At 8 o'clock, here are the latest news: The UAE announces to cover all expenses of stranded passengers; Zong Fuli cancels Wahaha's robot business; Wuliangye responds to the investigation of its chairman.
Today's Hotspot Guide
International oil prices soared by more than 10% at the opening.
SDIC Silver LOF: Trading will be suspended from the opening on March 2nd until 10:30 on the same day.
Over 100 branches of Guess in China have been deregistered.
Netflix confirmed that it has received a termination fee of $2.8 billion from Paramount.
Foreign media: OpenAI has received $110 billion in financing, with NVIDIA investing $30 billion.
Top 3 Big News
Iran, Israel and other countries have successively announced the closure of their airspace, and the UAE has announced that it will bear all the expenses of stranded passengers
Affected by the military strikes launched by the United States and Israel against Iran on February 28, many countries including Iran and Israel have successively announced the closure of their airspace. A large number of international flights have urgently returned or been cancelled. From the evening of February 28 to the early morning of March 1, the terminal of Dubai International Airport in the UAE was affected by the war, all flights at the airport were cancelled, and a large number of passengers were forced to stay. Due to its special geographical location, Dubai International Airport is one of the busiest international airports in the world. The shutdown of Dubai International Airport will affect the global aviation network.
According to a report by the UAE News Agency on March 1 local time, the UAE General Civil Aviation Authority said that in the past few hours, the country's airports and airlines have handled about 20,200 passengers affected by the partial flight changes. At the same time, it announced that the country's government will bear the accommodation and reception expenses of all affected and stranded passengers to ensure the continued provision of necessary services during the operational adjustment period. (Beijing News Radio, Sina News)
Zong Fuli Ends Wahaha's Robot Business, Precision Machinery Company Dissolves and Liquidates
On February 24, 2026, Hangzhou Wahaha Precision Machinery Co., Ltd. issued a dissolution notice and officially entered the liquidation process. The labor contracts of the employees will be terminated on February 28. The company is wholly - owned by Wahaha Commercial Co., Ltd., and the actual controller is Zong Fuli. It used to undertake the group's intelligentization, robot R & D and intelligent equipment manufacturing business. It is understood that Wahaha Precision Machinery was established in 2011, and the number of employees paying social insurance was 281 and 261 in 2023 and 2024 respectively. The reason for the cancellation this time is dissolution by resolution, and the person - in - charge of the liquidation group is Yan Xuefeng, a core executive of the Hongsheng Group under Zong Fuli. A person close to Wahaha said that this move is different from the diversification thinking during Zong Qinghou's era. Zong Fuli intends to divest non - core businesses and focus resources on the main business of food and beverages. (Daily Economic News)
Wuliangye Responds to Chairman's Investigation: Production and Operation Are Normal
36Kr learned that on February 28, Wuliangye announced that the company recently received the "Case Filing Notice" regarding Zeng Congqin, the company's chairman, from the Discipline Inspection Commission of Yibin City, Communist Party of China, and the Yibin Municipal Supervision Commission, as well as the "Detention Notice" from the Yibin Municipal Supervision Commission. As of the date of this announcement, other directors and senior management of the company are performing their duties normally, and the production and operation are normal. The company has made proper arrangements for relevant matters, and the daily operation and management are in the charge of the senior management team. The above - mentioned matters will not have a significant impact on the company's production and operation.
Large Companies/ Major Events
US media reveals that AI was used in the air strike on Iran, performing tasks such as intelligence assessment, target recognition, and battlefield simulation
According to a report from The Wall Street Journal on March 1st, the United States used artificial intelligence tools in this air strike on Iran. This is one of the clearest cases of AI deployment in actual combat to date. People familiar with the matter confirmed that global US military command agencies, including the US Central Command, are using Claude developed by Anthropic to perform tasks such as intelligence assessment, target recognition, and battlefield simulation.
Ironically, just as Trump announced a ban on Anthropic, he ordered federal agencies to stop using the artificial intelligence systems developed by Anthropic on the 27th before the attack, setting a six - month transition period for relevant agencies to gradually withdraw. However, reality did not immediately follow the political directive. Just a few hours after this AI was officially “fired”, it still appeared in the US military's combat system. (China News Service)
International oil prices soared by more than 10% at the opening
On Monday, affected by the incident of the US and Israel attacking Iran, Brent crude oil soared 13% at the opening to $82 per barrel. WTI crude oil rose 11% at the beginning of the session, breaking through $74 per barrel.
As the risk - aversion sentiment heated up, gold and silver also opened higher across the board on Monday. Spot gold rose to $5,374 per ounce, a gain of 1.8%; spot silver was reported at $96 per ounce, a gain of 2.6%. After the sharp rise of gold and crude oil, the gains narrowed. Spot gold has now slightly fallen back to around $5,350, and the current gain of WTI crude oil has narrowed to 7%. (Daily Economic News)
SDIC UBS Silver Futures Securities Investment Fund (LOF): Trading Halted from the Opening on March 2nd until 10:30 on the Same Day
36Kr learned that SDIC UBS Fund announced that the secondary - market trading price of Class A fund shares of its SDIC UBS Silver Futures Securities Investment Fund (LOF) is significantly higher than the net asset value of the fund shares, resulting in a large premium. To protect the interests of investors, trading of this fund will be halted from the opening on March 2, 2026, until 10:30 on the same day. Trading will resume at 10:30, and redemption services will be handled normally during the trading halt. If the premium does not effectively decline on that day, the fund reserves the right to take further measures to warn of risks.
Laopu Gold Raises Prices by 20% - 30% in the First Round in 2026, with a Cumulative Increase of Over 45% in Three Price Adjustments Last Year
On February 28, Laopu Gold officially implemented the first price increase in 2026. A reporter from Jiemian News learned first-hand that the price increase for single products ranges from 20% to 30%, with an overall average increase of 25%.
It is reported that Laopu Gold adjusted its prices in February, August, and October 2025, with increases of 5% - 10%, 10% - 12%, and 18% - 25% respectively. A person in the gold and jewelry industry told a reporter from Jiemian News: "The cumulative increase in the three price adjustments of Laopu Gold in 2025 was around 45%, lower than the nearly 60% increase in the gold price during the same period." (Jiemian News)
Over 100 GUESS Branches in China Have Been Cancelled
According to media reports, recently, many consumers have received official notification text messages from GUESS, a well - known American fashion brand. The message shows that due to the adjustment of the business model, all of GUESS's online and offline stores across the country will be officially closed before the end of March. In the future, the brand will deeply explore the Chinese market with a new model. (DoNews)
The supporting rules for the national subsidy for automobiles in 2026 have been implemented across the country
At the beginning of the Year of the Horse, multiple provinces have intensively released supporting rules for the automobile trade - in policy. According to statistics, since February 10th, more than 5 provinces including Hunan, Qinghai, Henan, Fujian, and Jiangxi have successively introduced supporting rules for automobile trade - ins. Currently, all provincial - level administrative regions in mainland China have introduced supporting rules for the national subsidy for automobiles in 2026. After comprehensive review, the subsidy rules issued by each province are roughly the same. The implementation time of the policy starts from January 1st, 2026, and lasts until December 31st, 2026. (Yicai Global)
Greg Abel, Buffett's successor, releases his first letter to Berkshire Hathaway shareholders
Greg Abel, the successor to Warren Buffett, released his first letter to Berkshire Hathaway shareholders on Saturday. Meanwhile, the company wrote down the value of its stakes in Kraft Heinz and Occidental Petroleum by $4.5 billion. (Sina Finance)
StarV, the AR glasses brand under Meizu, is seeking independent financing
It is learned from informed sources that StarV, the AR glasses brand under Meizu, is seeking independent financing, and the possibility of a separate sale is not ruled out. It has contacted some potential enterprises, but the negotiations are still ongoing. (Sci - tech Innovation Board Daily)
China Releases Its First National Standard System for Humanoid Robots and Embodied Intelligence
On February 28, the annual conference on standardization of humanoid robots and embodied intelligence (HEIS) was held in Beijing. As the first annual conference since the establishment of the Standardization Technical Committee for Humanoid Robots and Embodied Intelligence of the Ministry of Industry and Information Technology (hereinafter referred to as the "Standardization Committee") in December 2025, representatives from the government, enterprises, research institutions, and investment circles gathered to jointly discuss industrial standardization work. At the conference, the "Standard System for Humanoid Robots and Embodied Intelligence (2026 Edition)" (hereinafter referred to as the "System") was officially released. This is China's first top - level standard design covering the entire industrial chain and life cycle of humanoid robots, marking that the relevant industry has entered a new stage of standardized development. (CCTV News)
Frequent Large-scale Financing in the Robot Industry After the Spring Festival Gala, but the Commercialization Test Remains Ongoing
After stealing the show at the CCTV Spring Festival Gala, the humanoid robot industry has successively witnessed news of large-scale financing. On February 23, Zhipingfang secured over 1 billion yuan in Series B financing, and the company's valuation exceeded 10 billion yuan. On February 24, Qianxun Intelligence announced that it had recently received two rounds of financing in succession, with a total amount of nearly 2 billion yuan, and officially entered the "10-billion-yuan club". Several embodied intelligence companies, such as the Beijing Humanoid Robot Innovation Center, Yingshi Robot, Juwei Technology, and Zhongke Fifth Era, also announced the completion of their latest round of financing recently. After the excitement, the question of whether the traffic brought by the Spring Festival Gala can be transformed into commercial competitiveness and whether it can gain customer recognition in actual operation scenarios continues to test the commercialization scenarios of humanoid robot enterprises. (e Company)
Aeon Supermarket Responds to Rumors of Exiting the Chinese Market: False Information
Recently, there have been reports on social platforms that all Aeon supermarkets in the North China region will close their stores starting from March. Another rumor suggests that Aeon's supermarket business is about to withdraw from the Chinese market entirely. On February 28, Aeon China told Jiemian News that whether Aeon supermarkets will withdraw from Tianjin and other places should be subject to official announcements. The online rumor that Aeon supermarkets will withdraw from China as a whole is false information.
According to the official website, currently, the operating entity of Aeon's general merchandise supermarket business in the North China region is Aeon Commercial Co., Ltd., which manages five Aeon supermarket stores in total, including the TEDA, Zhongbei, Meijiang, and Jinnan stores in Tianjin, as well as the Yanjiao store in Hebei. Previously, due to the company's business adjustment, the Fengtai store of Aeon supermarket in Beijing closed in May 2025, which was the last store in the Beijing market. (Jiemian News)
Netflix Confirms Receiving $2.8 Billion Termination Fee from Paramount
According to reports, people familiar with the matter revealed that after Netflix abandoned its plan to acquire part of Warner Bros. Discovery's business, Paramount Global has paid Netflix a $2.8 billion termination fee.
Netflix confirmed the news on February 27 local time. In a filing with the U.S. Securities and Exchange Commission, the company said: "Warner Bros. Discovery notified Netflix that it had terminated the merger agreement in accordance with the terms of the agreement in order to sign a merger agreement with Paramount Global regarding the latter's superior proposal for the company. At the same time as terminating the merger agreement and Warner Bros. Discovery signing the agreement with Paramount Global, Paramount Global paid Netflix on behalf of Warner Bros. Discovery the $2.8 billion termination fee payable under the terms of the merger agreement." (Jiemian News)
LV's Chinese company changes leadership: DAVID PONZO steps down as legal representative and chairman
Recently, there has been an industrial and commercial change in Louis Vuitton (China) Commercial Sales Co., Ltd., an affiliated company of LV in China. DAVID PONZO has stepped down as the legal representative and chairman, and has been succeeded by Hugues, Henri, Pierre BONNET - MASIMBERT. Louis Vuitton (China) Commercial Sales Co., Ltd. was established in November 2004 with a registered capital of 50 million RMB. Its business scope includes retail sales of publications, food sales, liquor business, sales of leather products, sales of luggage, wholesale of clothing and accessories, retail of clothing and accessories, etc. It is wholly - owned by Louis Vuitton Hong Kong Limited. (DoNews)
SpaceX is reported to plan to secretly submit an IPO application as early as next month, with a valuation possibly exceeding $1.75 trillion
On February 27 local time, it was reported that people familiar with the matter revealed that SpaceX is advancing its largest - ever listing plan and is considering secretly submitting an initial public offering (IPO) application as early as March. People familiar with the matter said that the relevant considerations are still ongoing, the specific details may change, and SpaceX may still postpone submitting the application. Another person familiar with the matter said that SpaceX may seek a valuation of more than $1.75 trillion in the IPO. Previously, it was reported that after the merger of SpaceX and xAI, the valuation of the new company reached $1.25 trillion. (Yicai Global)
US Delays Manned Lunar Landing Program to 2028 Again
The US National Aeronautics and Space Administration (NASA) announced on the 27th that it is adjusting the "Artemis" lunar mission, postponing the originally planned manned lunar landing mission in 2027 to 2028. (STAR Market Daily)
Delta Air Lines Orders 34 More Airbus Planes
On February 27 local time, Delta Air Lines announced an order for 34 Airbus A321neo aircraft. This is the company's third aircraft order in less than six weeks. Delta Air Lines said that the newly ordered planes will start to be delivered in 2029. (Jiemian News)
Going Public in Progress
Chinese Online
36Kr learned that Chinese Online announced that the company submitted an application to The Stock Exchange of Hong Kong Limited on February 27, 2026, for the issuance of overseas - listed shares (H - shares) and listing on the Main Board of the Hong Kong Stock Exchange. On the same day, the application documents for this issuance and listing were published on the website of the Hong Kong Stock Exchange.
The Cutting - Edge of AI
Foreign Media: OpenAI Secures $110 Billion in Financing, with NVIDIA Investing $30 Billion
According to a report by CNBC, OpenAI announced a $110 billion financing round on Friday. This financing scale is more than twice that of its previous round a year ago, setting a record for private technology companies.
A statement released by OpenAI on Friday stated that Amazon, NVIDIA, and SoftBank invested $50 billion, $30 billion, and $30 billion respectively in this financing round. This investment values OpenAI at $730 billion (before the investment is accounted for), representing a significant increase compared to its $500 billion valuation in the secondary financing round in October. OpenAI said that as this financing round progresses, other investors are also expected to join. (Securities Times)
OpenAI and Amazon Announce Strategic Partnership
36Kr learned that on February 28, OpenAI and Amazon announced a multi-year strategic partnership aimed at accelerating AI innovation for global enterprises, startups, and end consumers. Amazon will also invest $50 billion in OpenAI, with an initial investment of $15 billion and an additional $35 billion to be added after meeting specific conditions in the coming months.
Alibaba Opens Source Desktop Agent Tool CoPaw, Allowing Secondary Development of Custom Models
36Kr learned that on February 28th, Alibaba open-sourced the desktop Agent tool CoPaw. Users can not only deploy it locally and on the cloud with one click, but also conduct secondary development based on CoPaw. They can freely connect local models, write Skills, and connect exclusive messaging apps to meet more customized scenario requirements. Based on the rich built-in Skills, CoPaw can help users complete tasks such as summarizing social platform content, querying and summarizing information, and organizing the desktop.
Financial Reports of Large Companies
Berkshire Hathaway's revenue in 2025 was $371.444 billion, and its net profit was $66.968 billion
Berkshire Hathaway announced that its full - year revenue in 2025 was $371.444 billion, compared with $371.433 billion in the same period of the previous year; the net profit was $66.968 billion, compared with $88.995 billion in the same period of the previous year. (Jiemian News)
Trump Media & Technology Group's Financial Assets Reach $2.5 Billion in 2025
On February 27 local time, Trump Media & Technology Group released its financial performance report for 2025. The report shows that in 2025, the group's financial assets were $2.5 billion, and its operating income was $3.7 million. (Yicai Global)
Cool Products
iPhone Fold Pricing May Reverse, Mass Production in July 2026 and Release in September
Supply chain sources indicate that Apple's first foldable iPhone Fold and the iPhone 18 Pro will enter mass production in July 2026 and make their official debut at the autumn press conference in September. Previously, there were reports that the iPhone Fold would be priced close to 20,000 yuan, potentially becoming the most expensive iPhone in Apple's history. However, digital blogger @FixedFocusDigital said that the pricing of this device will be more conservative. Although it will cost over 10,000 yuan, it won't be as exorbitant as the rumors suggest.
The iPhone Fold features an internal and external dual - screen design, with a 5.5 - inch external screen and a 7.8 - inch internal screen when unfolded. It is equipped with the A20 Pro chip. To save internal space, Apple has canceled Face ID and switched to side - mounted fingerprint recognition. It comes with a dual - camera setup on the rear, one front - facing camera on the external screen, and one on the internal screen. At the same time, it may cancel the physical SIM card slot and fully support eSIM. Many of its designs have been specifically adjusted for the foldable form factor. (Kuaikeji)
Compiled | Yuting He