1K News at 8: iQiyi responds to the difficulty of refunding a 25-year membership fee; The top danmaku of Bilibili in 2025 is "Salute"; The official has made it clear that the "national subsidy" will continue next year.
Today's Hotspot Guide
"Zootopia 2" becomes the first imported film in Chinese film history to attract over 100 million viewers.
Yu Hao, CEO of Dreame Technology, announced that each employee will receive an additional 1 gram of gold as a bonus this Spring Festival.
The "strictest national standard for electric vehicle power consumption in history" will be implemented next year.
Kweichow Moutai: Make every effort to prevent price speculation.
Japanese giant Kawasaki Heavy Industries admits to data falsification.
Ding Yingfeng, executive vice president of NetEase Group, announced his retirement.
Top 3 Big News
Refund Difficulties for a 25-Year Membership Purchase, iQiyi Responds
On December 28th, iQiyi's official Weibo post stated that they had noticed Mr. Huang's refund request, conducted a verification immediately, and initiated the refund process through the original payment channel. Since his original account has been deactivated, to ensure the safety of his funds, they will arrange a refund for the user based on their actual situation after verifying that the receiving account and the recharge account belong to the same person.
Previously, according to a report by Henan Broadcasting System, on December 25th in Xuchang, Henan, Mr. Huang claimed that it was very difficult to get a refund after purchasing a 25-year iQiyi membership. He said that his family members had been using the account all along, and he only noticed that the membership was valid from 2017 to 2043 when he started watching dramas recently. Mr. Huang said that after discovering this situation, he contacted iQiyi's customer service. The customer service informed him that they could refund "a total of 14 official annual membership orders recharged from January 2nd, 2018, to April 20th, 2018" through the original payment method. However, since the Alipay account he used for the recharge was no longer in use and had been registered by someone else, "the refund could only be returned to someone else's account, which I definitely disagreed with. But the customer service said this was the only solution." (Cailian Press)
Bilibili Releases the 2025 Annual Bullet Screen: The Word "Salute" Was Sent Over 22.82 Million Times This Year
On December 27th, Bilibili officially announced that the 2025 annual bullet screen is "Salute". Data shows that the word "Salute" was sent over 22.82 million times throughout the year, with over 4.59 million users sending it. Among them, 80% are post - 2000s, making it the fastest - growing new popular bullet - screen word this year. Through bullet screens, young people salute creativity, passion, kindness, and courage. Since 2017, Bilibili has selected the most representative bullet screen of the year as the "Annual Bullet Screen" at the end of each year. The "Annual Bullet Screen" has also become an important cultural window to observe contemporary young people. (Jiemian News)
Officially Confirmed: "National Subsidies" to Continue Next Year
The National Fiscal Work Conference was held in Beijing from December 27th to 28th. Lan Fo'an, the Minister of Finance, stated that next year, fiscal policies will vigorously boost consumption. A special campaign to boost consumption will be deeply implemented, and funds will continue to be allocated to support the replacement of old consumer goods with new ones. The scope and standards of subsidies will be adjusted and optimized. (Caixin)
Large Companies/ Major Events
The State Council plans to relax household registration restrictions except in individual megacities
Recently, a report on the work of establishing and improving the institutional mechanisms for integrated urban - rural development by the State Council was submitted for review at a meeting of the Standing Committee of the National People's Congress. The report pointed out that in the next step, it is necessary to improve the mechanism for equal exchange and two - way flow of urban and rural elements, and promote the full integration of agricultural transfer population into cities. Relax household registration restrictions except in individual megacities, improve the system of providing basic public services based on the place of habitual residence, and ensure that eligible agricultural transfer population enjoy the same rights as the local household - registered population in terms of social insurance, housing security, and compulsory education for their accompanying children. (Shangguan News)
Hua Shan Responds to Criticism of Mixue Bingcheng's Red Design as 'Tacky': It's a Terminal Illness of the Mind, and Even Confucius Wouldn't Agree
On the evening of December 27th, Hua Shan, the chairman of Hua & Hua Marketing Consulting Co., Ltd., responded to the criticism that Mixue Bingcheng's red design was "tacky." Hua Shan said bluntly, "Red is the king of colors. It's my favorite color and the one I use most often." He believes that those who accuse red of being "tacky" just because it's common and doesn't show "taste" are suffering from a "terminal illness of the mind." Hua Shan also quoted Confucius' famous saying, "I hate the way purple usurps the place of red." He said, "The right path in the world has always been ordinary. Purple has been usurping the place of red for three thousand years." (Phoenix Tech)
Xiaomi Group: Co-founder Lin Bin plans to reduce holdings of shares worth no more than $2 billion
36Kr learned that Xiaomi Group announced that it had received notice from Lin Bin, the co-founder, executive director, and vice chairman of the company. Lin Bin plans to start from December 2026. On the premise of complying with relevant laws and regulations and the relevant requirements of the Listing Rules of the Hong Kong Exchanges and Clearing Limited, he will sell Class B ordinary shares of the company with an amount not exceeding $500 million every 12 months, and the total cumulative amount of Class B ordinary shares sold will not exceed $2 billion. The proceeds from Lin Bin's share - reduction plan will be mainly used to establish an investment fund company.
Preccious metals have a collective breakout, with gold, silver, and platinum hitting new historical records
The prices of precious metals have repeatedly reached new highs, leading the year - end market. On the 26th local time, which was the first trading day after the traditional US holidays, precious metals such as gold, silver, and platinum once again witnessed a full - scale sharp rise, hitting new historical records. Factors such as the spill - over effect of gold liquidity, the weakening of the US dollar, and supply shortages have also driven up the prices of precious metals such as platinum and palladium. The price of platinum futures soared to a new historical high this week, breaking through the $2,400 per ounce mark for the first time, with a weekly increase of over 22%. The price of palladium futures rose by about 13%, reaching $2,023.3 per ounce, the highest level in more than three years. (CCTV Finance)
The movie "Zootopia 2" becomes the first imported movie in Chinese film history with over 100 million viewers
According to data from Maoyan Professional Edition, "Zootopia 2" has reached over 100 million viewers in 33 days since its release, becoming the first imported movie in Chinese film history to achieve this milestone. (Jiemian News)
Yu Hao, CEO of Dreame Technology, announced that each employee will receive an additional 1-gram gold reward this Spring Festival
On December 28th, an insider from Dreame revealed that Yu Hao, the founder and CEO of Dreame Technology, announced in an internal company speech that each employee will receive an additional 1-gram gold reward this Spring Festival. It is reported that there are 18,539 members in the all-staff group of a certain platform of Dreame Technology. Calculated at the current price of 1,400 yuan per gram of gold jewelry in stores such as Chow Tai Fook and Chow Sang Sang, if Dreame gives 1-gram of gold to all employees, that is a total of 18.539 kilograms (about 37.078 catties) of gold, which will cost approximately 26 million yuan. (21st Century Business Herald)
A subsidiary of Geely Automobile sues a well - known battery company for "quality issues with the delivered battery cells", claiming over 2.3 billion yuan in compensation
Sunwoda Electric Vehicle Battery Co., Ltd. (hereinafter referred to as Sunwoda EV Battery), a subsidiary of Sunwoda Electronic Co., Ltd. (SZ300207), has been involved in a lawsuit worth up to 2.314 billion yuan. According to an announcement released by Sunwoda on the evening of December 26th, Wayray New Energy Technology (Ningbo) Co., Ltd. (hereinafter referred to as Wayray) believes that the battery cells delivered by Sunwoda EV Battery have quality problems and has therefore initiated a lawsuit, which has been accepted by the Intermediate People's Court of Ningbo City, Zhejiang Province.
Reporters' inquiries found that Sunwoda EV Battery's annual operating income in the past two years has exceeded 10 billion yuan, but it has also suffered large losses, with losses of 1.56 billion yuan and 1.87 billion yuan in 2023 and 2024 respectively. Wayray is a wholly - owned subsidiary of Geely Automobile. In April 2021, Sunwoda EV Battery became a designated supplier for Wayray. (NBD)
"The strictest national standard for electric vehicle power consumption in history" will be implemented next year. The power consumption of a 2-ton vehicle per 100 kilometers should not exceed 15.1 kWh
According to a message on the website of the State Administration for Market Regulation on December 26, the national standard "Limits of energy consumption for electric vehicles - Part 1: Passenger cars" will be implemented from January 1, 2026. This standard is the world's first mandatory standard for electric vehicle power consumption limits. It is understood that this standard is known as the strictest mandatory standard for electric vehicle power consumption limits in history and will be one of the access conditions for new energy vehicles to enjoy vehicle purchase tax exemptions from 2026 to 2027. If a vehicle fails to meet the corresponding exemption conditions, it will not be included in the list of vehicles eligible for purchase tax exemptions. (Jingchu Network)
New NASA Chief: The U.S. Will Return to the Moon During Trump's Term
Jared Isaacman, the new administrator of the National Aeronautics and Space Administration (NASA), recently stated that the United States will return to the moon within Trump's second term (i.e., within three years). On December 26 local time, Isaacman said in an interview that Trump's renewed commitment to lunar exploration is the key to launching the "orbital economy." Isaacman said, "We want to have the opportunity to explore and unleash the potential of the moon in terms of science, economy, and national security."
Isaacman is the founder of the U.S. payment service provider "Shift4 Payments." He has a close relationship with Elon Musk, has invested in SpaceX founded by Musk, and has taken the company's spacecraft into space multiple times. (STAR Market Daily)
Guizhou Moutai: Make Every Effort to Prevent Price Speculation
On December 28th, at the National Distributors' Association Meeting of Guizhou Moutai, Chen Hua, the Party Secretary and Chairman of Moutai Group, talked about the Moutai price issue that the society generally concerns about. He mentioned that it is necessary to keep the price reasonable and stabilize expectations. The purpose of the price market - oriented reform is to respect the laws of the market economy and the choices of consumers, and let the product price fluctuate with the market. The fundamental purpose of price fluctuation with the market is to strive to promote the balance between quantity and price based on the actual market supply and demand. Whether the price is too high or too low, it is likely to cause market fluctuations. When the inventory - to - sales ratio of the product is appropriate, the price is relatively reasonable. When the price is right, the exclusive stores can become the "first choice" for consumers. Every possible means must be exhausted and every effort must be made to prevent price speculation. This is not only responsible for the vast number of consumers but also for Moutai itself. (Daily Economic News)
Venues for the 2026 Spring Festival Gala Announced: Harbin, Yiwu, Hefei, and Yibin
On December 28th, an event was held to announce the venues for the 2026 Spring Festival Gala by China Media Group. The 2026 CCTV Spring Festival Gala will have multiple venues, namely: Harbin in Heilongjiang Province, Yiwu in Zhejiang Province, Hefei in Anhui Province, and Yibin in Sichuan Province. (Beijing News)
Japanese giant Kawasaki Heavy Industries admits to data falsification
Recently, on December 26, the Japanese Ministry of Defense imposed a penalty on Kawasaki Heavy Industries, suspending the company from participating in tenders for two and a half months. On the same day, Kawasaki Heavy Industries released a supplementary report on the company's falsification of test data for marine engines. The report admitted that there was also a situation of falsifying fuel efficiency data for the submarine engines manufactured by the company for the Japanese Maritime Self - Defense Force. Kawasaki Heavy Industries said it would take measures to prevent similar improper behaviors from occurring. In August 2024, Kawasaki Heavy Industries admitted that there were improper behaviors of falsifying test data for marine engines in the company, involving a total of 673 marine engines. In recent years, there have been a continuous stream of scandals of data falsification among Japanese companies, covering many fields such as automobiles, steel, shipbuilding, and chemicals, triggering a widespread crisis of confidence in "Made in Japan". (CCTV Finance)
Ding Yingfeng, Executive Vice President of NetEase Group, Announces Retirement and Will Serve as Company Advisor
36Kr learned that early on December 27 (during U.S. stock trading hours) Beijing time, NetEase Group issued an announcement stating that Ding Yingfeng (Ding Ding), Executive Vice President of NetEase Group and Head of the Interactive Entertainment Business Unit, will officially retire on December 31, 2025. Subsequently, he will continue to serve as an advisor to the company. In the announcement, NetEase CEO Ding Lei said, "We sincerely thank Mr. Ding Yingfeng for his dedication and contributions. He has made outstanding contributions to the success of the company's flagship games and played a key role in the construction of the company's R & D and operational capabilities."
Latest Response from Kans after Being Accused of "Adding Human Epidermal Growth Factor to Masks"
On December 27th, Kans issued a statement on its official Weibo, promising that all products under Kans do not contain human epidermal growth factor (EGF). Kans stated in the post that recently, reports about the addition of human epidermal growth factor (EGF) in its products, "Kans Plumping & Firming Essence Mask" and "Kans Whitening & Brightening Mask", have caused concerns among some consumers. After the reports emerged, the company immediately launched a comprehensive self - inspection and traceability process. As early as November 2025, the Inspection Bureau of the Shanghai Municipal Drug Administration conducted on - site verification and testing of the products, and sent samples for testing in two directions based on objectivity and fairness. The results showed that none of the tested samples contained human epidermal growth factor (EGF).
In 2019, the National Medical Products Administration clearly stated in the "Answers to Common Questions about Cosmetics Supervision and Administration" that epidermal growth factor shall not be used as a raw material for cosmetics. Any product with epidermal growth factor added to its formula or claiming to contain epidermal growth factor is an illegal product. (Jiemian News)
Japanese Rice and Egg Prices Reach Record Highs Since Statistics Began
Japanese media reported on the 27th, citing the latest statistical data, that both the prices of rice and eggs in Japan have reached record highs since statistics began. Many Japanese people sighed that rice topped with eggs has become a "luxury item", and they have to look for "more affordable alternatives" for many ingredients whose prices have risen. According to the statistical data released by the Ministry of Agriculture, Forestry and Fisheries of Japan, in the week ending December 21st, the average price of a 5-kilogram bag of rice on the market was 4,337 yen (equivalent to about 194 yuan), remaining above the high level of 4,000 yen (equivalent to about 179 yuan) for 16 consecutive weeks. (Xinhua News Agency)
It's rumored that Dingdong Maicai will be acquired by JD. People familiar with the matter: There is no acquisition plan for now
On December 27th, recently, there have been market rumors that "Dingdong Maicai will be acquired by JD." In response, Sina Technology learned from people close to JD that "there is no acquisition plan at present." (Sina Technology)
Semaglutide and Tirzepatide See Collective Price Cuts, Weight - Loss Drug Competition Heats Up in 2026
GLP - 1 drugs, once hailed as "miracle weight - loss drugs" on social platforms, are undergoing a transformation from high - premium innovative drugs to mass - accessible medical products. Recently, Cailian Press reporters noticed that at the end of 2025, a price - cut wave initiated voluntarily by multinational pharmaceutical companies Novo Nordisk and Eli Lilly quietly swept through government procurement platforms and e - commerce platforms. The actual transaction prices have nearly been halved compared to six months ago. "This is not just a year - end promotion, but a precise strategic move to gain an early advantage," several industry experts told reporters. Before Semaglutide's patent expires in 2026 and the "battle for market share" among domestic innovative drugs and biosimilars begins, the industry giants are trying to set a price anchor and build a defensive wall. (Cailian Press)
On the Road to Market
Zepto
A regulatory filing showed on Saturday that Indian quick-commerce firm Zepto has confidentially filed for an IPO and is expected to be among the most anticipated listings in the Indian market next year. Founded in 2021, Zepto currently offers over 45,000 products on its platform. Its competitors include Blinkit under Eternal and Instamart under Swiggy. (Sina Finance)
Tongxin Medical
According to the official website of the Shanghai Stock Exchange, the application for the initial public offering (IPO) of Suzhou Tongxin Medical Technology Co., Ltd. (hereinafter referred to as "Tongxin Medical") on the Science and Technology Innovation Board has been accepted. The prospectus shows that Tongxin Medical was established in 2008 and has long been dedicated to the research, development, and commercialization of fully magnetically levitated ventricular assist devices (hereinafter referred to as "artificial hearts"). Based on its independently controllable technologies and business entities in China, the United States, and Europe, it has built a business system covering the world's major markets. Currently, it has achieved rapidly growing revenues in China and the United States. As of the date of signing the prospectus, more than 670 implantations of the CH - VAD have been completed in over 80 hospitals, and the sales revenue has increased rapidly from RMB 8.272 million in 2022 to RMB 67.0598 million in 2024. (China Securities Journal)
The Cutting - Edge of AI
OpenAI Urgently Recruits Head of Security and Risk Prevention. This Position Needs to Help the Company Anticipate Potential Hazards and Risks of Misuse of Its Models
OpenAI is recruiting a new head of security and risk prevention. This position needs to help the company anticipate potential hazards and risks of misuse of its models, and then provide guidance for the company's security strategy. This recruitment comes at the end of the year, when OpenAI has been repeatedly accused of the impact of ChatGPT on users' mental health throughout the year, including several lawsuits related to non - natural deaths.
OpenAI CEO Sam Altman admitted in a post about this position on social platform X that "in 2025, we have already caught a glimpse of the potential impact of the models on mental health." In addition, there are also many "real challenges" that come with the improvement of the models' capabilities. He said that the head of security and risk prevention "is a crucial position at this critical time." (IT Home)
NVIDIA Restructures Cloud Computing Team After Exiting Competition with Amazon Web Services
According to multiple sources familiar with the matter and an internal memo, more than two years ago, Jensen Huang, the CEO of NVIDIA, put forward a vision to build a cloud computing service that could compete with Amazon Web Services (AWS). Now, NVIDIA has abandoned direct competition with such companies and restructured its cloud computing team last week. (Sina Finance)
Investment and Financing
“LightYin Technology” Secures Hundreds of Millions in Series A+ Round Financing
Recently, the perovskite photovoltaic company “LightYin Technology” announced the completion of hundreds of millions in Series A+ round financing. This round of financing was invested by investment institutions such as Qifu Capital and Shenqi Capital. LightYin Technology will focus the funds on accelerating the production capacity release of its 200MW mass - production line and expanding the implementation of scenarios for 3C consumer electronics and IoT passive terminals.
Cool Products
The 2nm era begins. Apple, Qualcomm, and MediaTek will release 2nm chips simultaneously
According to Kuaikeji, in September this year, Apple, Qualcomm, and MediaTek respectively released their annual flagship chips using TSMC's 3nm process. Entering 2026, the 2nm era arrives. Apple will launch the A20/A20 Pro, Qualcomm will introduce the Snapdragon 8 Elite Gen6 series, and MediaTek will unveil the Dimensity 9600. All these chips will be manufactured by TSMC. TSMC has initiated mass production of the 2nm process and is building three new factories to expand production capacity.
Due to the longer production cycle of the 2nm process, the chip finalization work will most likely be completed in advance. To compete with Apple, Qualcomm will launch two 2nm chips in September next year, possibly named Snapdragon 8 Gen6 and Snapdragon 8 Elite Gen6. MediaTek has only revealed one 2nm chip, the Dimensity 9600, and discussions are still ongoing regarding whether it will have different versions. (Kuaikeji)
Compiled | Chi Yu