9:00 36Kr | Elon Musk responds to the spin-off of Tesla's China business; fuel surcharges on domestic air routes will be lowered again; the highest-paid undergraduate major in China has a new top spot.
Today's Hotspot Guide
ByteDance releases video creation model Seedance 2.5
Changxin Technology's market value exceeds 4 trillion
Humanoid robots are facing "battery range anxiety", and the industry is actively exploring different routes such as battery swapping
South Korea's KOSPI index rises by 18%
Anthropic states that its AI model mistakenly intruded into the systems of three real institutions during the test period
TOP3 Major News
Elon Musk Responds to Reports of Tesla Spinning Off Its China Business
On July 31, in response to the news that Tesla is considering splitting off its China business, Elon Musk, CEO of Tesla, replied to a third-party forwarded comment: "This is fake news." Regarding the rumor that Tesla is considering selling or divesting its China business, an insider from Tesla China also told a reporter from Yicai: "It is untrue information." (Yicai)
Qunar: Fuel surcharge will be further reduced starting from August 5, with each passenger saving 30 yuan on routes over 800 kilometers
36Kr learned that on July 31, Qunar received notices from a number of airlines that starting from August 5, 2026 (the ticket issuance date), for adult passengers: a fuel surcharge of 70 yuan per passenger will be levied on routes over 800 kilometers, and a fuel surcharge of 40 yuan per passenger will be levied on routes of 800 kilometers (inclusive) and below. Compared with the standard before the adjustment, the fee is reduced by 30 yuan and 10 yuan respectively.
The highest-paying undergraduate major in China has a new top spot, with the Electronic Science and Engineering major taking first place with a monthly salary of 7814 yuan
The monthly income level of undergraduates half a year after graduation is an important reference indicator reflecting the employment quality of different majors. With the change of industrial structure, the high-paying undergraduate majors are also evolving. The "2026 China Undergraduate Employment Report" (Employment Blue Book) released by MyCOS Research Institute shows that the major with the highest average monthly income for undergraduate graduates half a year after graduation this year has become Microelectronics Science and Engineering. This major ranks first with 7814 yuan, Electronic Science and Technology and Automation take the second and third places respectively, while Information Security drops to the fourth.
According to the data, Microelectronics Science and Engineering ranked 11th when it first entered the list for the 2017 graduation cohort, and has shown a continuous overall upward trend ever since: it ranked 9th for the 2018 cohort, rose to 8th for the 2021 cohort, entered the top 6 for the 2022 cohort, ranked second for two consecutive years in the 2023 and 2024 cohorts, and finally reached the top in the 2025 cohort, becoming the new No.1 high-paying undergraduate major. At the same time, Electronic Science and Technology has also risen steadily from 9th in the 2016 cohort to 2nd; Automation has climbed from 19th to 3rd; Optoelectronic Information Science and Engineering has jumped all the way from 28th to 5th. (Yicai)
Cutting-edge AI
The EU will implement relevant provisions of the AI Act starting from August 2, adding new AI transparency requirements
The European Commission announced on July 31 that starting from August 2, the European Commission's AI Office will jointly implement the relevant provisions of the AI Act with the competent authorities of all member states. Meanwhile, the new artificial intelligence transparency requirements will officially come into force, requiring some artificial intelligence systems to clearly inform users that they are interacting with artificial intelligence, and whether relevant content is generated or modified by artificial intelligence. According to the new regulations, interactive artificial intelligence systems such as chatbots must clearly indicate to users that they are artificial intelligence rather than real people. Content such as deepfake images, videos and audio generated or edited by artificial intelligence must be marked, and content generated or modified by artificial intelligence also needs to add machine-recognizable marks for identification and tracking. The European Commission stated that these measures aim to reduce deception and manipulation, help the public make more informed judgments, and provide enterprises with clearer compliance requirements and implementation paths. (CCTV News)
ByteDance Releases Video Creation Model Seedance 2.5
36Kr learned that ByteDance has officially announced the release of Seedance 2.5, a new-generation video creation model. Seedance 2.5 is being successively launched on platforms including Jimeng AI and Doubao Professional Edition, and its API service will also be launched on Volcano Ark in the near future. According to information from Volcano Engine, on the release day of Seedance 2.5, a number of enterprises including XCMG Group, XPeng Motors, Lingchu Intelligence, Weifen Intelligent Flight and Qiongche Intelligence have confirmed cooperation, and will take the lead in introducing the capabilities of this model.
Official DeepSeek-V4-Flash Release Goes Live
The official version of DeepSeek-V4-Flash is now online and accessible via API. Compared with the earlier Preview version, the official V4-Flash delivers a substantial boost in Agent capabilities, with remarkably improved performance across a wide range of benchmark tests. In addition, the new version natively supports the Responses API format and has been adapted for Codex. It is noted that the V4-Flash-0731 model maintains the same architecture and size as the Preview edition, with its core updates coming from post-training optimization.
After expanding its computing power data centers, Zhipu AI opens subscriptions for GLM Coding Plan
On July 31, Zhipu AI announced that with the continuous expansion of infrastructure, GLM Coding Plan, the paid subscription service for developer groups, is now open for subscription. Previously, due to the outbreak of AI Coding demands and the surging growth of user demand, the number of subscription quotas was restricted in stages. It is also understood that Zhipu AI has put into operation the construction of a 1GW-level domestic AI computing power data center that fully adopts domestic AI chips, and keeps investing in the construction of computing power infrastructure. (Yicai)
MiniMax H3 Officially Released
36Kr learned that MiniMax announced the official release of MiniMax H3. As introduced, this is a general full-modality generative model that supports the unified understanding of multi-modal context consisting of text, images, videos and audio, is capable of outputting audio and video with native dual channels, and supports up to 15-second 2K resolution. MiniMax stated that it plans to open the model weights within the next few days on the premise of complying with relevant laws and regulations.
Major Companies / Key Events
Changxin Technology's market capitalization has exceeded 4 trillion
36Kr learned that on July 31, the share price of Changxin Technology surged, rising by more than 13% during intraday trading, and its total market capitalization broke through 4 trillion.
National Development and Reform Commission: Starting from 24:00 on July 31, the prices of domestic gasoline and diesel (standard products) will be raised by 685 yuan and 655 yuan per ton respectively
36Kr has learned from the announcement of the National Development and Reform Commission that in light of the changes in international oil market prices, starting from 24:00 on July 31, the prices of domestic gasoline and diesel (standard products) will be increased by 685 yuan and 655 yuan per ton respectively.
After Arc'teryx, Mammut has also been acquired by Chinese capital
On July 30, CPE Yuanfeng and European private equity institution Jacobs Capital officially signed a share purchase agreement to acquire Mammut Sports Group AG. This transaction still needs to go through routine regulatory approval procedures and meet relevant closing conditions, and the closing is expected to be completed within the next few months. The specific financial details of the transaction have not been disclosed. (Jiemian News)
"Electronic Fence" to be Built Against "Ghost Food Delivery": Triple Coordinate Comparison of the Business Premises on the Operation License, the Food Preparation Address for Takeout, and the Rider's Meal Pick-up Address
On July 31, it was learned from the State Administration for Market Regulation: To further eradicate the breeding ground for "ghost food delivery" from the source and prevent non-compliant takeout merchants from accessing the platforms, the State Administration for Market Regulation is actively promoting the application and popularization of electronic licenses in the governance of online catering food safety, which is equivalent to issuing an "electronic ID card" to every takeout merchant. Food delivery platforms can automatically capture the business premise information on the electronic operation qualifications to build an "electronic fence", and carry out triple coordinate comparison with the food preparation addresses provided by takeout merchants and the actual meal pick-up addresses of riders, to confirm that the takeout merchants are "truly existing", and effectively eliminate the illegal order transfer issues such as entrusting others to process and produce meals. (People's Daily)
Many small and medium-sized banks in multiple regions have lowered their deposit rates, and some banks have taken medium and short-term deposits as their marketing priorities
Recently, city commercial banks, rural commercial banks and village banks in Zhejiang, Yunnan, Guizhou and other regions have intensively issued announcements on deposit rate adjustments. The five-year time deposit rate has entered the "1%" range, and the interest rate inversion phenomenon (the longer the term, the lower the interest rate) has occurred in some banks. In the meantime, reporters' research shows that some banks have begun to take medium and short-term deposit products such as one-year time deposits as their marketing focus. (China Securities Journal)
Tesla Officially Introduces Doubao
Tesla China announced the 2026.14.13 version of its infotainment system software update on July 31, covering Model 3, Model Y, Model S and Model X. The phased rollout was launched on July 31, 2026. One of the key upgrades in this software update is the "Doubao Large Model": an intelligent voice assistant that can not only provide real-time information, but also conduct natural and smooth conversations. It supports multiple high-quality timbres, and can be matched with personalized roles such as "Know-It-All", "Music Enthusiast" and "Storyteller". Users need to activate the premium in-car entertainment service to use this function. (Sina Finance)
Global Chip LOF: Trading will be suspended from the afternoon market opening on July 31 until the close of the same day
36Kr has learned that Invesco Great Wall Fund Management Co., Ltd. issued an announcement stating that the secondary market trading price of Global Chip LOF (501225) is significantly higher than the net value of the fund's share, resulting in a considerable premium. To protect the interests of investors, the trading of the fund will be suspended from the afternoon market opening on July 31, 2026 until the close of the same day, and the redemption business of this fund will proceed normally during the suspension period.
Xiaomi has successfully registered the Pengcheng trademark
According to 36Kr, the intellectual property information from Tianyancha shows that Xiaomi Technology Co., Ltd. has applied for the registration of multiple "SKYNOMAD" and "Pengcheng" trademarks, with international classifications covering transportation means, mechanical equipment, communication services and other categories. Some of the trademarks have now been successfully registered.
HSBC Holdings will sell an Australian loan portfolio worth 25 billion US dollars to Blackstone
HSBC Holdings has agreed to sell its Australian housing and personal loan portfolio worth 25 billion US dollars to private equity firm Blackstone. This UK-headquartered bank will continue to reshape its business and focus on core markets. HSBC stated on July 31 that Virgo BidCo will acquire the aforementioned loan portfolio. Virgo BidCo is an entity wholly owned by a fund managed by an affiliate of Blackstone. (Sina Finance)
Humanoid Robots Are Facing "Battery Life Anxiety", and the Industry Is Actively Exploring Different Solutions Such as Battery Swapping
2 to 4 hours is the common battery life of the current mainstream mass-produced humanoid robots worldwide. This means that a robot claimed to be able to replace factory workers cannot last through a standard shift. As humanoid robots move from laboratories to factories and even households, the bottleneck of battery life is becoming the most realistic "stumbling block" for large-scale implementation. At the recently held World Artificial Intelligence Conference (WAIC2026), Xu Wei, General Manager of Joyson New Energy under Joyson Electronics, pointed out six major challenges facing the industry to reporters: short battery life, limited payload, cramped internal space, excessively long energy replenishment time, prominent safety risks, and instantaneous high power demand under high-dynamic motion. "But these can be attributed to two core contradictions — insufficient battery life capacity and safety challenges," Xu Wei said bluntly. The battery life problem of humanoid robots requires collaborative breakthroughs in multiple links such as battery materials, motor efficiency, control algorithms and power management, rather than a one-stop solution with a single technology. At present, the industry is actively exploring different routes including battery swapping, solid-state batteries, and semi-solid-state batteries. Battery swapping is the most pragmatic solution in the short term. Solid-state batteries have high expectations but are still far from large-scale mass production, while semi-solid-state batteries have become the most feasible transition route at present. (Securities Times)
Tencent's AI virtual cell algorithm is published in the main issue of *Cell*, marking the first such achievement of its kind in China
36Kr has learned that the research result "UniPert–G2CP" jointly completed by Tencent Life Science Lab and Central South University was recently published in the main issue of the international academic journal *Cell*, which is the first AI virtual cell research work from China ever published on this journal. For the first time, this algorithm maps gene perturbations and chemical drug perturbations to a unified semantic space, solving the long-standing problem of "chemical perturbation × cell-specific response". The core module UniPert has been open sourced, and G2CP applies a transfer learning strategy that conducts pre-training with gene screening data and fine-tuning with chemical screening data. The research covers 4994 genes, 7860 compounds and 5 cancer cell lines, and has realized the full closed-loop verification from prediction to mechanism interpretation in the ESR1 endocrine resistance case.
South Korea's KOSPI Index rises 18%
36Kr learned that on July 31, South Korea's KOSPI Index broke through the 6600-point mark, recording an 18% intraday increase.
Apple CEO: All options for memory supply are under evaluation
Apple's CEO said that the company is evaluating all options related to memory supply to find alternative component suppliers. The memory cost in the fourth fiscal quarter will be higher than that in the third fiscal quarter, and it is expected that the cost of some non-memory components will decline in the fourth fiscal quarter. He also noted that the impact of supply chain constraints on iPhone, Mac and iPad will increase significantly quarter-on-quarter; it would be a good thing if there were more DRAM suppliers. (CLS)
Apple CFO: Expects the year-on-year growth rate of iPhone revenue in the fourth fiscal quarter to reach around 15%
Apple's CFO said that the year-on-year growth rate of iPhone revenue in the fourth fiscal quarter is expected to reach around 15%; the gross margin for the fourth fiscal quarter is expected to be between 47% and 48%, of which tariff rebates will contribute about 1 percentage point; operating expenses for the fourth fiscal quarter are expected to range from 19.1 billion US dollars to 19.4 billion US dollars. He also stated that supply constraints in the fourth fiscal quarter will "intensify significantly". (Cailian Press)
Meta Reports Future Spending Commitments Near $700 Billion, Involving AI Data Centers and Cloud Computing
Meta stated that it has committed nearly $700 billion in future spending through long-term and short-term agreements, covering fields including artificial intelligence data centers and cloud computing. In a regulatory filing on July 30, Meta said the company has $349.3 billion in irrevocable contractual commitments, which are mainly related to third-party cloud service agreements, servers and network infrastructure. The company also has $347 billion in unstarted lease commitments that have not yet been reflected on its balance sheet. Among them, $68 billion was newly added in July alone, and the corresponding payments will start in 2027 and 2028. These costs are in addition to existing active leases, covering data centers, hosting facilities and "part of the network infrastructure". (CLS)
Vanke Elects Xu Enli as Chairman
On July 31, Vanke held its first extraordinary general meeting of shareholders in 2026, which reviewed and approved the proposal on the re-election of the board of directors. The announcement of the resolution of the first meeting of the new board of directors shows that Xu Enli was elected as the company's chairman, and Huang Yu was re-appointed as the company's president. Vanke stated that Xu Enli has long been engaged in enterprise management, has deep experience in the real estate sector for many years, and has served as the head of public listed companies on both the A-share and Hong Kong stock markets. The partnership between Xu Enli and President Huang Yu fits Vanke's corporate characteristics and the needs of the current situation, and is conducive to continuously advancing risk mitigation and development. (Securities Times)
Anthropic Says Its AI Model Accidentally Breached Systems of Three Real-World Organizations During Tests
On local time July 30, artificial intelligence company Anthropic released a report stating that after OpenAI previously disclosed that its model broke through the isolated environment and intruded into Hugging Face's infrastructure, the company launched a large-scale internal self-inspection. The inspection found that during the cybersecurity assessment of the Claude series of models, due to configuration misunderstandings with partners, the environment that was supposed to be isolated was connected to the Internet. The model mistook the real network for a virtual test scenario and intruded into the systems of three companies. (Jiemian News)
CoreWeave adjusts debt arrangements linked to Anthropic's contract amid investor opposition
CoreWeave has made major concessions to win investor subscriptions for its latest $2.6 billion loan, which is backed by the computing power cooperation agreement it reached with Anthropic. This incident highlights that Wall Street's enthusiasm for the artificial intelligence investment and financing boom is fading. People familiar with the matter disclosed that after a week of sluggish subscription demand, the cloud computing company raised the debt yield to nearly 9.1% and added more protective clauses favorable to lenders, which finally facilitated the successful closing of this financing. (Sina Finance)
South Korea is reportedly considering easing labor regulatory requirements for its new semiconductor industrial cluster and scrapping the 52-hour weekly working hour cap
According to informed officials' disclosure on July 31, the South Korean government is evaluating relevant plans to drastically relax labor regulatory requirements for the new semiconductor industrial cluster located in Gwangju, a city in the southwestern part of the country, including relaxing the current 52-hour weekly working hour limit. In addition, the South Korean government is considering extending the calculation cycle of the flexible working hour system from the current 1 month to 6 months. (Sina Finance)
Standardize the management of SIM card sales via internet channels, telecom operators stop SIM card handling services on third-party internet platforms
China Telecom, China Mobile and China Unicom released the "Announcement on Standardizing the Management of SIM Card Sales via Internet Channels" on the evening of July 31. The announcement points out that in order to protect users' rights and interests and data information security, the SIM card ordering business on internet channels will be subject to unified standardization. Starting from August 1, 2026, if users need to order SIM cards through internet channels, they can only go through official channels such as the official apps and official websites of telecom operators, and third-party internet channels will no longer provide services related to telecom SIM card handling. (CCTV News)
Administrative Measures for the Development of Micro Dramas are issued and shall come into force on September 1
According to 36Kr, the Administrative Measures for the Development of Micro Dramas have been adopted at the executive meeting of the National Radio and Television Administration on July 27, 2026, and are now issued for implementation as of September 1, 2026. It is stipulated that before being broadcast, Category I and Category II micro dramas that have been filmed and produced shall apply to the competent radio and television department of the people's government at or above the provincial, autonomous region, or municipality directly under the Central Government level for content review and distribution license. For Category I micro dramas that have passed the review, the competent radio and television department of the people's government at or above the provincial, autonomous region, or municipality directly under the Central Government level shall issue the Micro Drama Distribution License. For Category II micro dramas that have passed the review, the competent radio and television department of the people's governments of provinces, autonomous regions, and municipalities directly under the Central Government shall issue approval documents. Category III micro dramas shall be subject to pre-broadcast review and marked with program numbers by qualified broadcasting entities that perform content management duties.
Prada Group's H1 revenue rises 16%, Miu Miu's growth rate slows down markedly
In the first half of 2026, Prada Group's revenue increased by 16% year-on-year at constant exchange rates to 3.048 billion euros (about 23.7 billion RMB), with an organic growth of 5%, of which the growth in the second quarter was 7%. By brand, Prada's retail sales in the first half of the year rose 3% year-on-year, and the growth rate in the second quarter picked up to 6%, mainly driven by comparable-caliber growth and full-price sales. Miu Miu's retail sales increased by 3% year-on-year, with the growth rate in the second quarter remaining flat with that in the first quarter. Compared with its 49% growth in the first half of last year, the growth rate slowed down significantly. Versace, which the group acquired at the end of 2025, recorded a net revenue of 305 million euros in the first half of the year, with its performance progress in line with expectations. (Jiemian News)
IPO in Progress
Reports say Nscale could launch its IPO as early as this autumn
According to reports, Nscale, an AI infrastructure company backed by NVIDIA, may conduct its IPO as early as this autumn. (CLS)
Data center operator CyrusOne launches IPO preparation
According to people familiar with the consultation who spoke on the condition of anonymity, CyrusOne, the data center operator controlled by private equity giant KKR and Global Infrastructure Partners (GIP) under BlackRock, is preparing to select and hire an investment banking team to prepare for its listing. This IPO is expected to become one of the largest new share issuance projects next year. (Sina Finance)
Large Company Earnings Reports
Sony Group's net profit for the first fiscal quarter reached 342.161 billion yen, up 32.1% year on year
On July 31, Sony Group announced its performance for the first fiscal quarter of fiscal year 2026 ending June 30, 2026. During the reporting period, the company achieved operating revenue of 2.84 trillion yen, representing a year-on-year increase of 8.2%; its operating profit reached 476.499 billion yen, a sharp year-on-year rise of 40.2%; the net profit attributable to shareholders of Sony Group was 342.161 billion yen, up 32.1% compared with 259.027 billion yen in the same period of the previous year. (Jiemian News)
Fortinet: Q2 revenue increased by 26% year-on-year to 2.05 billion US dollars
36Kr learned that Fortinet released its financial report for the second quarter of 2026. The financial report shows that its revenue in the second quarter rose 26% year-on-year to 2.05 billion US dollars; product revenue increased 52% year-on-year to 773 million US dollars; GAAP operating margin reached 34%; non-GAAP operating margin hit 38%.
Black Sesame Technologies: Its revenue in the first half of the year is expected to exceed 458 million yuan, with a year-on-year growth of over 81.1%
On July 30, Black Sesame Technologies released its 2026 semi-annual profit forecast. The announcement states that its revenue in the first half of 2026 is expected to exceed 458 million yuan, representing a year-on-year growth of more than 81.1%; the net loss is expected to be no more than 820 million yuan, which remains basically stable compared with the same period of the previous year. The company boasts strong growth momentum in both the intelligent vehicle and embodied intelligence tracks, and the overall business fundamentals are on a positive trend. In addition, according to the company's announcement, SHAN Jizhang, Founder and CEO of Black Sesame Technologies, has voluntarily extended the share lock-up commitment for the second time. After the original lock-up commitment expires on August 7, 2026, the shares will be locked for another 12 months, which fully demonstrates the management's firm confidence in the long-term development of the company.
Shengda Resources: Net profit of 390 million yuan in H1 2026, up 456.46% year on year
36Kr learned that Shengda Resources announced that its operating revenue in the first half of 2026 reached 1.152 billion yuan, a year-on-year increase of 27.08%. The net profit attributable to shareholders of the listed company stood at 390 million yuan, up 456.46% year on year. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 382 million yuan, up 417.06% year on year. The company plans not to distribute cash dividends, issue bonus shares, or convert reserve funds into share capital.
Investment and Financing
"Zhongke Xinyang" completes 100-million-yuan level financing
36Kr has learned that "Zhongke Xinyang" has announced the completion of a financing of hundreds of millions of yuan. This round of financing is led by industrial investors, with Haiyuan Capital and Longgang Guidance Fund participating as follow-on investors. The funds from this round of financing will be mainly invested in the construction of a synthetic biology platform, to further accelerate the development of multi-chassis cells and the product industrialization process, and complete the strategic layout of bulk biomanufacturing products. Ecapital Partners acted as the exclusive financial advisor for Zhongke Xinyang in this transaction.
"Quantum Dynamics" Completes Seed Round Financing Exceeding 100 Million Yuan
36Kr has learned that Quantum Dynamics, a Physical AI platform company, recently closed a seed round of financing exceeding 100 million RMB, which was jointly invested by Yunqi Partners and SenseTime Guoxiang Capital. The raised funds will be mainly used for core Physical AI technology R&D, talent echelon construction and global market expansion, to accelerate the full-link construction of its physical world-oriented intelligent system from underlying models to scenario-based implementation. Multi-dimensional Capital participated in project incubation and team building.
AI Graph
AI Graph, leads you to interpret the latest and most timely AI information. Kimi K3 has sparked divisions in Silicon Valley, and the parties in the United States generally hold a negative attitude towards Anthropic.
Compiled ｜ Wang Haoyang