumer told reporters that she dined at the store at noon on November 3 and did not experience diarrhea or other problems, but she learned that the store had closed after being collectively complained about. On November 11, the Los Angeles County Department of Public Health told reporters that the department was still working hard to handle the matter and did not disclose more information. The reporter sent an interview email to Ma Liuji's official on the same day, but had not received a response as of press time. (Nanfang Daily)
Large companies/Large events
UGG Responds to Long-Haired Snow Boots Resembling Lingnabeier's Feet: The Design of the Limited Edition Is a Bit Exaggerated
Recently, netizens posted that UGG launched a pair of long-haired short snow boots priced at 2,799 yuan. Its unique design with a furry and fluffy appearance has sparked a heated discussion among netizens. Many netizens joked that its shape resembles the feet of the Disney character "Lingnabeier". On November 11, the customer service of UGG's official flagship store responded that the boots feature a unique long-haired design, with a fashionable and layered look. They also reminded that there might be slight hair loss. A staff member at an offline store in Wuhan introduced that this product is a limited edition that was recently launched. Currently, the supply is very tight, and it is only available in some stores. The staff member added that the design of the boots is quite exaggerated, with a curly long-haired shape in real life, presenting an overall cute style. (Jing Shi Live)
People's Daily Exposes AI Training Scams Targeting the Elderly, Beware of AI Training Schemes
It is reported that slogans full of temptation such as "Ultra - popular AI training, a new lease of life for the elderly", "Enter the AI circle with zero foundation", "Create a popular account and cash in quickly" come from online AI training institutions. Recently, some readers wrote in to report that they had encountered a new "elder - scamming" scheme. Under the guise of AI training, these institutions actually set traps and sold courses at high prices. Many elderly people who are eager to keep up with the trend of the times by learning new technologies have been lured into the scam.
After sorting out the information, reporters found that the general modus operandi of these trainings is as follows: First, create anxiety. They claim that learning AI helps maintain mental agility and avoid social isolation to attract the attention of the elderly. Second, during free or one - yuan trial classes, they present numerous false cases, such as "Earning ten thousand yuan a month after the course is not a dream", to hook the elderly. Then, they adopt a hunger - marketing strategy, using phrases like "Limited spots" and "The discount is ending soon" to stimulate the elderly to make impulsive purchases. (People's Daily)
Lei Jun Responds to Xiaomi's Double 11 Results: "Thank You All for Your Support"
Xiaomi officially released its battle report early on the morning of November 12. As of 23:59:59 on November 11, the cumulative payment amount across all channels exceeded 29 billion yuan. Lei Jun, the founder, chairman, and CEO of Xiaomi, posted a message early on the 12th, saying, "Thank you all for your support." (Sina Technology)
When talking about the competition between LeEco and Xiaomi, Jia Yueting said that Xiaomi had no power to fight back back then.
Recently, a Douyin user named "Futurist Alliance" posted a video clip of Jia Yueting's review of LeEco's failure experience. In the video, when talking about the competition between LeEco and Xiaomi, Jia Yueting said bluntly: "Back then, Xiaomi had no power to fight back in front of us." Jia Yueting said that LeEco's "collapse" at that time was not because the products were poor, the technology was inferior, or there were no users. On the contrary, the products were extremely competitive globally, and many unique technologies were created. It was truly invincible.
It is understood that in August 2016, LeEco was reported to have financial problems with its suppliers, and was then "pressured for debts" by dozens of suppliers. In November of the same year, Jia Yueting admitted that there were indeed problems with the capital chain. Then, on the afternoon of May 18, 2021, LeEco held a high - profile press conference and announced the return of LeEco's smart ecosystem and the rebirth of the super - phone. (Sohu Tech)
Fat Donglai Recruits 2 Chinese-English Translation Assistants with an Annual Salary Exceeding 500,000, and the Consultation Phone Line Is Jammed
On November 11th, Fat Donglai Trading Group released a recruitment announcement for Fat Donglai in Xuchang, publicly recruiting 2 Chinese-English translation assistants. The main responsibilities of this position are to provide interpretation and translation support for international experts to promote cross-cultural ideological exchanges and interactions; and to be responsible for collecting, organizing, translating, and reviewing various types of Chinese-English materials.
In terms of salary and benefits, this position is entitled to paid leave of no less than 60 days, with specific details to be discussed; and the annual salary is no less than 500,000, which can be negotiated based on actual abilities. According to the official arrangement, the resume submission time for this position is from 10:00 on November 16th, 2025, to 24:00 on November 18th. On November 12th, Jiemian News tried to call the official consultation phone number to inquire about relevant recruitment matters, but the line was always busy and could not be connected. (Jiemian News)
"SUD" Acquires "COCOS" for 510 Million Yuan
36Kr learned that the in-app game distribution platform "SUD" recently completed a full acquisition of the game engine company "COCOS" for 510 million RMB. The two parties will conduct in-depth integration at the levels of traffic, ecosystem, technology, and team.
Ruixing Coffee's shareholder, Centurium Capital, is reported to be considering a bid for Costa Coffee
According to people familiar with the matter, Centurium Capital, a shareholder of Ruixing Coffee, is considering making a bid for British coffee operator Costa Coffee. The people said that Centurium Capital is evaluating whether to make an offer for Costa Coffee, which Coca - Cola is exploring a sale of. The specific structure of a potential deal has not been determined, and it is also unclear whether Centurium Capital might bid on its own or through Ruixing Coffee. The people familiar with the matter said that the relevant discussions are still in the preliminary stage, and it is not certain whether an official offer will be made. (Sina Finance)
Sam's Response to the Absence of Product Prices on Express Delivery Receipts
Recently, some netizens complained that after the update of Sam's Express Delivery receipts, the specific price of each product is no longer displayed, worrying about the possibility of double - charging. This incident has attracted attention.
On November 12th, Sam's responded to this issue, stating that "Sam's attaches great importance to member information protection and shopping experience. We recently updated the Express Delivery receipts to further strengthen the protection of member information." According to the introduction, the information displayed on the receipt is intended to help check the products and quantities more quickly and conveniently during pick - up and delivery. The details of products and prices for Express Delivery orders will be fully displayed in the order details section of the member's own APP and can be saved for a long time, facilitating members to check. The in - store shopping receipts still retain the complete price details. (Jiupai News, Jiemian News)
The First Flying Car Factory Lands in Guangzhou
Recently, the first electric vertical takeoff and landing (eVTOL) flying car factory with an annual production capacity of up to 10,000 vehicles has entered the trial - production stage in Guangzhou. This marks that in the low - altitude economy field, such products have entered the large - scale manufacturing stage in China for the first time. Inside the workshop, AGV automatic lifting vehicles transport the fuselage of the flying car, which is the core equipment of the flying car, to various workstations. Previously, this type of equipment was mainly used in automobile production to ensure the consistency of the production line rhythm, laying the foundation for future large - scale production. It is reported that after completing relevant verifications and obtaining airworthiness certificates, the factory will gradually enter mass production as planned, achieving a leap for flying cars from "small - batch verification" to "large - scale manufacturing". (CCTV News)
China Payment and Clearing Association: Eliminate Default Activation of "Contactless Payment" and Provide One-Click Cancellation Function
Reporters learned from the China Payment and Clearing Association on the 12th that with the rapid development and wide application of mobile payment technology, the "contactless payment" service has significantly shortened the transaction time and enhanced the user's payment experience by simplifying the payment process. While improving convenience, there is still room for improvement in the business safety management of some payment service providers, and some users also have weak safety awareness. To further standardize the implementation of the "contactless payment" service and effectively protect users' rights and interests, the China Payment and Clearing Association has issued an initiative to payment service providers and the general public. It was mentioned that authorization management should be standardized to ensure the true intention of users. At the user activation stage, the user's identity information should be strictly verified, and the user's intention to activate the service and the signing of the "contactless payment" agreement should be completed on a prominent page. Default activation should be eliminated to fully guarantee the user's right to choose and the right to know when activating the "contactless payment" service. Comprehensively assess the risk preferences and business tolerance of the elderly, display the core terms of the service in a prominent manner, and be prudent when activating the "contactless payment" function for the elderly. (CCTV News)
Aofei Data: There is currently no direct business cooperation with Moore Threads
36Kr learned that Aofei Data stated on the interactive platform that both the company and Moore Threads are shareholders of Ultra-Fire Semiconductor (Nanjing) Co., Ltd. There is currently no direct business cooperation between the company and Moore Threads.
CATL: Exported 120 GWh of lithium-ion batteries in the first three quarters, accounting for nearly 60% of the national total
On November 12, Zeng Yuqun, the chairman of CATL, said at the opening ceremony of the 2025 World Power Battery Conference that in the first three quarters of this year, the total export value of the "new three items" exceeded 900 billion yuan, among which lithium-ion batteries contributed nearly 400 billion yuan, accounting for more than 40%. Among the total lithium-ion battery exports of nearly 200 GWh, CATL exported 120 GWh, accounting for nearly 60%. (Jiemian News)
Ren Moumou, a researcher at ByteDance Seed, was exposed to have been fired for leaking secrets
Blue Whale Technology reporters learned from people familiar with the matter that Ren Moumou, a researcher at ByteDance Seed, has left the company and was fired for leaking secrets. During his tenure at ByteDance, Ren Moumou was a core participant in the robot operation large model GR - 3 project. Before joining ByteDance, he worked as an engineer at LuoShi Robotics and Xiaomi. (Blue Whale News)
SpaceX Launches $40-per-Month Starlink Home Package in the US
Electric vehicle analyst Sawyer Merritt posted that SpaceX has launched a new and cheaper Starlink home package in the United States, which costs $40 per month and offers speeds of up to 100mbps. The new "Residential 100mbps" plan includes: unlimited upload speed, unlimited monthly data, a $0 equipment kit, and free installation, with a maximum speed of 100mbps. The new $40-per-month package is currently only available in some parts of the United States. (Sina Finance)
“Woody” Buys Over $25 Million Worth of Alibaba Stocks and Continues to Reduce Tesla Holdings
Cathie Wood's Ark Investment Management (Ark Invest) conducted trades involving Chinese concept stocks such as Alibaba and Baidu on Tuesday and continued to slightly reduce its holdings of Tesla stocks. The company purchased a total of 157,731 American Depositary Receipts (ADRs) of Alibaba through its three funds, ARKF, ARKW, and ARKK. Alibaba's stock closed at $160.80, down 3.07%, and the total value of these trades was approximately $25.36 million. (Sina Finance)
Zeng Yuqun of CATL: The fifth - generation lithium iron phosphate battery products have started mass production
On November 12, the 2025 World Power Battery Conference opened in Yibin, Sichuan. Zeng Yuqun, the chairman of Contemporary Amperex Technology Co., Limited (CATL), proposed in his keynote speech that in terms of material and structural innovation, CATL has been continuously delving into the currently mass - produced fourth - generation lithium iron phosphate batteries, leading the second and third - generation products, which are the mainstream in the industry, in terms of high specific energy, long service life, and high power. Zeng Yuqun also pointed out that on this basis, recently, CATL's fifth - generation lithium iron phosphate battery products have started mass production, achieving new breakthroughs in energy density and cycle life. (Jiemian News)
Meituan: Launches Rider Distress Care Program, Offers Up to 50,000 Yuan in Distress Comfort Money
On November 12th, Meituan announced the launch of the Rider Distress Care Program. Once a distress incident verified as being "not the rider's responsibility" is approved through the review, the platform will provide up to 50,000 yuan in distress comfort money, along with legal assistance from the platform. (Jiemian News)
The Ministry of Public Security will restrict cars with an acceleration time of less than 5 seconds from 0 to 100 km/h
To promote the safe driving of cars, relevant departments are taking action. Recently, in accordance with the standard formulation and revision plan of the Standardization Administration of China, the Ministry of Public Security has organized and completed the solicitation draft of the national standard "Technical Conditions for Safe Operation of Motor Vehicles" (hereinafter referred to as the "Conditions"). It mentions the speed - limit requirements: After each start of a passenger car, it should be in the default state where the acceleration time from 0 to 100 km/h is no less than 5 seconds.
At the same time, pure - electric and plug - in hybrid passenger cars should be equipped with a function to suppress accidental acceleration caused by mis - stepping on the pedals. It can detect and suppress the power output when the vehicle is stationary or creeping, and prompt the driver through an obvious signal device (e.g., sound or light signal). (Yicai Global)
The three major U.S. stock indexes closed mixed, and most popular Chinese concept stocks fell
36Kr learned that at the close on November 12, the three major U.S. stock indexes closed mixed. The Dow rose 0.68% to a new closing high, the Nasdaq fell 0.26%, and the S&P 500 index rose 0.06%. Large technology stocks closed mixed. Meta and Tesla fell more than 2%, Amazon and Google fell more than 1%, and Apple fell slightly; Netflix rose more than 1%, and Microsoft, Nvidia, and Intel rose slightly. Most popular Chinese concept stocks fell. Tencent Music fell more than 8%, XPeng Motors, NIO, iQiyi, and Baidu fell more than 2%, and Li Auto, Alibaba, and JD.com fell more than 1%; 36Kr rose more than 5%, and Miniso and NetEase rose slightly.
Scenic Area Responds to Chery's Failed Attempt to Climb the Heavenly Ladder and Damaged Guardrails
On November 12, multiple netizens posted videos showing a car trying to climb the Heavenly Ladder outside Zhangjiajie Tianmen Mountain Scenic Area. The videos showed that the car rolled back after climbing a certain distance. In response, reporters called Zhangjiajie Tianmen Mountain Scenic Area. The staff said that it was an event for Chery cars to climb the Heavenly Ladder, which was scheduled for November 12 and 13. Whether it would be held on the 13th depended on the on - site situation. The last vehicle to successfully reach the top was a Land Rover Range Rover. The staff also said that the event had been reported in advance and corresponding safety measures had been taken. It is reported that this is the second attempt of the Chery X3L to climb the Tianmen Mountain Heavenly Ladder. In September this year, this model also attempted to climb the ladder, but the attempt was suspended due to bad weather. (First Help Group)
Luokung Responds to Returning to the U.S. Main Board for Listing
In response to the matter of relisting, relevant personnel from Luokung stated that Luokung Coffee will continue to monitor the U.S. capital market. However, the company currently has no definite timeline for returning to the main board for listing. The primary task at this stage is still to implement the company's business strategy and focus on development. Previously, at an event hosted by the Xiamen Municipal Government, Guo Jinyi, the co - founder and CEO of Luokung Coffee, publicly stated that the company is actively promoting the process of relisting on the U.S. main board under the guidance of the Xiamen Municipal Government. (Cailian Press)
Jingao Technology Responds: Online Rumors Are False
Jingao Technology announced in the evening of November 12th that recently, there have been false rumors about Jingao Solar Technology Co., Ltd. on the Internet, which have attracted some attention. In response, the company clarifies and solemnly declares as follows: The company's secretary of the board of directors has never made the so - called online remarks at any internal or external meetings. The relevant content is an online rumor, which seriously misleads the public and damages the reputation of the company and the industry. Regarding the dissemination of false remarks, the company reserves the right to pursue relevant responsibilities through legal channels. The company reminds investors, partners and the general public that they should obtain the real information through the information disclosure media designated by the China Securities Regulatory Commission and the company's official channels, not believe or spread rumors, and jointly maintain a healthy market order and public opinion environment. (Jiemian News)
To Save Costs, the U.S. Mint Stops Producing One - cent Coins
The U.S. Mint stopped producing the lowest - denomination coin, the one - cent coin, on the 12th local time, aiming to save costs. On February 10th local time, U.S. President Donald Trump said that due to rising costs, he had instructed the Treasury Department to stop minting new one - cent coins. Trump said that the cost of minting a one - cent coin in the United States actually exceeded two cents, which was "a huge waste." (Caixin Press)
Going Public in Progress
Transsion Holdings
36Kr learned that Transsion Holdings announced that the company held the 20th meeting of the 3rd - session board of directors on November 12, 2025, and deliberated and approved the proposal for the company to issue H - shares and list on the Main Board of The Stock Exchange of Hong Kong Limited, etc. The company intends to issue shares (H - shares) overseas and list on the Main Board of The Stock Exchange of Hong Kong Limited to enhance the company's comprehensive competitiveness, improve its international brand image, and utilize the international capital market to diversify its financing channels. The issuance of H - shares and listing this time still need to be submitted to the company's shareholders' meeting for deliberation, and require the filing, approval and/or verification of relevant government agencies and regulatory authorities. As of the date of the announcement, the specific details have not been determined.
Vipshop
Vipshop is reported to be considering a Hong Kong listing as early as next year. (Sina Finance)
Qiangyi Semiconductor
36Kr learned that the IPO application of Qiangyi Semiconductor (Suzhou) Co., Ltd. on the Science and Technology Innovation Board has been approved by the listing committee meeting.
BLT Biopharm
36Kr learned that BLT Biopharm issued an announcement stating that the shares were originally scheduled to commence trading on the Stock Exchange at 9:00 a.m. on November 17, 2025. In view of the prevailing market conditions, after consulting the overall coordinator, the Company has decided that the Global Offering will be postponed and will not be conducted in accordance with the Prospectus. Therefore, the International Underwriting Agreement will not be entered into, and the Underwriting Agreement for the Public Offering will not become unconditional.
Zhenshi Co., Ltd.
36Kr learned that the Listing Review Committee of the Shanghai Stock Exchange has scheduled the 55th Listing Review Committee Meeting in 2025 to be held on November 18, 2025, to review the initial public offering (IPO) of Zhejiang Zhenshi New Materials Co., Ltd.
The Cutting - Edge of AI
ZhiYuan Robotics Announces New Patent for Interactive Robots
36Kr learned that according to the AiQiCha App, recently, ZhiYuan Innovation (Shanghai) Technology Co., Ltd. applied for and announced a patent for "Interaction Method, Robot, Electronic Device, and Medium". The patent abstract shows that this patent provides an interaction method, a robot, an electronic device, and a medium.
Russia Unveils Its First Domestically - Made Humanoid Robot: Waves Arms and Tumbles Over Due to Loss of Balance During Debut
On November 11th, Russia introduced its first domestically - made artificial intelligence humanoid robot, which waved its arms and fell over due to loss of balance during its debut. The company's CEO stated that the fall might have been caused by insufficient light or a malfunction. Reports indicate that this humanoid robot named "Eidor" is capable of having conversations, recognizing emotions, and can work offline. Additionally, this humanoid robot can operate autonomously, move, manipulate objects, and support communication functions. Reports also mention that the training process of this robot did not use any instructions or algorithms but was achieved through feedback and behavior from the external environment. (Beijing News)
SenseTime is reported to set up an AI joint innovation center in Saudi Arabia
SenseTime is reported to set up an AI joint innovation center in Saudi Arabia. (Cailian Press)
AI company Anthropic expects to rapidly expand its revenue
It is reported that with the support of partners such as Microsoft, Anthropic, an artificial intelligence company founded in 2021 by former OpenAI members, expects its enterprise business to grow rapidly and achieve positive cash flow by 2027 - 2028, which contrasts with OpenAI's recent heavy spending. (Sina Finance)
Documents Show Musk Donated $38 Million to OpenAI
Recently released court documents show that Musk once donated approximately $38 million to OpenAI. In court documents filed on November 7, Musk's lawyer stated that these donations included five quarterly grants of $5 million each in 2016 and 2017, $12.7 million in rent paid for OpenAI between 2016 and 2020, and four brand - new Tesla cars given to "key employees". Musk had previously said that he donated $100 million to OpenAI, while OpenAI believes the figure is less than $45 million. (Sina Finance)
Financial Reports of Large Companies
Tencent Music: Total revenue in the third quarter reached 8.46 billion yuan, a year-on-year increase of 20.6%
36Kr learned that Tencent Music released its third-quarter financial report. The report shows that the total revenue in the third quarter was 8.46 billion yuan, a year-on-year increase of 20.6%. The adjusted net profit was 2.48 billion yuan, a year-on-year increase of 27.7%. Among them, the revenue from online music services increased by 27.2% year-on-year to 6.97 billion yuan, and the average monthly revenue per paying user increased from 10.8 yuan in the same period of 2024 to 11.9 yuan.
Zhou Dafu: E-commerce revenue increased by 32% year-on-year in the first 10 months
36Kr learned that Zhou Dafu announced that the company's e-commerce business revenue from January to October 2025 increased by 32% year-on-year, and the net profit increased by 71% year-on-year. The net profit margin during the same period exceeded 8%.
New China Life Insurance: Premium income reached 181.973 billion yuan in the first 10 months, a year-on-year increase of 17%
36Kr learned that New China Life Insurance announced that the company's cumulative original insurance premium income from January to October 2025 was 181.973 billion yuan, a year-on-year increase of 17%.
Hon Hai's revenue in the third quarter was NT$2.06 trillion, with an estimate of NT$2.06 trillion.
Hon Hai's revenue in the third quarter was NT$2.06 trillion, with an estimate of NT$2.06 trillion; the net profit in the third quarter was NT$57.67 billion, with an estimate of NT$50.95 billion; the earnings per share in the third quarter were NT$4.15, with an estimate of NT$3.69. (Caixin Press)
Hon Hai Precision Industry's third - quarter revenue reached NT$257.86 billion, with a net profit of NT$4.55 billion
Hon Hai Precision Industry's third - quarter revenue was NT$257.86 billion, compared with an estimated NT$270.84 billion; the net profit was NT$4.55 billion, compared with an estimated NT$3.72 billion; the earnings per share were NT$1.69, compared with an estimated NT$1.45. (Caixin Press)
Investment and Financing
Lanxi Zhide New Energy Materials Co., Ltd. Officially Completes Series D+ Strategic Financing
36Kr learned that Lanxi Zhide New Energy Materials Co., Ltd. has officially completed its Series D+ strategic financing. The exclusive strategic investment was made by Puquan Capital (CATL Capital), the sole industrial investment platform under CATL. The funds will be mainly used for core technology R & D, industrial chain strengthening, etc.
“Andao Pharmaceutical” Completes Series C Financing of Over 400 Million RMB
36Kr learned that, according to Yifeng Capital, recently, “Andao Pharmaceutical” announced the completion of a Series C financing of over 400 million RMB. This round of financing was invested by institutions such as Yuanda Industrial Finance (Huadong Medicine is the main LP), Taiping Healthcare Fund, C&D Emerging Investment, Hangzhou Taikun, Zhejiang Province's “4+1” Biomedical and High - end Equipment Industry Fund, Guangzhou Industrial Investment, Guangzhou Development Zone, Kejin Holdings, Hangzhou Talent Fund, etc.; Old shareholders such as Yifeng Capital, Banyan Capital, and Northern Light Venture Capital participated in the follow - on investment. The funds raised in this round will be mainly used to accelerate the global clinical research of AND017 and AND019, as well as the IND research of the company's in - development small - molecule drugs and ADC drugs.
"Yunji Avionics" Completes Angel Round Financing of Over 10 Million Yuan
36Kr learned that "Yunji Avionics", a developer and manufacturer of intelligent integrated avionics systems, announced the completion of an angel round financing of over 10 million yuan. This round of financing was led by the Seed Investment Fund of Beijing Economic - Technological Development Area, and the funds raised will be used to enhance R & D capabilities and capacity building.
"Infinite Space" Completes Pre-A Round of Financing Worth Tens of Millions of Yuan
36Kr learned that recently, "Infinite Space", an innovative enterprise in the field of in-orbit services for commercial space, announced the completion of a Pre-A round of financing. The financing was led by Shenzhen Guarantee Venture Capital, with four institutions, namely Shouren Co-creation, Qianhai Honghui, Nanxun Talent Fund, and Shenzhen Angel Fund, jointly participating in the follow-on investment. The financing amount reached tens of millions of yuan. This round of financing will be mainly used for the research, development, and production of the first flight product of the space bus, including key links such as component manufacturing, final assembly testing, and ground verification.
The margin trading balance in the two markets increased by 4.022 billion yuan
36Kr learned that as of November 11, the margin trading balance on the Shanghai Stock Exchange stood at 1.263197 trillion yuan, an increase of 3.198 billion yuan from the previous trading day; the margin trading balance on the Shenzhen Stock Exchange was 1.216068 trillion yuan, an increase of 824 million yuan from the previous trading day; the total balance of the two markets was 2.479265 trillion yuan, an increase of 4.022 billion yuan from the previous trading day.
Cool Products
Sony Launches New Budget Gaming Console, Emulating Nintendo with Japan-Only Release
Sony Group Corporation has significantly cut the price of its PlayStation 5 in Japan and launched a new model that can only be used in Japan. This move borrows from the strategy Nintendo adopted for the Switch 2. Sony announced via a live stream on Wednesday that the region-restricted digital version of the PlayStation 5 is priced at 55,000 yen (approximately $357). This price represents a nearly one-quarter reduction from the previous 72,980 yen and is also much lower than the $499 price in the US market. Pre-orders for the product will start on Thursday, and it will be officially launched on November 21. (Sina Finance)
NetEase Cloud Music's Intelligent Transition AutoMix Officially Launched
36Kr learned that recently, NetEase Cloud Music officially launched the "Intelligent Transition AutoMix" function. NetEase Cloud's intelligent transition function is applicable to playlists such as Daily Recommendations and song lists, achieving a continuous listening experience when switching songs through methods like beat matching and rate adjustment.
Compiled | Bursting Tofu