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Today's Hotspot Guide

• Elon Musk announced that Grok 4.5 has started internal private testing at SpaceX and Tesla, and its performance may surpass Claude Opus.
• Midea responds to the crazy rush for its air - conditioning products in Europe.
• NIO responds to the issue of car paint being washed off during car washing: improper operation of high - pressure water guns.
• Rock Records pursues liability against Marriott Sheraton over the death of Tu Ying.
• Baidu's Kunlun Chip plans to go public in Hong Kong.

TOP 3 Big News

Samsung, SK Hynix, and Micron Face Class - Action Lawsuit for Alleged Memory Price Manipulation

As the global memory shortage crisis intensifies, local consumers and small businesses in the United States have taken legal action. It is reported that the world's three largest memory suppliers - Samsung, SK Hynix, and Micron - have faced a class - action lawsuit for allegedly manipulating memory prices and restricting global supply. The lawsuit was filed on June 25th in the federal court of California, the United States. The complaint states that these three companies almost control the entire supply of the global DRAM (Dynamic Random Access Memory) market, yet they restricted the supply of traditional DRAM products during the period of significant price increases, further exacerbating the current memory shortage crisis. Notably, just a few days ago, Apple became the latest tech company to raise the prices of some of its products due to the rising cost of storage chips. In addition, many mobile phone manufacturers have also increased their prices. (Caixin)

South Korea Launches Its Largest - Ever Industrial Investment Plan

On June 29, the South Korean government announced its largest - ever investment plan for the semiconductor and artificial intelligence industries. The total investment scale exceeds $576 billion, positioning semiconductors, physical AI, and AI data centers as the "triangular pillars" for South Korea's industrial upgrade. The leaders of Samsung Electronics and SK Hynix attended the statement press conference together with Lee Jae - myeong. Lee Jae - myeong said that Samsung and SK Hynix will jointly invest 800 trillion won (approximately $517.87 billion) with suppliers to build two new chip manufacturing bases each in the south - western region of South Korea. The goal of this plan is to double the DRAM production capacity within five years. Cities in the south - western region of South Korea will also invest 5 to 20 trillion won in these projects. In addition, it is estimated that 81 trillion won will be used to build a chip packaging cluster in Chungcheong region near Seoul. At the "Report Meeting on South Korea's Three Major Super Projects", Lee Jae - myeong bowed 90 degrees to the chairman of Samsung Electronics and the chairman of SK Group, thanking them for their huge investment plans. He also called them "national heroes" and said that they had made difficult choices. (Caixin.com, The Beijing News)

Hello Bike Responds to the Issue of Paying 30 Yuan for a 79 - minute Ride

Recently, Mr. Wu, a Shanghai resident, reported that he scanned a blue Hello bike in the Qiantan area of Pudong. After a 79 - minute ride, the bill showed that he needed to pay 30 yuan. His son rode a "Little Yellow Bike" for the same amount of time and only paid 6.5 yuan. Mr. Wu found through inquiry that the bike he rode was a Hello "Chaser" shared variable - speed bike. The first 30 minutes cost 15 yuan, and after that, it was 7.5 yuan for every 30 minutes. Mr. Wu said that there was no price - indication sign on the bike, and he mistakenly thought the charging standard was the same as other bikes. In response, a Hello customer service staff member said that since the Chaser uses high - end configurations and intelligent technology, the cost is relatively high, so the riding fee is more expensive than that of regular shared bikes. The customer service also reminded: "The pricing of different bike models will be displayed in the system in advance. It is recommended that users check the price information before riding to avoid accidentally riding high - priced bikes." (Youth Daily)

The Cutting - edge of AI

Elon Musk Announces Grok 4.5 Enters Private Testing within SpaceX and Tesla, Performance May Surpass Claude Opus

On June 28 local time, Elon Musk posted that the latest generation of his large language model, Grok 4.5, has officially entered private testing within SpaceX and Tesla. According to Musk, Grok 4.5 is built on the V9 base model with 1.5 trillion parameters, and data from the popular AI programming tool Cursor has been specifically added during supplementary training. Early evaluation results show that the performance of this model has approached, and may even surpass, Anthropic's flagship model, Claude Opus. Currently, reinforcement learning (RL) is still continuously and significantly optimizing the model, and its supporting "GrokBuild" test benchmark is also being gradually improved. In addition, Musk also said that SpaceX will release new models trained from scratch every month for the rest of this year. (Jiemian News)

DeepSeek V4 Official Version Announced to Launch in July, Introducing Peak-Valley Pricing Mechanism

36Kr learned that the DeepSeek team announced that the official version of DeepSeek V4 is planned to be officially launched in mid-July. This version update will bring more feature optimizations and performance improvements. Meanwhile, in order to allocate resources more reasonably and enhance service stability, the API pricing strategy will be adjusted synchronously after the release of the official version, introducing a peak-valley pricing mechanism. The API price during peak hours will be twice the normal price. The peak hours are from 9:00 a.m. to 12:00 p.m. and from 2:00 p.m. to 6:00 p.m. every day.

Baidu's OCR model Unlimited OCR tops four charts on HuggingFace and GitHub

36Kr learned that recently, Baidu officially released and open - sourced the end - to - end OCR model Unlimited OCR. On the day after the model's release, it topped the GitHub Daily Trending list and the Python list. It also ranked first on the global model overall trend list and the multimodal model trend list on HuggingFace. Unlimited OCR is designed for long - document parsing scenarios, with a total parameter scale of 3B and only about 570M active parameters during inference. Public evaluation results show that Unlimited OCR achieved a comprehensive score of 93.92% in the OmniDocBench v1.6 benchmark test, setting a new record for end - to - end OCR.

Google's computing power is in short supply, restricting Meta's use of its large AI model Gemini

Google has begun to restrict Meta, the parent company of Facebook, from using its large AI model Gemini because Meta's computing power requirements have exceeded Google's current carrying capacity. The limited supply has directly disrupted the progress of several internal AI projects at Meta, and related R & D work has been forced to be postponed. Reports say that Google's move intuitively exposes that the supply of computing power remains the core bottleneck in the development of the AI industry. Even though Google continues to increase its investment in AI infrastructure, it still cannot ensure that there is enough computing power to meet the surging market demand. (Cailian Press)

Doubao Responds to Rumors of "Testing Social Function in Closed Beta"

Recently, there have been rumors that Doubao, a large model under ByteDance, is testing social functions in closed beta. On June 29, a relevant person in charge of Doubao replied to reporters that in the corporate office scenario, Doubao has made some attempts at collaboration with Feishu, and the cooperation will be closer in the future. However, Doubao has no plans for the social functions mentioned in the rumors. (The Paper)

Big Companies/Big Events

Midea Responds to the Crazy Rush for Its Air - Conditioners in Europe

Recently, as the European continent has been hit by an unprecedented extreme heatwave, the local air - conditioner market has witnessed a sales boom. The PortaSplit portable split - type air - conditioner produced by Midea Group, a Chinese home appliance enterprise, has become a "hot item" in the European market. Facing the extremely popular situation where the product is in short supply, Midea Group responded to the media today, saying, "The heatwave has significantly boosted sales, especially for the PortaSplit air - conditioner, which has been sold out in some sales channels."

A large number of European users on social platforms have shared their experiences of the rush to buy. Some German consumers reported that all Midea PortaSplit air - conditioners in offline stores within a radius of 100 kilometers were sold out. Some technology enthusiasts even specifically built a real - time inventory query website covering more than 1,100 chain stores across Germany. The results showed that only 1 out of 1,171 stores had the product in stock. The website even launched a paid subscription service for arrival alerts at 2.49 euros per month. Some European netizens spent two days searching across the EU to buy a Chinese air - conditioner. One of them said, "I had to travel 200 kilometers to get the last one, and the price had increased by 100 euros." (Jiemian News)

Costco Fined for Promoting Non-Fresh Milk as Fresh Milk

The website of the Shanghai Municipal Administration for Market Regulation shows that recently, Costco (China) Investment Co., Ltd. was fined 25,500 yuan by the Shanghai Municipal Administration for Market Regulation for using advertisements to make false propaganda about goods or services, deceiving and misleading consumers. The administrative penalty decision shows that on March 13, 2026, in order to promote Kirkland milk, the party concerned released the involved advertisement through its self - operated WeChat official account "Costco". The involved advertisement used expressions such as "The new family member, Kirkland fresh milk" and "To what extent has the raw milk of Kirkland fresh milk achieved in terms of raw milk indicators? It can be said that the indicators that reflect the hygiene status of the ranch, the quality of cold - chain transportation, the health of dairy cows, and the cleanliness of milk are controlled more strictly than the EU requirements." According to the "National Food Safety Standard Pasteurized Milk" (GB19645 - 2010) and the implementation standard marked on Kirkland milk, Kirkland milk is not produced by the pasteurization process and cannot be labeled as fresh milk. (China News Service)

US Supreme Court Rules Fed Governor Cook to Remain in Office

The US Supreme Court issued a ruling on the 29th, rejecting the request of the federal government, allowing Lisa Cook, a governor of the Federal Reserve, to remain in office. (Xinhua)

Nearly 20 semiconductor companies kick off a new round of price hikes

Nearly 20 global analog and power semiconductor companies are about to launch a new round of price increases on July 1st. There have been multiple batches of stepped price adjustments this year. Many manufacturers said that their current backlogs of orders are full, and the visibility of production capacity has been significantly improved.

Analysis shows that the core driving force for this round of price hikes stems from the cost pressure brought by the price increases of wafer foundry and raw materials, which resonates with the surge in demand for power chips driven by the construction of AI data centers. The market share will be concentrated in leading chip companies that have IDM full - chain capabilities, are deeply bound to upstream suppliers, and are involved in high - growth sectors. (21st Century Business Herald)

NIO Responds to Paint Peeling off during Car Wash: Improper Operation of High-Pressure Water Gun

On June 29th, in response to the recent feedback from a car owner regarding the paint problem of the NIO ES9 caused by being washed at close range with a high-pressure water gun, NIO's official rumor - debunking Weibo account "NIO Little Trumpet" issued a "Small Reminder about Car Washing with High-Pressure Water Gun", stating, "We attach great importance to this issue. We have contacted the car owner and had in - depth communication with them. We have also provided comprehensive and professional on - site explanations regarding the relevant situation."

NIO pointed out that when the high - pressure cleaning equipment operates beyond the original factory - specified working conditions, its jet power is sufficient to cause irreversible damage to the car paint. NIO also stated that the safety operation specifications for high - pressure cleaning are clearly stated in the "User Manual" of the NIO ES9: It is recommended to keep the jet distance at over 500mm, control the pressure below 100 bar, with a maximum temperature of 60°C, and try to make the water jet perpendicular to the car surface during washing. (Reported by National Business Daily)

Dalian Wanda Group Ordered to Pay 1.747 Billion Yuan to Suning.com

On June 29, ST Suning (002024.SZ) announced that the Nanjing Intermediate People's Court had issued a first-instance judgment in the contract dispute case between the company and its subsidiary Suning International against Dalian Wanda Group Co., Ltd. The court ordered Wanda Group to pay the remaining funds and losses arising from late payment. The judgment shows that Wanda Group shall pay the remaining funds of 1.747 billion yuan to Suning.com within ten days from the date the judgment takes effect, and pay the losses for late payment from February 26, 2024, to February 13, 2026 (calculated at 1.5 times the one-year LPR). (Caixin)

Dark Side of the Moon Statement: No Third-Party Authorized to Handle Financing Transactions

36氪 has learned that Dark Side of the Moon issued a solemn statement today, stating that multiple pieces of false information regarding financing and equity transactions have recently been spread on the market in the name of the company. Some institutions and individuals are suspected of fraud. Dark Side of the Moon stated that all financing activities are directly undertaken by the company itself. The company has never appointed or authorized any third-party institutions to act as financial advisers or financing advisers to handle any financing transactions, including new share transactions and old share transfer transactions. The transfer of the company's old shares (including common shares, incentive equity, etc.) must be approved through internal procedures before it can be implemented. All unapproved old share transactions are invalid. The company will refuse to handle any form of rights confirmation registration, and reserves the right to take all legal measures to hold the transferor liable for breach of contract.

Reports: Two Tech Executives from Kuaishou's Social Science Line Transferred to Keling Division, Possibly Preparing for IPO

Market sources reported that there has been a personnel adjustment in Kuaishou's Community Science line. Two core tech executives, Li Han and Hong Liyin, have completed their position transfers and officially joined the Keling AI Division, which is led by Gai Kun, a senior vice president of Kuaishou. The simultaneous transfer of these two tech leaders directly enhances Keling's technical strength in areas such as underlying large - scale models, video generation, and commercial algorithms. Industry analysts believe that the transfer of these two key figures in the fields of recommendation and e - commerce algorithms is a crucial move to strengthen Keling's technical foundation for its push into the capital market. As of now, Kuaishou has not responded to these reports. (Sina Tech)

Rock Records Seeks Accountability from Marriott Sheraton over Tu Ying's Death

On June 29, Rock Records issued a joint statement regarding the unfortunate incident of Tu Ying. It called on the Marriott Group to publicly apologize for the death of well - known musician Tu Ying, which occurred in November last year. The declarants of this statement also include Tu Ying's family members, Feng Lingyi and Tu Heng, and Xingtong Huanyu Culture Development (Beijing) Co., Ltd. The joint statement said that they were disappointed with the mistakes and deficiencies of Yuexiu Four Points by Sheraton Hotel under the Marriott Group during the accident and the first - aid process, as well as the irresponsible attitude after the accident. The statement pointed out seven major negligence issues of the hotel, such as the lack of good cushioning on the gym floor, the absence of AED equipment, and the fact that the first hotel staff member to arrive at the scene of the incident was an intern. On June 29, a reporter called the involved hotel. The staff told Jiemian News that they were not convenient to disclose information about this matter, saying, "We don't know much about a lot of information either," and suggested that the reporter send an email to communicate with the hotel management team. (Jiemian News)

DJI Debunks Rumor of "Raising Prices of All Products"

Recently, there have been rumors that DJI will adjust the prices of all its products starting from July 15, 2026, with an increase of 3% - 8%. In response to this statement, DJI replied to a journalist from Lanjing Technology on June 28, stating that the news is untrue and purely a rumor. Currently, DJI's official guide prices remain stable, and there is no plan to adjust the prices of all products as rumored on the Internet. Earlier on the same day, a screenshot of a "Notice on Price Adjustment of DJI's All Products" appeared on social platforms. The screenshot shows that due to the increase in global supply - chain costs, core components, and logistics expenses, DJI plans to raise prices. Among them, the price of the standard package of Osmo Pocket 3 will increase from 2,299 yuan to 2,399 yuan; the price of the standard package of Osmo Pocket 4 will increase from 2,999 yuan to 3,299 yuan; the price of the standard package of Osmo Pocket 4P will increase from 3,799 yuan to 3,999 yuan. (Lanjing News)

Controversy Erupts over "Floor-by-Floor Air Conditioning" at the European Commission Headquarters

Recently, as a heatwave swept across Europe, the European Commission headquarters in Brussels, Belgium, has sparked controversy for "providing a cool working environment only for top - level officials such as European Commission President Ursula von der Leyen". The Berlaymont Building, the headquarters of the European Commission, has a total of 13 floors. Von der Leyen's office is on the 13th floor, and the offices of most European commissioners and senior officials are on the 8th floor and above, while the areas from the 1st to the 7th floors are for other staff. Affected by the extreme high - temperature weather, the power supply system of the Berlaymont Building was overloaded, and the air - conditioning on some floors had to be turned off. At noon on the 26th, the staff inside the building received an urgent text message notifying them that the air - conditioning on the 1st to 7th floors would be forcibly turned off for the rest of the day, while the 8th floor and above would remain in normal operation. This move immediately triggered strong dissatisfaction among the staff on the lower floors, who accused it of being "feudal" and "shameful". (CCTV News)

SpaceX Drives U.S. Stock Offering Volume to a Six - month High of $251 Billion

Wall Street bankers are in high spirits after the record - setting offering activities of SpaceX and Alphabet, the parent company of Google. These deals have boosted expectations for trading activities in the second half of 2026. Compiled data shows that, excluding special purpose acquisition companies and other investment vehicles, the total amount of U.S. IPOs and stock offerings this year reached a record $251 billion as of June 26. This figure surpasses the previous six - month high set during the issuance boom in 2021. (Sina Finance)

Science and Technology Innovation Board's trading volume hits a record high

On June 29, the A-share market continued to rise led by the Science and Technology Innovation Board. The STAR 50 Index rose by more than 4.61%, closing at 2,126 points, with a trading volume of 230 billion yuan. The Science and Technology Innovation Comprehensive Index rose by 3.12%, closing at 2,416.67 points, with a trading volume of 606.266 billion yuan, breaking through the 580.4 billion yuan on May 21 and hitting a record high. In the view of industry insiders interviewed by Yicai reporters, after the trading volume of the Science and Technology Innovation Board hit a new high, it shows that funds are still optimistic about the market. It is expected that the structural market is expected to continue. The gradual disclosure of semi - annual reports will dominate the market in the future, and there is also room for catch - up in other lagging sectors. Investors can buy corresponding blue - chip stocks for "re - balancing" of the portfolio based on the information of shareholding increase and share repurchase. (Yicai)

Volkswagen Plans to Terminate Autonomous Driving Cooperation with Bosch

Recently, German automaker Volkswagen plans to terminate its cooperation with automotive supplier Bosch in the field of autonomous driving. It is understood that this move is part of a broader initiative by the company to cut costs and enhance competitiveness. In response, Bosch and Cariad issued a joint statement saying that they would not comment on market rumors. Sources said that the project failed to meet expectations after an investment of about 1.5 billion euros ($1.71 billion). The newspaper added that Volkswagen is currently looking for alternative partners and plans to sign a contract by September. (Sina Finance)

Apple is considering adopting 1.4nm process technology in the SoC of its flagship smartphones as early as 2028.

Apple is considering adopting 1.4nm process technology in the SoC of its flagship smartphones as early as 2028, which means that the lifecycle of the flagship chips manufactured using the 2nm process may be only about two years. (Digitimes)

Credit Card Apps Exit the Market, and the Industry Ushered in a Reconstruction of the Business Model

On June 30, the Bank of China's credit card app, "Bingo Life," will completely stop its services, and the relevant functions will be migrated to the "Bank of China" app. In the past few years, considering cost optimization, small and medium - sized banks have successively abandoned the development of independent credit card apps and merged their functions into mobile banking apps. State - owned large - scale banks, joint - stock banks, and small and medium - sized banks have also gradually shut down their off - site sub - centers. With online integration and offline closures, the domestic credit card industry is bidding farewell to the period of extensive expansion and ushering in a reconstruction of the business model. (Securities Times)

The three major U.S. stock indexes closed higher collectively, and most large technology stocks rose

36Kr learned that at the close on June 29, the three major U.S. stock indexes rose collectively. The Nasdaq rose 2.07%, the Dow Jones Industrial Average rose 0.59%, and the S&P 500 Index rose 1.17%. Most large technology stocks rose. Tesla rose more than 8%, SpaceX rose more than 7%, Google rose more than 4%, Amazon rose more than 3%, Meta rose more than 2%, NVIDIA rose more than 1%, Microsoft fell more than 1%, and Apple fell slightly. Popular Chinese concept stocks strengthened collectively. Baidu rose more than 7%, XPeng Motors rose more than 5%, NetEase rose more than 4%, Bilibili and iQiyi rose more than 2%, NIO rose more than 1%, Alibaba rose slightly, Li Auto fell more than 1%, and JD.com and Pinduoduo fell slightly.

Going Public

Momenta Officially Launches Share Offering

36Kr learned that on June 29, the physical AI company Momenta disclosed its global offering document, officially launched a share offering, and plans to list on the Hong Kong Stock Exchange with the stock code "6880", becoming the "first stock in physical AI". Momenta plans to offer 19,938,300 shares globally in this IPO, including 1,993,840 shares for Hong Kong offering and 17,944,460 shares for international offering, accounting for 10% and 90% of the total number of global offering shares respectively. There is also a 15% greenshoe (over - allotment option) mechanism for this issuance. The final listing price is HK$295.6. Without considering the exercise of the greenshoe option, the total expected fundraising amount is about HK$5.89 billion.

Investment and Financing

"CAYE Technology" Completes Nearly 400 Million Yuan in Series B Financing

36Kr learned that "CAYE Technology", a brand of commercial fully automatic coffee machines, has completed nearly 400 million yuan in Series B financing. This round of financing was led by Meituan Longzhu, an existing shareholder, and co - invested by institutions such as Borui Capital, Hillhouse Capital Ventures, and Suzhou Venture Capital Group. This is also the largest single - round financing in the commercial fully automatic coffee machine track to date.

Zhipingfang Completes a New Round of Financing of Nearly 5 Billion Yuan, with a Valuation Exceeding 20 Billion Yuan

Zhipingfang, an embodied intelligence enterprise, recently completed a new round of financing with a total amount of nearly 5 billion yuan (about 700 million US dollars), and its valuation has risen to over 20 billion yuan. Zhipingfang told reporters that after this round of financing, the company will accelerate the iterative upgrade and large-scale mass production of the "robot brain" and further strengthen its trinity capabilities of "model X hardware X scenario". (Cailian Press)

"URTOPIA" Completes Series B Financing with Total Funding Exceeding 200 Million Yuan

36Kr learned that "URTOPIA", a global intelligent electric-assisted bicycle brand, has recently completed its Series B financing, with the total financing amount exceeding 200 million RMB. This round of financing was led by Brizan Ventures and the industrial fund of Tongxiang Municipal Government, and institutions such as Gao Bingqiang, KunghoFund, and Guangyuan Hesheng continued to increase their investments. After the completion of this round of financing, URTOPIA will continue to increase its investment in core technology R & D, global market expansion, supply chain construction, and organizational capacity upgrading, and promote the company's development from an intelligent electric-assisted bicycle brand to a company centered on outdoor embodied intelligence and human - machine coupling intelligent sports technology.

"Weiti Robotics" Completes Pre-A Round of Financing

36Kr learned that recently, "Weiti Robotics" announced the completion of a new round of Pre-A financing. The financing was led by the Red Bird Sailing Fund, with joint participation from industrial investors such as Lingyi Investment, Yongxin Ark, Weihao Chuangxin, and Ningbo Jide, as well as co - investment from the Shanghai Angel Association. Many existing shareholders continued to support the company. China Renaissance served as the exclusive financial advisor for this round of financing. The funds from this round of financing will be used for the continuous iteration of visual - tactile perception technology, the implementation of actuators, the data collection of visual - tactile information and the closed - loop of models, and the expansion of the R & D team. At the same time, the company will further expand into overseas markets to build global competitiveness.

Compiled | Wang Yixuan