X.PIN

Just attended Huawei Developer Conference 2026 in person. Huawei's "Doom Slayer," Richard Yu (Yu Chengdong), is back — this time taking over the LLM. He unveiled Huawei's new openPangu 2.0 model and was unusually candid about the shortcomings. Huawei short on its own compute. And Huawei badly needs AI talent: "We can't match internet companies on salary — the people building LLMs with us run on belief and conviction." At Huawei, when Yu gets handed a business, it's because the fight is brutally hard. And he keeps winning — phones from scratch in 2011, the Seres car partnership in 2021. In June 2025, Pangu was alleged to be highly similar to Qwen-2.5, and the responsible exec left. Yu taking over means Huawei's models are behind and need to catch up fast.

@Ayer1049253 True. Ordinary people in China don't have the in depth knowledge about AI hallucination. I would say a large amount of people haven't heard of Gemini or Claude. It's honestly no surprise that this would happen.

@thexpin Clearly, in China, Doubao is gradually seen as a symbol of artificial intelligence and high technology by ordinary people. Especially, they lack the awareness or ability to distinguish whether the answer Doubao gives is truth or junk advertising.

@Theo1uck 最近刚开始做，谢谢支持啊！

@thexpin 看了微信公众号，才知道你们也有X啊🫡

@NAKXUS_ 嗯，最近才开始做，感谢您的支持😊

@thexpin 剛刷到公眾號才知道你們也有推啊

China's DRAM industry is in a listing frenzy and the window is deliberate. CXMT, China's largest memory chip manufacturer, just received approval for a 29.5 billion yuan ($4.35B) IPO on Shanghai's Star Market — on track to be the biggest mainland IPO of the year. Right behind it, Xi'an UniIC just completed its mandatory IPO tutoring phase, putting it firmly on the listing track. Earlier this year, GigaDevice and Montage both dual-listed in Hong Kong. Their shares are up 300% and 220% since their January and February IPOs respectively. The market appetite is real. The reason everyone is moving at once is simple: AI is driving a global memory supercycle. Demand for DRAM,the kind of memory that powers AI inference and training infrastructure is surging. Supply can't keep up. Revenue is spiking, valuations are elevated, and the IPO window is wide open.

SpaceX priced its IPO at $135 per share last week, targeting a $1.8 trillion valuation. The offering attracted over $250 billion in demand, which is roughly 3.5x oversubscribed. It may be the largest listing in history. Mainland Chinese investors got none of it. SpaceX explicitly barred participation from mainland China and Hong Kong, citing regulatory and compliance concerns. Even seasoned traders with Interactive Brokers accounts hit a wall, IPO access was restricted to UK-eligible clients only. So Chinese retail did the next best thing. A-share space sector stocks are up 7.5% this year on SpaceX hype alone. Sunway Communication, a Shenzhen-listed maker of RF components that brokerages describe as a Starlink ground terminal supplier, though its own filings only reference a "leading North American customer" is up 55.6% this year and hit a record high last month. Lens Technology, a Tesla supplier that disclosed shipping satellite receiver parts to a "North American major customer," picked up proxy status almost overnight. Western Materials, rumoured to supply rocket engine materials to SpaceX, hit a record high on speculation alone — management later confirmed only that its titanium products go to "overseas commercial-space industry chains." None of this is direct SpaceX exposure. Most of it is vibes and supply chain speculation dressed up as thematic investing.

In January 2026, Alibaba's subsidiary and CNNP set up a JV — China Nuclear (Xiangshan) Nuclear Energy Co., $37M registered capital — to explore commercial direct-supply of nuclear power to data centers. First-ever tech × nuclear-SOE capital tie-up in China.

The current issue being pricing and supply model. A source at a state-owned nuclear company said that if they are forced to sell their nuclear power at the standard grid price, it won't be any cheaper than regular electricity, and they will lose their competitive edge.

Alibaba approached China's state-owned nuclear giants about building small modular reactors to power its Renhe data center in Hangzhou.

Multiple Microsoft employees took to social media this week claiming the company has laid off between 200 and 400 Azure R&D staff in Beijing and Shanghai. Affected staff received an email notification, with a signing deadline of June 11 and a last working day of July 6. This is the third round of cuts in China in two years. It's also part of a much larger pattern: since 2025, Microsoft has eliminated over 24,000 jobs globally across multiple restructuring rounds, with Azure repeatedly in the crosshairs. The severance package is N+7 at maximum — relatively generous. Some employees were quietly offered the option to relocate to Canada. Most just got the email. Microsoft's official line: "We remain focused on serving customers and growing our business globally." Translation: the China R&D headcount no longer fits the model. Two dynamics are likely at play here. First, Microsoft is under pressure from both sides — tightening US regulations on data flows to China, and tightening Chinese regulations on foreign cloud operators. Running a large R&D team in that environment is expensive and increasingly complicated. Second, with Azure's global growth slowing, cost discipline is back in fashion. What's notable is what's being cut and what isn't. Azure R&D in China — gone. DevDiv, Microsoft AI teams in Shanghai and Suzhou — untouched. That's not a China exit. It's a very deliberate pruning of the most regulation-sensitive part of the operation.

Alibaba, Baidu, NIO, and WuXi AppTec all woke up on the same US Defense Department blacklist today. All four fired back immediately: "We're not military companies. This is wrong. We'll sue if we have to." They're probably right on the legal merits. Alibaba runs cloud and e-commerce. Baidu does search and autonomous driving. NIO makes electric cars. WuXi AppTec does pharma research. The stretch required to call any of them a "Chinese military company" is significant. And technically, this isn't even a sanctions list. It doesn't freeze assets, block transactions, or stop anyone outside the Department of Defense from doing business with them. Stock trading is unaffected. Operations continue. So why does it matter? Because the label sticks. Institutional investors get nervous. Partners run compliance checks. Banks quietly reassess risk. No regulator needs to act — the designation alone does the work. The US doesn't need sanctions to do damage. Sometimes a list is enough.

DeepSeek just posted a new job: IDC Design & Planning Engineer — covering the full lifecycle of data center buildouts, from site selection and layout to construction drawings and supporting infrastructure. Core role for whoever leads the early-stage technical work on a new facility. The listing is open to candidates with no minimum experience, with a separate senior track for 7+ years. The pitch: you'll help plan and build infrastructure scaling from MW to GW. Translation: DeepSeek, like OpenAI, is going to build its own data centers.

Apple is preparing to roll out its first foldable iPhone! We now know that Apple's iOS 27 dev beta includes foldable-UI code and tooling. Meanwhile, China's supply chain is also lining up. The companies include: 🔹 Lens Technology (300433): UTG glass, PET film, 3D cover glass (leading share) 🔹 Lingyi iTech (002600): folding supports/mid-frames, hinge modules, VC heat plates 🔹 JWELL (300709): MIM hinge parts 🔹 Dongshan Precision (002384): chairman says foldable could lift Apple-segment margins next year 🔹 Zhuozhao Dianjiao (920026): early in the chain, small orders so far The components are reportedly shipping from Q2.

Smart glasses used for taking stealth shots of flight attendants have spiked controversy in China. On June 2nd, Ms. Yun, a smart glasses user, noticed that someone was using Rokid AR glasses to secretly take photos of female flight attendants. These photos were uploaded directly to Rokid's official app. Search the phrase "flight attendant" in the app and you'll find a large number of these photos. The method behind this was shocking. E-commerce platforms openly sell "shutter stickers" that block the LED indicator light and mute the shutter sound. One store alone has sold over 5,000 of these stickers. Meta has faced similar issues with its smart glasses. Former WSJ reporter Joanna Stern demonstrated that when the LED light is disabled, taking photos with these glasses becomes almost completely unnoticeable. In response, Rokid has banned the accounts involved and cleared the images from its platform. The company also stated that it has requested e-commerce platforms to take down the listings selling these stickers.

@elonmusk @grok What was the main focus of this interview?

SpaceX AI Satellites

DeepSeek just took its first bite out of the US enterprise market, hitting #1 on Ramp’s leaderboard for first-time corporate buyers. But it’s still early days. As of April, DeepSeek’s adoption rate is just 0.1%.

The price of humanoids in China just fell off a cliff! Unitree is facing a massive margin squeeze. Their avg. selling price keeps dropping: 🔹2023: $81.6k 🔹2024: $35.8k 🔹2025 (Q1-Q3): $23k Meanwhile, their unit cost only fell from $10k to $8.5k. Bumi, a fierce competitor in the humanoid market, just launched their cosumer-level robot at $1.4k after subsidies. The robot stands at 3′1″, aimed at education and companionship. Nowadays, core components like servo motors and reducers are mainly domestically manufactured. Robots are borrowing heavily from EV and smartphone supply chains, with batteries and vision sensors all repurposed from mature production lines.

By May, electric and hybrid cars made up nearly half car sales in Australia. Also, BYD snagged the No.2 spot after doubling its market share in one year, though Toyota still leads ahead.

China Steals the Crown from Japan in Australia's Auto Market. In April, around 36K Chinese cars arrived in Australis, officially beating out Japan's 29K. This pushes the total imports from China past the 100K mark this year so far, up 51% YoY.