Core Viewpoint - Xiaomi announced that its "Xiaomi Call" service will cease operations on December 3, 2025, and all user data will be permanently deleted [1] Group 1: Service Termination - "Xiaomi Call" was initially a feature of the instant messaging app "Mi Chat," aimed at facilitating communication among Xiaomi fans [1] - The service will be discontinued as the company focuses on its core business, with "Mi Chat" having been phased out in February 2021 [1] - The decision to stop "Xiaomi Call" is attributed to the availability of numerous other apps that provide similar communication services [1] Group 2: Functionality and User Experience - "Xiaomi Call" is an audio and video calling software that allows users to enjoy high-quality calls and call transfers [1] - The app provided a seamless experience for switching between multiple devices during calls [1] - The termination of the app does not imply that Xiaomi lacks the capability to provide calling services [1]

Core Viewpoint - NIO's ET9 will feature a new "Jumping Escape Mode" designed for off-road conditions, set to launch with the Cedar 1.3.5 OTA update later this month [1] Group 1: Product Features - The "Jumping Escape Mode" is specifically designed for challenging terrains such as sand, mud, and deep snow [1] - The mode utilizes the vehicle's active suspension system to adjust the body height rapidly, optimizing wheel grip through vertical oscillation [1] - It also coordinates power output to assist the vehicle in escaping difficult situations [1]

本次港股上市，公司全球发售股份总数（绿鞋前）为8825万股，触发回拨机制后公开发售股份为1765万 股，国际配售股份7060万股，每股定价27.1港元，募资总额（绿鞋前）达23.9亿港元。 凤凰网科技讯 11月6日，文远知行正式在香港交易所挂牌上市，股票代码0800.HK。继在纳斯达克上市 成为全球Robotaxi第一股后，文远知行成为港股Robotaxi第一股，也是全球首家在"美股+港股"双重主要 上市的自动驾驶科技企业。 据官方介绍，文远知行成立于2017年，于2024年10月25日在纳斯达克证券交易所挂牌上市，成为全球 Robotaxi第一股、全球通用自动驾驶第一股。目前，文远知行旗下产品获得中国、阿联酋、新加坡、法 国、沙特、比利时、美国七国自动驾驶牌照，L4级别自动驾驶车队规模超过1,500辆，其中Robotaxi超 过700辆。 ...

Core Viewpoint - Apple emphasizes that the iPhone 17 Pro represents a significant upgrade over the iPhone 13 Pro and iPhone 14 Pro, highlighting improvements in imaging, performance, battery life, and design [1] Group 1: Product Features - The iPhone 17 Pro features a 6.3-inch display with an upgraded super ceramic panel, offering three times better scratch resistance compared to previous models [1] - The device is powered by Apple's A19 Pro chip, which provides a 40% increase in CPU speed and up to 2 times the GPU performance compared to the A16 chip in the iPhone 14 Pro [1] - The iPhone 17 Pro includes three rear cameras, each upgraded to 48 million pixels, and features a new long-focus lens with a maximum equivalent focal length of 200mm, achieving 8 times optical quality zoom, the longest in iPhone history [1]

Core Viewpoint - Xiaoma Zhixing officially listed on the Hong Kong Stock Exchange on November 6, 2025, marking the largest IPO in the global autonomous driving sector for the year and the highest fundraising in the AI field on the Hong Kong market for 2025 [1] Company Overview - Xiaoma Zhixing was established in 2016 and has obtained all necessary regulatory permits to provide autonomous driving services to the public in four major Chinese cities [1] - The company successfully went public on NASDAQ under the ticker "PONY" in November 2024, becoming the world's first Robotaxi stock [1] IPO Details - The company issued approximately 48.25 million shares in its Hong Kong IPO, fully exercising its issuance adjustment rights [1] - If the underwriters' overallotment option is fully exercised, the total fundraising could reach 7.7 billion HKD [1] Product Development - In April 2025, Xiaoma Zhixing launched three seventh-generation Robotaxi models developed in collaboration with Toyota, BAIC Group, and GAC Group [1] - The new generation models saw a 70% reduction in the production material costs of the autonomous driving kit compared to the previous generation, with an 80% decrease in the cost of the autonomous driving computing unit and a 68% decrease in the cost of solid-state LiDAR [1]

Core Insights - Apple plans to pay approximately $1 billion annually to utilize Google's advanced AI model with 1.2 trillion parameters to significantly revamp its Siri voice assistant [1][2] - After a lengthy evaluation, Apple has chosen Google's Gemini model over other third-party options like OpenAI's ChatGPT and Anthropic's Claude for Siri's technological upgrade [1] - The collaboration aims to enhance Siri's performance in processing complex data and understanding context, marking a significant leap from Apple's current 150 billion parameter model [1] Group 1 - The internal project, codenamed "Glenwood," is led by Mike Rockwell and Craig Federighi, focusing on repairing Siri using third-party models [2] - The new version of Siri, codenamed "Linwood," is expected to launch with iOS 26.4 in spring next year, integrating Google's Gemini model for intelligent summarization and task planning [2] - Apple's and Google's spokespersons declined to comment on the collaboration, while stock prices for both companies saw slight increases [2]

Core Viewpoint - The U.S. Supreme Court's hearing on the "Trump Tariff Case" raises doubts about the future of this key policy, with many justices questioning the legality of the tariffs imposed by the Trump administration [1][2]. Group 1: Legal Challenges - The U.S. International Trade Court ruled in May that Trump lacked the authority to impose "reciprocal tariffs" under the International Emergency Economic Powers Act, a decision upheld by the Federal Circuit Court in August [1]. - During the hearing, Chief Justice John Roberts emphasized that taxation is a core power of Congress, suggesting that the case should be bound by the "major questions doctrine," which requires explicit congressional authorization for actions with significant economic or political impact [1][2]. Group 2: Justices' Concerns - Justice Gorsuch questioned the government's claim that Congress had authorized Trump to impose tariffs, arguing that if Congress can delegate its constitutional power to impose tariffs, it could delegate other significant powers as well [2]. - Justice Barrett also inquired whether there is any historical precedent for using the term "regulate imports" to grant tariff authority, indicating skepticism about the administration's interpretation of the law [2]. Group 3: Market Reactions - Following the hearing, the probability of the Supreme Court supporting Trump's tariffs dropped sharply on the Polymarket platform from 40% to below 30%, even dipping below 20% during the hearing [3]. - Similarly, on the Kalshi platform, the probability for related contracts also fell quickly to 30% [6]. Group 4: Next Steps - It remains unclear when the Supreme Court will issue a ruling on the case, with potential waiting times ranging from weeks to months [8].

Market Overview - The U.S. stock market saw slight gains on Wednesday, with the S&P 500 index rising by 0.37% to 6796.29 points, the Nasdaq Composite increasing by 0.65% to 23499.8 points, and the Dow Jones Industrial Average up by 0.48% to 47311 points, amid sharp questioning of Trump's tariffs by the U.S. Supreme Court and a surge of buying in high-valuation tech stocks like AMD [1] Automotive Sector - Ford and General Motors, key indicators of the U.S. economy, both rose over 2% on Wednesday, while Caterpillar, an industrial equipment manufacturer, saw an increase of nearly 4% [3] AI and Tech Stocks - AI concept stocks experienced a turnaround, with AMD rebounding after an initial drop, and companies like Broadcom, Google, and Oracle also seeing gains. Micron Technology surged by 8.93%, reaching a new historical high, driven by rumors of rising HBM4 chip prices, while storage stocks Seagate and SanDisk both rose over 10% [4] - However, not all AI stocks rebounded; Supermicro fell over 11% after releasing its earnings report, and Arista Networks dropped nearly 9%, indicating a lack of breadth in the market [6] Major Stock Movements - Among major stocks, Nvidia fell by 1.75%, Apple rose by 0.04%, Microsoft decreased by 1.39%, Google-C increased by 2.41%, Amazon rose by 0.35%, Broadcom gained 2%, Meta increased by 1.38%, and Tesla saw a rise of 4.01% [7] Renewable Energy Sector - Solid Power's stock surged by 51.56% after a favorable earnings report, while SolarEdge rose by 28.91%, contributing to a strong performance in the battery storage and solar panel sectors [8] Chinese Stocks - The Nasdaq China Golden Dragon Index rose by 0.15%, with Alibaba up by 0.32%, JD.com increasing by 0.69%, and NIO rising by 1.82%. However, Pinduoduo fell by 1.87%, and several other Chinese stocks experienced mixed results [8] Earnings Reports - Arm's stock rose over 2% post-earnings, benefiting from increased interest in AI data center chip design. Qualcomm's stock fell over 4% despite better-than-expected earnings due to a $5.7 billion impairment charge related to U.S. tax changes. Robinhood's stock dropped nearly 2% after reporting third-quarter profits that exceeded expectations but fell short on cryptocurrency revenue [10] AI Developments - Apple is reportedly negotiating to pay Google $1 billion annually for a customized AI model, as it seeks to enhance its AI capabilities, particularly for an upgraded version of Siri [11] Legal Issues - Amazon has filed a lawsuit against Perplexity, seeking to prohibit the AI search startup from accessing its website through its AI browser, citing computer fraud and violation of service terms [12] Regulatory Concerns - The U.S. Federal Trade Commission has expressed concerns regarding Novo Nordisk's acquisition offer for the weight-loss drug developer Metacel, indicating potential violations of procedural laws for merger reviews, which led to a 2.46% drop in Metacel's stock [13]

Core Viewpoint - The successful IPO of Seres Group on the Hong Kong Stock Exchange marks a significant milestone, establishing it as the largest IPO for a Chinese car company and the largest globally in 2025, reflecting strong market demand and financial performance [2][13]. Financial Performance - In 2024, Seres achieved a revenue of 145.176 billion yuan, a remarkable increase of 305.04% year-on-year, with a net profit of 5.946 billion yuan, positioning itself among the few profitable electric vehicle companies globally [2][3]. - For the first three quarters of 2025, Seres reported a revenue of 110.534 billion yuan and a net profit of 5.312 billion yuan, representing a year-on-year growth of 31.56% [3][12]. - The gross margin for Seres' electric vehicles reached 28.9% in the first half of 2025, leading among domestic car manufacturers and surpassing some traditional luxury brands [3][4]. Market Position and Product Strategy - The successful sales of the Wanjie series, particularly the Wanjie M9, which sold 62,500 units in the first half of 2025, have significantly contributed to Seres' market presence, capturing 42% of total Wanjie sales [3][6]. - The average transaction price for Wanjie vehicles exceeds 400,000 yuan, providing a competitive edge in gross margin [4]. - Seres has established a comprehensive product matrix covering price ranges from 200,000 to 600,000 yuan, enhancing its market competitiveness [6]. Technological Innovation - Seres adheres to a "software-defined vehicle" technology strategy, developing leading-edge technologies such as the Magic Cube platform and Super Range Extension System, which bolster its competitive advantage [7][12]. - The company's innovative supply chain model and diverse high-end product line contribute to risk diversification and market expansion [5][12]. Global Expansion and Future Strategy - The net proceeds from the IPO will be allocated primarily to R&D (70%), overseas sales and charging network development (20%), and working capital (10%), indicating a focus on technological innovation and global expansion [10][12]. - The listing in Hong Kong is viewed as a new starting point for Seres' globalization efforts, aiming to replicate its success in broader markets [13].

Group 1 - Guizhou Moutai plans to repurchase shares with a total fund of no less than 1.5 billion yuan and no more than 3 billion yuan, with a maximum repurchase price of 1887.63 yuan per share [1] - This marks the third share repurchase since the company was listed, with previous repurchase plans announced in September 2024 and December 2024 [1] - The repurchased shares will be used for cancellation and reduction of the company's registered capital [1] Group 2 - For the 2025 interim profit distribution plan, the company proposes a cash dividend of 23.957 yuan per share, totaling 30 billion yuan [1] - The profit distribution plan requires approval from the company's shareholders' meeting [1] Group 3 - In the third quarter, Guizhou Moutai reported revenue of 39.064 billion yuan, a year-on-year increase of 0.56%, and a net profit of 19.224 billion yuan, up 0.48% [2] - For the first three quarters, the company achieved revenue of 128.454 billion yuan, a year-on-year growth of 6.36%, and a net profit of 64.627 billion yuan, increasing by 6.25% [2] - The stock price has shown weakness, with a cumulative decline of 5.1% since the beginning of the year, closing at 1420.08 yuan per share, with a total market value of 1,778.3 billion yuan [2]