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Zhipu AI and MiniMax Ring the Bell One After Another: China’s Large-Model Industry Faces a Major Test of Commercial Value
January 8 and 9, 2026, are destined to be written into the history of China’s artificial intelligence development. In just two days, Zhipu AI and MiniMax successively listed on the Hong Kong Stock Exchange, not only creating the capital-market myths…
From Pasture to Table: The Differentiated Growth Playbook of “Adopt a Cow”
“Adopt a Cow” reached a 2025 adult milk powder business scale of RMB 500–600 million (USD 71.70–86.04 million), with a YoY growth rate of about 30%, but its profit margin was only in the single digits; the 2026 goal is…
2026: How Will Local Governments in China Fight the “Critical Battle” of Debt Resolution? A Key Step Toward Becoming a Financial Power
On January 5, 2026, Shandong Province issued RMB 72.381 billion (USD 10.364 billion) in local government bonds, marking the official opening of this year’s local-bond issuance cycle. Part of the funds will be used for new projects, while another part…
Year-End Commentary from the Auto Circle: What Should We Watch in China’s Homegrown Brands?
Recently, Nikkei published an article predicting that China’s auto sales in 2025 are expected to reach 27 million vehicles, potentially surpassing Japan—whose automakers have held the top spot for more than two decades—to take first place globally. This is, of…
DingTalk Is “Ending” the Old DingTalk With Its Own Hands
In the AI era, the real opponent has never been competing products, but old paradigms. Over the past decade, the evolution path of enterprise office software has been almost linear: from PC to mobile, from documents to collaboration, from workflows…
Tencent’s AI “Second Half” Begins: Yao Shunyu Takes the Helm, Hunyuan 2.0 Draws the Sword—Can It Become a Belated All-Out Sprint?
In December 2025, an internal Tencent announcement nevertheless stirred up massive waves across the tech circle. Former OpenAI scientist Yao Shunyu (Vinces Yao) has formally taken office as Chief AI Scientist of Tencent’s “CEO Office,” while also leading the newly…
Copper Prices Soar Into the Stratosphere! Behind USD 12,000 per Ton, a Storm Is Unfolding
U.S. tariff threats have triggered a panic-driven “rush to export,” and global copper inventories are undergoing a heart-stopping transoceanic great migration. For the first time, the market has drawn an equals sign between “national security” and the red metal, copper.…
Neuromodulation Opens a Paradigm Revolution in Weight Loss
Neurovalens recently announced that the U.S. FDA has approved the market launch of its non-invasive neuromodulation device for weight management, Modius Lean, marking the official entry of neuromodulation technology into the weight management market. Neuroscience research is shifting the battlefield…
Muxi’s IPO: The Industrial Restructuring Logic Behind the Breakthrough of Domestic GPUs and the Capital Frenzy
In product planning, Muxi has built a full-stack GPU product matrix spanning three major domains—AI computing, general-purpose computing, and graphics rendering—demonstrating a clear sense of strategic layering. The Xisi N-series focuses on intelligent computing inference; the Xiyun C-series targets integrated…
Commercialization Year One? A Focus on China’s Humanoid Robot Industry in 2026
On December 8, Zhiyuan Robotics delivered its 5,000th mass-produced humanoid robot off the line; on December 13, Unitree announced the launch of a humanoid robot app store. Looking back at 2025—from U-Number Technology’s H1 dancing a yangge on the Spring…