Startups

17:32

                            Geely Holding: Li Donghui, An Conghui and other management positions adjusted
                        
                            At the first quarter performance meeting of Geely Auto, Geely Holding Group announced that after the completion of the transaction of Geely Auto's acquisition of Zeekr Technology, Li Donghui will serve as the vice chairman of Geely Holding Group, responsible for the daily work management of the board of directors and the group's investment and financing management, and play an important role in capital operation, major foreign cooperation projects, etc.; An Conghui will serve as the CEO of Geely Holding Group, fully responsible for the operation and management of Geely Holding Group (before the completion of the merger, An Conghui still serves as the CEO of Zeekr Technology Group); Gui Shengyue still serves as the chief executive officer (CEO) and executive director of Geely Auto; Gan Jiayue will serve as the CEO of the merged Geely Auto Group, and Geely Auto Group will have Geely Galaxy Business Group and Zeekr Technology Business Group (Gan Jiayue still serves as the executive director of Geely Auto). In addition, in order to cultivate young and compound senior management talents, Dai Qing was appointed as the rotating president of Geely Holding Group in March this year, reporting to the CEO of Geely Holding Group. On May 7, Geely Auto announced that it plans to acquire all the issued shares of Zeekr Technology. If the transaction is completed, Zeekr will be fully merged with Geely Auto.
                        
15:36

                            Seven departments: Expand the scope of the AIC equity investment pilot to the provinces where 18 cities are located, and support insurance funds to participate in the equity investment pilot of financial asset investment companies
                        
                            The Ministry of Science and Technology and seven other departments issued the "Several Policy Measures to Accelerate the Construction of a Science and Technology Financial System to Support High-level Scientific and Technological Self-reliance and Self-improvement", which pointed out that the sources of venture capital funds should be broadened. The scope of the pilot program for equity investment in financial asset investment companies (AICs) will be expanded to provinces where 18 cities are located, and insurance funds will be supported to participate in the pilot program for equity investment in financial asset investment companies. Venture capital institutions and industrial investment institutions will be supported to issue bonds for financing, and direct financing channels will be broadened. Social security funds are encouraged to carry out equity fund investment within their own business scope and risk prevention and control requirements to support technological innovation. The management mechanism should be optimized, insurance funds should be supported to participate in venture capital according to market principles, and the pilot program for long-term investment reform of insurance funds should be promoted. Financial management companies, trust companies, etc. should be guided to participate in venture capital in accordance with laws and regulations.
                        
08:10

                            SoftBank Group's shares halted due to heavy buy orders
                        
                            SoftBank Group Corp.'s shares were suspended from trading due to a flood of buy orders after it reported better-than-expected earnings.
                        
08:08

                            Market news: SoftBank Group's shares were suspended due to a large influx of buy orders.
                        
16:05

                            SoftBank Group Chief Financial Officer: The Stargate project has found more than 100 sites across the United States and we are conducting due diligence.
                        
14:45

                            Market news: SoftBank Group's Vision Fund suffered a full-year loss of 115.02 billion yen in 2024.
                        
14:44

                            SoftBank Group Vision Fund loses 115.02 billion yen in 2024
                        
                            SoftBank Group's Vision Fund suffered a full-year loss of 115.02 billion yen in 2024.
                        
12:03

                            May 13th noon announcement list: Haowu shares subsidiary terminates guarantee for its subsidiaries
                        
                            Haowu shares announced that its wholly-owned subsidiary Neijiang Pengxiang Investment Co., Ltd. ("Neijiang Pengxiang") provided a joint and several guarantee for the RMB 25 million financing amount applied by its subsidiary Tianjin HSBC Auto Sales and Service Co., Ltd. ("Tianjin HSBC") to Toyota Motor Finance (China) Co., Ltd. ("Toyota Finance"), and signed the "Guarantee and Indemnity" with Toyota Finance on December 11, 2020. In view of the fact that Tianjin HSBC has fully paid the financing funds to Toyota Finance, and Neijiang Pengxiang issued a "Confirmation Letter on the Company's Intended Termination of Guarantee for Subsidiaries" to Toyota Finance on April 23, 2025, Toyota Finance replied to confirm that Tianjin HSBC has paid off all financing funds and agreed that Neijiang Pengxiang would terminate its guarantee liability.
                        
07:06

                            Joint-stock banks join the "Golden Key" camp. How does AIC reshape the bank's profit DNA?
                        
                            After many years, the team of financial asset investment companies (AICs) finally welcomed new faces. Recently, Industrial Bank, China Merchants Bank, and CITIC Bank respectively announced that they plan to invest tens of billions of yuan to establish AICs to increase support for scientific and technological enterprises and private enterprises. For enterprises, the support of bank-affiliated investment institutions not only means that they can obtain funds at a lower cost, but also help them improve market recognition. The reporter learned from various surveys that more and more banks entering the AIC can promote the diversified development of my country's investment and financing system, alleviate the problem of corporate financing difficulties, and promote the transformation of banks from traditional capital intermediaries to comprehensive financial service providers. Industry insiders said that the layout of banks on the investment side has always been relatively limited. The expansion of the AIC license is expected to allow more joint-stock banks with flexible mechanisms and high-quality regional banks to have the opportunity to participate in the future, forming a "national + regional" industry pattern. "Obtaining an AIC license is equivalent to obtaining a golden key. It can help banks enhance their profitability resilience. In addition to the income brought by direct investment, it can also help banks leverage other businesses besides financing." A person from a joint-stock bank told reporters that in the context of pressure on net interest margins, the establishment of a new AIC is a win-win situation for technology companies and banks.
                        
16:31

                            Kimi cooperates with Xiaohongshu to upgrade AI technology
                        
                            Following the previous grayscale testing of content community products, Kimi (Dark Side of the Moon) has made new moves. Today, Kimi officially announced the latest cooperation with Xiaohongshu. Open the official account of Kimi's smart assistant Xiaohongshu, click Kimi ai to directly jump to Kimi's conversation, and users can generate notes with one click by selecting the conversation content. From the first "marriage" between Xiaohongshu and Kimi. As early as 2024, Xiaohongshu was involved in the $1 billion Series A financing of Kimi's parent company, Dark Side of the Moon. In December last year, Kimi and Xiaohongshu jointly launched the "AI Novice Village" document, which is a marketing activity jointly launched by AI bloggers. Moving the entrance of its own products to Xiaohongshu is not only a reflection of Kimi's continued external pursuit of traffic, but also an attempt by Xiaohongshu to use AI to improve product experience and optimize the business ecosystem.
                        
17:20

                            Tik Tok veteran Chen Lin quits to start his own business? Insider: False news
                        
                            It is reported that Chen Lin, former senior vice president and former head of education business of ByteDance, has resigned to start his own business. He co-founded "Galaxy Intelligence" with Wang Zhuo, a former executive of iFlytek, and registered the "Xiaolu Loves Learning" trademark. It is expected to launch AI education products for schools in August. In this regard, people familiar with ByteDance said that Chen Lin's resignation is false information. Public information shows that Chen Lin joined ByteDance in 2012 and served as the product manager of many core products. At the end of 2018, Chen Lin became the CEO of Toutiao; two years later, he was appointed CEO of Dali Education.
                        
11:01

                            Science and Technology Innovation AIETF (588790) fell more than 3%
                        
                            The Science and Technology Innovation AI ETF (588790) fell by more than 3%, falling for three consecutive days, with a turnover of 147 million yuan, an increase of 26.63% from this time yesterday. There was a net inflow of financing in the past three days, with a net inflow of 10.3198 million yuan. The number of shares increased by 36 million in the past month.
                        
20:15

                            Softbank: Planned additional capital raising no more than 3.378 billion yuan
                        
                            Neusoft announced that it plans to raise no more than 3.378 billion yuan through a private placement to be used for the Beijing-Tianjin-Hebei Softcom Innovation and Manufacturing Base Project, the AIPC Intelligent Manufacturing Base Project, the Neusoft Huailai Intelligent Computing Center (Phase I) construction project, and the computer production workshop intelligent upgrade technology transformation project.
                        
19:04

                            Industrial Bank was the first to be approved to establish an AIC, and joint-stock banks broke the market pattern
                        
                            According to the 21st Century Business Herald, on May 7, Industrial Bank became the first joint-stock bank approved to set up a financial asset investment company, breaking the AIC market pattern dominated by the five major state-owned banks since 2017. This marks a substantial expansion in the field of financial asset investment. The State Financial Supervision and Administration Bureau has approved Industrial Bank to set up the Industrial Bank AIC and requires it to complete the preparatory work within 6 months. Industry insiders revealed that in the future, more joint-stock commercial banks' financial asset investment companies will be approved, further promoting financial services to the real economy.
                        
17:22

                            Joint-stock bank AIC was established, and Xingyin Financial Asset Investment Company was approved for establishment
                        
                            The joint-stock bank financial asset investment company (AIC) is here. On May 7, the Financial Supervision Administration approved and agreed that Industrial Bank should prepare for the establishment of Xingyin Financial Asset Investment Co., Ltd. (tentative name). The approval mentioned that Industrial Bank should strictly follow the relevant laws and regulations to handle the preparatory work and complete the preparatory work within 6 months from the date of approval. The preparatory work is subject to the supervision and guidance of the State Financial Supervision and Administration Bureau. No financial business activities shall be engaged during the preparatory period. After the preparatory work is completed, an application for opening should be submitted to the State Financial Supervision and Administration Bureau in accordance with relevant regulations and procedures. Prior to this, there were 5 AICs, namely ICBC Investment, ABC Investment, BOC Asset Management, CCB Investment, and BoCom Investment, which were initiated and established by the five major state-owned banks of ICBC, ABC, CCB, and BOCOM, and all were established in 2017.
                        
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