8点1氪丨长鑫科技网上发行初步中签率为0.40995452%；特朗普头像将被印上硬币，面值1美元；多家NFC鲜榨果汁生产车间被曝无水果

Today's Hotspot Guide

SpaceX's market value has plummeted by nearly $850 billion

South Korea will halt new single-stock leveraged ETF listings to curb market volatility

Wang Ning, founder of Pop Mart, leads a team to visit Apple's headquarters

Amazon's Leo strikes a deal with South African enterprises, with satellite internet services expected to launch next year

Japan plans to procure 27,500 Nvidia Rubin chips to build a domestic robotic AI foundational model

TOP 3 Major News

CXMT Technology: The initial online subscription success rate is 0.40995452%

36Kr learned that according to the announcement from CXMT Technology, based on the data provided by the Shanghai Stock Exchange, the number of valid subscription accounts for this online offering is 9,428,778, and the number of valid subscribed shares is 816,920,125,000. The initial online subscription success rate stands at 0.40995452%.

Trump's Portrait to Be Featured on $1 Coins

U.S. Treasury Secretary Bessent announced on the 15th that to commemorate the 250th anniversary of the founding of the United States, the U.S. Mint will begin issuing $1 coins with President Trump's portrait on the obverse side. The obverse of the coin also bears inscriptions of "Liberty", "In God We Trust", and the marking "1776—2026", while the reverse side features a design of the bald eagle. Trump stated that he felt "honored" by this coin.

However, critics have raised questions about the legality of the coin. A U.S. law enacted in 1866 stipulates that portraits of living persons may not appear on U.S. currency, but this law applies specifically to paper currency produced by the U.S. Bureau of Engraving and Printing, while coins are minted by the U.S. Mint. (Yicai Global)

Multiple NFC Fresh Juice Production Workshops Exposed for Having No Fruits, Related Products Still Sold Online

In recent years, NFC juice has been widely popular among consumers. Many pineapple juices, watermelon juices, and mangosteen juices marketed under the banners of "freshly squeezed", "100% juice", and "NFC juice" often achieve sales of hundreds of thousands of units per single product on e-commerce platforms, yet their prices are unbelievably low. Reporters conducted on-site undercover investigations at multiple contract manufacturers in Henan and found that there were no fruits or fresh-squeezing equipment at all in the workshops. The so-called "cold-pressed fresh fruit juice" was entirely blended from water and concentrated puree. The manufacturers admitted openly that "fresh fruits cannot be used for freshly squeezed production at low prices", and they often exploited loopholes by rearranging the labeling order of terms like "100%" and "NFC" on product packaging. At present, multiple involved enterprises have suspended production for rectification. However, reporters found that related products are still being sold online, and the outer packaging labels on some of the bottles have not been modified. (Qilu TV Station)

Cutting-Edge AI Updates

MoonShot to Launch New Model Kimi K3

MoonShot will launch its new model Kimi K3, which features a parameter scale ranging from 2 trillion to 3 trillion. (Sina Finance)

Elon Musk's SpaceXAI Announces Open-Source Release of Grok Build

On local time July 15, Elon Musk's SpaceXAI announced the open-source release of Grok Build and reset all usage limits for its users. Addressing user concerns over privacy, the company stated that Grok Build has fully adhered to the Zero Data Retention (ZDR) principle since its launch. All users have always been able to disable data uploads via the command-line interface. During the early beta phase, data retention was enabled by default for non-ZDR users. As of July 12, the company has disabled default data retention for all Grok Build users, and is in the process of deleting all previously retained coding data to ensure every user's preferences are respected. (JIEMIAN News)

DeepSeek Valuation Exceeds 350 Billion Yuan

An investment progress announcement released by Kairun Co., Ltd. on the evening of the 16th unexpectedly disclosed the latest market valuation of DeepSeek, a leading domestic artificial intelligence enterprise. Calculated based on the data in the announcement, DeepSeek's post-money valuation after this financing round has climbed to approximately 351 billion yuan. Sources close to DeepSeek confirmed that with the completion of this round of financing, the company has already launched its second round of financing, though it remains undecided whether the firm will pursue a listing on the Sci-Tech Innovation Board by the end of the year. (Shanghai Securities News)

Japan Plans to Procure 27,500 NVIDIA Rubin Chips to Build Domestic Robotics AI Foundation Models

According to reports on July 16, Japan plans to purchase 27,500 next-generation NVIDIA Rubin AI chips to support the development of its domestic foundational AI models for robotics. The newly established entity Noetra will be responsible for constructing large-scale data centers, with a plan to release its first AI model by March 2027, followed by continuous iterative updates. In the coming years, the organization will launch specialized AI models tailored for robotics applications. Backed by 387.3 billion yen in funding from the Japanese government through March 2027, Noetra is operated through the collaborative involvement of dozens of enterprises including SoftBank, Toyota Motor-supported Preferred Networks, and NEC. The project aims to reduce reliance on overseas technology and drive Japan to capture over 30% of the global robotics market, which is projected to reach approximately 60 trillion yen by 2040. (JIEMIAN NEWS)

Masayoshi Son Predicts AI Robot Market Will Exceed 290 Trillion Yuan

Recently, the artificial intelligence-related sectors in global capital markets have experienced drastic fluctuations, and debates over the "AI bubble" have grown increasingly fierce. On the 14th local time, Masayoshi Son, Founder and CEO of Japan's SoftBank Group, stated during an event in Tokyo that concerns about an AI bubble are unfounded. Questioning AI today is as absurd as rejecting automobiles and aircraft in their early days. According to reports from Kyodo News, Son noted at the event that around 2040, approximately 1 billion AI-powered humanoid robots will be put into operation. By then, the AI robot market will expand to roughly 7,000 trillion yen (about 292.7 trillion yuan), equivalent to 20% of the global total economic output. (CCTV Finance)

Big Companies / Major Events

The three major U.S. stock indexes closed lower collectively, with SpaceX dropping 3% in after-hours trading

The three major U.S. stock indexes ended the session in negative territory. Semiconductor and memory chip stocks plummeted, with the Philadelphia Semiconductor Index down over 4%. Intel, Micron Technology, and Broadcom all fell more than 5%, SK Hynix dropped over 13%, and SanDisk slumped more than 12%. Chinese concept stocks bucked the trend and strengthened, with the Nasdaq Golden Dragon China Index rising 1.79%.

Large-cap tech stocks showed mixed performance. Apple and Microsoft climbed more than 1%, while Tesla fell 0.86%, Amazon dropped nearly 2%, NVIDIA declined over 2%, and Google tumbled more than 4%. In addition, SpaceX's share price continued to move lower, falling over 3% on the day. The stock has retreated by more than 31% from its peak since its listing in June, and market skepticism about its extremely high valuation continues to intensify. (China Securities Journal)

Buffett: I Personally Decided on the Heavy Alphabet Position and Regret Buying It Too Late

Legendary investor Warren Buffett stated in a recent interview that Berkshire Hathaway's major recent investment in Google's parent company Alphabet was personally initiated by him, rather than by new CEO Greg Abel. Buffett revealed that he launched the transaction, and insisted that he maintains extremely close communication with his successor Abel. While the two mutually recognize each other on major decisions, he was the final decision-maker for this investment. Even though he personally executed this huge investment, the 95-year-old Buffett admitted during the interview that he made the mistake of failing to invest in Alphabet much earlier. He has long expressed regret over missing out on the early rise of this tech giant. (JIEMIAN NEWS)

Apple Raises AppleCare+ Service Prices

Apple has increased the prices of its AppleCare+ service. The monthly plans for Mac and iPad have seen a $0.05 price hike, while their annual plans have gone up by $5. This adjustment only affects new customers. (CLS)

South Korea to Halt New Single-Stock Leveraged ETF Listings to Curb Market Volatility

South Korea will suspend the listing of new single-stock leveraged exchange-traded products to rein in market volatility, following a surge in demand for leveraged funds tied to Samsung Electronics and SK Hynix. The ban will remain in place until market conditions stabilize, the Financial Services Commission said in a statement on Thursday. In addition, authorities will raise the minimum deposit requirement for leveraged ETFs from 10 million won to 30 million won ($20,300) starting August 5. This marks the South Korean government's most comprehensive measure to date to curb the retail trading frenzy. (Sina Finance)

Pop Mart Founder Wang Ning Leads Team to Visit Apple Headquarters

36Kr learned that on the afternoon of July 14 local time, Wang Ning, founder of Pop Mart, led a team of core executives to visit Apple Park, Apple's headquarters in Silicon Valley, USA, and met with current Apple CEO Tim Cook, incoming new CEO John Ternus and other executives. The two sides had in-depth and friendly exchanges focusing on creative design, digital ecosystem and global consumer trends.

AI Phone Concept Surges, Multiple Stocks Including Zhidu Corporation Hit Limit Up

On July 16, the AI phone concept remained active, driving the overall strength of the end-side AI sector. Zhidu Corporation surged straight to the 10% limit for its second consecutive trading session. Earlier, stocks including Green Precision, Furui Electronics, Guoguang Electric, and Furong Technology had already hit their respective limit ups. Shares of Haosheng Electronics, Hwavi Technology, Electroacoustic Corporation, and Hongxi Technology all rose by over 10%. In terms of news, according to reports from Jiemian News, the first AI agent phone ("Doubao AI Agent Phone") jointly developed by ByteDance and ZTE Nubia will see multiple models launched this year. One of the models is set to make its debut during the 2026 World Artificial Intelligence Conference, with an overall inventory plan of around 200,000 units, and the first batch of stockpiles will be kept under 100,000 units. (The Paper's Financial News)

Rental Demand Surges in First-Tier Cities Like Shenzhen, Rent-to-Price Ratio Continues to Rise

Compared to housing prices, rent is a more direct indicator linked to residents' cost of living. With the full arrival of the 2026 summer rental peak, rental demand in first-tier cities such as Shenzhen has climbed rapidly, and the rental market has taken the lead in emerging from the adjustment phase. Recent visits to multiple residential communities and urban villages in Luohu, Longgang, and Futian districts of Shenzhen found that, alongside the concentrated release of job-hunting and housing-switching demands during the graduation season, the activity of Shenzhen's rental market has increased significantly. The city's population attractiveness and economic vitality are intuitively reflected in the rental data. Nationwide, the average rent in first-tier cities saw a slight increase in the first half of this year, officially ending the two consecutive years of adjustment. (Securities Times)

Brain-Computer Interface Receives Dual Support from Policies and Capital, Industry Accelerates the Commercialization Chain

On July 15, the Shanghai Municipal Science and Technology Commission announced that the first prescription for the implantable brain-computer interface hand motor function compensation system (NEO) after its marketing approval was issued in Shanghai on July 13, and the world's first implantation surgery was completed at Huashan Hospital Affiliated to Fudan University. This brain-computer interface product was approved for marketing in March this year. On July 15, A-share brain-computer interface concept stocks rallied. Industry insiders judge that China's overall development level in the brain-computer interface field ranks in the global first tier, with the potential to achieve leapfrog development relying on a complete industrial chain and engineer dividend. However, there are still shortcomings in fields such as basic neuroscience research and dedicated chips. The industry is breaking through from multiple dimensions including policy guidance, industrial agglomeration, and technological iteration to steadily build a complete commercial closed loop. (China Securities Network)

Hyundai Motor Group to Make Boston Dynamics a Wholly Owned Subsidiary

Hyundai Motor Group announced on July 16 that it will acquire the nearly 10% stake in Boston Dynamics held by SoftBank, turning the latter into a wholly owned subsidiary. The group stated that this move will help it deploy advanced robotics technology across all its business sectors. Previous media reports estimated the value of this transaction at nearly 500 billion Korean won (approximately 335 million U.S. dollars). (The Paper)

CITIC Securities: Focus on Investment Opportunities in the Healthcare Industry

36Kr learned from a CITIC Securities research report that the pharmaceutical sector continues to demonstrate the high certainty of essential demand, coupled with the sustained high growth of domestic biomedical financing data. CITIC Securities believes that innovative pharmaceutical enterprises and global pharmaceutical industry chain companies are expected to achieve steady performance growth over the next 3-5 years. Starting from Q3 this year, core pipelines of domestic innovative drugs will soon see critical data readout catalysts, and the international value of assets with global potential is expected to accelerate realization. Meanwhile, major policy reforms are gradually returning to a market pricing system oriented by clinical value and demand, creating a stable and sustainable domestic pharmaceutical market environment and a long-term, high-growth development trend, bringing high-certainty alpha and beta returns for the industry. It is recommended to focus on investment opportunities in the healthcare industry.

Bank of Korea Raises Interest Rates by 25 Basis Points to 2.75%

The Bank of Korea raised interest rates by 25 basis points to 2.75%, marking its first rate hike since January 2023, which is in line with market expectations. (CLS)

Tech Positioning Divergence Emerges in Q2 Fund Reports, Top-Performing Funds Maintain High Equity Exposure

In the first half of this year, the technology sector was the undisputed "bellwether" of the A-share market, with multiple equity funds heavily invested in the tech track delivering standout returns. The recently released Q2 reports of public offering funds show that while most fund managers remain highly enthusiastic about allocating to the technology sector, notable divergences have emerged regarding intra-sector rotation and valuation logic for tech stocks. As the global AI wave continues to advance, the technology sector has maintained an exceptionally high level of prosperity. Judging from the recently disclosed Q2 fund reports, a number of top-performing funds under public offering firms including China Asset Management, Ping An Fund, Rongtong Fund, Hongtu Innovation Fund, and Jinxin Fund have continued to operate with high positions in tech stocks, with many products securing exceptionally high returns in the single quarter. (Securities Times)

Industry Prosperity Confirmed, Widespread Positive Preliminary Performance Forecasts for Lithium Battery Chain Enterprises in H1

Lithium battery enterprises have concentratedly released their H1 2026 performance forecasts, further validating the logic of the industry's upward cycle. According to Choice data, as of market close on July 15, 35 listed companies across the lithium battery industrial chain have published their first-half performance announcements. Except for 3 enterprises reporting year-on-year performance declines, all others have projected profit growth, turnaround from losses, or narrowed losses. The "report cards" of these enterprises reveal a synchronized recovery in prosperity across all segments of the industrial chain, ranging from upstream lithium ore and lithium salt, to mid-stream lithium battery materials, and downstream power batteries and energy storage tracks. Upstream lithium salt producers have seen simultaneous increases in both sales volume and product prices, driving widespread preliminary profit growth for related enterprises; mid-stream separator and electrolyte manufacturers, along with downstream battery producers, are experiencing synchronized profit recovery. (Shanghai Securities News)

India Raises Export Duties on Diesel and ATF, Cuts Gasoline Export Tax

The Indian government announced adjustments to the windfall export taxes on petroleum products effective July 16. Specifically, the windfall tax on diesel exports has been increased from 8.5 rupees per liter to 15.5 rupees, the export duty on aviation turbine fuel has been raised from 7.5 rupees per liter to 14.5 rupees, while the export tax on gasoline has been reduced from 4 rupees per liter to 2.5 rupees. (CLS)

Japan's Parliament Passes Law to Reclassify Cryptocurrencies as Financial Assets

Japan has reclassified cryptocurrencies as financial instruments, a structural shift that establishes a legal framework for separate taxation on crypto assets and lays the groundwork for future crypto exchange-traded funds (ETFs). The legislation, approved by parliament on Wednesday, amends the Financial Instruments and Exchange Act and the Payment Services Act (PSA). This revision moves cryptocurrencies from a framework where they were primarily treated as payment tools to one where they are regulated as investments alongside other financial instruments. The new regulations are expected to take effect in 2027. (Sina Finance)

Former IBM Financial Leader Bin Fan Joins Zhongguancun Kejin as Senior Vice President

On July 16, Zhongguancun Kejin announced that Bin Fan, former General Manager of IBM Global Financing Industry, has taken on the role of Senior Vice President. He will oversee the Banking and Credit Division, Wealth and Insurance Division, Joint Operations Division, as well as overseas business strategy and expansion. This personnel arrangement reveals two key strategic intentions of Zhongguancun Kejin: consolidating its core financial business and accelerating new growth through global expansion. With 25 years of experience in financial consulting, Bin Fan is the only academician of the IBM Financial Industry Academy in China, and has led numerous core banking system transformation projects across the country.

Amazon's Leo Reaches Agreement with South African Enterprise, Satellite Internet Service Expected to Launch Next Year

Amazon's low-Earth-orbit satellite network Leo announced on July 15 local time that it has reached an agreement with Herotel, South Africa's largest fixed internet service provider, to bring satellite internet to South Africa through a new service called evry. Evry is expected to officially launch in 2027, providing internet connectivity for residential users in South Africa. This is the first such agreement that Amazon Leo has secured in Africa. (Jiěmiàn News)

Signing Ceremony of the Agreement Establishing the World Artificial Intelligence Cooperation Organization Held in Shanghai

On July 16, the signing ceremony of the agreement establishing the World Artificial Intelligence Cooperation Organization was held in Shanghai. Wang Yi, Member of the Political Bureau of the Communist Party of China Central Committee and Minister of Foreign Affairs, attended the ceremony and signed the agreement on behalf of the Chinese government. The agreement clarifies that the World Artificial Intelligence Cooperation Organization is an independent intergovernmental international organization, which follows the purposes of the Charter of the United Nations, upholds the concept of extensive consultation, joint contribution and shared benefits, adheres to the people-oriented principle, and aims to promote international cooperation and global governance of artificial intelligence, ensure the healthy and orderly development of artificial intelligence in a beneficial, safe and fair direction for the benefit of all mankind. The headquarters of the organization is located in Shanghai, China. Representatives from 29 countries including Madiev, Deputy Prime Minister of Kazakhstan and Minister of Artificial Intelligence and Digital Development, Thongswan, Deputy Prime Minister and Foreign Minister of Laos, Dar, Deputy Prime Minister and Foreign Minister of Pakistan, Oreshkin, Deputy Chief of Staff of the Russian Presidential Executive Office, and Airlangga, Minister of the Coordinating Ministry for Economic Affairs of Indonesia, signed the agreement and became founding members. Representatives from countries and international organizations including UN Secretary-General Guterres attended the ceremony. (Xinhua News Agency)

IPO in Progress

Shenzhou Co., Ltd.'s STAR Market IPO Review Status Changed to "Inquired"

36Kr learned from the official website of the Shanghai Stock Exchange that on July 15, the STAR Market IPO review status of Jiangsu Shenzhou Semiconductor Technology Co., Ltd. was updated to "Inquired".

Baidu: Proposes Voluntary Dual Primary Listing Conversion on HKEX Main Board

36Kr has learned that Baidu announced its board of directors has approved a resolution to pursue a voluntary conversion to dual primary listing status on the Main Board of The Stock Exchange of Hong Kong Limited in accordance with HKEX Guidance Letter HKEX-GL112-22. The conversion is expected to take effect within this year. The board has also authorized the company's management to carry out relevant preparatory work and take necessary steps to complete the conversion. Following the conversion, the company will become a dual primary listed entity on both the HKEX Main Board and the NASDAQ Global Select Market, with its Class A ordinary shares and American depositary shares continuing to trade on both exchanges (as applicable) while remaining interchangeable.

Large Corporate Earnings Reports

TSMC Reports Net Profit of NT$706.56 Billion in Q2, Up 77.4% Year-on-Year

On July 16, TSMC released its consolidated financial results for the second quarter of 2026, covering the period ending June 30. The company recorded consolidated revenue of NT$1.27038 trillion, representing a 36% year-on-year increase, while net profit reached NT$706.56 billion, marking a 77.4% year-on-year growth. Gross margin stood at 67.7%, operating profit margin at 60.3%, and net profit margin at 55.6%. In terms of total wafer revenue for the quarter, shipments using 2nm, 3nm, 5nm, and 7nm processes accounted for 3%, 30%, 33%, and 11% respectively, with 7nm and more advanced processes collectively making up 77% of total wafer revenue. (Source: Jiemian News)

Moore Threads: H1 Revenue Projected to Surge 135.12%-149.37% Year-over-Year

36Kr learned from Moore Threads' announcement that the company projects its revenue for the first half of 2026 to reach 1.65 billion to 1.75 billion yuan, marking a year-over-year growth of 135.12% to 149.37%. During the reporting period, driven by the booming development of the artificial intelligence industry and strong market demand for full-featured GPUs, coupled with the accelerated commercialization of the company's Kuahe Intelligent Computing Cluster, its products have received high customer recognition with stable supply delivery. The company's market competitive advantages have been further expanded, driving rapid revenue growth.

Hygon Information: H1 Net Profit Expected to Rise 41.50%-52.32% Year-on-Year

36Kr learned that Hygon Information released an announcement forecasting that its net profit attributable to owners of the parent company for the first half of 2026 will increase by 498.5482 million yuan to 628.5482 million yuan compared with the same period of the previous year (statutorily disclosed data), representing a year-on-year growth of 41.50% to 52.32%. After excluding the impact of share-based payments, the net profit will increase by 924.7807 million yuan to 1,054.7807 million yuan, up 74.27% to 84.71% year-on-year.

Netflix Reports Q2 Revenue of $12.56 Billion, Up 13% Year-over-Year

Netflix posted Q2 revenue of $12.56 billion, representing a 13% year-over-year increase, while market expectations stood at $12.59 billion; operating profit reached $4.2 billion, marking an 11% year-over-year rise. The company revised its full-year revenue forecast downward to a range of $51 billion to $51.4 billion, implying a 13% to 14% year-over-year growth, and projects an operating margin of 31.5% for 2026. (JIEMIAN NEWS)

Cool Products

Doubao AI Phone to Launch Multiple Models This Year

The first AI Agent smartphone co-developed by ByteDance and ZTE Nubia (dubbed "Doubao AI Agent Phone") will see several variants released this year. One of the models is set to make its debut during the 2026 World Artificial Intelligence Conference, with an overall production volume of around 200,000 units, and the initial shipment batch will be under 100,000 units. As of press time, ZTE has not issued any response to this announcement. (Source: Jiemian News)

Compiled by | Wang Haoyang