8:00 36Kr | International gold price has corrected, the per-gram price of gold jewelry has plunged by around 150 yuan; only 3 stocks with a share price of over 1,000 yuan remain on the A-share market; all 7-Eleven outlets in India have been shut down.

Today's Hotspot Guide

• Yue Wannianqing: Clarified that Chairman Ou Xiantao is not involved in the flight conflict rumor and has filed a police report for handling
• All 7-Eleven stores in India are fully closed
• The 2026 Nobel Prize in Literature is announced
• Tencent is reportedly considering issuing up to 5 billion US dollars of offshore bonds
• Sources say Samsung will cut the production of mobile phones by up to 30% in the fourth quarter
• Manus completes a new round of financing of more than 500 million US dollars

Top 3 Major News

International gold prices have posted a notable pullback, and the per-gram price of gold jewelry has plunged by roughly 150 yuan

Recently, international gold prices have experienced a significant correction. COMEX gold futures fell below $4,200 per ounce, domestic Shanghai gold broke through the 900 yuan per gram threshold, and the price of branded gold jewelry has fallen by a total of around 150 yuan per gram from its high point. Driven by the downward trend of gold prices, the quoted price of gold jewelry at Shenzhen Shuibei has dropped back to 1061 yuan per gram.

The gold price correction combined with holiday promotions has brought a gold-buying boom for non-local tourists to this country's largest gold and jewelry distribution center. A gold shopping guide said that during the National Day holiday, he received at least 30 to 40 groups of out-of-town customers to Shuibei to buy gold every day. Meanwhile, the number of "international faces" in the Shuibei market is quietly on the rise, and diamond jewelry as well as high-quality gold jewelry are particularly favored by overseas tourists. (CCTV Finance)

There are only 3 A-share stocks priced above 1000 yuan: Lianxun Instruments, Source Photonics, Kweichow Moutai

Affected by the decline of the semiconductor and communication sectors, tech stocks that take up the largest proportion in the high-priced stock group generally fell on October 8. Among them, Cambricon dropped by nearly 3%, closing at 981 yuan. Its closing price fell below the 1000-yuan mark again after nearly one and a half months. Up to now, the number of stocks priced above 1000 yuan in the whole market has decreased to 3, which are Lianxun Instruments (1420 yuan), Source Photonics (1290.40 yuan), and Kweichow Moutai (1255.79 yuan) respectively.

Counted from the dimension of stocks priced above 100 yuan, the related index hit a new low in nearly 2 months since August 4 during the trading session on the 8th, and is about to approach the phased low recorded on July 30, with a cumulative retracement of nearly 12.95% in the latest 7 trading days. In terms of specific individual stocks, a total of 23 stocks including Changguang Huaxin, Source Photonics, VeriSilicon, Hongjing Technology, Dongshan Precision, BPSemi, Liante Technology, Youxun Co., Ltd., SJ Photonics, and Dingtong Technology have seen their prices drop by more than 20% in the latest 7 days. (CLS)

All 7-Eleven stores in India are fully closed

Japanese retail giant Seven & I Holdings released a statement on October 6, noting that all outlets of its convenience store chain brand 7-11 in India have been shut down. Japanese media stated that 7-Eleven withdrew from the Indian market as it failed to outcompete local rivals. (CLS)

AI Frontiers

Nvidia-backed AI data center company Firmus encounters obstacles in its listing process

Australian AI data center operator Firmus Grid backed by Nvidia originally planned to raise up to 5.5 billion US dollars through an Initial Public Offering (IPO), which was expected to become one of the largest IPOs in Australian history. However, as investors' concerns about the company's post-listing stock performance and the potential selling pressure from existing shareholders intensify, Firmus's listing plan is facing growing uncertainties.

On October 8, the company completed the IPO inquiry and bookbuilding process as scheduled, but the final offering price and transaction structure are still unclear. Affected by related news, the share price of Maas Group Holdings, an existing shareholder of Firmus, plummeted by 30% at one point during the Sydney trading session, marking the largest drop on record for the stock. (Sina Finance)

Big Companies / Major Events

JAC Motors Responds to the Brake Pedal Bracket Fracture Issue of Zunjie V800

On October 8, in response to the brake pedal bracket fracture incident of Zunjie V800, the relevant person in charge of JAC Motors told reporters that the company has noticed this incident, which is currently under investigation with multiple tests being conducted from all parties, and an official announcement will be released after the results are confirmed.

This controversy originated from the on-site actual measurement video released by Dongchedi on October 8. The video shows that three brand new Zunjie V800 vehicles carried out emergency braking tests from 100 km/h to a complete stop on a closed site. After multiple consecutive hard braking operations, the brake pedal brackets of the vehicles suffered fracture problems one after another. The fault occurred during the 2nd to 4th full braking. Once the bracket fractures, the conventional foot brake function of the vehicle will fail directly, and the driver can only rely on shifting to the P gear to achieve emergency deceleration.

On October 8, JAC Motors hit the 10% down limit during intraday trading, closing at 24.72 yuan per share. By the closing bell, its total trading volume reached 3.614 billion yuan, the turnover rate hit 6.35%, and the latest market value stood at 55.723 billion yuan. (Shell Finance, 21 Finance)

Yue Wannianqing: Clarifies that Chairman Ou Xiantao is not involved in the flight conflict rumor and has reported the case to the public security authority

36Kr learned from the announcement of Yue Wannianqing that the company has noticed false remarks on online platforms claiming that the passenger involved in the cabin conflict incident of China Eastern Airlines Flight MU6741 on September 28 is Ou Xiantao, Chairman of the company. After verification, the company makes the following statement on the aforementioned rumors: All relevant content circulating on the Internet involving Ou Xiantao, Chairman and President of the company, is not true. Ou Xiantao has never taken that flight. The aforementioned information is malicious fabrication without any factual basis, which has constituted infringement on the personal reputation of the company's chairman and the commercial reputation of the company. Ou Xiantao has reported the case to the public security organ and the case has been accepted. The company is also carrying out evidence preservation work for the relevant disseminated content. In accordance with relevant laws and regulations, the company will pursue legal responsibilities against entities that fabricate and spread the aforementioned false information, and firmly safeguard the legitimate rights and interests of the company and all investors.

The 2026 Nobel Prize in Literature Announced

At 7 p.m. on October 8, 2026, the winner of the Nobel Prize in Literature was unveiled: the laureate is Canadian poet Anne Carson. The comment from the judging panel reads: "Her boldly innovative works, in a playful and engaging dialogue with classical traditions, have created brand new forms for contemporary literature."

Anne Carson is known as "the most important living poet in English literature", and is highly praised by top critics and writers including Harold Bloom, Sontag, Ondaatje and other leading figures in the literary circle. Bloom called her "one of the living geniuses", who is comparable to Emily Brontë and Emily Dickinson. (Cover News)

The number of initial jobless claims in the United States last week was 197,000, slightly lower than expectations

The number of people filing for initial unemployment benefits in the United States last week was 197,000, with a market forecast of 200,000. (Cailian Press)

Wavelength Opto-Electronic: The company and its chairman have been indicted, involving the crime of smuggling goods prohibited from import and export by the state

36Kr learned from the announcement of Wavelength Opto-Electronic that the company has received the *Indictment* from the Third Branch of Shanghai Municipal People's Procuratorate. The company and four persons including its chairman Huang Shengdi have been indicted on suspicion of committing the crime of smuggling goods prohibited from import and export by the state. The amount involved in the case is 20.1085 million yuan, and the case took place from August 2023 to April 2025. The company stated that the litigation is not expected to have a material impact on its sustainable operation capacity. At present, the production and operation of the company are normal, and the judgment result remains uncertain.

Tencent is reportedly considering issuing up to 5 billion US dollars in offshore bonds

According to people familiar with the matter, Tencent Holdings is considering issuing up to 5 billion US dollars of offshore bonds. These bonds may be denominated in US dollars and offshore renminbi, and could be issued as early as this month. In June, Tencent raised nearly 4.7 billion US dollars by issuing long-term US dollar and renminbi bonds, hitting its largest bond issuance scale since 2020. The raised funds will be mainly used for debt refinancing and general corporate purposes including the development of AI products and services. (Sina Finance)

TSMC's September Sales Increased by 54.6% Year-on-Year

TSMC posted sales of NT$511.86 billion in September, down 0.6% month-on-month and up 54.6% year-on-year. Its total revenue in the first three quarters of 2026 amounted to NT$3.89873 trillion, with a year-on-year growth of 41.1%. (CLS)

Bezos Clarified Blue Origin's Listing Timetable for the First Time: It Has Raised $10 Billion in Financing With a Valuation of Up to $140 Billion

Amazon founder Jeff Bezos stated on October 7 that Blue Origin, the space company under his belt, may conduct an initial public offering (IPO) in the future, but it is still several years away from the official listing. This is one of the most explicit statements Bezos has made to date regarding Blue Origin's potential listing plan. Earlier this year, Blue Origin completed its first large-scale round of external financing since its founding, raising $10 billion and reaching a valuation of approximately $130 billion to $140 billion. As the company secures multi-billion-dollar space project contracts from the U.S. government and accelerates the advancement of its heavy-lift launch vehicle program, Blue Origin is gradually expanding the scale of external financing. (Sina Finance)

Reports Say Samsung Will Cut Smartphone Production by Up to 30% in the Fourth Quarter

According to South Korean media reports, the Mobile eXperience (MX) Division under Samsung Electronics has started to reduce its production volume for the fourth quarter of this year, and the expected production cut can reach as high as 30%. The public believes that this move is caused by the sharp rise in memory chip prices during the holiday season, which puts operating profit margin under pressure. A number of industry insiders revealed on the 7th that the division recently requested its partners to cut product supply by 20% to 30%. Therefore, Samsung Electronics' smartphone production in the fourth quarter is expected to drop by up to 30%. (CLS)

The three major U.S. stock indexes closed mixed, with Intel down more than 5%

36 Kr has learned that as of the close of trading on October 8, the three major U.S. stock indexes posted mixed performances: the Nasdaq fell 1.25%, the S&P 500 dropped 0.47%, and the Dow Jones Industrial Average rose 0.1%. Most large-cap tech stocks trended downward: Intel fell more than 5%, Micron Technology, SK Hynix and SpaceX dropped over 4%, NVIDIA and Amazon declined more than 2%, Microsoft dipped over 1%, Tesla, Google and Meta saw slight losses, while Apple rose more than 1%. Popular Chinese concept stocks generally went down: NIO fell more than 3%, Baidu and Alibaba dropped over 1%, NetEase, Li Auto, Bilibili, JD, XPENG and Pinduoduo posted slight declines.

Apple issues strict mandatory rules for developers: All apps must be adapted to foldable screens in April next year

On October 8, it is learned that Apple recently released new app submission rules for its first foldable iPhone Duo to global application developers, requiring developers to adapt their apps to iPhone Duo. Otherwise, starting from April next year, new applications and app updates will not pass the App Store review. This policy marks that Apple has officially established the access standards for apps to be listed on foldable iPhones. (CLS)

Trump bought up to $25 million worth of Meta shares in August

According to newly disclosed financial documents, U.S. President Donald Trump completed more than 500 securities transactions in August, including up to $25 million in Meta stocks. He also purchased up to $5 million worth of SpaceX bonds, an investment made two days before he signed a wide-ranging memorandum aimed at expanding the U.S. commercial space transportation system. The 18-page document shows that Trump's investment portfolio transactions remain very active, though the pace has slowed compared to June and July, when he disclosed more than 1,000 transactions each month. (Sina Finance)

People's Bank of China: A key structural change in China's trade in recent years is that its sensitivity to exchange rate fluctuations has dropped significantly

36Kr learned that the People's Bank of China has released its policy stance on the RMB exchange rate, pointing out that a key structural change in China's trade in recent years is the notable decline in its sensitivity to exchange rate movements. From the perspective of trade structure, China's export structure has realized transformation and upgrading, shifting from being dominated by low-end labor-intensive products to mid-to-high-end and diversified products. Over the past 5 years, the import and export volume of China's high-tech products has achieved an average annual growth of 7.9%, and the year-on-year growth rate further rose to 11.4% in 2025, with its contribution to the overall foreign trade growth approaching 60%. Chinese exporters are no longer simple price takers, but are embedded in the global supply chain, and can share exchange rate costs with upstream and downstream enterprises. From the perspective of trade-related financial services, foreign trade enterprises are making more use of exchange rate risk aversion tools. About 30% of trade is settled in RMB, and the foreign exchange hedging ratio of enterprises has also reached around 30%, which further reduces the sensitivity of trade to exchange rate fluctuations. These ratios are expected to be further increased in the future.

The Q3 earnings season for US stocks is about to kick off, with Nvidia and Micron playing leading roles

The Q3 earnings season for US stocks will officially kick off next week. According to an analysis by ZeroHedge, Nvidia and Micron are expected to account for more than one-third of the S&P 500 index's Q3 earnings per share growth. The analysis also found that overall, artificial intelligence infrastructure companies are expected to drive more than half of the S&P 500 index's Q3 earnings per share growth. (Financial Associated Press)

15.462 million entries and exits recorded during the National Day holiday, with an average of 2.209 million person-times per day

According to the National Immigration Administration, during this year's National Day holiday, border inspection authorities across the country have guaranteed the entry and exit of 15.462 million Chinese and foreign nationals, with an average of 2.209 million person-times per day, representing a 6.7% increase compared with the same period last year. The single-day peak of entry-exit clearance volume appeared on October 4, reaching 2.397 million person-times. Among the figures, 4.444 million mainland residents made outbound trips, up 9.3% year on year; 682,000 foreign nationals entered the country, and 505,000 of them entered under the visa-free policy, with the respective year-on-year growth rate reaching 5.4% and 9.2%. A total of 732,000 entry-exit transport vehicles (aircraft, ships, trains, road vehicles) were inspected, up 14.7% compared with the same period last year. (CCTV News)

Ministry of Human Resources and Social Security launches public consultation on the *Measures for the Protection of the Rights and Interests of Workers in New Forms of Employment (Draft for Comment)*

36Kr has learned that in order to protect the legitimate rights and interests of workers in new forms of employment, clarify the rights and obligations of platform enterprises, platform labor cooperation enterprises and workers in new forms of employment, and promote the sound development of new forms of employment, the Ministry of Human Resources and Social Security, the Ministry of Transport, the Ministry of Culture and Tourism, the National Health Commission, the State Administration for Market Regulation, the National Healthcare Security Administration and the Cyberspace Administration of China have jointly studied and compiled the *Measures for the Protection of the Rights and Interests of Workers in New Forms of Employment (Draft for Comment)*, and now publicly solicit opinions from all sectors of society.

The State Administration for Market Regulation continues to carry out rectification of false promotion in online food sales, with 14,000 cases filed for investigation

During the National Day holiday, the State Administration for Market Regulation guided market regulation departments across the country to further promote the special rectification campaign targeting false promotion in online food sales. Focusing on key online sales categories including seasonal food, internet-famous food and health food, the authorities adhere to a "zero-tolerance" attitude towards problems such as false promotion and misleading consumption, and severely crack down on illegal and non-compliant acts. Since the beginning of this year, a total of 821,000 food business entities have been inspected nationwide, 72,000 problems have been found, 14,000 cases have been filed for investigation, fines of 61.304 million yuan have been imposed, and 289 cases have been transferred to public security organs. A large number of non-compliant links and false promotion information on online platforms have been cleared, problems such as incomplete public disclosure of qualification information have been effectively rectified, and the overall compliance level of food business has been effectively improved. (CCTV News)

Porsche to cut the number of model derivative variants, with a planned 20% price hike for high-end models

On October 7, sports car manufacturer Porsche disclosed at its Capital Markets Day that it will optimize the number of model derivative variants, to make its product portfolio more focused on attractive high-end market segments. The company plans to reduce the number of model derivative variants by around 20% to lower the complexity of its product portfolio. It is estimated that the average sales volume of each model derivative variant will increase by around 30% in the medium term. According to the disclosure, Porsche plans to raise the average price of its high-end models by 20% and launch a 911 derivative model. By 2030, the average price of Porsche's high-end models is expected to rise from around 270,000 euros this year to over 330,000 euros. Porsche stated that it plans to launch at least one new product that defines the brand image every year by 2030. (Jiemian News)

Amazon Conducts Another Round of Layoffs Across Multiple Teams

According to the latest media reports, Amazon employees said on Tuesday that multiple business divisions of the company have kicked off a new round of layoffs. Information obtained by media shows that a number of employees posted on the internal Slack channel stating that they had received emails notifying them that their positions were eliminated. The channel with nearly 37,000 members was instantly flooded with questions, as employees were concerned about severance packages, access to internal job applications, and whether more layoff notices would be issued. The news shows that this round of layoffs covers multiple business units, including customer service, platform support, and engineering positions of Amazon's retail business, and also affects teams in India and the United Kingdom. (Sina Finance)

Listing in the Pipeline

Shanghai Stock Exchange Terminates the STAR Market Issuance and Listing Review of Cycans

36Kr has learned that according to the official website of the Shanghai Stock Exchange, the STAR Market IPO review status of Cycans Biotechnology Co., Ltd. has been changed to "Terminated".

Transsion Holdings officially launches its IPO on the Main Board of the Hong Kong Stock Exchange

36Kr has learned that Transsion Holdings has recently officially launched its IPO on the Main Board of the Hong Kong Stock Exchange, bringing its A+H dual listing process into a critical stage. In terms of performance, the company posted a revenue of 35.431 billion yuan in the first half of 2026, representing a year-on-year increase of 21.85%; the net profit attributable to shareholders reached 1.773 billion yuan, up 46.22% year on year; the non-recurring items deducted net profit hit 1.480 billion yuan, rising 64.98% year on year. The net proceeds raised from this Hong Kong share offering will be mainly invested in AI and terminal technology R&D, global brand and channel expansion, as well as mobile Internet and IoT ecosystem construction, to facilitate the company's transformation into a technology ecosystem platform positioned as "mobile phone + mobile Internet services + expanded product categories".

Large Company Earnings Reports

LG Energy Solution's consolidated revenue for the third quarter hits 9.64 trillion South Korean won

LG Energy Solution posted a consolidated revenue of 9.64 trillion South Korean won in the third quarter, which is higher than the previous expectation of 8.48 trillion South Korean won. Its operating profit in the third quarter reached 756 billion South Korean won, exceeding the expected 365.48 billion South Korean won. (Sina Finance)

PepsiCo's third-quarter revenue reached 25.274 billion US dollars, a year-on-year increase of 5.6%

PepsiCo released its performance for the third quarter of 2026, with a revenue of 25.274 billion US dollars, up 5.6% year on year. Its organic revenue increased by 3.1%, and core earnings per share stood at 2.34 US dollars, representing a 2% year-on-year growth. The company raised its full-year organic revenue growth forecast to about 3% and expects net revenue to grow by around 6%, but lowered its core earnings per share growth forecast to 2.5% to 3.5%, reflecting cost pressures and profit margin challenges. The company said that its international market has delivered strong performance, and it will continue to support investments through innovation and cost reduction measures. (Jiemian News)

Dongyue Silicon Materials: Its net profit attributable to shareholders for the first three quarters is estimated to be between 547 million yuan and 567 million yuan

36Kr learned from the announcement of Dongyue Silicon Materials that its net profit attributable to shareholders for the first three quarters is expected to range from 547 million yuan to 567 million yuan. In the first three quarters of 2026, affected by the improvement of the market environment and the industry supply-demand pattern, the prices of the company's main products have risen. In terms of raw materials, the purchase price of industrial silicon decreased year-on-year, while the prices of methanol and methyl chloride increased year-on-year. The overall unit production cost decreased to some extent, and the comprehensive gross profit margin increased. Affected by the "7·20" fire accident in the third quarter of 2025, the company recorded a loss of 39.3374 million yuan in the current period, which made the net profit attributable to shareholders for the first three quarters reach only 2.8567 million yuan, so the profit indicators of the current period are not comparable with the same period of last year. During the reporting period, the company estimates that the non-recurring profit and loss will affect the net profit attributable to the shareholders of the listed company by about 42 million yuan, which is mainly caused by items such as the profit and loss from disposal of non-current assets.

Investment and Financing

Manus completes a new round of financing of over 500 million USD

36 Kr has learned that Butterfly Effect, the parent company of Manus, has recently closed a new round of financing of more than 500 million USD. This financing round is led by Boyu Capital and IDG Capital, with continued support from existing shareholders Tencent, HSG and ZhenFund.

"Bit Fantasy" completes angel round financing of several hundred million RMB

36 Kr has learned that Bit Fantasy, the company that owns the smart glasses brand NIMO, recently completed an angel round financing of several hundred million RMB, with its latest valuation reaching 1.5 billion RMB. Investors of this round include relevant investment institutions such as Bohua Capital, Gobi Partners, Yuanhe Puhua and Shangshi Capital. The raised funds will be mainly used for product R&D, channel expansion and overseas market layout.

"White Rhino" Completes $100 Million Series C Financing

36Kr has learned that on October 8, L4 autonomous driving company "White Rhino" officially announced the completion of its Series C2 round of financing, bringing the total financing amount of the Series C round to 100 million US dollars. The Series C2 round was led by Hidden Hill Capital, with follow-on investments from Xiangtan State-owned Assets, Shenzhen High-Tech Investment, Hunan Caixin, South Korea's Woori Financial Group, Bozheng Capital and other institutions. The funds raised in this round will be mainly invested in the iteration of L4 end-to-end technology and physical AI capabilities, the continuous expansion of urban operation networks, while further deepening ecological collaboration with industrial partners to form a full closed loop of technology, products, operations and ecology.

Edited by | HE Yuting