Krypton Evening News | WeRide officially launched a four-legged wheeled robot; Qwen large model upgraded the real-time speech recognition large model Fun-ASR-Realtime

Large Companies:

Ming-Chi Kuo Reveals Latest Apple Foldable: Significant Supply Shortage Likely, "Hunger Marketing" May Repeat

Renowned analyst Ming-Chi Kuo points out that Apple's foldable iPhone is expected to ship in the second half of 2026, with potential initial supply constraints. His industry survey shows that assembled shipments of the foldable iPhone will reach approximately 7-8 million units in H2 2026, including 500,000 to 1 million units in Q3, accounting for roughly 10% of Apple's total shipments. Priced at an estimated $2,300-$2,500, supply limitations could drive resale premiums of 50%-100%. He notes that the critical period for evaluating the foldable iPhone's sales performance will be from late 2026 through Q1 2027. (CLSA)

Qwen Large Model Upgrades Real-Time Speech Recognition Model Fun-ASR-Realtime

36Kr learned that the Qwen Large Model has officially upgraded to the real-time speech recognition large model Fun-ASR-Realtime — a streaming speech recognition model with first-word latency controlled at the hundred-millisecond level and recognition accuracy close to offline models, supporting 16 dialects and 30 languages.

Sullivan Full-Stack AI Cloud Service Report: Alibaba Cloud Holds 40.1% Market Share

36Kr learned that on July 6, the international market research firm Sullivan released the Out-of-the-Box AI Cloud Services - 2025 China Full-Stack AI Cloud Service Market Report. The report shows that the total market size of China's IaaS, PaaS, and MaaS reached 59.59 billion yuan in 2025. Among this, Alibaba Cloud recorded a total revenue of 23.9 billion yuan, ranking first with a 40.1% market share and firmly securing its position as China's largest AI cloud service provider.

Yuxin Tech: The Company Invests in Moonshot AI's Equity Through a Specialized Investment Fund

36Kr has learned that Yuxin Tech stated on an interactive platform that the company invests in the equity of Moonshot AI through a dedicated investment fund.

Best: Humanoid Robot Business Remains in the Prototyping Stage

Best announced that the cumulative deviation of its stock price increase from the benchmark over three consecutive trading days has exceeded 30%, which constitutes abnormal stock trading fluctuations. The company has noted that the market is showing high attention to hot concepts such as humanoid robots. However, the company's humanoid robot component business is still in the prototyping stage. In the first half of 2026, related prototype products generated revenue of 223,000 yuan, accounting for approximately 0.03% of the company's total revenue. The business is on a small scale and does not have a significant impact on the company's performance, with major uncertainties surrounding future earnings. (Yicai Global)

Yongding Co., Ltd.: Estimated net profit attributable to shareholders for H1 2026 to be between RMB 500 million and RMB 700 million, representing a year-on-year increase of 57%-120%

Yongding Co., Ltd. announced on July 5 that based on preliminary calculations by the financial department of Jiangsu Yongding Co., Ltd., the net profit attributable to shareholders of listed companies for the first half of 2026 is estimated to be between RMB 500 million and RMB 700 million, an increase of RMB 181.47 million to RMB 381.47 million compared with the same period of the previous year (statutorily disclosed data), representing a year-on-year increase of 57% to 120%. (JIEMIAN NEWS)

Investment and Financing:

Cape Dynamic Recently Completed Seed Round and Angel Round Financing Consecutively

36Kr has learned that Cape Dynamic has recently closed its seed round and angel round financing in succession. The total amount of the two financing rounds reaches tens of millions of RMB, led by Zero One Capital, followed by Xinding Capital, with Weikuai Capital acting as the long-term financial advisor.

Zhejiang Orient: H1 net profit expected to be 872 million yuan, up about 114.25% year on year

36Kr learned that Zhejiang Orient released its performance forecast, estimating that the net profit attributable to owners of the parent company in the first half of 2026 will reach 872 million yuan, representing a year-on-year increase of approximately 114.25%.

Continental Divests ContiTech for €4 Billion, Strategic Transformation Focuses on Tire Business

German automotive supplier Continental is selling its plastics and rubber division ContiTech to Lone Star Funds for €4 billion, with the transaction expected to close by the end of the year. This divestment marks the final step in Continental's strategic restructuring to become a pure tire manufacturer, aimed at navigating the global automotive market downturn. (Jiemian News)

New Products:

Tencent Hunyuan Hy3 Officially Released

36Kr learned that on July 6, Tencent Hunyuan Hy3 was officially launched. Compared to the preview version, it demonstrates intelligence levels significantly stronger than models of the same size and on par with flagship models (with 2-5 times the parameter scale), while its pricing has been further reduced. It is understood that Hy3 has been integrated into multiple businesses including WorkBuddy/CodeBuddy, Yuanbao, Marvis, and ima. Its API has been launched on Tencent Cloud TokenHub, and multiple overseas API platforms will also integrate it successively.

Meituan Officially Open-Sources LongCat-2.0

36Kr learned that on July 6, Meituan announced the official open-sourcing of all model weights, inference engines, and core technical documentation for LongCat-2.0. On the same day, domestic chip manufacturers including Huawei Ascend, Moore Threads, and MetaX jointly announced that they had completed inference adaptation for the model.

UISEE Officially Launches Quadruped Robot

36Kr learned that on July 6, UISEE officially released the "Combo" full-link unmanned logistics closed-loop solution, with a quadruped robot developed by its subsidiary, Starwiz Dynamics, making its simultaneous debut.

Today's Viewpoint:

Nomura: Market Concerns About "Overcapacity in Computing Power" May Be Overblown, and South Korea's Chip Investments Will Not Quickly Translate Into Production Capacity

Analysts at Nomura said in their latest report that the market's concerns about "overcapacity in computing power" are likely excessive, and the memory chip industry is still far from entering a downward cycle. The market is currently facing a severe shortage driven by artificial intelligence demand. As major chip manufacturers prioritize the production of high-margin high-bandwidth memory (HBM), the supply of conventional DRAM and NAND has been restricted. Nomura's analysts emphasized that against this backdrop, fears of a supply glut are unfounded. Given the typically lengthy construction and development cycles in the semiconductor industry, the projects announced by South Korean chip giants are unlikely to have a material impact on supply for several years. (CLS)

Huatai Securities: Focus on Hong Kong Stocks with High Short Selling Pressure and Improving Earnings Expectations

36Kr learned that according to a research report from Huatai Securities, for the Hong Kong stock market in the short term, it is recommended to focus on oversold sectors that face heavy short selling pressure and see marginally stabilizing or improving earnings expectations (such as innovative pharmaceuticals and power utilities), as well as high-dividend defensive sectors (banking). Among them, the fundamentals of the innovative pharmaceutical sector continue to improve; this sector has started to catch up in the ongoing global style rebalancing, and short-term short covering is expected to continue. It is advised to pay key attention to CXO companies with positive performance guidance and leading enterprises with strong BD potential. For the AI hardware chain, the cost-effectiveness of further increasing positions in the short term is not high. The next key window will be the U.S. stock earnings season in July, and it is recommended to adjust position exposure according to the level of floating profits. For the AI software sector, there are more alpha opportunities in individual stocks with leading model technologies.

Other Noteworthy News:

China's Full Film Industry Chain Output Exceeds 200 Billion Yuan This Year

According to news on July 5, the 2026 summer consumer market is brimming with vitality, and the "light and shadow economy" has delivered standout performances. During this "summer of cinema," over 90 films of diverse genres have been released in succession, continuously fueling the public's passion for moviegoing. A single movie ticket stub connects multiple business formats including cultural tourism, commercial districts, and catering, enabling two-way foot traffic between cinemas and surrounding commercial areas, with moviegoers driving incremental consumption. This year, the total output value of China's full film industry chain has surpassed 200 billion yuan. To further unlock the industry's growth momentum, the National Film Administration and the State Administration for Market Regulation have introduced new regulations to support the integrated development of cinema business formats, differentiated operations, and upgrades in audiovisual technology, promoting the transformation of traditional screening halls into immersive comprehensive cultural spaces. The combined dividends of enriched content supply, cross-industry collaboration, and policy support continue to inject strong new vitality into the summer consumer market. (CCTV Business News)