YMTC moves closer to Shanghai IPO
Chinese memory-chip manufacturer Yangtze Memory Technologies Co. Ltd. (YMTC) has completed its pre-IPO tutoring work, clearing a crucial hurdle to listing on Shanghai’s STAR Market. Information published Wednesday on the China Securities Regulatory Commission’s website showed that Citic Securities and China Securities acted as YMTC’s tutoring brokerages, responsible for conducting due diligence, performing financial audits, resolving pre-listing compliance issues and preparing listing materials.
Unitree shares decline as founder flags limits of humanoid robots
Shares of newly listed Unitree Robotics plunged 16% on their second day of trading after founder Wang Xingxing warned that the company’s humanoid robots are not yet ready for large-scale factory deployment. Wang said at the World Robot Conference on Thursday that robots remain less efficient than humans at simple assembly tasks and lack the generalization ability to adapt to new assignments without being retrained. The reality check cooled a market frenzy that had pushed the company’s market capitalization to about 445 billion yuan ($66 billion) during its debut on the Shanghai STAR Market just one day earlier.
Game Science unveils gameplay demo for Black Myth: Zhong Kui
Game Science on Thursday released a 15-minute gameplay demo for Black Myth: Zhong Kui, the second installment in its Black Myth series, marking the first time the protagonist’s combat and certain story clips have been revealed. The series’ first game, Black Myth: Wukong, achieved massive domestic and international success. Following its release in August 2024, it sold more than 10 million copies globally within three days and over 30 million copies in eight months, making it one of the fastest-selling games in history.
MiniMax launches new AI-native creation platform
MiniMax Group Inc. on Thursday launched MiniMax Design, a new-generation AI-native creation platform. The company said that the platform can understand user objectives, break down tasks and call upon corresponding models and skills to complete the entire process from material processing, generation and editing to final delivery. MiniMax’s multimodal video model H3 provides the new capability foundation for MiniMax Design, making it particularly suitable for video editing and other scenarios with higher demand for comprehension, control and modification.
