Markets

After 22 years, the PNG image format is getting a major upgrade with version 3.0. The revamp introduces APNG for animated images, HDR support for enhanced visuals, and Exif metadata integration. This update builds on the APNG format pioneered by Mozilla, offering dynamic capabilities while retaining PNG’s core structure. The new specification signifies a move toward modern image display and functionality.

Julong Holding Limited (JLHL) priced its IPO at $4.00 per share, raising approximately $5.0 million through the offering of 1,250,000 Class A ordinary shares. JLHL, trading on Nasdaq as “JLHL” from June 26, 2025, provides intelligent integrated solutions for various properties in China. US Tiger Securities, Inc. acted as the sole book-runner. The offering is expected to close on June 27, 2025.

Google DeepMind has introduced Gemini Robotics On-Device, an offline AI model for robots. This VLA model processes visual data, language, and actions on-device, enabling real-time responses to human commands. Designed for two-armed robots, it interprets natural language instructions. This offers advantages in critical scenarios by removing reliance on cloud connectivity. The model is built on Gemini 2.0 and competes with rivals like Nvidia and OpenAI in the robotics market.

A boating accident on Lake Tahoe claimed eight lives after a private vessel capsized during a sudden storm. The boat, carrying a family group, was caught in rapidly escalating winds and waves, leading to the tragedy. Among the deceased was a Global Strategic Sourcing Lead from a major food delivery company. The incident is the deadliest boating accident in California since 2019. Lake Tahoe, known for its unpredictable weather, is the largest alpine lake in North America.

Streamlabs launched its Sponsorships platform, offering streamers full control and payouts, with 100% of earnings going to creators during its initial phase. This platform simplifies brand collaborations, providing creators with guaranteed base pay, bonus potential, a dedicated dashboard, and transparent terms. It aims to democratize sponsorships by removing traditional barriers and providing brands with a direct way to engage with creators across various categories.

Ant Group launches “AQ,” an AI health app leveraging a medical large language model to offer comprehensive healthcare services. AQ analyzes symptoms, interprets medical reports, identifies skin conditions based on images, and provides health advice. The app connects users with doctors, offers 24/7 AI specialist avatars, supports voice calls, and integrates with health devices for personalized health records and insights. It prioritizes data privacy and security and is built on a foundation of extensive medical data and professional expertise.

A content creator sparked a debate by suggesting China is technologically advanced, operating in 2050 despite the current year being 2025. This was fueled by a video showcasing Beijing’s “tidal lane” system, where automated vehicles reconfigure roadways to add lanes during peak traffic hours. The engineering marvel has impressed global viewers, with many citing China’s technological prowess as remarkably advanced.

Reitar Logtech (RITR) is spinning off its logistics automation segment to foster growth and increase shareholder value. The spin-off will create a new entity focusing on smart warehousing, hardware/software solutions, and data-driven technologies. This strategic move aims to attract partnerships and capital, solidifying Reitar’s leadership in smart logistics and advancing its “MIS” strategy of Mergers & Acquisitions, Integration, and Spin-offs.

A social media influencer was ordered to pay RMB 300,000 (approximately $42,000 USD) to a smartphone manufacturer for defamation, a ruling upheld on appeal. The case involved unsubstantiated claims, forcing the influencer to retract statements, apologize publicly, and remove defamatory content. The manufacturer emphasized constructive criticism while warning against disparagement, highlighting the legal risks of spreading misinformation in the tech industry.

Unscrupulous vendors are exploiting anxiety surrounding college applications by repackaging free AI-generated reports from Quake as premium services. These vendors charge hundreds of dollars for reports that Quake offers free of charge. Quake’s AI, which provides comprehensive college application guidance, has seen over 3 million reports generated, leading to long wait times due to high demand. The report generation utilizes a large language model with search, report generation, and recommendation capabilities, simulating college counselor insights.