9:00, 1 Krypton | "Chinese detective" Henry Lee passed away; Logitech apologized for the slogan "You come running like a dog when there's a price cut"; Sushiro requires diners to show the last digits of their mobile phone SIM cards.
Today's Hotspot Guide
- Lin Junyang, the former head of Alibaba's Qianwen, published his first long article after leaving the company: Shifting from training models to training agents
- Ninebot: Reached a cooperation with Pop Mart, and the co - branded electric vehicles will be launched in April
- Apple may change its strategy and open Siri to external AI assistants
- Many CEOs who are about to step down cited artificial intelligence as one of the reasons for their departure
- The UK will launch a pilot program to restrict teenagers' use of social media
Top 3 Big News
Chinese-American forensic expert Henry Lee passed away at the age of 87
The University of New Haven in Connecticut, USA, announced on the 27th that Chinese-American forensic expert Henry Lee passed away at his home in Nevada on the same day, at the age of 87. Jens Frederiksen, the president of the University of New Haven, said that Henry Lee made outstanding contributions to the university and the international forensic medicine community, and had a profound impact on generations of students and law enforcement professionals.
Henry Lee was born in Rugao, Jiangsu in November 1938. During his decades-long career, he served as a forensic expert in all 50 states of the United States and at least 46 countries, gave lectures in more than 70 countries, and provided consulting services to about 600 law enforcement agencies. The cases he participated in investigating included the re - investigation of the assassination of then - US President John F. Kennedy, the O.J. Simpson murder case, and the September 11 terrorist attacks. Henry Lee joined the University of New Haven in 1975 and founded the Henry C. Lee Institute of Forensic Science in 1998. (Xinhua News Agency)
Logitech Responds to Offensive Advertisement Stating "You Come Running Like a Dog When the Price Drops"
On March 26th, the official flagship store account of Logitech posted a product promotion video with the caption "When I lower the price, don't you still come running like a dog". The content of the video is suspected of belittling and insulting consumers, which has triggered a large number of netizens to voice their anger and condemnation. Many netizens have accused the brand of having no bottom line and not respecting users, and have expressed their boycott of related products. The relevant topic has quickly gone viral on social media platforms.
A reporter contacted Logitech's brand side for an interview regarding this matter. Logitech responded, saying "We are very sorry for the bad experience we've brought you. We've taken down the content immediately and dealt with the relevant staff. We also hope to eliminate the negative impact." Meanwhile, many consumers have reported to the reporter that in addition to the offensive advertisement, there are also product quality issues: Some long - time users claim that all three Logitech K845 keyboards they purchased had the problem of the F - key lights not working, and the middle - button function of the G402 mouse, which is advertised as being for FPS games, also failed. Another user said that they were disappointed with the vague pricing of the new GPW product after having purchased the GPW 2nd generation product before. (Xiaoxiang Morning Post)
Sushiro diners are required to show the last digits of their mobile phone SIM cards
On March 27th, the topic of "Sushiro diners being required to show the last digits of their SIM cards" attracted a great deal of attention. Many netizens posted on social platforms, saying that Sushiro has added a new prompt to its reservation and queuing number - taking system on its mini - program: consumers need to enter the last four digits of their mobile phone numbers, and when checking in and being seated, they may be required to show the last digits of their mobile phone SIM cards to the waiter for verification.
Reporters checked Sushiro's mini - program and found that in stores in many places such as Beijing, Shanghai, Chengdu, and Jinan, users need to fill in the last four digits of their mobile phone numbers when making reservations. The reservation number - taking interface shows that "To ensure that it is the person who made the reservation dining, you need to enter the reservation number and the mobile phone number's last digits entered here when checking in at the store; you may need to show the last digits of your mobile phone SIM card to the waiter when being seated." However, currently, there are no such requirements for dining in relevant stores in Guangzhou and Shenzhen. Regarding the matter of diners being required to show the last digits of their SIM cards, Jiemian News called the store in Beijing Xidan Joy City. The relevant staff said that this measure has been implemented since March 24th, mainly to prevent scalpers from reselling queuing numbers. The staff of the Shanghai Lujiazui Center store also told Jiemian News that the behavior of scalpers reselling numbers is quite common, which will affect the store's order, so relevant measures have been taken. (Jiemian News)
Big Companies/Important Events
XPeng: The Chinese name of the company will be changed from "XPeng Motors Co., Ltd." to "XPeng Group"
36Kr learned that XPeng announced that effective April 1, 2026, the Chinese name of the company (for identification purposes only) will be changed from "XPeng Motors Co., Ltd." to "XPeng Group". The English name of the company remains unchanged, still "XPeng Inc.". Starting at 9:00 a.m. on April 1, 2026, the Chinese short name of the Class A ordinary shares of the company traded on the Main Board of The Stock Exchange of Hong Kong Limited will be changed from "XPeng Motors – W" to "XPeng Group – W".
Partial factories of Wahaha and Hongsheng have suspended production, and some factories are on holiday
On March 27th, a person close to Wahaha said that Wahaha issued a temporary notice on the evening of March 26th, halting 70% of the factory production lines, including those of multiple factories of both Wahaha and Hongsheng. This notice was given orally. Currently, except for necessary orders, other factory shipments have been suspended, and some factories have also issued holiday notices. Production is expected to resume around April 2nd. In addition, according to another person close to Wahaha, this is due to the production schedule. (Jiemian News)
Lin Junyang, former head of Tongyi Qianwen, publishes his first long article after leaving Alibaba: Shifting from training models to training agents
On March 26th, Lin Junyang (Justin Lin), the former technical head of Alibaba's Tongyi Qianwen (Qwen), posted a long article titled "From ‘Reasoning’ Thinking to ‘Agentic’ Thinking" on a social platform. This is the first long article he has published since resigning from Alibaba earlier this month. In this article, Lin Junyang systematically reviewed the characteristics of the reasoning model stage and discussed the future development direction of AI: shifting from training models to training agents. (The Paper)
Dreame Technology Issues Statement: Evidence Fixed and Police Reported, Multiple Individuals Impersonating Yu Hao Have Been Legally Dealt with
On March 26th, the Supervision Department of Dreame Technology issued a statement saying that recently, there have been frequent false rumors targeting Mr. Yu Hao, the founder of our company, on multiple online platforms. Our company fixed the evidence immediately and reported the case to the police. Currently, it has been found that multiple individuals including Yuan have impersonated Mr. Yu Hao's online identity, fabricated and spread false and untrue information, and they have all been legally dealt with. (Jiemian News)
Yonghui Superstores Enters the Second Phase of Adjustment and Reform
36Kr learned that on March 27, 2026, the first annual meeting of Yonghui Superstores' private label "Quality Yonghui" was held in Xuchang. Wang Shoucheng, the CEO of Yonghui Superstores, said that after the first phase of adjustment and reform, Yonghui Superstores achieved a dual increase in in - store customer flow and sales for the first time in five years. In 2026, Yonghui entered the second phase of adjustment and reform featuring "meticulous and in - depth development".
Ninebot: Reached a cooperation with POP MART, the co-branded electric vehicle will be launched in April
On March 27th, Ninebot announced a brand cooperation with Sweet Beans, a popular IP under POP MART. The two parties will carry out in-depth co-creation around the young consumer group and the expression of emotional value, and plan to launch the first IP co-branded electric vehicle product in April. (Securities Times)
Candy Giant's CEO Joins Weight-Loss Drug Giant
On March 26 local time, Novo Nordisk announced at its annual general meeting of shareholders the appointment of Poul Weihrauch, the CEO of Mars, a major US candy company, as an observer on the board of directors. Novo Nordisk said that the weight-loss drug market is becoming increasingly consumer-driven, and the company is studying consumer behavior. (Yicai Global)
Elon Musk Hints That Tesla May Launch a Three - Row Seating Model
On March 26, Tesla CEO Elon Musk posted a series of messages on social media platform X, hinting that Tesla plans to release or develop a new product. Alexis Ohanian, the co - founder of Reddit, replied to a post about the possibility of Tesla launching a three - row SUV. Musk retweeted Ohanian's post. Musk also replied to a post from user Keller Cliffton, which shared a screenshot of a study indicating that the inability to install three child safety seats in the back row of a car leads to a decrease in the probability of having a third child. In his reply, Musk said, "We should solve this problem." (Sina Finance)
Elon Musk is reported to be restructuring X, firing the chief marketing officer and some non-technical staff
According to people familiar with the matter, Elon Musk's X has fired its chief marketing officer and laid off a group of non-technical staff in the past few weeks in an effort to resize the social media company ahead of a potential IPO worth over $1 trillion for its parent company, SpaceX. (Sina Finance)
Apple May Change Strategy and Open Siri to External AI Assistants
Technology journalist Mark Gurman wrote on March 26 (local time) that Apple plans to open Siri to external AI assistants in order to strengthen the position of the iPhone as an AI platform. People familiar with the matter revealed that Apple is preparing to make this change as part of a comprehensive upgrade of Siri in the upcoming iOS 27 operating system update. Through cooperation with OpenAI, Siri can already access ChatGPT, but Apple will now also allow access to other competing products. It is reported that Apple is developing new tools to enable AI chatbot applications installed through the App Store to integrate with the Siri assistant. (Cailian Press)
Apple Offers Rare Bonuses to iPhone Designers to Counter Poaching by AI Firms
Apple this week offered rare bonuses to iPhone hardware designers to prevent them from moving to artificial intelligence (AI) startups like OpenAI that are developing their own devices. People familiar with the matter revealed that the company gave special bonuses worth hundreds of thousands of dollars to several members of the iPhone product design team. Apple management is increasingly concerned about potential competitors poaching engineers. OpenAI has emerged as a particularly prominent threat, as the company invited former Apple design chief Jony Ive to help design a new generation of AI - centric products. (Sina Finance)
KKR Sells Data Center Cooling Business for $4.75 Billion
On March 25th local time, private equity giant KKR announced that it would sell data center cooling business company CoolIT to Ecolab for $4.75 billion. The expected return is about 15 times the original investment (including dividends). KKR acquired a majority stake in CoolIT in 2023 when the latter was valued at approximately $270 million. (Jiemian News)
OpenAI Says ChatGPT Ad Pilot Reached Annualized Revenue of Over $100 Million in Just Six Weeks
A spokesperson for OpenAI said that the company's ChatGPT ad pilot program launched in the United States reached an annualized revenue of over $100 million in just six weeks, indicating strong early demand in the market for the emerging advertising business of this artificial intelligence startup. (Sina Finance)
Multiple outgoing CEOs list artificial intelligence as one of the reasons for their departure
Coca-Cola CEO James Quincey and former Walmart CEO Doug McMillon said that the new wave of artificial intelligence is one of the reasons for their decision to step down. Both CEOs believe that the company needs more energetic and AI-savvy talents to lead future development. This phenomenon reflects how US corporate executives view the challenges brought by the transformation of artificial intelligence. In recent months, the CEOs of two large enterprises have said that the rise of artificial intelligence is one of the reasons for their decision to hand over the reins and step down from their positions. (Sina Finance)
Dell Director Reduces Holdings by Hundreds of Thousands of Shares, Insiders' Total Sales Exceed $330 Million
A director associated with Dell Technologies sold hundreds of thousands of shares of the company's stock in recent transactions, which is part of a series of insider stock reductions disclosed this week. Documents show that a fund entity under Silver Lake disposed of 459,999 shares at an average price of $162.25 per share on March 23, cashing out approximately $74.6 million. The entity also made several other reductions earlier in March, and the total value of the shares sold in these transactions was approximately $336 million. (Sina Finance)
Google's India Chief Legal Counsel Resigns After 16 Months as Regulatory Constraints Tighten in India
Alphabet is facing further challenges in India, one of its key growth markets, as a senior lawyer in the region has left the company. According to sources, Bijoya Roy left after serving for about 16 months to pursue new business opportunities. Her departure follows that of other members of Google's public policy team, leaving a leadership gap at a time when the company is facing increasingly strict regulatory scrutiny. India remains an important market for Google as most smartphones run its Android operating system. However, the company is facing antitrust lawsuits, stricter regulations on information display, and legal issues related to its artificial intelligence training methods. (Sina Finance)
Microsoft's New Chief People Officer Amy Coleman Leads Restructuring of Internal People Operations
Microsoft is reorganizing its human resources department to focus on compensation and workplace norms. According to relevant reports, Chief People Officer Amy Coleman informed employees of the restructuring in an internal memo. An official from Microsoft confirmed these changes, stating that the move aims to restructure human resources activities to accommodate the company's large global workforce. (Sina Finance)
UK to Launch Pilot Program to Restrict Teenagers' Social Media Use
The UK government announced on March 25 that it will launch a pilot program for measures to restrict teenagers' social media use. Around 300 teenagers aged between 13 and 17 will participate in a six - week trial. They will be divided into different groups to experience measures such as a complete ban on social media use, a ban on social media use from 9 p.m. to 7 a.m. the next day, or only being allowed to use social media for 1 hour a day. Meanwhile, a control group will be set up, in which teenagers can use social media without restrictions. The pilot will focus on observing the impact of these measures on teenagers' sleep quality, academic performance, and family relationships. On January 21 this year, the UK House of Lords voted in favor of an amendment banning minors under 16 from using social media, but the amendment failed to pass in the House of Commons. (CCTV News)
Most large-cap U.S. tech stocks decline in pre-market trading, Google drops more than 1%
36Kr learned that most large-cap U.S. tech stocks declined in pre-market trading. As of press time, Arm, Meta, and Google dropped more than 1%, Microsoft dropped nearly 1%, Amazon dropped 0.65%, Tesla dropped 0.63%, Nvidia dropped 0.22%, and Apple dropped 0.03%; Netflix rose more than 1%.
Wanda Film: Plans to Change the Abbreviated Securities Name to Ruyi Film
36Kr learned that Wanda Film announced that it plans to change the company name to Ruyi Film and Entertainment Co., Ltd., change the abbreviated securities name to Ruyi Film, and revise the "Articles of Association" accordingly.
The Cutting - Edge of AI
Tencent Cloud's Agent Product Panorama Makes Its Debut
36Kr learned that on March 27th, at the Tencent Cloud Shanghai Summit, Tencent Cloud publicly released its Agent product panorama for the first time, upgraded the MaaS platform to TokenHub, and launched an enterprise-level Agent Infra governance solution to build a full-stack AI engine for the Agent era. Wu Yunsheng, the vice president of Tencent Cloud, said that the released Agent panorama covers five major dimensions: Infra, models and ecosystem, scenarios and applications, and security. It encompasses multiple scenarios such as personal efficiency improvement, office efficiency enhancement, and R & D efficiency improvement, with the product matrix fully upgraded. Meanwhile, it opens up a rich skills ecosystem including Tencent's self-developed Skills, the open-source SkillsHub, WeChat, and WeCom, adapting to the trend of shrimp farming for the general public.
ZhiYuan A2-W Robot Deployed on SAIC-GM Buick Battery Production Line
36Kr learned that the "A2-W" robot of ZhiYuan will undertake high-precision operation tasks on the mass production line of the battery for the Buick E7, becoming the first humanoid robot in the SAIC Group and one of the first in the automotive industry to be applied in the mass production line. The ZhiYuan A2-W will focus on the core production process of the battery pack.
OpenRouter: Xiaomi's MiMo-V2-Pro Model Tops the Weekly Chart, with Weekly Token Consumption Exceeding 3 Trillion
36Kr learned that the latest weekly chart data from OpenRouter shows that Xiaomi's MiMo-V2-Pro model quickly took the top spot on the weekly chart after its launch, becoming the first model in OpenRouter's history with a weekly token consumption exceeding 3 trillion. According to OpenRouter data, MiMo-V2-Pro's market share in the programming field has exceeded 30%. MiMo-V2-Pro is a flagship base for the Agent era, with a total of 1 trillion parameters, using the MoE architecture and supporting a context of up to one million levels.
Meituan Releases Native Multimodal LongCat-Next
36Kr learned that on March 27th, Meituan released and fully open - sourced the native multimodal large model LongCat - Next and its core component, the Discrete Native Resolution Vision Tokenizer (dNaViT). This model breaks the current traditional patchwork architecture of large models that are "language - centered" and maps images, voices, and texts uniformly into homologous discrete tokens. Through the pure "Next Token Prediction" (NTP) paradigm, LongCat - Next enables vision and voice to become the "native mother tongues" of AI. HK Meituan - W - 4.72%
Going Public
Anthropic
Market news: Artificial intelligence company Anthropic is discussing an initial public offering (IPO) as soon as the fourth quarter. (Sina Finance)
Shan Jin International Gold Co., Ltd.
36Kr learned that Shan Jin International Gold Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are CITIC Securities, China International Capital Corporation, and UBS Group.
StarChip Technology Co., Ltd.
36Kr learned that according to the Hong Kong Stock Exchange, StarChip Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are China International Capital Corporation and CSC International.
Changjin Photonics' IPO on the STAR Market
36Kr learned that Changjin Photonics' IPO on the STAR Market has passed the review of the listing committee.
Financial Reports of Large Companies
China Construction Bank: Net profit of 338.91 billion yuan in 2025, a year-on-year increase of 1%
36Kr learned that China Construction Bank released its 2025 performance report. The report shows that the net profit in 2025 was 338.91 billion yuan, a year-on-year increase of 1%; the net interest income was 572.77 billion yuan, a year-on-year decrease of 2.9%. The net income from fees and commissions in 2025 was 110.31 billion yuan; the board of directors proposed to distribute a cash dividend of 2.029 yuan (tax included) per 10 shares for the final period of 2025 to all ordinary shareholders, with a total dividend of approximately 53.079 billion yuan.
Haitian Flavoring Industry: Net profit of 7.038 billion yuan in 2025, a year-on-year increase of 10.95%
36Kr learned that Haitian Flavoring Industry announced that the company achieved an operating income of 28.873 billion yuan in 2025, a year-on-year increase of 7.32%; the net profit attributable to shareholders of the listed company was 7.038 billion yuan, a year-on-year increase of 10.95%. The company plans to distribute a cash dividend of 8 yuan (tax included) for every 10 shares to all shareholders.
CITIC Construction Investment: Net profit of 9.439 billion yuan in 2025, a year-on-year increase of 30.68%
36Kr learned that CITIC Construction Investment announced that the company achieved an operating income of 23.322 billion yuan in 2025, a year-on-year increase of 22.41%; the net profit attributable to shareholders of the parent company was 9.439 billion yuan, a year-on-year increase of 30.68%. The company plans to distribute a cash dividend of 1.75 yuan (tax included) for every 10 shares to all shareholders.
Bank of Communications: The net profit attributable to shareholders in 2025 was 95.622 billion yuan, a year-on-year increase of 2.18%
36Kr learned that Bank of Communications released its 2025 performance report. The report shows that in 2025, the net operating income was 265.6 billion yuan, a year-on-year increase of 2.05%; the net profit attributable to shareholders was 95.622 billion yuan, a year-on-year increase of 2.18%; and the earnings per share were 1.08 yuan.
BYD: Annual revenue in 2025 reached 803.965 billion yuan, a year-on-year increase of 3.46%
36Kr learned that BYD released its 2025 performance report. The report shows that the annual revenue in 2025 was 803.965 billion yuan, a year-on-year increase of 3.46%. The revenue from the mobile phone components, assembly and other product businesses was approximately 155.237 billion yuan, a year-on-year decrease of 2.74%. The proportions of these businesses in the Group's total revenue were 80.68% and 19.31% respectively. The annual net profit was 32.62 billion yuan, a year-on-year decrease of 19%.
Investment and Financing
"NeoWa Robotics" Completes Seed Round Financing
36Kr learned that "NeoWa Robotics" has completed a seed round of financing. The company was founded in February 2026 by Yang Ruigang, the former director of Baidu's Robotics and Autonomous Driving Laboratory, the CTO of Inceptio Technology, and an IEEE Fellow. It focuses on the "last 500 meters" delivery scenario with rigid demand.
AI Drone Company Shield AI Raises $2 Billion in Funding
AI drone company Shield AI announced on March 26 (local time) that it has completed its Series G financing, raising $1.5 billion. The post - investment valuation has reached $12.7 billion. Meanwhile, it will also obtain $500 million in fixed - income preferred stock financing. (Jiemian News)
Cool Products
ClassIn Learning Machine X5 Ultra Classic Edition Released
36Kr learned that on March 27th, the classic edition of the ClassIn Learning Machine X5 Ultra was officially released. This product is equipped with an 8 - core 6 - nanometer processor and 8GB + 256GB of memory, with its comprehensive performance improved by 18% compared to the previous generation. The integrated camera smart island has added new functions such as "AI Object Recognition" and "AI Picture - Book Reading". Data shows that as of December 2025, the ClassIn AI assistant "Xiaosi" has been activated over 1 billion times in total, and the weekly average user activity rate has remained at about 80%, with an average daily usage time of about 1 hour.
Ninebot: Reached a cooperation with POP MART, the co-branded electric vehicle will be launched in April
On March 27th, Ninebot announced a brand cooperation with Sweet Bean, a popular IP under POP MART. The two parties will carry out in-depth co-creation around the young consumer group and emotional value expression, and plan to launch the first IP co-branded electric vehicle product in April. (Securities Times)
Orion Star Launches AI Agent Service Robots
36Kr learned that on March 27th, the Orion Star Partner Win - win Conference and the New Product Launch of the Leopard Secretary Series with the theme of "Only Truly Useful Products Can Generate Real Business" was held in Beijing. At the conference, Orion Star officially launched two AI Agent voice - interactive service robots, Leopard Secretary Lite and Leopard Secretary Pro, and also launched the Robot Agent Store.
Compiled | Happy