8:00 36Kr Briefing丨Zhang Xue responds to the claim that "the starting annual salary of 100,000 yuan for campus recruitment is deemed too low"; A shares stage an epic surge; Apple issues an apology over the issue that "iPhone shows -30℃ in many regions next Friday"

Today's Hotspot Overview

• Chinese micro-short dramas have got their official English name: Duanju
• Guo Qing, person in charge of JD's food delivery business track, has resigned
• The largest single share repurchase in the history of the STAR Market is coming
• Elon Musk responds to the US midterm elections
• Weilong completes leadership reshuffle, post-90s Yu Feng takes over as CEO
• Luckin Coffee releases its Q3 financial report, saving 1.1 billion yuan in delivery fees in the third quarter

TOP 3 Major News

Campus Recruitment Starting Salary of 100,000 Yuan Is Considered Too Low, Zhang Xue: Choice Is Mutual

Zhang Xue, founder of Zhang Xue Motorcycle, offered an annual starting salary of 100,000 yuan for R&D positions in the campus recruitment at Chongqing University, which raised doubts among students. Compared with the salary of local automobile enterprises, it is considered to be less competitive. Zhang Xue responded that recruitment is a two-way choice, and enterprises cannot be forced to raise salaries. This campus recruitment plans to recruit 100 people, 70% of whom are R&D positions, with supporting benefits such as staff dormitories and regular salary raise mechanisms. Meanwhile, a special recruitment channel is set up, and the salary of fresh graduates who have professional knowledge of motorcycles and master practical operation skills can be increased by 30% to 40%. The company is pushing forward the expansion project with an annual output of 500,000 motorcycles, and is in urgent need of a large number of R&D talents. (Jiemian News)

Epic surge in A-share market: over 100 stocks hit daily limit, tech sector rebounds sharply

36Kr learned that on November 4, the indices kept rallying in the afternoon, with the Sci-Tech Innovation 50 Index rising by over 10%, the ChiNext Index up by nearly 7%, the Shenzhen Component Index up by over 4%, the Shanghai Composite Index up by nearly 2%, and the Beijing Stock Exchange 50 Index up by over 4%. The total trading volume of the whole market reached 2.05 trillion yuan, with more than 4,600 individual stocks posting gains. In terms of sectors, the semiconductor sector saw a major breakout in the afternoon, with a number of stocks hitting the daily limit; communication equipment and precious metals surged, and most sectors including electronic components, computer hardware and biotechnology went up. The telecommunications sector led the declines, while sectors including oil & gas, Chinese Baijiu, coal, banking and insurance dropped.

"iPhone shows -30°C in many regions next Friday, Apple issues an apology"

In the early hours of November 4, a large number of Apple users found that the pre-installed Weather App presented "absurd" data. The temperature readings in many regions including Beijing, Shanghai, Xiamen and other places showed "abnormalities", with the lowest value displaying around -30°C, and related topics sparked widespread complaints. In response to this anomaly, Apple's official customer service stated that after preliminary troubleshooting, the root cause was a system port issue rather than a hardware failure, and the technical team has completed the emergency repair. As for users' speculation that "the data location jumped to other regions", the customer service denied it: if it were a location drift issue, the weather values for adjacent dates should all be abnormal, instead of an extreme value appearing only on a specific single day. In addition, the customer service stated that it had received a large number of user feedbacks, for which they expressed deep apologies, and will continue to improve the data service experience in the follow-up. At present, the temperature data for the relevant dates has returned to normal. (The Paper)

AI Frontier

OpenAI Executive Says ChatGPT's Search Volume Has Reached 20% of Google's

OpenAI's challenge to Google Search has now "yielded initial results." Adam Fry, Head of ChatGPT Consumer Products, confirmed that the volume of search-type queries on ChatGPT is approximately 20% of the query volume of Google Search. OpenAI added 200 million new users in the past two months, and the number of weekly active users has jumped to 1.2 billion. Users create 1.5 billion images using ChatGPT every week. In addition, the number of weekly active users of ChatGPT's voice mode has reached 250 million. (CLS)

Anthropic reportedly uses the Claude model to assist in the design of its self-developed chips

On November 3, it was reported that Anthropic has set up a 15-member chip design team and leveraged its in-house Claude model to carry out the engineering and design of custom chips. Anthropic disclosed relevant progress at a recent investor meeting. Engineers at the company found that Claude can reduce the time required for chip design compared with estimates from the traditional workflows of large design firms including NVIDIA and AMD. (Jiemian News)

20 entities including Huawei and Alibaba: Jointly build Agent interconnection infrastructure to accelerate the empowerment of thousands of industries by Agents

On November 4, 20 organizations including the China Academy of Information and Communications Technology, Huawei, Alibaba, Tencent, Xiaomi, Baidu, Volcano Engine jointly released the Self-Discipline Convention for Agent Development. It is stated in the convention that efforts will be made to construct Agent interconnection infrastructure. The parties will jointly build interconnected infrastructure, develop technologies and standards covering Agent registration and resolution, capability description and discovery, intent understanding and conversion, network routing and connection, resource scheduling and metering, protocol compatibility and mutual recognition. They will continuously reduce the cost of cross-domain discovery and connection of Agents to support the interconnection and collaboration of Agents, and accelerate the empowerment of all industries by Agents. They will adhere to serving the real economy, develop low-threshold Agent development and deployment tools, cooperatively develop Agents oriented to real operation scenarios that can create practical value, promote the embedding of Agents into existing production systems and business processes, and build benchmark applications. They will continuously reduce the implementation and application cost of Agents, and help industries improve quality and efficiency. (Securities Times)

Alphabet Pours 15 Billion US Dollars to Expand AI Data Centers in Malaysia

Google's parent company Alphabet stated that it plans to invest 15 billion US dollars to expand its AI data centers and traditional cloud computing-related businesses in Malaysia, highlighting that the unprecedented boom in artificial intelligence applications is driving accelerated growth in demand for AI computing power resources and digital infrastructure. It is known that Malaysia has become a major data center hub in Southeast Asia, attracting companies such as Oracle, Amazon, Alibaba Group and ByteDance. (CLS)

Big Companies / Major Events

Apple Intelligence Launches in Chinese Market, First Batch of Real-World Test Feedback: Battery Life and Stability Become Pain Points

In the early hours of November 4 Beijing time, the iOS 27.3 developer beta was rolled out, and the China-market Apple Intelligence kicked off its first domestic test. It accesses Tongyi Qianwen for complex tasks and is expected to be officially launched in December. This update is only available for iPhones for now, while iPads and Macs are not included temporarily. The China version does not have the new Siri for the time being, and it can call Tongyi Qianwen when exceeding the local model's capability, with a pop-up window to confirm permission before the call, and user data will not be used for model training. Basic functions such as in-device object removal, writing, and visual recognition are available in actual tests, but the interaction link is rather cumbersome. Many test users reported that this version has problems of overheating and degraded battery life, accompanied by bugs such as App crashes and input method lag; the Tongyi Qianwen interface is prone to timeout under weak network conditions, and long conversations tend to lose context. This function only supports models with A17 Pro and above chips, and users can upgrade by registering as a developer for free. The official reminds that it is not recommended to install it on your daily primary device. (Jiemian News)

China's micro short dramas have got an English name: Duanju

The popularity of Chinese micro short dramas going global keeps rising, ushering in a highlight moment of global development. Recently, a highly landmark change has taken place in the overseas industry circle: the Chinese pinyin "duanju" has become an exclusive English word, which specifically refers to micro short dramas. At present, the term "duanju" has been included in overseas encyclopedia websites. Looking at the data of the past two years (from November 2024 to the present), the page views of this entry have shown a sharp growth trend. In addition, entering "duanju" in the search engine will also pop up a large number of relevant results. (Sci-Tech Innovation Board Daily)

Guo Qing, Head of JD's Food Delivery Track, Has Resigned

On November 4, Yicai learned that Guo Qing, head of JD's local life business, has resigned for personal reasons. Guo Qing was formerly a member of Meituan's S-team. He joined JD as a group consultant in January 2024, and was appointed Chairman of the Board of Dada Group in August of the same year, taking charge of local life-related businesses such as JD food delivery and instant retail. JD food delivery was officially launched in early 2025. (Yicai)

Institution: The global average selling price of smartphones hits the highest single-quarter level in history

36Kr learned from the latest Market Monitor service of Counterpoint Research that despite a sharp 19% year-on-year decline in global smartphone shipments in the third quarter of 2026, the global smartphone revenue still increased by 3% year on year to reach 114 billion US dollars. The rise in Average Selling Price (ASP) underpinned market revenue and offset the impact of falling shipments. The high-end trend, optimized product mix, and storage-driven price increases across all price segments pushed the global ASP up 27% year on year to 442 US dollars, marking the highest single-quarter level in history.

Youzu Networks Plans to Purchase GPUs for 4.2 Billion Yuan

On the evening of November 3, Youzu Networks (002174.SZ), an A-share listed game company, released a contract announcement, stating that its wholly-owned subsidiary plans to purchase GPUs with a total amount of 4.225 billion yuan to promote the company's transformation and upgrading. It is understood that this procurement action is equivalent to about 3 times the company's revenue of last year, which has aroused wide market attention. At the opening of the market on the morning of November 4, the share price of Youzu Networks once surged by more than 4%, then the increase narrowed. As of 11 a.m., the increase shrank to 0.09%, quoted at 10.73 yuan per share, with a total market value of 10.52 billion yuan. Specifically, the announcement shows that Shanghai Youzu Information Technology Co., Ltd. (referred to as Youzu Information) recently signed the Sales Contract with Company A, under which Youzu Information will purchase GPU products of the model PRO5500 (PCIe) from Company A, with a total agreement amount of RMB 4.225 billion. (Yicai)

Global Photoresist Giant JSR May Change Ownership

According to reports from multiple media outlets, Mitsui Chemicals plans to acquire leading semiconductor materials manufacturer JSR from the Industrial Innovation Investment Institution (JIC) backed by the Japanese government, with the transaction value expected to exceed 1.3 trillion Japanese yen (equivalent to about 54.9 billion yuan). If the final transaction is completed, it will become the largest acquisition in the history of Japan's chemical industry. JSR is the world's second largest photoresist supplier, accounting for approximately 19% of the global market share calculated based on 2025 sales, right after Tokyo Ohka Kogyo (TOK) of Japan. Photoresist is a key material for transferring circuit patterns onto wafers, and also an indispensable consumable for chip manufacturing. (Cailian Press)

The largest single share repurchase in the history of the STAR Market is coming

On November 4, Changxin Technology released an announcement stating that the company recently received a proposal from its Chairman Zhu Yiming, who proposed to raise the repurchase amount from "no less than RMB 1 billion (inclusive) and no more than RMB 2 billion (inclusive)" to "no less than RMB 2.5 billion (inclusive) and no more than RMB 5 billion (inclusive)". On the evening of October 16, Changxin Technology released its Q3 2026 performance forecast, and the company's chairman proposed to launch its first share repurchase since its listing. The new repurchase plan launched by Changxin Technology this time will set the record of the highest single repurchase amount in the history of the STAR Market. (CLS)

Elon Musk Responds to the U.S. Midterm Elections

According to CCTV International News, U.S. entrepreneur Elon Musk spoke out on social media on November 4: "Guess the laser communication I used to try to interfere in the election didn't work this time." Existing filing records show that to help the U.S. Republican Party win the midterm elections, Elon Musk has donated 445 million U.S. dollars to the federal political committee, making him the largest individual donor in this midterm election. According to previous reports, at 1 a.m. Eastern Time on November 4, on-site voting for the U.S. midterm elections was basically completed, and each state will continue to count and announce the vote tally results. According to the data prediction from Decision Desk HQ, the Democratic Party will win 52 of the 100 seats in the Senate, regain control of the Senate, and is expected to retake control of the House of Representatives, thus regaining full control of the U.S. Congress. (CCTV News)

Trump's first public appearance after the midterm election defeat

According to CCTV News, on November 4 local time, Trump faced the media at the White House for the first time after his defeat in the midterm elections. He admitted that the election loss was largely caused by the conflict with Iran, but stated that he would still make the same decision even if he could start all over again, emphasizing that Iran must never be allowed to possess nuclear weapons. Trump claimed that he could have won if his name had been on the ballot, said he might get along well with the Democratic Party, and warned that if the Democratic Party launches an impeachment, it will backfire on itself. (Cailian Press, CCTV News)

BYD: The online rumors such as "God's Eye C has been discontinued" are untrue

On November 4, BYD's News Anti-Fraud Office released a statement to refute rumors, pointing out that the online spread claims that God's Eye C has been discontinued and that the intelligent driving solutions of God's Eye B/C have been replaced are all untrue information. BYD stated that it adheres to full-stack self-development, the God's Eye intelligent driving software keeps iterating and upgrading, has preserved the evidence of relevant false remarks, and will pursue legal responsibilities in accordance with the law. (Cailian Press)

DRAM Prices Hit Another New Record High

In October this year, the global average contract price of DRAM once again refreshed the all-time high, while the average price of NAND flash memory maintained the highest level of the previous month. Industry institutions predict that in the fourth quarter of this year, DRAM prices are expected to rise month-on-month. For NAND flash memory, the price trends of MLC flash and SLC flash will diverge. (Financial Associated Press)

Greenland Holding Group and Other Parties Are Subject to Enforcement of 810 Million Yuan

36Kr has learned that according to the Tianyancha App, on November 2, Greenland Holding Group Co., Ltd. and other relevant entities added 1 new entry of person subject to enforcement, with the enforcement target totaling over 810 million RMB, and the enforcing court is the Nanjing Intermediate People's Court of Jiangsu Province. Founded in July 1992, the company has Zhang Yuliang as its legal representative, with a registered capital of approximately 22.65 billion RMB. Its business scope includes industrial investment, landscaping, warehousing, real estate, taxi services, daily consumer goods, textiles, property management, chemical products, building materials, hardware and electrical appliances, and construction operations. It is jointly held by Greenland Holding Group Co., Ltd. and Greenland Fintech Innovation Technology Group Co., Ltd.

China's gold output in the first three quarters of 2026 dropped by nearly 20% year on year

36Kr learned that according to the latest statistical data from the China Gold Association, in the first three quarters of 2026, the cumulative gold production from domestic raw materials reached 220.935 tons, a year-on-year decrease of 50.847 tons, representing a 18.71% year-on-year decline; the cumulative gold production from imported raw materials reached 127.055 tons, a year-on-year increase of 5.906 tons, representing a 4.87% year-on-year growth. The total gold output produced by domestic and imported raw materials amounted to 347.990 tons, a year-on-year decrease of 44.941 tons, marking an 11.44% year-on-year decline.

Hong Kong's ICAC Charges Former HKEX Vice President

On November 4, the Independent Commission Against Corruption (ICAC) of Hong Kong laid charges against Tong Po-hang, former Vice President of Hong Kong Exchanges and Clearing (HKEX), and his mother Leung Yiu-chun. The two are accused of the offense of accessing a computer for dishonest gain. The charge alleges that between 2018 and 2023, Tong Po-hang repeatedly accessed confidential information of listed companies irrelevant to his job responsibilities, and his mother's account subsequently traded relevant stocks and reaped profits of over HK$500,000. The case was brought up for hearing at the Eastern Magistrates' Courts on the same day. The investigation was referred by the Securities and Futures Commission (SFC). The ICAC stated that the investigation is still in progress, and additional prosecutions are not ruled out. (CLS)

Weilong sees leadership reshuffle, post-1990s generation Yu Feng takes the position of CEO

On the evening of November 3, Weilong (09985.HK) released a personnel announcement. Liu Fuping, co-founder, resigned from the post of CEO and will continue to serve as co-vice chairman. Former CFO Yu Feng succeeded as CEO and concurrently holds the post of co-vice chairman. Chen Yang, who has a professional background at Nestlé and Hsu Fu Chi, was appointed as the new CFO, and the appointment took effect on the same day. 35-year-old Yu Feng is a relative of the founding family, has worked at Weilong for 15 years and grown through experience in multiple posts. In recent years, Weilong has kept adjusting its product structure, with vegetable products such as spicy konjac snacks becoming the main growth driver to hedge the decline of the spicy gluten strip category. Meanwhile, it has made arrangements for overseas markets, and this personnel adjustment will serve the product iteration and overseas expansion strategy. (Jiemian News)

Meta Launches Its First Euro Bond Issuance

On November 4, according to reports, after issuing 15 billion U.S. dollars of dollar-denominated bonds on Tuesday, Meta has launched the bookbuilding process for its first euro bond issuance. According to a person familiar with the matter, the company's euro bond issue is divided into six tranches, with maturities ranging from slightly more than 4 years to over 38 years. People familiar with the matter said that the initial pricing of the shortest-maturity tranche is about 140 basis points higher than the mid-swap rate, while that of the longer-maturity tranches is about 370 basis points higher. The report says that Citigroup and Morgan Stanley are in charge of managing this euro bond transaction, and the pricing is expected to be conducted later on Wednesday. (Jiemian News)

Demingli: Plans to distribute RMB 6 in cash for every 10 shares with a total cash distribution of RMB 191 million, and the controlling shareholder promises to extend the period of not reducing holdings of the company's shares for one year

36Kr has learned from the announcement of Demingli that the company's board of directors has reviewed and passed the second interim profit distribution plan for 2026. Based on the total share capital of 318 million shares, the company plans to distribute a cash dividend of RMB 6 for every 10 shares to all shareholders, with a total cash distribution of RMB 191 million. No bonus shares will be issued, and no capital reserve will be converted into share capital. This proposal will be submitted to the extraordinary general meeting of shareholders to be held on November 20 for deliberation. Li Hu, the controlling shareholder and chairman of the company, promises to extend the period of no reduction in holdings of the company's shares by one year, that is, within 24 months from July 27, 2026, he will not reduce his holdings of the company's shares in any form. As of the disclosure date of the announcement, Li Hu holds 111 million shares of the company, accounting for 35.01% of the total share capital.

Does ByteDance Restrict Employees From Using External AI? Insiders Respond

ByteDance has rolled out new regulations, banning personal accounts of external AI tools including Claude and Codex from accessing internal sensitive resources such as L4-level code repositories and Feishu documents starting from this month. Insiders noted that employees using external AI to process public work information or for personal life scenarios are not covered by the restrictions. (Beijing Business Today)

Qatar is about to become the world's largest buyer of U.S. liquefied natural gas

Qatar's state-owned energy enterprise is expected to become the world's largest purchaser of U.S. liquefied natural gas (LNG) in the early 2030s. Affected by the ongoing conflicts in the Middle East, the Gulf country has faced restricted exports, so it has started to look for new gas sources. QatarEnergy signed two agreements in late October, which will add 7 million tons of U.S. LNG per year to supply its overseas customers for resale. (Sina Finance)

Apple, Microsoft, Google and Amazon saw their combined market value surge by over 1 trillion US dollars in a single trading day, with popular Chinese concept stocks generally rallying

36Kr learned that as of the close of trading on November 4, the three major U.S. stock indices all rose collectively: the Nasdaq rose 1.44%, the Dow Jones Industrial Average rose 3.03%, and the S&P 500 Index rose 1.58%. Most large-cap tech stocks moved higher: Apple climbed 5.87%, adding around 281.6 billion US dollars in market value in a single day; Microsoft rose 6.24%, adding about 239.7 billion US dollars; Google Class A shares went up 4.09%, adding roughly 279 billion US dollars; Amazon jumped 7.79%, adding approximately 209.5 billion US dollars. The four companies recorded a total market value increase of around 1.01 trillion US dollars. Popular Chinese concept stocks posted widespread gains: Bilibili rose more than 5%, Alibaba, Tencent Music, Baidu and NetEase rose over 4%, NIO, Li Auto and JD.com rose more than 3%, Pinduoduo rose over 2%, and XPeng Inc. rose more than 1%. (36Kr, 21st Century Business Herald)

Layoffs at BMW Brilliance Affect Three Factories in Shenyang

On November 4, Jiemian News learned from a number of employees that BMW Brilliance has launched personnel adjustments at its three Shenyang factories, namely Dadong, Tiexi and Powertrain. The adjustments mainly cover production positions and also include some technical positions. The estimated number of layoffs is about 1,800 to 2,000, with a compensation package of N+5. Many production lines have been adjusted from two shifts to a single shift, and some fixed-term contracts will not be renewed upon expiration. This round of adjustments comes against the backdrop of mounting sales pressure for BMW in the Chinese market: its deliveries in China in the third quarter dropped by more than 20% year-on-year, and the group lowered its profit margin guidance. BMW has not yet responded to inquiries related to the layoffs, and it remains uncertain whether this adjustment is part of its global restructuring plan. (Jiemian News)

Wang Xingxing: Next year will be the critical point for the robotics industry

At the Internet Entrepreneurs Forum of the 2026 World Internet Conference Wuzhen Summit, Wang Xingxing, founder of Unitree Robotics, stated that next year will most likely be the critical point for the robotics industry or robot models. He proposed that the most core resources in the future world include data, computing power, chip production capacity, energy and minerals. (CLS, Chinanews.com)

More than 800,000 vehicles are recalled. The State Administration for Market Regulation has released multiple recall announcements, involving many brands including Audi, Toyota, Volkswagen, Lexus, MINI, Lotus, Jeep and other brands

The State Administration for Market Regulation has issued a number of vehicle recall announcements, with a total of over 800,000 vehicles recalled, covering brands such as Audi, Toyota, Volkswagen, Lexus, MINI, Lotus, Jeep, etc. The hidden risks include steering gear bolt corrosion, steering assist failure, fuel pipe leakage, brake program defects, poor adhesion of rearview mirror brackets and other issues. Automakers will provide free maintenance, parts replacement or software upgrade services for the involved vehicles to eliminate risks. (CLS)

Investment and Financing

"Lingchuan Technology" Completes 1 Billion Yuan Series B Financing

36Kr has learned that Lingchuan Technology, an artificial intelligence chip company, has recently completed a 1 billion yuan Series B financing. The funds raised in this round will be mainly used for the R&D and mass production of next-generation chips and global market expansion. This round of financing is jointly led by Yizhuang State Investment Yitang Shenghe Fund, Qiming Venture Partners and Zhaohui Capital. Well-known investment institutions Cathay Haitong Kaiyuan, Huakong Investment, China Life Yangtze River Delta Science and Technology Innovation Fund, Beigong Investment, CCB Trust (Beijing) Investment, Peikun Capital, Hong Kong Science Park Venture Capital Fund, CDH Baifu, Jin Duo Investment, Xiamen Hengxing, Mingshi Capital, as well as industrial investors Shixi Capital, Loongson Venture Capital, Anhui Cultural Tourism Investment participated in the investment. Old shareholders Shunxi Fund, Shuimu Investment Group and Jiuzhi Capital continued to increase their capital contribution.

"Active Technology" Completes RMB 464 Million Angel+ Round Financing

36Kr learned that "Active Technology" recently announced the completion of its RMB 464 million Angel+ round of financing. This round is jointly led by Gaorong Ventures, SDIC Pioneer and Shanghai Sci-Tech Venture Capital, with follow-on investments from Kangjun Capital, China Internet Investment Fund, Guotai Haitong, Pudong Venture Capital, Shanghai Sci-Tech Innovation Fund, Guangzhou Pharmaceutical Capital, Minjin Investment and Yunqi Capital. Existing shareholders Detong Capital, BGI Songhe and Inno Capital continued to increase their investments. The financing of this round will provide financial support for the company to continuously promote the R&D, clinical transformation and industrial construction of invasive brain-computer interfaces, and create conditions for further expansion of industrial cooperation.

Large Company Financial Reports

SK Telecom swings to profit in the third quarter, with net profit reaching 411.8 billion won

On November 4, South Korean telecom operator SK Telecom released its third-quarter financial report, recording a consolidated net profit of 411.8 billion won, compared with a loss of 166.7 billion won in the same period of last year, which is higher than the market expectation of 346.3 billion won. Revenue increased by 13.1% year-on-year to 4.4973 trillion won, and operating profit rose sharply by 1040.3% year-on-year to 552.3 billion won, both exceeding market expectations. The company stated that the resumed revenue growth of wireless and fixed-line telecom businesses has driven the improvement of overall profitability. (Sina Finance)

Qualcomm Reports FY2026 Revenue of $43.1 Billion, Down 3% Year-over-Year

On November 4 local time, Qualcomm released its financial results for the fourth quarter and the full fiscal year 2026. Revenue in the fourth quarter reached $10.322 billion, down 8% year over year; net profit was $1.251 billion, compared with a net loss of $3.117 billion in the same period of the previous year. Full-year revenue hit $43.12 billion, down 3% year over year; net profit stood at $13.628 billion, up 146% year over year, mainly driven by a $5.7 billion income tax benefit. On a non-GAAP basis, full-year revenue was $43.24 billion, down 2% year over year; net profit came in at $11.311 billion, down 15% year over year. In terms of business segments, full-year automotive business revenue reached $6.004 billion, up 52% year over year; Internet of Things revenue grew by 8%. Qualcomm expects non-handset business revenue to grow by more than 60% in fiscal year 2027, and reaffirmed its data center business revenue target of $5 billion. (Jiemian News)

BMW Group's third-quarter revenue reached 30.452 billion euros, down 5.8% year on year

On November 4, BMW Group released its financial report, showing that the automobile deliveries in the third quarter stood at 551,075 units, down 6.3% year on year; motorcycle deliveries reached 46,605 units, down 12.5% year on year. The third-quarter revenue was 30.452 billion euros, down 5.8% year on year; earnings before interest and tax (EBIT) hit 1.589 billion euros, down 29.7% year on year. (Jiemian News)

McDonald's same-store sales in the third quarter rose 1.5% year-on-year, beating market expectations

On November 4, McDonald's released its third-quarter earnings report. The company's same-store sales in the third quarter increased by 1.5% year-on-year, while the previous market estimate was 1.35%. The revenue in the third quarter was 7.16 billion US dollars, compared with the estimated 7.29 billion US dollars. The adjusted earnings per share was 3.57 US dollars, versus the estimated 3.40 US dollars. (Jiemian News)

Luckin releases Q3 financial report, saving 1.1 billion yuan in delivery fees in the third quarter

On the evening of November 3, Luckin Coffee released its Q3 financial report. Its total net revenue in the single quarter reached 17.9 billion yuan, representing a year-on-year increase of 17%. The non-GAAP net profit stood at 2.14 billion yuan, up 50.9% year on year, hitting a new record high for a single quarter. The takeaway delivery fee in the third quarter was 1.79 billion yuan, 1.1 billion yuan less than that in the same period of last year, and its proportion in revenue dropped from 18.9% to 10%, which is mainly attributed to the change of order structure: the proportion of takeaway orders declined while the number of in-store pickup orders increased. The profit margin of self-operated stores improved to 23.3%, up 5.8 percentage points year on year. Affected by the high base brought by the takeaway war last year, the same-store sales growth of self-operated stores was -11.1% year on year. However, the company said that the improving trend continued in the quarter, and the improvement would further accelerate in the fourth quarter. In this quarter, Luckin added 2,599 net new stores, and the total number of stores exceeded 38,900. At the same time, it added 3.25 billion yuan of new short-term bank loans and launched a US$500 million share repurchase plan. (Yicai)

Edited by | Li Qi