8:00, Kr 36 | Bill Gates apologized for his relationship with Jeffrey Epstein; Meizu phones may officially exit the market in March; Tencent Yuanbao responded to the swear words appearing in the generated New Year greeting posters.
Today's Hotspot Guide
Over 20 car brands have launched seven - year low - interest loans.
WeChat has launched the "Receive Photos and Files Face - to - Face" function.
Apple's annual general meeting exposed Tim Cook's annual salary.
People familiar with the matter denied that the price of Feitian Moutai will be raised.
The post - holiday air ticket prices have dropped significantly.
Top 3 Big News
Bill Gates Apologizes to Gates Foundation Employees for His Ties with Epstein
On the 24th local time, Bill Gates, the founder of tech giant Microsoft, apologized to employees of the Gates Foundation for his relationship with the late U.S. sex offender Jeffrey Epstein. He admitted that his mistakes had cast a shadow over the charity organization, but at the same time, he insisted that he was not involved in Epstein's criminal acts.
“Let me be clear, I've never had any contact with the victims, the women around him,” Gates said. Gates said that it was “a huge mistake” to associate with Epstein and to have the Gates Foundation's executives meet with the sex offender. “I apologize to those who were caught up in this because of my mistake,” he said.
Gates also said that his meetings with Epstein continued until 2014. During that period, he took Epstein's private jet and met and spent time with him in Germany, France, New York, and Washington, but he never stayed overnight and never visited Epstein's private island. (Global Times, Cailian Press)
Meizu Phones May Become History: Business Substantially Halted, to Exit the Market in March
On February 25th, it was learned from multiple informed sources that Meizu's mobile phone business has been substantially halted and will officially exit the market in March 2026. In addition, Meizu's FlymeAuto in - vehicle system business will operate independently, and the Meizu brand may continue to be retained within the Geely system. It is reported that there are currently more than 1,000 people left in the Feishu group of Xingji Meizu, but many employees have submitted their resignations, and a small number of employees have been transferred to Zeekr, a brand within the Geely system. (Jiemian News)
Tencent Yuanbao Responds to the Appearance of Abusive Language in the Generated New Year Greeting Posters
Recently, a citizen in Xi'an encountered AI abusing him for no reason when using the app to generate New Year greeting pictures on New Year's Eve. The original blessing slogans were replaced with vulgar and abusive words. According to the person involved, he issued about five generation instructions to Yuanbao AI successively at that time and did not use any prohibited words or inducing expressions throughout the process. After several rounds of re - communication, the person involved was still not satisfied with the design and replied to Yuanbao, "What the hell is this design?" Subsequently, compared with the previous poster, there were no changes in the elements of the newly generated poster, but the words "Happy New Year and Smooth Career" on the picture were changed to swear words.
In response to this incident, the official of Yuanbao responded under the relevant post, saying that they are very sorry for the bad experience brought to users. After verification, this situation was caused by abnormal output when the model processed multi - round conversations. Currently, the relevant issues have been urgently corrected, the user experience has been optimized, and a solemn apology has been made to users. (Sina Tech, Jimu News)
Large Companies/High - profile Events
Air ticket prices drop significantly after the holiday
On February 24, data from a travel platform showed that the average price of domestic airline tickets started to decline after reaching a peak on February 23 and hit a low on March 13, with a drop of over 50%. From now until the end of March, air ticket prices for off - peak travel will continue to remain low.
Among them, air ticket prices to Hainan have dropped significantly. The average price of air tickets on the popular Beijing - Sanya route is 585 yuan, a 66% decrease compared to the Spring Festival; the average price of Beijing - Haikou tickets is 527 yuan, a 58% decrease; the average price of Shanghai - Sanya tickets is 479 yuan, a 63% decrease; and the average price of Shanghai - Haikou tickets is 410 yuan, a 61% decrease. In addition, the average price of air tickets on popular routes such as Guangzhou - Sanya, Chengdu - Haikou, and Shenzhen - Haikou has fallen below 500 yuan. (Cover News)
Liu Qiangdong Says He Has Received Orders for Five Large Yachts, with an Average Price of 60 Million Euros per Yacht
Liu Qiangdong, the founder of JD Group, has entered the yacht industry, which has attracted continuous attention. According to media reports, Liu Qiangdong revealed that he has received orders for five large yachts, which are 72 - meter catamarans, and each yacht is sold at an average price of 60 million euros. He said that the manufacturing industry is different from the Internet industry. It may take 10 or 20 years to gain the recognition of consumers around the world through quality, technology, and environmental protection.
On February 24, Sea Expandary, an independent yacht brand founded by Liu Qiangdong, signed strategic cooperation agreements with the governments of Shenzhen, Zhuhai and other places. Sea Expandary is expected to invest in building a yacht manufacturing base in Zhuhai and establish the China headquarters of its yacht business in Shenzhen. It will also participate in the construction and operation of multiple docks and supporting facilities in Shenzhen. In addition, Sea Expandary will also layout a series of supporting institutions in the Greater Bay Area, such as a research and innovation center, a yacht operation service center, and a bonded maintenance center. (Southern Metropolis Daily)
Apple Responds to Reports of iPhones Making Automatic Calls in the Middle of the Night
Recently, many netizens have reported that their iPhones have made automatic calls late at night. One netizen said that at 2 a.m., the phone suddenly emitted the background noise of a call and voice prompts. After being woken up, they found that the phone was automatically dialing the number of a courier they had contacted during the day. Another netizen said that the phone made an automatic call to a 400 number for as long as 47 minutes without being touched. Some users consulted Apple experts about this abnormal situation. The experts said that this problem has nothing to do with account security and suggested updating the system to iOS 26.3. At the same time, they advised users to go to the "Settings - Face ID & Passcode" interface and turn off options such as voice dialing, Today View and Search, and call back missed calls. (Jiemian News)
Apple's Annual Shareholders' Meeting Reveals Tim Cook's Annual Salary
According to a report by Cailian Press on February 25th, Apple's shareholders approved all the company's proposals at the annual shareholders' meeting, including the vote on executive compensation. The total compensation of Tim Cook, the company's CEO, in 2025 is $74.2948 million, which is basically the same as that in 2024. In addition, the shareholders' meeting did not announce that Cook would succeed as the chairman as speculated by the outside world. (Cailian Press)
Jaguar Land Rover China Changes CEO
Jaguar Land Rover China recently announced a personnel adjustment. Pan Qing, the former President and CEO of Jaguar Land Rover China, has been promoted to the Director of Global Procurement at Jaguar Land Rover and will continue to serve as the President of Jaguar Land Rover China. Tim Howard, the current Chief Financial Officer of Jaguar Land Rover China, will take over as the CEO of Jaguar Land Rover China. Pan Qing has served as the CEO of Jaguar Land Rover China since January 1, 2017, for more than nine years. (Yicai Global)
WeChat Launches "Receive Photos and Files Face-to-Face" Feature, Direct Transfer without Adding Friends and No Data Consumption
On February 24th, a WeChat employee with the Weibo name "Kecun Xiaojiang" posted a message saying that WeChat has recently updated the "Receive Photos and Files Face-to-Face" feature, which can be experienced in the "My QR Code" entry of the "Scan" function. There is no need for data, and there is no need to add friends. You can receive original photos, videos, and files as long as your device is close to the other party's. This function update of WeChat focuses on users' high-frequency and essential needs, and optimizes the transfer experience with a lightweight design. The face-to-face transfer function further improves the instant messaging and file collaboration capabilities, reduces the users' usage costs, and enhances the convenience of daily communication and office collaboration. (Jiemian News)
Spring Festival movie box office hits an 8-year low, Bona Film Group and Hengdian Film Industry hit the daily limit down for two consecutive days
The 2026 Spring Festival movie season has ended. While the number of screening sessions reached a record high, the box office dropped to the lowest in 8 years. This situation was reflected in the capital market, and many film stocks hit the daily limit down on February 24. In the early trading on February 25, the film and theater sector continued to adjust. Bona Film Group and Hengdian Film Industry hit the daily limit down for two consecutive days. China Film Co., Ltd., Decai Co., Ltd., and Enlight Media all opened lower. According to data from the National Film Administration on February 24, as of 9:00 on that day, the box office of the 2026 Spring Festival movie season (from February 15 to 23) was 5.752 billion yuan, and the number of moviegoers was 120 million. The box office of the films released during the Spring Festival season is as follows: "Full Throttle 3" with 2.927 billion yuan, "Silent Awakening of Insects" with 868 million yuan, "Blade of the Immortal: Wind Rises in the Desert" with 806 million yuan, "Boonie Bears: Every Year with Bears" with 714 million yuan, "Panda Project: Tribal Adventure" with 193 million yuan, "Dreaming in the Galaxy" with 80.5796 million yuan, and "The Night King" with 72.454 million yuan. (Jiemian News)
Over 20 car brands offer seven - year low - interest loans
On February 25th, BYD announced a "seven - year low - interest" policy for its Ocean Network, with a daily payment as low as 29 yuan. One day earlier, IM Motors launched a financial plan of "zero down payment for seven years and zero interest for three years", along with a New Year cash bonus of up to 23,000 yuan. Even earlier, brands such as Chery Fengyun and Jetour introduced seven - year low - interest long - term loans, with the latter having a minimum monthly payment of 1,321 yuan.
According to the incomplete statistics of reporters, nearly ten car brands have launched the "seven - year low - interest loan" financial policy in February. In addition to the aforementioned brands, it also includes Changan Deepal, Great Wall Haval, Dongfeng Yipai, GAC Aion, NIO, and LeDao. If the statistical period is extended to January and February, this number has increased to more than twenty. (Caixin Press)
People familiar with the matter deny that the price of Feitian Moutai will be raised
According to a report by Lanjing News, recently, there have been rumors online that Kweichow Moutai will raise the ex - factory price of Feitian Moutai. The news said that the ex - factory price of 53 - degree Feitian Moutai will be increased from the current 1,169 yuan per bottle to 1,299 yuan per bottle, with an increase of 130 yuan, about 11.1%, and it is planned to be implemented from February 24, 2026. Meanwhile, the official suggested retail price of 1,499 yuan remains unchanged.
In response to the above news, reporters learned from people familiar with the matter that the rumor is false information, and the ex - factory price of Feitian Moutai has not been adjusted at present. According to public information, the last ex - factory price adjustment of Moutai was on November 1, 2023, when the ex - factory price of 53% vol Feitian Moutai was raised from 969 yuan per bottle to 1,169 yuan per bottle, with an increase of about 20%, but the market guidance price remained unchanged at 1,499 yuan per bottle. (Lanjing News)
Xiaomi Applies to Register Trademarks for Smart Storage, and All Trademarks Are Currently Awaiting Substantive Examination
According to Sina Technology, Aiqicha shows that recently, Xiaomi Technology Co., Ltd. has applied to register multiple trademarks for "Xiaomi Smart Storage". The international classifications include scientific instruments, communication services, website services, etc. All the trademarks are currently awaiting substantive examination.
Xiaomi Technology Co., Ltd. was established in March 2010. Its legal representative is Lei Jun, and its registered capital is 1.85 billion yuan. Its business scope includes technology import and export, sales of communication equipment, sales of daily sundries, sales of general merchandise, retail of household appliances, sales of furniture, etc. It is jointly held by Lei Jun, Li Wanqiang, etc. (Sina Technology)
Shanghai's housing provident fund can provide a maximum loan of 3.24 million yuan. Experts say the real - estate market may welcome a mini - boom
On February 25th, Shanghai issued the "Seven Measures for the Real - Estate Market in Shanghai". Yan Yuejin, the deputy dean of the Shanghai E - House Real Estate Research Institute, said that the real - estate policies issued by Shanghai cover seven aspects, including the adjustment of the purchase restriction policy, the optimization of the housing provident fund policy, and the improvement of the property tax policy. The "Notice" clearly states that the maximum loan amount of the housing provident fund will be moderately increased. The maximum loan amount of the housing provident fund for a depositor's family to purchase a first - home will be raised from 1.6 million yuan to 2.4 million yuan. Yan Yuejin said that if the policies of increasing the maximum loan amount for multi - child families and those buying green buildings are combined, the maximum loan amount of an individual's housing provident fund in Shanghai after the new policy can reach 3.24 million yuan, leading the country. Yan Yuejin summarized that with these policies, the "mini - boom" market situation is worth looking forward to. (China News Service)
The number of passengers transported during the Spring Festival travel rush on the national railways has exceeded 300 million
36Kr learned that according to China Railway, on February 24 (the eighth day of the first lunar month), the national railways transported 18.101 million passengers, remaining above 15 million for five consecutive days. Since the Spring Festival travel rush started on February 2, a total of 313 million passengers have been transported, and the transportation has been safe, stable and orderly. On February 25 (the ninth day of the first lunar month), the national railways are expected to transport 16.65 million passengers, and 1,549 additional passenger trains are planned to be operated.
Exceeding 9 billion, the box office of Chinese movies in 2026 ranks first globally for now
According to data from online platforms, the total annual box office of movies (including pre - sales) in 2026 has exceeded 9 billion, temporarily ranking first among single - market box offices globally. (CCTV News)
All three major U.S. stock indexes closed higher, and large technology stocks generally rose
36Kr learned that at the close on February 25, all three major U.S. stock indexes rose. The Dow Jones Industrial Average rose 0.63%, the Nasdaq Composite rose 1.26%, and the S&P 500 Index rose 0.81%. Large technology stocks generally rose. Netflix rose nearly 6%, Microsoft and Meta rose more than 2%, NVIDIA and Tesla rose more than 1%, and Apple and Google rose slightly. Most popular Chinese concept stocks fell. XPeng Motors and NIO fell more than 2%, Li Auto, NetEase, iQiyi, and Tencent Music fell more than 1%; Futu Holdings rose more than 5%, 36Kr rose more than 4%, and Tiger Brokers rose more than 3%.
BMW is negotiating with the EU to seek tariff exemptions for Chinese-made MINI models
According to a report by German business daily Handelsblatt on Tuesday, BMW is in talks with the European Commission over a minimum price mechanism that could replace the tariffs the EU imposes on the German automaker's Chinese-made electric MINI models. Earlier, the EU reached an agreement with Volkswagen Group in early February. After months of negotiations, the all-electric SUV coupe Tavascan of Volkswagen's Seat/CUPRA brand has been granted a tariff exemption. (Sina Finance)
Japan's Fair Trade Commission Launches Anti - monopoly Review of Microsoft
On February 25, the Japan Fair Trade Commission launched a review of Microsoft on suspicion of violating the Anti - monopoly Law. The reason is that Microsoft is suspected of charging high usage fees to companies using its software such as "Microsoft 365" in other companies' cloud services, which hinders competition in the cloud market. On the same day, the Japan Fair Trade Commission conducted an on - site inspection of Microsoft's Japanese subsidiary in Tokyo. The Japan Fair Trade Commission believes that Microsoft may use its dominance in the software market to try to attract customers in the cloud market, so an investigation will be carried out. (Jiemian News)
Tesla Accuses French Beverage Company of Maliciously Registering the "Cybercab" Trademark
According to the electric vehicle news website Electrek, Elon Musk's Tesla has submitted a new complaint to the United States Patent and Trademark Office (USPTO), objecting to the use of the "Cybercab" trademark by French beverage manufacturer Unibev. In the documents submitted to the USPTO, Tesla raised five objections to Unibev's trademark, accusing the company of improper conduct such as fraud. (Sina Finance)
Uber and Joby Aviation to Launch Electric Air Taxi Service
On February 25th, it was reported that Uber users will be able to directly book Joby Aviation's all - electric air taxis through the Uber app. The first passengers are expected to take these air taxis in Dubai later this year. Joby's all - electric air taxi is designed to carry up to four passengers. This model uses six tilt - rotors for vertical takeoff and landing and then transitions to forward flight, with a maximum speed of up to 200 miles (approximately 320 kilometers) per hour. (Jiemian News)
Huace Film & TV Responds to "Dissolving the Film Department": The News Is False
There were reports that Huace Film & TV officially announced internally the dissolution of its film department, clearly stating that "the funds no longer hold hope and illusions for the film track." This decision stems from the consecutive losses of the company's leading film projects and the overall contraction pressure in the industry. A staff member answering the phone at the company responded, "There were indeed loss - making film projects last year, but there is no such thing as dissolving the film department at present. There is no news about optimizing and adjusting the department's personnel for now, and the company's operations are all normal." (21st Century Business Herald)
Investment and Financing
Jiushi Intelligence Secures Another $300 Million in Financing, Valued at Over 10 Billion
36Kr learned that Jiushi Intelligence recently completed a new round of financing exceeding $300 million, with its valuation surpassing 10 billion RMB. This also means that, based on publicly available information, the first unicorn in the RoboVan (Level 4 autonomous driving logistics vehicle) field with a valuation of over 10 billion has emerged. As of now, Jiushi Intelligence has received six rounds of financing.
“Xinchuan Electronics” Completes Nearly 100 Million Yuan Pre - IPO Round of Financing
36Kr learned that “Xinchuan Electronics” recently announced the completion of a pre - IPO round of financing of nearly 100 million yuan. The investment was jointly participated by institutions such as Hangzhou Urban Construction Investment, Legend Capital, Fujie Technology, and Zhejiang Transportation Investment Industry Transformation Fund. The funds will be mainly used for the R & D of products such as MLCC 60nm - 80nm finished nickel powder, special copper powder for photovoltaics, and base metal catalysts, as well as the expansion of production lines and market development.
"Yisheng New Materials" Completes Tens of Millions in Series A Financing
36Kr learned that "Yisheng New Materials", an enterprise specializing in metal-based thermal management materials, recently completed tens of millions in Series A financing. The investors are Huawei Hubble and Qihang Investment of Zhongguancun Development Group. This round of financing will mainly be used for the procurement of production line equipment, the expansion of production capacity, and the R & D of a new generation of thermal control materials.
The Cutting - Edge of AI
Anthropic Launches Agent AI Tools Aimed at Automating Work in Fields Such as Human Resources and Investment Banking
It is reported that after its AI tools caused a market slump and sparked thoughts about the disruptive impact of AI, AI startup Anthropic PBC is extending its Claude chatbot into new areas. The company on Tuesday launched new AI tools for its Claude Cowork agent software, aiming to automate work in fields such as human resources, investment banking, and design. Anthropic said these tools were developed in collaboration with partner companies, such as a plug - in created in partnership with financial data provider FactSet Research Systems Inc. (Jiemian News)
Financial Reports of Big Companies
NVIDIA: Revenue in the fourth fiscal quarter reached $68.127 billion, a year-on-year increase of 73%
36Kr learned that NVIDIA released its financial report for the fourth quarter of fiscal year 2026. The report shows that NVIDIA's revenue in the fourth quarter was $68.127 billion, a year-on-year increase of 73%; net profit was $42.96 billion, a year-on-year increase of 94%. Throughout fiscal year 2026, NVIDIA's revenue reached a record $215.938 billion, a year-on-year increase of 65%; net profit was $120.067 billion, a year-on-year increase of 65%.
Ctrip Group: Net operating revenue in the fourth quarter was 15.4 billion yuan, a year-on-year increase of 21%
36Kr learned that Ctrip Group released its financial report for the fourth quarter of 2025. The report shows that Ctrip Group's net operating revenue in the fourth quarter was 15.4 billion yuan, a year-on-year increase of 21%; the net profit was 4.3 billion yuan, a year-on-year increase of 95%.
HSBC Holdings: Revenue of $68.3 billion in 2025, a 4% year-on-year increase
HSBC Holdings announced that its full-year revenue in 2025 was $68.3 billion, a 4% year-on-year increase. The increase in revenue was mainly due to the growth in fees and other income from the wealth management business (from investment distribution and insurance) and the wholesale transaction banking business. The net interest income was $34.8 billion, an increase of $2.1 billion compared to 2024. (Jiemian News)
Transsion Holdings: Revenue of 65.623 billion yuan in 2025, net profit down 53.43% year-on-year
36Kr learned that Transsion Holdings announced that in 2025, the company achieved a total operating revenue of 65.623 billion yuan, a year-on-year decrease of 4.50%; an operating profit of 3.204 billion yuan, a year-on-year decrease of 51.25%; a net profit attributable to the parent company of 2.584 billion yuan, a year-on-year decrease of 53.43%; and a non-recurring net profit of 1.968 billion yuan, a year-on-year decrease of 56.66%. At the end of 2025, the company's total assets were 44.363 billion yuan, a decrease of 1.55% from the beginning of the period; the owner's equity attributable to the parent company was 20.449 billion yuan, an increase of 1.08% from the beginning of the period. The decline in performance was mainly due to market competition, rising supply chain costs, and increased R & D and sales expenses. The data is unaudited and subject to the annual report.
The Cutting - Edge of AI
ByteDance's PICO May Release a New VR Headset
Recently, the official Weibo account of PICO-XR posted a video, announcing that a new product is coming soon, which features "efficiency, intuitiveness, and openness". Ma Jiesi, the product leader of PICO OS, left a Weibo topic and said "The new is coming", which may imply that the new product is a new VR headset device. (Sina Tech)
Compiled | Zixin Xu