8:00 36Kr Daily Update | ChaBaidao is involved in IPO fraud and its trading has been suspended; Apple released 3 new smart home products overnight, pushing its total market value to a new all-time high; DeepSeek is set to complete 100 billion yuan in financing.
Today's Hotspot Guide
ByteDance Seed has independently set up a large model safety and alignment department
The wildly popular promotion is accused of being paid by franchisees, Bawang Chaji has issued a response
Refusing to sign the AI authorization agreement for *Spider-Man: Noir*, renowned American actor Nicolas Cage confronts Amazon head-on
Liang Wenfeng may make another investment in a robotics company
Wu Liang from Fengxue Weilai responds to relevant allegations of property transfer
Tencent launches the issuance of 5 billion US dollar bonds to raise funds for AI expenditures
TOP3 Major News
Chabaidao involved in IPO fraud, trading of its shares has been suspended
36Kr learned from the announcement of the Securities and Futures Commission of Hong Kong (SFC) that it has taken actions against two groups on suspicion of participating in a fraudulent scheme, which intends to create a false or unreal appearance of the demand for shares in the initial public offering. The SFC has also instructed the Hong Kong Stock Exchange to suspend the trading of Chabaidao's shares starting from 9 a.m. on October 13. The Securities and Futures Commission of Hong Kong pays high attention to the fact that Chabaidao's initial public offering may have been artificially manipulated, aiming to create a false appearance of the demand for Chabaidao's shares. During the ongoing investigation of the SFC, suspending the trading of Chabaidao's shares is necessary or appropriate for maintaining an orderly and fair market for the stock and safeguarding the interests of the investing public.
Apple released three new smart home products overnight, with its total market value hitting a new all-time high
On the evening of October 13, Apple held the "Welcome Home" new product launch event, launching three hardware products at once: its first smart home hub HomeView, the second-generation HomePod mini, and the all-new Apple TV 4K. Equipped with a 7-inch screen and the new version of Siri powered by Apple Intelligence, HomeView supports facial recognition, is priced starting at $299, will be available for sale overseas on November 13, and will not enter the EU market for the time being. The second-generation HomePod mini is equipped with the S10 chip and adds a new light rhythm effect, and its official price in Chinese mainland is adjusted from 999 yuan to 1099 yuan. The new Apple TV 4K will go on sale on November 13. Stimulated by the news of new products, Apple's stock price rose 1.74% in early trading, at $346.892 per share, with a total market value of 5.06 trillion US dollars, hitting a new all-time high, and the subsequent increase narrowed later. (21st Century Business Herald, Jiemian News)
DeepSeek to Complete 100 Billion Yuan in Financing
Multiple people involved in the transaction said that DeepSeek will complete its latest round of financing in the near future, with the financing amount rising from the previously planned 500 billion yuan to about 1 trillion yuan. This is DeepSeek's second round of financing, and the proposed financing amount has doubled in less than half a month. The proposed investment of new and existing shareholders accounts for roughly half of the total respectively. The doubling of the financing scale has not affected the overall valuation, and DeepSeek's pre-money valuation is still around 5 trillion yuan at present. According to transaction insiders from multiple independent sources, the new investors in this round are dominated by industrial investors, including Stony Brook Capital, SMIC Puyuan, CPE Yuanfeng, Legend Capital, Geely and other institutions. In addition, the old shareholders who participated in the first round are also on the list of this round of transactions, including CATL, Tencent, IDG Capital, Lisi Capital and Shixiang Capital. Among them, CATL has increased its investment, planning to make a capital increase of about 100 billion yuan, while its investment amount in the first round was about 50 billion yuan. (Caijing Magazine)
The Cutting Edge of AI
ByteDance Seed Establishes an Independent Large Model Safety and Alignment Department
ByteDance Seed recently issued an internal email, announcing the establishment of the "Seed Model-Alignment&Preparedness" department, which is headed by Yan Lin and reports to Wu Yonghui, the person in charge of Seed. Members of the original Responsible AI team and some members of the Chat team will be transferred to the new department. The establishment of this department aims to strengthen investment in the safety and alignment field. The core of alignment is to ensure that the model's behavior is consistent with human intentions and safety constraints, so as to improve the safety capability of Agent Model, and guard against cutting-edge capability risks such as CBRN (Chemical, Biological, Radiological, Nuclear). (CLS)
Google Starts Rolling Out Gemini 4 Argon to Google AI Subscribers
Google has started rolling out Gemini 4 Argon to Google AI subscription users, with supported platforms including GoogleAntigravity, the Gemini app, and the AI mode in Google Search. Gemini 4 Argon is launched at a preferential price of 2 US dollars per million input tokens and 10 US dollars per million output tokens. (CLS)
OpenAI Plans to Relaunch Sora
According to people familiar with the matter, a stealth startup that develops AI video tools for film industry practitioners is in talks with OpenAI, hoping to access the Sora model, make secondary modifications to it, and sell software and related services based on the modified model. The media first revealed this startup last month. The company was co-founded in recent months by Hollywood tycoon Jeffrey Katzenberg, Bill Peebles, former research head of the Sora project, and Sujay Jaswa, former Chief Financial Officer of Dropbox, and has not yet made its name public. (Sina Finance)
"Qiusuo" 4.0 Launched, China's First Full Artificial Intelligence Industry Chain Evaluation Benchmark Released
China's first evaluation benchmark targeting the full artificial intelligence industry chain covering computing power, model algorithms, intelligent systems and products, industry applications, security governance and other sectors — the "Qiusuo" 4.0 version was officially released on October 13. Up to now, the "Qiusuo" system has carried out multiple rounds of pilot evaluations for the whole industry chain, completed product verification in scenarios including finance, electric power, oil and petrochemical, accumulated a number of industry implementation practice cases, and played a good exemplary role. It is learned that the entire system is divided into four major sections of basic software and hardware, models and intelligent systems, security governance, and industry implementation, with 16 evaluation tools, covering comprehensive evaluation ranging from underlying computing power, software and hardware collaboration, intelligent computing cloud, intelligent software engineering, to large models, agents, embodied intelligence, intelligent terminals, AI security and industry scenarios. (CCTV News)
Doubao Launches Water, Electricity and Gas Bill Payment Services in Gray Scale, Major Tech Giants Compete for the AI Conversational Payment Entry
Recently, the Doubao APP has opened the utility bill payment function in gray scale. Users can complete water, electricity and gas bill payment by typing or giving voice instructions, with payment supported via Douyin Wallet and bank cards. The available payable items vary across different cities. This move is intended to transform the product from a Q&A tool to an intelligent assistant capable of executing tasks. At present, Meituan, Alipay, Tongyi Qianwen and other players are all laying out capabilities including AI conversational payment and local life service ordering. According to industry analysis, conversational payment improves operation convenience, but risk control and user trust still need to be further improved. There is still a long cycle before large-scale popularization, and it will not directly replace existing payment applications. (Jiemian News)
Big Companies / Major Events
Viral Promotional Campaign Accused of Shifting Costs to Franchisees, CHAGEE Responds
On the morning of October 13, the topic "CHAGEE Franchisees Speak Out" topped the trending search list. Online rumors alleged that the brand launched a buy-one-get-one-free campaign to celebrate its spokesperson Zheng Qinwen's championship at the China Open, with all the beverage costs covered by franchisees, and the brand only providing a subsidy of about 3 yuan per cup. In response to Jiemian News, CHAGEE stated that the rumors are not true. After the campaign went live, the brand's mini-program crashed, orders surged sharply, and stores operated far beyond their normal capacity. The brand previously officially announced that it would allocate 13.5 million yuan in special bonuses to reward frontline store employees who participated in the operation support. Although this marketing campaign quickly gained widespread public attention, insufficient pre-preparation in aspects including mini-program stability and store production capacity exposed shortcomings in handling sudden large traffic surges. CHAGEE is a new tea beverage brand listed on the US stock market, with a total of 7639 stores worldwide as of June 2026. (Jiemian News, Red Star News)
Samsung Unveils Next-Generation Storage Technology Strategy to Boost AI Infrastructure Performance
Samsung Electronics announced on Tuesday its next-generation memory and storage technology strategy aimed at improving the performance of artificial intelligence (AI) infrastructure. Samsung outlined three key technological directions designed to enhance AI infrastructure performance: high-performance memory, Compute Express Link (CXL)-based storage expansion technology, and data storage and management solutions leveraging new-generation solid-state drives (SSDs). (Sina Finance)
Global smartphone shipments hit the lowest level in 14 years
According to data from Counterpoint Research, global smartphone shipments in the third quarter of 2026 fell 20% year-on-year, hitting the lowest level for the same period since 2012. AI infrastructure has seized the production capacity of memory chips, and rising chip prices have pushed up the production cost of mobile phones. The global retail price of mobile phones has risen by about 20% cumulatively this year, consumers' phone replacement cycle has been extended, and public attention to refurbished phones has increased. The market shows a differentiated trend: high-end demand maintains strong resilience, while the pressure in the mass market is prominent. Samsung's market share rose to 23% and ranked first, with Apple's share reaching 22%; Xiaomi's shipments fell by more than 30% year-on-year, and both OPPO and vivo recorded a decline of over 20%. Institutions predict that before the memory supply problem is improved, the mobile phone industry will hardly see a significant recovery, and manufacturers will continue to tilt resources to high-end models. (CLS)
Liang Wenfeng May Invest in Another Robotics Company
After investing 141 million yuan to take a stake in Unitree Technology two months ago, DeepSeek may make another move in the robotics track. Sources said that DeepSeek has agreed to lead the seed round financing of Winverse AI with an amount of tens of millions of US dollars, bringing the post-money valuation to about 400 million US dollars. In addition, institutions including Long-Z Investments under Meituan have also made investment commitments. As of the press time of the reporter from *Science and Technology Innovation Board Daily*, no response has been obtained regarding the above news. If the transaction is successfully completed, it will become another key strategic layout of Liang Wenfeng in the field of embodied intelligence. (CLS)
Zunjie V800 Releases Third-Party Test Results of Brake Pedal
In response to the brake pedal controversy, a reporter from China Business News learned from Zunjie Auto on October 13 the "Explanation on the Brake Pedal Test of Zunjie V800". The explanation shows that on October 11, 2026, a nationally accredited third-party testing agency inspected the brake pedal of Zunjie V800. The Zunjie V800 meets the requirements of the industry standard QC/T 788-2018 (longitudinal force 1500N, displacement < 5mm). After a stricter test with the longitudinal force increased to 3000N, no cracks or damage were found. (China Business News)
LVMH Acknowledges the Negative Impact Brought by the Molly Tea Lawsuit and Will Not Abandon the Chinese Market
On the evening of October 12, LVMH held its third-quarter earnings conference call. The group's CFO openly admitted that the Molly Tea trademark litigation incident has caused negative impacts, but the group will not cease its investment in the Chinese market. In the first-instance ruling of this trademark infringement case, Molly Tea was ordered to pay a total of 10.3 million RMB as compensation, and the Molly Tea side has filed an appeal. According to the financial report, LVMH posted a revenue of 18.504 billion euros in the third quarter, with an organic growth of 1% and a slowing growth rate; revenue in the Asia region excluding Japan dropped by 5% year on year, the revenue of the fashion and leather goods segment declined, and LV is under prominent pressure. The overall demand from Chinese customer groups dropped by 15% in the third quarter. Meanwhile, L'Oréal's market value has surpassed that of LVMH, marking the first time this has happened since 2017. The group stated that it will not launch large-scale price reduction promotions, and will wait for the market to pick up by relying on new products and in-store experience. (Jiemian News)
79-year-old Tao Huabi, founder of Laoganma, generated 5.4 billion yuan in annual profit with the help of AI, hitting a new revenue record
On October 13, the topic "79-year-old Tao Huabi of Laoganma earns 5.4 billion yuan a year with AI" topped the trending search list. Senior executives of Laoganma disclosed that the brand's revenue reached 5.4 billion yuan in 2025, hitting an all-time high. The brand barely conducts online marketing, has abandoned livestreaming sales, with e-commerce channels accounting for less than 5% of total sales, and its core focus remains on offline distribution. An AI visual quality inspection system has been deployed inside the factory, which automatically removes moldy chili peppers, reduces the product defect rate to 0.02%, and realizes full-chain traceability of raw materials. Laoganma adheres to the principle of no listing and no financing, and many of its core chili sauce products have long occupied the top ranks in China's condiment sauce market. (Jiemian News)
992.5 Billion Yuan of Capital Has Exited the South Korean Stock Market Within This Year, Witnessing a Mass Retreat of Foreign Investors from the South Korean Stock Market Where Samsung and SK Hynix Are Facing Sustained Sell-offs
According to reports from South Korean media, the South Korean stock market plunged on the morning of October 13, and foreign investors kept selling off the stocks of Samsung Electronics and SK Hynix. According to the data released by the Korea Exchange on October 13, from the first trading day at the start of this year (January 2) to October 12, foreign investors made a cumulative net sell-off of 199.10 trillion won (equivalent to about 992.5 billion yuan) in the KOSPI market. Among the figures, the net sell-off of Samsung Electronics hit 86.06 trillion won (about 429 billion yuan), and that of SK Hynix hit 87.14 trillion won (about 434.4 billion yuan), totaling 173.20 trillion won (about 863.4 billion yuan). The total net sell-off amount of these two stocks accounts for 87% of the total net sell-off amount of the KOSPI market. (China New Finance and Economics)
IELTS Organizers Apologize: Full Resumption of All Tests Starting October 14, Two Additional Free Special Exam Sessions Added, Cross-city Test Takers Can Apply for Reimbursement of Relevant Expenses
According to The Paper, the IELTS test suspension incident continues to escalate. Following the three consecutive days of IELTS computer-delivered test cancellations in Chinese mainland from October 10 to 12 due to technical reasons, the tests scheduled for October 13 were canceled again. The British Council confirmed today that it has fully refunded the test registration fees to all affected test takers, and will fully resume all tests starting from October 14, while arranging two extra free exclusive test sessions for affected test takers on October 19 and 20. For test takers who traveled from other cities, the organizer has also launched a reimbursement scheme covering transportation and accommodation expenses. (The Paper)
Wu Liang from Fengxue Weilai Responds to the Doubts Related to Asset Transfer
After the passing of Zhang Xuefeng, Wu Liang who took over Fengxue Weilai has been plagued by rumors of transferring corporate assets and seizing equity. He made his first public response in the program trailer, stating that the top priority at present is to keep Fengxue Weilai operating. If any problem occurs in the college application volunteering filling service, it will deal a devastating blow to the company. Wu Liang noted that the successor candidate was jointly confirmed by Zhang Xuefeng's family and the board of directors, and he can make any arrangement when Zhang Xuefeng's daughter grows up. Industrial and commercial registration information shows that Wu Liang is associated with a number of enterprises under his name, and Zhang Xuefeng's daughter holds 37.5% of the shares of Fengxue Weilai. (Qingdao News Network)
Dettol's Advertisement Fined Over 1 Million Yuan for Objectifying Women
On October 13, the State Administration for Market Regulation released 7 typical cases of advertisements violating public orientation regulations. Among them, the advertisement for Dettol laundry disinfectant contained copy that objectified women, leading to an 800,000-yuan fine on Shanghai Manlun Trading Co., Ltd., and a total of 265,000 yuan in fines and confiscations on its advertising partner Guangxi Shunshi Information Technology. The total penalty for the two parties exceeds 1 million yuan. The cases exposed this time also involve vulgar promotion of Saky teeth whitening strips, bar AI advertisements that misuse the image of nurses, illegal marketing of gas stations on Army Day, and feng shui superstition promotion by cemeteries, and all involved enterprises have been imposed corresponding fines. In the first three quarters of this year, market regulatory departments across the country have investigated 33,754 illegal advertisement cases, with the total amount of fines and confiscations reaching 165 million yuan, and online platforms have blocked and removed a total of 175,000 pieces of non-compliant promotional materials. (CCTV News)
Lee Jae-yong, Chairman of Samsung Electronics, will receive 11.158 million gifted shares from his mother, with an estimated market value of approximately 2.6 trillion won
According to the report from CLS on October 13, the securities trading plan submitted by Lee Jae-yong, Chairman of Samsung Electronics, shows that he plans to accept 11.158 million ordinary shares of Samsung Electronics donated by his mother Hong Ra-hee. Calculated based on the closing price of Samsung Electronics on that day, the value of the gift is about 2.6 trillion won. After the transaction is completed, Lee Jae-yong's shareholding will increase from about 105.2 million shares to around 116.4 million shares, with the shareholding ratio rising from 1.58% to 1.75%. The report indicates that this transaction is for the purpose of share gift acceptance, and the relevant agreement was signed on October 12. (CLS)
Haidilao: Provides a loan facility with a principal cap of RMB 100 million to CEO Zhang Yong, with a term of 30 days
36Kr learned from the announcement Haidilao filed to the Hong Kong Stock Exchange that on October 12, Zhang Yong, the company's controlling shareholder, executive director, board chairman and chief executive officer, entered into a loan agreement with the company. According to the agreement, the company agreed to grant Zhang Yong a Hong Kong dollar denominated loan facility with a maximum principal equivalent to RMB 100 million, with a term of one month (i.e. 30 days), and the interest rate is the one-month Hong Kong Dollar Interbank Offered Rate plus 60 basis points.
Sulfur prices have surged nearly 10 times
Affected by the shipping disruptions in the Strait of Hormuz, the global sulfur supply has tightened sharply, with prices skyrocketing to nearly 10 times the level before the conflict, approaching 1,000 US dollars per ton, while the normal price of this product is only 100-200 US dollars per ton. Sulfur can be used to produce sulfuric acid, which is widely applied in phosphate fertilizer production and copper smelting. Well-funded mining enterprises are snapping up supplies at high prices, squeezing fertilizer manufacturers who are forced to cut production. Institutions warn that the cost pressure may be transmitted upward, pushing up global food prices. Some fertilizer enterprises are adjusting their product lines and looking for alternative raw materials to cope with the crisis, while copper enterprises, benefiting from the strong boom in the metal sector, can afford the rising sulfuric acid prices. Market data shows that the sulfur trade crisis is still worsening. (Cailian Press)
Microsoft announces its largest-ever bet on self-developed chips, market cap returns to $4 trillion
"Today we are announcing our biggest bet on self-developed chips to date." On October 12 local time, Satya Nadella, Chairman and CEO of Microsoft, unveiled Microsoft's latest self-developed chip plan on social media. Microsoft stated that Azure Maia 200 is now in production, and the latest chip Azure Maia 300 has been released. Meanwhile, Microsoft announced a new deployment plan: starting from 2027, it will expand the Azure Maia series to multi-gigawatt scale deployment, making Maia the primary inference system for Microsoft's products and services. Driven by this news, Microsoft's share price rose 1.14% to $541.15 on the same day, with its market capitalization returning to $4 trillion. (Yicai)
Nexchip Semiconductor surged 274.69% on its debut trading day after listing, and investors can earn 16,500 yuan from one winning allotment
Nexchip Semiconductor opened 274.69% higher on its first trading day, and is currently quoted at 45 yuan, with the issue price of the stock being 12.01 yuan. Calculated based on the opening price, investors who win one allotment (500 shares) have a floating profit of about 16,500 yuan. The closing price on October 13 was 38.80 yuan, with an increase of 223.06% on that day. Public information shows that the company's main business is to provide 12-inch wafer foundry services and specialty process solutions. (Jiemian News)
Refusing to sign the AI licensing agreement for *Spider-Man Noir*, renowned US actor Nicolas Cage confronts Amazon head-on
According to reports, renowned American actor Nicolas Cage publicly expressed his stance against the use of AI technology in film and television works at New York Comic Con. He revealed that during the filming of *Spider-Man Noir*, the Amazon side once asked him to sign an authorization document that permitted the use of AI technology, but he turned it down. "I am not an AI-friendly actor," Cage said bluntly, "so you should know what I mean. I am not in that circle." (Global Network)
Tencent Launches $5 Billion Bond Issuance to Raise Funds for AI Spending
Tencent Holdings has kicked off the roadshow for dollar and offshore renminbi bonds. This offering is expected to raise approximately 5 billion US dollars to support its growing investments in the artificial intelligence sector. According to media reports citing a person familiar with the matter, this Chinese technology and gaming giant has set the initial price guidance range for its proposed 10-year and 20-year dollar bonds at about 115 basis points and 140 basis points higher than comparable US Treasuries respectively. The person said the company is also promoting 10-year and 30-year offshore renminbi bonds, with the price guidance range at around 2.9% and 3.5% respectively. The person said these bonds may be priced as early as Tuesday. (Sina Finance)
The three major U.S. stock indexes closed lower across the board, with large-cap technology stocks posting mixed gains and losses
36Kr learned that at the close of trading on October 13, the three major U.S. stock indexes fell collectively: the Nasdaq fell 0.15%, the S&P 500 fell 0.02%, and the Dow Jones Industrial Average fell 0.35%. Large-cap tech stocks saw mixed performance: SpaceX fell by more than 4%, Micron Technology and SK Hynix fell by more than 3%, Tesla and Amazon posted slight declines, Meta rose by more than 2%, NVIDIA rose by nearly 1%, while Google and Apple saw a modest increase. Most popular Chinese concept stocks went up: Li Auto rose by more than 3%, NIO rose by more than 2%, Pinduoduo rose by more than 1%, XPeng Group, JD.com and Alibaba posted slight gains. iQiyi fell by more than 2%, Bilibili fell by more than 1%, while Baidu and NetEase saw a slight drop.
Is there a rumored NVIDIA order cut? Kinwong Electronic responds
36Kr learned that an investor raised a question to Kinwong Electronic: the company's stock price plunged sharply today, and there are online rumors that NVIDIA has cut its orders, is that true? On October 13, the company responded on the interactive platform that the stock price fluctuation of listed companies is affected by many factors, which is closely related to the macro environment, policy factors, industry operating conditions and capital market style and other comprehensive situations. Due to commercial confidentiality clauses, the company is not in a position to disclose cooperation information of specific customers. To ensure that all investors obtain the company's information on an equal basis, specific customer information shall be subject to the company's official announcements. As of the end of the third quarter of 2026, the company has a full backlog of orders in the fields of AI servers and data centers, and high-speed optical modules, with high capacity utilization rate and yield rate, and the company is making every effort to ensure the delivery target is achieved.
Ongoing Listing Process
Transsion Holdings: H Share Offering Price Fixed at HK$35.30 per Share
36Kr learned from the announcement released by Transsion Holdings on the Hong Kong Stock Exchange that on October 13, 2026, the offering price has been fixed at HK$35.30 per H Share (excluding 1.0% brokerage commission, 0.0027% SFC transaction levy, 0.00565% SEHK trading fee and 0.00015% FRC transaction levy). Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. (Hong Kong Time) on Thursday, October 15, 2026, the H Shares are expected to commence trading on the Main Board of the Stock Exchange of Hong Kong at 9:00 a.m. (Hong Kong Time) on Thursday, October 15, 2026. H Shares will be traded in board lots of 100 H Shares.
Investment and Financing
"Yisheng New Materials" completes nearly RMB 100 million Series A3 financing
36Kr has learned that Yisheng New Materials announced the completion of its Series A3 financing of nearly RMB 100 million. This round is jointly led by Yuanhe Puhua and Changjiang Innovation, with follow-on investments from CSC Financial, Bangsheng under Jiangsu High-tech Investment, Fengyuan Capital and Yinbai Investment, and the Xinchuang Fund under Zhongguancun Qihang, an existing shareholder, also made additional follow-up investment. The funds raised in this round will be mainly used for hardware equipment input and high-end talent introduction.
"Zhongna Energy" completes a new round of financing of hundreds of millions of yuan
36Kr has learned that recently, "Zhongna Energy" announced that it has officially completed a new round of financing of several hundred million yuan. The funds raised in this round will be mainly focused on the expansion of the new-generation sodium-ion battery cell production line, R&D of next-generation product technologies, market channel expansion, and the construction of supply chain and delivery systems.
"Sankai Mechatronics Completes Hundreds of Millions Yuan Series B Equity Financing"
36Kr learned that recently, "Sankai Mechatronics" announced the completion of hundreds of millions of yuan in Series B equity financing. This round of financing is jointly led by the Industrial Mother Machine Industry Investment Fund and Wuchan Zhongda Investment, with Caitong Capital and Wenling Haihe Rongzhi participating as follow-on investors. The raised funds will be mainly used to deepen the R&D and iteration of the integrated technology of joint reducer and drive for humanoid robots, expand the production capacity construction of precision reducers, and accelerate the domestic substitution process of high-end transmission components. At the end of last year, Sankai Mechatronics obtained over 100 million yuan in Series A financing led by Dachen Caizhi.
Large Corporations' Financial Reports
LVMH Group Achieves 1% Organic Revenue Growth in the Third Quarter
Luxury conglomerate LVMH generated a total revenue of 57.148 billion euros in the first three quarters of 2026, down 2% year-on-year, with an organic growth of 2%. Specifically, its third-quarter revenue reached 18.504 billion euros, representing a 1% organic growth with a slower sequential growth rate. The fashion and leather goods division, which takes up the largest proportion of the group's total revenue, registered a 5% decline in organic revenue, while all the other divisions posted single-digit organic revenue growth. In the Asian market excluding Japan, its organic revenue in the third quarter dropped by 5%, compared with the 7% and 4% growth recorded in the first and second quarters respectively. (Jiemian News)
Goldman Sachs' net revenue in the third quarter hit 18.679 billion U.S. dollars, rising 23% year on year
Goldman Sachs announced its financial results for the third quarter of 2026, recording a net revenue of 18.679 billion U.S. dollars, up 23% year on year; a net profit of 5.294 billion U.S. dollars, up 29% year on year; and a diluted earnings per share of 17.01 U.S. dollars, up 39% year on year. By business segment, the Global Banking & Markets business posted a net revenue of 13.458 billion U.S. dollars, up 32% year on year, among which the equities business saw a net revenue of 6.441 billion U.S. dollars, up 72% year on year; the Asset & Wealth Management business generated a net revenue of 5.051 billion U.S. dollars, up 14% year on year; the Platform Solutions business reported a net revenue of 170 million U.S. dollars, down 72% year on year. Operating expenses in the third quarter stood at 11.308 billion U.S. dollars, up 20% year on year. (CLS)
Cool Products
Qianwen Unveils Three New Personal Agent Hardware Products, Including AI Glasses and AI Earphones
36Kr learned that on October 13, Qianwen launched three new products: AI Glasses N1, N1 Pro, and AI Clip-on Earphones. According to available information, the N1 series is equipped with a 50-megapixel imaging system, supporting all-weather environment perception, translation, meeting minutes recording and voice-driven task handling. The N1 Pro adds new features including real-time vital sign monitoring, eye-tracking interaction and iris identity verification. The AI clip-on earphones are jointly launched by Qianwen and Bose, supporting multilingual translation, real-time AI audio transcription and task delegation. The new products went on sale the same day. After applying national subsidies and limited-time offers, the starting price of the glasses is 2218 yuan, and the starting price of the earphones is 1099 yuan.
"Mechanically Intelligent" Soft Robot Unveiled: Capable of Switching Between Different Swimming Postures
A "mechanically intelligent" soft robot developed by the team from North Carolina State University, USA has been launched. This robot is not equipped with a microcomputer and does not rely on real-time algorithms. It only uses two air tubes to control inflation and deflation, so as to switch between three swimming modes of jellyfish, fish and rotor, and complete movements including lifting and lowering, hovering and steering. Its control logic is entirely undertaken by the materials and the structure itself, which means the "brain" is integrated directly into the structure. Relevant research results were published in the latest issue of Science Advances. (Science and Technology Daily)
Compiled by | Li Qi