8 o'clock, 1 Krypton: China bans foreign investment from acquiring Manus; Shanghai Disney responds to the conflict over a tourist smoking; The unlaunched Pop Mart LABUBU refrigerator has a premium of 3,000 yuan.
Top 3 Big News
DeepSeek reduces the price of input cache
Multiple low - cost US airlines seek government funds for relief
East Selection responds to a large number of users applying for membership cancellation
Wearing suits and turning on air - conditioners consumes too much electricity. Tokyo, Japan encourages civil servants to wear shorts
Indian mobile payment platform MobiKwik gets approval from the central bank
Top 3 Big Events
National Development and Reform Commission: Made a decision to prohibit foreign investment in the Manus project in accordance with laws and regulations
According to a message on the website of the National Development and Reform Commission on April 27, the Office of the Working Mechanism for the Security Review of Foreign Investment (National Development and Reform Commission) made a decision to prohibit foreign investment in the acquisition of the Manus project in accordance with laws and regulations, and required the parties to cancel the acquisition transaction.
On December 30, 2025, Manus, the world's first general artificial intelligence agent, issued an announcement stating that Manus was about to join the US technology giant Meta. Manus will continue to provide products and subscription services to users through apps and websites, and the company will continue to operate in Singapore.
On April 2 this year, in response to questions about what measures would be taken regarding Meta's acquisition of Manus and issues related to cross - border business operations of enterprises, He Yadong, the spokesperson of the Ministry of Commerce, said that the Chinese government supports enterprises to carry out cross - border business operations and technological cooperation as needed, and relevant actions need to comply with Chinese laws and regulations and fulfill legal procedures. (Xinhua News Agency)
Shanghai Disney Responds to the Conflict over a Tourist Smoking
Recently, an incident where a tourist at Shanghai Disneyland was beaten after dissuading a man from smoking has drawn public attention. Videos posted by netizens show that in Shanghai Disney Town, a man was physically attacked by another man after trying to stop him from smoking. A woman in Disney's work uniform tried to intervene but to no avail.
In fact, Shanghai Disney Resort has strengthened its tobacco - control measures since May 29, 2025. The resort clearly stipulates in the "Guest Guidelines" that smoking (including tobacco, e - cigarettes, or other products that produce smoke) is prohibited in the park or Disney Town, except in designated smoking areas. Guests are only allowed to smoke in areas within the resort marked with "Designated Smoking Area" signs.
On April 27, a reporter from The Paper searched the park map and found that the place where the man was smoking was not a "Designated Smoking Area". In response to this incident, Shanghai Disney reaffirmed the above - mentioned tobacco - control regulations on the same day. It also called on all guests to familiarize themselves with all the guest guidelines in advance before visiting Shanghai Disney Resort, abide by the guidelines and the instructions of cast members during their visit, and respect other guests and cast members. If guests notice any behavior that violates the resort's guest guidelines, they can contact the cast members for assistance. (The Paper)
The unlaunched POP MART LABUBU refrigerator has a premium of 3,000 yuan
On the afternoon of April 27th, the topic "LABUBU refrigerator has a premium of 3,000 yuan" soared to the top of the Weibo hot search list, sparking heated discussions among netizens. Recently, POP MART officially released its first household appliance product, the THE MONSTERS Life Home Series refrigerator (abbreviated as LABUBU refrigerator) on social platforms, and announced that it will be officially launched at 22:00 on April 30th. It is reported that the LABUBU refrigerator released this time is divided into the Home version and the House of the Monsters version. Each version is limited to 999 units globally, and the price of both is 5,999 yuan. Each unit has a limited edition number. As of now, the total number of pre - orders for the two products on the POP MART JD platform has exceeded 28,000. It is worth noting that before the launch on April 30th, the second - hand prices on platforms such as Xianyu have soared to 8,999 yuan, and some are priced at nearly 10,000 yuan, with a premium rate of up to 50%. (China Fund News)
Big companies/Big events
The three major U.S. stock indexes closed mixed, and NVIDIA's stock price hit a new all-time high, with its market value exceeding $5.2 trillion
36Kr learned that at the close on April 27, the three major U.S. stock indexes closed mixed. The Dow Jones Industrial Average fell 0.13%, the Nasdaq Composite rose 0.2%, and the S&P 500 Index rose 0.12%. Most large technology stocks rose. NVIDIA rose 4% to a new high, Intel rose more than 2%, Google rose more than 1%, and Tesla, Meta, and Microsoft rose slightly. Apple, Netflix, and Amazon fell more than 1%. Most popular Chinese concept stocks fell. iQiyi fell more than 5%, Alibaba, Tiger Brokers, and Bilibili fell more than 2%, and JD.com fell more than 1%. New Oriental rose more than 1%.
Among them, NVIDIA's stock price rose 4% in a single day, and the closing price reached a record peak of $216.61. Its market value then climbed to $5.26 trillion, more than $1 trillion higher than that of Alphabet, the world's second-largest company by market value. It far exceeds Alphabet, the parent company of Google, with a market value of $4.2 trillion, and Apple's $3.9 trillion, firmly ranking first in the world in terms of market value. (36Kr, Wall Street News)
Wei Qingwen, the founder of Southern Black Sesame, has been placed under investigation. He helmed the company for two decades.
On April 27th, Southern Black Sesame (000716.SZ) opened with a limit-down. As of press time, it was trading at 4.59 yuan per share, with a latest market value of 3.456 billion yuan. According to the news, on the evening of April 24th, Southern Black Sesame disclosed an announcement stating that the company and its then-chairman Wei Qingwen received a "Notice of Case Filing" issued by the China Securities Regulatory Commission on April 24th. Due to the company's suspected violations of information disclosure regulations, the CSRC decided to file a case against the company and its then-chairman Wei Qingwen. Southern Black Sesame stated in the announcement that currently, all the company's production and business activities are carried out normally and in an orderly manner. During the investigation period, the company and the parties involved will actively cooperate with the CSRC's investigation and strictly fulfill their information disclosure obligations as required by the regulators. As of the disclosure of the announcement, the specific reasons for this case filing and investigation have not been further clarified. (Jiemian News)
Meituan's Xiaoxiang Supermarket Tightens Self - Pickup Service, Suspends Service in Some Cities
Recently, consumers in many places have reported that they are unable to select the self - pickup service when placing orders at Meituan's Xiaoxiang Supermarket. A pop - up window indicates that the corresponding stations are undergoing service upgrades. Some users in places such as Beijing, Guangdong, and Shanghai have said on social platforms that since April 20th, the self - pickup stations of Xiaoxiang Supermarket that were originally within easy reach have successively suspended services. In the past, when purchasing small - value items such as a bottle of soy sauce or a pack of tissues, the convenience of free delivery through self - pickup is no longer available. In response, on April 27th, the customer service of Xiaoxiang Supermarket told Jiemian News that in order to optimize the delivery service experience, the platform has comprehensively upgraded the delivery system. Starting from now, it will concentrate resources to provide users with faster and more stable delivery services. Therefore, the self - pickup services at some stations in certain cities have been suspended. However, the customer service did not specify which cities' self - pickup stations are affected. (Jiemian News)
Pistachio prices have soared to an eight - year high
Due to the supply disruption caused by the conflict in Iran and the surge in demand for internet - famous foods represented by "Dubai chocolate", the global pistachio prices have climbed to the highest level in years. This conflict has seriously disrupted shipping routes and regional trade, hindering the exports of Iran, one of the world's largest pistachio producers, and further exacerbating the already tense market supply - demand contradiction.
According to data from the U.S. Department of Agriculture, Iran accounts for about one - fifth of the global pistachio production, and in some years, it even accounts for 25% to 30% of the global exports. However, traders said that as the U.S. - Iran conflict disrupts logistics across the Middle East, it has become increasingly difficult to transport Iranian agricultural products for export. According to Expana statistics, the price of pistachios rose to about $4.57 per pound (about 34.5 yuan per jin) in March, the highest level since 2018. The surge in demand is partly due to the global craze for "Dubai chocolate" - this chocolate bar is filled with pistachio paste and crushed pastry, which became a huge hit online in 2023, triggering a global boom in pistachio - flavored products. (China News Service)
Alibaba: Proposed spin-off approved by the Hong Kong Stock Exchange
36Kr learned that Alibaba announced that the board of directors is pleased to announce that on March 13, 2026, the Hong Kong Stock Exchange has confirmed that the Company can proceed with the proposed spin-off of the infrastructure REIT on the Shenzhen Stock Exchange. The Hong Kong Stock Exchange has also granted the Company an exemption from strictly complying with the requirement under Paragraph 3(f) of Practice Note 15 of the Hong Kong Listing Rules to provide a guaranteed quota to shareholders.
Price Reduction for DeepSeek Input Cache
According to a reporter from the Science and Technology Innovation Board Daily, starting from April 26th, for all DeepSeek API services, the price for input cache hits has been reduced to 1/10 of the original price. The Pro model will have an additional 25% limited-time discount before May 5th, 2026. After this price reduction and the limited-time discount, the input price (for cache hits) of the DeepSeek-V4-Pro model has dropped to $0.025 per million Tokens, and that of the DeepSeek-V4-Flash has dropped to $0.02 per million Tokens. (Science and Technology Innovation Board Daily)
Multiple U.S. Low-Cost Airlines Seek Government Financial Relief
According to U.S. media reports on the 26th, due to the Middle East conflict driving up international oil prices and causing an increase in the operating costs of airlines, multiple U.S. low-cost airline operators are seeking billions of dollars in financial relief from the federal government. Multiple low-cost airline operators, such as Frontier Airlines and Avelo Airlines in the United States, are "grouping together" to seek $2.5 billion in financial relief from the federal government. In exchange, these companies will provide the federal government with warrants that can be converted into equity. The report said that these airlines calculated the figure of $2.5 billion based on the latest cost estimates of this year's aviation fuel expenditure. (Xinhua News Agency)
This week, Powell will hold his last press conference
On Wednesday local time, Federal Reserve Chairman Jerome Powell is likely to chair his last press conference after a Federal Open Market Committee (FOMC) meeting as the Fed chair. This may also mark the end of the regular Q&A sessions between the Fed's top officials and journalists.
Many investors and economic experts are currently closely watching such press conferences. Supporters of the Fed chair's regular media appearances say that it allows the world's most important central bank to guide public opinion around its interest - rate adjustments and helps the market digest the Fed's policies. However, some critics, including Kevin Warsh, the successor to the Fed chair nominated by Trump, believe that Fed officials communicate too frequently. At present, it seems that Warsh is likely to be confirmed before the Fed's next policy meeting in mid - June. He has hinted that he may completely stop holding such regular press conferences. (Caixin)
Luxshare Precision's stock price hits a record high
On April 27th, the CPO concept became active again during the intraday trading. Luxshare Precision approached the daily limit, hitting a record high with a total market value exceeding 520 billion yuan. Previously, Mingpu Optoelectronics hit the daily limit, and Yingtang Zhikong rose more than 10%. Stocks such as Fuxin Technology, Kaige Precision Machinery, Accelink Technologies, and Taichenguang also followed the upward trend. According to the news, Luxshare Precision released an announcement on the record of investor relations activities. The company's CPC copper connection products are expected to be delivered to the first customer in batches from the third quarter to the fourth quarter of 2027. The 800G and 1.6T optical modules are progressing smoothly with domestic and foreign customers and will become the core driving force for future growth. (Caixin)
East Selection Responds to a Large Number of Users Applying to Cancel Membership, Customer Service Says Refunds Are Available
According to Wisdom News, regarding the membership mechanism and refund issues of East Selection's customer service, the customer service said that the annual membership fee for the self - built membership is 199 yuan, and there will be discounts on purchases made within the self - built system. If members want to get a refund, it is possible. As previously reported, on April 25th, four popular anchors under East Selection, Mingming, Tianquan, Zhongcan, and Linlin, successively announced their departures. On the same day, anchors such as Mingming and Tianquan mentioned in their posts that the reason for their departure was due to changes in the company's management and concepts. Subsequently, on the 26th, Blue Whale reporters found that a large number of users posted on social media, applying to cancel their East Selection membership. Some users mentioned that they cancelled their membership because of the departure of the anchors. Later, when reporters inquired with East Selection's customer service, they found that the number of people waiting in the consultation queue exceeded 100. (Wisdom News)
Tokyo Gas to Raise Basic Household Fees for the First Time in 46 Years
On April 27, it was reported that Tokyo Gas will raise its basic fees for the first time in nearly half a century to address rising costs and falling consumption. The company said in a notice that starting from October, the monthly bill for a standard household will increase by about 2.6%. According to a company spokesperson, this is the first increase in the fixed part of the bill (i.e., the basic fee) since 1980. The spokesperson said that the increase reflects the rising costs of service maintenance, including call centers and information systems, as well as the investment made to ensure the safety of gas-related equipment. (Jiemian News)
Apollo to Acquire Forvia's Automotive Interior Business at an Enterprise Value of €1.82 Billion
Apollo Global Management announced in a statement on April 27 that it has agreed to acquire the automotive interior business of automotive parts supplier Forvia at an enterprise value of €1.82 billion (approximately $2.1 billion). The transaction is still subject to certain conditions, including regulatory approval, and is expected to be completed in the second half of this year. (Jiemian News)
Elon Musk is at a disadvantage in the $180 billion lawsuit against OpenAI
The trial of Elon Musk's lawsuit against OpenAI has begun. Legal experts and prediction markets generally believe that Musk has little chance of winning when he enters the federal court in Oakland. Since March, the average probability of his victory on the Kalshi platform has been about 40%, far lower than the 57% he boasted about in January when he posted that he "couldn't wait for the trial." Jeff Ward, a clinical law professor at Duke University and the director of the Duke Center for Law and Technology, said when talking about Musk's chances of winning, "It's possible to win, but savvy investors won't bet on him." (Sina Finance)
Indian mobile payment platform MobiKwik gets approval from the central bank and obtains a non-banking financial institution license
Mobile payment operator One MobiKwik Systems announced on Monday that the Indian MobiKwik Group has received approval from the Reserve Bank of India (the central bank of India) and successfully obtained an operating license for a non-banking financial company (NBFC). (Sina Finance)
Trump Responds to Why Vance Left First After the Shooting: Didn't Immediately Realize the Severity When the Gunshots Rang Out and Wanted to See What Happened
On April 26 local time, US President Trump detailed the on - site situation during the shooting at the White House Correspondents' Association Dinner in an interview. Trump said that when the gunshots first rang out, he didn't immediately realize the severity of the threat and was "not worried". Instead, he wanted to observe the on - site situation first. He said that he didn't cooperate with the Secret Service in quickly evacuating at one point and "wanted to see what was happening". He also admitted that this behavior might have somewhat slowed down the response pace of the security personnel. As the situation gradually became clear, the Secret Service asked him to take immediate protective measures. Trump said that under the instructions of the security personnel, he and First Lady Melania lay down to take shelter and were then escorted out of the banquet area and transferred to a safe place. (CCTV News)
Guo Mingji: OpenAI Enters the Mobile Phone Market and Is Collaborating with MediaTek and Qualcomm to Develop Processors
Well - known analyst Guo Mingji posted that OpenAI plans to develop its own mobile phones and is collaborating with MediaTek and Qualcomm to develop mobile phone processors. Mass production is expected in 2028. Only by fully controlling the system and hardware can comprehensive AI Agent services be provided. (Caixin)
Central Banks of Multiple Countries Collectively Sell Off Gold
Another central bank has "sold off" gold. In the first quarter of this year, Azerbaijan's State Oil Fund sold approximately 22 tons of gold. According to the fund's quarterly report, the gold reserves sold are worth over $3 billion at current prices, marking the first reduction of its gold reserves since it started purchasing gold in 2012. Previously, central banks of countries such as Turkey, Russia, and Poland have also taken similar actions. (China News Service)
Wearing suits and running air conditioners consumes too much electricity. Tokyo, Japan, encourages civil servants to wear shorts
According to a recent report by the British newspaper The Guardian, in order to cope with the sweltering heat and the rising energy costs caused by the conflict between the United States and Iran, the Tokyo Metropolitan Government in Japan is encouraging civil servants to replace suits with shorts this summer. This new policy is not introduced out of thin air but is inspired by Japan's "Cool Biz" program. Tokyo officials hope that this measure can reduce people's reliance on air conditioners. The "Cool Biz" program was launched by the Japanese Ministry of the Environment in 2005. Initially, it encouraged civil servants not to wear ties and suit jackets, but it always strictly prohibited outfits that expose the legs.
Agence France - Presse reported that the threat of energy shortage is one of the factors that allow Tokyo government employees to wear casual clothes to work. The media also added that since this initiative was launched this week, some employees have been seen wearing shorts, T - shirts, and short - sleeved shirts. This initiative coincides with the activation time of Japan's heatstroke warning system. (China News Service)
The Cutting - Edge of AI
Microsoft: Will No Longer Pay Revenue Share to OpenAI, Microsoft's OpenAI License Now Turns Non-Exclusive
Microsoft and OpenAI have announced the next - stage arrangements for their cooperation. Microsoft said that it will no longer pay revenue share to OpenAI. OpenAI's revenue - share payments to Microsoft will continue until 2030, regardless of OpenAI's technological progress, and will be paid at the same proportion, but subject to a total - amount cap. Microsoft will continue to hold the IP license of OpenAI, which applies to models and products, until 2032. Microsoft's license will become non - exclusive. Microsoft remains OpenAI's primary cloud partner. OpenAI products will be preferentially launched on Azure, unless Microsoft is unable to support or chooses not to support the necessary features. As a major shareholder, Microsoft continues to directly participate in OpenAI's growth. (Caixin Press)
Former Google DeepMind researcher launches AI startup, secures record $1.1 billion seed round financing
A former core researcher from Google's artificial intelligence division, DeepMind, announced on Monday that his startup, Ineffable Intelligence, which was founded just a few months ago, has completed a seed round financing of up to $1.1 billion. This company focuses on the research and development of superintelligence. The company stated that this round of financing is the largest seed round financing in European history, and the post - investment overall valuation reaches $51 billion. This round of financing was jointly led by US venture capital firms Sequoia Capital and Lightspeed Venture Partners, with participation from multiple institutions such as NVIDIA, DST Global, Index Ventures, Google, and the UK's National AI Sovereign Fund. (Sina Finance)
The EU Issues AI Competition Compliance Guidelines to Google, Mandating Open Access to the Android System
The European Commission officially issued a series of proposed measures to Google on Monday, detailing how the tech giant should provide its AI competitors with access to the core functions of its Android mobile operating system to comply with the EU's Digital Markets Act. Regulators pointed out that Google currently reserves key capabilities in its Android system (such as voice wake-up, background operation, and in-depth interaction with system applications) for its own Gemini AI service. According to the latest proposal, Google must provide third-party AI assistants with access that is "equally effective" as its own Gemini service. (Sina Finance)
Going Public
Shenzhen LeDong Robotics
36Kr learned that according to the documents of the Hong Kong Stock Exchange, Shenzhen LeDong Robotics Co., Ltd. updated its post - hearing information package, which means that the company has passed the hearing for its IPO on the Hong Kong Stock Exchange. The joint sponsors are Haitong International and Guotai Junan International.
Financial Reports of Large Companies
Bonner Pictures Posts Nearly 3 Billion Yuan in Cumulative Losses Over Four Years, with a Net Loss of 1.464 Billion Yuan in 2025
Bonner Pictures (001330.SZ), a leading player in the film and television industry, has seen its annual losses widen once again. On the evening of April 26, Bonner Pictures released an announcement stating that in 2025, the company achieved an operating revenue of 1.253 billion yuan, a year-on-year decline of 14.28%. The net profit attributable to the parent company was a loss of 1.464 billion yuan, a year-on-year increase of 68.93%. The main reason for the decline in performance is that during the reporting period, the "80/20 rule" was evident in the national film market, and the company's operating revenue and operating profit from its film business declined compared to 2024. Jiemian News noted that this is Bonner Pictures's fourth consecutive year of losses, and the losses have been expanding year by year. From 2022 to 2024, the company's net profit losses were 75.5106 million yuan, 553 million yuan, and 867 million yuan respectively. Calculated in this way, Bonner Pictures has incurred losses of 2.96 billion yuan over the past four years. (Jiemian News)
Giants Network: Net profit in the first quarter reached 1.08 billion yuan, a year-on-year increase of 210.58%
36Kr learned that Giants Network announced that in the first quarter of 2026, it achieved an operating income of 2.329 billion yuan, a year-on-year increase of 221.70%; the net profit attributable to shareholders of the listed company was 1.08 billion yuan, a year-on-year increase of 210.58%. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 1.014 billion yuan, a year-on-year increase of 179.72%; the net cash flow from operating activities was 1.322 billion yuan, a year-on-year increase of 507.43%.
Xiechuang Data: Net profit in the first quarter was 750 million yuan, a year-on-year increase of 343.45%
36Kr learned that Xiechuang Data announced that in the first quarter of 2026, it achieved an operating income of 6.085 billion yuan, a year-on-year increase of 192.90%; the net profit attributable to shareholders of the listed company was 750 million yuan, a year-on-year increase of 343.45%.
WuXi AppTec: Net profit in the first quarter was 4.652 billion yuan, a year-on-year increase of 26.68%
36Kr learned that WuXi AppTec announced that its revenue in the first quarter was 12.436 billion yuan, a year-on-year increase of 28.81%, and the net profit was 4.652 billion yuan, a year-on-year increase of 26.68%.
Investment and Financing
"Unbounded Dynamics" Completes a New Round of Financing
36Kr learned that on April 27th, "Unbounded Dynamics" announced the completion of an Angel ++ round of financing. This round was jointly invested by Envision Group and the Beijing Artificial Intelligence Industry Investment Fund, with multiple existing shareholders such as Sequoia China, Linear Capital, Hillhouse Ventures, BV Baidu Ventures, Huaye Tiancheng, and Junshan Capital following up. Meanwhile, the Angel +++ round of financing is nearly completed, receiving support from Internet industry capital, top-tier US dollar and RMB capital, and the cumulative financing in the angel round exceeds $200 million. The funds obtained will be used to accelerate the research and development of a general embodied brain under the technological paradigm of "native world model + reinforcement learning" and the construction of technological infrastructure such as efficient data pipelines.
Star Era Completes a New Round of Financing Exceeding $200 Million
36Kr learned that recently, following a strategic round of financing of 1 billion RMB in March this year, Star Era has once again completed a new round of financing exceeding $200 million. This round of financing was led by SF Group; well - known financial institutions such as Sequoia China, IDG Capital, CICC Capital, Jingming Capital, Zhaoxi Capital, Luxin Venture Capital, Juhe Capital, and Longqi Investment jointly injected capital; multiple leading industrial parties such as Kejie Intelligence, Dongfeng Industrial Investment, ICBC Capital, and funds under China Unicom also participated; old shareholders Tsinghua Holdings Tiancheng and Hongruida also continued to increase their holdings.
Cool Products
Xiaomi's new robot makes its debut, with its body surface seemingly covered with Kevlar fabric
According to Kuaikeji, at the Xiaomi Investor Day held today, the new Xiaomi robot was officially unveiled. This robot features a humanoid design, with its body surface seemingly covered with Kevlar fabric. A prominent Xiaomi logo is printed on its chest, giving it an overall high - tech and very cool visual effect. As early as 2022, Xiaomi had showcased its first full - sized humanoid bionic robot named CyberOne, with the nickname "Tieda". It stands 1.77 meters tall and weighs 52 kg. Its cerebellar system is highly developed, enabling it to precisely maintain the balance of bipedal movement. The peak torque of its limbs can reach 300 N·m.
Four years later, the reappearance of Xiaomi's new robot has drawn high - level attention from the industry. It benefits from its profound advantages in supply chain management, cost control, and engineering implementation. (Kuaikeji)
Compiled | Chi Yu