Markets

Xiaomi’s Vice Chairman, Lin Bin, showcased his advanced driving training certification, highlighting its positive impact even after decades of driving experience. The training covered emergency maneuvers, low-friction driving, slalom, and a challenging gymkhana course. This initiative aligns with Xiaomi’s plan to offer free advanced training to vehicle owners, aiming to improve road safety and driver awareness.

POP MART Korea has temporarily stopped in-store sales of LABUBU plush toys and keychains due to safety concerns and a commitment to premium service, following a similar move in the UK. This follows the product’s growing global popularity, with reports of high demand and celebrity endorsements. The company aims to resume sales with improved service and has apologized for the inconvenience.

GAC Group announced it will finalize dealer rebates within two months to bolster the automotive supply chain’s financial stability. This move, aligning with regulatory trends and calls for a healthier ecosystem from the China Automobile Dealers Association, follows similar commitments from other automakers. The initiative aims to foster high-quality development within the sector, with industry observers watching for similar actions from other major players like FAW Group and Dongfeng Motor.

The Huawei Pura 80 series launch saw significant demand, with long queues reported at flagship stores in Shanghai and Beijing. Early models, particularly the Pro/Pro+ versions, quickly sold out of some colors. The phone’s advanced imaging technology, including a unique “one-lens, dual-eye” design, is cited as a key driver of consumer interest, especially for concert and travel photography. The CEO’s presence further fueled excitement.

Errol Musk, father of Elon, advocates for a nuanced view of China, seeing them as a brilliant and formidable competitor, not an adversary. He admires their drive and talent, inspiring him to excel. This aligns with his son’s perspective, who highlights China’s impressive infrastructure and workforce. Both Musks and Nvidia’s CEO acknowledge China’s skilled and dedicated people as a key driver of their progress.

Prime Success L.P., holding an 8% stake in Sinovac Biotech, issued a statement criticizing the company’s upcoming shareholder meeting on July 8, 2025, and the actions of the current board (“1Globe Activist Board”). Prime Success, a large shareholder, accuses the board of misleading statements regarding dividend distribution timing and manipulating facts. They advocate for a dividend payout before the meeting and urge shareholders to vote for a new board nominated by SAIF, emphasizing the critical need for competent leadership focused on the company’s long-term success.

Following the release of a popular collectible series, altercations, including physical confrontations, have erupted due to high demand. Incidents in China, the UK, and Indonesia reveal aggressive behavior at vending machines, with some groups attempting market manipulation. Legal experts are examining the responsibilities of the company, consumers, and scalpers. The company faces liability for unsafe environments, while scalpers may face legal action for anti-competitive practices, and consumers are entitled to legal recourse against fraud or counterfeiting.

DTTM Operations, representing Donald Trump, has filed trademark applications for telecommunications services, including mobile phones and retail ventures, potentially expanding his business interests. This follows earlier filings signaling a move into the metaverse, suggesting a broader diversification strategy beyond his traditional real estate and hospitality focus. The applications encompass virtual goods, digital token exchange, and virtual training services.

West Coast Community Bancorp announced the results of its annual director election, with shareholders strongly approving management’s slate. High voter turnout (74.41%) and overwhelming support, with percentages ranging from 86.34% to 96.19% for individual directors, signify confidence in the bank’s strategic direction. Shareholders also ratified the appointment of Crowe LLP as the independent auditor with 99.85% approval.

Following Elon Musk and Donald Trump’s public disagreement, the fallout continues. The White House is reviewing SpaceX’s multi-billion dollar contracts with the Department of Defense and NASA. This includes assessing SpaceX’s role in missile defense systems. The government is preparing potential retaliatory measures, giving it options should the political situation worsen despite Musk’s retracted threat to retire SpaceX’s Dragon spacecraft.