8点1氪丨SpaceX fell below its IPO first-day closing price, with its market value evaporating by 400 billion U.S. dollars; British Prime Minister Keir Starmer announced his resignation; SK Hynix's market value surpassed that of Samsung Electronics for the first time.
Today's Hotspot Guide
Samsung Electronics Opens ChatGPT and Codex to All Employees in South Korea
The stock of Zhipu in the Hong Kong stock market soars, with the total market value exceeding HK$1 trillion
He Xiaopeng, Zeng Shunfu, and Bai Chong'en Serve as Independent Directors of Ant Group
Yang Zi Resigns from His Position at Juli Group
Supply Chain Company: Has Supplied the First Foldable iPhone of Apple in Small Quantities
Top 3 Big News
The Nasdaq closed down 1.3%, and SpaceX tumbled 16% and fell below its IPO first-day closing price
The three major U.S. stock indexes closed mixed. The Dow rose 0.29%, the Nasdaq fell 1.32%, and the S&P 500 index fell 0.37%. SpaceX's stock price plunged 16%, with its market value evaporating $400 billion and falling below the first-day closing price.
Alphabet closed down 5% after its AI leader, Jumper, left the company. Amazon fell 4.8%, its biggest single-day decline since early February. Chip stocks were mixed. Micron Technology rose more than 6%, Intel rose more than 5%, SanDisk rose more than 4%, Applied Materials and NXP rose more than 2%, ARM fell more than 7%, Broadcom fell more than 4%, and Qualcomm and Western Digital fell more than 1%.
It is reported that since its listing, SpaceX's stock price has tumbled for three consecutive trading days, with a cumulative decline of 27%, and its market value has fallen below the closing level on the first day of listing. Previously, its market value once approached $3 trillion, surpassing Amazon and Microsoft. Despite the stock price correction, it still has a gain of about 30% compared with the issue price. The company recently disclosed that it will issue bonds to raise funds. (Jiemian News, IT Home)
UK Prime Minister Starmer Announces Resignation
On June 22 local time, UK Prime Minister Starmer announced his resignation. Starmer delivered a speech in front of 10 Downing Street, saying that he would step down as the leader of the UK Labour Party, but he would continue to serve as the UK Prime Minister until a successor is elected.
Starmer said that the question the UK Labour Party is considering is whether he is the best candidate to lead the party in the next election. He said he has "heard" the "response" from his party on this issue and "gladly accepts" it. (CCTV News)
SK Hynix's market value surpasses Samsung Electronics for the first time, and the champion of South Korea's stock market market value changes hands after 25 years and 7 months
On the 22nd local time, SK Hynix, a South Korean semiconductor giant, surpassed Samsung Electronics in total market value and became the stock with the highest market value on the South Korea Composite Stock Price Index (KOSPI). This is the first time in 25 years and 7 months that the champion of South Korea's stock market market value has changed hands.
According to the Korea Exchange, as of the close on the 22nd, SK Hynix's total market value reached 207.96655 trillion won (about 9.2 trillion yuan), about 1.88523 trillion won higher than that of Samsung Electronics.
According to Yonhap News Agency, since Samsung Electronics first topped South Korea's stock market on July 29, 1999, its ranking has fluctuated briefly. However, since November 21, 2000, Samsung Electronics has remained at the top of South Korea's stock market market value for 25 years. Since the beginning of this year, Samsung Electronics' stock price has risen by 197.7%, while SK Hynix's stock price has soared by 341.9%. (China News Service)
The forefront of AI
Samsung Electronics Opens ChatGPT and Codex to All Employees in South Korea
OpenAI announced that Samsung Electronics is deploying ChatGPT Enterprise and Codex to its employees globally to accelerate the company's internal adoption of AI. Under the agreement, ChatGPT and Codex will be provided to all Samsung Electronics employees in South Korea and all employees in the Device eXperience (DX) division worldwide. This is one of OpenAI's largest enterprise-level deployments to date. Samsung Electronics will fully utilize ChatGPT and Codex in its operations, covering research and development, manufacturing, marketing, corporate functions, and other business areas. (Cailian Press)
NVIDIA's Latest Post Details Rubin's Comprehensive Liquid Cooling Technology
On June 21 local time, NVIDIA's official blog published an article that details the comprehensive liquid cooling technology used in the upcoming mass - produced Rubin platform and the "one of the most important energy - efficiency breakthroughs in the history of data centers" it brings. Rubin is the world's first AI computing platform to achieve 100% liquid cooling. Comprehensive liquid cooling can help AI data centers significantly reduce energy consumption, thus significantly reducing the overall energy consumption in ultra - large - scale deployment scenarios. NVIDIA said that since the NVIDIA Rubin platform uses comprehensive liquid cooling, all cloud service providers and data center operators building systems for this platform are promoting relevant transformations. (Caixin Press)
Microsoft Reintroduces Mandatory Installation Policy for AI Assistant Copilot
Some users have reported that even if they don't actively use it, the Microsoft 365 Copilot component will quietly reappear in their office suites. Microsoft confirmed in an update to its management backend that the Microsoft 365 Copilot app will be automatically installed on eligible Windows computers with the Microsoft 365 desktop app installed. The company said that if administrators don't want Microsoft 365 Copilot to appear automatically on devices within their organization, they need to "opt out." (Caixin)
Large Companies/Notable Events
Zhipu's Hong Kong shares skyrocketed, with a total market value exceeding HK$1 trillion
On June 22, Zhipu (02513.HK), known as "the first stock of global large models" in the Hong Kong stock market, experienced an extreme market trend again.
Market data shows that in the early trading session, Zhipu's intraday gain once widened to 42.31%, with the share price reaching a maximum of HK$2,980, and its total market value exceeding the HK$1 trillion mark. As of the close, Zhipu significantly gave back its gains, but the intraday gain still reached 15%, with the share price standing at HK$2,400, and the total market value remaining above HK$1 trillion. (21st Century Business Herald)
Former Federal Reserve Chairman Alan Greenspan Dies at 100
U.S. media reported on June 22 that Alan Greenspan, the former chairman of the Federal Reserve, passed away at the age of 100. Alan Greenspan was born in New York, the United States on March 6, 1926. He was a Jewish - American economist and held a bachelor's and a master's degree in economics from New York University. He served as the chairman of the Federal Reserve from 1987 to 2006, going through six U.S. administrations. Due to his significant influence on U.S. economic policies, he was known as the "Economic Czar" and the "President of the Dollar." He was awarded the title of Knight of the United Kingdom and the Legion of Honor of France.
During his tenure as the Federal Reserve chairman, Greenspan dealt with the "Black Monday" stock market crash in 1987. In 1996, he put forward the concept of "irrational exuberance," which triggered market fluctuations. In 1998, he led the interest - rate cuts to deal with the Asian financial crisis. In 2001, he promoted tax cuts and implemented interest - rate cuts to stimulate the economy. In 2005, he insisted that there was no housing bubble in the United States. This statement was regarded as a case of policy failure after the subprime mortgage crisis. (CCTV International News)
Dettol Issues an Apology Statement for Offending Women in a Video
Dettol's official Weibo account issued a statement letter: To all consumers and media friends. Recently, multiple video clips of Dettol have appeared on the Internet, sparking heated discussions among netizens. After investigation, the video was created by a third - party influencer for the Dettol brand. Through a narrative method of plot reversal, it tells that people should break the unequal gender concept and advocate a healthy and confident view of love and lifestyle. The video was first released on May 24. After that, multiple video clips appeared on the Internet one after another, splicing and intercepting parts of the original video, distorting the original intention of the video and causing controversy. We immediately ordered the video to be taken down.
Although the original intention of the video design was to criticize gender - biased plots, it made many people, especially female friends, feel offended. We cannot shirk the responsibility for the content expression defects and the failure in review, and we sincerely apologize.
Dettol was born in a hospital. For more than 90 years, it has taken "protecting family health" as its mission. We deeply understand that true protection is not only about health, but also about protecting everyone's dignity and the right to be treated equally. We will rebuild the content review mechanism and rectify content operations to avoid such problems from happening again. (Jiupai News)
Taobao Flash Sale Launches New Business "Home Banquet" in Partnership with Michelin-Starred Restaurants
36Kr exclusively learned that Taobao Flash Sale recently launched a high-end takeaway project called "Home Banquet" in Chengdu and Shenzhen. It is currently in the gray testing phase. The first batch of participating brands includes five leading Chinese cuisine brands: Chao Shang Chao (three Michelin stars), Xu's Cuisine (one Michelin star), Chaimenhui (one Michelin star), Zinan, and Wangba Courtyard, with a total of nine stores.
He Xiaopeng, Zeng Shunfu, and Bai Chong'en Appointed as Independent Directors of Ant Group
On June 22, information on Ant Group's official website showed that the new - term board of directors has completed the reshuffle: Bai Chong'en, Dean of the School of Economics and Management at Tsinghua University, He Xiaopeng, Chairman and CEO of XPeng Motors, and Zeng Shunfu, former CEO of Deloitte China, have been appointed as new independent directors; Shi Meilun, former Chairperson of the Hong Kong Stock Exchange, and Zhang Hongjiang, a globally renowned AI scholar, will continue to serve. After the reshuffle, Ant Group's board of directors will still consist of nine members, with independent directors accounting for more than 50%. (Daily Economic News)
Lei Jun Responds to the Billion - Yuan Bet with Dong Mingzhu: I Shouldn't Have Made This Joke Back Then
At the "Special Session of the Ambassador's Living Room" of the 32nd Beijing International Book Fair, Lei Jun, the founder of Xiaomi, voluntarily brought up the billion - yuan bet he made with Dong Mingzhu in 2013. "In 2013, I participated in an event on CCTV. I made a bet with Sister Dong, Dong Mingzhu from Gree. It was just a bet, just a joke at first. But later it became troublesome because Sister Dong took it seriously. The consequence of her taking it seriously was quite serious. Sister Dong said some really unpleasant things on many occasions, and I won't repeat them here. Later, Sister Dong even said she was going to make mobile phones. Under such circumstances, we were under a lot of pressure, so we later started making air conditioners."
Lei Jun said, "Looking back today, I think I shouldn't have made this joke with Sister Dong back then." (Jiemian News)
Four departments to investigate diaper issues reported by the media, and relevant information will be announced in a timely manner
In response to the "formamide issue in infant diapers" reported by the media, the State Administration for Market Regulation, the Ministry of Industry and Information Technology, the National Health Commission, and the National Disease Control and Prevention Administration attach great importance to it. They have established a joint investigation team to investigate issues related to formamide in infant diapers and handle them in accordance with laws and regulations. Relevant information will be announced in a timely manner. (CCTV News)
Apple's Closure of Three Apple Stores in the US Sparks Controversy, with Some Store Employees Facing "Differential Treatment"
Apple has announced the official closure of three Apple Store retail stores in the US market. The three stores are Apple Trumbull, Apple North County, and Apple Towson Town Center. The reason for the closure is "the continuous decline in the overall mall footfall and business environment."
Among them, the closure plan of the store located at Towson Town Center has attracted significant external attention. This store is "the first successfully unionized direct - operated Apple store in the US." The employees joined IAM CORE under the International Association of Machinists and Aerospace Workers in 2022 and signed a collective bargaining agreement with Apple in 2024.
In this store - closure incident, Apple allows employees from the other two non - union stores to transfer to nearby stores to continue working. However, the union employees at the Towson store cannot receive the same treatment and can only receive severance pay according to the contract.
In response, Apple stated that "this is strictly implemented in accordance with the collective agreement signed by both parties": If Apple opens a new store within 50 miles of Towson in the next 18 months, these employees will have priority in recruitment; if there is no new store, severance compensation will be paid according to the agreement. (IT Home)
SpaceX's bond issuance is expected to raise at least $20 billion
SpaceX has announced its first - ever bond issuance, shifting the stage of its capital - market debut to the bond market. The rocket manufacturer has just raised more than $85 billion through its initial public offering (IPO). This time, it is expected to issue bonds worth at least $20 billion to repay a bridge loan obtained from the banking industry earlier this year. Any over - raised funds will be used for "general corporate purposes." (Sina Finance)
Yang Zi Resigns from His Position at Juli Group
36Kr learned that Tianyancha App shows that recently, industrial and commercial changes have taken place in Juli Group Co., Ltd. Yang Jianzhong has stepped down as general manager and chairman, and Yang Zi has resigned as vice - chairman. Yang Jianzhong will serve as the manager, and at the same time, many key personnel have changed. The company was established in March 1997 with a registered capital of 365 million RMB. Its business scope includes investment in manufacturing, construction, transportation, commerce, real estate, culture and entertainment, accommodation and catering, and technology R & D, as well as their asset management. Yang Jianzhong and Yang Zi hold 83% and 17% of the shares respectively.
High demand for front - line talents, securities brokerage branches facing a "talent shortage"
The continuous active trading in the A - share market has also driven a strong demand for wealth management talents in securities brokerages. Since the beginning of this year, many branches of securities brokerages have intensively released recruitment plans, and the demand for front - line business positions such as account managers, investment advisors, and private wealth directors has been concentratedly released. However, in the face of the talent gap in the branches, the recruitment progress is still slow. The recruitment announcements of some securities brokerage branches have been posted for several months, but they still haven't found suitable candidates. Especially in non - core cities far from financial centers, the problem of "difficulty in recruiting" is particularly prominent. The interviewed securities brokerages said that they have started to explore long - term training mechanisms. For example, through school - enterprise cooperation, clarifying career development paths, and implementing management trainee programs, they encourage relevant regions to build a suitable talent training system based on their own characteristics, and strive to solve the dilemma of "difficulty in recruiting and retaining talents" in branches, especially regional outlets. (Securities Times)
TSMC Cuts 28nm Production by 25% Compared to the Beginning of the Year
According to reports, supply chain sources have pointed out that the monthly wafer input volume at Fab 15A, TSMC's main 28nm production base, has dropped from 200,000 wafers at the beginning of this year to 150,000 wafers, a decrease of more than 25% compared to the beginning of the year. TSMC plans to allocate more 28nm production capacity to support the middle layer and gradually withdraw from low-margin orders. (Sina Finance)
SpaceX Receives Investment-Grade Ratings from Three Major Rating Agencies with a "Stable" Outlook
SpaceX, under Elon Musk, recently received investment-grade credit ratings from Moody's, Fitch, and S&P Global Ratings. After the company's highly anticipated initial public offering (IPO), all three rating agencies consider its outlook "stable." This consensus indicates widespread confidence in SpaceX's financial stability as the company is advancing a costly and ambitious artificial intelligence (AI) plan in a highly competitive market. (Sina Finance)
Bank of China: Starting from the closing settlement on June 24th, the margin ratio multiplier for the gold forward contract will be adjusted from 666% to 800%.
36Kr learned that the Bank of China has issued an "Announcement on Adjusting Business Parameters of Some Forward Contracts in the Agency Business for Individual Clients on the Shanghai Gold Exchange". In accordance with the requirements of precious metals risk management and business needs, the Bank of China will adjust the trading margin ratios for the agency business for individual clients on the Shanghai Gold Exchange (including silver forward contracts and gold forward contracts). The details are as follows: 1. Starting from the closing settlement on Wednesday, June 24, 2026, the margin ratio multiplier for the Bank of China's gold forward contracts will be adjusted from 666% to 800%. As a result, the client margin ratio for the Bank of China's gold forward contracts will be adjusted from 99.9% to 120%. 2. Starting from the closing settlement on Wednesday, June 24, 2026, the margin ratio multiplier for the Bank of China's silver forward contracts will be adjusted from 476% to 571%. As a result, the client margin ratio for the Bank of China's silver forward contracts will be adjusted from 99.96% to 119.91%.
South Korea Considers Separate Measures for Samsung and SK Hynix Leveraged ETFs
Lee Chan - jin, the head of South Korea's Financial Supervisory Service, said that as there is no sign of a slowdown in retail investors' demand for high - risk products, financial regulatory authorities are considering separate stability measures for individual stock leveraged ETFs. Lee said at a press conference on Monday that the side effects of individual stock leveraged ETFs are intensifying. Lee also said that the Financial Supervisory Service is investigating the failed stock allocation of Future Asset's SpaceX IPO, aiming to prevent similar problems from happening again and protect investors' rights and interests. (Caixin)
Supply chain company: Has supplied the first foldable iPhone of Apple in small batches
Recently, it was learned from an Apple supply chain company that the company has started to supply the first foldable iPhone in small batches recently. According to the target guidance received by the company, this product will be released in September. Recently, there were reports that the release of Apple's first foldable iPhone has been postponed from the original autumn of 2026 to the beginning of 2027. In response, a person from an Apple supply chain company said that as of now, the target guidance he has received is that the first foldable iPhone will be released in the autumn of 2026. As of the time of the reporter's press release, Apple has not made a public response regarding the specific release time of the first foldable iPhone. (China Securities Journal)
Malaysia to Lower Subsidized Diesel Prices
Malaysian Prime Minister Anwar Ibrahim said that the government will lower the price of subsidized diesel starting next month, adding that this is based on the progress made in high - level negotiations between the United States and Iran. According to reports, Anwar said on Sunday local time, "I am announcing the implementation of targeted diesel subsidies, not to increase prices, but to lower the price of diesel, despite the ongoing uncertainties in the current situation." (Caixin Press)
Sweden to Build Reactors Again After More Than 40 Years, Nuclear Power in Nordic Countries Ushering in a Revival Wave
Vattenfall, Sweden's largest power company, recently announced that it has selected Rolls-Royce of the UK to build three small modular reactors in southwestern Sweden. Sweden will build nuclear reactors again after more than 40 years. Since this Nordic country decided to phase out nuclear power in 1980, it has shut down half of its existing 12 nuclear reactors, but the current government is encouraging the development of nuclear power again. In recent years, Nordic countries including Sweden have faced shocks to the energy supply chain. There has been a revival wave of nuclear power development in the pursuit of stable and clean power sources. (Xinhua News Agency)
Going Public
Hanyu Pharmaceutical: The marketing application for the chemical raw material of linaclotide by its wholly-owned subsidiary has been approved
36Kr learned that Hanyu Pharmaceutical announced that its wholly-owned subsidiary, Hanyu Pharmaceutical (Wuhan) Co., Ltd., received the "Notice of Approval for the Marketing Application of Chemical Raw Materials" for linaclotide issued by the National Medical Products Administration. The indications of this drug are adult chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C).
Dingdingpai (Shenzhen) Technology Co., Ltd. Submits Listing Application to the Hong Kong Stock Exchange
36Kr learned that according to documents from the Hong Kong Stock Exchange, Dingdingpai (Shenzhen) Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CEB International as the sole sponsor.
Taihe Music Group Submits Listing Application to Hong Kong Stock Exchange
36Kr learned that documents from the Hong Kong Stock Exchange show that Taihe Music Group has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are Deutsche Bank and CSC International.
Investment and Financing
Yuanxin Satellite, the entity responsible for the construction and operation of the "Thousand Sails Constellation", initiates a new round of financing
Shanghai Yuanxin Satellite Technology Co., Ltd. (hereinafter referred to as "Yuanxin Satellite"), which is known as the Chinese version of SpaceX and is the entity responsible for the construction and operation of the large-scale low-orbit satellite internet constellation "Thousand Sails Constellation", has initiated a new round of financing. According to the disclosed information, the net amount to be raised in this round of financing by Yuanxin Satellite "depends on the market fundraising situation", and the disclosure period is from June 22nd to July 17th; the proportion of shares corresponding to the funds to be raised does not exceed 20%; the number of new investors to be added does not exceed 3. It is reported that the original shareholders of Yuanxin Satellite will participate in this capital increase; the raised funds will be mainly used for the construction of the satellite constellation project, technological R & D, market development, and the company's daily operating expenses, etc. In accordance with relevant requirements, investors should be enterprise legal persons or other economic organizations legally registered and effectively existing within the territory of China (excluding Hong Kong, Macao, and Taiwan regions); a consortium is regarded as one investor, and the total investment amount of the intended investors/consortium should be no less than 5 billion yuan. (Securities Times)
Sand.ai Completes Two Rounds of Financing Totaling Over $100 Million
36Kr learned that Sand.ai recently completed two rounds of financing totaling over $100 million. The investors include leading institutions such as Look Capital, Lollapalooza Capital (the family office of Wang Huiwen), Jiukun Venture Capital, Matrix Partners China, MSA Capital, Sinovation Ventures, Xianghe Capital, Source Code Capital, Zhongke Chuangxing, Hongtai Fund, Capital Today, Huaye Tiancheng, Yunhui Capital, IDG, and Baidu Ventures. Xinghan Capital served as the financial advisor for this round of financing.
Cool Products
Appearance of the Standard iPhone 18 Revealed: Adopting a Large Matrix Module, Resembling the Dual - Camera 17 Pro
On June 22nd, a blogger shared the exterior design of the iPhone 18. The most significant change is that it uses the same horizontal large - matrix DECO as the Pro version. However, the iPhone 18 still only comes with two cameras, the main camera and the ultra - wide - angle camera, and does not feature a periscope telephoto lens. In Apple's product strategy, the periscope telephoto lens has always been an exclusive feature of the Pro models.
In addition, there is a major adjustment in the release schedule of the iPhone 18 series. Apple will break the long - standing tradition of releasing all models in the fall. It will first launch the Pro, Pro Max, and the first foldable screen in the fall of 2026, while the standard version will be postponed to the spring of 2027. (Kuaikeji)
Standard iPhone 18
Gurman Reveals Apple's Product Lineup from 2026 to 2027: Foldable iPhone Sequel, AirPods with Cameras, and Smart Glasses to Be Launched
Technology journalist Mark Gurman wrote that Apple's product lineup in the next two years will be the most intensive in its history. In the fall of 2026, Apple is expected to launch the iPhone 18 Pro, Pro Max, and a foldable iPhone (which Gurman calls the "iPhone Ultra"), as well as the Apple Watch Series 12 and Ultra 4. Additionally, it includes multiple Mac models, a new entry - level iPad with Apple Intelligence support, and possibly a smart home hub, an iPad mini with an OLED screen, a new Apple TV, and a HomePod mini.
The year 2027 will center around the 20th anniversary of the iPhone. In the spring, the second - generation iPhone Air will be launched (addressing the camera shortcomings and improving battery life). In the fall, the iPhone 20 Pro and Pro Max, the second - generation foldable phone, new AirPods equipped with cameras to support Siri AI, and Apple's first smart glasses will be released. The latter was originally scheduled to be launched at the end of this year but has now been postponed to the end of 2027. Around 2027 - 2028, a desktop robot with a robotic arm and an upgraded Vision headset will also be introduced. (Jiemian News)
Compiled | Yuting He