At 8:00, here are the latest news: The involved store of Haoxianglai apologized for "mistakenly detaining a junior high school girl as a thief for 20 minutes"; Meituan plans to acquire Dingdong for $717 million, and the founder responded; Jia Yueting released a humanoid robot.

Today's Hot Topics Guide

• Dingdong's founder responds to acquisition rumors by Meituan
• Xiaohongshu bans "fund real - time valuation bloggers"
• Tencent Games releases the 2026 winter vacation play - restriction calendar: Minors can play a maximum of 15 hours
• Liu Tao, the co - CEO of IM Motors, apologizes to Tesla for previous remarks
• Did iMoutai App crash again? The company responds: It's been "extremely hard to get a bottle" recently
• Beisheng: Ma Xuejun, the actual controller, has been investigated by the China Securities Regulatory Commission for suspected stock market manipulation

TOP 3 Big News

Haoxianglai's Involved Store Issues Apology Letter, Promises Thorough Rectification

On February 5th, the involved store of Haoxianglai Snacks on Changfu Road, Liquan issued an apology letter, apologizing for "mistakenly detaining two junior high school girls as thieves" and stating that it would carry out thorough rectification.

Previously, around 13:00 on February 2nd, after two girls finished shopping and paid at the store and left, the store received a reminder from its headquarters with a surveillance video. As a result, the two girls were suspected of stealing items from the shelves and stuffing them into their bags, and were detained for 20 - 30 minutes. During this period, the girls were refused when they wanted to contact their parents. Eventually, they opened their bags themselves to prove their innocence and were watched by passers - by. After work, Ms. Zhang, the parent of the girls, went to the store to verify the situation. It was confirmed that there were no images of theft in the surveillance. After being refused to obtain the surveillance video, she had an argument with the store clerk, and the store then called the police. That night, the store manager cooperated with the police investigation. The police confirmed that the two girls did not steal, and the incident is still being processed. According to Ms. Zhang, the two introverted adolescent girls were greatly affected by this incident. One of them cried continuously for 4 hours and even had extreme thoughts. Her main dissatisfaction was that the store did not call the police or contact the guardians and privately detained the children. (Dafeng News, Dahe Daily)

Meituan Plans to Acquire Dingdong for $717 Million: Dingdong's Founder Responds in an Internal Letter

36Kr learned that Meituan announced that on February 5, 2026 (outside trading hours), the acquirer, the transferor, and Liang Changlin entered into a share transfer agreement. Accordingly (including but not limited to), the acquirer agreed to acquire, and the transferor agreed to sell all the issued shares of the target company, Dingdong Fresh Holding Limited, held by the transferor. The initial consideration is $717 million (subject to adjustment). However, after the transferor extracts up to $280 million from the target group (the target company and its subsidiaries), it still needs to ensure that the net cash of the target group is not less than $150 million.

In response to Meituan's acquisition announcement, Liang Changlin, the founder of Dingdong Maicai, issued an internal letter. He said that after the merger of the two parties, Dingdong's three core competitiveness: the ultimate product power, the service power exceeding expectations, and the ultimate efficiency created through the supply chain system, will not disappear due to the merger. Instead, they will play a greater role on a larger platform. In addition, Liang Changlin mentioned that the business and team of Dingdong Maicai will remain stable, and employees will still have a very stable development platform.

Jia Yueting Unveils Humanoid Robots

At 7:30 a.m. on February 5th, Beijing time, FF held a press conference for its first batch of Embodied AI robot products at the National Automobile Dealers Association Convention in Las Vegas. Previously, FF went from being listed to being on the verge of bankruptcy. In April last year, Jia Yueting resumed his position as Co - CEO of FF, attempting to reshape the company. Jia Yueting, who is burdened with huge debts, has been in the United States for entrepreneurship since July 2017 and has not returned to China for eight years. (Yicai Global)

Big Companies/Big Events

Jack Ma Appears at the Tongyi Qianwen Spring Festival Project Team of Alibaba

On the evening of February 4th, Alibaba employees revealed on social media that Jack Ma, the founder of Alibaba, appeared at the Tongyi Qianwen Spring Festival project team at Alibaba's headquarters in Hangzhou. The pictures show that Jack Ma came to the Tongyi Qianwen office area accompanied by Shao Xiaofeng, a partner of Alibaba. There was already a New Year stand with Year of the Horse elements beside, which was marked with "Tongyi Qianwen C - end Business Group".

As the Spring Festival approaches, the "AI war" is heating up continuously. Previously, Baidu, Doubao and others have all launched Spring Festival red - envelope plans. On February 2nd, Alibaba's Tongyi Qianwen also announced that it would invest 3 billion to launch the "Spring Festival Treat Plan". On February 3rd, the Tongyi Qianwen APP also announced that it would exclusively sponsor the Spring Festival Galas of four satellite TV stations in the Year of the Horse. The Spring Festival in the Year of the Horse is regarded as an important node for AI applications to seize the C - end entrance on a large scale. With Jack Ma's "inspection", Alibaba's emphasis on this battle is obvious. (Yicai Global)

Chen Bang, Chairman of Aier Eye Hospital, is the Actual Controller of a Suspected "Insurance Fraud" Psychiatric Hospital

It is reported that multiple psychiatric hospitals in Xiangyang and Yichang, Hubei Province, were exposed to soliciting patients by inducing them with "free hospitalization" and "free pick-up and drop-off", suspected of systematically defrauding medical insurance funds. After the release of this investigation, it has attracted wide public attention. Reporters from Jiemian News found through a comparison of public information that after the equity penetration of Xiangyang Hengtaikang Hospital named in the report, the actual controller is Chen Bang, the actual controller of A-share listed company Aier Eye Hospital. On February 5th, Jiemian News called Chen Bang multiple times, but the calls all showed that he was on the phone. After that, Jiemian News sent him a text message to inquire about relevant matters, but as of the time of publication, no reply was received. (Beijing News, Jiemian News)

Xiaomi Cars Reduces the Safety Mileage Threshold for Assisted Driving to 300 Kilometers

36Kr learned that Xiaomi Cars announced that the latest version of OTA has been gradually pushed, and the safety mileage threshold for assisted driving has been lowered. Xiaomi Cars introduced that the safety mileage threshold for assisted driving has been reduced from 1000 km to 300 km. Setting such a threshold is to allow everyone to gradually get familiar with the assisted driving function and develop sufficient safety awareness. Xiaomi Cars reminds that assisted driving is not autonomous driving. Please always pay attention to the road conditions and control the vehicle in a timely manner.

Xiaohongshu Silences "Bloggers of Real - time Fund Valuations"

Xiaohongshu has silenced some "bloggers of real - time fund valuations". Recently, the regulatory release agency emphasized in a circular that fund sales institutions and third - party online platforms should strengthen self - inspection and self - correction, and remove functions such as "real - time fund valuations", "add - position lists", and "real - trading lists" that may mislead investors by the due date. However, according to previous reports, some self - media accounts have still "acted against the trend" recently by developing and spreading real - time fund valuation tools to attract fans. Currently, the account of a Xiaohongshu blogger involved in the report shows that "this account has been silenced for violating relevant community rules", and several of their recent posts sharing real - time fund valuation tools have also been deleted. In addition, some links to sell real - time fund valuation software on the platform have also been removed. (21st Century Business Herald)

Tencent Games Releases 2026 Winter Vacation Game Restriction Calendar: Minors Can Play for a Maximum of 15 Hours

According to 36Kr, on February 5th, Tencent Games released a notice regarding game - playing restrictions for minors during the 2026 winter vacation and around the Spring Festival. From February 5th to March 5th, minor players can only log in to games between 20:00 and 21:00 on permitted days. During the 29 - day winter vacation, the maximum game - playing time for minors is 15 hours. Meanwhile, Tencent Games' Growth Guardian Platform has experimentally introduced AI technology and launched three new features: "AI Game Weekly Report", "AI One - Click Control", and "Parental AI Assistant". These features aim to lower the threshold for parental control and help parents shift from "passive control" to "scientific management". Currently, the relevant features have started a phased roll - out test.

Liu Tao, Co-CEO of IM Motors, Apologizes to Tesla for Previous Remarks

On the evening of February 4th, Liu Tao, the co-CEO of IM Motors, apologized to Tesla on a social platform for his previous remarks. On November 17, 2022, regarding a major traffic accident that occurred in Chaozhou at that time, based on the limited public information available then, I posted a Weibo post suggesting that there were safety hazards in Tesla's products involved in the accident. Four hours later, I deleted the post. In May 2023, according to the accident liability determination made by the traffic police department and relevant judicial appraisal opinions, the Chaozhou accident was not caused by a brake failure of Tesla vehicles.

The investigation conclusion of the Chaozhou accident in the aforementioned determination and opinions has corrected the erroneous remarks in my previous Weibo post. I hereby clarify and correct them. I apologize for the negative impact caused to Tesla by my inappropriate remarks made before the facts were clarified. (Jiemian News)

State Administration for Market Regulation: Crack down hard on chaos in live - streaming e - commerce

On February 5th, the State Council Information Office held a press conference to introduce the situation of market regulation serving high - quality economic development and answer questions from journalists. Zhu Jianqiao, the director of the Department of Online Transaction Supervision and Administration of the State Administration for Market Regulation, said that market regulatory authorities are cracking down hard on chaos in live - streaming e - commerce. Special rectifications have been carried out in response to prominent problems in live - streaming e - commerce such as counterfeiting and shoddy products, and false marketing. The illegal case of Chengdu Kuaimai Technology Co., Ltd. has been investigated and dealt with in accordance with the law. At the same time, local authorities have been guided to investigate and handle typical cases of false publicity by leading live - streamers such as "Taiyuan Laoge" and "Da LOGO" in accordance with the law. Four batches of 30 typical cases in the field of live - streaming e - commerce have been released collectively. (Xinhua News Agency)

Has the i Maotai App crashed again? Company's response: It's been extremely difficult to get a bottle recently

Multiple netizens reported that the i Maotai App had difficulty loading pages and they were unable to participate in the purchase rush. In response, the reporter first called the i Maotai customer service hotline, but was informed that it was a peak call time. After waiting multiple times, the call still couldn't get through. Subsequently, the reporter called the securities department of Kweichow Moutai in the capacity of a consumer. A staff member answering the call said, "It's been extremely difficult to get a bottle recently. Due to the sharp increase in orders, there are also a relatively large number of phone inquiries. Since there are too many people making calls, the lines may be busy for a long time." Regarding the i Maotai App's temporary failure to load, the staff member said they would inquire about the relevant situation with other departments. (21st Century Business Herald)

Starting this year, e-invoices from Didi and other platforms can no longer be used for tax deduction

For the VAT e-invoices issued by companies like Didi for domestic passenger transport services provided to enterprises, enterprises could previously use the tax amount stated on the invoice as input tax for tax deduction, thus paying less VAT. However, this is no longer allowed starting this year. The Ministry of Finance and the State Taxation Administration issued the "Announcement on Issues Concerning the Deduction of Input VAT and Other Matters". When listing the specific situations where general VAT taxpayers purchasing domestic passenger transport services can deduct input tax from output tax (other than obtaining special VAT invoices), the previous provision of "for e-invoices, the tax amount stated on the invoice" has been removed. In other words, general VAT taxpayers will no longer be allowed to use the VAT e-invoices they obtain for tax deduction. (Yicai Global)

Beishengong: The actual controller, Ma Xuejun, has been placed under investigation by the China Securities Regulatory Commission for suspected market manipulation

36Kr learned that Beishengong announced that Ma Xuejun, the actual controller of the company, received a "Notice of Case Filing" from the China Securities Regulatory Commission on February 4. Due to his suspected market manipulation, the China Securities Regulatory Commission decided to launch an investigation into him in accordance with relevant laws and regulations. This investigation is targeted at Ma Xuejun personally and will not have a significant impact on the company's daily operations. He is still performing his duties normally in the company. The company will continue to monitor the progress of this matter and fulfill its information disclosure obligations in a timely manner.

Official testing of the gold content in Chow Sang Sang pendants completed: It is pure gold, and both parties have no objections

Reporters learned from the Market Supervision and Administration Bureau of Qingcheng District, Qingyuan City that in response to the dispute over Chow Sang Sang's (Shunying Times Square store) gold jewelry, the Market Supervision and Administration Bureau of Qingcheng District, Qingyuan City has legally accepted the case and promptly organized mediation and handling. In view of the consumer's objections to the quality of the purchased gold jewelry, after negotiation between the consumer and the merchant, both parties agreed that the Market Supervision and Administration Bureau of Qingcheng District, Qingyuan City would send the involved jewelry to a qualified third - party testing institution for testing. After entrusting the Zhuhai Quality and Metrology Supervision and Testing Institute of Guangdong Province to test the involved jewelry sent for inspection, the test result shows that it is pure gold, meeting the requirements of the standard GB11887 - 2012 "Regulations and Naming Methods for the Purity of Precious Metal Jewelry" and its Amendment No. 1. At present, the Market Supervision and Administration Bureau of Qingcheng District, Qingyuan City has delivered the test report to the consumer and the merchant, and both parties have stated that they have no objections to the test result.

Previously, Ms. Li, a consumer, said that she spent 4,215 yuan to buy a pure - gold lucky - bag pendant (priced at 2,306 yuan) and a pure - gold lamb pendant (priced at 1,909 yuan) at Chow Sang Sang. The pure - gold lucky - bag pendant was scratched and showed white marks after being worn for one day. When she sent it to an institution for self - testing, she found that the pendant contained various other metal elements such as iron, silver, and palladium. (China National Radio Network)

China Space-Time Joins Hands with Operators to Launch Beidou Messaging Service

Recently, China Space-Time has joined hands with the three major telecommunications operators to launch the Beidou messaging service. Based on China Space-Time's service capabilities, China Mobile, China Telecom, and China Unicom all support the Beidou messaging service. Beidou messaging is a mass satellite communication service based on the short message function of the Beidou Navigation Satellite System. In November 2024, China Space-Time officially launched the Beidou messaging service. In an environment without terrestrial network signals, users can directly send and receive messages via Beidou satellites through mobile phones that support this function. China Space-Time Information Group was established in 2024 and is the national operator and service provider of the Beidou system. (Jiemian News)

Canada Announces New Electric Vehicle Strategy, to Collaborate with China

Canadian Prime Minister Mark Carney announced a new electric vehicle strategy on February 5, which includes restarting the car - purchase subsidy, and stated that Canada will cooperate with China to promote the local production and export of electric vehicles in Canada. According to a statement released by the Office of the Canadian Prime Minister, Canada will fully utilize existing and new trade agreements, including the recently reached electric vehicle cooperation agreement with China, to promote large - scale investment in this field, diversify Canada's automobile export market, and make Canada one of the global leaders in the electric vehicle field. (CCTV News)

All three major U.S. stock indexes closed lower, and Dingdong Maicai tumbled more than 14%

36Kr learned that at the close on February 5, all three major U.S. stock indexes declined. The Dow fell 1.2%, the Nasdaq dropped 1.59%, and the S&P 500 Index declined 1.23%. Most large technology stocks fell. Microsoft and Amazon tumbled more than 4%, Tesla dropped more than 2%, NVIDIA declined more than 1%, and Google and Apple edged down. Netflix and Meta edged up. Most popular Chinese concept stocks rose. NIO soared more than 5%, Miniso and Vipshop climbed more than 3%, Li Auto rose more than 2%, and Baidu and Xpeng Motors edged up. Dingdong Maicai tumbled more than 14%, and Futu Holdings and Weibo dropped more than 2%.

Musk Denies SpaceX Is Developing Starlink Phone

In response to media reports that a Starlink phone might be in the works, Musk posted on the X platform, saying, "We're not developing a phone." Earlier reports indicated that SpaceX planned to manufacture a mobile device that connects to Starlink, potentially competing with smartphones. (Sina Finance)

Emperor Entertainment Hotel Sells 79 Kilograms of Gold Bars: Expected to Recognize a Gain of Approximately HK$90.2 Million

On the evening of February 4, Emperor Entertainment Hotel announced on the Hong Kong Stock Exchange that Right Achieve Limited, a non-wholly owned subsidiary of the company, had sold multiple gold bars with a total weight of 79 kilograms. It is expected to recognize a gain of approximately HK$90.2 million. It is reported that the buyer is Heraeus Metals Hong Kong Limited, a wholly owned subsidiary of Heraeus Limited.

Emperor Entertainment Hotel stated that over the past two decades, in order to create a luxurious and magnificent atmosphere in the casino of Emperor Entertainment Hotel in Macau and enhance the brand image, the Group laid multiple gold bars on the hotel lobby floor to attract visitors. After terminating the gaming business operations, the Group has been actively planning other entertainment and leisure facilities. In view of the planned renovation and re-layout of the relevant area, the gold bars, as part of the hotel's original interior design and furnishings, are no longer relevant to the hotel's future theme. Given the current market conditions and the fact that the market price of this precious metal is currently at a high level, the directors believe that the sale is a good opportunity for the Group to realize and unlock the value of this precious metal while saving the relevant security and insurance costs. Emperor Entertainment Hotel said that the net proceeds will strengthen the Group's financial position, enabling the Group to make investments when appropriate investment opportunities arise. (Jiemian News)

SpaceX's Application to Launch 1 Million Satellites Accepted

It is reported that the U.S. Federal Communications Commission (FCC) has said that it has accepted SpaceX's application for a data center. Previously, Cankao Xiaoxi cited foreign media reports that SpaceX, the space exploration technology company owned by Elon Musk, has applied to launch up to 1 million satellites to establish an orbital data center network around the Earth. On January 30, SpaceX submitted an application to the FCC, describing the project as "a satellite constellation with unprecedented computing power that can support advanced artificial intelligence (AI) models and their related applications." The report said that the scale of this plan is astonishing, far exceeding Musk's existing Starlink constellation, which currently has more than 9,600 satellites in Earth's orbit. Musk reposted the report about SpaceX's application to launch up to 1 million satellites on social platform X. (Jiemian News)

US Vice President Vance Responds to Epstein Case Documents

According to a report by the UK's Daily Mail on February 4th, US Vice President Vance said in an exclusive interview with the media that the Epstein case documents recently disclosed by the US Department of Justice reflect "a considerable degree of moral corruption among the US elite." According to the report, Vance insisted that although US President Trump once knew Epstein, "Trump was completely outside the social circle." "He knows many of these people. His wealth and power are indeed similar to theirs. But he never really became good friends with Epstein like the others." Vance explained. Vance also said, "I think this precisely exposes the moral corruption among the US elite, which is very disgusting. And I think it's very bad for many people. Bill Gates, Bill Clinton, and many others." (Global Times)

Sony: Has Ensured Sufficient Memory for PS5 for This Year's Holiday Sales Season

36Kr learned that Sony said it is in talks with suppliers to increase memory supply. Sony added that it has ensured sufficient memory for the PS5 for this year's holiday sales season. (Cailian Press)

Maersk to Cut Nearly 1,000 Jobs and Reduce Corporate Management Costs by $180 Million Annually

Maersk announced on February 5 that to continuously improve productivity and control costs, it will simplify its organizational structure and reduce corporate management costs. The company will reduce corporate management costs by $180 million annually at the global headquarters, regional, and national company levels. Approximately 15% of the around 6,000 corporate function positions will be cut, equivalent to nearly 1,000 positions. The relevant notification and consultation processes have been initiated. (Jiemian News)

Going Public in Progress

BrainCo

36Kr learned that according to the website of the China Securities Regulatory Commission, BrainCo Technology (Shanghai) Co., Ltd. (hereinafter referred to as "BrainCo") completed the record-filing for counseling with the Shanghai Securities Regulatory Bureau on February 4, 2026. It plans to conduct an initial public offering of stocks and go public, and the counseling securities firm is CITIC Securities.

The Cutting-Edge of AI

Alphabet CEO: Collaborate with Apple to Develop the Next-Generation Apple Foundation Model Based on Gemini Technology

Alphabet CEO Sundar Pichai said during the company's Q4 2025 earnings conference call that they will partner with Apple, become its preferred cloud service provider, and jointly develop the next-generation Apple foundation model based on Gemini technology. (Cailian Press)

OpenAI is hiring hundreds of "frontier deployment engineers" to win large enterprise business

According to The Information: OpenAI is hiring hundreds of "frontier deployment engineers" to win large enterprise business. (Sina Finance)

Lihua Education's First AI Learning Machine Recognized as a National Patent-Intensive Product

36Kr learned that recently, the innovative intelligent hardware product "Lihua Education Acoustic Learning Machine" of Shifang Ronghai Lihua Education has officially passed the record-filing certification for national patent-intensive products. It is understood that the record-filing of the Lihua Education Acoustic Learning Machine this time involves 7 core patent technologies, covering multiple technical fields such as AI voice training, intelligent dialogue systems, and big data processing.

Anthropic Releases Claude Opus 4.6

On February 5th local time, Anthropic announced the launch of an upgraded intelligent model, Claude Opus 4.6. This model can plan more cautiously, execute agent tasks for a longer period, run reliably in large-scale code libraries, and correct its own errors. Anthropic said that this version, named Claude Opus 4.6, can examine corporate data, regulatory filing documents, and market information, and generate detailed financial analysis reports. Usually, this kind of work would take humans several days to complete. After the news was released, the stock prices of financial service companies fell accordingly, with FactSet's decline reaching as high as 10% at one point. (Jiemian News)

Amazon Says It Will Spend $200 Billion on AI Development This Year

Amazon said on February 5 local time that it plans to spend $200 billion on data centers, chips, and other equipment this year. "Given the strong market demand for our existing products and services, as well as the groundbreaking opportunities in artificial intelligence, chips, robotics, and near - Earth orbit satellites, we expect Amazon to make capital expenditures of approximately $200 billion in 2026 and anticipate very attractive long - term returns on investment," CEO Andy Jassy said in a statement.

Financial Reports of Big Companies

Sony Raises Full - Year Operating Profit Forecast

On February 5th, Sony Group released its financial report, showing that the operating profit in the third quarter of fiscal year 2025 was 515 billion yen, a year - on - year increase of 22%; the net profit was 377.3 billion yen, a year - on - year increase of 11%. The company expects the full - year operating profit to reach 1.54 trillion yen, compared with the previous forecast of 1.43 trillion yen. (Jiemian News)

Hon Hai's Revenue in January 2026 Increased by 35.5% Year-on-Year

On February 5th, Hon Hai announced that its revenue in January 2026 was NT$730.04 billion, a month-on-month decrease of 15.4% and a year-on-year increase of 35.5%, reaching the highest level for the same period in history. (Jiemian News)

Nikon Forecasts a Loss of 85 Billion Yen in Fiscal Year 2025

Nikon disclosed on February 5 that it expects a consolidated net loss of 85 billion yen (compared with a profit of 6.1 billion yen in the previous fiscal year) for the fiscal year ending in March 2026 (based on International Financial Reporting Standards). Previously, the company had expected to achieve a profit of 20 billion yen. The main reason for this downward revision is the impairment loss recognized in the metal 3D printer business. The projected operating revenue, which represents sales, is 675 billion yen, and the projected operating loss is 100 billion yen, down 5 billion yen and 114 billion yen respectively from the previous forecasts. The annual dividend per share will be 40 yen, a reduction of 10 yen from the previous forecast. (Jiemian News)

Volvo: Revenue Reached SEK 94.4 Billion in Q4 2025

Volvo Cars released its financial report. In the fourth quarter of 2025, its revenue was SEK 94.4 billion, compared with SEK 112.1 billion in the same period of the previous year; the operating profit was SEK 1.9 billion, compared with SEK 3.9 billion in the same period of the previous year; and the earnings per share were SEK 0.43, compared with SEK 0.84 in the same period of the previous year. (Yicai Global)

NIO: Expected to Achieve an Operating Profit of RMB 700 million - 1.2 billion in Q4 2025

36Kr learned that NIO released a profit forecast, expecting the company to record an adjusted operating profit (non-GAAP) (defined as the operating profit after excluding share-based compensation expenses) in the fourth quarter of 2025, ranging from approximately RMB 700 million (about $100 million) to RMB 1.2 billion (about $172 million). This will be the company's first single-quarter adjusted operating profit (non-GAAP). As of press time, NIO's U.S. stocks rose more than 10% in pre-market trading.

Investment and Financing

“Lanjiang Technology” Secures Tens of Millions of Yuan in Series A+ Round Financing

36Kr learned that recently, “Lanjiang Technology” announced the completion of tens of millions of yuan in Series A+ round financing. This round of financing was jointly led by a well - known domestic market - oriented investment institution and state - owned capital, and existing shareholders continued to increase their investments. Currently, the financing has entered the settlement stage. The funds from this financing will be mainly used for overseas market expansion and the R & D of new - generation products to further consolidate the company's technological advantages and market position in the field of agricultural robots. This is the company's fourth round of financing in four years.

ElevenLabs, an AI voice startup invested in by NVIDIA, has completed a new round of financing

AI startup ElevenLabs announced the completion of a $500 million financing round, reaching a valuation of $11 billion. The valuation in this round of financing is more than three times that of the company's financing in January 2025. This round of financing was led by Sequoia Capital, with existing investors Andreessen Horowitz and Iconiq Capital participating, and new investors including Lightspeed Venture Partners, Evantic Capital, and Bond. (Sina Finance)

Compiled | Exploding Tofu