CHANGSHA, China, July 3, 2026 /PRNewswire/ -- Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion") recognized five technological achievements in hybrid power and electric drive at its 7th Science and Technology Innovation Conference on June 16, highlighting its push to accelerate the application of new-energy technologies across construction machinery, agricultural machinery, and mining equipment.

Among the recognized achievements were an ultra-high-horsepower hybrid tractor, electric-drive and intelligent control technologies for large equipment, distributed electric-drive technology for mobile cranes, series-hybrid, all-electric-drive technology for combine harvesters, and a patent portfolio covering hybrid systems in new-energy high-horsepower tractors. Together, they reflect Zoomlion's broader new-energy capabilities in developing greener, more intelligent equipment across business segments.

A key part of this effort is Zoomlion's dedicated new-energy technology development platform, which supports the group through electric-drive system architecture, customized development of core components, and technical collaboration with equipment business units. Zoomlion has built a new-energy product portfolio spanning construction, mining, and agricultural machinery, covering battery-electric, hybrid, and hydrogen fuel cell powertrains, as well as battery-swapping and plug-in charging solutions. The Company developed nearly 60 new-energy products in 2025 and currently offers 240 such products. Its capabilities span complete equipment solutions, batteries, motors, controls, and fuel cell systems, supported by in-house lithium battery and hydrogen fuel cell development and testing.

Among the recognized achievements, new-energy agricultural machinery provides a representative example. Zoomlion's hybrid control technology has already been widely applied in new-energy tractors and wheat harvesters, helping to reduce fuel consumption through more efficient energy management. Zoomlion's hybrid wheat harvester has delivered approximately 30% fuel savings, while its hybrid tractor has achieved around 8%. Chassis-by-wire technology has also been deployed in Zoomlion's unmanned mining trucks, supporting deployment at scale and safe braking under demanding site conditions through a three-level braking architecture combining retarder braking, electric braking, and mechanical braking.

Ou Biao, Director of the Vehicle Control Institute at Zoomlion New Energy Technology Company, said: "For our team, this recognition is both a validation of the engineers' work and an encouragement to keep going. Developing new-energy products requires repeated field testing in mines, farmland, and other demanding operating environments. These honors motivate us to stay close to customer needs and keep pushing through difficult technical challenges."

Zoomlion is committed to continuing the development of new-energy equipment and bringing its engineers closer to customers worldwide to better understand local needs.

Samsung Electronics is actively negotiating plans to raise DRAM prices by as much as 20% QoQ in 3Q, aiming to maximize group profits as supply shortages triggered by AI infrastructure investment spread across all product lines, according to foreign media reports. SK Hynix is also reportedly seeking a similar increase.

Samsung has taken the most aggressive approach in price hike negotiations due to its higher proportion of DRAM production, sources said. Samsung's average selling price for DRAM swelled by more than 90% QoQ in 1Q26, while prices were estimated to rise another 50% to 60% in 2Q26.

Spurred by the news, Samsung shares in South Korea closed up 8.22% at KRW309,500, while SK Hynix rallied 10.88% to KRW2.425 million. In Hong Kong, XL2CSOPHYNIX (07709.HK) closed up 6.57%, while XL2CSOPSMSN (07747.HK) also leaped 11.59%.
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Shanghai recently launched a special rectification campaign to regulate the order of online information dissemination in the automotive industry.

With a view to strengthen the multi-party communication and consultation mechanism and explore collaborative governance paths, the Cyberspace Administration of the Shanghai Municipal Committee, together with multiple departments, jointly held yesterday (2nd) a four-party forum involving the government, associations, automakers and platforms.

Platform companies including Xiaohongshu, BILIBILI-W (09626.HK), Douyin and BIDU-SW (09888.HK) introduced measures to reinforce the review of automotive-related information content and handle enterprise-related infringement information.

Representatives from the Shanghai Auto Parts Industry Association as well as SAIC Motor, BYD COMPANY (01211.HK), Tesla, Inc. (TSLA.US), NIO-SW (09866.HK), XPENG-W (09868.HK), and LI AUTO-W (02015.HK) put forward opinions and suggestions on curbing industry disorder and safeguarding corporate rights and interests.
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LENS (06613.HK) said on an investor interaction platform that the company has jointly developed and validated 22-layer glass core substrates together with North American and South Korean chip foundry and advanced packaging clients. Validation by the South Korean client has largely been completed, while validation work with the North American client is progressing smoothly.

The company is also advancing construction of a dedicated TGV glass substrate facility with a floor area of 30,000 ping, which is expected to commence production before year-end to match customer demand. The glass substrate-related business has not yet generated revenue and future prospects remain uncertain.

When asked about supplies for Apple Inc. (AAPL.US)'s foldable smartphones, LENS responded that the company provides structural components including UTG ultra-thin flexible glass, glass support plates, PET films and 3D glass cover plates for foldable smartphones. Shipments and deliveries to major clients began at the end of 2Q.
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In response to recent market concerns over an oversupply of AI computing power, Abulikemu-Abulimiti (Amu), Vice President of LENOVO GROUP (00992.HK) and Chief Strategy Officer of Lenovo China, said that whether in China or overseas markets, demand for AI computing power still has substantial room for growth in the long run, and there is no oversupply situation, China Business Network reported.

He opined that the number of mature leading AI products on the consumer side (C-end) is limited at the moment, while the commercialization potential for enterprise-focused (B-end) applications has yet to be fully unleashed. Historically, growth dividends from productivity revolutions have been driven by the industrial sector, suggesting enormous long-term demand for computing power. In addition, the current AI industry chain faces issues including excessively strong pricing power on the supply side and an imbalance in the supply-demand cycle.
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Michael Burry, the real-life counterpart of the protagonist in the movie 'The Big Short' and a US hedge fund manager, said he shorted Micron Technology, Inc. (MU.US) at USD1,051.87 per share. Overnight (2nd), Micron plunged 5.5% to USD975.56.

Burry said South Korea's announcement last week of a major semiconductor capital expenditure plan marked the beginning of a downcycle in the semiconductor industry. He expects the semiconductor industry to undergo a correction of about 30% and believes valuations of companies related to AI infrastructure have become grossly overvalued.
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New label ORCA to Tap Into Asia's Fast-Growing Entertainment Market With New International Music Act

BEIJING, July 3, 2026 /PRNewswire/ -- Damai International, the international arm of Damai Entertainment (HKEX: 1060), a subsidiary of Alibaba Group, on Friday introduced ORCA (Original Creative Artists), its new artist development and content production label, and launched a worldwide artist initiative, "All My Anecdotes Global Audition".

Launched by ORCA in partnership with entertainment label All My Anecdotes, the initiative marks a major step in Damai International's expansion into artist development and the global entertainment market. It will also serve as a primary talent pipeline for ORCA's future artist projects.

"This program represents an important step in our global talent development strategy," said Walter Zheng, president of Damai International. "We aim to discover promising talent worldwide and provide them with the resources, training and opportunities they need to thrive. By leveraging Alibaba's ecosystem and ORCA's creative capabilities and extensive experience in developing international artists, we are building a platform that empowers talent to grow and pursue opportunities on the global stage."

To mark the launch, ORCA released a brand trailer on Friday featuring Audrey Lane, a dancer and choreographer best known as a member of Jam Republic, the runner-up crew on Mnet's "Street Woman Fighter 2." Known for her distinctive movement style and multicultural background, Audrey has recently expanded her international profile through collaborations with rising K-pop act MEOVV, viral dance content alongside KATSEYE's Megan, and a special guest appearance with Chinese pop star Liu Yuxin on the Chinese variety show "Sisters Who Make Waves 2026."

In the trailer, Audrey stars alongside singer-songwriter DANY, whose introspective sound complements her expressive movement. Together, they create a cinematic blend of music and dance that reflects the creative vision of ORCA and All My Anecdotes, celebrating the idea that every shared moment, inspiration and encounter can become tomorrow's nostalgia.

The audition is open to aspiring performers worldwide who are passionate about the stage and pursuing a career in entertainment. There are no restrictions on gender, age or nationality, and there is no fixed number of participants to be recruited. Candidates will be evaluated based on their talent, potential and overall suitability.

Selected candidates will join ORCA's existing artist roster, which includes Audrey and DANY, and receive comprehensive training in performance, music production and stagecraft from experienced industry professionals. Each artist will follow a personalized development plan tailored to their individual strengths and career goals. ORCA ultimately plans to debut a new international music group drawn from the program.

"ORCA is about creativity, artistry and thinking beyond borders," said Daryl Wang, senior vice president of music business at Damai International. "We're excited to have artists like DANY and Audrey Lane involved in this program. For those who join this journey, this is more than an audition. It is an opportunity to learn from and collaborate with established creators, develop alongside some of the industry's most promising emerging talent and become part of a creative community with global reach."

The global audition will run from July 3 to Aug 3. Applications can be submitted through the official All My Anecdotes website (https://www.ama-official.com/cn/apply/) or by email to [email protected]. Applicants can also follow @allmyanecdotes and @orcaartists on Instagram for the latest audition updates.

Damai International is the international arm of Damai Entertainment, focused on expanding its live entertainment ecosystem worldwide. Its businesses span live event ticketing, event management and execution, artist management, content production, venue services and more. In November 2025, it launched MAISEAT, its global ticketing platform, which has since expanded into multiple markets.

About Damai Entertainment

Damai Entertainment is a technology-driven company delivering immersive, real-world entertainment experiences. Its diverse ecosystem spans film production, live events, IP commercialization, TV series, artist management, and ticketing platforms. Anchored in its dual strategic pillars of entertainment and AI, Damai is committed to creating unparalleled live, interactive, and immersive experiences for audiences around the world.

Media Contact
[email protected]

Meta Platforms, Inc. (META.US) CEO Mark Zuckerberg admitted at an internal staff meeting that the company's comprehensive restructuring had shortcomings, and said progress in AI agent systems had not met his expectations, Reuters reported.

In May, Meta slashed about 10% of its global workforce and reassigned around 7,000 employees to AI-focused teams, moves that triggered employee backlash.
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BEIJING, July 2, 2026 /PRNewswire/ -- Baidu, Inc. ("Baidu" or the "Company") (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), a leading AI company with strong Internet foundation, today announced that the record date for the purpose of determining the eligibility of the holders of its ordinary shares, par value US$0.000000625 per share (the "Ordinary Shares"), to vote and attend its forthcoming extraordinary general meeting of shareholders (the "General Meeting") will be as of close of business on Friday, July 17, 2026, Beijing/Hong Kong time (the "Ordinary Shares Record Date"). In order to be eligible to vote and attend the General Meeting, all valid documents for the transfers of shares accompanied by the relevant share certificates must be lodged with the Company's Hong Kong branch share registrar and transfer office, Computershare Hong Kong Investor Services Limited, Shops 1712–1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Hong Kong, not later than 4:30 p.m. on Friday, July 17, 2026, Beijing/Hong Kong time. All persons who are registered holders of the Ordinary Shares on the Ordinary Shares Record Date will be entitled to vote and attend the General Meeting.

Holders of the Company's American depositary shares (the "ADSs") representing the Ordinary Shares may not attend or vote at the General Meeting. Holders of ADSs as of close of business on Friday, July 17, 2026, New York time (the "ADSs Record Date"), will be able to instruct The Bank of New York Mellon, the holder of record of Ordinary Shares represented by ADSs, as to how to vote the Ordinary Shares represented by such ADSs. The Bank of New York Mellon, as depositary of the ADSs, will endeavor, to the extent practicable and legally permissible, to vote or cause to be voted at the General Meeting the amount of Ordinary Shares represented by the ADSs in accordance with the instructions that it has properly received from ADS holders. Please be aware that, because of the time difference between Hong Kong and New York, if a holder of ADSs cancels his or her ADSs in exchange for Ordinary Shares on Friday, July 17, 2026, New York time, such holder of ADSs will not be able to instruct The Bank of New York Mellon, as depositary of the ADSs, as to how to vote the Ordinary Shares represented by the cancelled ADSs as described above, and will also not be a holder of those Ordinary Shares as of the Ordinary Shares Record Date for the purpose of determining the eligibility to attend and vote at the General Meeting.

Details including the date and location of the General Meeting will be set out in the Company's notice of General Meeting to be issued and provided to holders of its Ordinary Shares as of the Ordinary Shares Record Date and holders of its ADSs as of the ADSs Record Date together with the proxy materials in due course.

About Baidu

Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on Nasdaq under "BIDU" and HKEX under "9888". One Baidu ADS represents eight Class A ordinary shares.

Renowned investor Michael Burry, the inspiration behind the film "The Big Short", radically scaled up his short positions against the AI sector, according to The Wall Street Journal.

He disclosed his latest bearish bets, including TESLA, INC. (TSLA.US), CATERPILLAR INC. (CAT.US), semiconductor manufacturer APPLIED MATERIALS, INC. (AMAT.US), and an ETF tracking chipmakers, namely iShares Semiconductor ETF (SOXX.US).

These positions are part of his ongoing short-selling strategy over recent months, aimed at profiting from a potential cooling of the AI boom. Burry wrote on his Substack on Tuesday (30th) that he believes this is the beginning of the end.

He has consistently criticized the stock market's AI frenzy, arguing that investors have rushed blindly into pushing up the share prices of industry giants while ignoring potential risks. Burry gained a large group of online followers after accurately shorting the US housing market during the 2008-09 financial crisis.

One of his latest bets involves buying put options on an ETF tracking a semiconductor index. Constituents of the index include MICRON TECHNOLOGY, INC. (MU.US) and ADVANCED MICRO DEVICES, INC. (AMD.US). He also targeted CATERPILLAR, noting that he had previously profited from taking long positions in the company. Burry also increased his months-long bearish position against NVIDIA CORPORATION (NVDA.US).
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