Krstar Evening News | Baidu: Revenue in Q1 reached 32.1 billion yuan, with AI business revenue at 13.6 billion yuan; Elon Musk expects self-driving cars to be widely used in the US this year; More than a dozen companies under Juli Rigging have been deregistered.

Large companies:

Suochen Technology: The Physical AI business is currently in the early stage of layout

36Kr learned that Suochen Technology announced that the cumulative deviation value of the closing price increase of the company's stock reached 30% within three consecutive trading days from May 14th to May 18th, 2026, which is a situation of abnormal fluctuations in stock trading. The company's recently implemented fundraising project, "Construction of the Core Technology Base for Physical Synthetic Data and Demonstration Applications in Multiple Fields", is still in the preparatory stage. If the fundraising investment project fails to be implemented smoothly, the progress of new technology development fails to meet expectations, or the R & D encounters technical bottlenecks or even fails, it will have a certain impact on the company's operating performance. The company's Physical AI business is currently in the early stage of layout. The R & D of Physical AI technology requires large investment and has a fast technology iteration speed. There are risks that the R & D progress fails to meet expectations and the core technology is iterated. At the same time, there are uncertainties in the expansion of downstream industry application scenarios and commercialization. If there are unfavorable changes in market demand, industry policies, and the technological competition pattern, there is a risk that the revenue and profit contribution of the Physical AI business will fall short of expectations.

ZhiYuan WITA Becomes the First Embodied Intelligent Interaction Model in China to Complete the Filing of Large Models

36Kr learned that according to the latest announcement of the filing status of generative AI services in Shanghai by the Cyberspace Administration of Shanghai, ZhiYuan WITA has become the first large - scale embodied intelligent interaction model in China to achieve compliant filing. This marks that China's embodied intelligence industry has entered a new stage of "compliant commercial use" from "technical verification". Relying on ZhiYuan's "Three - Intelligence Integration" full - stack technology system, the core of ZhiYuan WITA is applied to the interaction scenarios of humanoid robots.

SSE: 8 New IPO Application-accepting Enterprises Added Last Week

36Kr learned that according to the news from "SSE Enterprise Listing Service", 8 new application-accepting enterprises were added during this period (from May 11th to May 17th), including 1 on the SSE Main Board, 3 on the STAR Market, 3 on the ChiNext Board, and 1 on the Beijing Stock Exchange. As of May 17th, 31 new application-accepting enterprises have been added this year. As of May 17th, there are a total of 295 enterprises under review in each board. Among them, there are 62 on the SSE (18 on the Main Board and 44 on the STAR Market), 61 on the Shenzhen Stock Exchange (17 on the Main Board and 44 on the ChiNext Board), and 172 on the Beijing Stock Exchange. As of May 17th, 20 enterprises have been announced to terminate the review (withdrawal of materials + rejection/termination of registration) in 2026, including 7 on the SSE (3 on the Main Board and 4 on the STAR Market), 1 on the ChiNext Board of the Shenzhen Stock Exchange, and 12 on the Beijing Stock Exchange.

Tencent Music: The acquisition of Ximalaya has been completed

36Kr learned that Tencent Music announced in the Hong Kong Stock Exchange that on May 18, 2026, in accordance with the terms of the merger and acquisition agreement, the acquisition of Ximalaya has been completed. Accordingly, the equity securities of Ximalaya held by relevant shareholders of Ximalaya and participants in Ximalaya's employee shareholding plan have been cancelled in exchange for the merger and acquisition consideration, which includes (subject to applicable adjustments) a maximum total cash amount of US$1.26 billion and a maximum total of 175 million Class A common shares of the Company (including Class A common shares newly issued by the Company at the time of closing and Class A common shares related to equity-based incentives granted by the Company). After the closing of the acquisition, Ximalaya has become a wholly-owned subsidiary of the Company.

iQiyi: Total revenue in Q1 reached 6.23 billion yuan, and membership revenue increased quarter-on-quarter

36Kr learned that iQiyi released its financial report for the first quarter of 2026. The report shows that iQiyi's total revenue in the first quarter was 6.23 billion yuan. Among them, the revenue from membership services was 4.20 billion yuan, a quarter-on-quarter increase of 2%. The revenue from online advertising services was 1.24 billion yuan, the revenue from content distribution was 0.36 billion yuan, and other revenue was 0.43 billion yuan.

Baidu: Revenue Reached 32.1 Billion Yuan in Q1, AI Business Revenue Hit 13.6 Billion Yuan

36Kr learned that Baidu released its financial report for the first quarter of 2026. The report shows that the revenue in the first quarter was 32.1 billion yuan, compared with 32.452 billion yuan in the same period of the previous year. The revenue from general business was 26 billion yuan, a year-on-year increase of 2%. Among them, the revenue from the AI business was 13.6 billion yuan, accounting for 52% of Baidu's general business revenue, and it has been growing for multiple consecutive quarters. The revenue from GPU cloud increased by 184% year-on-year. Robin Li, the founder of Baidu, said that the AI business revenue accounting for more than half for the first time marks that AI has become the core driving force of Baidu.

More than ten enterprises under Juli Sling Co., Ltd. have been deregistered

36Kr learned that recently, Juli Sling Co., Ltd. was investigated by the China Securities Regulatory Commission for suspected illegal and irregular misleading statements in information disclosure. Tianyancha App shows that Juli Sling Co., Ltd. was established in December 2004, with Yang Jianguo as the legal representative and a registered capital of 960 million RMB. Its business scope includes the design, production, and sales of emergency equipment, special tooling and tools for equipment, and container groups. It is jointly held by Juli Group Co., Ltd., Yang Jianzhong, Hong Kong Securities Clearing Company Limited, etc. External investment information shows that the company has made external investments in 26 enterprises, more than 10 of which are in existence, including Juli Sling (Henan) Co., Ltd. and Hebei Juli Emergency Equipment Technology Co., Ltd., while more than 10 other enterprises have been deregistered.

Investment and financing:

"Huayu Xianxiang" Completes Over 100 Million Yuan Pre-A+ Round of Financing, Led by Ant Group

36Kr learned that recently, "Huayu Xianxiang", a domestic full-tilt eVTOL company, has completed a Pre-A+ round of financing of over 100 million yuan. This round of financing was led by Ant Group, with Bianshi Times and Fosun Fortune Capital participating as follow-on investors. The funds from the financing will be mainly used to accelerate the airworthiness certification of the Honghu series of eVTOLs, as well as the implementation and innovation of low-altitude travel and commercial scenarios.

Exoskeleton brand "Jike Technology" secures $50 million in Series B+ financing

36Kr learned that recently, the exoskeleton brand "Jike Technology" announced the completion of a $50 million Series B+ financing round. This financing round was jointly led by Ant Group and Meituan Longzhu, with Sofina and Granite Asia participating as follow - on investors. Gaohu Capital served as the exclusive financial advisor. The funds from this round will accelerate Jike's strategic deployments in technology R & D, global market expansion, and consumer scenario applications.

New products:

Coocaa Releases Enterprise AI Operating System

36Kr learned that recently, Shenzhen Coocaa Network Technology Co., Ltd. held a press conference themed "Scene Intelligence · Silicon - based Management" and officially launched the native AI enterprise operating system, Coocaa Happy Work AIOS Lite MVP. This system has achieved full - dimensional coverage from living scenarios to enterprise operation scenarios and completed the implementation of a multi - scenario AI ecological closed - loop.

Today's Views:

Musk expects self-driving cars to be widely used in the US this year

Elon Musk said on Monday that he expects self-driving cars that do not require human drivers to become more prevalent in the United States later this year. When speaking via video link at the "Smart Mobility Summit" held in Tel Aviv, Musk said that driverless cars are already operating without safety monitors in three cities in Texas, and added that this model will be extended across the United States this year. (Sina Finance)

Other news worthy of attention:

The total box office of movies in 2026 has exceeded 14.5 billion yuan

According to data from ticketing platforms, as of this afternoon, the box office of movies in 2026 has exceeded 14.5 billion yuan. The long - tail effect of new movies during the May Day holiday continues to be released. Among them, "Love Letter to Grandma" has topped the daily box office for nine consecutive days. (CCTV News)

Trump: Should Have Demanded More Shares in Intel

US President Donald Trump said in a magazine interview published on Monday that he should have demanded more shares in Intel on behalf of the US government. The Trump administration held a 10% stake in Intel last year and announced an investment of about $10 billion in the chipmaker to build or expand factories in the United States. Eight months after the deal was completed, the market value of the US government's stake in Intel had exceeded $50 billion. (Sina Finance)

National Medical Products Administration: 318 medical device products were approved for registration in China in April

It was learned from the National Medical Products Administration today that a total of 318 medical device products were approved for registration in China in April. Among them, there were 272 domestic Class III medical device products, 20 imported Class III medical device products, and 26 imported Class II medical device products. (CCTV News)