9:00 1 Krypton丨The first mobile phone launched by Dreame is priced at over 200,000 RMB, with the signature of its founder Yu Hao; South Korea announces that it will realize the lunar landing mission in 2030; Pang Donglai plans to recruit 20 released prisoners who have served a prison sentence of more than 5 years.
Today's Hot Highlights
- WeChat Moments will not launch the secondary editing function in the future
- Oriental Selection responds after falling victim to "wool-grabbing" style fraud by illegal gray industry chains
- IKEA plans to dispose of the property of its Baoshan store in Shanghai
- Alibaba sells Lingxi Interactive Entertainment to CITIC Capital for over 1.5 billion US dollars
- NVIDIA announces full mass production of CPO switches
TOP 3 Major News
Dreame's first smartphone is priced at over 200,000 yuan: inlaid with 24K pure gold and gemstones, with Yu Hao's signature
On August 13, the person in charge of Dreame's mobile phone business revealed on WeChat Moments that the company has officially delivered the No.001 AURORA smartphone. According to the disclosure, the total transaction amount of 30,000 US dollars (about 202,300 yuan) has been fully received, including a down payment of 10,000 US dollars and a balance payment of 21,184 US dollars. He said that this is "the flagship smartphone with the highest single-unit selling price that has ever been sold in the history of Chinese smartphones". According to the exposed pictures, the back of the phone not only has the signature of Yu Hao, the founder of Dreame, but also comes with a collection certificate with a exclusive serial number. The information on the certificate shows that the phone is made of selected 24K pure gold and inlaid with rare gemstones. (Qianjiang Evening News)
South Korea Announces It Will Achieve Moon Landing by 2030
On August 12, South Korean President Lee Jae-myung held the "Launch Conference for Seven Cutting-Edge Technologies as Future Growth Drivers" at the Blue House, and released the "Seven Cutting-Edge Projects" strategy: to develop a domestically produced 100-qubit computer by 2029, realize moon landing by 2030, promote the commercial deployment of domestic small modular reactors (SMRs) and realize the commercialization of brain-computer interface products by 2035. The seven major directions also cover nuclear fusion, next-generation renewable energy, advanced biotechnology, and critical mineral and material supply chains. Lee Jae-myung said that South Korea must seize the opportunities brought by the current semiconductor industry to get prepared for the post-AI era. (Shangyou News)
Pan Donglai: Plans to Recruit 20 Ex-convicts Who Have Served Sentences of More Than 5 Years
On August 14, Pan Donglai released a pre-announcement for recruiting retired border defense soldiers and released prisoners at its Zhengzhou store. According to the announcement, in this recruitment, Pan Donglai plans to recruit 100 retired border defense soldiers who have made great contributions to the motherland's border areas, and 20 ex-convicts who have served sentences of more than 5 years, and set up a dedicated application submission channel for them. Pan Donglai stated that this move is based on the kindness and beauty of human nature, hoping that people from all groups can gain respect and care from the society, so that everyone can live with dignity, become practitioners and disseminators of civilized and advanced life concepts, live like light, illuminate the lives of more people, and benefit the country and society. According to the introduction, the application and interview processes for the above recruited personnel are the same as those for other applicants. Specific information such as recruitment time, positions, number of vacancies, requirements, and application methods will be officially released through Pan Donglai's official channels at a later stage. (Bianews)
AI Frontier
Anthropic: Q2 Revenue Surged 14 Times Year-over-Year
According to documents viewed by industry insiders, Anthropic PBC disclosed in its presentation to potential investors that the company's operating revenue in the second quarter achieved a staggering growth of about 14 times compared with the same period last year. The documents show that the Claude chatbot developer reported preliminary revenue of more than 11.5 billion USD in the latest completed quarter. By comparison, its revenue in the same period of 2025 was only 787 million USD, while that in the first quarter of this year was 4.73 billion USD. In addition, the documents also show that Anthropic recorded positive adjusted operating profit in the second quarter of 2026. It is learned that the relevant data is still in the internal review stage, and the final results may be adjusted. (CLS)
Zhipu AI Officially Releases GLM-5.3
36Kr learned that Zhipu AI has officially launched GLM-5.3. As introduced, compared with GLM-5.2, the base model of GLM-5.3 remains the same, but its upper intelligence limit has been significantly improved through extreme post-training scaling. GLM-5.3 is the open-source model with the strongest programming capability, which sees a 50% performance improvement over GLM-5.2 in internal self-built sensory evaluation, and ranks first among open-source models in public benchmarks including Terminal Bench 3.0 and Agents' Last Exam (CLI).
Reports say Apple has trained an AI model targeted at the Chinese market
According to people familiar with the matter, Apple has specially trained an AI model for the Chinese market, and the training of this AI model is reportedly supported by Alibaba. (CLS)
OpenAI Appoints Dali Rajic as Chief Revenue Officer
On August 13, OpenAI announced that Dali Rajic will join OpenAI as Chief Revenue Officer, leading OpenAI's global revenue team. The incumbent Chief Revenue Officer Denise Dresser will leave OpenAI after the transition period to pursue other career opportunities. OpenAI stated that the company's products currently have more than 1 billion weekly active users, serving over 2 million enterprises, twice the figure of the same period last year, and Denise has made tremendous contributions to the achievement of all these. (Jiemian News)
Big Companies / Major Events
Want Want Chairman Issues Internal Letter: The Company Is Facing Major Operational Crisis, Those Who Make No Contribution Will Be Eliminated
In early August 2026, Tsai Eng-meng, Chairman of Want Want Group, released an open letter to all Want Want employees. He defined the underperformance in the first quarter of fiscal year 2026 (April to June) as a "major operational crisis", required internal reflection on problems including insufficient product innovation and aging sales channels, and promoted corresponding reforms. Tsai Eng-meng stated, "Want Want employees who have affection for the company should learn a profound lesson from the painful experience. Unreasonable and ineffective expenses must not be spent, and all expenses that can be saved must be treated as money of our own family to cut down; we must bravely and actively try new business practices. What the group needs now are Want Want employees who can make contributions and deliver tangible results! Those who have no output and no achievements will all be eliminated!" (Blue Whale News)
More than 1,700 "maliciously designed misleading trademarks" have been declared invalid
Recently, the official website of the Trademark Office under the National Intellectual Property Administration released a list of "deceptive trademarks declared invalid ex officio". In the published list, some seemingly ordinary terms have been taken as marketing promotion tools by some enterprises. For instance, terms including "Native Pig", "Free-range Chicken", "Hand-rolled" and "Hand-beaten" easily make consumers associate with traits such as free rearing, handmade production and better quality, which constitutes misleading from the perspective of quality and craftsmanship. Trademarks containing terms like "Zero Calorie", "Zero Sugar", "Zero Addition" and "Bright White" easily lead consumers to make associations with specific components or efficacy. Names such as "Hong Kong Pharmacy" and "Tree-ripened" mislead consumers in aspects including the producing area and source of the goods. Up to now, 1782 relevant trademarks have been declared invalid. Experts noted that the purpose of these businesses applying for trademark registration is not simply to get a name, but to register names that indicate the quality, quantity, origin and even functional components of products as trademarks, which brings misleading effects to consumers. (CCTV News)
Walmart has been operating in China for 30 years and has continuously increased its investment in the Chinese market
On August 12, Walmart China held its 30th anniversary event in Shenzhen. At the event, Walmart China held a centralized signing ceremony for cooperation covering five key cities. The signing covers the letter of intent for cooperation on Walmart and Sam's Club business formats in Yantai, Shandong, the cooperation agreements for Walmart stores in Changping of Beijing and Shenyang of Liaoning, as well as the cooperation agreements for Sam's Club stores in Wuhan of Hubei and Nantong of Jiangsu. Focusing on the needs of different regions, Walmart China will continue to expand its dual-format service network. In addition, Walmart China officially unveiled its new employer brand "Start Your Wonderful Journey with Walmart", interpreting its future-oriented development strategy with practical actions. (Brand Special)
Net profit of the company under Yang Zi's family plunged by nearly 60% in H1
On the evening of August 13, Juli Sling Co., Ltd. (002342.SZ) disclosed its 2026 semi-annual report. During the reporting period, the company recorded an operating revenue of 1.309 billion yuan, representing a year-on-year increase of 14.79%; the net profit attributable to shareholders of the listed company reached 3.8001 million yuan, down 59.36% year on year compared with 9.3508 million yuan in the same period of the previous year; the net profit attributable to shareholders after deducting non-recurring gains and losses stood at 10.9998 million yuan, up 96.48% year on year. The company's overall gross profit margin was 18.84%, rising by 0.84 percentage points year on year. The revenue realized double-digit growth, but the net profit attributable to shareholders dropped sharply, and there was an obvious deviation between the non-deducted net profit and the net profit attributable to shareholders. (Jiemian News)
WeChat Official: No Secondary Editing Feature Will Be Launched for Moments in the Future
On August 14, "WeChat Pals", the official WeChat account, published an article titled "Why Is There No Editing Feature for Moments?". It is mentioned in the content that "there will be no secondary editing feature for Moments, not in the past, at present, or in the future". WeChat stated that the English name of Moments is "Moments", which refers to the exact instant at that time. It is precisely the "unalterable" attribute that makes this kind of record absolutely authentic. Rather than letting all users live in a Moments ecosystem where "everything might have been modified", it is more appropriate for users to resolve their misoperations on their own within a few seconds. (Yicai Global)
Xu Can, Senior Researcher of Tencent Hunyuan, Transferred to WeChat WeLM
36Kr has learned from relevant sources that Xu Can, Senior Researcher of Tencent Hunyuan, recently joined the Tencent WeLM team, engaging in work related to large model R&D. Multiple people familiar with the matter revealed that before Yao Shunyu took over the R&D of Tencent's large language model, Xu Can served as the person in charge of one post-training direction in the Hunyuan LLM system. It is worth mentioning that this job transfer occurs at the stage when WeChat continuously strengthens its self-developed large model and Agent capabilities. In June, WeChat's native AI assistant "Xiaowei" has entered a small-scale gray test, which can operate WeChat's native functions via text or voice, and invoke mini-programs to complete service tasks.
Oriental Selection Responds to the "Arbitrage-scalping" Fraud Committed by Black and Gray Industrial Chains
On the evening of August 13, Oriental Selection released a statement, noting that the criminal suspects suspected of maliciously defrauding order refunds from Oriental Selection have been taken compulsory measures by the police. The full statement reads as follows: "Recently, in the daily monitoring of order data, Oriental Selection found a large number of abnormal orders that only requested refunds, involving a considerable amount of funds, which is suspected of being 'arbitrage-scalping' fraud carried out by black and gray industrial chains. The company immediately secured evidence and reported the case to the public security authority, and cooperated with the investigation and evidence collection throughout the whole process. Through the meticulous work of the police, a criminal suspect surnamed Zhang has now been lawfully placed under criminal compulsory measures on suspicion of fraud, and the case is under further investigation. Oriental Selection always upholds the customer-centered principle, continuously improves customer service quality and prioritizes customer experience. Meanwhile, for any act that crosses the legal red line and violates the principle of good faith, we will resolutely safeguard our legitimate rights and interests in accordance with the law with zero tolerance. In the future, Oriental Selection will continue to optimize its risk control system, and step up efforts to investigate and crack down on behaviors including malicious refund claims and professional fraud claims. Thank you for the concern and support from all our customers!" (Yicai)
SK Hynix: The most severe "storage shortage" will be ushered in next year
On August 13, Chey Tae-won, Chairman of SK Hynix, accepted an exclusive media interview at the company's headquarters in South Korea. During the interview, he once again emphasized the explosive growth of storage demand, and stated that the most severe "storage shortage" will occur next year. He also affirmed the importance of its partner NVIDIA in the AI infrastructure wave, and refuted external concerns that SK Hynix is overly dependent on NVIDIA. (Financial Associated Press)
IKEA Plans to Dispose of the Property of Its Baoshan Store in Shanghai
According to Jiemian News, IKEA China recently released a statement on the follow-up arrangements for the property of its Baoshan store in Shanghai. Ingka Group has officially commissioned JLL to act as its agent for the disposal of some self-owned properties of its closed stores in the Chinese market, and the property of the IKEA Baoshan store in Shanghai is included in the list. The IKEA Baoshan store in Shanghai opened in 2013 and was shut down in 2026, having received nearly 30 million visitors in total. IKEA China noted that this self-owned property is located in Baoshan District, Shanghai, with a total construction area of about 105,000 square meters. Currently, all assets inside have been completely cleared with clear property rights, and can be delivered immediately in the existing condition. For the future of the project, it can be explored to be renovated into a community commercial complex, an experiential consumption space integrating cultural tourism elements, or other innovative business forms. (Jiemian News)
Listed Companies Frequently Sell Off Subsidiary Equity for Only 1 Yuan
According to incomplete statistics from reporters, since 2026, more than ten listed companies have successively issued announcements, putting up the equity of their subsidiaries for sale at a nominal consideration of 1 yuan. Most of the underlying subsidiaries whose equity is sold off at a low price have recorded consecutive losses, and many are even in a state of insolvency. In the view of industry insiders, the superficial logic behind such "bargain-price" transfers is mainly that listed companies are eager to strip loss-making assets from consolidated statements, optimize their current financial statements, so as to retain their listing qualification and maintain their normal financing capacity in the capital market. However, the boundary of such transactions is blurred, and greater risks are hidden behind the low-price transfer of non-performing assets. (JIEMIAN NEWS)
NVIDIA Announces Full Mass Production of CPO Switches
On August 14, NVIDIA announced that Spectrum-X Ethernet Photonics has entered the full mass production stage, providing support for the next-generation large-scale scalable network infrastructure oriented to AI factories. NVIDIA stated that Spectrum-X Ethernet Photonics is specially designed for the network demands of gigawatt-level AI factories, which achieves a 4-time reduction in the number of lasers, a 5-time reduction in power consumption, and a 10-time increase in Mean Time Between Failures (MTBI). The manufacturing, packaging and assembly of this product are completed by supply chain partners including TSMC, SPIL, Lumentum, TFC and Hon Hai. (Jiemian News)
Alibaba Sells Lingxi Interactive Entertainment to CITIC Capital for Over 1.5 Billion US Dollars
It is reported that the buyer of Lingxi Interactive Entertainment under Alibaba has been confirmed as Trustar Capital under CITIC Capital, and the transaction price is expected to exceed 1.5 billion US dollars (equivalent to about 10.1 billion RMB). (21 Finance)
Guangdong Province's first special financial product for token economy, "Token Loan", was released in Haizhu, Guangzhou
Guangdong Province's first special financial product for token economy, "Token Loan", was launched in Haizhu District, Guangzhou. Taking Bank of China Guangzhou Branch as an example, it has developed an exclusive financing product tailored for small, medium and micro computing power enterprises in Haizhu, namely Computing Power Token Loan. The credit limit is approved according to the contract/Token consumption quota. It can provide guarantee methods mainly including credit, accounts receivable pledge and order financing, and can also adopt combined guarantees such as surety and mortgage to further increase the credit limit. Newly established enterprises can also apply for financing against orders under the condition that the original operating enterprise provides supporting documents for continuous operation or offers guarantees. It is reported that the trial credit funds of Bank of China have reached 28 million yuan in the early stage. (Jiemian News)
Central Huijin and China Securities Finance Exited the Top 10 Shareholders of Kweichow Moutai
On the evening of August 14, Kweichow Moutai (600519.SH) released its 2026 semi-annual report. The report shows that Central Huijin Asset Management Co., Ltd. and China Securities Finance Co., Ltd. have withdrawn from the top ten shareholders. The previous first-quarter report of Kweichow Moutai showed that Huijin held 10.3971 million shares, accounting for 0.83% of the total share capital, while China Securities Finance held 4.0375 million shares, accounting for 0.32% of the total share capital. In addition, ChinaAMC SSE 50 ETF and Huatai-Pinebridge CSI 300 ETF have both exited the list of top ten shareholders. The report shows that in the first half of 2026, Kweichow Moutai posted a revenue of 90.703 billion yuan, up 1.47% year on year; total profit of 61.438 billion yuan, down 2.13% year on year; net profit of 44.517 billion yuan, down 1.95% year on year. The net cash flow generated from operating activities stood at 70.691 billion yuan, up 438.84% year on year. (21st Century Business Herald)
Rumors of the merger between Tesla and SpaceX have resurfaced, and Elon Musk's incentive compensation may reach as high as 824 billion US dollars
A podcast program points out that if Elon Musk facilitates the merger of Tesla and SpaceX, he may obtain a fortune of up to 824 billion US dollars. According to the compensation plan approved by Tesla last year, Elon Musk can get a maximum of 423 million Tesla shares after meeting the operation targets and market value targets. Wall Street believes that if there is a change of control of Tesla, the operation targets will be deemed to be achieved, and the market value targets will also be easier to reach. (CLS)
Employment in Germany's automotive sector falls to the lowest level in 21 years
Data released by the Federal Statistical Office of Germany on August 14 shows that the number of employees in Germany's automotive industry has continued to decline, and has dropped to the lowest level since 2005 this year. As of the statistical period of this year, the total number of employees in Germany's automotive industry is about 691,500, 42,300 less than that of a year earlier, with a decline of 5.8%. According to Deutsche Presse-Agentur, the employment segments of the automotive industry are the segments with the fastest headcount reduction among all industrial sectors in Germany. In Germany's automotive industry, automotive parts and component suppliers have the largest number of layoffs, with the number of employees decreasing by 7.6% year on year; the number of employees of automobile manufacturers decreased by 6.1%. The number of employees in other industrial sectors in Germany has also decreased, but the decline is relatively small. In the same period, the number of employees in Germany's manufacturing industry decreased by 2.7% year on year to 5.29 million. (Research Institute)
Large US tech stocks generally rise in pre-market trading, with Western Digital up over 6%
36Kr learned that large US tech stocks generally rose in pre-market trading. As of press time, Western Digital rose more than 6%, Intel rose more than 1%, Tesla rose 0.42%, NVIDIA rose 0.31%, Meta rose 0.26%, Microsoft rose 0.23%, Amazon rose 0.18%, Google rose 0.07%, and Apple rose 0.05%.
Financing and Investment
"Liangyuan Xinchuang" Completes Pre-A Round Financing of Several Hundred Million Yuan
36Kr learned that recently, "Liangyuan Xinchuang" announced that it has closed its Pre-A round of financing with a total amount of several hundred million yuan. This round of financing is led by CAS Investment Partners, with participation from institutions including China Merchants Venture Capital and Xianghe Capital. The raised funds will be mainly used for the training of ultra-large-scale embodied intelligent models, the construction of multimodal data infrastructure, the R&D of full-stack software and hardware platforms, and the expansion of teams with high talent density.
Shifang Technology Completes Two Consecutive Rounds of Financing
36Kr has learned that Shifang Technology, an enterprise focused on digital inkjet printing technology for functional coatings in industrial scenarios, has completed two consecutive rounds of financing. From the Series B round to the final close of this Series B+ round, the total financing amount is nearly 300 million yuan. 5Y Capital, Creation Partners, Cowin Capital, industrial strategic investment institution Hengxu Capital, Xiaomi Group and NIO Capital have jointly participated in the financing, with many existing shareholders making synchronous additional investments.
Large Corporate Earnings Reports
Coach's parent company Tapestry reports FY2026 revenue of $8 billion, up 14% year on year
On August 13 local time, Tapestry, the parent company of Coach, announced its fourth-quarter and full-year performance for fiscal year 2026. Its fourth-quarter revenue reached 1.877 billion US dollars, rising 9% year on year; operating profit hit 442 million US dollars, compared with an operating loss of 584 million US dollars in the same period a year earlier. The full-year revenue was 8.004 billion US dollars, up 14% year on year; operating profit recorded 1.914 billion US dollars, compared with 415 million US dollars in the same period of the previous year; diluted earnings per share stood at 7.27 US dollars, versus 0.82 US dollars in the prior year corresponding period. (Jiemian News)
Xiaocaiyuan: Revenue in the first half of the year reached 2.903 billion yuan, a 7.0% year-on-year increase
36Kr learned that Xiaocaiyuan released its 2026 interim performance. During the reporting period, the company achieved a revenue of 2.903 billion yuan, up 7.0% year on year, hitting a new record high in revenue scale; the net profit was 289 million yuan, down 24.3% year on year.
Ping An Bank: Net profit in the first half of the year reaches 25.696 billion yuan, up 3.3% year on year
36Kr has learned that Ping An Bank announced in its official filing that its operating revenue in the first half of 2026 was 70.617 billion yuan, up 1.8% year on year. The net profit attributable to the bank's shareholders stood at 25.696 billion yuan, rising 3.3% year on year, while the net profit in the same period of the previous year was 24.87 billion yuan. The interim profit distribution plan is to pay a cash dividend of 2.49 yuan (inclusive of tax) for every 10 shares.
Kweichow Moutai: Operating revenue in the first half of the year hit 90.703 billion yuan, with a year-on-year increase of 1.47%
36Kr learned from the announcement of Kweichow Moutai that the company achieved operating revenue of 90.703 billion yuan in the first half of 2026, rising 1.47% year on year; its net profit reached 44.517 billion yuan, dropping 1.95% year on year.
Shengyi Technology: Net profit increased by 130.42% year-on-year in the first half of the year
36Kr learned from the announcement of Shengyi Technology that it achieved an operating revenue of 190.26 billion yuan in the first half of 2026, with a year-on-year growth of 50.05%; the net profit attributable to shareholders of the listed company was 32.87 billion yuan, a year-on-year increase of 130.42%.
Tapestry: Fourth Quarter Sales Reached USD 1.9 Billion, Up 9% Year-on-Year
36Kr learned that Tapestry Group announced its fourth quarter and full-year performance for fiscal year 2026 ending on June 27, 2026. Its fourth quarter sales stood at USD 1.9 billion, up 9% year-on-year and 11% at pro forma constant exchange rates, which was mainly driven by the 15% performance growth of the COACH brand (14% calculated at fixed exchange rates). For the full fiscal year 2026, total sales hit USD 8 billion, up 14% year-on-year, and growing by 17% at pro forma constant exchange rates.
Ongoing Listing Process
Transsion's Hong Kong Stock Exchange Listing Obtains Filing Approval from CSRC
On August 14, the International Cooperation Department of the China Securities Regulatory Commission released the filing notice for the overseas offering and listing of Shenzhen Transsion Holdings Co., Ltd. The company plans to issue no more than 132,386,200 overseas-listed ordinary shares and get listed on The Stock Exchange of Hong Kong Limited. (Jiemian News)
Youbang Technology's ChiNext IPO is scheduled for the review meeting on August 21
36Kr has learned that the Listing Examination Committee of the Shenzhen Stock Exchange will convene its 53rd 2026 listing review deliberation meeting on August 21, 2026, to review the IPO application of Dongguan Youbang Material Technology Co., Ltd.
Compiled | Putao