Markets

Portage Biotech Inc. (PRTG) announced its continued listing compliance on the Nasdaq Capital Market, as confirmed by the Nasdaq. The immuno-oncology firm focuses on developing novel biologics to harness the immune system against cancer. This release contains forward-looking statements subject to risks and uncertainties, with actual results potentially differing from projections.

At the 2025 Summer Davos, JD.com founder Liu Qiangdong confirmed he will attend a Jiangsu City Football League (Su Chao) match. JD.com, a strategic league partner, has invested heavily in Suqian, Liu’s hometown. The company’s commitment includes event marketing, public fitness, and broadcast production. The Suqian team, currently in fifth place, is playing on June 29th, with expectations of Liu’s attendance adding further interest. JD.com’s investment in Suqian exceeds RMB 20 billion.

ByteDance, TikTok’s parent company, fired two former employees and withheld bonuses for violating ethics policies. An internal memo revealed a conflict of interest involving undisclosed relationships and false statements during the investigation. The ex-wife of one employee publicly thanked ByteDance for its handling of the situation, which stemmed from social media allegations concerning infidelity and abuse of power.

Xiaomi’s upcoming YU7 electric vehicle is generating intense market anticipation. Pre-emptive rental offers are appearing on secondary platforms, with daily rates potentially reaching 6,000 yuan, exceeding those of luxury cars like the BMW M5 and Bentley Flying Spur. Early adopters are anticipating high demand, mirroring the SU7 launch where initial rental prices were also high. However, experts predict significant early price volatility.

BioNTech’s Q1 2025 revenue was €182.8 million, with a net loss of €415.8 million. The company is focusing on its oncology pipeline, including BNT327 and mRNA cancer immunotherapies. It’s also preparing for a variant-adapted COVID-19 vaccine for the 2025/2026 season and confirmed its full-year 2025 financial guidance.

Xiaomi is preparing for a major expansion, with its upcoming YU7 SUV set to be a primary focus. The new vehicle is anticipated to launch soon, assembling at an existing factory and the forthcoming second phase of its manufacturing base. Internal sources report increased activity, and suppliers are working extra hours. Despite potential concerns, CEO Lei Jun expects both the YU7 and SU7 sedan to thrive, with early price speculation circling $25,000. Exhibition model deliveries are already underway.

At CVPR 2025, Kuaishou’s Kling AI division presented advancements in video generation and world model research. Their work focuses on improving model architectures, enhancing user control, establishing robust evaluation methods, and developing multimodal understanding. Key innovations include efficient scaling laws, novel Mixture of Experts architectures, a unified framework for spatiotemporal control, and frameworks for interactive and controllable video creation. The team’s research, highlighted across seven papers, aims to significantly advance video creation capabilities.

Helium One Global announced an independent CPR on its southern Rukwa Helium Project in Tanzania, conducted by Sproule ERCE. The report assessed contingent and prospective resources in the 480km² mining license area. Key highlights include 295,797 Mscf 2C Gross Helium Contingent Resources at Itumbula. The CPR validates the project and boosts confidence in the potential for a significant impact in a supply-constrained market. A phased development plan, starting with an Early Production System, is outlined.

According to China’s Ministry of State Security, the CIA’s intelligence network in China has suffered significant setbacks. The Ministry accuses the CIA of widespread espionage and attempts to undermine China, portraying its recent recruitment efforts as clumsy and ineffective. The statement further implies the CIA is using the “China threat” narrative to secure funding amid internal challenges and organizational losses.

Xiaomi CEO Lei Jun expects the SU7 sedan to remain a top seller even after the YU7 SUV launch. Jun downplays price speculation for the YU7, highlighting its advanced features like long range, LiDAR, NVIDIA’s Thor chip, and “sky screen,” suggesting its value will justify the cost. He anticipates distinct consumer appeal for both models, expressing confidence in the SU7’s continued success.