SK Hynix filed for US IPO on Nasdaq with Goldman Sachs, Citi, JPMorgan, and BofA as underwriters.

SK Hynix has submitted an application for a US initial public offering, planning to list on the Nasdaq. Fubon Securities, Citigroup, Goldman Sachs, and JPMorgan Chase are serving as underwriters for the IPO. (Cailian Press)

On June 24, Elon Musk's net worth fell below the one-trillion-dollar mark. According to Bloomberg Billionaires Index data, Musk's net worth has dropped to $957 billion, a significant decline of $340 billion from its peak of $1.3 trillion eight days earlier. Nevertheless, Musk's wealth remains far ahead on the global wealth rankings. Humanity's first trillionaire, having held the title for less than two weeks, has now "fallen from grace." (Daily Economic News)

Multiple sources confirm that as of June 23, securities firms have begun suspending new incremental volumes of equity-linked cross-border total return swaps (TRS) in accordance with regulatory requirements. Existing positions may proceed normally to maturity or settlement without forced liquidation. Currently, only equity-linked cross-border TRS is affected; futures-linked, municipal-bond-linked, and certain FICC and northbound-related business remain unimpacted. This business has been under net-new restrictions since early 2024, and brokerages are still awaiting detailed guidance on specific implementation standards for the new suspension. Industry professionals in derivatives note that based on current regulatory guidance, the measure is closer to ceasing new position opening for equity-linked cross-border TRS, with gradual pressure reduction as existing contracts mature. The channel fee for equity-linked cross-border TRS currently ranges from 1-2%, making it one of brokerages' high-revenue business lines. (Cailian Press)

Douban launched its professional version on June 24. The Douban office task mode has integrated the executable agent-capable Doubao 2.1 series models. This mode supports operating local computers, using browsers, invoking Skills, and scheduling tasks, features built-in Office software, and supports professional image and video design and website generation and sharing. The professional version employs a three-tier pricing structure: (1) Standard Plan: 68 yuan/month continuous subscription, includes all free-version benefits, accesses the 2.1 Pro model, and offers office tasks and expert mode at over five times free-version capacity; (2) Enhanced Plan: 200 yuan/month continuous subscription, offering four times the standard plan capacity; (3) Premium Plan: 500 yuan/month continuous subscription, offering ten times the standard plan capacity.

Multiple sources report that the Trump administration is pressuring Meta to voluntarily submit its artificial intelligence models for government review to assess their performance and vulnerabilities. Sources indicate this requirement was made in an email from the Trump administration to the social media giant. Meta launched its Muse Spark AI model in April this year, but it remains the only major US AI technology developer that has yet to reach an agreement with the federal government to voluntarily share its models for review. (Sina Finance)

On June 23, Jingmeng AI's web-based Seedance 2.0 VIP officially launched native 4K output capability. Unlike post-production upscaling, native 4K preserves greater detail from the source. High-density information such as human hair strands, fabric textures, architectural lines, and material surfaces can be presented more completely and clearly, further enhancing image detail, color gradation, and lighting effects, suited for film post-production, brand visual identity, advertising and marketing, and other high-quality creative applications.

Alibaba's Qwen large language model officially released Qwen-AgentWorld, the first native language world model (LWM). A single model simultaneously covers text-based environments (MCP, Search, Terminal, SWE) and GUI-based environments (Web, OS, Android), enabling cross-domain knowledge transfer. Simultaneously released is AgentWorldBench, a language world model evaluation benchmark covering seven domains, with each test sample equipped with real environment observation data obtained from actual environment execution.

On June 24, SoftBank Group Chairman Masayoshi Son, speaking at a shareholders' meeting regarding his subsidiary SoftBank's plan to invest in Tokyo Electric Power Holdings (TEPCO), stated: "Among several companies, we currently remain as an important candidate company." Son noted that if this investment succeeds, "SoftBank should build AI data centers in Japan." (Jie Jie News)

On June 24, Zhenbao Technology listed on the STAR Market, with the stock at one point rising over 900%, reaching a high of 465 yuan per share. The stock's IPO price was 44.56 yuan; at the highest price, a single lot would have generated over 200,000 yuan in profit. As of publication, Zhenbao (N Zhenbao) had risen 811.89%, trading at 406.34 yuan per share.

According to the prospectus, the company is among China's few enterprises that simultaneously master the preparation technology of large-diameter monocrystalline silicon ingots, polycrystalline silicon ingots, and chemical vapor deposition silicon carbide, as well as high-precision processing of hard-brittle materials like silicon, quartz, and ceramics, and high-density coating preparation surface treatment technology. The company has currently formed an integrated business platform of "raw materials + components + surface treatment," providing customers with comprehensive solutions for multiple categories of components within manufacturing equipment vacuum chambers. (First Financial)

On June 23, rising US Federal Reserve rate-hike expectations drove the dollar index higher, putting pressure on international gold and silver prices, which declined. As of market close: August-delivery gold futures on the New York Mercantile Exchange closed at $4,149.40 per ounce, down 1.27%; July-delivery silver futures closed at $62.070 per ounce, down 5.36% from the previous trading day.

Additionally, Deutsche Bank recently downgraded its international gold price outlook in a report, noting that if the Federal Reserve maintains rates, the gold price target for the third quarter of this year would be $4,300 per ounce, a downward revision of over one-fifth from prior expectations; if the Federal Reserve raises rates three to four times, gold could fall to $3,800 per ounce. (China News Service, CCTV Finance)

The three major US stock indices had mixed performance on June 24: the Dow rose 0.35%, the Nasdaq fell 0.43%, and the S&P 500 fell 0.1%. Major tech stocks were mostly lower, with Microsoft down over 2%, SpaceX, Tesla, and Netflix down over 1%, and Nvidia, Meta, and Apple down slightly; Amazon rose slightly. Popular Chinese stocks fell more than they rose, with Nio down over 3%, Baidu, Alibaba, JD.com, iQiyi, and Xpeng down over 2%, Li Auto, NetEase, and Pinduoduo down over 1%; Bilibili rose over 3%.

On June 24, spot gold prices fell 1.69%, trading at $4,040.57 per ounce; spot silver prices fell 2.54%, trading at $59.96 per ounce.

Naftali Bennett, opposition leader and former Prime Minister of Israel, admitted on June 23 at a public event in Jerusalem that during his tenure as Israeli Prime Minister from 2021 to 2022, he procured tens of thousands of Starlink receivers and smuggled them into Iran to help anti-government protesters attempt to overthrow the Iranian government. However, according to Bennett, the current Israeli government led by Netanyahu has failed to continue the initiative.

Starlink is operated by Elon Musk's Space Exploration Technologies company and provides satellite internet services. Iran has previously accused Israel and the United States of smuggling such equipment into Iran to undermine its national security. Starlink has not obtained operating permits in Iran, though Musk previously stated that service is already available within Iran. (CCTV International News)

On June 24, according to Beijing Youth Sports News, informed sources revealed that with Ma Ning's confirmation to serve as fourth official in the Norway vs. France match, his main refereeing assignments at this World Cup have essentially been finalized. Due to incomplete referee teams in subsequent knockout rounds, Ma Ning is essentially confirmed to have missed the opportunity for main referee roles. (The Paper)

After Iran announced on June 23 that the Strait of Hormuz had been completely opened to commercial vessels for 60 days free of charge, market concerns about global crude oil oversupply intensified, combined with factors including strengthening of the US dollar driven by Federal Reserve rate-hike expectations, causing international oil prices to fall on June 23. As of market close, August-delivery light crude oil futures on the New York Mercantile Exchange closed at $73.21 per barrel, down 0.88%; August-delivery Brent crude oil futures in London closed at $77.08 per barrel, down 1.05%. (CCTV Finance)

Recently, a SemiAnalysis report triggered a collective selloff in the global optical communications sector, with the pessimistic narrative of "CPO production delays" causing significant market shock. Nvidia executives even rushed to "refute" the report during meetings in Taipei. Industry sources close to Nvidia confirm that no CPO production delays exist on the industry side. The massive market divergence may stem from confusion between two entirely different cycles: "small-batch validation introduction" and "industry-wide adoption." The reality is far more complex than a single bullish or bearish narrative. (21st Century Business Herald)

On June 24, Samsung Electronics stated in regulatory filings that the company is considering stock buybacks to fund bonus payments, though no specific timeline or scale has been determined. Samsung noted that the matter remains under discussion, with an announcement to follow within one month at the latest. Previously, it was reported that Samsung was preparing to repurchase approximately 90 trillion won in stock for employee bonuses and might announce details soon. (Jie Jie News)

Supply chain insiders reveal that Apple has finalized key specifications for its foldable iPhone, including display, casing, and mechanical components, and has entered the mass production preparation phase. Apple will begin mass production of its first foldable iPhone in late July. Despite recent rumors that the model might be delayed due to hinge issues, according to sources, Apple still plans to launch it on schedule in September. (Cailian Press)

The Ministry of Industry and Information Technology, jointly with the State-owned Assets Supervision and Administration Commission and four other departments, has launched an industrial 5G standalone private network pilot program, supporting 5G's deep empowerment of key industry sectors through mechanism innovation. Industrial 5G standalone private networks refer to enterprise-specific 5G networks in which industrial enterprises lead the construction of access networks, core networks, and other key infrastructure and can operate independently without relying on public networks. The pilot program will support large and super-large enterprises in raw materials, equipment manufacturing, consumer goods, electronics and information, defense and technology, energy and transportation, and other sectors in building standalone networks, encouraging large cities with "5G + Industrial Internet of Things" integration application pilot programs to take the lead in establishing standalone network construction.

The US Space Exploration Technologies company on June 23 conducted the first launch of the "Starfall" return capsule using the Falcon 9 rocket, aiming to demonstrate and validate this new uncrewed reentry return vehicle. Space Exploration Technologies stated that after completing the controlled flight demonstration, the vehicle will splash down in the Pacific Ocean. (Xinhua News Agency)

S&P Dow Jones Indices announced on June 23 (local time) that Alphabet will officially join the Dow Jones Industrial Average (DJIA) effective at the market open on June 29, replacing Verizon Communications. The adjustment stems from Verizon's lower stock price, which represents only approximately 0.5% of the DJIA's weight and has negligible impact on this price-weighted index.

Alphabet's business spans advertising, cloud infrastructure, AI, hardware, autonomous driving, medical technology, and media distribution—its higher market value and stock price will make it a more representative member of the DJIA's communications services sector. Additionally, Honeywell International is expected to complete the spin-off of Honeywell Aerospace on the same date; the parent company will rename itself Honeywell Technologies and remain in the DJIA, while Honeywell Aerospace will not be included. (Jie Jie News)

According to reports, Hong Kong hedge fund Ovata Capital Management Ltd., with $1.5 billion in assets under management, will close its operations, with its founder and most employees preparing to join ExodusPoint Capital Management, a US multi-strategy hedge fund giant. An informed source stated that as an important step to expand Asian equity trading operations, ExodusPoint, managing $14.5 billion in assets, will hire Ovata's Chief Investment Officer James Chen as Head of Asian Equity Business in the third quarter.

The Chicago Board Options Exchange launched the first products in its new prediction market product line on its global markets platform, including binary options contracts based on the micro S&P 500 index. The CBOE stated that the relevant contracts are now available for trading on Interactive Brokers and are expected to land on the Charles Schwab platform in coming months, with subsequent rollout to additional retail brokerage channels. (Sina Finance)

Kids Kingdom announced that the company submitted an H-share public listing application to the Hong Kong Stock Exchange on December 10, 2025, and updated the submission on June 23, 2026. The application materials are draft versions and may be updated and revised as appropriate. The company's proposed H-share issuance and listing still requires approval, authorization, or filing from the China Securities Regulatory Commission, Hong Kong Securities and Futures Commission, Hong Kong Stock Exchange, and other relevant government agencies, regulators, and securities exchanges; this matter remains uncertain.

Jiangxi Qiyun Mountain Food Company Limited updated its post-hearing information document on the Hong Kong Stock Exchange, indicating that the company has passed the Hong Kong Stock Exchange listing hearing for its IPO.

Lishen Precision announced that the company is proceeding with application for H-share issuance and listing on the Hong Kong Stock Exchange main board, having previously submitted its application and received filing from the China Securities Regulatory Commission. The announcement indicates that the Hong Kong Stock Exchange Listing Committee held an IPO listing hearing on the company's proposed issuance and listing application, and the company published its post-hearing information document on the Hong Kong Stock Exchange website on June 24, 2026. The issuance and listing remain subject to approval from relevant regulatory authorities and involve uncertainties.

Physics AI company "Qingyan Precision," backed by Tsinghua, recently completed a B3 round of financing worth hundreds of millions of yuan, with this round led by Beijing Green Energy Fund and BAIC Investment, with Yulon Group as a follow-on investor. The funding will be used for core talent recruitment, data collection center construction, research and development and scaled deployment of multimodal data collection equipment, and computing power procurement and model training infrastructure construction.

Green hydrogen production technology and solutions company "Heidel Hydrogen Energy" recently completed B+ round financing worth 100 million yuan, with Saudi Aramco and Conch Cement as strategic investors.

AI chip startup Groq announced on June 22 (local time) the completion of a $650 million new growth round of financing, led by Disruptive and Infinitum, with participation from some existing investors. The proceeds will be used to accelerate upgrades to existing data center infrastructure, including deployment of Nvidia's latest LPX systems, and aim to expand total installed capacity to 200 megawatts by the end of 2027. (Jie Jie News)

US Federal Express Company (FedEx) disclosed its 2026 fiscal year fourth quarter and full-year results for the period ended May 31, 2026 (local time on June 23). Full-year revenue of $94.7 billion, up 7.7% year-over-year; adjusted (non-GAAP) diluted earnings per share of $20.24, up 11.3% year-over-year; adjusted operating profit of $6.61 billion, with full-year transformation cost savings exceeding the $1 billion target. Fourth-quarter revenue of $25 billion, up 12.6% year-over-year; adjusted diluted earnings per share of $6.31, up 3.9% year-over-year, primarily driven by improved US domestic and international priority package revenue and cost savings, partially offset by impacts from global trade policy changes. (Jie Jie News)

Micron Technology disclosed its 2026 fiscal year third quarter results for the period ended May 28, 2026. Financial results show company revenue of $41.46 billion, compared to $23.86 billion in the previous quarter and $9.3 billion in the year-ago period; under GAAP standards, net profit of $28.24 billion, diluted earnings per share of $24.67; operating cash flow of $25.39 billion, compared to $11.9 billion in the previous quarter and $4.61 billion in the year-ago period. The company projects fourth-quarter revenue of $49-51 billion and adjusted EPS of $30-32.