8:00 36Kr 丨 Gold prices have plummeted for consecutive days, and Shenzhen Shuibei is swarmed with people; Only two days after going on sale, Apple iPhone Duo has dropped below its launch price; Demingli: The net profit for the first three quarters is 8.746 billion yuan, representing a year-on-year increase of 32399.91%

Today's Hot News Guide

DeepSeek and MiniMax complete the overseas registration of AI models

WeCom responds to the issue that some accounts are sending pornographic links

The average salary data of 31 provinces for last year has been released

Zhang Xue sets a new Guinness World Record in her hometown

Leading storage chip firm Demingli records a 32399.91% year-on-year net profit growth in the first three quarters

TOP 3 Major News

Gold price plummets, Shenzhen Shuibei is packed with crowds

Affected by the drop in international gold prices, Shenzhen Shuibei witnessed a massive influx of visitors on October 24. Netizens posted online one after another: "There are more people buying gold than in the wet market", "Are they giving out free eggs at the Shuibei market today?". According to CCTV Finance, spot gold prices fell below the $4,000 per ounce mark on Friday US Eastern Time. As of the morning of October 26 Beijing time, spot gold and silver opened slightly higher, with gold rebounding back above the $4,000 level.

Driven by the consecutive days of decline in international gold prices, the prices of pure gold jewelry of many domestic brands were adjusted downward on October 24. Related inquiries show that Lao Miao Gold's pure gold jewelry is quoted at 1196 yuan per gram, down 12 yuan from the previous day; Chow Sang Sang's pure gold jewelry is quoted at 1200 yuan per gram, down 6 yuan from the previous day; Chow Tai Fook's pure gold jewelry is quoted at 1202 yuan per gram, down 6 yuan from the previous day; Lao Feng Xiang's pure gold jewelry is quoted at 1206 yuan per gram, down 6 yuan from the previous day. Earlier on September 24, the per-gram price of domestic branded gold jewelry was generally around 1300 yuan per gram. (Yicai)

Apple iPhone Duo drops below official launch price just two days after going on sale

According to reports on October 25, many netizens have reported that Apple's first foldable iPhone Duo has fallen below its launch price of 15,999 yuan on domestic third-party sales channels, setting the record for the fastest drop below official launch price among new Apple devices in recent years. The price differentiation first emerged on e-commerce platforms. Screenshots show that the 256GB starlight white version is priced at 15,769 yuan after using coupons, 230 yuan lower than the official price. If users get an extra 700-yuan coupon, the price can be further reduced to 15,069 yuan. However, while prices on third-party channels are dropping rapidly, official sales channels are still facing tight supply. At present, if you place an order for delivery on Apple's official website, the delivery period will still be delayed until January 2027.

The topic of "iPhone Duo screen cracking" has also sparked heated discussions. According to feedback from multiple users on overseas forums and domestic social media platforms, Apple iPhone Duo has notable screen defects, with problems such as bright lines and cracks on the screen appearing immediately after unboxing. Apple customer service responded that some users did report the appearance of black and white lines on the screen, but this is not a hardware issue and may be related to changes in the software UI (User Interface). (Bianews, China News Finance)

Leading storage chip enterprise Demingli achieves a 32399.91% year-on-year net profit growth in the first three quarters

According to the announcement of Demingli, the operating revenue in the first three quarters reached 28.555 billion yuan, with a year-on-year increase of 328.81%; the net profit attributable to shareholders of the listed company was 8.746 billion yuan, representing a 32399.91% year-on-year growth. In the third quarter, the operating revenue reached 11.645 billion yuan, up 356.64% year on year; the net profit attributable to shareholders of the listed company was 2.729 billion yuan, with a 2902.75% year-on-year increase. The company's net profit in Q3 was 2.729 billion yuan, and the net profit in Q2 was 2.671 billion yuan. Based on this calculation, the Q3 net profit increased by 2% quarter on quarter. (Cailian Press)

AI Cutting-edge

ByteDance's AI Applications Undergo Further Restructuring: Skylark Merges into Jimeng

36Kr has learned that CapCut recently completed an internal business integration. Skylark, the AI short drama creation platform, has been merged into Jimeng, the intelligent creation platform, and the product still retains an independent entry. This adjustment is mainly for resource integration. At present, Jimeng has accessed the short-drama-related capabilities of Skylark. After the adjustment, the operation of Skylark is taken charge of by Chen Xinran, the head of operation and marketing of Jimeng, and the product team remains unchanged.

UK commits £100 million to set up biosecurity lab, with OpenAI and Anthropic participating in the cooperation

The UK has announced an investment of 100 million pounds (equivalent to 134 million U.S. dollars) to build an AI biosecurity laboratory, with support from OpenAI, Anthropic and Google DeepMind. According to the statement of the UK government, the laboratory will use artificial intelligence to identify and monitor biological threats; at the same time, OpenAI and Anthropic will provide AI model computing power with a maximum quota of 200 million pounds. The laboratory will also carry out cooperation with Google DeepMind and life science enterprise Basecamp Research. The government has allocated an additional 65 million pounds for the research and development of pathogen response measures. (Sina Finance)

Tesla confirms it is independently developing AI maps, which will be gradually rolled out with FSD v15

Ashok Elluswamy, Vice President of Tesla, announced that Tesla is developing an AI-based map and navigation system in-house. This brand-new map solution will go online with FSD v15, integrate data collected by the fleet and personalized route planning, and also support FSD voice control.

He said that this set of AI maps is used to solve a series of problems exposed by the current FSD, including speed limit recognition, parking and route planning. Tesla can overlay rich information on the map such as marked potholed roads, entrances and exits with blocked vision, and dangerous intersections to make driving smoother and safer. (IT Home)

DeepSeek and MiniMax Complete Overseas Registration for AI Models

On October 23, according to Yuyuantantian, a new media platform under China Media Group, two leading domestic artificial intelligence enterprises, DeepSeek and MiniMax, have completed relevant registration formalities, and have cleared the compliance process for open-source release and overseas licensing of their large models. "The completion of registration by the two leading AI large model manufacturers means that while core sensitive technologies are under strict control, the overseas export path of general-purpose open-source large models has been further clarified," a chief analyst of the computer industry at a top-tier brokerage told the reporter of Science and Technology Innovation Board Daily.

On October 16, the Ministry of Commerce and the Ministry of Science and Technology jointly issued an announcement to solicit public opinions on the revision of the *Catalogue of Technologies Prohibited and Restricted from Export of China*, planning to bring 23 AI technologies into the scope of export control; relevant control requirements also apply to AI models containing restricted technologies that are deployed overseas. (Cailian Press)

Tencent WorkBuddy Integrates the Kimi-K3.1-Pro Model

On October 24, Tencent WorkBuddy announced that it has integrated the Kimi-K3.1-Pro model. According to the introduction, WorkBuddy has also synchronously accessed the high-speed version model Kimi K3.1 Pro Highspeed, which maintains the same level of intelligence with an output speed about 2 to 3 times faster. Due to tight resources at present, priority access is only open to "Enterprise Flagship Edition" and "Personal Subscription Users" at this stage.

Big Companies / Major Events

Average wages of 31 provincial-level administrative regions for last year released

According to data released by the National Bureau of Statistics of China, in 2025, the annual average wage of employees in urban non-private entities across the country reached 129,441 yuan, representing a nominal year-on-year increase of 4.3%, 1.5 percentage points higher than the growth rate of the previous year, and a real growth of 4.2% after adjusting for price factors. The annual average wage of employees in urban private entities stood at 71,590 yuan, with a nominal year-on-year growth of 3.0%, 1.3 percentage points higher than the previous year, and a real growth of 2.9% after deducting price factors. In terms of average wages, among non-private entities, 12 provincial-level regions have an average annual wage exceeding 120,000 yuan, namely Shanghai, Beijing, Xizang, Tianjin, Guangdong, Zhejiang, Jiangsu, Qinghai, Ningxia, Chongqing, Hainan and Xinjiang. For the average wage of employees in urban private entities, 8 provincial-level regions have a figure over 70,000 yuan, namely Shanghai, Beijing, Guangdong, Xizang, Zhejiang, Jiangsu, Tianjin and Fujian. (Yicai)

Shimao Group: The total outstanding principal of the affected debt instruments is approximately USD 9.068 billion

36Kr learned that Shimao Group released an announcement on the Hong Kong Stock Exchange, the Company hereby provides updated information on the impact of the winding-up petition on the short-term notes, short-term loans, Series A long-term notes, Series B long-term notes, Series C long-term notes, long-term loans and Long-term Note B (collectively referred to as the "Affected Debt Instruments") issued or assumed by the Company as part of its offshore debt restructuring as disclosed in the restructuring announcement. As of the date of this announcement, the total outstanding principal of the Affected Debt Instruments is approximately USD 9,068,154,524, of which the short-term loans and long-term loans are USD 770,997,665 and USD 1,268,807,997 respectively. In accordance with the applicable terms of the Affected Debt Instruments, as the petition has not been withdrawn or suspended within 60 consecutive days from the date of service on August 27, 2026, an event of default has occurred under each Affected Debt Instrument after the expiration of such period on October 25, 2026. As of the date of this announcement, the Company has not received any immediate repayment notice or request in relation to the Affected Debt Instruments.

The post-2000s generation product manager repeatedly used the term "laodeng" and issued an apology afterwards; Vice President of XPeng responded to the incident

On October 24, Yu Tao, Vice President of XPeng Group, published a long post on his social media account "Thomas EV" to respond to the full context of the incident where XPeng MONA product manager En Ta used the term "laodeng" at the launch event. He stated that from start to finish, the title "laodeng" was a playful nickname the product team used for several core internal leaders, and it never targeted any external users. "None of these 'laodeng' felt displeased, instead, they repeatedly praised this move internally." "The real peer culture in the internet industry is probably not the rigid strict hierarchy with clear gaps between superiors and subordinates in other enterprises, but the relaxed atmosphere where young people dare to crack jokes with their bosses. The subsequent apology video was proposed by En Ta of her own accord. She noticed that some people who did not watch the full live stream had misunderstandings, and thought she had made an omission in her wording, so she voluntarily recorded the video to explain the whole story." he wrote. He noted that "En Ta will still stand on the stage of the launch event, and jointly give the presentation together with product manager Ouyang Nana and He Xiaopeng, the 'representative of laodeng'." (Yicai)

WeChat Responds to a Small Number of WeCom Accounts Sending Pornographic Links: Will Further Intensify the Crackdown on Plug-in Software

36Kr has learned that according to the official account of "WeChat Open Class", on October 24, the WeCom security team released an announcement on resolutely and continuously cracking down on plug-in software. The announcement noted that a small number of WeCom accounts sent suspected pornographic traffic-diverting messages to customers. After investigation by the WeCom security team, it was confirmed that a third-party plug-in software service was compromised, causing accounts that used this plug-in service to be affected. WeCom has forcibly logged out the affected accounts and blocked the relevant traffic-diverting links. WeCom stated that it will further step up its efforts to crack down on plug-in software.

Zhang Xue Sets a New Guinness World Record in His Hometown

On October 25, Zhang Xue, founder of "Zhang Xue Motorcycle", successfully challenged the Guinness World Record for "the longest distance a modified motorcycle travels on open waters" by riding a modified motorcycle in Xiaopo Village, Guogongping Town, Mayang Miao Autonomous County, Huaihua City, Hunan Province, completing a total journey of 40.74 kilometers. After 17 years, the wish he failed to realize in the past has finally been fulfilled on the water of his hometown. In this challenge, Zhang Xue rode the MX450 modified motorcycle on the open river channel, breaking the previous Guinness World Record of 31.8 kilometers. The official Guinness certification team witnessed the whole process and verified relevant data on site, confirming the validity of the challenge, and the brand new record was officially established. (Xinhua News Agency, CCTV Finance)

The U.S. Department of Energy Designates Helium as a Critical Material

On local time this Friday (October 23), the U.S. Department of Energy announced that it has designated helium as a critical material in accordance with the Energy Act of 2020, to strengthen the security of U.S. manufacturing and supply chains. This decision made by the U.S. Department of Energy makes helium the 20th critical material designated by the agency, and brings this industrial gas into the critical material framework stipulated by the Energy Act of 2020, which means helium will be subject to stricter government regulation. U.S. Secretary of Energy Chris Wright stated in a statement: "Helium is critical to the production of semiconductors and advanced technologies that drive the development of the U.S. economy. By designating helium as a critical material, we have taken another step forward in securing supply chain security, creating jobs in the United States, and ensuring that the United States maintains its global leading position in the field of energy and technological innovation." (CLS)

2025 Marriage Data of 31 Provincial-level Administrative Regions Released, Guangdong Ranks First in Number of Marriage Registrations for Four Consecutive Years

According to *China Statistical Yearbook 2026* compiled and published by the National Bureau of Statistics of China, a total of 6.7651 million couples completed marriage registration across the country in 2025. The top 10 provinces by the number of marriage registrations are Guangdong, Henan, Shandong, Sichuan, Jiangsu, Hebei, Zhejiang, Anhui, Guizhou and Yunnan in sequence. Among them, Guangdong has 613,800 registered couples, which is the only province across the country with the number of marriage registrations exceeding 600,000, and has topped the national ranking for four consecutive years. (Yicai)

The probability that the Federal Reserve will keep interest rates unchanged this week stands at 90%

According to CME "FedWatch": The probability that the Federal Reserve will hold interest rates steady this week is 90%, and the probability of a cumulative 25 basis point rate hike is 10%. By December, the probability that the Federal Reserve will keep interest rates unchanged is 23.8%, the probability of a cumulative 25 basis point rate hike is 68.9%, and the probability of a cumulative 50 basis point rate hike is 7.3%. (CLS)

Prime Editing "Rewrites" DNA in Human Body for the First Time

According to the report on the official website of British journal *Nature* on the 22nd, US biotechnology company Prime Medicine announced that it has used prime editing technology to directly edit DNA in the human body for the first time to treat a patient with Wilson's disease. The results of the first batch of clinical trials are expected to be released in 2027. (Science and Technology Daily)

Apple Plans to Optimize Safari Layout on the External Screen of iPhone Duo

Apple is considering making adjustments to the Safari browser on iPhone Duo to allow web pages to take up more display area of the external screen, but Apple has not yet finalized the final plan. The difficulty lies in allowing web pages to fill the space below the sidebar controls of Safari without making the page content blocked and inaccessible. In an official blog post on WebKit on Friday, October 23, Apple engineer Jen Simmons said that the existing web page configuration can achieve this effect, but Apple's research found that a large number of websites are not properly compatible with this setting.

Amazon CEO: The company's cloud computing capacity is almost fully sold out by the end of 2027

According to reports, Andy Jassy, CEO of Amazon, stated that driven by the growing demand for AI infrastructure, the cloud computing capacity of Amazon Web Services has been almost fully sold out by the end of 2027, and a large number of orders have been scheduled to 2028. Jassy said that Amazon is making every effort to meet the continuous demand from AI labs and enterprises. (Jiemian News)

IPO in Progress

Dongshan Precision has set the H-share issuance price at HK$86.80 per H-share

Dongshan Precision released an announcement on the Hong Kong Stock Exchange that the issuance price was determined as HK$86.80 per H-share on October 24, 2026. It is expected that the H-shares will start trading on the Main Board of the Stock Exchange of Hong Kong at 9:00 a.m. on October 28, 2026. H-shares will be traded in a board lot of 100 H-shares. (CLS)

Large Company Earnings Reports

Lens Technology: Net profit attributable to owners of the parent in the third quarter is 843 million yuan, down 50.42% year on year

Lens Technology announced on October 25 that in the third quarter of 2026, it achieved operating revenue of 19.035 billion yuan, down 8.05% year on year; the net profit attributable to owners of the parent was 843 million yuan, down 50.42% year on year; basic earnings per share was 0.16 yuan. In the first three quarters, the operating revenue reached 47.902 billion yuan, down 10.74% year on year; the net profit attributable to owners of the parent was 1.42 billion yuan, down 50.06% year on year; basic earnings per share was 0.27 yuan.

Tianqi Lithium: Net profit of 1.36 billion yuan in the third quarter of 2026, a year-on-year increase of 1323.97%

36Kr learned from the announcement of Tianqi Lithium that its operating revenue in the third quarter of 2026 was 6.037 billion yuan, up 135.4% year on year; the net profit attributable to shareholders of the listed company was 1.36 billion yuan, up 1323.97% year on year. In the first three quarters of 2026, the operating revenue reached 18.279 billion yuan, a year-on-year increase of 147.11%; the net profit attributable to shareholders of the listed company was 5.602 billion yuan, a year-on-year increase of 3013.86%.

Benchuan Intelligent: Net profit attributable to owners of the parent in the third quarter reached 62.5093 million yuan, a year-on-year increase of 438.11%

36Kr learned from the announcement of Benchuan Intelligent that the company achieved operating revenue of 1.127 billion yuan in the first three quarters, representing a year-on-year increase of 83.68%; the net profit attributable to owners of the parent was 105 million yuan, up 218.09% year on year. In the third quarter, it recorded operating revenue of 516 million yuan, a year-on-year increase of 120.52%; the net profit attributable to owners of the parent was 62.5093 million yuan, a year-on-year increase of 438.11%.

Tianyuan Co., Ltd.: Net profit for the first three quarters increased by 753.11% year on year

Tianyuan Co., Ltd. (002386.SZ) announced that its operating revenue in the third quarter reached 3.224 billion yuan, up 14.26% year on year; its net profit was 61.0932 million yuan, up 305.80% year on year. For the first three quarters, the operating revenue totaled 10.689 billion yuan, up 25.90% year on year; the net profit was 270 million yuan, up 753.11% year on year. Note from Finance Editor: The company's net profit in Q3 was 61 million yuan, and the net profit in Q2 was 133 million yuan. Calculated on this basis, the net profit in Q3 decreased by 53% quarter on quarter.

Investment and Financing

Yizhu Technology Completes a New Round of Financing Exceeding 1 Billion Yuan

36Kr has learned that Yizhu Technology, a computing-in-memory AI chip company, has announced the completion of a new round of financing with a total amount of over 1 billion yuan. The company's fully digital general-purpose computing-in-memory AI chip based on 3D DRAM has finished tape-out, and the test results of its commercial chips have basically met the preset design indicators. The funds raised in this round of financing will be used for R&D investment, product iteration and industrialization promotion.

The world's largest independent AI film and television company Utopai Studios has joined the unicorn ranks

According to media reports, Utopai Studios, the world's largest independent AI film and television company, has closed a financing round at a valuation of 1 billion US dollars, making it a unicorn, and is currently negotiating investment intentions for a new round with a valuation ranging from 2 billion to 3 billion US dollars.

Compiled by | Chang Yi