8:00 36Kr | Three departments launch a joint investigation into "the brake pedal bracket fracture issue of the Zunjie V800 vehicle"; It is alleged that half of China's domestic AI computing power is being used to produce formulaic binge-worthy web dramas; TSMC's net profit in the third quarter reached NT$763.1 billion.
Today's Hotspot Guide
Cook: Apple Intelligence has been approved in China, the beta version will be launched at the end of October, and the company will adopt Alibaba and Baidu as dual partners in the domestic market
Is Pan Shuimiao, President of YTO Express, appointed as the Chairman of MediaStorm? Tim responded
NASA is suspected to have found evidence of life on Mars but canceled the recovery due to excessively high cost
Zeng Yuqun, Chairman of CATL, donated 400 million yuan worth of stocks on site
Less than one month after going on sale, some users reported that the iPhone 18 Pro has "color fading" issues
TOP3 Major News
Three departments including the Ministry of Industry and Information Technology launch a joint investigation into the fracture issue of vehicle brake pedal brackets, Zunjie responds late at night
In response to the online-reported fracture issue of the brake pedal bracket of Zunjie V800 vehicle, the Ministry of Industry and Information Technology, the Cyberspace Administration of China, and the State Administration for Market Regulation attach great importance to the matter, and have established a joint investigation team to carry out verification on the basis of previous investigations. They will handle the issue in accordance with laws and regulations, and release relevant updates in a timely manner afterwards. Late at night on October 15, Zunjie Automobile issued a statement, stating that it will actively respond, fully comply, and make every effort to cooperate with the work of the joint investigation team, to safeguard the legitimate rights and interests of consumers and the overall development of the new energy vehicle industry. (CLS, 21st Century Business Herald)
Half of China's domestic AI computing power is reported to be used for producing binge-worthy short dramas, with only 15% allocated to R&D
Recently, the topic that "more than half of China's domestic computing power is used to produce binge-worthy short dramas" has sparked heated public discussions. COL Digital Publishing Group Co., Ltd. (300364.SZ) disclosed in its investor activity records that 55% of domestic AI Token consumption is used for short drama and video generation, 24% for e-commerce advertising, and only 15% is invested in R&D, and the Token consumption related to short dramas is more than twice that of software development.
According to industry reports, the scale of China's domestic micro-short drama market exceeded 14 billion US dollars in 2025. AI has covered the entire industrial chain of short dramas, and the computing power cost of a single 12-episode short drama is nearly 200,000 yuan. Data from OpenRouter shows that from October 5 to 11, the weekly invocation volume of domestic large models in China reached 86.74 trillion Tokens, exceeding that of the United States for 24 consecutive weeks, and all the top 5 large models in the world by invocation volume are Chinese large models. (CLS)
TSMC's net profit in the third quarter hit NT$763.1 billion, with advanced processes accounting for 79% of total wafer revenue
36Kr learned that TSMC disclosed its financial results for the third quarter of 2026 on October 15, recording a net profit of NT$763.1 billion, which is higher than the market estimate of NT$739.49 billion. In terms of process revenue structure, 2nm shipments account for 8% of total wafer revenue, 3nm for 33%, 5nm for 28%, and 7nm for 10%. 7nm and more advanced technologies together account for 79% of total wafer revenue, and the demand for advanced processes remains strong. (Reported by The Associated Press of Financial News, Jiemian News)
AI Cutting-edge
WeChat Work integrates with WorkBuddy, enabling users to directly access internal corporate resources to handle work tasks
On October 14, WeChat Pi released an announcement of a major update that WorkBuddy is now available on the sidebar of WeChat Work. After users upgrade WeChat Work to the latest version 5.0.12, they can directly communicate with WorkBuddy within WeChat Work without switching between multiple applications. WorkBuddy can understand tasks by combining messages, documents and meeting information within the scope of user permissions, call the workbench to execute tasks, and return the results to WeChat Work. All work materials, project experience and customer information accumulated in WeChat Work can be used as callable production materials. (CLS)
Meta Releases the Most Powerful Open-Source Large Model in the United States
On local Thursday, Meta launched the open-weight model Muse Spark Open, and reached a cooperation with Apple to support the local operation of this model on Mac. Adopting a Mixture-of-Experts architecture, the model has a total of 816 billion parameters with 42 billion active parameters, and its context window can reach up to 1 million tokens. Focusing on coding and intelligent agent tasks, Meta describes it as the most capable open-weight model in the United States to date. Test results show that it ranks first across six evaluation benchmarks, while domestic models including Kimi, Qwen, and Zhipu AI deliver better performance on some tasks. The two parties optimized the model for M5 Ultra Mac Studio with the MLX framework, so that the model can run completely on two such devices. The 512GB version of this Apple product will go on sale at the end of October. This model is also compatible with chips from NVIDIA, AMD and Intel, supporting developers to download the weights for local deployment. (Cailian Press)
UK Financial Conduct Authority Plans to Introduce AI to Automate Financial Regulation
The UK financial regulator is planning to leverage artificial intelligence (AI) to automate most of its regulatory and law enforcement activities, transforming itself into an "agentic regulator", and does not intend to implement new regulatory rules for the financial industry at present. The Financial Conduct Authority (FCA) of the UK will announce its response measures targeting the latest cutting-edge artificial intelligence models next week, when Jessica Rusu, the agency's Chief Data, Information and Intelligence Officer, will deliver a speech to introduce the relevant plans. (Sina Finance)
NVIDIA CEO Jensen Huang Says It Will Cut Off Chip Supplies to Customers Developing Unsafe AI Software
On local time October 14, Jensen Huang, Chief Executive Officer of NVIDIA, stated that if customers are developing unsafe artificial intelligence software, he will stop supplying chips to them, though he believes there is no need to be so concerned about this technology at present. During an interview, when asked whether he would stop supplying products to irresponsible developers, Huang said, "This is a hypothetical question, but the answer is yes. However, you will communicate first before taking such action. We do not operate other people's companies, and the judgment we can make on how other companies use our technology is limited. Our technology is general-purpose." (Jiemian News)
xAI Unveils Grok Voice 3.0 Speech Model
On October 14 local time, xAI, the artificial intelligence company under Elon Musk, announced the launch of the Grok Voice 3.0 speech model, which is now available via the voice agent API at a price of $0.08 per minute, the same as the previous generation product. xAI stated that Grok Voice has been deployed for voice interaction in Tesla vehicles and the Starlink customer service center under SpaceX, the latter of which handles about 20,000 multilingual customer calls per day, and around 70% of the calls can be resolved without human intervention. (Jiemian News)
Big Companies / Major Events
DeepSeek Apologizes for Nearly 5-Hour Service Outage and Unveils Compensation Scheme
Around 8 a.m. on October 15, a number of netizens reported on social media that they received prompts of "Server temporarily unavailable" or "Server busy, please try again later" when using DeepSeek. As of 13:00 on October 15, Sino-Singapore Jingwei checked the DeepSeek client and found that its service had returned to normal. In response, DeepSeek Official Open Platform released a notice on service recovery and compensation, stating that it will compensate all API users for the consumption amount within 7 days (Oct. 8 to Oct. 14), fully refund the full amount in the form of bonus credits that will be automatically credited to user accounts. Subsequent API billing deductions will be made from the bonus credit account first. (Jingchu Website)
Tim Cook: Apple Intelligence has been approved in China, with a beta version to be launched at the end of October, adopting Alibaba and Baidu as dual domestic partners
36Kr has learned that Tim Cook, Executive Chairman of Apple's Board of Directors, visited Shanghai and accepted media interviews on October 15, confirming that Apple Intelligence paired with Alibaba's Qwen large model has obtained regulatory approval, and the domestic test version will be launched later in October. The first batch of open functions includes real-time translation, writing tools and photo erasure tools, and Siri AI is not included in this beta version for the time being. Cook said he is very glad that the first batch of core Apple Intelligence functions can be rolled out step by step. According to the plan, Apple will push the official version of Apple Intelligence through the iOS 27.3 system update in December, covering iPhone, iPad and Mac devices, and the debut functions are the AI capabilities that have been implemented in the United States two years ago. A unique dual-supplier model is adopted for domestic implementation: Alibaba's Qwen and Tongyi Wanxiang provide Apple Intelligence with multimodal capabilities such as text and image understanding and content generation; Baidu is responsible for undertaking services related to the Siri voice assistant and Visual Intelligence. (JIEMIAN News, 36Kr)
Is Pan Shuimiao, President of YTO Express, Appointed Chairman of MediaStorm? Tim Responds
On October 15, information from the National Enterprise Credit Information Publicity System shows that Hangzhou Xingao Media Co., Ltd., the operating entity of MediaStorm, has completed a number of industrial and commercial changes. Pan Shuimiao, Director and President of YTO Express, has been appointed as the chairman of the company. The company's business scope has simultaneously added new items including pre-packaged food sales, film production, and multi-channel distribution services for internet information content. According to public records, Pan Shuimiao has served as the executive director of the company as early as August 2016. Pan Tianhong (Tim), founder of MediaStorm, released a statement in response that Pan Shuimiao has held the post of executive director since the company's founding and does not participate in daily operations, and this change is only to set up a board of directors to meet the development needs of the company. (JIEMIAN NEWS)
Elon Musk Revealed That He Has Experienced Cyberpsychosis 6 Times
Elon Musk, CEO of Tesla and SpaceX, disclosed in the interview at the "X Takeover" event that he has undergone roughly six episodes of "Artificial Intelligence (AI) psychosis", also referred to as "cyber delirium", in the past year. This term is not a clinical medical terminology, which is mostly used to describe the cognitive impact brought by in-depth exposure to AI, and is also adopted in the tech circle to tease practitioners' excessive obsession with AI. Musk stated that the feeling came from the shock brought by witnessing AI's capability of aesthetic understanding. Nowadays, related concepts such as "AIPAAS (AI Psychosis as a Service)" have been derived within the Silicon Valley circle, and a number of technology executives use it to make self-deprecating jokes. (CLS)
CK Hutchison Holdings refutes the rumor of Li Ka-shing's death: the related claim is untrue, and there is no plan for a public appearance to respond for the time being
On October 15, in response to the online spread of the message that "Li Ka-shing has passed away", CK Hutchison Holdings issued a solemn statement, stating that the relevant rumor is completely groundless. The group's public relations staff said that Li Ka-shing has no plan to make a public appearance to respond for the moment. CK Hutchison condemned self-media outlets for fabricating false news, and called on all parties to verify the authenticity of information before reposting. On the same day, Ta Kung Pao issued a clarification statement, noting that some accounts forged the newspaper's reports to spread the relevant rumors. The newspaper has collected evidence and issued a lawyer's letter, reserving the right to pursue legal responsibilities, and meanwhile required the platforms to dispose of the rumors and ban the rumor-mongering accounts. (CLS)
Changxin Technology's market value has tumbled by 1 trillion yuan within two months
At the close of trading on October 15, Changxin Technology (688825.SH) was priced at 43.59 yuan per share, with its total market value falling below 3 trillion yuan, and Industrial and Commercial Bank of China reclaimed the top spot of total market value in the A-share market. On its first listing day on July 27, Changxin Technology once surpassed ICBC to top the A-share market value ranking, and its market value reached the peak of 4.2 trillion yuan on August 17. From August 17 to October 14, the company's share price dropped by 25.57%, with its market value shrinking by 1.07 trillion yuan. During this period, Changxin kept making technological breakthroughs, and realized mass production of LPDDR6 and the 5th-generation DRAM platform. Influenced by factors such as Changxin's technological progress, the share prices of overseas storage giants including Samsung Electronics, SK Hynix and Micron Technology also declined synchronously. At present, Changxin Technology takes up 7% of the global DRAM market share, ranking the fourth across the world. The market is concerned that the expansion of AI infrastructure will fall short of expectations, and U.S. inflation data has pushed up financing costs, putting pressure on the storage sector. (Yicai)
Joint Investigation Team of Four Authorities Releases Notification on Verification of Formamide Issues in Infant Diapers
On October 15, the joint investigation team formed by the State Administration for Market Regulation, the Ministry of Industry and Information Technology, the National Health Commission of the People's Republic of China, and the National Administration of Disease Control and Prevention released the verification notification. The investigation covered 168 domestic infant diaper manufacturers and OEM enterprises, and sampled 368 batches of finished products from 180 brands in total. No formamide was detected in all tests conducted by authoritative institutions, and no formamide was added in the production raw materials and processes of relevant enterprises. The notification pointed out that multiple testing entities that previously claimed to have detected formamide in online rumors had non-rigorous testing procedures and data defects, and their relevant conclusions were invalid. The expert group also established a dedicated testing method to recheck the blood samples involved in public opinions, and no formamide was detected in the re-inspection either. No formamide-related health hazards caused by diapers have been found so far. Relevant departments stated that they will continue to strengthen the supervision of infant products. (21st Century Business Herald)
NASA Suspected to Have Found Evidence of Life on Mars But Canceled Retrieval Due to Exorbitant Costs
According to reports, the National Aeronautics and Space Administration (NASA) has discovered a rock on Mars that may contain clues about whether life once existed on Mars. However, due to high costs and complex retrieval equipment, the plan to bring it back to Earth has been temporarily canceled. NASA stated in a statement that the samples collected by the Mars rover are still safely stored on Mars, and the agency is exploring a series of potential return solutions that may be simpler and more economical than the original Mars sample return program, including possible commercial or international contributions. (China New Finance and Economics)
OpenAI London paid out more than £2.3 million in per capita compensation last year
36Kr has learned from media reports that the per capita compensation for employees at OpenAI's London branch reached 2.318181 million pounds (approximately 20.55 million RMB) last year, indicating that this star artificial intelligence company is offering salaries comparable to those of Premier League players to fully compete in the global AI race. Data from the UK Office for National Statistics shows that this compensation level is 58 times the median income of full-time employees in the UK. Converted before tax, the average compensation package (salary + equity) of OpenAI employees has an hourly rate of about 1,000 pounds. (CLS)
Less than a month after its official sale, some users reported that the iPhone 18 Pro has suffered from "color fading" issues
Less than a month after the domestic launch of the iPhone 18 Pro, a number of users reported on social platforms that the new device has color fading on its body, with the signature burgundy red model showing the most obvious color difference, and light pink traces appearing around the camera lens. On October 15, Jiemian News consulted Apple's customer service, who stated that there are not many feedbacks about color fading at present, and users who encounter problems can apply for after-sales service at offline stores. Industry analysis shows that this model adopts the anodizing coloring process. If the pore-sealing process is not in place, sweat and moisture will seep into the oxide film and damage the dye, resulting in color fading. In addition to color fading, two other major faults have been exposed for the iPhone 18 Pro series: the device will automatically restart after Face ID freezes, Apple's engineering department is investigating the problem and will push a system update to fix it later; green artifacts will appear when taking high-magnification photos in low-light environments, which is highly related to the large aperture mode of the variable aperture. This model was officially released on September 10, equipped with the A20 Pro chip, available in four color options, with a starting storage of 256GB. (Jiemian News)
South Korea holds an emergency meeting after the stock market slump
South Korea's financial regulatory authority held an emergency meeting targeting stock market movements and issued an official statement, requiring proactive response measures to ensure market stability and protect investors; urging financial institutions to avoid excessive credit extension, properly carry out investor protection and risk management work; it will severely punish acts that disrupt the market and prepare to launch the emergency response plan when necessary. Earlier, the decline of South Korea's KOSPI index once widened to 9%, with Samsung Electronics and SK Hynix both falling by more than 11%. (CLS)
Midea Joins NVIDIA MGX Ecosystem
At the 2026 OCP Global Summit held in San Jose, the United States from October 12 to 15, NVIDIA announced the NVIDIA MGX AI Factory ecosystem and partner list for the next-generation Vera Rubin platform, and Midea was included in the list of thermal management partners. MGX is an open hardware base built by NVIDIA around Blackwell, Vera Rubin and subsequent AI computing platforms, covering server OEM/ODM, liquid cooling, power supply, power distribution and data center infrastructure. It is understood that with the continuous rise of rack power density of the Vera Rubin platform and 45°C high-temperature liquid cooling becoming the new industry standard, MGX ecosystem partners have the opportunity to participate in thermal management specification alignment, CDU and cold source adaptation and system-level verification in advance. (Jiemian News)
Time Unveils Its 2026 Best Inventions List, Ant Aifu Selected
On the evening of October 15, the U.S. magazine Time announced its "2026 Best Inventions" list. "Ant Aifu", the health AI product under Ant Group, was selected, which is also the only Chinese AI application on the list this year. This list is regarded as the vane of global scientific and technological innovation, and DeepSeek was the Chinese AI product selected for the list last year. Time believes that Ant Aifu "makes professional medical and health services more inclusive". In September this year, the number of users of the Ant Aifu App has reached 150 million, with a daily volume of nearly 20 million health consultations.
UK to allocate funds to support the repair of Chernobyl Nuclear Power Plant
The UK government announced on October 15 that it will allocate 17 million pounds (about 22.54 million US dollars) to support the repair work of the Chernobyl Nuclear Power Plant, so as to restore the containment and ventilation functions of the nuclear power plant buildings. According to the announcements released by HM Treasury and the Foreign, Commonwealth & Development Office on the same day, the fund will support an international program coordinated by the European Bank for Reconstruction and Development for relevant repair work. (CCTV News)
The world's largest sovereign wealth fund may lift investment restrictions on enterprises involved in nuclear weapons manufacturing
A Norwegian committee advised the government on October 15 to allow Norway's sovereign wealth fund, the largest of its kind in the world, to invest in enterprises engaged in nuclear weapons production. According to reports from Reuters and other media outlets, this committee appointed by the Norwegian government put forward the proposal, which means that "some European and American" enterprises can become eligible investment targets. The scale of Norway's sovereign wealth fund is about 2.3 trillion US dollars, with more than half of its investments placed in the United States. A quarter of Norway's public expenditure comes from this fund. (Xinhua News Agency)
Baby food exposed for excessive heavy metals, Nestlé and involved subsidiary claimed for compensation of over ten million US dollars
On October 14, the Attorney General of Texas, United States announced the prosecution of Gerber, a subsidiary under Nestlé, accusing it of publicly claiming that its products are safe even when it knows the products contain excessive arsenic, lead and cadmium. The procuratorial authority stated that the arsenic content of 67 batches of Gerber rice cereal is more than 9 times of the US federal standard, and it has filed a lawsuit against Gerber and Nestlé USA, seeking civil fines of over 10 million US dollars (approximately 66.93 million RMB).
Nestlé China responded that the involved products have not been imported into China through official channels, and the products currently on sale in the Chinese market comply with Chinese regulations and are safe for consumption. (CLS)
The two leading US-listed CPU giants have suffered a sharp slump in their share prices
CLS intraday flash report: AMD's share price fell by 7% to $531.360 per share, with a total market capitalization of $867.4 billion. Intel's share price dropped by 8.01% to $90.260 per share, with a total market capitalization of $477.1 billion. By the close of US stocks on that day, AMD closed at $562.23 per share, down 1.50%, with a total market capitalization of $917.8 billion; Intel closed at $95.37 per share, down 2.80%, with a total market capitalization of $501 billion. (CLS, Wind)
The three major U.S. stock indexes closed higher collectively, and popular Chinese concept stocks generally rose
36Kr learned that as of the close of trading on October 15, the three major U.S. stock indexes all posted gains: the Dow Jones Industrial Average rose 1.08%, the Nasdaq rose 0.08%, and the S&P 500 index rose 0.33%. Large tech stocks traded mixed: NVIDIA and Tesla fell more than 1%, Apple and Meta posted slight declines, Microsoft rose more than 1%, while Google and Amazon saw slight increases. Popular Chinese concept stocks generally went up: JD, NetEase, NIO, and XPeng Inc. rose more than 2%, Pinduoduo, Bilibili, and Li Auto rose more than 1%, Baidu recorded a slight increase, while Alibaba posted a slight decline.
The decline in international oil prices has widened, Brent crude oil fell below $104, gold and silver rose in tandem, and more than 180,000 people had their cryptocurrency positions liquidated
On the afternoon of October 15, the decline of international oil prices continued to widen. As of 16:30, Brent crude oil dropped by more than 2% at $103.7 per barrel, WTI crude oil fell 0.76% at $94.36 per barrel. Precious metals moved higher in sync, both gold and silver rose by over 1%, spot gold was at $4155.47 per ounce, and spot silver was at $56.67 per ounce. Major cryptocurrencies slumped collectively, Bitcoin fell nearly 3% at $81278 per coin, and more than 180,000 people across the entire market had their positions liquidated in the past 24 hours. (21st Century Business Herald)
International Energy Agency: Global diesel supply crunch will last until 2027
The International Energy Agency released its monthly oil market report on October 14, stating that affected by factors including continuous disruptions to diesel exports from the Middle East and Russia, the supply shortage in the global diesel market has intensified, inventories keep declining, and the tight diesel supply situation is expected to last until 2027. (CCTV News)
Investment and Financing
"Visual Science" completes financing of tens of millions of yuan in the Angel round and Angel+ round
36Kr has learned that "Visual Science" recently announced the completion of its Angel round and Angel+ round of financing, with a total cumulative amount of tens of millions of RMB. The investors include Shanghai Future Industry Fund, Thick Snow Capital, and Pudong Venture Capital, while Yundao Capital serves as the company's long-term exclusive financial advisor.
"NEXFORM" Completes Tens of Millions of Yuan in Seed Round Financing
Recently, NEXFORM officially announced that it has closed a seed round of financing worth tens of millions of yuan, with investors including Gobi Partners, Zhejiang University Alumni Venture Capital and other institutions. As we know, NEXFORM is a Physical AGI company that deploys its business around the framework of "general hardware platform + developer ecosystem + Physical Agent", takes AI for Physical AI as its R&D paradigm, carries out Auto Research via AI Agentic, and follows the technical route of Physical RSI to promote the self-evolution of robots. The company provides general-purpose robot products and development tools, supports developers to develop physical agents for different scenarios, delivers operational capabilities to customers, and continuously expands the application scope of robots.
"MIRAVA" completes nearly RMB 50 million angel round financing
36Kr learned that MIRAVA, the smart electric yacht company positioned as a water-surface intelligent consumer hardware brand, has recently completed its angel round financing of nearly 50 million RMB. This round is led by Jiuhe Venture Capital, with follow-on investment from Original Capital and Eversnow. The funds will be mainly invested in the R&D and iteration of core technologies, promote the construction of mass production lines to ensure the delivery of the first batch of end-user orders, build a Europe-localized channel and service system, and accelerate overseas market adaptation and commercial expansion.
Large Company Financial Statements
Longsys: Its net profit attributable to shareholders for the first three quarters is estimated to be 14 billion yuan to 14.9 billion yuan, representing a year-on-year increase of 1864.55% to 1990.84%
36Kr learned from the announcement released by Longsys that the company expects its net profit attributable to shareholders in the first three quarters to be between 14 billion yuan and 14.9 billion yuan, up by 1864.55% to 1990.84% year on year. The performance change is mainly attributed to the obvious year-on-year growth of the company's operating revenue and net profit. The storage industry is shifting from the consumer price cycle to the AI-driven technology cycle. Guided by self-developed chips and self-developed software architecture, the proportion of key accounts, high-end customers and global customers of the company continues to rise, and the product and customer structure has been further optimized.
Zhongjin Gold: Net profit for the first three quarters is expected to increase by 50%-58% year on year, and the profitability of main products such as gold and copper has been enhanced
Financial Associated Press, October 15 - Zhongjin Gold (600489.SH) announced that it estimates the net profit attributable to shareholders of listed companies in the first three quarters of 2026 to be 5.520 billion yuan to 5.800 billion yuan, with a year-on-year increase of 50.05% to 57.66%. The growth of the company's performance is mainly attributed to the significant enhancement of the profitability of its main products including gold and copper. Specifically, during the reporting period, the prices of major metals such as gold and copper rose significantly year on year, providing solid support for the revenue side. Meanwhile, by-products such as sulfuric acid also achieved considerable revenue growth, further expanding the profit space. Against the favorable background of the external market environment, the company focuses on optimizing internal management, spares no effort to improve quality, increase efficiency and stabilize growth, and continuously promotes cost reduction and efficiency improvement by deepening lean operation and strictly controlling cost expenditure, which effectively consolidates the foundation of profitability. On this basis, the gross profit margin of core businesses such as mined gold has increased substantially year on year. The combined force of rising prices, contribution of by-products and operational efficiency improvement jointly helps the overall performance grow steadily. Note from CLS: The company's estimated net profit in Q3 is 1.163 billion yuan to 1.443 billion yuan, and the net profit in Q2 is 1.976 billion yuan. Based on this calculation, the estimated net profit in Q3 will decrease by 26%-41% month on month. (Financial Associated Press)
MetaX Co., Ltd.: Estimates its net profit attributable to shareholders for the first three quarters to be between 587 million yuan and 717 million yuan, turning from loss to profit year on year
MetaX Co., Ltd. announced that its operating revenue for the first three quarters is expected to range from 2.541 billion yuan to 3.106 billion yuan, representing a year-on-year increase of 105.60% to 151.29%; net profit attributable to shareholders is estimated to be between 587 million yuan and 717 million yuan, with a loss of 346 million yuan recorded in the first three quarters of 2025, thus realizing a year-on-year turnaround from loss to profit; non-recurring profit and loss deducted net profit is estimated to be between 223 million yuan and 302 million yuan, compared with a loss of 393 million yuan in the first three quarters of 2025, also achieving a year-on-year turnaround from loss to profit. The performance turnaround from loss to profit is mainly attributed to the substantial increase in revenue and the significant growth of investments in enterprises across the industrial chain.
Hengyi Petrochemical: Estimated net profit attributable to owners of the parent for the first three quarters is 7.9 billion yuan to 8.1 billion yuan, representing a year-on-year increase of 3318.59% to 3405.13%
36Kr has learned from the announcement of Hengyi Petrochemical that the company estimates its net profit attributable to owners of the parent for the first three quarters will be in the range of 7.9 billion yuan to 8.1 billion yuan, with a year-on-year growth of 3318.59% to 3405.13%. The performance change is mainly driven by the company's full utilization of the integrated advantage of the entire "oil refining - chemical production - chemical fiber" industrial chain. The Brunei refinery is operating at full load with high profitability, the caprolactam-polyamide project sees booming production and sales, and the profit per ton of each product has increased year on year.
Ganfeng Lithium: Net profit attributable to shareholders in the first three quarters reached 5.012 billion yuan, up 19540.50% year on year
36Kr learned from the announcement of Ganfeng Lithium that the company realized operating revenue of 36.159 billion yuan in the first three quarters, with a year-on-year increase of 147.24%; the net profit attributable to shareholders was 5.012 billion yuan, rising 19540.50% year on year, compared with 25.52 million yuan in the same period of the previous year; the non-recurring gain and loss deducted net profit hit 4.636 billion yuan, compared with a loss of 936 million yuan in the same period of the previous year; the net cash flow from operating activities was 2.295 billion yuan, up 634.77% year on year. The net profit attributable to shareholders in the third quarter was 755 million yuan, representing a year-on-year increase of 35.62%. The performance change is mainly attributed to the rebound of the selling price of lithium series products and the growth of sales volume of lithium battery series products.
Advanced Photonics Technology: Estimated net profit attributable to shareholders for the first three quarters ranges from RMB 279 million to RMB 302 million, representing a year-on-year increase of 142% to 162%
36Kr has learned from the announcement of Advanced Photonics Technology that the company's estimated net profit attributable to shareholders for the first three quarters is between RMB 279 million and RMB 302 million, with a year-on-year growth of 142% to 162%. The performance change is mainly driven by the accelerated global investment in AI computing power infrastructure and data center construction, which has continuously boosted the market demand for high-speed optical modules and optical devices. The company's operating revenue has achieved steady growth, economies of scale have emerged, and cost reduction and efficiency improvement have enhanced the overall profitability. During the reporting period, the estimated impact of non-recurring gains and losses on net profit is about RMB 26.22 million.
Cool Products
Tesla Launches Kids' Balance Bike at a Price of 1399 Yuan
At 10 a.m. on October 15, Tesla's official online store in China launched a Tesla kids' balance bike designed for children aged 2 to 6, priced at 1399 yuan. It has a simple shape and high recognizability, and this balance bike can currently be added to the shopping cart. A Tesla customer service representative told reporters that this two-wheeled balance bike is now open for pre-order, and orders placed at present are expected to be shipped before October 28.
The frame of this balance bike is made of lightweight magnesium alloy, and the seat has 5 adjustable height levels. The net weight of the product is 5.6 kilograms, the recommended maximum load capacity is 30 kilograms, and the absolute maximum load capacity is 35 kilograms. It is suitable for the height range of 85cm to 120cm, and the minimum applicable leg length is 35 cm. The handlebar is built with a steering angle limit device to avoid the risk of accidental rollover caused by excessive steering angle. This balance bike glides by children pushing off the ground with their feet, with no motor and no pedals. It needs to be ridden on a flat, wide, non-slip and obstacle-free road surface. Children must wear helmets and protective gear when riding, and ride under the supervision and protection of adults. (CLS)
36Kr Major Events
Kr Major Events Short Video Column, delivers vivid interpretations of major events across the business world.
From instant noodles to cat food, how many things has this year's super El Niño actually affected?
Edited by | Li Qi