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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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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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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KINGBOARD HLDG (00148.HK) opened 10.94% lower today and hit an intraday low of HKD99.45. It last posted at HKD103, down 12.64%, with turnover of 32.7713 million shares, involving HKD3.453 billion.

KB LAMINATES (01888.HK) opened 9.38% lower today and hit an intraday low of HKD79.85. It last quoted at HKD82.5, down 16.79%, with turnover of 69.9869 million shares involving HKD5.992 billion.

Citi believed market concerns over excessive AI infrastructure construction may provide a good buying opportunity. According to Reuters, Meta Platforms, Inc. (META.US) is planning to sell excess computing capacity to external customers. This could trigger market concerns about AI infrastructure overbuild and weigh on the share prices of KINGBOARD HLDG and KB LAMINATES in the short term owing to market sentiment.

Nevertheless, the broker viewed both companies still have ample room for earnings upward revision in 2026-27, in light of further expansion of AI fabric capacity before end-2026 and potential certification of copper clad laminate (CCL) products by NVIDIA Corporation (NVDA.US) by mid-2027.
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Large model technology expert Sun Tianxiang has joined BIDU-SW (09888.HK) as head of the Basic Model Unit (BMU), while also joining Baidu Model Committee (BMC), Chinese news broke, citing sources.

Previously, Baidu had established the BMU and the Application Model Unit (AMU), with the AMU headed by Jia Lei.

According to introduction, Sun was born in 1997 and received his Ph.D. in Computer Science and Technology from Fudan University in 2024. During his doctoral studies, he interned at Amazon Shanghai AI Lab (2019-2020), Alibaba DAMO Academy (2022), and Shanghai AI Lab (2023).
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Microsoft Corporation (MSFT.US) plans to cut up to 2.5% of its workforce in the latest round of layoffs, with the plan potentially being announced as early as next week, Business Insider, citing sources, reported.

The layoffs are expected to affect thousands of positions, including sales and consulting roles, as well as positions in the Xbox gaming division.

As of the end of June last year, Microsoft had approximately 228,000 full-time employees.
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BYD COMPANY (01211.HK) delivered 557,100 EVs in 2Q26, Bloomberg reported. Although the figure subsided YoY, it may still be enough to topple Tesla, Inc. (TSLA.US), as Tesla is expected to report quarterly sales of about 396,500 vehicles next week.

BYD COMPANY first surpassed Tesla in sales in 4Q24 and maintained a noticeable lead last year. However, Tesla regained the lead in 1Q26, with sales exceeding BYD COMPANY by about 48,000 vehicles, as feeble demand in the China market weighed on BYD COMPANY's domestic sales.

As China's automobile market remains mired in an intense price war, BYD COMPANY is focusing on technology upgrades while aggressively expanding into overseas markets. About 43% of its second-quarter sales stemmed from overseas markets.
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