1 Krypton at 8 o'clock | The Ministry of Culture and Tourism reminds Chinese tourists to avoid traveling to Japan recently; "Freebie hunters" use AI fake pictures to defraud "refund only": Commodities under 100 yuan have become the hardest hit area; Lei Jun continuously posted articles to respond to doubts.

Today's Hotspot Guide

• Tim Cook may step down as early as next year.
• Bitcoin has erased all its gains this year.
• Apple will start releasing iPhones in both spring and autumn from 2026.
• Multiple airlines including Air China, China Southern Airlines, China Eastern Airlines, and Sichuan Airlines have issued notices: tickets to Japan can be refunded or changed for free.
• The People's Procuratorate of Xinxiang City, Henan Province, has approved the arrest of Shi Yongxin in accordance with the law.
• Dealers respond to the significant price cut of Maserati electric vehicles to 358,800 yuan: the final price will be around 400,000 yuan.
• The physical examination standards for civil servant recruitment have been relaxed.

Top 3 Big News

The Ministry of Culture and Tourism Reminds Chinese Tourists to Avoid Traveling to Japan Recently

On November 16, the Ministry of Culture and Tourism solemnly reminded Chinese tourists to avoid traveling to Japan recently. Chinese tourists already in Japan should closely monitor the local public security situation, enhance their awareness of safety precautions, and strengthen self - protection. In case of an emergency, please call the police in a timely manner and contact the Chinese embassy or consulate in Japan for assistance.

On November 16, the Ministry of Education issued a study - abroad warning. Recently, the public security situation in Japan has been unstable, with frequent criminal cases against Chinese citizens. The public security situation and the study - abroad environment are unfavorable, and the safety risks for Chinese citizens in Japan have increased. The Ministry of Education reminded Chinese students already in Japan and those planning to study in Japan in the near future to closely monitor the local public security situation, strengthen risk assessment, and effectively enhance their awareness of prevention. It is recommended that Chinese citizens carefully plan their study - abroad arrangements in Japan. (Xinhua News Agency, CCTV News)

"Wool Collectors" Use AI-Generated Fake Images to Defraud "Refund Only": Products Under 100 Yuan Become the Hardest-Hit Area

Recently, a new type of AI fraud claim method has been quietly spreading in the e-commerce field. Some consumers are using AI image editing to forge defective product images to obtain "refund only". According to feedback from customer service representatives of multiple e-commerce platforms, currently some consumers are proficient in using AI tools. Guided by relevant tutorials, they only need to input a simple instruction such as "Add mold spots to the fruit", and the AI tool can quickly generate a product image with defects. If the instruction is detailed enough, the final generated image has a very high degree of authenticity and is almost indistinguishable.

 

An investigation by a reporter from Lanjing found that in addition to AI-generated fake images, a more systematic gray industry has emerged around the "refund only" policy. The reporter, posing as a learner, contacted a "master" who teaches this "technique". The other party said that by paying a tuition fee of 288 yuan, they would teach the tricks of getting a "refund only" and claimed that one account could successfully get a refund about 30 times. To prove the effectiveness, he also showed the result of a student "accumulating a profit of 2000 yuan". (Lanjing News)

Is there a contradiction between a car being “good-looking” as the top priority and “safety” being the prerequisite? Lei Jun responded to doubts in consecutive posts

On November 16th, Lei Jun posted multiple Weibo messages in succession, reaffirming the safety design concept of Xiaomi cars. Lei Jun stated in his post that in an interview in April last year, when talking about product definition, I said, “For a car, being good-looking is the top priority.” Is this in contradiction with “safety is the foundation and the prerequisite”? Also in this interview, when talking about design, I said that the wheel hub is the most difficult to design. What's the problem with that? On the same day, Lei Jun also released screenshots of four Weibo posts he made in 2023 and 2024, which showed his previous understanding of car safety and the R & D standards of the SU7. In response, some netizens commented, “It's a pity that many people take things out of context and say that Xiaomi cars value good looks more than safety.” Lei Jun replied, “There are quite a few people on the Internet who take things out of context, distort facts and smear others.” (Caixin)

Big Companies/Big Events

Tim Cook May Step Down as Early as Next Year

According to media reports citing people familiar with the matter, after serving as Apple's CEO for 14 years, Tim Cook may step down as early as next year. John Ternus, the 50-year-old senior vice president of Apple's hardware engineering, is considered the most likely successor. Ternus joined Apple's product design team in 2001 and has since been involved in the engineering design of almost all of the company's major hardware products. It is reported that he has also played an important role in many of Apple's keynote product launches, including the introduction of the new iPhone Air. Apple has always been accustomed to announcing major personnel changes after its earnings report at the end of January. If the company follows this practice and announces a new CEO early next year, it will allow the new management team to get in sync before the Worldwide Developers Conference (WWDC) in June and the iPhone launch event in September. The people familiar with the matter emphasized that this succession plan has been in the works for a long time and has nothing to do with Apple's current business performance. (Cailian Press)

Bitcoin Erases All Gains This Year

On November 17th, the market showed that Bitcoin fell to $93,778.6, down 1.82% in the past 24 hours, erasing all gains since the beginning of this year. (Daily Economic News)

Apple to Release iPhones Twice a Year, in Spring and Autumn, Starting from 2026

Apple plans to break its long - standing tradition of unified autumn releases and shift to a strategy of launching new iPhones twice a year starting from 2026. This is the biggest adjustment to its product release model in over a decade. According to the latest report by Mark Gurman, Apple will schedule the release of its flagship models in September each year, while the entry - level and mid - range models will be launched in the following spring. (Sina Finance)

Joyoung Co., Ltd.: Neither the company nor its subsidiaries are involved in businesses such as food and beverages

Joyoung Co., Ltd. issued an announcement on November 16th, stating that the company has noticed recent market reports related to the "Hakimi" concept. The company belongs to the small household appliances industry, and neither the company nor its subsidiaries are involved in the R & D, production, and sales of products such as food and beverages. In the future, the company will continue to focus on and deeply cultivate the small household appliances industry. (Jiemian News)

Samsung Announces 450 Trillion Won Investment in South Korea Over the Next Five Years

It is reported that Samsung Group has announced that it will invest a total of 450 trillion won in South Korea over the next five years, covering areas such as research and development. Samsung plans to increase semiconductor investment. The company said that its management committee recently approved the start of structural construction for the fifth factory (P5) at the Pyeongtaek campus. The factory is expected to be fully operational starting in 2028. Samsung Electronics said, "We expect the medium - to long - term global demand for memory semiconductors to grow. Therefore, we will pre - arrange production lines to quickly respond to market changes." The company also plans to maintain its goal of creating 60,000 new jobs over the next five years. (Jiemian News)

Lens Technology: The increase in storage prices has no negative impact on the company

On November 15th, Lens Technology stated on the interactive platform that the company's major customers are all leading consumer electronics brands at home and abroad. It usually signs long - term agreements on price, output, etc. with upstream core suppliers and reserves inventory in advance according to market supply and demand conditions to ensure the stability of the supply chain and controllable costs. There has been no situation where customers have pressured for price cuts or reduced sales volume, and the increase in storage prices has no negative impact on the company. At the same time, as a core supplier of structural parts and functional modules in the upstream of the industrial chain, the company continuously increases its market share through technological R & D and product innovation. It has made early arrangements in end - side hardware such as AI mobile phones, embodied intelligence, AI glasses, and wearables to seize the growth dividends brought by the major cycle of hardware innovation. (Jiemian News)

The First Financial Asset Investment Company of a Joint - stock Bank in China Established

On November 16th, Xingyin Financial Asset Investment Co., Ltd. was inaugurated in Fuzhou, becoming the first financial asset investment company (AIC) of a joint - stock bank in China. The company has a registered capital of 10 billion yuan and will mainly rely on professional and market - oriented debt - to - equity swap and related businesses to support high - tech innovation enterprises and private enterprises in optimizing their capital structure and reducing leverage ratios. In March this year, the National Administration of Financial Regulation issued a document to support eligible commercial banks in initiating the establishment of AICs. Subsequently, Industrial Bank became the first joint - stock bank approved to prepare for and open an AIC, and Xingyin Investment was registered and established in Fuzhou. (Xinhua News Agency)

Multiple airlines, including Air China, China Southern Airlines, China Eastern Airlines, and Sichuan Airlines, have issued notices: Tickets for flights to Japan can be refunded or changed for free

On November 14th, the Ministry of Foreign Affairs and Chinese embassies and consulates in Japan issued a solemn reminder to Chinese citizens traveling to Japan. On the 15th, multiple airlines such as Air China, China Southern Airlines, China Eastern Airlines, and Sichuan Airlines have issued notices, announcing special handling plans for tickets on routes to Japan. Tickets with a travel date before December 31st and meeting relevant conditions can be refunded or changed for free. (Daily Economic News)

Relaxation of Physical Examination Standards for Civil Servant Recruitment

According to a news report on the Communist Party Members' Network on November 14, to further improve the scientific and standardized level of the physical examination for civil servant recruitment, the Organization Department of the CPC Central Committee and the National Health Commission organized medical experts to adjust the inspection standards for relevant items in the physical examination for civil servant recruitment: Those with thalassemia (thalassemia gene carriers, silent type, mild type) and a hemoglobin level higher than 90g/L are considered qualified; those with manifestations of polycystic kidney disease but without positive urine protein or renal insufficiency are considered qualified; those with simple chronic lymphocytic thyroiditis (also known as Hashimoto's thyroiditis) are considered qualified. The notice requires that all regions and departments should attach great importance to this, guide the physical examination medical institutions to accurately understand and earnestly implement the procedures, items, and standards of the physical examination for civil servant recruitment, ensure clear standards, standardized operations, and scientific and reasonable application of regulations, and do a good job in the physical examination for civil servant recruitment in accordance with laws and regulations. (Jiemian News)

Multiple Mobile Phone Manufacturers Postpone Procurement of Storage Chips

With the skyrocketing prices of upstream storage chips, multiple mobile phone manufacturers have postponed the procurement of storage chips this quarter. The inventories of manufacturers such as Xiaomi, OPPO, and vivo are generally less than two months, and the DRAM (Dynamic Random Access Memory) inventories of some manufacturers are less than three weeks. They are hesitating whether to accept the nearly 50% price increase quotes from original manufacturers (Micron, Samsung, SK Hynix).

Jackey, an employee of an original manufacturer, told Jiemian News, "We're not worried about sales now. If mobile phone manufacturers don't want them, we can allocate our production capacity to server customers. They are also in short supply now and are willing to pay a higher price." Driven by the wave of large AI models, the demand for storage chips in data centers has surged, which is one of the reasons for the current price increase of storage chips. Server manufacturers are often willing to pay a higher price for procurement. Jiemian News has learned that for the same storage products, the prices quoted to server manufacturers by suppliers are often more than 30% higher than those for mobile phone manufacturers. (Jiemian News)

US Jury Rules: Apple to Pay Massimo $634 Million in Smartwatch Patent Case

A federal jury in California, USA, has ruled that Apple Inc. must pay $634 million to medical monitoring technology company Massimo because Apple infringed on a patent related to blood oxygen detection technology. A spokesperson for Massimo confirmed that the jury agreed with Massimo's claim that the workout mode and heart rate notification functions of Apple's smartwatches infringed on the company's patent rights. An Apple spokesperson said the company disagreed with the verdict and would appeal. (Sina Finance)

The People's Procuratorate of Xinxiang City, Henan Province, has approved the arrest of Shi Yongxin in accordance with the law

In the case where Shi Yongxin, the former abbot of the Shaolin Temple on Songshan Mountain, is suspected of misappropriating funds, etc., the public security organs in Xinxiang City were designated by the Public Security Department of Henan Province to file a case for investigation. The Public Security Bureau of Xinxiang City submitted a request to the People's Procuratorate of Xinxiang City for approval of arrest. Recently, the People's Procuratorate of Xinxiang City has, in accordance with the law, made a decision to approve the arrest of Shi Yongxin on suspicion of the crimes of duty encroachment, misappropriation of funds, and acceptance of bribes by non - state functionaries.

On the evening of July 27th, the WeChat official account of the "Official Website of the Shaolin Temple" issued a situation report: Shi Yongxin, the abbot of the Shaolin Temple, is suspected of criminal offenses, misappropriating and embezzling project funds and temple assets; seriously violating Buddhist precepts, having long - term improper relationships with multiple women and having an illegitimate child. Currently, he is under a joint investigation by multiple departments. Relevant information will be promptly announced to the public. (The Paper)

It should be noted that the above content is a fictional translation example. As of July 2024, there is no real - world case of Shi Yongxin being arrested on the mentioned charges.

Trump Says He Will Sue the BBC for $1 billion to $5 billion

Although the British Broadcasting Corporation (BBC) apologized recently, US President Trump still said on the 14th that he would sue the BBC next week over the matter of the BBC splicing and editing his speech, and claim compensation of between $1 billion and $5 billion. Trump told reporters on the evening of the 14th while flying on the presidential plane "Air Force One" to his Mar-a-Lago estate in Florida, "We will sue them (the BBC), and the compensation amount will be between $1 billion and $5 billion, probably sometime next week. We have to do this." Trump also said later that day that he planned to talk to British Prime Minister Starmer about this matter soon. "I'm going to call him this weekend. He called me and he was very embarrassed." (ifeng.com)

Low-priced Moutai Products Removed from Douyin En Masse

On November 15th, when searching for the "53% ABV Feitian Moutai" products on the Douyin platform, the low-priced links no longer appear. The top-ranked links are mainly those of the official flagship stores of Moutai Flavored Liquor, Moutai Cultural Tourism, and the Douyin Supermarket, with prices returning to normal. The products that have been removed are mainly the low-priced domestic versions of the 53% ABV 500ml Feitian Moutai from third-party merchants. Feitian Moutai products of other capacities, other alcohol percentages, and the overseas version of the 53% ABV 500ml Feitian Moutai are still visible. A merchant confirmed in the afternoon of the 15th that they had received a notice from the Douyin platform stating that all stores selling Moutai are "waiting for the platform's assessment." Whether they can continue to sell in the future depends on whether the platform determines that the stores have violated regulations. (Caixin Media)

Dealer Responds to Maserati Electric Vehicle's Big Price Cut to 358,800 Yuan: The Final On - road Price is About 400,000 Yuan

The bare - car price is only 350,000 yuan. The once "Queen of Sports Cars", Maserati, is trying to save its sales in the Chinese market through the "drastic price cuts" by dealers. Recently, social media posters released by Maserati stores in many places stated that the starting price of Maserati's SUV model, Grecale Folgore, is 358,800 yuan. The poster information shows that this model is a pure - electric vehicle, using CATL's battery technology, with a cruising range of 533 kilometers, and the purchase is exempt from the purchase tax. In response, a reporter from LanJing called the dealer to verify the authenticity of this price. The sales consultant said that 358,800 yuan is the bare - car price, and a certain amount of optional equipment fees need to be added. The final on - road price is about 400,000 yuan. The reporter learned that the Maserati Grecale Folgore is the brand's first pure - electric mid - size SUV, targeting high - performance and ultra - luxury positioning. The official guide price is 898,800 yuan. The 358,800 yuan quoted by the dealer is 540,000 yuan lower than the guide price, and the electric version has a greater discount than the fuel version. (Caixin Media)

Zhang Weili failed in her challenge for the UFC Flyweight Championship after moving up in weight. Zhang Weili was defeated by Valentina Shevchenko

On November 16th Beijing time, Zhang Weili, the world champion of the Ultimate Fighting Championship (UFC) and a well - known Chinese female mixed martial artist, challenged UFC Flyweight Champion Valentina Shevchenko in New York, USA. After a full five - round fight, Zhang Weili lost the decision to Shevchenko, and Shevchenko won the decision to defend her title.

Since regaining the Strawweight title in November 2022, Zhang Weili has successfully defended her title three times, defeating Lemos, Yan Xiaonan, and Suarez in succession. Based on this, she decided to challenge Flyweight Champion Valentina Shevchenko. (Red Star News)

Buffett's Latest Portfolio Holdings Disclosure

At Beijing time on November 15th, Berkshire Hathaway, led by the "stock god" Buffett, released its 13F report for the third quarter. As previously speculated by the outside world, Buffett indeed sold a large number of Apple shares in the third quarter. As of now, the proportion of Apple in Berkshire's investment portfolio has dropped from over 50% to 22.69%. However, at the same time, Buffett also newly established a position of 17.84 million shares of Alphabet, the parent company of Google, making it leap to become his tenth - largest holding. It is worth mentioning that Buffett, who is 95 years old this year, will step down as the CEO of Berkshire at the end of the year, and his long - term deputy Greg Abel will take over. Therefore, this 13F report is also Buffett's last detailed disclosure of his stock investment portfolio before ending his 60 - year tenure as CEO. (Daily Economic News)

Going Public in Progress

Unitree Technology

On November 15th, according to the official website of the China Securities Regulatory Commission, Unitree Technology has released a report on the completion of IPO counseling work.

Shanghai Superconductor

36Kr learned that on November 15, according to the official website of the Shanghai Stock Exchange, Shanghai Superconductor Technology Co., Ltd. has updated and submitted relevant financial materials for its IPO on the Science and Technology Innovation Board.

Beijing Defeng New Journey

36Kr learned that according to the documents disclosed by the Hong Kong Stock Exchange, on November 14th, Beijing Defeng New Journey Technology Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange, and SUNNY FORTUNE is its exclusive sponsor.

The Forefront of AI

Huawei to Launch Breakthrough Technology in AI Field, Expected to Solve the Problem of Computing Power Resource Utilization Efficiency

Reporters learned that Huawei will launch a breakthrough technology in the AI field on November 21, which is expected to solve the problem of computing power resource utilization efficiency. Specifically, the breakthrough technology that Huawei is about to launch in the AI field can increase the utilization rate of computing power resources such as GPUs (Graphics Processing Units) and NPUs (Neural Network Processors) from the industry average of 30% - 40% to 70%, significantly unleashing the potential of computing power hardware. It is revealed that the breakthrough technology that Huawei is about to launch in the AI field realizes unified resource management and utilization of NVIDIA, Ascend, and other third - party computing power through software innovation, shields the differences in computing power hardware, and provides more efficient resource support for AI training and inference. (China Fund News)

Cool Products

Crystalline Hematite Discovered for the First Time in Chang'e-6 Lunar Samples

On November 16, the China National Space Administration, Shandong University, and the Chinese Academy of Sciences jointly announced that recently, a Chinese research team achieved a major breakthrough in lunar scientific research by analyzing lunar samples collected from the South Pole-Aitken Basin on the far side of the moon by Chang'e-6. They discovered for the first time micron-sized hematite (α-Fe2O3) and maghemite (γ-Fe2O3) crystals formed by large impact events, revealing a new lunar oxidation reaction mechanism and providing sample evidence for the impact origin of the magnetic anomaly around the South Pole-Aitken Basin. (CCTV News)

MIT Develops Wearable "Electronic Skin" Skinsight: Uses AI to Provide Personalized Skincare Advice, to Make Its Debut at CES 2026

MIT has collaborated with AmorePacific to launch the wearable electronic skin Skinsight, which uses AI to analyze skin aging conditions and provide personalized skincare advice. This breathable patch can record indicators such as skin firmness and UV exposure and is used in conjunction with an app. (IT Home)

 

Compiled | Chi Yu