Markets

Lobe Sciences announced the validation of its European Unitary Patent EP4117446 across 17 EU member states, covering its proprietary DHA-based composition for Sickle Cell Disease (SCD). This patent protects Altemia®, an innovative medical food designed to improve red blood cell integrity and address fatty acid deficiencies in SCD patients. The validation significantly strengthens Lobe’s intellectual property in crucial European territories, advancing its commercialization roadmap for Altemia®.

Jiangsu Times Core-Tech Semiconductor (AMS), China’s last unfinished 300mm wafer fab, has officially collapsed. The restructuring investor, Huaxinjiejian, defaulted on its obligations, terminating the revival efforts. AMS was declared insolvent, its equity written off. Previous shareholder AMT clarified its exit and continued support for AMS’s remaining procedures. The ambitious project, plagued by debt and operational issues, ultimately failed to restart, marking a significant blow to China’s semiconductor ambitions.

Mandopop superstar Jay Chou is reportedly poised to join Douyin, with his fan club confirming the establishment of a private account. Speculation suggests a deal in the high nine figures, a significant move from his previous platform, Kuaishou. This transition highlights the crucial role of music in short-video content creation and discovery.

Changxin Technologies (CXMT), a leading Chinese DRAM memory chip manufacturer, has begun its IPO process. Established in 2016, CXMT focuses on DRAM research, development, manufacturing, and sales. The company, valued at 150.8 billion yuan in its latest funding round, has secured significant backing from investors including the National Integrated Circuit Industry Investment Fund, Alibaba, and Tencent. CXMT’s IPO could make it the first “Storage Chip Stock” listed on the A-shares market, boosting domestic chip manufacturing.

New Zealand Energy Corp. is raising up to C$3 million through a private placement of common shares at C$0.18 each. The plan includes converting C$300,000 of debt from Charlestown Energy Partners and settling another loan with Vliet Financing B.V. by issuing shares. These transactions are classified as related-party dealings and require TSX Venture Exchange approval.

A three-year-old boy was fatally struck by a truck in Dali City, Yunnan. The driver claims the child was in his blind spot. Legal experts suggest the driver likely bears primary responsibility for failing to observe the road adequately, despite using signals and honking. The incident highlights the duty of care for drivers in pedestrian-heavy areas.

Meta is aggressively acquiring top AI talent, notably hiring Ruoming Pang, former head of Apple’s foundational models team. This strategic move, reportedly driven by a lucrative compensation package, highlights Meta’s drive to bolster its AI capabilities amidst intense industry competition. Pang’s departure may impact Apple’s AI team morale, as the company seeks to advance its AI initiatives.

Barton Gold is acquiring the Wudinna Gold Project for A$5.5 million. The deal involves A$500,000 cash and A$5 million in Barton shares. Cobra Resources’ shareholder vote is set for July 24, 2025, with strong initial support. This acquisition will leverage Barton’s central Gawler Craton infrastructure for future production growth.

OnlyFans, the adult content platform with over 300 million users, is reportedly for sale at an estimated $8 billion USD. Owner Leo Radvinsky is exploring divestment options, with analysts suggesting the valuation might be conservative despite the company’s strong financial performance and growth. Regulatory concerns may influence the sale price.

China’s men’s national football team opened the EAFF E-1 Championship with a 0-3 loss to South Korea. Observers criticized China’s performance, citing superior skill from South Korea and disappointing defensive tactics. China faces Japan next, with concerns about a repeat of their previous seven-goal defeat.