Changxin Tech IPO Priced at 8.66 Yuan Per Share, Founder Zhu Yiming’s Net Worth Surpasses 30 Billion Yuan
On July 14, Changxin Technology announced its IPO price on the STAR Market at 8.66 yuan per share. Based on founder and chairman Zhu Yiming’s holdings of 1,592,430,946 shares, his stake in Changxin Tech is valued at 13.79 billion yuan. Additionally, considering Zhu Yiming’s 5.13% stake in GigaDevice and its closing market cap of 410.3 billion yuan on July 14, his total holdings in both companies are worth a whopping 34.8 billion yuan.
IBM Shares Tumble 25%, Marking the Biggest Single-Day Drop Since 1987
On July 14, IBM’s stock price took a nosedive, falling 25% and recording its largest single-day intraday decline since 1987. According to preliminary financial results released by IBM, second-quarter revenue for fiscal year 2026 came in at $17.2 billion, up 1% year-over-year. GAAP gross margin was 57.7%, down 100 basis points from last year, and GAAP diluted earnings per share hit $2.27, a 2% drop. The company blamed the disappointing results on customers shifting their spending toward chips and servers.
Sun Dongxu Co-Founds Company with Former East Buy Hosts; Yu Minhong Responds
Recently, Sun Dongxu, former CEO of East Buy, joined forces with former hosts Mingming and Tianquan to set up a new company, signaling a return to the livestream e-commerce scene. On July 13, Yu Minhong addressed the buzz during a livestream on the “East Buy Explore the World” account. Yu remarked that while there’s a lot of chatter about the Miliant Tomorrow company, much of it is unnecessary. He pointed out that people leaving jobs need to find work, and sticking to what they know is perfectly normal. He also noted that New Oriental doesn’t enforce non-compete clauses except for sensitive roles, so diving back into livestream e-commerce is no big deal.
Yu Minhong also expressed hope that they’d do well in livestream sales, saying it wouldn’t hurt East Buy and could even benefit consumers by offering more choices and allowing for price comparisons across platforms. He added that everyone should focus on their own development, and fans can stick to their favorite hosts without jumping between platforms to attack others—it’s just pointless.
SWANCOR Unveils World’s First Deformable Personal Robot, Qiyuan T1
On July 14, SWANCOR officially launched the Qiyuan T1 (Transformer 1), the first product under its consumer-grade embodied intelligence brand, Qiyuan Robotics. Billed as the world’s first deformable personal robot, the T1 features a Transformer cross-morphology unified architecture, allowing it to autonomously switch between wheeled-humanoid and quadruped forms. Beyond mobility and companionship, the Qiyuan T1 also boasts mobile imaging capabilities, seamlessly integrating with mainstream action cameras for voice-activated shooting, intelligent tracking, motion-controlled framing, and multi-camera setups, making it a handy mobile photography device for daily recording.
EHang Responds to Layoff Rumors
On July 14, as reported by National Business Daily, EHang, known as the “first eVTOL stock,” stated that its recent organizational efficiency optimization and talent structure refresh are standard management moves. This optimization, driven by AI efficiency gains, focuses on low-performing roles. While some positions are being cut, the company is also actively recruiting specialized talent, keeping its core team stable. The rumors surfaced just days ago, following a less-than-stellar quarterly report from EHang, which naturally drew extra attention.
Innoviz Updates on Patent Infringement Lawsuits with Hesai Technology
On the evening of July 14, Innoviz disclosed in a Hong Kong Stock Exchange filing that, as of the date, Hesai Technology and its affiliates had filed four patent infringement lawsuits against certain members of the Innoviz group in the Ningbo Intermediate People’s Court. These cases have recently been concluded in the first instance. One case was dismissed because the asserted patent was entirely invalidated, another two were voluntarily withdrawn by the plaintiff, and only one resulted in a first-instance judgment. Regarding that fourth ruling, Innoviz believes that, given the scope of infringement found and the compensation amount, the overall litigation risk is manageable. The company is currently discussing the verdict with its Chinese legal counsel and carefully evaluating it to decide on the next steps for appeal and litigation strategy.
WeChat Desktop Screenshot Now Offers One-Click Blur Feature
According to the “WeChat Team” account, the desktop version of WeChat’s screenshot tool now supports a “one-click blur” feature. Currently, this capability can automatically detect and blur private information like profile pictures, names, and phone numbers.
Samsung Electronics: No Plans to Issue American Depositary Receipts
Samsung Electronics stated on July 14 that the company has not considered the possibility of issuing American Depositary Receipts (ADRs). Earlier media reports suggested that Samsung was in the early stages of exploring the idea, having held preliminary talks with banks, but no decision had been made to move forward. Sources said Samsung would closely monitor the volatile memory chip sector as it deliberates. Insiders noted that if the company decides to pursue a U.S. listing, its sprawling business structure and ongoing labor disputes could pose challenges for deal design.
