GMT EIGHT - Commercial - Company&Products

From Industry Leader to Struggler: Naixue’s Contradictions and Challenges

Naixue (01810.HK) reported 2024 revenue of 4.921 billion yuan, down 4.7% year-on-year, and recorded an adjusted net loss of 919 million yuan, the only one among the top five Hong Kong-listed tea brands to post a loss.

Nvidia Faces Bipartisan Pressure Over New China Facility Amid U.S.-China Tech Tensions

Nvidia’s CEO Jensen Huang faces bipartisan pressure from U.S. Senators Jim Banks and Elizabeth Warren over plans to open a new R&D facility in China, raising national security concerns. The senators demand detailed disclosures by June 20, while Nvidia maintains the new office is for existing staff and denies advanced chip design at the site.

Rocket Pharma Shares Plunge Over 60% After FDA Halts Gene Therapy Trial

Rocket Pharma (RCKT.US) plunged over 60% in intraday trading after the FDA suspended its Phase 2 clinical trial for the Danon disease gene therapy, RP-A501, following the death of a patient.

Volvo Group to Lay Off 3,000 Employees, Majority Are White-Collar Workers

Volvo Group announced plans to lay off 3,000 employees, representing 15% of its office workforce, as part of a restructuring effort to cut SEK 18 billion (approximately USD 1.9 billion) in costs.

NVIDIA Plans to Launch New China-Specific GPU at Significantly Lower Price Than H20

NVIDIA plans to launch a new China-specific AI GPU priced between $6,500 and $8,000—significantly lower than the H20’s $10,000–$12,000 range—with mass production possibly starting in June.

Xiaomi Unveils 3nm Chip and YU7 SUV at 15th Anniversary Event

Xiaomi (01810.HK) officially released its self-developed 3nm flagship SoC chip “Xuanjie O1” and luxury SUV “Xiaomi YU7” during its 15th anniversary event. Xuanjie O1 marks Xiaomi as the first in mainland China and fourth globally to independently design a 3nm SoC, with over RMB 13.5 billion invested and 2,500+ R&D staff involved.

Anthropic Launches Claude 4 Series, Sets New Benchmark with 7-Hour Autonomous Coding

Anthropic officially released its most advanced language model, Claude 4 series, with the flagship Claude 4 Opus achieving a record 7-hour continuous autonomous coding capability. The models are accessible via Anthropic API, Amazon Bedrock, and Google Cloud’s Vertex AI, and classified at ASL-3 safety level.

Airbnb Launches Enhanced Lifestyle Services and Experiences, Expanding Beyond Vacation Rentals

Airbnb launched “Airbnb Services” and upgraded “Airbnb Experiences,” expanding beyond rentals into lifestyle services in 260 cities. It plans to invest $200 million in 2025 despite a 42% net profit decline in Q1 revenue of $2.3 billion. The move aims to boost user engagement and platform appeal.

HarmonyOS-Powered Computer Officially Released: A Major Breakthrough in Domestic Operating Systems

On May 19, Huawei launched two HarmonyOS PCs, including its first foldable model, marking a major breakthrough in China’s OS development. The devices feature full in-house control and deep mobile-PC integration. HarmonyOS now powers over 1 billion connected devices.

Seeking Coverage

Being Writer

Exploring Cooperation