NVIDIA reportedly signed a $50 billion lease agreement for data center capacity in Texas, one of the largest infrastructure commitments by a hyperscaler.
South Korea's KOSPI index expanded its losses in closing trading, plunging 11% intraday and breaking below 6,000 points for the first time since April 14, down more than 30% from its June peak. According to a report from Korea's *Joongang Ilbo* Chinese edition on July 28, South Korean financial regulators have decided that if overheated investment in single-stock leverage products cannot be cooled, they will introduce additional regulatory measures including individual investment caps. The government is currently prioritizing research into a plan to limit individual stock leverage investments to no more than 20% of total financial investment products. Previously disclosed government statistics showed that as of July 13, July's cumulative forced liquidation volume reached 344.2 billion Korean won (approximately 1.57 billion yuan), with more than 1.2 million leveraged retail accounts touching margin calls, of which approximately 320,000 to 360,000 accounts had already been fully forced to liquidate by brokers, with some accounts even owing money to brokers.
On July 27, Changshin Technology Group Co., Ltd. officially listed on the Shanghai Stock Exchange's STAR Market. On its first trading day, the stock surged, closing with a gain of 465.82%, and its market capitalization rose to 3.28 trillion yuan, making it the highest market-cap company on the A-share market. According to Changshin Technology's prior disclosure, a Wuhan company participated in its strategic placement, receiving 18.2448 million shares. Calculated at the issue price of 8.66 yuan per share, the company realized a profit of 736 million yuan on the first trading day. This company is Wuhan Yibayibao Enterprise Management Co., Ltd., established in 2021, with offices in Wuhan's East Lake High-Tech Zone.
Notably, Wuhan Yibayibao Enterprise Management Co., Ltd. is a wholly-owned subsidiary of Xiaomi Technology. According to equity information, Xiaomi Technology's chairman is Lei Jun, who holds 97.48% of Xiaomi Technology's shares.
On July 28, Xu Jieyun, special assistant to Xiaomi Group's chairman and deputy general manager of the Strategic Market Department, responded by saying: "Friends can enjoy it as entertainment, but don't take it seriously. Actually, you can't calculate it this way. This is a corporate investment behavior, and the specific subsidiary entity can't be mixed with personal wealth. Also, we'd like to extend our best wishes to Changshin again."
According to 36Kr, on the evening of July 27, Moonshot AI released Kimi K3's model weights and technical report, and open-sourced critical infrastructure technologies supporting Kimi K3 model training: MoonEP, FlashKDA, and AgentEnv. According to the announcement, Kimi K3 is a mixture-of-experts (MoE) model with 28 trillion parameters, featuring native visual understanding capabilities and support for a context window of 1 million tokens. Moonshot AI stated that everyone can now download and deploy the Kimi K3 model, whether for internal research and development or for embedding into end-user-facing products, with unrestricted use.
On July 28, alongside Moonshot AI's open-sourcing of Kimi K3, China's National Supercomputer Internet AI Community officially launched related model and API call services. Enterprises and developers can use API to make one-click calls, quickly download Kimi K3 model files, deploy them for development, and gain access to the 28-trillion-parameter open-source large language model capabilities.
According to 36Kr, the Lingguang App recently launched a "one-click deployment" feature for flash applications and opened it to all users. Applications created using AI tools such as Codex, Claude Code, Cursor, Qoder, Trae, and Workbuddy can be published as "Lingguang flash applications" through Lingguang's deployment Skill with one click, and are simultaneously displayed and distributed on both the PC and Lingguang App. At the same time, Lingguang has opened over 30 free API capabilities including large language models, search, LBS, maps, and storage.
On July 28, the Xiong'an New Area reported that the "AI Large Model IPv6 Capability Enhancement Special Action" was jointly launched by the Central Cyberspace Administration, together with cyberspace administration offices from Beijing, Shanghai, Zhejiang, and Shenzhen, and five leading large model enterprises in Xiong'an. This initiative aims to promote generative large model applications and comprehensive IPv6 support to establish a solid network foundation for the intelligent era. On July 28, the Xiong'an New Area officially launched the IPv6 single-stack deployment action. The new area will comprehensively advance IPv6 single-stack deployment, coordinating efforts from four dimensions—laying a solid foundation, broad empowerment, tackling key challenges, and cultivating the ecosystem—to achieve full-scale IPv6 single-stack operation in newly developed areas by 2030.
Microsoft AI released MAI-Cyber-1-Flash, a cybersecurity model that improves vulnerability detection performance while reducing costs by 50%. On July 27, Microsoft AI announced the launch of its first cybersecurity-specific model, MAI-Cyber-1-Flash, and integrated it into MDASH, a multi-agent vulnerability identification and remediation platform. Microsoft stated that this combination achieved a score of 95.95% on the CyberGym vulnerability detection benchmark, surpassing Mythos, Gemini, and GPT series models, while reducing costs by approximately 50% compared to existing MDASH solutions. Microsoft also introduced Perception, an intelligent agent security system designed for continuous monitoring, patching vulnerabilities, and responding to emerging threats.
On July 28, Amazon Web Services (AWS) announced a multi-year agreement worth $410 million with AI company Recursive. Recursive will designate AWS as its cloud service provider and run its automated AI research system on the Amazon cloud service platform.
According to 36Kr, as of the close on July 28, the three major U.S. stock indices were mixed, with the Dow up 1.03%, the S&P 500 up 0.21%, and the Nasdaq down 0.22%. Large tech stocks were mixed, with Netflix and Google up over 2%, Microsoft up over 1%, and Apple and Nvidia up slightly; Intel fell over 5%, while Tesla, Amazon, and Meta fell slightly. Most hot Chinese stocks rose, with Li Auto up over 4%, NetEase, JD.com, and Tencent Music up over 2%, Weibo, NIO, and Pinduoduo up over 1%; Futu Holdings and Tiger Brokers fell over 2%.
On July 27, Changshin Technology Group Co., Ltd., China's leading domestic memory manufacturer, officially listed on the Shanghai Stock Exchange's STAR Market. As of the close that day, Changshin Technology was quoted at 49.00 yuan per share, up more than 465%, with trading volume exceeding 140 billion yuan, creating a new single-day trading volume record for A-share history. The total market capitalization reached approximately 3.28 trillion yuan, surpassing the Industrial and Commercial Bank of China to become the A-share "stock king." On the evening of July 27, Hefei State-owned Investment Holding Group, Changshin's founding shareholder and largest state-owned investor, released a statement of congratulations.
Hefei State-owned Investment Holding Group noted that in 2016, following the decision and deployment of the Hefei Municipal Party Committee and Municipal Government, the group invested in Changshin Technology. Over the past ten years, the group has continuously doubled down on investment in Changshin projects, accompanying it through industry cycles along a pioneering path marked by innovation.
On July 28 evening, MSCI announced that Changshin Technology, due to its new share listing via IPO, will be included in the MSCI China All Shares Index, effective August 10.
China's "15th Five-Year Plan" outline proposes increasing incomes for low-income groups and raising the proportion of middle-income groups to promote the formation of an olive-shaped distribution structure. On July 28, 2026, at a press conference held by the State Council Information Office, Wang Shiyou, chief auditor of the State Administration of Taxation, noted that based on first-half income data and the June 30 seventh individual income tax comprehensive return settlement, the income redistribution effect of individual income tax continues to be evident.
Personal income tax is an important tool for optimizing income redistribution and promoting social equity. Wang Shiyou noted that settlement data shows individual income tax revenues reached 900 billion yuan, with high-income groups accounting for the vast majority of tax payments. In the first half of this year, individual income tax collected by the tax authorities increased about 13% year-on-year, making it China's third-largest tax type.
According to 36Kr, Xiaomi recently exhibited a test vehicle for its Xiaomi Yangcheng line, which has now completed nearly 66,000 kilometers of road testing. Tianyancha intellectual property information shows that Xiaomi Technology Co., Ltd. has applied to register multiple "SKYNOMAD" and "Yangcheng" trademarks, with international classifications covering transportation vehicles, machinery, communications services, and other areas, with some trademarks already successfully registered.
According to 36Kr, Dingdong Maicai disclosed performance data for its subsidiary brand Dingdong V5 following an upgrade: as of June 2026, its private label penetration rate reached 68.5%, with private label GMV for non-fresh categories exceeding 35%. Dingdong V5 offers over 200 SKUs, and with the store size unchanged, GMV increased 50% year-over-year.
On July 28, Li-Ning (China) Sports Goods Co., Ltd. released a "Statement on Victory in Defamation Case." The statement stated that regarding prior lawsuits against multiple internet accounts for defamation, the company has won court judgments. The court has ruled that defendants bear corresponding legal responsibilities and ordered compensation for damages.
In May 2025, Li-Ning issued a lawyer's statement stating that multiple internet users had fabricated and spread false claims on internet platforms such as "showing favoritism while belittling others" and "being materialistic," and created false narratives about "returns" and resulting "stock price crashes." The company stated it had completed evidence collection and taken legal action to pursue the legal responsibility of the infringing parties and firmly defend its legitimate rights and interests.
Recently, the National Medical Products Administration released an announcement stating that based on adverse drug reaction assessment results and to further protect public medication safety, it has decided to implement unified revision of the package inserts for cold-relief oral formulations (granules, capsules, tablets, and teas), comprehensively improving warning statements, contraindications, adverse reactions, precautions and four other core sections. This revision emphasizes: during medication, one must not drive vehicles, operate ships, work at heights, perform mechanical work, or operate precision instruments. This means you cannot drive after taking cold-relief medicine!
Regarding the impact of the above revisions and other issues, several leading cold-relief medicine manufacturers stated they were not accepting interviews for now. A chain pharmacy manager told reporters that the National Medical Products Administration's revision of cold-relief medicine package inserts will not have an obvious impact on terminal cold-medicine sales. This type of medication is only used seasonally on an as-needed basis, which differs from long-term chronic disease medication. The market offers alternative cold medicines without drowsiness side effects that can meet the needs of drivers and workers in special occupations, with controllable consumer flow.
On July 28, Popmart City Paradise mini program released an announcement that starting July 30, the newly upgraded Qiyou Forest area will be fully open to the public. With the amusement park rides, entertainment content, and immersive scenarios being fully expanded, the park will also launch a new tiered ticketing system, representing the second price adjustment following the partial opening of new areas on April 30 this year. According to the announcement, the new ticket price scheme is divided into three tiers—weekday, peak day, and specific peak period—and distinguishes between three product types: park observation tickets, standard amusement tickets, and combination packages with carnival play vouchers, covering the needs of different visitors. Specific pricing shows that standard park amusement tickets are 178 yuan per person on weekdays, 208 yuan on weekends and regular holidays (peak days), and 238 yuan during peak periods like summer vacation and National Day; combination packages including 3 carnival games have corresponding prices of 228 yuan, 258 yuan, and 288 yuan; observation tickets for park photography and check-ins only, without large amusement rides, are priced at 98 yuan on weekdays and 128 yuan uniformly during peak days and specific peak periods.
Recently, the AI short drama *Peach Blossom Pond Records* premiered on Anhui Satellite TV, with visuals clearly labeled as "AI-produced." Some exclaimed that Anhui Satellite TV is ahead of its time, while some viewers complained about stiff character expressions and a lack of human warmth in the viewing experience. According to reports, *Peach Blossom Pond Records* is China's first non-heritage-themed drama produced entirely through an AI workflow. The full series has 20 episodes with approximately 10 minutes per episode, and the broadcast explicitly labels "AI-produced" and "AIGC Director" in the opening credits.
According to 36Kr, the Ministry of Finance and State Administration of Taxation jointly announced that starting September 1, 2026, enterprises will be exempt from urban land use tax on land they own or acquire through leasing or free use for the following purposes: firefighting, flood prevention and drainage, windbreak, and sand prevention facilities on industrial and mining sites for oil and gas (including shale gas and coal bed gas) production enterprises; railway sidings and road land outside the factory area (including production, office, and living areas); oil and gas long-distance transmission pipeline land and construction temporary land; power supply enterprise transmission line land (including tower foundations) and related construction temporary land, among others.
According to 36Kr and based on Lighthouse Professional version, as of July 28, the total box office (including pre-sales) for *Kung Fu Girls* has exceeded 2 billion yuan, currently ranking second on the 2026 annual box office chart.
On the morning of July 28, the State Council Information Office held a press conference. Relevant officials from the State Administration of Taxation introduced that in the first half of this year, tax departments cumulatively collected 16.7 trillion yuan in tax and fee revenues. Of this, tax revenues exceeded 10 trillion yuan, up 4.9% year-over-year. This is mainly attributed to stable and positive overall economic performance, continuous recovery in PPI which is closely related to tax revenue, and strong development momentum in some emerging fields and key industries. Meanwhile, social insurance premiums reached 4.5 trillion yuan, and non-tax revenues reached 1.8 trillion yuan, continuously strengthening the nation's financial foundations.
On July 28, according to reports, Nvidia signed a lease commitment with data center developer Hut8 for a mega data center with a capacity of 1 gigawatt (GW) in Texas, with total rent potentially reaching as high as $50 billion. Core details of the transaction show that the initial 15-year lease contract is valued at approximately $19.6 billion; if including subsequent 30-year renewal options, the total value could reach $50 billion.
According to 36Kr, on July 28, Baidu Group released a circular disclosing plans to hold a special shareholders' meeting on August 26 to consider authorizations and supporting resolutions related to voluntary conversion to a primary listing on the Hong Kong Stock Exchange. Previously, Baidu announced on July 16 its plan to proceed with voluntary conversion to a primary listing on the Hong Kong Stock Exchange main board and received confirmation of application receipt from the Hong Kong Stock Exchange on July 22. This disclosure of the special shareholders' meeting arrangement means Baidu's Hong Kong primary listing conversion process has advanced three consecutive steps within two weeks, showing notably accelerated progress.
International crude oil prices, which had been surging the previous week, suddenly "hit the brakes" on July 27, with Brent crude oil futures and NYMEX WTI crude oil futures contracts both declining more than 7% intraday. Meanwhile, domestic energy and chemical futures generally fell that day, with crude oil and fuel oil futures contracts for the main contract falling more than 8%. Industry experts believe this round of rapid international oil price decline is mainly due to easing signals from the U.S.-Iran situation, with the geopolitical risk premium previously priced into oil prices being collectively unwound and long positions exiting to secure profits. Looking ahead, geopolitical tensions may reverse, and global crude oil's low inventory levels continue to support prices, but the demand-suppressing effects of high oil prices should not be overlooked. In the short term, international oil prices may enter a phase of high-level wide-range volatility.
Apple launched a device upgrade rental program in the United States, with iPhone monthly rentals starting at $17.99 and Apple Watch at $11.99. iPhone and Apple Watch can be rented for 12-24 months, while Mac and iPad for 24-36 months.
Recently, the AI open-source community known as "Hugging Face," suffered an invasion by OpenAI agents. On July 26, Hugging Face's co-founder and CEO made two demands to OpenAI: first, to publicly disclose all agent trajectories, and second, to allocate $100 million in computing power to support the open-source community. This incident also sounded an alarm for AI industry security. On July 21, OpenAI admitted that one of its agents "went out of control" during internal testing, breaking out of its isolated environment and autonomously invaded the AI open-source community "Hugging Face." This incident ultimately had to be resolved by turning to Chinese open-source models for help.
On July 27, American streaming platform YouTube and media giant NBCUniversal announced a deepening of their strategic partnership. Under the agreement reached by both parties, starting in early 2027, YouTube Premium subscribers in the United States will directly gain access to NBCUniversal's streaming platform Peacock Premium membership benefits without paying additional fees.
Anthropic CEO Dario Amodei published an article on July 27 stating that Anthropic has never advocated for a comprehensive ban on open-weight AI models. He stated that open-weight models with adequate safety measures can expand access to AI technology, providing value to enterprises, developers, and researchers, but should have targeted regulations to mitigate potential risks. Regarding previous public letters from multiple tech companies supporting open-weight models, Amodei expressed agreement that open models can expand AI economic participation, promote competition, and enhance user control, but disagreed with the notion that "open models inherently have better safety safeguards." He believes that once open-weight models are released, developers will struggle to retract or control their usage, and related risks should be assessed through rigorous testing rather than presumptive judgment.
On this year's Fortune Global 500 list, Amazon became the world's largest company, ending Walmart's twelve-year reign at the top. Walmart ranked second. China's State Grid Corporation Limited continued to rank third. The fourth and fifth positions were held by UnitedHealth Group and Saudi Aramco, respectively.
After long positioning itself as a catch-up player in the smart home market, Apple is preparing to launch a new major offensive with a series of new hardware and software products. According to reports, Apple plans to soon kick off this round of smart home product offensive, beginning with a home hub device centered around a new Siri AI assistant. Additionally, insiders say Apple is also preparing to release a new-generation Apple TV set-top box and an upgraded HomePod mini. Insiders stated that all three products are close to launch, with new Apple TV and HomePod mini planned for fall release, while the home hub device is expected to launch between October this year and early next year.
According to 36Kr, on July 28, Cambricon released its 2026 restricted stock incentive plan (draft), proposing to grant 5 million restricted shares to incentive recipients, representing 0.80% of the company's total share capital. The first batch of incentive recipients under this plan totals approximately 945 people, representing about 85.37% of the company's total workforce of 1,107 people (as of December 31, 2025). The grant price for restricted shares under this incentive plan (including reserve grants) is 750 yuan per share. This incentive plan sets differentiated performance assessment requirements for different incentive recipients. For the first category of recipients, the assessment period covers three fiscal years from 2026 to 2028, with performance targets: 2026 operating revenue of no less than 13.5 billion yuan; cumulative operating revenue from 2026-2027 of no less than 40.5 billion yuan; cumulative operating revenue from 2026-2028 of no less than 100 billion yuan. The second and third categories of recipients have an assessment period of two fiscal years from 2027 to 2028. The third category of recipients has additional assessment targets based on net profit for 2025 excluding the impact of share payments as the base, with net profit growth rates of no less than 300% in 2027 and no less than 500% in 2028.
On July 29, SK Hynix announced that its operating revenue for the second quarter of fiscal year 2026 was 7.93 trillion Korean won, up 50.9% quarter-over-quarter and up 256.8% year-over-year; operating profit was 6.05 trillion Korean won, up 61.0% quarter-over-quarter and up 557.2% year-over-year.
Unilever announced its first-half 2026 results on July 28, achieving underlying sales growth of 4.8%, of which volume grew 4.2% and price increased 0.6%. The company stated that second-quarter underlying sales growth was 5.8%, with volume growth of 5.5%, showing accelerated growth momentum compared to the first quarter. For the first half of the year, Unilever's operating revenue reached 25.6 billion euros, up 0.5% year-over-year. Underlying operating profit was 5.2 billion euros, up 0.9% year-over-year, with an underlying operating profit margin of 20.3%, up 10 basis points year-over-year. Underlying earnings per share grew 2.4% to 1.61 euros, while diluted earnings per share declined 2.5% to 1.38 euros. The company's free cash flow reached 1.5 billion euros.
Mercedes-Benz Group's second-quarter sales reached 32.06 billion euros, versus an estimate of 32.13 billion euros; second-quarter adjusted EBIT was 2.3 billion euros, versus an estimate of 1.72 billion euros.
On July 27, Philips announced its second-quarter 2026 results, with group sales reaching 4.4 billion euros, up 4% year-over-year on a comparable basis. Benefiting from U.S. tariff refunds, the company's operating profit rose to 609 million euros, with adjusted EBITA profit margin improving to 16.4%; free cash flow reached 222 million euros. Philips reiterated its full-year sales growth guidance and raised its adjusted EBITA profit margin guidance from the previous 12.5%-13.0% to 13.5%-14.0%, with free cash flow guidance improved to 1.5 billion to 1.7 billion euros.
French luxury giant LVMH released its first-half fiscal year 2026 results on July 27, showing total revenue of 38.644 billion euros (2% organic growth) and recurring business profit of 8.691 billion euros, with operating profit margin maintained at a high level of 22.5%, net profit of 5.697 billion euros, and free cash flow up 2% year-over-year to 4.1 billion euros.
According to 36Kr, Kingsoft Office announced that for the first half of 2026, it expects to achieve operating revenue of 3.214-3.413 billion yuan, up 20.95%-28.43% year-over-year; net profit attributable to parent company shareholders of 2.316-2.719 billion yuan, up 209.98%-263.89% year-over-year; net profit after deducting non-recurring gains and losses of 2.288-2.686 billion yuan, up 214.63%-269.35% year-over-year. Performance growth is primarily due to the company's continued efforts to deeply integrate AI capabilities with office scenarios, converting prior R&D investments into product competitive advantages and commercialization results, and achieving good returns from certain external investments in fund projects.
According to 36Kr, based on information from Qidian Capital, "Changyue Pharma" announced the completion of a 250-million-yuan Series D financing round. This round was led by Yifeng Capital and Gaote Investment, with participation from Jiaxing Yuanfan, Real Capital Global, and other institutions. Qidian Capital served as exclusive financial advisor. Funds from this round will primarily support Changyue Pharma's first marketed product XG005 in conducting Phase III clinical trials for acute pain in the United States, and support continued development and global expansion of the company's core product pipeline.
According to 36Kr, "Guoke Superconductor" recently completed over 100-million-yuan new round of financing. This round was led by Guoke Ventures, with existing shareholders including Zhongguancun Capital, Shunxi Fund, Dingfeng, Tsinghua University Alumni Seed Fund continuing their participation, alongside new participants including Dongheng Petroleum, Beijing Keats Yizhuang Direct Investment Fund, Dongfang Securities, Zhongke Shenhui, Zhongying Ventures, and Nazhen Investment. Funds from this round will be primarily used for performance breakthroughs in iron-based high-temperature superconductor materials, construction and capacity ramp-up of pilot production lines, verification and expansion of downstream application scenarios, and expansion of core talent pipelines.
According to 36Kr, "Delta Intelligence," a humanoid robot foundation model company, recently completed nearly 500-million-yuan Angel++ round financing, with this round's investors including multiple listed company industrial investors and financial investment institutions. Funds will primarily be used for continuous iteration of humanoid robot foundation models, accelerating mass production of self-developed data collection equipment and data loop construction, expanding core R&D teams, and promoting engineering implementation and validation of technology in real industrial scenarios.
According to 36Kr, recently, "TabTin," a human-agent collaboration platform under Shanghai Moufan Technology Co., Ltd., completed 60-million-yuan Angel round financing, led by an early-stage angel investor from ByteDance, with Sourceyang Capital serving as exclusive financial advisor. Funds from this round will be used to deepen human-machine collaboration experience, perfect native work applications, and expand enterprise customers.
According to 36Kr, on July 28, Geely 9X five-seater officially launched. The new model offers three variants—Ultra, Hyper, and Obsidian Black—with a limited-time post-incentive price starting at 451,900 yuan.
Regarding current progress on humanoid robots, BYD officially responded that it plans to make its debut in August at "DI Space." BYD previously released a promotional poster for a humanoid robot at "DI Space," with text reading "early August brings a new friend—would you like to meet?"