8:1 Kr | Xianyu responds to the claim that "porn-related industrial chains are secretly hidden on the platform"; after rumors of Xibei's closure spread, Jia Guolong releases his latest public statement; AMD's total market value exceeds 1 trillion US dollars for the first time

Today's Hot Highlights

• OpenAI urges the United States to take the lead in formulating global standards for artificial intelligence
• Zhong Nanshan's team has discovered a new trend in the incidence of pulmonary nodules
• Jensen Huang: Nothing makes me happier than being able to pay more taxes
• Douyin tests the fund jump entry
• The Pentagon's "Pizza Index" has skyrocketed
• The market value of A-share "stock king" Lianxun Instruments has evaporated by more than 40 billion yuan from its peak

TOP 3 Major News

Xianyu's Response to Pornography-related Issues: Setting up a Special Task Force to Crack Down on Pornographic Traffic Diversion and Calling for Joint Actions Across All Platforms

36Kr learned that in response to the media-exposed problem of hidden pornography-related industrial chains on the platform, Xianyu stated that it firmly says no to illegal acts of traffic diversion and fraud using pornographic content. It has set up a special task force and established a comprehensive prevention and control governance mechanism of "pre-identification - immediate disposal - police-enterprise linkage" to carry out resolute crackdowns. Since January 2026, Xianyu has frozen a total of 98,358 risk accounts related to pornographic traffic diversion. Xianyu has proactively transferred relevant clues to public security departments, and has successfully cracked down on 15 pornographic gangs through police-enterprise collaboration since the beginning of this year.

Jia Guolong's latest remarks after rumors of Xibei's collapse spread

On September 21, The Paper learned that at a meeting held on September 20, Jia Guolong, founder of Xibei, delivered a speech noting that from the perspective of private entrepreneurs and combined with the painful lessons Xibei has experienced, he put forward several insights and appeals. "We urge the regulatory authorities to further clarify the speech boundaries of high-traffic online accounts, and distinguish normal public opinion supervision and opinion debates from malicious denigration, commercial defamation and online soft violence." Jia Guolong stated in the speech that it is necessary to regulate the behavior of subjects who hold huge traffic, when disputes occur, bypass legitimate legal channels such as industry administrative complaints, mediation and litigation, and instead publicly incite public opinion on the internet, build momentum through reward offers, target specific individuals to provoke conflicts, and even implicate and crack down on the partners of the parties involved. (The Paper)

AMD's total market capitalization exceeds 1 trillion US dollars for the first time

Advanced Micro Devices (AMD) saw its intraday gain on the U.S. stock market expand to 9.5%, with its share price breaking through 613 US dollars and its total market capitalization exceeding 1 trillion US dollars for the first time, making it one of the semiconductor companies worldwide with a market capitalization of over 1 trillion US dollars. As of local time September 21, 2026, the closing price was 615.52 US dollars, up 55.70 US dollars, with an increase of 9.95% (CLS)

Cutting-edge AI Frontier

OpenAI urges the United States to take the lead in formulating global standards for artificial intelligence

OpenAI is urging the United States to take the lead in working with other countries to set standards for cutting-edge artificial intelligence (AI), in response to growing concerns over the potential harms of AI. OpenAI said in a blog post on Monday that in order to develop artificial intelligence safely, it is necessary to establish international technical standards, which can specifically help define which types of incidents involving AI models should be notified, clarify how countries can cooperate in AI development, and improve access to the computing power required to develop such technologies. "To ensure that the continuous advancement of AI is safe and beneficial, we need to not only promote alignment research, but also formulate common standards to guide AI development for all laboratories and all countries," OpenAI said. (Sina Finance)

Zhipu's Response to Data Privacy Controversy: ZCode is About to Be Officially Open-Sourced, and Security Audits Will Be Launched

ZCode, which has recently been embroiled in data privacy and security controversies, is about to usher in open sourcing. Zhipu stated that this open sourcing is the first step to respond to external concerns about ZCode's data processing. In the future, it will further promote ZCode to move towards more thorough community-based development, and welcome external parties to download and inspect the code and participate in the improvement together. In terms of security, Zhipu revealed that it has invited the China Academy of Information and Communications Technology to conduct security audits on ZCode, focusing on verifying data retention. In the future, a normalized product security vulnerability reporting mechanism will also be established, welcoming developer partners to jointly inspect and give feedback on problems, and the platform will give corresponding rewards according to the severity level of the problems. (The Paper)

Amazon officially announces integration of Kimi K3, marking the official launch of Kimi's revenue-sharing model with overseas cloud vendors

36Kr has learned that Amazon Bedrock, the large model service platform under Amazon Web Services (AWS), recently announced the integration of the open-source large model Kimi K3, which can be directly invoked by global enterprise developers via Bedrock. The previously rumored revenue-sharing cooperation between Kimi and overseas cloud vendors has officially been implemented. It is understood that Moonshot AI is advancing revenue-sharing cooperation with a number of overseas cloud vendors: cloud vendors list the Kimi model on their platforms and share revenue with Moonshot AI based on model invocation volume. This is the first time a Chinese large model company has exported model capabilities to the world's top three cloud vendors under a revenue-sharing model.

Elon Musk's SpaceXAI Releases Grok 4.7 Model

On September 21 local time, SpaceXAI under Elon Musk officially released the Grok 4.7 model, which is priced at 2 US dollars per million input Tokens. (Jiemian News)

Kimi Code Desktop Client Launched

36Kr has learned that the official Kimi Code desktop clients for macOS and Windows have been launched simultaneously. Targeting developers' actual workflows, the desktop version also provides functions including built-in terminal, browser and Git status check, supports direct running and debugging of projects, reviewing code changes and associating PR status, which makes it convenient to track the progress of code review and merging.

Major Companies / Key Events

Tesla's robotics team conducts factory audits in the Yangtze River Delta, and a number of enterprises have received relevant orders

The event that Tesla's robotics team carries out factory audits in Ningbo has attracted extensive attention from the capital market. Sources from the industrial chain stated that Tesla's robotics team has launched factory audit work at supply chain enterprises including Tuopu Group, Sanhua Intelligent Controls, Joyson Electronics and other relevant enterprises last week. The above-mentioned enterprises mainly supply core electromechanical components such as joint modules, actuators and precision structural parts. "Before this factory audit, all these enterprises have obtained orders for Tesla's humanoid robots, the only difference lies in the order quantity. The factory audit will conduct assessment on the quality of relevant production lines, compliance and other aspects, and the production will start soon after the audit is passed." The above-mentioned person added. (The Paper)

Zhong Nanshan's team identifies new trends in the incidence of pulmonary nodules

In August 2026, a study published by Zhong Nanshan's team in the international journal *Advances in Cancer Science* conducted 2 to 3 years of follow-up on more than 10,000 people with incidentally detected pulmonary nodules, and the participants were recruited from 23 hospitals across 16 provinces in China. Through the big data of these over 10,000 subjects, the research team found a very distinct new trend in the onset of incidental pulmonary nodules:

Females account for 56.56% with a median age of 53, while the median age of male participants is 55; never-smokers make up 71.34% of all subjects, among which the proportion of female non-smokers is as high as 97.1%, and the proportion of male non-smokers also reaches 37.8%; 71.10% of the participants have a history of secondhand smoke exposure. In this study, the majority of people affected by pulmonary nodules are female, and the majority of them have never smoked. In addition, the age of onset in women is earlier than that in men. (People's Daily)

Jensen Huang: Nothing makes me happier than being able to pay more taxes

NVIDIA CEO Jensen Huang said in an interview on Sunday that he would not mind paying billions of dollars in extra taxes if the U.S. state of California votes to pass the proposed "billionaire tax" this fall. "It is a privilege to be able to afford to pay 8 billion U.S. dollars in taxes over five years," Jensen Huang said. "I regard it as both a privilege and a responsibility. Nothing makes me happier than being able to pay more taxes." "I'm not afraid of paying taxes — I'm only afraid of being poor," he said. (CLS)

Douyin Pilots Fund Jump Entry

As the Measures for the Administration of Online Marketing of Financial Products is about to be implemented, Douyin has quietly launched the fund purchasing function. A field test by a reporter from Jiemian News found that users can enter the wealth management page by clicking "My Wallet", where the fund access entry has been launched at the very bottom of the page. Users will be directed to the fund page after clicking, which is equipped with five sub-menus including current wealth management, bank certificates of deposit, prudent wealth management, dividend funds and income-oriented products, corresponding to multiple types of public offering products such as money market funds, bond funds, fixed income plus products, active equity funds and QDII respectively. However, as Douyin does not hold a fund sales license, users will be redirected to the account opening page of Huatai Securities when clicking on the specific product details. Apart from Huatai Securities, users can also choose to open accounts at two other brokerages including Zheshang Securities and CICC Wealth Management. (Jiemian News)

Alipay announces organizational restructuring and new appointments

Shanghai Science and Technology Innovation Board Daily reported on the 21st that Han Xinyi, CEO of Ant Group, released an all-staff letter announcing the organizational adjustment and personnel appointments of Alipay. Per the adjustment, the Alipay Business Group, Digital Payment Business Group and Zhima Credit Division will be integrated to form a brand-new Alipay Business Group. Wu Minzhi will serve as the President of the new Alipay Business Group, and concurrently hold the position of CPO of Ant Group. Wu Minzhi joined Ant Group in August 2021. Before that, she had worked at Alibaba Group for more than 20 years, successively taking positions including President of Alibaba International Trade Business Group, President of B2B Business Group, and Chief Customer Officer of Alibaba. (Shanghai Science and Technology Innovation Board Daily)

Alibaba Appoints Liu Dayiheng as New Head of Qwen LLM Team

According to two insiders, Alibaba Group has appointed senior AI researcher Liu Dayiheng as the head of the Qwen large language model project. People familiar with the matter stated that after several rounds of organizational restructuring earlier this year, Liu Dayiheng's appointment has further clarified the management structure of the Qwen team. Alibaba's annual Yunqi Conference will open on Tuesday. On the guest speaker list page of the conference's official website, Liu Dayiheng's portrait is arranged in a very prominent position, right after Group Chairman Joseph Tsai and CEO Wu Yongming. His position is marked on the official website as the head of the Qwen large language model project. (Sina Finance)

People's Bank of China Holds Symposium for Foreign-funded Financial Institutions

36Kr learned from the official website of the People's Bank of China that on September 21, the People's Bank of China held a symposium for foreign-funded financial institutions, to collect opinions and suggestions from foreign-funded financial institutions, and study the work of further optimizing the business environment and promoting high-level opening-up of the financial industry. At the symposium, Pan Gongsheng introduced the current Chinese economic and financial situation and the implementation of monetary policy, listened to opinions and suggestions, and exchanged views and responded to issues of concern of all institutions. Pan Gongsheng said that the overall operation of China's economy is stable and positive, the structure is continuously optimized, and new progress is constantly being made in high-quality development. The People's Bank of China will conscientiously implement the decisions and arrangements of the CPC Central Committee and the State Council, implement a moderately loose monetary policy, and create a favorable monetary and financial environment for stable economic growth and smooth operation of the financial market. It will continue to promote high-level opening-up of the financial sector, continuously improve policy supply, steadily expand two-way opening-up of the financial market, continuously optimize cross-border payment services, and make the international use of RMB more convenient. All foreign-funded financial institutions believe that since the beginning of this year, a series of measures taken by the People's Bank of China in deepening the reform and opening-up of the financial industry, optimizing the business environment, and facilitating the international use of RMB have made positive progress. They hope to continue to optimize relevant policies and strengthen communication with the market.

The market value of Lianxun Instruments, the "stock king" of the A-share market, has shrunk by more than 40 billion yuan from its historical peak

On the afternoon of September 21, high-priced A-shares were generally in a weak performance. The "stock king" Lianxun Instruments once dived by more than 7% during the trading session, and by 13:21, its decline exceeded 6%, with the latest market capitalization standing at 236.7 billion yuan. Compared with the previous trading day, its market value lost nearly 16.7 billion yuan in half a day; compared with its all-time high of 277.2 billion yuan, it has corrected down by more than 40 billion yuan. In addition, Yuanjie Tech, Pinzhun Laser, Naura, Hengdong Optics, Unitree Robotics-W and Jingzhida all saw successive declines. (21st Century Business Herald)

Monitor prices have also started to rise, with some products recording a 13.49% increase over 90 days

According to Jiemian News, after the prices of memory modules and solid-state drives rose sharply, the upward price pressure is accelerating to transmit to the downstream of the industrial chain, and monitor prices have shown obvious rising signs. The reporter checked a monitor of the brand Titan Army on the Dewu APP, and the data of the latest 90 days shows that the price of this product has increased from 482 yuan to 547 yuan, with a rise of 65 yuan and an increase rate of about 13.49%. The reporter inquired about a KTC display on JD.com. Data from the Manmanmai APP shows that this product once dropped to a nearly 60-day low of 1064.34 yuan on August 20, and has been on the rise since September 10, with the latest price reaching 1199.7 yuan. The customer service of KTC's official flagship store on JD.com responded that prices will change due to promotion intensity or market fluctuations, and some products may experience price increases or decreases. (Jiemian News)

Bitcoin breaks through $85,000

Market data shows that as of September 21, Bitcoin has risen to $85,004.4, marking a 5.56% increase in the past 24 hours; Ethereum has climbed to $2743.67, up 6.17% in the past 24 hours. (CLS)

Sichuan University: Those who have bad consumption-related habits such as smoking will be disqualified from the tuition fee reduction qualification

Recently, Sichuan University issued the Notice on Carrying out the Tuition Reduction Work for Undergraduates in the 2026-2027 Academic Year, which clearly states that anyone under any of the following circumstances will be disqualified from tuition reduction: 1. Those who violate national laws or school rules and regulations and are given disciplinary sanctions. 2. Those who practice fraud when providing relevant certificates or filling in relevant materials. 3. Those who have bad consumption-related habits such as smoking, excessive drinking, internet addiction or other similar bad habits. 4. Those who fail to meet other conditions for tuition reduction. (Jiemian News)

Volkswagen removed from European blue-chip index

For the first time in 15 years, Volkswagen has been excluded from the most important blue-chip index in the eurozone. Traders said the move could further intensify the downward pressure on the German automaker's stock price. Volkswagen's share price has plummeted by more than three quarters from its peak during the 2021 stock market rally, and is currently lingering at a level not seen for roughly 16 years. The index bills itself as a tracker of "leading enterprises" across all sectors in the eurozone. This not only underscores the threat the rise of low-cost competitors poses to the automotive industry, but also reflects the market's skepticism over Volkswagen's historic restructuring plan, which will cut 100,000 jobs. Analysts noted that as exchange-traded funds (ETFs) tracking the index sell off their positions, Volkswagen's removal from the index may put more pressure on its share price. (The Financial Associated Press)

Audi's German headquarters blocks AUDI models from entering the German market? SAIC Audi issues response

On September 21, Xie Shiqi, the head of SAIC Audi, released a public statement to clarify the recent widely spread online claim that "Audi's German headquarters blocks AUDI models from entering the German market" as well as related reports about overseas parallel-imported AUDI vehicles. Xie Shiqi noted in the statement that some relevant reports quoted remarks from Audi spokespersons published by foreign media, which belong to the category of after-sales services. The remarks essentially convey that Audi is unable to provide after-sales service guarantees for non-officially supported parallel-imported AUDI vehicles, as such parallel-imported vehicles are classified as third-party vehicles, which does not constitute a denial of recognition of the brand. For those excessive and out-of-context remarks, the team will collect evidence and take corresponding legal actions. (Jiemian News)

AI Infrastructure Faces Community Backlash, $68 Billion U.S. Data Center Projects Are Blocked

According to reports, research institution Data Center Watch stated on local time September 21 that between April and June this year, around 45 data center projects in the United States with a total value of 68 billion U.S. dollars have been halted or postponed due to local opposition. At present, communities in many regions across the U.S. are pushing for the introduction of bans that suspend data center construction, and relevant actions are often launched before developers formally apply for permits. The report from Data Center Watch shows that relevant regulations involving data center site selection, power supply and water use issues have been proposed or passed in the legislatures of about 30 states. (Jiemian News)

Jensen Huang: Be wary of AI doomsday narratives, as some people aim to seek exemption from existing legal regulations

NVIDIA CEO Jensen Huang directly pointed out that Ray Dalio and Sam Altman are building momentum with the "runaway artificial intelligence" narrative to avoid huge litigation risks under existing laws. "Don't let this kind of doomsday rhetoric allow them to be exempted from existing laws. Read between the lines: they are not actually asking for new laws, but want to get rid of the legal constraints we already have right now." (Sina Finance)

Paramount Skydance Reaches Settlement with 12 States Over Warner Bros. Acquisition Deal

On September 21 local time, Paramount Skydance Corporation has reached a settlement agreement with the State of California in the United States and 11 other states. These states had previously filed lawsuits seeking to block the $110 billion merger deal between the company and Warner Bros. Discovery. This settlement has cleared obstacles for the merger of the two Hollywood giants. It is reported that California Attorney General Rob Bonta announced the settlement at a press conference held in Los Angeles that day.

This decision is the latest progress in Paramount Skydance's process of seeking to acquire Warner Bros. Discovery. If the transaction is completed, the combined entity will become one of the largest and most powerful companies in the entertainment industry. (CCTV News)

The proportion of people aged 65 and above in Japan hits a record high

According to the population projection data released by Japan's Ministry of Internal Affairs and Communications on September 20, as of September 15, the number of people aged 65 and above in Japan is approximately 36.24 million, accounting for 29.6% of the total population, marking the highest proportion on record. (Xinhua News Agency)

The Pentagon's "Pizza Index" Surges

On September 19, the U.S. embassies in multiple Middle Eastern countries issued security alerts, stating that due to the tense situation in the Middle East, the security environment remains complex and there is a possibility of unforeseen situation escalation. Americans in the Middle East should "remain highly vigilant" and pay attention to situations such as flight cancellations, airspace closures and travel disruptions. On the same day, data released by the U.S. "Pizza Index" tracking website showed that the number of orders at pizza restaurants near the Pentagon surged that day. According to previous reports from U.S. media, the "Pizza Index" estimates whether the U.S. Department of Defense has overtime work by tracking the number of orders at pizza shops near the Pentagon, so as to predict U.S. military operations. Before military operations such as Operation Desert Storm and the U.S. military's air strikes on Iran's nuclear facilities, there had been a surge in orders at pizza shops near the Pentagon. (Global Times)

HKEX Proposes to Raise the Threshold of Major Transactions to 50%

On September 21, Hong Kong Exchanges and Clearing Limited (HKEX) released the consultation document titled "Review of the Competitiveness of the Listing Regime (Phase 2)", proposing to adjust the regulatory rules for discloseable transactions, connected transactions and spin-off listings of listed issuers. Among them, the significance threshold for defining major transactions is proposed to be raised from the current 25% to 50%. According to the proposal, any transaction with a percentage ratio reaching 25% but lower than 50% will be classified as a discloseable transaction, and the requirements for circulars and shareholder approval will be replaced by enhanced announcement disclosure requirements.

HKEX stated that this reform aims to assist listed issuers in carrying out corporate transactions in a more flexible and efficient manner, while providing solid protection for investors and maintaining market confidence. (21st Century Business Herald)

Global shipments of quadruped robots reached 35,000 units in the first half of 2026, with industry scenarios underpinning long-term growth space

36Kr learned that according to the data from Counterpoint, in the first half of 2026, the global shipment volume of quadruped robots is close to 35,000 units, 40% of which are used in industrial application scenarios. The explosive demand in various vertical industries will continuously drive the growth of the quadruped robot industry. Relying on its first-mover advantage in the cultural, entertainment, science and education track, Unitree occupies the leading position in the overall market. In the industrial application field with more considerable long-term growth potential, Agibot Kuto and DeepRobotics rank first and second respectively. The continuous growth of industry application demand coupled with the advancement of embodied intelligence technology is expected to push the market size to exceed 100 billion U.S. dollars by 2030.

Shanghai Stock Exchange: Will Keep Close Watch on Shengu Group

On September 21, the Shanghai Stock Exchange issued a notice on the relevant situation of Shengu Group: Since Shengu Group (601091) was listed on September 17, 2026, its stock price has fluctuated sharply. Some investors have engaged in abnormal trading behaviors that undermine the normal order of stock trading during the process of trading this stock, and the Shanghai Stock Exchange has continuously imposed self-regulatory measures on investors in violation of relevant rules. The company has released a risk warning announcement, reminding all investors to make rational decisions and invest prudently.

On September 21, the trading of this stock triggered two intraday temporary trading halts. The Shanghai Stock Exchange will continue to pay close attention to the trading of this stock in the early stage after listing, and take self-regulatory measures in accordance with relevant regulations. (Jiemian News)

*ST Yuandao: Receives the Decision on Termination of Stock Listing

36Kr learned that on September 21, *ST Yuandao (301139.SZ) announced that the company has received the delisting decision from the Shenzhen Stock Exchange. Due to the existence of false records in the disclosure documents for its initial public offering of shares, it has triggered the relevant circumstances for termination of listing stipulated in the Listing Rules for the Growth Enterprise Market Stocks. The company's shares will resume trading on September 30, 2026 and enter the delisting arrangement period for 15 trading days, and the estimated last trading date is October 27.

Galaxy Microelectronics: Plans to Invest 1.078 Billion Yuan in the High-end Core Device Industrialization and Innovation Capacity Building Project

36Kr learned from the announcement of Galaxy Microelectronics that in order to improve the manufacturing and processing capacity of discrete integrated circuit devices and expand the production scale of such products, the company plans to invest 1.078 billion yuan of its own or self-raised funds to implement the "High-end Core Device Industrialization and Innovation Capacity Building Project". The construction period of the project is 3 years, and the expected start date is January 1, 2027.

Zhipu AI Increases Its Registered Capital to Approximately 48.76 Million

36Kr learned from Tianyancha App that Beijing Zhipu Huazhang Technology Co., Ltd. affiliated with Zhipu AI has recently completed industrial and commercial changes, with its registered capital rising from about 46.56 million RMB to about 48.76 million RMB. Founded in June 2019, the company has Liu Debing as its legal representative. Its business scope includes basic artificial intelligence software development, artificial intelligence application software development, data processing and storage support services, data processing services, information technology consulting services, artificial intelligence theory and algorithm software development, digital content production services, big data services, etc. It is jointly held by Tang Jie, Tianjin Sankuai Technology Co., Ltd., Guangxi Tencent Venture Capital Co., Ltd. and other shareholders.

Longsys Completes Share Repurchase Plan

Longsys, the leading A-share storage enterprise, announced that the company previously planned to repurchase shares with a total amount of no less than RMB 400 million and no more than RMB 800 million, and the maximum repurchase price was RMB 735 per share, for the purpose of equity incentive or employee stock ownership plan. From September 8, 2026 to September 18, 2026, the company actually repurchased 2.2906 million A shares, accounting for 0.53% of the total A-share share capital, with a total transaction value of RMB 800 million (including transaction fees). This share repurchase plan has been fully implemented. (CLS)

Wai Wai Tat Holdings introduces Terminus as its strategic shareholder with a total consideration of HKD 3.186 billion

36Kr has learned from the announcement of Wai Wai Tat Holdings that the company will issue 1.18 billion new shares to Nova Scope Ventures Limited at the price of HKD 2.7 per share, with the total consideration reaching around HKD 3.186 billion, to bring in Terminus as its AI strategic shareholder. This transaction is classified as a long-term major investment of the company. After the transaction is completed, Terminus will become a major shareholder of Wai Wai Tat Holdings. The two parties will rely on their respective industrial and technological advantages to realize in-depth strategic synergy, and further deepen the layout of the domestic AI industry.

The three major U.S. stock indexes closed higher collectively, with Intel up more than 12%

36Kr learned that at the close of September 21, the three major U.S. stock indexes rose collectively: the Nasdaq rose 2.26%, the S&P 500 rose 1.49%, and the Dow Jones Industrial Average rose 0.71%. Large tech stocks strengthened across the board: Intel rose more than 12%, Meta rose more than 11%, Tesla rose more than 3%, NVIDIA rose more than 2%, Amazon, Microsoft and Google rose more than 1%, and Apple posted a slight increase. Most popular Chinese concept stocks went up while a few declined: Baidu and Alibaba rose more than 2%, Bilibili, JD and NetEase rose more than 1%, Pinduoduo and NIO rose slightly, Li Auto fell more than 5%, and Xpeng Inc. fell more than 1%.

U.S. retail diesel prices have officially broken through the $6.50 per gallon mark, hitting a new all-time nominal high in history

According to the latest data released by the American Automobile Association (AAA), the national average retail diesel price across the United States has soared to $6.5050 per gallon, becoming a brand new peak of national diesel prices. (Sina Finance)

Ongoing Listing Process

Robotechnology: Proposes Global Offering of 11.876 Million H Shares, with the Maximum Issue Price No More Than HK$436

36Kr learned from the announcement released by Robotechnology on the Hong Kong Stock Exchange that the company plans to globally offer 11.876 million H shares, including 1.1876 million H shares for Hong Kong public offering and 10.6884 million H shares for international offering. The maximum issue price is HK$436.00 per share, and the shares are expected to commence trading on The Stock Exchange of Hong Kong on September 29, 2026.

Benmo Technology: Proposes Global Offering of 50 Million H Shares at an Issue Price of HK$21.60

36Kr has learned from the announcement filed by Benmo Technology with the Hong Kong Stock Exchange that the company plans to globally offer 50 million H shares, including 2.5 million H shares for Hong Kong public offering and 47.5 million H shares for international offering. The issue price is set at HK$21.60 per share, and the shares are expected to start trading on The Stock Exchange of Hong Kong on September 29, 2026.

Kinwong Electronics: Plans to Globally Offer 72.9443 Million H Shares, With the Maximum Offer Price No Higher Than HK$69.88

36Kr has learned that Kinwong Electronics released an announcement on the Hong Kong Stock Exchange, stating that the company plans to conduct a global offering of 72,944,300 H shares, consisting of 7,294,500 H shares for the Hong Kong offering and 65,649,800 H shares for the international offering. The maximum offer price is HK$69.88 per share. The shares are expected to start trading on the Stock Exchange of Hong Kong on September 29, 2026.

Investment and Financing

Stellarator enterprise "Honghu Future Energy" completes financing of hundreds of millions of yuan

Recently, stellarator enterprise "Honghu Future Energy" announced that it has closed a financing of hundreds of millions of yuan, with joint participation of institutions including Shanghai Future Industry Fund, Social Security Fund Zhongguancun Independent Innovation Special Fund (managed by Legend Capital), Photosynthetic Venture Capital, SJTU Parent Fund, Shanghai Futeng Capital, Shanghai Minjin Investment, YoVentures, Xinlian Capital, Yunqi Capital, DT Capital, Hongfu Assets, Qigao Capital, Renzhi Capital, MiraclePlus, etc. Dr. Dai Lizhong, an early investor of the company, also continued to increase his stake. The proceeds from the financing will be used for the R&D and construction of the "Honghu Zhiyuan No.1" high-temperature superconducting stellarator, team expansion and daily operation of the company.

Cool Products

Jia Yueting Unveils Nine Robot Products

Recently, FF under Jia Yueting held a new product launch event, launching 9 EAI robot products at one time, covering three major forms: humanoid, quadruped and wheeled-arm, with retail prices ranging from 9,990 US dollars to 137,900 US dollars. The top-spec model is equivalent to a maximum of 920,000 RMB after conversion, and can be directly sold and delivered to the public immediately after the release. There are 5 core models and 9 configurations in total this time. In addition to the hardware products, 4 sets of industry solutions are also launched synchronously, targeting K12 education, scientific research, security and inspection scenarios respectively. The team does not only produce demonstration prototypes, but directly targets real application scenarios such as schools, factories, industrial parks and mines.

Compiled by | Li Qi