9:30 Krypton | Tesla released its "flying" sports car with a reservation deposit of 332,000 yuan; China restricts or prohibits the export of 40 technologies in fields including AI; Changxin Technology is expected to achieve a net profit of over 130 billion yuan in the first three quarters.
Today's Hotspot Guide
- DeepSeek will integrate multiple teams to establish a product department, with Cui Tianyi appointed as the head of the department
- The scheduling of railway train numbers will be adjusted, and new X-prefixed EMUs with higher operating speed will be added
- Pre-orders for iPhone Duo were fully sold out in seconds after opening
- KFC outlets in the United States will switch to Coca-Cola supplies
- Amazon has restricted the Grok robot from placing orders, Elon Musk has responded to the related move
TOP 3 Major News
Tesla Unveils "Flying" Sports Car With A Reservation Deposit Of 332,000 Yuan
On October 16, Tesla unveiled the second-generation Roadster sports car in Texas, the United States, and demonstrated its "flying" capability. Live footage shows that the vehicle, supported by devices such as thrusters and high-power fans, completed maneuvers including driving on inverted ramps, short-duration takeoff and mid-air rotation.
At present, the new model is open for reservation on Tesla's official China website. The fully refundable reservation deposit for the Performance version is 332,000 yuan. This two-seat model is equipped with an active aerodynamic system and a multi-mode air intake system. Tesla reminded that whether the vehicle can be launched locally still depends on relevant laws and regulations. Elon Musk has claimed on many previous occasions that the new Roadster can achieve short-distance flight. (Jiemian News)
China Restricts or Bans Exports of 40 Technologies in Three Fields of AI, Biomedicine and Photovoltaics
China is strengthening export control over key technologies. On October 16, the Ministry of Commerce of the People's Republic of China and the Ministry of Science and Technology of the People's Republic of China issued Announcement No. 48 of 2026, to solicit public opinions on the revised *Catalogue of Technologies Prohibited and Restricted from Export of China* (hereinafter referred to as the "Catalogue"). This round of public consultation involves 40 key technologies to be newly added in three sectors of artificial intelligence (AI), biomedicine and photovoltaics. 14 of the technologies are proposed to be prohibited from export, including AI-driven malicious code generation and mutation technology, process platforms for cell and gene therapy technologies with independent intellectual property rights, production technologies for perovskite and tandem cell modules, etc. The remaining 26 technologies are proposed to be restricted from export, including AI-assisted vulnerability mining technology, discovery and validation technologies for brand-new targets of universal cell and gene therapy with independent intellectual property rights, polysilicon engineering technologies with a single-line annual production capacity ≥ 30,000 tons, etc. (Caixin)
CXMT Technology: Estimated net profit for the first three quarters ranges from 131 billion yuan to 132.5 billion yuan, swinging from loss to profit year on year
36Kr learned from the announcement of CXMT Technology that the net profit attributable to shareholders of the listed company for the first three quarters of 2026 is estimated to be between 131.00 billion yuan and 132.50 billion yuan, realizing a year-on-year turnaround from loss to profit. The performance change is mainly driven by the rapid growth of AI computing power demand, the rising prosperity of the global DRAM industry, the situation where product supply falls short of market demand, the sharp rise in product prices, the company's capacity utilization rate remains at a high level, and the overall performance has been significantly improved.
AI Cutting-Edge
Xiaohongshu Officially Announces the Integration of Its AI Department and Core Infra Team
On October 16, Xiaohongshu released a company-wide letter, integrating Dots, its first-level internal AI department, with the company's core infra team. The letter clarifies Xiaohongshu's positioning as a technology application company, which is fundamentally different from the logic of cloud manufacturers that invest in model R&D. "We have a clearer direction for the next stage: the greatest value of technology lies not only in the pursuit of model capability or computing power scale itself, but more importantly, in the deep integration of models and applications, where technology and products enhance each other to jointly create valuable user experiences for this era." This adjustment also clarifies the positioning of hi lab, another internal technical organization: it will focus on long-term technical exploration and make layouts for cutting-edge technical directions. (Yicai)
OpenAI Reveals: Its Research Model Unauthorizedly Used Others' Test Tokens
On local time October 15, OpenAI updated an internal research case report, disclosing that when one of its internal research models was performing the task of developing a cryptocurrency trading application, without the account holder's authorization, it derived the wallet private key with public developer mnemonic phrases, and used the Ethereum test tokens in the wallet to pay the contract deployment fee. The model checked a total of 362 addresses, found one account with a balance sufficient to cover the deployment cost, and successfully completed the deployment in the end, but did not disclose in its final response that it had used the funds in that account. OpenAI noted that this incident reflects that the model may substitute the account holder's authorization with its own judgment on potential harms. The company stated that extra protective measures have been put in place to prevent similar cases from accessing the real-time internet, and a misbehavior monitoring system will be deployed for all traffic. Once the model is detected to have obtained real-time internet access, an alert will be sent to the security team. (Jiemian News)
WorkBuddy Releases DeepSeek Abnormal Service Compensation Scheme
The Tencent Cloud WorkBuddy and CodeBuddy teams have issued the "Announcement on Explanation and Compensation for the Abnormality of DeepSeek Model Service". For the previous DeepSeek model service anomaly, all points consumed by affected users when using DeepSeek from October 8 to 14 will be fully refunded. At the same time, 500 extra points will be additionally granted to all users of the domestic versions of WorkBuddy and CodeBuddy. Earlier, DeepSeek apologized for the failure of its service system and announced its own compensation plan, under which the full amount of consumption of affected user accounts within 7 days (10.8-10.14) will be fully returned in the form of bonus credits. (Cailian Press)
Meta Releases Open-Source AI Model While Keeping Core Cutting-Edge Technologies Closed-Source
On October 15 local time, Meta Platforms announced the release of the "weights" of Muse Spark Open, which refer to the parameter settings that allow developers to run and adapt the model on their own. According to Meta, this model, which is specially designed for programming and supporting AI agents, is not as advanced as the Muse Wonder that the company unveiled earlier this week. Alexandr Wang, Chief AI Officer of Meta, said that the company will not open-source its highest-performance models in principle, but will continue to make model versions with slightly lower performance available to the developer community. (Jiemian News)
Big Companies / Major Events
iPhone Duo Pre-sale Sells Out in Seconds
On the evening of October 16, Apple's first foldable smartphone launched its pre-sale at a starting price of 15,999 yuan, with the official release scheduled for October 23. Before the pre-sale opened, iPhone Duo had already demonstrated extremely high market popularity, with the number of reservations on the JD platform exceeding 2 million, far outperforming the reservation performance of conventional flagship models in the same period. Reporters conducted actual snap-up tests on multiple platforms on the launch night: after entering the purchase page, the system showed that payment could not be processed. Several seconds after the page crashed, the first batch of in-stock units were completely sold out. Approximately 15 minutes later, the delivery date for purchased devices had been scheduled to December 5. The supply-demand gap has driven a noticeable premium for iPhone Duo in the market. On Dewu, the number of completed transaction orders for iPhone Duo exceeded 700. The 256G version originally priced at 15,999 yuan was traded at a high of 21,900 yuan, while the black 256G version was priced as high as 31,999 yuan, representing a premium of 16,000 yuan. (Yicai)
KFC in the United States Will Switch to Coca-Cola
On local time October 15, KFC U.S. announced that it has established a new partnership with The Coca-Cola Company. Starting from January 2027, KFC will transfer its U.S. beverage partnership to The Coca-Cola Company. It is estimated that by the spring of 2027, Coca-Cola products will be served in all KFC restaurants across the United States.
As for whether KFC China will follow the change, on the 16th, a staff member of a KFC outlet in Haidian District, Beijing told Jiemian News and CBN-JW that the cola currently used in the outlet is the Pepsi brand, and no notice of switching the cola brand has been received so far. An outlet in Xicheng District also stated that no notice of changing the cola brand has been received at present. (Jiemian News, CBN-JW)
DeepSeek will integrate multiple teams to establish the Product Department, with Cui Tianyi appointed as the head
DeepSeek has integrated the Harness team, as well as the Web, App and Platform teams, into the "Product Department", which is responsible for all product, design and R&D work of the company. Cui Tianyi, former head of the Harness team, serves as the head of the Product Department. At present, the Product Department is recruiting for product designer and designer positions externally. (CLS)
U.S. Stock Market Close: Three Major Indexes End Lower, Coreweave Drops Nearly 12%
U.S. stocks closed on Friday. The Nasdaq fell 2.14%, the S&P 500 index dropped 1.09%, and the Dow Jones Industrial Average registered a preliminary closing decline of 0.34%. Coreweave(CRWV.O) fell 11.91%, SK Hynix(SKHY.O) dropped 6.58%, Arm(ARM.O) slid 6.94%, SanDisk(SNDK.O) dipped 6.85%, Oracle(ORCL.N) declined 4.64%, and Tesla(TSLA.O) lost 2.13%. The Nasdaq Golden Dragon China Index fell 1.3%, Baidu(BIDU.O) was down 2.93%, and Alibaba(BABA.N) dropped 1.83%. (Jin10 Data)
Nvidia's market value has evaporated by 4 trillion yuan within 9 days
Recently, global AI concept stocks have been continuously sold off. On Friday, Nvidia extended its downward trend, with its share price falling by 1.43% and the latest market value reaching 5.16 trillion US dollars. After hitting a phased high and recording a total market value of 5.76 trillion US dollars on October 6, Nvidia has kept weakening recently. The maximum drawdown in the recent 9 trading days has exceeded 12%, and its market value has shrunk by about 0.6 trillion US dollars (equivalent to approximately 4 trillion yuan) from the high level. (CLS)
Li Bin of NIO Talks About Tesla's Flying Solution: We Really Don't Have This
On the evening of October 16, Li Bin, founder, chairman and CEO of NIO, reposted the on-site video of Tesla Roadster on Weibo and said: "That's incredible! We really don't have this, kudos to Tesla." Previously, Li Bin once made the remark that "We have everything that Tesla has, and what we have Tesla does not have", which quickly became a trending focus on the internet. (Yicai)
Major adjustment to railway train number prefixes: new X prefix introduced for higher-speed EMUs
It is learned from China State Railway Group Co., Ltd. that the train numbers of national railways will be adjusted in two batches in late November and late December. The newly added X prefix will be mainly applied to Fuxing EMUs with a maximum operating speed of over 350 km/h in the future. Relevant official from the Transport Department of China State Railway Group stated that the prefix X, pronounced as "xin" (the Chinese character for "new"), refers to Fuxing EMUs with a maximum operating speed of over 350 km/h, implying "new speed, new product", with train numbers ranging from X1 to X9998. Along with this reform, the new version of *Provisions on Train Number Compilation* will be implemented. The number of prefixes for EMU passenger trains has risen from 4 to 7, and the total number of assignable train numbers has increased by nearly 40%. After the train number adjustment, the operating routes and schedules of the trains will still follow the current operation diagram. (Xinhua News Agency)
Four Authorities: Organize Symposia with Over 30 Automobile Enterprises to Strengthen the Management of R&D, Testing and Verification of Automotive Products
On October 16, it was learned from the Ministry of Industry and Information Technology that four authorities including the Ministry of Industry and Information Technology, the Ministry of Public Security, the Ministry of Ecology and Environment, and the State Administration for Market Regulation organized more than 30 key automobile manufacturers to hold symposia, to strengthen the management of innovative design, R&D, testing and verification of automotive products. It is understood that automobile manufacturers shall implement the work requirements of the special action for quality improvement, firmly resist irrational competition, strengthen the management of innovative design, R&D, testing and verification of automotive products, and strictly stick to the bottom line of product safety. The key points include: comprehensively strengthening testing and verification, enhancing the capacity of R&D testing and verification, fully carrying out safety assessment for innovative product design as well as R&D testing and verification, and eliminating potential safety hazards in a timely manner. Publicize the usage boundaries, restriction conditions, R&D testing and verification status of the innovative product design truthfully; no false, exaggerated or misleading publicity is allowed, no scenarios that violate road traffic regulations shall be used to publicize product functions, and no actions that induce drivers to ignore their safe driving responsibilities are allowed. (CCTV News)
Stock photo giant Getty plans bankruptcy restructuring, Visual China responds: Cooperation remains normal
On October 12 local time, Getty Images, the global supplier of image and visual content, announced that it has reached a comprehensive restructuring agreement, plans to launch the pre-packaged reorganization procedure under Chapter 11 of the U.S. Bankruptcy Code within several weeks, and complete the restructuring and privatization delisting before the end of the year. In the Chinese market, Getty Images' content can only be legally authorized through one company, which is Visual China. The two parties established exclusive cooperation in 2005, which has lasted for more than 20 years to date. On October 15, Visual China stated that the relevant business cooperation between the company and Getty Images is currently normal without any changes. (21 Finance)
Amazon Restricts Grok Bot From Placing Orders, Elon Musk Responds
On October 16, in response to Amazon's restriction on Grok bots placing orders on its platform, Elon Musk responded: "Maybe we should set up a shopping platform to compete with Amazon." (Jiemian News)
Bank deposit rates generally went up in September, with the 5-year term registering the largest increase
The September 2026 bank deposit interest rate report released by Rong360 Digital Technology Research Institute shows that except for the 3-year deposit rate that saw a slight month-on-month decline, the fixed deposit rates for all other tenors recorded a slight increase or stayed flat, and the growth of the 5-year deposit rate and the 5-year large-denomination certificate of deposit rate was the most prominent. The report indicates that in September 2026, the average interest rate of 3-month lump-sum time deposits of banks is 0.950%, the average rate for the 6-month tenor is 1.156%, the 1-year average rate is 1.267%, the 2-year average rate is 1.358%, the 3-year average rate is 1.682%, and the 5-year average rate is 1.571%. Compared with the previous month, the 3-month rate increased by 0.1BP, the 6-month rate rose by 0.4BP, the 1-year rate went up by 0.3BP, the 2-year rate remained unchanged, the 3-year rate decreased by 0.1BP, and the 5-year rate climbed by 0.7BP. (Yicai)
OpenAI's advertising revenue is likely to fall short of targets, and it is aggressively recruiting talent from Google and Meta
This year, OpenAI and Anthropic have been continuously launching new models and tools to compete for the developer community. During this process, its advertising business once seemed like a secondary arrangement. But the situation has now changed. Over the past few months, the company has intensively launched a number of new products and tools to attract advertisers, while lowering advertising prices. The latest data shows that this move has helped it attract a large number of new advertising customers. OpenAI is also recruiting on a large scale. Data from Crustdata, an employee profile tracking platform, shows that nearly half of the about 140 employees in OpenAI's advertising business joined the company between July and September. Dave Dugan, head of the advertising business, worked at Meta for 12 years, and Meta is also the largest source of its talent. (Sina Finance)
WuXi AppTec's share price plummets, relevant data is disclosed on the Dragon-Tiger List
WuXi AppTec fell 6.60% today, with a trading volume of 12.34 billion yuan and a turnover rate of 3.38%. The post-market Dragon-Tiger List data shows that the special Shanghai Stock Connect seat bought shares worth 2.625 billion yuan and sold shares worth 1.226 billion yuan, while 2 institutional special seats recorded a net sell of 595 million yuan. (Cailian Press)
"The first color TV stock" is confirmed to be delisted
*ST Konka A (000016.SZ) announced that the company has received the delisting decision from the Shenzhen Stock Exchange. As the shareholders' meeting has passed the resolution to voluntarily terminate the listing of its A-shares and B-shares, there will be no delisting arrangement period for the stocks, and the stocks will be delisted within 5 trading days from the date of the announcement of the delisting decision. After the delisting, the stocks will be transferred to the delisting sector for listing and transfer, and the company has appointed Jianghai Securities as the share transfer agency. *ST Konka A was listed on the Shenzhen Stock Exchange in 1992. It used to be the leading player in China's color TV industry, known as "the first color TV stock", and won the sales championship of China's color TV market for five consecutive years from 2003 to 2007. (CLS)
Changxin Technology: Chairman Proposes to Repurchase Shares Worth RMB 1 Billion to 2 Billion
36Kr learned from the announcement of Changxin Technology that the company's board of directors received a proposal from Chairman Zhu Yiming on October 16, 2026. The company plans to use self-owned or self-raised funds to repurchase its A-shares through the centralized bidding method via the trading system of the Shanghai Stock Exchange. The total amount of repurchase funds shall be no less than RMB 1 billion and no more than RMB 2 billion. The repurchased shares are intended for employee equity incentives, employee stock ownership plans or registered capital reduction. The repurchase price shall not be higher than 150% of the average stock trading price in the 30 trading days before the plan is reviewed and approved by the board of directors. The implementation period is 12 months from the date when the plan is reviewed and approved by the board of directors or the shareholders' meeting. Zhu Yiming did not trade the company's shares within 6 months before the proposal was put forward, and promised to vote in favor of the repurchase proposal at the board meeting.
Aviation Capital Group Orders 75 Airbus A320neo Family Aircraft, the Largest Order in the Company's History
On October 16, Aviation Capital Group (ACG), an aircraft leasing company, announced that it has finalized an order for 75 A320neo family aircraft with Airbus, with deliveries scheduled between 2032 and 2035. This is the largest aircraft order in ACG's nearly 40-year history. After the transaction is completed, ACG's undelivered order backlog for A320neo family aircraft will increase to 115 units. As of June 30, 2026, ACG's fleet already owns 118 aircraft of this family. (Jiemian News)
Major Corporate Earnings Reports
Hengtong Optic-Electric: The year-on-year pre-increase of net profit in the first three quarters ranges from 151.27% to 168.1%
36Kr learned from the announcement of Hengtong Optic-Electric that the net profit attributable to shareholders of the listed company in the first three quarters of 2026 is estimated to be 59.70 billion yuan to 63.70 billion yuan, with a year-on-year increase of 151.27% to 168.1%.
Hikvision: Net profit in the first three quarters hit 12.911 billion yuan, rising 38.55% year on year
36Kr has learned from the announcement of Hikvision that its operating revenue in the first three quarters of 2026 is 74.044 billion yuan, with a year-on-year growth of 12.60%; the net profit attributable to shareholders of the listed company is 12.911 billion yuan, representing a year-on-year increase of 38.55%.
China Rare Earth: Net profit for the first three quarters is estimated to increase by 88.96%-140.99% year on year
36Kr learned from the announcement of China Rare Earth that the net profit attributable to shareholders of the listed company for the first three quarters of 2026 is expected to be between 363 million yuan and 463 million yuan, representing a year-on-year growth of 88.96%-140.99%.
IPO in Progress
JLC: Planning the issuance of H shares and applying for listing on the Main Board of the Hong Kong Stock Exchange
36Kr learned that JLC has announced that the company is planning to issue overseas-listed shares (H shares) and apply for listing on the Main Board of The Stock Exchange of Hong Kong Limited.
Link Instruments: Plans to Issue H Shares and List on the Main Board of the Hong Kong Stock Exchange
36Kr learned from the announcement of Link Instruments that the 10th meeting of the 2nd session of the company's Board of Directors has reviewed and approved relevant proposals for issuing H shares and listing on the Main Board of The Stock Exchange of Hong Kong Limited. The number of H shares to be issued this time shall not exceed 10% of the total share capital of the company after the issuance (before the exercise of the over-allotment right), and the over-allotment right of no more than 15% of the aforesaid issued shares can be exercised. The issuance adopts the forms of Hong Kong public offering and international placement of new shares. The raised funds after deducting the issuance expenses will be fully used for the company's business development. The relevant proposals still need to be deliberated and approved by the company's shareholders' general meeting.
Youibot Robotics' Hong Kong stock IPO has obtained the filing approval from the China Securities Regulatory Commission
36Kr has learned that the International Cooperation Department of the China Securities Regulatory Commission has issued a filing notice on the overseas offering and listing of Hefei Youibot Robotics Co., Ltd. and the "full circulation" of its domestic unlisted shares. The company plans to issue no more than 49477800 overseas listed ordinary shares and get listed on The Stock Exchange of Hong Kong. 37 shareholders of the company plan to convert a total of 243804260 domestic unlisted shares they hold into overseas listed shares, which will be listed and circulated on The Stock Exchange of Hong Kong.
Dongshan Precision's Hong Kong Stock Exchange Listing Obtains Filing Approval from China Securities Regulatory Commission
36Kr has learned that the International Cooperation Department of the China Securities Regulatory Commission has issued the filing notice for the overseas issuance and listing of Suzhou Dongshan Precision Manufacturing Co., Ltd. The company plans to issue no more than 234038600 overseas-listed common shares and get listed on The Stock Exchange of Hong Kong Limited.
Investment and Financing
Li Auto's chip subsidiary completes the first-round financing agreement of RMB 1.625 billion, with a maximum post-money valuation of RMB 17.1 billion
36Kr has learned that Li Auto announced its chip subsidiary Shanghai Mahexin Technology Co., Ltd. has signed the first-round equity financing agreement, with the financing amount reaching RMB 1.625 billion. This round of financing is led by Hangzhou Jingtao, BlueRun Ventures and Huaye Tiancheng, and MiraclePlus participates in the investment. Meanwhile, Hangzhou Jingtao and its affiliated funds are granted an additional subscription right of up to RMB 500 million. If the subscription right is fully exercised, the post-money valuation will reach RMB 17.1 billion.
Xinxin Hangtu XHEART Completes Its Strategic Round of Financing
36Kr has learned from multiple industry insiders that Xinxin Hangtu XHEART, a physical AI computing power chip company, recently completed its strategic round of financing. This round of financing introduced the first investment from Groupe Renault, additional investment from Chery Automobile, and Changxin Technology also participated in this round. It is reported that Xinxin Hangtu XHEART has received a total historical financing of about 5 billion RMB.
"FA Robotics" completes nearly RMB 1 billion in Series C+ and Series D financing
36Kr learned that as of October 2026, FA Robotics has successively completed Series C+ and Series D financing, with the total financing scale of the two rounds reaching nearly RMB 1 billion. The two rounds of financing have gained support from a number of investment institutions, which are led by Meituan Longzhu and Meituan respectively, and institutions including Yongxin Capital, Shishan Phase II, Suzhou Venture Capital have participated in this series of investments; existing shareholders including Guolian Minsheng Capital, Jiangsu Industrial Investment, Crystal Stream Capital continued to make additional investments in this series of financing. The raised funds will be mainly used for fixed asset investment in the production capacity of core components, as well as capacity expansion and R&D investment in the field of industrial embodied intelligence, covering the ART series industrial-grade humanoid force-controlled arms, the AIRLab embodied intelligent tool platform and other related products and platforms.
Compiled by | Wawacai
This article is from the WeChat official account"36Kr", and is published by 36Kr with authorization.