Markets

Gree Electric’s WeChat account renaming sparked speculation, but the change is related to launching an online “Dong Mingzhu Healthy Home” store. Tencent’s naming policies necessitated the shift. This follows the success of “Dong Mingzhu Healthy Home,” leveraging Dong Mingzhu’s personal brand to boost market awareness and validate Gree’s brand strategy. Gree plans to establish 10,000 such stores nationwide. Dong Mingzhu emphasizes her contribution to Gree’s success.

Kemper Corporation (KMPR) announced a $150 million accelerated share repurchase (ASR) agreement with Goldman Sachs, part of its $550 million authorization. The insurer believes shares are undervalued and the ASR demonstrates confidence in its business. Kemper will pay Goldman Sachs $150 million on August 14, 2025, receiving an initial 2,279,203 shares. The final number depends on the volume-weighted average price of Kemper’s stock. The ASR is expected to conclude within three months. Kemper is a specialized insurer with $13 billion in assets, serving 4.7 million policies.

Gold Reserve Ltd. is embroiled in a legal battle over the sale of PDV Holding, Inc. (PDVH), parent of CITGO. After a recommendation for Gold Reserve’s subsidiary to acquire PDVH for $7.382 billion, Red Tree Investments introduced a competing bid from Amber Energy. The Special Master paused proceedings, citing unauthorized disclosure, to reassess. Gold Reserve argues the Amber Energy bid is deficient and violates bidding procedures. The Court rescheduled a status conference amid the ongoing disputes, anticipating further arguments requiring judicial resolution.

Snail, Inc. unexpectedly postponed its Q2 2025 earnings conference call, citing “scheduling conflicts.” Analysts speculate this could be due to a pending strategic partnership/acquisition or disappointing preliminary results. The postponement has negatively impacted Snail, Inc.’s stock, causing shares to dip in after-hours trading. Investors are awaiting a rescheduled date and further clarification, anticipating increased scrutiny of the Q2 results for insights into the company’s future.

*Fortune* China released its “40 Under 40” list, recognizing promising young Chinese business leaders. DeepSeek founder Liang Wenfeng, previously known for High-Flyer Quant, tops the list, followed by leaders from Unitree Robotics, Pop Mart, Insta360, and Seres Group. DeepSeek’s emergence in the AI sector highlights China’s push for AI dominance. The list reflects a trend towards AI, healthcare, green technology, new consumerism, and intelligent manufacturing, mirroring China’s strategic priorities.

Allegiant Air announced on August 13, 2025, it’s expanding its network to Atlantic City, New Jersey, adding four new routes to Florida destinations: Fort Lauderdale, St. Petersburg, Sanford and Punta Gorda. Flights begin in December 2025 and February 2026, with introductory one-way fares starting at $39. The expansion strengthens Allegiant’s leisure travel emphasis, providing affordable options for travelers. Allegiant has also extended its flight schedule through May 2026.

Elon Musk is accusing Apple of App Store bias, alleging they favor OpenAI’s ChatGPT over his AI chatbot, Grok. Musk threatened legal action, claiming antitrust violations. However, Community Notes challenged his assertions. This dispute highlights Musk’s ongoing rivalry with OpenAI’s Sam Altman and his historical grievances with Apple. Despite the initial fury, Grok’s recent App Store ranking climb and Musk’s softened stance suggest a possible de-escalation, though his past conflicts and ambition indicate this feud may persist.

bioAffinity Technologies (BIAF, BIAFW) secured financing through securities purchase agreements with investors, involving the sale of Series B Convertible Preferred Stock and warrants to purchase common stock in a private placement. They also reached a warrant exercise agreement, generating $253,000. These transactions aim to raise approximately $1.2 million for working capital and general corporate purposes, supporting the development and commercialization of their CyPath® Lung test, a non-invasive early lung cancer detection method with reported 92% sensitivity. WallachBeth Capital LLC acted as placement agent.

NVIDIA’s H20 AI chip, designed for the Chinese market, faced export restrictions but received conditional clearance in mid-July, requiring a 15% revenue remit to the U.S. government. Despite this, H20’s future in China is uncertain. NVIDIA defends its H20 exports, emphasizing the U.S.’s need to compete with China in AI and avoid repeating the 5G situation where it lost its leadership position. They believe U.S. AI can become the global standard if the U.S. actively participates in the competition.

Tencent’s Q2 earnings report reveals a surge in gaming revenue, driven by the continued success of Honor of Kings. Domestic game revenue rose 17% year-over-year to RMB 40.4 billion, with Honor of Kings being a key contributor. AppMagic data shows it as the sole mobile game exceeding $1 billion in H1 revenue. Honor of Kings, celebrating its 10th anniversary, has topped global mobile game revenue for three years and shows impressive growth. Overall game revenue increased by 22%, and international game revenue also surged by 35%, marking the fourth consecutive quarter of record highs.