Startups

14:19

                            Perplexity CEO says Kimi K2 may be used for post-training
                        
                            Aravind Srinivas, CEO of US AI search startup Perplexity, said on social media that based on the good performance of the Kimi K2 model, the company may use K2 for post-training in the future. DeepSeek R1 was also used by Perplexity for model training. K2 is a trillion-parameter open source model recently released by Kimi, which emphasizes code capabilities and general agent task capabilities.
                        
14:19

                            "The gongs of the Hong Kong Stock Exchange are not enough" For the first time in history! 5 companies were listed in Hong Kong on the same day
                        
                            According to the Daily Economic News, on July 9, the Hong Kong Stock Exchange welcomed its most crowded day of the year. Five companies, including Lens Technology, Geek+ W, Peak Technology, Volkswagen Oral Care, and Xunzhong Communications, were listed on the Hong Kong stock market. In addition, an ETF was listed. Six gongs were struck at the same time, and the Financial Hall was almost full. Six gongs were lined up at the same time, filling the podium. This was the first time in the history of the Hong Kong Stock Exchange. According to the reporter, the gongs that were originally exhibited in various districts of Hong Kong were pulled back and placed on the scene. The reporter found that the net proceeds from the global offering of the five companies totaled HK$9.821 billion. Lens Technology raised the most funds, and Volkswagen Oral Care raised the least.
                        
18:49

                            CMB AIC approved, new team may come from CMB International and head office departments
                        
                            It took two months from official announcement to approval, and China Merchants Bank AIC was officially named. On the evening of July 3, China Merchants Bank announced that it was approved to set up China Merchants Financial Asset Investment Co., Ltd. (hereinafter referred to as China Merchants AIC). After the preparatory work is completed, it will apply to the regulatory authorities for opening in accordance with relevant regulations and procedures. Reporters learned that China Merchants Bank will draw some personnel from the bank to form a new team for China Merchants AIC, mainly from its subsidiary China Merchants International. At the same time, several head office departments such as the Asset and Liability Department, Strategic Customer Department, and Investment Banking Department will also participate in the preparation. China Merchants Bank stated in the announcement that the establishment of AIC will help carry out market-oriented debt-to-equity swaps and equity investment pilot businesses. With the recent approval of the establishment of Industrial Bank, CITIC Bank, and China Merchants Bank AIC, the bank AIC has officially expanded to 8. Analysts pointed out that AIC is conducive to reaching more customers and improving the profitability of banks, but it will also bring multiple challenges such as capital consumption and risk control.
                        
21:54

                            Shanghai state-owned assets invested 1 billion yuan in Zhipu to jointly build a closed loop of computing power, electricity, and large models
                        
                            Zhipu, one of the "Six Little Tigers of AI Big Models", has received a strategic investment from Shanghai state-owned assets. At the Zhipu Open Platform Industry Ecosystem Conference held on July 2, Pudong Venture Capital Group and Zhangjiang Group announced that they would make a strategic investment of 1 billion yuan in Zhipu and complete the first transaction in the near future. Both Pudong Venture Capital Group and Zhangjiang Group are affiliated to the State-owned Assets Supervision and Administration Commission of Pudong New Area, Shanghai. According to incomplete statistics, Zhipu has completed more than ten rounds of financing, with a cumulative financing scale of more than 10 billion yuan. Investment institutions include Hillhouse Capital, Qiming Venture Partners, Legend Capital, etc.
                        
12:16

                            SoftBank: Will issue bonds with a face value of US$500 million and a maturity date of 2030, with a coupon rate of 4.699%.
                        
15:01

                            A-share closing review: Shanghai Composite Index fell 0.7% after rising, banking sector adjusted collectively, and stocks with the Chinese character "Ma" rose in the afternoon
                        
                            The three major A-share indices rose and fell today. As of the close, the Shanghai Composite Index fell 0.7%, the Shenzhen Component Index rose 0.34%, the ChiNext Index rose 0.47%, and the Beijing Stock Exchange 50 Index rose 1.06%. The total market turnover was 1,575.6 billion yuan, a decrease of 47.5 billion yuan from the previous day. More than 3,300 stocks rose in the entire market. In terms of sector themes, non-ferrous metals, AI hardware, diversified finance, and smart medical sectors led the gains; banks, oil and gas exploration, cross-border payments, and tourism and hotel sectors led the declines. On the market, the non-ferrous metal sector collectively strengthened, and Jinhui Co., Ltd. and Northern Copper Co., Ltd. rose to the daily limit. CPO and copper cable high-speed connection concept stocks fluctuated and strengthened, and Chuangyitong, Xinya Electronics, Huatian Technology and other stocks rose to the daily limit. In the afternoon, many stocks with the word "Ma" rose to the daily limit, Yuma Technology and Yunzhongma both rose to the daily limit, and Tianma New Materials and Wanlima rose by more than 10%. The banking sector collectively adjusted today, with Qingdao Bank, Hangzhou Bank, and Chongqing Bank falling by more than 4%. Oil and gas stocks adjusted again, with Zhunyou shares hitting the limit down in the afternoon, and Tongyuan Petroleum, Beacon Energy, and Shouhua Gas leading the decline. Digital currency and cross-border payment sectors fell simultaneously in the afternoon, with Small Commodity City hitting the limit down, followed by Jida Zhengyuan, Uboxun, and Xin'an Century.
                        
09:37

                            SoftBank CEO Masayoshi Son: We hope to become the world's number one artificial super intelligence platform provider within ten years.
                        
03:22

                            Pony.ai once rose by more than 20% during the session
                        
                            UBER is reportedly seeking financing to acquire Pony.ai's US business.
                        
11:21

                            S&P Global Ratings: Confirms SoftBank Group's rating as "BB+" with a stable outlook.
                        
11:39

                            AI startup Anthropic: Will form a dedicated team to serve our growing Japanese customer base.
                        
18:44

                            UK plans to invest 500 million pounds in four years to develop quantum computing
                        
                            The British government announced on the 23rd that it will invest more than 500 million pounds (about 680 million U.S. dollars) in quantum computing and related technologies over the next four years in order to enhance its independent capabilities in global competition. A few weeks ago, the quantum businesses of British startups Oxford Ions and Oxford Instruments were acquired by American companies. The related transactions have caused concerns in the British society about whether the UK has the ability to control its own strategic technological assets.
                        
13:34

                            A-share AI medical concept stocks fluctuated higher, with Celly Medical hitting the daily limit, and Chuangye Huikang, Dian Diagnostics, Sichuang Medical, Guoxin Health, and Jiuyuan Yinhai all rising.
                        
10:02

                            Last year, the total amount of data resources of 100 A-share listed companies included in the table was 2.164 billion
                        
                            The China Enterprise Data Value Summit Forum, co-organized by the Shanghai Data Exchange and the Shanghai Advanced Institute of Finance (SAIF) of Shanghai Jiao Tong University, was held in Shanghai on the afternoon of June 20. At the meeting, the "China Enterprise Data Asset Inclusion Tracking Report" was released, systematically combing the data asset inclusion and value realization ecosystem. The report stated that according to the 2024 annual report disclosed by listed companies, 100 A-share listed companies disclosed matters related to the inclusion of data resources in the table, involving a total amount of 2.164 billion yuan. As for non-listed companies, according to incomplete statistics from the research team, as of March 31, 2025, 330 non-listed companies in China have disclosed the inclusion of data resources in the table, including 275 local state-owned enterprises, 45 private enterprises, 8 central enterprises, and 2 public institutions, and have obtained financing of 1.417 billion yuan.
                        
09:34

                            Luo Yonghao: I spent a year developing an AI software and hardware solution, but the software turned out to be an engineering disaster
                        
                            At AGI Playground 2025, Luo Yonghao appeared as a technology entrepreneur and revealed that his new company, Thin Red Line, spent more than a year and burned a lot of money to prove that AR glasses are unlikely to be commercialized within ten years and are very expensive. Luo Yonghao further revealed that Thin Red Line spent more than a year on the AI hardware and software combination solution, but the hardware did not have any problems. In the last era, the software never had any problems, but the hardware always had problems. This time, the hardware did not have any problems, but the software had an engineering disaster. "We originally planned to release the hardware and software combination solution at the end of last year and the beginning of this year, but because the software had an overall engineering disaster, it was not released." Luo Yonghao said that the new company's pure software (solution) may be launched within two or three months, so he came out to show off again, just to prepare for the launch. "
                        
17:16

                            Hong Kong may issue new regulations restricting number of Uber drivers and cars
                        
                            Hong Kong will issue new regulations restricting the number of Uber drivers and vehicles, according to Bloomberg.
                        
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