At 8:00, 1 Krypton | The new regulations for power banks will be implemented, and the original 3C certification will be completely invalidated; Shanghai Metro is piloting "standing-room carriages"; Super Monkey's customer service responds to the "store closure wave"
Today's Hotspot Guide
- The number of primary school students in Hong Kong has dropped to a 30-year low.
- Reports suggest that Apple's iPhone Fold folding-screen phone has achieved a crease-free design.
- The sales volume of Oseltamivir has skyrocketed by 237% in the past 7 days.
- An African swine fever outbreak has occurred, and South Korea has issued a "serious" - level crisis alert.
- Gree's shareholders' meeting was held, and Dong Mingzhu said that the cumulative dividends have exceeded 170 billion yuan.
Top 3 Big News
The "strictest-ever" new regulations for power banks are about to take effect, and the 3C certification for power banks will become completely invalid
According to news on November 25, 2025, the new national standard for power banks, "Technical Specifications for Mobile Power Supply Safety", which is known as the "strictest-ever", is about to be implemented. It is expected to be announced in December, officially released in February 2026, and come into force in June. The existing 3C certification will expire at that time.
Regarding the new standard, the person in charge of a relevant enterprise participating in the seminar on the draft opinion said, "The standard formulated this time is very strict, and many factories will have difficulty meeting it. The Ministry of Industry and Information Technology has made its stance clear: those that fail to meet the standard should stop production, as there are always some enterprises that can meet the requirements."
The above-mentioned enterprise person in charge who participated in the meeting said, "Currently, the standard has basically been finalized. It is expected to be announced in December, officially released in February 2026, and implemented starting from June of the same year. After the new regulations take effect, the existing 3C certification regulations will become completely invalid."
It is understood that after the implementation of the new regulations, it is estimated that nearly 70% of the current production capacity will be forced to withdraw from the mobile power supply market due to the inability to meet the technical requirements of the new standard. A six - month buffer period will be set for the circulation of products that have obtained 3C certification to clear the inventory. Consumers can continue to use products with the old standard, and compliant products can still be carried on board the plane. (Sina Technology)
Shanghai Metro Pilots "Standing-only Carriages"
Recently, some netizens posted online that they took some carriages without seats on Shanghai Metro Line 9, and joked about "standing all the way home on the subway after a tiring day", which sparked a heated discussion. Some netizens believe that "this design can accommodate more standing passengers and avoid disputes over seats", while others question its rationality and suggest that "the frequency of train departures should be increased instead of removing the seats".
On November 23, a reporter called the Shanghai Metro service supervision hotline. A staff member responded that this is a pilot program based on the current large passenger flow on Line 9. "Currently, it is only piloted in one carriage of one train on Line 9 and has not been extended to other lines or carriages." As for whether it will be promoted in the future, the staff member said it has not been determined yet. "It's just a pilot, and we're not sure if it will be promoted in the next step." Regarding the suggestion from some passengers that "removing seats is inconvenient and the frequency of train departures should be increased", the staff member said that relevant feedback will be conveyed to the company. (Yangcheng Evening News)
Super Monkey Customer Service Responds to "Store Closure Wave"
Recently, some consumers have noticed that in first-tier cities such as Beijing, Shanghai, Shenzhen, and Chengdu, the fitness brand Super Monkey has new stores opening, but it is also gradually adjusting and closing some stores. In June 2024, Super Monkey announced its entry into Fuzhou and Xiamen. However, according to Jiemian News' inquiry, eight stores in Fuzhou and Xiamen quietly closed after operating for a year.
Jiemian News verified the frequent store closures with Super Monkey. The customer service staff explained that the store closures were mainly due to the non-renewal of lease contracts after expiration. They also emphasized that while closing stores, new stores were also opening, such as the all - around stores in Chengdu Renhe New City and Sanlitun Pacific Century Place that opened this month.
It is understood that Super Monkey initially entered the market with unattended fitness pods. Then in 2015, it transformed and added a group - class section. It proposed a differentiated operation policy of "pay - per - use, no annual membership cards, professional coaches, and no sales pitches", which broke the traditional logic of the fitness industry, quickly gained market attention, and became a favorite of capital. (Jiemian News)
Big Companies/Big Events
Number of Primary School Students in Hong Kong Hits 30-Year Low
On November 24, the results of the self-allocation of primary one places for new students in the Hong Kong Special Administrative Region (HKSAR) of China were announced. With the release of the relevant results, the number of school-age children who applied in the local area has dropped below 40,000, reflecting a structural decline in the school-age population. The admission results of this round involve new primary one students who will enroll in September 2026. According to the latest data released by the Education Bureau of the HKSAR on November 21, a total of 37,581 people applied for self-allocation of places this year, a year-on-year decrease of 4,200, a decline of about 10%. Another estimate by the bureau shows that the population of 6-year-old children eligible to enter primary one in the local area will continue to decline from 48,600 this year to only 34,100 by 2030, a total decline of nearly 30%. Calculated by district, the declines in Wan Chai, Yau Tsim Mong, Eastern, Tsuen Wan and Central and Western Districts in Hong Kong are relatively large, ranging from 42.8% to 55.6%. Fewer than 38,000 primary school students applied for the relevant places, which is the first time in nearly 30 years in Hong Kong that the number has fallen below 40,000. (Caixin Magazine)
Apple's Sales Department Lays Off Staff, and Production of iPhone Air Is Significantly Cut
Apple's sales department has officially announced layoffs. The tech company is actively addressing the sluggish sales of iPhones. As the holidays approach, Apple will also usher in its annual sales peak season. On November 24 local time, Apple confirmed that it will cut some sales teams. The company said that this move is to "enhance customer engagement" and emphasized that only a few positions will be affected by the layoffs. Apple did not specify which sales positions will be affected, but said that the company will continue to recruit for new positions, and employees affected by the layoffs can also apply for new positions within the company. The last quarter of each year is usually Apple's sales peak season. It is not yet certain whether the layoffs will have any impact on Apple's sales season this year. However, according to previous analysis reports from multiple brokerage institutions, the sales of Apple's new iPhone series still face challenges, especially the newly launched iPhone Air model has received a cold response. The iPhone Air is the biggest adjustment to the smartphone design by the company in recent years, but according to the early data tracked by institutions, the sales volume is lower than expected. (Yicai Global)
Liang Hong, Founder of a Hundred-Billion Private Equity Firm, Issues an Apology in a Post
Since 2025, the A-share market has shown a pattern of a slow and fluctuating bull market, and the overall performance of private equity funds has been remarkable. Among them, the stock strategy led the five major strategies with an average return rate of 29.52%, and 92.73% of relevant products made profits. However, the recent market correction has caused a significant decline in the net value of some private equity products. Liang Hong, the chairman of Xiva Investment, a hundred-billion private equity firm, has attracted market attention due to the significant decline in the net value of his firm's funds. The latest weekly report of Xiva shows that the estimated net value of some funds dropped by about 7% in a single wave, and the cumulative decline from the peak reached 20%. In the weekly report, Liang Hong sincerely apologized to investors and conducted an in-depth analysis of the three major mistakes behind the decline. (National Business Daily)
Three Squirrels Co., Ltd. has registered the trademark "Squirrel Dad"
36Kr learned that recently, some netizens reported that within the Three Squirrels company, the CEO is called "Squirrel Dad" and the boss's wife is called "Squirrel Mom". Some netizens even asked the customer service to confirm these two nicknames, and the customer service responded that it was true. Three Squirrels Co., Ltd. was established in February 2012. The legal representative is Zhang Liaoyuan, and the registered capital is 401 million yuan. Its business scope includes food production, food operation, retail of souvenirs and handicrafts with the Three Squirrels logo, sales and operation of self - owned brands and animation image products, etc. It is jointly held by Zhang Liaoyuan, Anhui Liaoyuan Investment Management Co., Ltd., Anhui Songguo Investment Management Center (Limited Partnership), etc. Intellectual property information shows that the company has successfully registered multiple "Squirrel Dad" trademarks, and the international classifications involve convenience foods, daily chemical products, jewelry and watches, etc.
Peng Zhihui, also known as "Zhi Huijun", Elected Chairman of Shangwei New Materials
On November 25th, Shangwei New Materials Technology Co., Ltd. (688585.SH) (hereinafter referred to as "Shangwei New Materials") held its third extraordinary general meeting of shareholders in 2025. According to the company's announcement, at this extraordinary general meeting, Peng Zhihui, Tian Hua, Zhou Bin, Jiang Qingsong, and Niu Jia were elected as non - independent directors of the company's fourth - term board of directors through the cumulative voting system.
In addition, according to the official website of Zhiyuan Robotics, Peng Zhihui currently also serves as the co - founder, president, and CTO of Zhiyuan Robotics. (Yicai Global)
African Swine Fever Outbreak: South Korea Issues "Severe" - Level Crisis Alert
The Central African Swine Fever Incident Response Headquarters in South Korea reported on the 25th that an African swine fever outbreak occurred at a pig farm in Tangjin City, South Chungcheong Province. Starting from that day, the headquarters raised the African swine fever crisis alert level across the country to the "severe" level.
It is understood that the pig farm where the outbreak occurred had a total of 463 pigs. Two pigs died from the 17th to the 18th of this month, and four more died from the 23rd to the 24th. After the South Chungcheong Provincial Health Inspection Institute examined the dead pigs and another 14 pigs on the farm, it was determined that the relevant pigs were positive for the swine fever virus. Subsequently, the epidemic prevention department dispatched an epidemic prevention team to disinfect 28 pig farms within a 10 - kilometer radius of the affected pig farm and took measures to restrict movement. This African swine fever outbreak is the second one in South Korea since the outbreak in Yeoncheon County, Gyeonggi Province, in September this year, and it is also the sixth African swine fever outbreak in the country this year. (Yicai Global)
Return rate of women's clothing live - streaming sales exceeds 80%, and giant hangtags fail to resolve trust crisis
Recently, anti - tamper hangtags "bigger than a face" on some online - purchased clothing have sparked heated discussions. Merchants admit that this is a last - ditch effort to prevent customers from "wearing for free" under the "seven - day no - reason return" policy. The giant hangtags may seem absurd, but in essence, they are an extreme manifestation of the high "trust cost" in the e - commerce field. The clothing industry has long been under the pressure of high inventory and fast turnover, and the increasingly prevalent phenomenon of "wearing for free" in recent years has made things even worse for clothing operators. Public data shows that the return rate of women's clothing on e - commerce platforms is as high as 50% to 60%, and the return rate for live - streaming sales even exceeds 80%.
Given that platform rules often tend to protect consumers, merchants find it difficult to take countermeasures through normal means. They are forced to resort to the "giant hangtag" as a physical deterrent, hoping to discourage opportunists who intend to "rent clothes for free" by increasing the inconvenience of trying on. (Beijing Daily)
The sales volume of Oseltamivir soared by 237% in the past 7 days
Since November, the influenza activity across the country has risen rapidly, and Beijing has entered the high-incidence period of respiratory infectious diseases. Data shows that the sales volume of Oseltamivir soared by 237% in the past 7 days, and that of Xofluza (baloxavir marboxil) increased by 180%. On the afternoon of November 24, reporters visited multiple pharmacies and medical institutions in Beijing and found that despite the surge in the demand for purchasing drugs, the popular anti-influenza drugs were all in sufficient stock and could be purchased or reserved both online and offline. (China National Radio)
Novo Nordisk: Oral semaglutide has no efficacy against Alzheimer's disease
On November 24, Novo Nordisk stated that a clinical trial of its oral semaglutide for the treatment of Alzheimer's disease had failed and failed to slow down the progression of the disease. Novo Nordisk's pre - market stock price tumbled by more than 10%. (Yicai Global)
Shenzhou-22 spacecraft launched into space
According to the China Manned Space Engineering Office, at 12:11 on November 25, 2025, Beijing time, the Long March 2F Y-22 carrier rocket carrying the Shenzhou-22 spacecraft was launched at the Jiuquan Satellite Launch Center. About 10 minutes later, the spacecraft successfully separated from the rocket and entered the predetermined orbit, and the launch mission was successfully completed. After the spacecraft entered the orbit, it will conduct an autonomous and rapid rendezvous and docking with the space station complex according to the predetermined procedure. (CCTV News)
TSMC Responds to "Former Executive Jumped to Intel with 20 Boxes of Confidential Documents": Suspected of Leaking Secrets, Lawsuit Filed
According to previous reports, 75-year-old Wei-Jen Lo retired from TSMC at the end of July this year. Before his retirement, he used his executive power to ask his subordinates to brief him and took away a large number of photocopied confidential materials related to the most advanced process technologies such as 2nm, A16, and A14nm. On Tuesday evening Beijing time, TSMC announced that it had filed a lawsuit against former senior deputy general manager Wei-Jen Lo on the 25th. TSMC revealed that when Lo retired in July this year, the company's legal supervisor informed him of the non-compete obligation and asked about his future plans. Lo replied that he would take a position at an academic institution and did not disclose that he would go to Intel. After completing the resignation procedures, Lo immediately went to Intel to serve as an executive vice president (EVP). As it is highly likely that he will use, disclose, inform, deliver, or transfer TSMC's business secrets and confidential information to Intel, the company deems it necessary to take legal action (including claiming compensation for breach of contract). (Cailian Press)
Domino's Pizza CEO Andrew Rennie Steps Down
Domino's Pizza Group announced on November 25 that, by mutual agreement, Andrew Rennie has stepped down as Chief Executive Officer (CEO) and a director of the board with immediate effect. The board has initiated the process to select a successor for the CEO position. Until a formal appointment is made, current Chief Operating Officer Nicola Frampton will serve as the interim CEO and join the board. (Jiemian News)
Gree's shareholders' meeting was held, planning to distribute 5.585 billion yuan in dividends. Dong Mingzhu said the cumulative dividends exceeded 170 billion yuan
On November 24th, news reported that the second extraordinary general meeting of shareholders of Gree Electric Appliances (000651.SZ) in 2025 was held in Zhuhai. At the meeting, the management of Gree Electric Appliances answered multiple questions related to product planning, channel transformation, dividend repurchase, and going global.
According to the "Interim Profit Distribution Plan for 2025" reviewed this time, Gree Electric Appliances plans to distribute a cash dividend of 10 yuan (including tax) for every 10 shares, with a total cash dividend of 5.585 billion yuan.
Regarding dividends, Dong Mingzhu said, "I understand everyone's expectations for dividends, but please also note that since its listing, Gree has only raised a total of 5 billion yuan in funds, while the cumulative dividends have exceeded 170 billion yuan. Shareholders hope the 'horse can run', so please also ensure the 'horse has grass to eat'." (Red Star News)
Mengjie Co., Ltd. Responds to Director Chen Jie's Allegations: Relevant Statements Are Malicious Fabrications, and a Report Has Been Filed with the Police
36Kr learned that Mengjie Co., Ltd. issued a "Serious Statement on Malicious and False Online Information" on its official WeChat account, stating that Chen Jie, a director of the company, posted "real - name accusations" on her personal self - media, claiming that the company and relevant senior executives had engaged in improper behaviors such as "setting up traps" and "luring someone into a snare." All relevant statements are based on subjective assumptions or malicious fabrications, which have seriously infringed on the reputation rights of the company and relevant senior executives, disrupted the order of the capital market, and are suspected of misleading investors. The company has filed a report with the public security organs and initiated civil litigation procedures.
Jiyue Automobile's pre - reorganization application accepted, may be expected to "revive"
On November 25th, Jiyue Automobile released the "Announcement of Shanghai Jidu Automobile Co., Ltd. on Initiating the Pre - Reorganization Procedure", stating that Shanghai Jidu Automobile Co., Ltd. (Brand: Jiyue Automobile) recently submitted a pre - reorganization application to the Third Intermediate People's Court of Shanghai, and the application was officially accepted on November 21, 2025. The court simultaneously appointed Zhong Lun Law Firm (Shanghai) to serve as the interim administrator to promote subsequent pre - reorganization related work in accordance with the law. Public information shows that on November 24th, a new bankruptcy review case was added to Shanghai Jidu Automobile Co., Ltd., an affiliated company of Jiyue. The applicant is Shanghai Jidu Automobile Co., Ltd., and the handling court is the Third Intermediate People's Court of Shanghai. At the end of 2024, Jiyue Automobile encountered operational difficulties, and problems such as overdue payments to suppliers and overdue wages to employees were exposed. (The Paper)
Hermès Launches New Stainless Steel Dog Bowls Priced at 20,000 Yuan, Customer Service: Only a Small Quantity in Stock
Jiemian News noticed that recently, luxury brand Hermès has launched two different models of stainless steel dog bowls on its official website, priced at 18,300 yuan (small size) and 20,600 yuan (large size) respectively. The product introduction page shows that this round dog bowl is made of 100% stainless steel, with a diameter of 14.5 cm and a height of 6.5 cm. It is made in France. Its design is inspired by Hermès' Punch series, decorated with an inlaid "Clou de Forge" pattern and engraved with the words "Hermès Sellier Paris". It can also be washed in the dishwasher. Jiemian News learned from Hermès customer service that this dog bowl is a new product for the spring of 2026 and is available on the official website and Hermès mini-program. There is only a very small quantity of the large-sized dog bowls in stock. When asked if it is available in offline stores, such as those in Beijing, the customer service said that there is currently no stock. (Jiemian News)
China National Space Administration: By 2027, basically achieve high - quality development of commercial space industry
On November 25th, the China National Space Administration issued the "Action Plan for Promoting High - quality and Safe Development of Commercial Space (2025 - 2027)" (hereinafter referred to as the "Plan"). It is mentioned that by 2027, the industrial ecosystem of the commercial space industry will be highly efficient and collaborative, scientific research and production will be carried out in an orderly and safe manner, the industrial scale will be significantly expanded, and high - quality development of the commercial space industry will be basically achieved. The "Plan" points out that government procurement will be expanded, the government procurement service mechanism will be improved, and commercial capabilities such as commercial launch vehicles, commercial satellites, commercial launch sites, and commercial measurement, control and operation facilities will be promoted to participate in national space missions. (Star Market Daily)
Going public in progress
Meta HSTN
On November 25th, it is reported that Meta HSTN's AI glasses will be launched in India, with a starting price of 41,800 Indian Rupees. (Cailian Press)
The Cutting - Edge of AI
Tencent Hunyuan OCR Model Announces Open Source
36Kr learned that on November 25th, Tencent Hunyuan launched a new open-source model, HunyuanOCR, with only 1 billion parameters. Built on the Hunyuan native multimodal architecture, it has achieved SOTA (State-of-the-Art) results in multiple industry OCR application rankings.
Alibaba CEO Wu Yongming: There won't be an AI bubble for at least three years
On the evening of November 25th, during a conference call after the release of the financial report, Wu Yongming, the CEO of Alibaba, stated, "There won't be an AI bubble for at least three years." He mentioned that the pace of putting Alibaba Cloud's AI servers and other products on the market seriously lags behind customer demand, and the backlog of orders continues to increase. Wu Yongming revealed that in assessing the current and future AI demand, Alibaba has accelerated the pace of its supply chain and data center construction at the fastest speed. However, he still mentioned that the previously announced plan to invest 380 billion yuan in infrastructure over the past three years might be increased. "It now seems that this figure is too small." In addition, he said that Alibaba is making efforts in both the AI to B and AI to C directions - in the AI to B field, aiming to become a world - leading full - stack AI service provider; in the AI to C field, striving to create a super - native AI application for end - users. (Yicai Global, Sina Tech)
Baidu Establishes Two New Large Model R & D Departments, Reporting Directly to the CEO
On November 25th, Baidu issued an announcement regarding the establishment of a technology R & D organization. It has newly established a Basic Model R & D Department, which is responsible for researching and developing highly intelligent and scalable general artificial intelligence large models and is led by Wu Tian. It has also newly established an Application Model R & D Department, which is responsible for the optimization and exploration of specialized models required for business application scenarios and is led by Jia Lei. Wang Haifeng will continue to serve as the CTO, Chairman of the TSC, and Dean of the Baidu Research Institute. All of the above departments report to Baidu CEO Robin Li. (Jiemian News)
Li Xiang, Founder of Li Auto: Li Auto Will Release Smart Glasses and Won't Make Phones
On November 26th, Li Xiang, the Chairman of Li Auto, posted a video on a social platform to respond to netizens' questions. Li Xiang stated that Li Auto won't make phones, and the Li Auto Assistant APP can be used on phones. Li Xiang said that some ecological products equipped with Li Auto's AI capabilities will be launched, including smart glasses. "The Li Auto AI glasses are the best AI accessories of Li Auto." In addition, Li Xiang revealed that the Li Auto AI speaker is also under consideration, hoping that Li Auto's AI capabilities can achieve more comprehensive coverage among Li Auto's users. (Red Star News)
NVIDIA Speaks Out: NVIDIA Leads the Industry by a Whole Generation - The Only Platform Capable of Running All AI Models and Deploying in All Computing Scenarios
On November 25th, NVIDIA officially stated that "NVIDIA leads the industry by a whole generation - it is the only platform capable of running all AI models and deploying in all computing scenarios." Analysts believe that NVIDIA's move is to address Wall Street's concerns that the company's dominant position in the AI infrastructure field may be threatened by Google's chips. When this statement was released, there were reports that Meta, one of NVIDIA's important customers, might reach an agreement with Google to use Google's Tensor Processing Units (TPUs) in its data centers. (Star Market Daily)
Google Collaborates with Accel to Support Indian AI Startups
Google, a subsidiary of Alphabet, and venture capital firm Accel said that executives from the two companies will collaborate to fund at least 10 early - stage Indian AI startups. This is the first such funding collaboration by the US tech giant.
Under the cooperation agreement, Google's AI for the Future Fund and Accel will jointly invest up to $2 million in each startup, with the investment focusing on broad areas such as entertainment, creativity, work, and coding. Previously, Google said in October that it would invest $15 billion over five years to build an AI data center in Andhra Pradesh, southern India. This is also Google's largest investment in India to date. (Sina Finance)
Singapore's National AI Initiative Abandons Meta's Model and Turns to Alibaba's Tongyi Qianwen
36Kr learned that on November 25th, according to foreign media reports, the Singapore National Artificial Intelligence Strategy (AISG) is making a major strategic adjustment. In its latest large language model project for Southeast Asian languages, it has abandoned Meta's model and turned to Alibaba's open - source architecture of Tongyi Qianwen Qwen.
Financial Reports of Big Companies
Alibaba: Alibaba Cloud's revenue in the second fiscal quarter of fiscal year 2026 increased by 34% year-on-year to 39.824 billion yuan
36Kr learned that Alibaba released its financial report for the second fiscal quarter of fiscal year 2026. The report shows that Alibaba Cloud's quarterly revenue increased by 34% year-on-year to 39.824 billion yuan, hitting a new high in growth rate. Among them, the revenue from AI-related products has achieved triple-digit year-on-year growth for nine consecutive quarters. The new download volume of Qianwen App exceeded 10 million within a week of its public beta. In the future, Qianwen will be gradually integrated into Alibaba's business ecosystem scenarios such as e-commerce, maps, and local life services.
NIO: Q3 Revenue Reached 21.79 Billion Yuan, a Year-on-Year Increase of 16.7%
36Kr learned that NIO released its financial report for the third quarter of 2025. The revenue in the third quarter was 21.79 billion yuan, a year-on-year increase of 16.7%, hitting a record high. The comprehensive gross profit margin in the third quarter was 13.9%, reaching a new high in the past three years. NIO delivered 87,071 vehicles in the third quarter, a year-on-year increase of 40.8%, also setting a new record. The gross profit margin of vehicles in the third quarter was 14.7%, reaching a new high in the past three years. The delivery guidance for the fourth quarter is between 120,000 and 125,000 vehicles, a year-on-year increase of 65.1% to 72.0%. The revenue guidance is between 32.76 billion yuan and 34.04 billion yuan, a year-on-year increase of 66.3% to 72.8%.
Pony.ai: Total revenue in Q3 reached 181 million yuan, a year-on-year increase of 72%
36Kr learned that Pony.ai released its financial report for the third quarter of 2025. The report shows that Pony.ai's total revenue in the third quarter was 181 million yuan, a year-on-year increase of 72%; the gross profit was 33.2 million yuan, a year-on-year increase of 233.6%. In the third quarter, the Robotaxi business achieved revenue of 47.7 million yuan, a year-on-year increase of 89.5%. In terms of mass production, the total number of Pony.ai's Robotaxi vehicles has reached 961, of which 667 are seventh-generation Robotaxis. The company expects to achieve the goal of having a fleet of over 1,000 vehicles ahead of schedule within this year and plans to triple the scale to over 3,000 vehicles by the end of 2026.
Zhihu: Revenue in the third quarter reached 659 million yuan, and the non-GAAP operating loss narrowed by 16.3% year-on-year
36Kr learned that Zhihu released its performance report for the third quarter of 2025. The report shows that Zhihu's revenue in the third quarter was 659 million yuan, and the non-GAAP operating loss narrowed by 16.3% year-on-year. During the reporting period, the paid reading business contributed 386 million yuan in revenue, accounting for 58.5%; the marketing service revenue reached 189 million yuan, accounting for 28.7%; other businesses, including vocational education and consumer goods, contributed 83.9 million yuan in revenue, accounting for 12.8%.
Investment and financing
"Lingxin Qiaoshou" Completes Hundreds of Millions of Yuan in Series A+ Round Financing
36Kr learned that according to the official WeChat account of Lingxin Qiaoshou, recently, "Lingxin Qiaoshou" officially completed a Series A+ round of financing worth hundreds of millions of RMB. This round of financing was jointly participated in by multiple investment institutions such as Zhejiang Innovation Investment, Deqing Industrial Investment, Leju Robot, CDH Baifu, Jinghua New Materials, Orient Precision, Aux, Huafu Investment, Hongyi Fund, Hongshan Capital, and Xiangyuan New Materials. Lingxin Qiaoshou will continue to improve its mass production and delivery capabilities, and plans to deliver 50,000 - 100,000 dexterous hands in 2026.
Amazon-backed X-energy Completes Nearly $700 Million in Financing, Led by Jane Street Capital
On November 24, Amazon-backed nuclear reactor developer X-energy announced the completion of a nearly $700 million Series D financing round that was oversubscribed. This financing round was led by Jane Street Capital, and new investors include Ark Investment, Galvanize, Hood River Capital Management, Point72, Reaves Asset Management, and XTX Ventures. (Jiemian News)
Cool Products
Report: Apple's iPhone Fold Has Achieved Crease-Free Design
It is reported that the supply chain has revealed that Apple has made breakthrough progress in developing a foldable iPhone, solving the most criticized crease problem of previous foldable phones and achieving a crease-free design. It will become the first truly crease-free foldable phone on the market, adding a selling point for the launch of the new foldable iPhone next year. It is reported that Hon Hai has established a dedicated production line for the foldable iPhone, indicating that the foldable iPhone is no longer in the experimental stage but has entered the engineering verification and pre-mass production process. (Cailian Press)
Compiled | Jingjing