At 8:00, here are the latest news: Oil prices may surge by over 70%; Gold and silver prices have plummeted; The orange color of the iPhone 17 turns pink after one month of use, and Apple's official refuses the warranty application.

Today's Hot News Guide

Chow Tai Fook Jewellery Group: Gold bar products are normally on sale.

The blockage of the Strait of Hormuz has led to a sharp rise in international oil prices, and domestic refined oil prices are set to increase.

The "Purple Sweet Potato Fairy" has made Liu Wenxiang Malatang popular: The stores have received a large number of orders, and the brand has suspended accepting new cooperation.

Wang Yong, the vice president of Shede Spirits, has resigned for work - related reasons.

Huawei has released multiple models of super - node products and solutions overseas.

Top 3 Big News

Historical data shows that when there is a regime change in major oil-producing countries, oil prices may rise by more than 70%.

The ongoing tensions in the Middle East have led to increased volatility in international oil prices. JPMorgan Chase predicts that if the current military conflict between the United States, Israel and Iran lasts for more than three weeks, the price of Brent crude oil could soar to $120 per barrel. The global head of commodities research at JPMorgan Chase also pointed out that another major variable they are monitoring is that if the Iranian regime collapses, it will also pose a serious risk to oil supply. Historical data shows that when there is a regime change in major oil-producing countries, oil prices usually soar by more than 70%.

The market has already shown a substantial reaction, and the war has begun to disrupt the metal market. According to data from a consulting firm, the Middle East accounts for about 9% of global aluminum production capacity and is an important aluminum-producing and exporting region. Overnight, Bloomberg cited sources as saying that due to the escalation of the situation in the Middle East, Rio Tinto has suspended negotiations with Japanese customers on second-quarter aluminum supply. Rio Tinto, with its smelters in Canada and Australia, is one of the world's major aluminum suppliers. According to sources, Rio Tinto has withdrawn its previous premium offer of $250 per ton. Rio Tinto believes that the impact of the Middle East conflict on metal prices is the reason for its adjustment of the offer. (CCTV Finance)

Gold and silver plunge sharply, and three major futures exchanges including the Shanghai Futures Exchange issue urgent risk warnings

On March 3rd, the international precious metals market suddenly experienced violent fluctuations, with spot gold and silver both plunging sharply. As of 13:59 on the 3rd, the price of London spot gold was reported at $5,309.285 per ounce, down 0.68% for the day; the price of London spot silver was reported at $85.256 per ounce, with a decline of 4.64%. In the previous trading day, affected by the escalation of the geopolitical conflict in the Middle East, the precious metals market once soared significantly. Spot gold approached $5,430 per ounce during the session, and spot silver strongly broke through $95 per ounce, with a high level of bullish sentiment in the market. Facing the violent market fluctuations, on the evening of March 2nd, the Shanghai Futures Exchange, the Zhengzhou Commodity Exchange, and the Dalian Commodity Exchange successively issued market risk warning letters, reminding investors to invest rationally and take good risk prevention measures. (China News Service)

After one month of use, the orange color of the iPhone 17 turned pink, and Apple officially rejected the warranty application

Recently, a large number of consumers have collectively reported that the iPhone 17 Pro/Pro Max models in the Stellar Orange color scheme, purchased from the official Apple store for 13,999 yuan, experienced severe color fading after only one month of normal use. The aluminum alloy body uniformly changed from orange to pink, and in some areas, the orange color almost completely disappeared. All users stated that they used phone cases, did not expose the phones to direct sunlight, and did not come into contact with chemical reagents, yet the problem still occurred. Apple officially rejected the warranty applications on the grounds that "shell color fading is considered normal wear and tear of the appearance and is not covered by the warranty," and only suggested using phone cases. As the number of complaints soared, Apple's after - sales service in some regions began to provide free device replacements for devices confirmed to have non - human - caused manufacturing defects through testing, but a national unified handling plan has not yet been released. (Black Cat Complaint)

Large Companies/ Major Events

Chow Tai Fook Jewellery Group: Gold bar products are normally on sale

In response to the rumor that some branded gold stores have suspended the sale of investment gold bars against the backdrop of rising gold prices, a spokesperson for Chow Tai Fook Jewellery Group said, "Chow Tai Fook Jewellery has always been selling gold bar products normally." A salesperson from Chow Sang Sang also said that investment gold bars in the store are normally on sale, with different weights available for selection. The quotes for relevant products of both brands on March 3 were all above 1,420 yuan per gram. (Caixin)

As of 9:00 on March 3rd, China Railway 12306 has sold a total of 429 million train tickets during the Spring Festival travel rush.

It is learned from China State Railway Group Co., Ltd. that as of March 2nd, the national railway has transported a total of 407 million passengers during the Spring Festival travel rush. Among them, on March 2nd, the national railway transported 13.208 million passengers, and the transportation was safe, stable and orderly. On March 3rd, the national railway is expected to transport 10.7 million passengers, and 743 passenger trains are planned to be added. As of 9:00 on March 3rd, China Railway 12306 has sold a total of 429 million train tickets during the Spring Festival travel rush. (Huaxia Times)

Xiaomi Reclaims the Wearable Market Championship, Reaching the Top with an 18% Share in 2025

On March 2nd, market research firm Omdia released data on the global wearable device market for 2025. The annual shipment volume exceeded 200 million units for the first time, a year-on-year increase of 6%. Xiaomi returned to the global top spot for the first time since 2020, becoming the wearable device manufacturer with the largest annual shipment volume with an 18% market share.

Chen Qiufan, a research manager at Omdia, pointed out that Xiaomi's rise to the top is due to its multi - category systematic strategy rather than relying on a single flagship product. Xiaomi's fitness bands continue to solidify the mass market base, while the basic smartwatches rely on self - developed chips and in - depth ecological integration to promote the brand's upward movement in the value chain. Apple ranked second with a 17% share and remained strong in the high - end market, maintaining the stickiness of high - value users with 5G connectivity and health functions such as hypertension monitoring. (Kuaikeji)

The Blockade of the Strait of Hormuz Leads to a Sharp Rise in International Oil Prices, and Domestic Refined Oil Prices Are Set to Increase

Affected by the escalation of the situation in the Middle East, shipping in the Strait of Hormuz, the world's energy artery, has been disrupted. Many shipping giants have suspended their operations, leading to a significant surge in international oil prices. On March 3rd, WTI crude oil futures closed up 6.28% at $71.23 per barrel, and Brent crude oil futures closed up 6.68% at $77.74 per barrel, briefly exceeding $82 during trading and reaching a new high. Domestic crude oil futures' main contract has hit the daily limit for two consecutive days, with a cumulative increase of 12%. As a result, the next price adjustment window for domestic refined oil will open at 24:00 on March 9th. (Sina Finance)

Most Chinese citizens have left Iran

Reporters learned from the Chinese Embassy in Iran and the Federation of Chinese Associations in Iran that as of the time of publication, most Chinese citizens in Iran have gradually left. Considering that the security situation in Iran has become increasingly severe and complex, and there have been multiple explosions around the Chinese Embassy in Iran and the location of the Federation of Chinese Associations in Iran, the temporary evacuation working group of the Federation of Chinese Associations in Iran is expected to complete the final evacuation on March 3. The subsequent evacuation work will continue to be carried out as appropriate according to the actual situation under the overall arrangements of the Chinese Embassy in Iran. (People's Daily)

Foreign Ministry Responds to the Situation in the Strait of Hormuz

On March 3, Mao Ning, the spokesperson of the Ministry of Foreign Affairs, presided over a regular press conference. A reporter from Bloomberg asked a question about the situation in the Strait of Hormuz. Mao Ning pointed out that energy security is of great significance to the world economy, and all parties have the responsibility to ensure the stable and smooth supply of energy. China urges all parties to immediately cease military actions, avoid the escalation of tensions, safeguard the safety of navigation channels in the Strait of Hormuz, and prevent greater impacts on the global economy. (The Beijing News)

"Purple Sweet Potato Spirit" Boosts Liu Wenxiang Malatang: Stores Experience Explosive Orders, Brand Suspends Accepting New Partnerships

Recently, the official brand cooperation consultation account of Liu Wenxiang Malatang issued a "Notice on Suspending Accepting New Cooperation Consultations". The notice mentioned that from March 2nd to April 3rd, the company will suspend accepting consultations for new cooperation businesses. Intended customers who have completed consultations or are already in the communication process can proceed with reservations and subsequent matters as originally planned. On March 3rd, a reporter from Jiemian News called the official franchise hotline of Liu Wenxiang Malatang. The voice message indicated that due to the rapid business development of the company recently, in order to ensure the service quality of existing stores and safeguard the brand's reputation, the company will suspend accepting new cooperation businesses from now until April 3rd. Please forgive us for any inconvenience caused.

The brand has unexpectedly become extremely popular recently because of the short - video character "Purple Sweet Potato Spirit", resulting in a sharp increase in store orders and pressure on the supply chain. It is reported that the short - video creator Zhou Xiaonao created the character "Purple Sweet Potato Spirit" in the "Hotel Winter Intern" series. The character has a catchy line, "If the whole world blames you, I'll take you to eat at Liu Wenxiang", which has led to the brand of Liu Wenxiang Malatang becoming popular across the country. (Jiemian News)

Huawei Launches Multiple Models of Supernode Products and Solutions Overseas

36Kr learned that during MWC 2026 Barcelona, Zhang Xiwei, President of Huawei's Computing Product Line, launched multiple models of supernode products and solutions. It is understood that the computing products and solutions launched by Huawei this time include the Atlas 950 SuperPoD Intelligent Computing Supernode, the Atlas 850E Supernode Server, the industry's first general-purpose computing supernode TaiShan 950 SuperPoD, and serialized products such as TaiShan 500 and TaiShan 200.

Wang Yong, Vice President of Shede Wine, Resigns Due to Work Reasons

Shede Wine announced on March 3rd that the company's board of directors recently received a written resignation report from Wang Yong, the vice president. Wang Yong applied to resign from the position of vice president of the company due to work reasons, and will no longer hold any position in the company after resignation. Wang Yong's resignation will take effect from the date when the resignation report is delivered to the board of directors. (Jiemian News)

Apple Believed to Think New MacBook Offers High Cost - Performance Ratio, May Attract Win11/ChromeOS Users

According to Bloomberg reporter Mark Gurman in his Power On newsletter, Apple internally gave the rumored budget - friendly MacBook an evaluation of "extremely high cost - performance ratio". It is expected that after its release, a large number of Microsoft Win11 and Google ChromeOS users will switch to the Mac camp. Meanwhile, it is also hoped that iPhone users without a computer will purchase their first Mac. Currently, Apple has not announced the price of this product. Referring to the starting price of the currently available MacBook Air at $999, the budget - friendly MacBook will be priced significantly lower. To avoid conflicts with the iPad product line, the reasonable pricing range is expected to be between $599 - $799 (approximately 4,115 - 5,489 Chinese yuan), positioning it between the iPad Air and the MacBook Air. (IT Home)

Citi Warns: If Oil Prices Remain High, South Korea's GDP Growth This Year Will Drop by 0.45 Percentage Points

Kim Jin-woo, an analyst at Citibank, predicted that if oil prices continue to stay above $82 per barrel, South Korea's GDP growth rate this year will be dragged down by 0.45 percentage points. The bank's basic scenario forecast for the international oil benchmark price, Brent crude oil price, is that the price will be $62 per barrel for the rest of this year. (Sina Finance)

Qualcomm CEO Says Robotics Technology Expected to Achieve Scale in Two Years

Cristiano Amon, CEO of U.S. chip giant Qualcomm, said in an interview on March 2 (local time) that as the company continues to expand into business areas beyond smartphones, robotics technology will become a "bigger opportunity" in the next two years. Amon said, "I think robotics technology will achieve scale in the next two years. I think it will become a bigger opportunity within two years." He made the above statement when answering a question about when robotics technology will become an important business for Qualcomm. (Sina Finance)

Nvidia Replaces Micron Technology as Morgan Stanley's New Top Chip Stock

Nvidia has once again become Morgan Stanley's top pick in the chip sector, reclaiming this position from Micron Technology. Analyst Joseph Moore said that despite signs of an improvement in Nvidia's business performance, the company's stock price has struggled to rise recently. He pointed out, "Over the next few months, these concerns should turn into enthusiasm for 2027." Moore wrote in a report to clients, "Sustainability is more difficult, but comprehensive verification shows that hyperscale cloud service providers will experience multi - year spending growth." He added that "confidence in Nvidia's prospects should increase." (Sina Finance)

Zuckerberg and his wife reported to buy property in Miami for $170 million to avoid California's rich tax

On March 3rd, Mark Zuckerberg, the founder of Meta Platforms, and his wife purchased a luxury mansion on the private island of Biscayne Bay in Miami, known as the "billionaire's refuge," for $170 million. This property transaction set a record for the most expensive residential deal in Miami-Dade County, Florida, USA. Previously, there were reports that California in the United States is promoting a referendum to propose a one-time 5% "billionaire tax" on billionaires with assets of over $1 billion. This tax proposal would target approximately 200 California residents worth over $1 billion. Currently, there is no such relevant tax in Florida. (Jiemian News)

Tesla's sales rebounded significantly in some European markets in February

After two consecutive years of declining sales in the European market, Tesla finally showed signs of stability. The released data shows that the company's market share in three major markets increased significantly in February this year, which is regarded as a positive signal for the recovery of demand for electric vehicles in Europe. Tesla's strong rebound in several major European markets indicates that consumer demand for Tesla products has not completely subsided. (Sina Finance)

Hong Kong Starts to Impose Higher Taxes on Super Luxury Mansions

At the beginning of 2026, the property market in Hong Kong continues to show signs of warmth. According to statistics from Centaline Property Agency in Hong Kong, in the first two months of this year, there have already been 48 transactions of residential properties worth over HK$100 million. In the whole year of 2025, the number of residential transactions at this level reached 262, setting a new high over the years. Against this background, the Hong Kong government has "targeted" super luxury mansions. Recently, it announced that it will adjust the stamp duty rate for residential property transactions worth over HK$100 million, raising it from 4.25% to 6.5%. The industry believes that the purpose of this new policy is not to suppress the real - estate market, but to increase tax revenue. At the same time, since the scope of this policy is relatively small, it is expected not to affect the momentum of the property market's recovery. (Yicai Global)

The three major U.S. stock indexes closed down collectively, and large technology stocks showed mixed performance

36Kr learned that at the close on March 3rd, the three major U.S. stock indexes fell collectively. The Dow Jones Industrial Average dropped 0.83%, the Nasdaq Composite declined 1.02%, and the S&P 500 Index fell 0.94%. Large technology stocks showed mixed performance. Microsoft rose more than 1%, and Netflix, Meta, and Amazon rose slightly. Intel dropped more than 5%, Tesla fell more than 2%, NVIDIA declined more than 1%, and Apple and Google fell slightly. Most popular Chinese concept stocks fell. XPeng Motors dropped more than 6%, Alibaba declined more than 4%, Baidu and Miniso fell more than 3%, and Li Auto, NIO, JD.com, and Pinduoduo dropped more than 2%.

ChatGPT Faces Widespread User Boycott, Altman Apologizes on X Platform

ChatGPT is facing a widespread user boycott, and the "Cancel ChatGPT" movement is rapidly spreading on US social media platforms.

On March 3rd, foreign media cited data from US mobile app analytics company Sensor Tower, stating that on February 28th, the day when OpenAI announced an agreement with the US Department of Defense, the uninstallation volume of the ChatGPT mobile app in the US increased by 295% compared to the previous day. This is a significant increase compared to ChatGPT's average daily uninstallation rate of 9% over the past 30 days. On the same day, Altman posted an apology on the X platform, saying that he was too hasty when announcing the company's new agreement with the Pentagon on February 27th. He admitted that this move was "a mistake" and stated that "these issues are extremely complex and require clear communication." (Sina Tech)

S&P Adjusts SoftBank's Rating Outlook to Negative, Says $30 Billion Investment in OpenAI May Harm Credit Quality

S&P has adjusted the rating outlook of SoftBank Group from stable to negative, stating that the company's plan to make an additional investment of $30 billion in OpenAI may harm its liquidity and the credit quality of its assets. Prior to this outlook adjustment, SoftBank decided last month to deepen its investment in OpenAI, having already invested over $30 billion in it and also made investments in other artificial intelligence companies. S&P affirmed SoftBank's long - term issuer credit rating of "BB+", saying that SoftBank may limit the negative financial impact by selling assets. The rating agency said in a statement on February 3, "SoftBank's investments in the artificial intelligence field, including those in OpenAI, mainly involve startups and private companies that we believe face significant risks of artificial intelligence innovation and fierce competition. We believe that the investment in OpenAI is one of its poorest in terms of credit quality." (Sina Finance)

Jordan Decides to Reopen Airspace and Resume All Civil Aviation Flights

The head of Jordan's civil aviation regulatory body announced on March 3 that after a comprehensive assessment of the operational and safety conditions under the current regional situation, it was decided to reopen Jordan's airspace and resume all civil aviation flights (including inbound, outbound and transit flights), and cancel the partial temporary closure measures implemented since the evening of the 2nd. The chairman of the Jordan Civil Aviation Regulatory Commission said that the decision to reopen the airspace was made after coordinating with relevant departments and conducting in - depth risk assessments, fully complying with the highest standards in the field of international civil aviation safety and security. (CCTV News)

Trump: Will Cut Off Trade Ties Between the US and Spain

On March 3 local time, during a meeting with German Chancellor Merz at the White House, US President Trump criticized Spain for its "lack of cooperation" in the operation against Iran and announced that he would cut off all trade ties between the US and Spain, saying that Spain is "a bad ally." He also said that he has instructed Treasury Secretary Vicente to "cut off all ties with Spain." (CCTV News)

Oil Prices Rebound by $3, Trump's Oil Price Curbing Effect Fleeting

On March 4th, WTI crude oil and Brent crude oil rebounded about $3 from their lows, recovering all the losses since Trump announced the crude oil maritime transportation security measures. (JIN10 Data)

Amazon Launches Amazon Now Service in Brazil, Promising to Deliver Groceries within 15 Minutes

Fernanda Grumach, the director of the shopping experience at Amazon Brazil, said that Amazon officially launched the Amazon Now service in Brazil on February 3, aiming to provide users with the delivery of daily necessities and groceries within 15 minutes. She said at a press conference in São Paulo that the service was launched in São Paulo on the 3rd and will be gradually expanded to seven other cities in Brazil by March 9. (Sina Finance)

Going Public in Progress

SoftBank Says PayPay Launches IPO Roadshow

Japanese payment company PayPay has launched a roadshow for its U.S. initial public offering (IPO); the proposed offering price is estimated to be between $17 and $20 per share. Goldman Sachs, JPMorgan Chase, Mizuho Securities USA, and Morgan Stanley are acting as joint bookrunners. (Sina Finance)

The Cutting - Edge of AI

Anthropic: Claude's Memory Function Now Available to Free Users

Anthropic stated that the memory function, previously only available to paid users, has been opened to Claude users since March 2nd. This tool is similar to the free version of OpenAI's chatbot, ChatGPT. Additionally, Anthropic has simplified the process for new users to import chat histories from other AI chatbots (such as ChatGPT), which can be done with just a simple copy - paste. (Caixin Press)

Alibaba Open-Sources Four Small-Sized Models in the Qwen 3.5 Series

36Kr learned that on the night of March 2nd, Alibaba officially open-sourced four small-sized models in the Qwen 3.5 series: Qwen 3.5 - 0.8B/2B/4B/9B. This series of models adopts native multi-modal training and the latest model architecture, which can meet different needs ranging from extremely resource-constrained to high-performance lightweight applications. After the models were released, Elon Musk immediately liked and commented on X, saying, "Amazing level of intelligence."

Honor Collaborates with Fudan University to Develop the Foundation Model for Agents, MagicAgent, and Opens It Globally

36Kr learned that on March 3rd, Honor released MagicAgent, the industry's first foundation model for agents that is designed for full - scenario generalization planning and supports heterogeneous task orchestration. It is understood that this model is a joint result of Honor and Fudan University, which supports the YOYO Agent to automatically execute task planning.

Ali Desktop Agent QoderWork is Fully Open

36Kr learned that according to Alibaba Cloud, Ali Desktop Agent QoderWork is fully open. It offers both Mac and Windows versions, and all users can download and use it through the official website.

More than 20% of Baidu App users have used OpenClaw for investment and financial analysis within two weeks of its integration

36Kr learned that on March 3rd, according to insiders, within two weeks of Baidu App integrating OpenClaw, more than 20% of users used it to handle investment and financial tasks, and 40% of users used it to organize information and analyze reports after Baidu App deployed OpenClaw.

Sources say News Corp has reached a multi-year AI licensing agreement with Meta Platforms

Sources say that News Corp has reached a multi-year AI licensing agreement with Meta Platforms. The agreement will last for at least three years. Meta will pay News Corp up to $50 million per year for content licensing for training and content output. (Cailian Press)

Cool Products

Qianwen AI Glasses' real - device exposed, will be available for sale on March 8th

On March 2nd local time, the Mobile World Congress (MWC 2026) opened in Barcelona, Spain, and the real device of Qianwen AI Glasses was exposed. At the Qianwen AI Glasses booth, overseas audiences queued up to try them on. Previously, Alibaba announced that its personal AI assistant, "Qianwen", was entering the AI hardware field and launched its first AI glasses of the same name. It is understood that the Qianwen AI Glasses G1 started the "0 - yuan reservation" through all channels in China on March 2nd and will be available for sale on March 8th. This series of glasses is equipped with dual flagship chips and dual systems, has a built - in 64GB storage space, and for the first time, the "sunglasses style" is launched with 7 colorful lens color schemes.

Horizon HSD Equipped on iCAR V27

36Kr learned that on March 3rd, iCAR and Horizon jointly held an intelligent driving technology press conference, for the first time comprehensively demonstrating the assisted driving capabilities of the new mass - produced model iCAR V27 equipped with Horizon HSD (Horizon SuperDrive™️, a full - scenario assisted driving system). The iCAR V27 is equipped with the Horizon Journey 6P chip, with a single - chip computing power of 560 TOPS, and is paired with 27 high - precision sensors (including lidar).

Apple Releases New Studio Display and Brand - New Studio Display XDR

36Kr learned that on March 3rd, Apple's official website released a new Studio Display and a brand - new Studio Display XDR.

Investment and Financing

"Xiaoyu Intelligence" Completes Hundreds of Millions of Yuan in Series B Financing

36Kr learned that on March 3rd, the general embodied intelligence technology company "Xiaoyu Intelligence" announced the completion of hundreds of millions of yuan in Series B financing. This round of financing was led by Huaye Tiancheng, followed by China Merchants Bank International, Moutai Fund, and Guizhou Provincial Science and Technology Innovation Angel Fund. Existing shareholders Didi and Li Wanqiang, co-founder of Xiaomi, made additional investments. Qiao Zhongliang, the founder of Xiaoyu Intelligence, said that this round of financing will be used to increase investment in the embodied large model, continue to deploy in industrial scenarios, and carry out strategic cooperation with supply chain enterprises to accelerate mass production.

Compiled | Kris Strawberry Tofu