Pinduoduo Snaps Up a Building in Shanghai’s Lujiazui
On July 9th, NUPIAO learned that Pinduoduo just purchased a whole building in Shanghai’s Pudong New Area—the DBS Bank Tower right in the heart of Lujiazui. Public records show this tower is perfectly situated, just a few minutes’ walk from the Lujiazui subway station on Line 2, surrounded by hotspots like the Shanghai IFC and Super Brand Mall. Built in 2009, this 19-story office complex boasts a total area of around 46,000 square meters, with standard floors spanning 2,600 square meters. What a prime piece of real estate!
“Memory King” GigaDevice’s Half-Year Profits Set to Skyrocket Over 10x
On the evening of July 9th, memory chip giant GigaDevice (603986.SH) dropped its earnings forecast for the first half of the year, and the numbers are jaw-dropping. They’re expecting net profits attributable to shareholders to hit around 6.9 billion yuan—a massive 1099% year-on-year jump! Deducted non-recurring net profits are looking at roughly 4.85 billion yuan, up 791%, with total revenue projected around 11.5 billion yuan, climbing 177%.
GigaDevice explained that during the reporting period, the memory chip market saw tight supply, pushing both volume and prices up for their products, which seriously boosted their memory business profitability. Their microcontroller products also rode the wave of strong demand across industrial, consumer, and automotive sectors, shipping way more units. With both revenue scale and profit quality soaring, their overall performance is shooting through the roof.
“Apple Chain King” Luxshare Precision Breaks IPO Price on HK Debut
On July 9th, A-share precision manufacturing leader and Apple’s top supplier, Luxshare Precision, officially hit the Hong Kong Stock Exchange under the ticker 02475.HK, completing its “A+H” dual-listing setup. But the first-day trading didn’t exactly go as planned—right after opening, it tumbled below the issue price, with intraday losses diving over 7%.
For this H-share global offering, Luxshare rolled out 383 million shares, finalizing the price at 63.28 HKD per share. They raked in a total of 24.266 billion HKD, and after deducting listing fees, the net raise sits at roughly 24.039 billion HKD. This absolutely dwarfs other HK new stock issuances this year, making it the biggest HK IPO of the year so far.
Alipay’s Huabei Apologizes for Glitch
On the night of July 8th, tons of users flooded complaints that Alipay’s Huabei repayment page just wouldn’t load. Screenshots shared by frustrated folks showed error messages like “Network Busy” or “Bills temporarily unavailable due to system maintenance.” Addressing the chaos, Alipay’s customer service reassured everyone that the system upgrade is now done and things are back to normal. They sincerely apologized for the hassle and added, “Huabei has a three-day grace period, so if you repay within that window, your credit score won’t take a hit.” Good to know!
StepFun: Dropping the World’s First AI Agent Phone
On July 9th, NUPIAO caught wind that Chinese AI large-model unicorn StepFun is about to unveil an AI terminal brand and an agent system, and they’re claiming they’ll simultaneously launch the world’s very first AI agent phone. Word on the street is that StepFun is planning to drop the brand reveal and their next-gen agent strategy on July 13th. We can’t wait to see what they’ve cooked up!
SK Hynix’s US ADR Pricing Guide reportedly 3.1% Higher than Korean Market Close
NUPIAO learned from insiders that SK Hynix has given investors a heads-up: they’re planning to set the US listing price at $149 per American Depositary Receipt (ADR). Crunching the numbers, this ADR price sits about 3.1% higher than the stock’s Thursday closing price for regular shares in the Korean market. Looks like they’re aiming for a premium!
Meta Gearing Up to Produce AI Chips in Sept, Locks in Supply Deals with Samsung & SanDisk
NUPIAO got a peek at a memo showing Meta is planning to start churning out its “Iris” AI chips as early as September. They’re expecting to deploy 7 gigawatts of computing infrastructure this year and want to double that computing muscle to 14 gigawatts by next year. Talk about scaling up!
To fuel this massive infrastructure expansion, Meta has already locked in several long-term supply deals. These include a memory chip agreement with Samsung Electronics, a flash storage pact with SanDisk, and a fiber optic equipment deal with Sumitomo Electric. They’re definitely not playing around when it comes to securing their supply chain!
Micron Cranks Up US Investment Plans to Over $250 Billion by 2035
On July 9th, Micron Technology dropped a statement announcing they’re speeding up investments in US wafer fabs and tech, bumping their projected total investment through 2035 to a staggering $250 billion. Micron expects this cash injection to help nail their long-term goal: producing 40% of their DRAM products right on US soil, while also spinning off plenty of high-paying direct and indirect jobs. A massive win for domestic manufacturing!
