9点1氪丨系统故障致机票低至0.4折，海航：已售机票均有效；最高法：以婚姻为目的给予的购车、购房款应视为彩礼；MiniMax总市值超千亿港元
Today's Hot Topics Guide
The interest rates of short - term large - denomination certificates of deposit at banks have entered the "0 era".
Xiaomi 17 officially announced a price cut and simultaneously canceled fine - print marketing.
Apple is expected to change its CEO this year.
Bosideng customer service responded to the issue that the down - filling quantity of a 2,299 - yuan down jacket is only 86 grams.
The report shows that the number of German companies filing for bankruptcy has reached a 20 - year high.
TOP 3 Big News
HNA: All Sold Tickets Are Valid Despite System Glitch Causing Tickets to Be as Low as 0.4% Off
On the morning of January 9th, some netizens posted that there was a glitch in HNA's ticket system, and the prices of some popular routes dropped to just dozens of yuan. For example, the economy-class ticket from Hangzhou to Shenzhen was only 70 yuan, which was 0.4% off the original price, and the ticket from Guangzhou to Beijing only cost a little over 100 yuan.
In response, Hainan Airlines issued an announcement: Around 10 a.m. today, due to a temporary system glitch, the ticket prices of some routes were displayed incorrectly. We deeply apologize for the inconvenience caused to our passengers. After discovering this situation, our company immediately conducted an emergency investigation and completed the system repair. Currently, everything has returned to normal. During this period, all tickets that have been sold (successfully paid and issued) are valid, and passengers can use them normally. (China News Service)
Supreme People's Court: Car and house purchase money given for the purpose of marriage should be regarded as betrothal gifts
On January 9, 2026, the Supreme People's Court released the third batch of typical cases involving disputes over betrothal gifts. The Supreme People's Court made it clear that the money paid for house purchase, car purchase, etc. for the purpose of marriage is of the nature of betrothal gifts and can be dealt with in accordance with the judicial rules for betrothal gifts.
The trial court held that the 66,000 yuan paid by Zhao to Li at the time of engagement was for the purpose of concluding a marriage and thus belonged to betrothal gifts. Regarding the 150,000 yuan car purchase money paid by Zhao, combined with the evidence on file such as the chat records, it can be determined that the payment was for the purpose of marriage and also of the nature of betrothal gifts. Although Zhao and Li were engaged, they never went through the marriage registration formalities. Li returned to her parents' home alone less than a month after the wedding ceremony, and the two had not started a continuous and stable co - life. Therefore, Zhao's claim for the return of betrothal gifts should be supported. Considering the actual consumption of the betrothal gifts and the specific situation that Li had an induced abortion, after deducting the expenses for joint consumption, the court ruled that Li should return more than 170,000 yuan. (Jiemian News)
The total market value of MiniMax exceeds HK$100 billion
On January 9th, the Hong Kong Hang Seng Index closed up 0.32%, and the Hang Seng Tech Index rose 0.15%. The large - model company MiniMax listed on the Hong Kong Stock Exchange today. The issue price was set at the upper limit of the issuing range, at HK$165 per share. It opened more than 50% higher in the morning session and then fluctuated upwards. As of the close, it soared 109.09%, closing at HK$345 per share. The turnover reached HK$4 billion, and the total market value exceeded HK$100 billion. (Yicai Global)
Large Companies/Large Events
Interest Rates of Short - term Large - denomination Certificates of Deposit in Banks Enter the "0 Range"
On January 9th, according to a report by Time Finance, since the beginning of this year, many banks have been intensively launching the first - phase large - denomination certificates of deposit products for 2026. Based on the data statistics from the China Foreign Exchange Trade System, as of January 7th, more than 30 banks have issued announcements for the first - phase large - denomination certificates of deposit in 2026 this year. It is worth noting that currently, the interest rates of 3 - month and 1 - month short - term large - denomination certificates of deposit in many banks have fallen below the 1% level, entering the "0 range", and the interest rates are almost the same as those of ordinary time deposits. On January 9th, Jiemian News checked the large - denomination certificate of deposit pages on the mobile apps of the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, and the China Construction Bank. The annual interest rates of the short - term 1 - month and 3 - month large - denomination certificates of deposit sold by these four state - owned banks are all 0.9%, with a minimum deposit of 200,000 yuan; the annual interest rates of the 6 - month large - denomination certificates of deposit are all 1.1%, also with a minimum deposit of 200,000 yuan. (Time Finance, Jiemian News)
Food delivery platform service industry squeezes the real economy and intensifies "involution-style" competition in the industry. Official: Conduct investigations and evaluations
Recently, the Office of the Anti - monopoly and Anti - unfair Competition Committee of the State Council has conducted investigations and evaluations on the market competition situation of the food delivery platform service industry in accordance with the Anti - monopoly Law of the People's Republic of China.
When asked about the relevant background and main considerations of this move, the relevant responsible comrades said that in recent times, problems such as subsidy competition, price competition, and traffic control in the food delivery platform service industry have been prominent, squeezing the real economy and intensifying the "involution - style" competition in the industry, which has drawn strong reactions from all sectors of society. In order to promote the legal and compliant operation and fair and orderly competition of food delivery platforms and form a market order featuring high - quality products at reasonable prices and healthy competition, the Office of the Anti - monopoly and Anti - unfair Competition Committee of the State Council (hereinafter referred to as the Committee Office) has decided to conduct investigations and evaluations on the market competition situation of the food delivery platform service industry in accordance with the provisions of the Anti - monopoly Law of the People's Republic of China. (Daily Economic News)
Apple is expected to change leadership this year, with Johny Srouji emerging as the top candidate to succeed Tim Cook
According to people familiar with the matter, Apple is currently accelerating the selection process for a successor to CEO Tim Cook. Among the many candidates, Johny Srouji, the current senior vice - president of hardware engineering at the company, has risen to become the top candidate. Multiple Apple insiders have revealed that Srouji has a gentle and steady personality and is an excellent collaborator. As a result, Srouji has gained wide recognition from many executives and employees within the company. In addition to Srouji, some media reports claim that Cook is also simultaneously looking for other candidates. Currently, Apple has not announced the specific successor to Cook or the succession time. Some media reports state that 65 - year - old Cook previously told the company's management that he felt exhausted and hoped to reduce his workload. He is expected to step down as CEO as early as this year and may serve as the chairman of Apple's board of directors in the future. (CCTV Finance, Cailian Press)
Bosideng Customer Service Responds to 86 Grams of Down Filling in a 2,299-Yuan Down Jacket
On January 9th, Jiemian News queried the product number on the washing label in a netizen's photo on Bosideng's official flagship store on a third - party shopping platform and learned that the product is a men's business - series goose down jacket from the 2025 collection. It has a down fill power of over 700, is thickened and short - styled, with a detachable inner liner, and the down content reaches 90%. The down filling varies by size. Specifically, the size 175 has 86 grams of down filling, and the size 180 has 91 grams. The original price of this down jacket is 2,299 yuan, and the discounted price is 1,999 yuan. More than 2,000 orders have been placed so far. In response to netizens' doubts about the brand premium, on January 9th, Jiemian News called Bosideng's official customer service. The customer service representative stated that Bosideng's down filling meets national standards, and the price is determined not only by the amount of down filling but also by many comprehensive factors. (Jiemian News)
Zhu Jiangming: Automobile companies must never sell cars at a loss
On January 9th, it was reported that Zhu Jiangming, the founder of Leapmotor, was recently interviewed by People's Daily. When talking about how to view the price war in the new energy vehicle market, he said, "Automobile companies must never sell cars at a loss. There must be a gross profit, which is what we have always adhered to. We should adhere to the market - oriented mechanism, cultivate advantages through free competition, make products better, improve quality, and reduce costs. Only in this way can both the industry and consumers benefit." He also believes that in the next five years, the progress of China's new energy vehicle industry will continue to accelerate, the market share will continue to rise, and the speed will not be slow. (Jiemian News)
Xiaomi 17 Officially Announces Price Cut, Simultaneously Cancels Fine - Print Marketing
According to a report from Kuaikeji, on January 9th, Xiaomi officially announced a price cut for the Xiaomi 17. At the same time, it adjusted the presentation of promotional materials: not only did the promotional posters for the new - generation Xiaomi SU7 remove the fine print and enlarge the marked fonts, but the posters for the Xiaomi 17's price cut also fully adopted large fonts to showcase the selling points, without any marked content that requires magnification to be seen clearly. Regarding the previously - discussed "fine - print marketing" issue, Xiaomi issued a statement in the early hours of January 9th, saying that "fine - print annotations" have been criticized as an industry bad habit, and Xiaomi will immediately make corrections. Previously, it mainly considered legal compliance and ignored the users' feelings. Meanwhile, it emphasized that equating compliant fine print with "false marketing" is a misunderstanding, and has required all teams to use large fonts to display the description and annotation information. (Kuaikeji)
Wang Teng: Fresh graduates are welcome to join after the business develops
36Kr learned that Wang Teng, the former general manager of the marketing department of Xiaomi China and the general manager of the REDMI brand, who was dismissed due to leaking company confidential information and having a conflict of interest with the company, made explanations regarding some concerns about recruitment after officially announcing the establishment of a new company called "Today is a Good Day to Rest". Wang Teng said that in the early stage, the company will focus on building a product R & D team, and plans to gradually start building teams for marketing, sales, service, and finance after the Spring Festival. When asked why fresh graduates are not recruited, he said, "In the early stage of a startup team, we need classmates with work experience who can start working right away. Fresh graduates are welcome to join after the business develops."
Another power bank fire incident occurs in the aviation field
On January 9, Asiana Airlines of South Korea issued a notice on the same day, stating that a fire broke out in the cabin of an Asiana Airlines passenger plane flying from Incheon International Airport in South Korea to Hong Kong, China, during a flight on the evening of January 8. According to Asiana Airlines, there were a total of 284 passengers on board. The plane took off from Incheon at 7:48 p.m. local time. Around 10 p.m., a power bank carried by a passenger in the cabin suddenly caught fire. The crew used a fire extinguisher to put out the fire, and the entire handling process took about one or two minutes. The passenger who owned the burning power bank suffered minor burns on the hand. The other passengers were not affected, and no emergency procedures such as an emergency landing were triggered. The flight landed at Hong Kong International Airport as originally scheduled. (Jiemian News)
Dong Yuhui's live - streaming sales exceed 21 billion yuan in 2025
On January 9th, according to a third - party data platform, throughout 2025, the "With Hui" account gained 11.23 million followers. As of the time of publication, the account's followers have exceeded 38 million. Live - streaming e - commerce data shows that in 2025, the "With Hui" account had 421 live - streaming sessions, with an average sales volume per session ranging from 50 million yuan to 75 million yuan and an average order volume per session ranging from 500,000 to 750,000 orders. Calculating based on the lowest values, the total live - streaming e - commerce sales of the "With Hui" account in 2025 have exceeded 21 billion yuan, and the order volume has exceeded 210 million orders. (Note: The live - streaming data does not include sales from the product showcase and group - buying.) (Jiupai News)
Apple Watch's Atrial Fibrillation History Approved by the State, Set to Launch in the Chinese Market
According to Kuaikeji, the National Medical Products Administration has issued the "Class II Imported Medical Device (Registration)" qualification for Apple's "Mobile Heart Rate Atrial Fibrillation Sign Recording Software." The product was officially approved on December 26, 2025. This product consists of software on the Apple Watch and iPhone. It belongs to Class II medical devices and is suitable for patients aged 22 and above who have been diagnosed with atrial fibrillation. Its core purpose is to retrospectively estimate the duration ratio of atrial fibrillation episodes, helping patients and doctors understand the condition. However, it should be clear that it does not provide separate atrial fibrillation sign prompts and cannot replace traditional diagnosis and treatment methods or professional atrial fibrillation monitoring means. In response to this approval, Apple said that it is currently going through the formal procedures for subsequent processes and looks forward to providing this functional experience to users in mainland China soon. (Kuaikeji)
XPeng Motors has applied for dozens of robot-related patents
36Kr learned that according to the Aiqicha App, as of now, Guangzhou XPeng Motors Technology Co., Ltd. has announced over 4,000 patents. The types of patents cover design patents, invention patents, and utility model patents, with the vast majority being invention patents. It is worth mentioning that among the over 4,000 patent applications, there are dozens of robot-related patent applications, including "Control method and electronic device for bipedal robot", "Leg structure and humanoid robot", "Posture generation method, device, robot, medium, and product for humanoid robot", etc.
China Railway No. 5 Engineering Group Suspended for Rectification
Recently, information on the National Construction Market Regulation and Public Service Platform shows that China Railway No. 5 Engineering Group Co., Ltd. (hereinafter referred to as "China Railway No. 5") has been suspended for 180 days by the Ministry of Housing and Urban - Rural Development. The decision was made on December 16, 2025, and the suspension will be valid until June 14, 2026. During the suspension period for rectification, it is not allowed to undertake new engineering projects with its general contracting special - grade qualification for construction engineering. The specific reasons involved have not been made public. (Jiemian News)
Shenyin Wanguo Futures Responds: The Online Rumors Are Seriously Inaccurate and the Company Has Reported to the Police
Recently, information such as "disputes over year - end bonus distribution" and "employees being attacked while safeguarding rights due to salary cuts" at Shenyin Wanguo Futures has spread on the Internet and sparked heated discussions. On the evening of January 9th, relevant personnel from Shenyin Wanguo Futures responded, "The company attaches great importance to the relevant rumors. After an internal investigation, it was found that the online rumors seriously deviate from the facts. Currently, the company has reported the matter to the public security organs." (Securities Times)
Report Shows Number of German Corporate Bankruptcy Applications Hits 20-Year High
A report released on the 8th by the Halle Institute for Economic Research, a leading German economic research institution, shows that the number of German corporate bankruptcy applications in 2025 rose to a 20-year high, reflecting the increasing structural pressure on the German economy. Data shows that the number of corporate bankruptcy cases in Germany increased significantly in December 2025, with a total of 1,519 corporate bankruptcy applications recorded that month, 75% higher than the average level from December 2016 to December 2019. Looking at the whole year, the total number of corporate bankruptcy cases in Germany in 2025 reached 17,604, the highest since 2005. Approximately 170,000 jobs were affected by corporate bankruptcies throughout the year, also at an extremely high level. (Caixin)
Reward for "Whistleblowers" on Securities and Futures Violations Raised to a Maximum of 1 Million Yuan
On January 9th, the China Securities Regulatory Commission (CSRC) announced the "Regulations on Reward for 'Whistleblowers' of Securities and Futures Violations", which came into effect as of the date of announcement. The reward standards were significantly raised, with the bonus ratio increased. The reward amount was raised from 1% to 3% of the fines and confiscations in the case. For those who provide clues about major violations, the upper - limit of the bonus was raised from 100,000 yuan to 500,000 yuan. If the case clues provided have a major impact nationwide, or the amount involved is extremely large, or the "whistleblower" is an insider, the upper - limit of the bonus per case was uniformly raised from 300,000 yuan and 600,000 yuan to 1 million yuan. The regulations clearly state that major cases that seriously disrupt the securities and futures market order, seriously endanger financial security, and seriously infringe upon the legitimate rights and interests of investors are included in the scope of reward cases. The condition for rewardable cases was raised from a fine and confiscation amount of 100,000 yuan to 1 million yuan. (NBD)
Cross - provincial mutual assistance of medical insurance personal accounts will be implemented nationwide
On January 9th, the National Healthcare Security Administration, together with the Ministry of Finance, issued the "Notice on Doing a Good Job in the Cross - provincial Mutual Assistance Work of Personal Accounts for Basic Medical Insurance for Employees". It further optimizes the policy of mutual assistance for personal accounts, breaks geographical restrictions, strengthens the family mutual - assistance function, and expands the scope of mutual assistance for personal accounts of basic medical insurance for employees from within the province to the whole country. The notice clearly states that the scope of applicable objects for cross - provincial mutual assistance is the close relatives of participants in the basic medical insurance for employees. The mutual - assistance relationship can be voluntarily established or terminated by both parties. When the medical insurance relationship of the insured person changes, the relationship will be automatically terminated, and one person can establish mutual - assistance relationships with multiple people. The mutual - assistance funds can be used to pay the personal expenses of the assisted person for medical treatment and drug purchase, as well as the personal contributions for residents' medical insurance and long - term care insurance. Within the mutual - assistance quota, the mutual - assistance provider cannot use the personal account funds of that quota. The unused quota will be returned to the account of the mutual - assistance provider after the relationship is terminated. (CCTV News)
CES Express Pass
NAVEE WaveFly 5X Watercraft Unveiled at CES 2026
36Kr learned that at the CES 2026 in Las Vegas, NAVEE's brand - new WaveFly 5X watercraft concept product was officially unveiled. This entry - level concept product can reach a maximum speed of 85 km/h. Relying on ground - effect technology, the product can cruise 30 cm above the water surface. Without the need for a dedicated airport or runway, the WaveFly 5X can take off and land directly on the water surface and has both gliding and flying modes.
Mobvoi Launches New Products in the TicNote Series
36Kr learned that on January 7th local time, during the global technology event CES 2026, Mobvoi held a new product launch event with the theme of "Beyond Recording" and officially launched new products in the TicNote series: the first 4G AI recording earbuds TicNote Pods, the first AI recording smartwatch TicNote Watch, and the AI-native file collaboration platform TicNote Cloud.
On the Market Now
Huaci Co., Ltd.
36Kr learned that Huaci Co., Ltd. announced that the company received the "Notice Letter on the Opinions of the Review Center regarding the Application of Hunan Hualian Porcelain Industry Co., Ltd. for Issuing Stocks to Specific Investors" issued by the Listing Review Center of the Shenzhen Stock Exchange on the same day. The issuance and listing review institution of the Shenzhen Stock Exchange reviewed the company's application documents for issuing stocks to specific investors and determined that the company meets the issuance conditions, listing conditions, and information disclosure requirements. Subsequently, the matter will be reported to the China Securities Regulatory Commission in accordance with regulations to proceed with the relevant registration procedures.
Pu Tai Lai
36Kr learned that Pu Tai Lai announced that the company is planning to issue shares overseas (H shares) and apply for listing on the Main Board of The Stock Exchange of Hong Kong Limited. The aim is to promote the company's global strategic layout, leverage the advantages of the international capital market, enhance the company's overseas financing ability, improve the company's capital strength and comprehensive competitiveness, and accelerate the development of overseas business. As of now, the relevant details have not been finalized. The issuance of H shares and listing this time will not lead to changes in the company's controlling shareholder and actual controller. The issuance of H shares and listing this time needs to be submitted to the company's board of directors and shareholders' meeting for deliberation, and relevant government agencies and regulatory authorities need to be filed, approved and/or verified. There is a certain degree of uncertainty in this matter, and the company will promptly fulfill its information disclosure obligations.
Guoen Technology
36 Kr learned that according to the Hong Kong Stock Exchange, Qingdao Guoen Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are CITIC Securities and China International Capital Corporation.
The Cutting - Edge of AI
Meta to Invest in Nuclear Power Plants in Ohio and Pennsylvania to Support AI Development
Meta has reached agreements with Vistra, Oklo, and TerraPower to jointly fund nuclear power projects in Ohio and Pennsylvania, with plans to release up to 6.6 gigawatts of electricity. Joel Kaplan, Meta's head of global affairs, said, "Nuclear energy will power our AI future, strengthen the nation's energy infrastructure, and provide clean and reliable electricity for all." (Caixin)
Financial Reports of Large Companies
Geely Holding Group: First to Exceed 4 Million Annual Sales in 2025
36Kr learned that Geely Holding Group released its total sales volume for 2025. The total sales volume in 2025 was 4,116,321 units, a year-on-year increase of 26%. Among them, the sales volume of new energy vehicles was 2,293,099 units, a year-on-year increase of 58%, and the new energy penetration rate was 56%. The total annual sales volume exceeded 4 million units for the first time, reaching a new historical high.
Greenland Holdings: Expected net loss of 16 billion - 19 billion yuan in 2025
36Kr learned that Greenland Holdings announced that it expects the net profit attributable to the owners of the parent company to be between -19 billion yuan and -16 billion yuan in 2025. The figure in the same period of the previous year was -15.552 billion yuan. Affected by various factors such as the continuous decline of asset prices, the company's intensified promotion efforts to reduce inventory, and the extended development cycle of some projects, based on the principle of prudence, the company plans to make impairment provisions for inventories at risk; due to the insufficient effective market demand and weak social expectations, the settlement scale of the company's real estate business and the revenue scale of the infrastructure industry have both declined significantly compared with the same period of the previous year, and the settlement gross profit margin of the company's real estate business has also decreased compared with the same period of the previous year, resulting in further pressure on performance; the capitalization of interest on real estate projects has decreased, and the interest expenses included in the current financial expenses have increased.
LG Energy Solution Posts an Operating Loss of 122 Billion Won in the Fourth Quarter
LG Energy Solution posted an operating loss of 122 billion won in the fourth quarter, against an estimated profit of 33.05 billion won (Sina Finance).
Investment and Financing
PhotonPay Completes Tens of Millions of US Dollars in Series B Financing, Led by IDG Capital
PhotonPay, a digital finance and payment infrastructure platform, recently announced the successful completion of tens of millions of US dollars in Series B financing. This round of financing was led by IDG Capital, with follow - on investments from GL Ventures, Enlight Capital, Lightspeed Faction, and Shoplazza. Blacksheep Technology served as the exclusive financial advisor. The funds from this round will be primarily used to deepen the global payment network, upgrade the underlying technical architecture, accelerate the layout of global compliance licenses and local operations, and promote the large - scale expansion of the business.
Compiled | Zixin Xu