Markets

**China Battery Industry Alert:**
A top association official criticizes companies prioritizing price wars over R&D and quality, warning this erodes profits and global competitiveness. The sector faces a critical safety transition amid recalls and energy storage incidents. Systemic risks include massive raw material import dependency (~90% cobalt), weak sustainability strategies, inadequate recycling systems, and opaque data regulations. Industry leaders urge strategic reforms. (78 words)

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CATL executive Shi Wei advocated for battery-swap capable EVs as second cars at the China Automotive Forum. He compared current battery ownership, which degrades irreplaceably with the car, to a marriage. Wei highlighted swapping’s ease, especially for groups like female drivers who avoid the physical hassle of charging. Swapping stations replace depleted batteries in minutes without manual handling. This enhances convenience for all secondary EV buyers, as CATL pushes adoption to alleviate range anxiety and reshape the market. CATL Service is the subsidiary driving these technology solutions. (94 words)

Europe faces deadly 2025 heatwaves as low air conditioning adoption leaves populations vulnerable amidst record temperatures. Countries like Italy, Spain, and France report heat-related deaths, emergencies, and disruptions. Historically temperate weather meant AC penetration remains very low (5-20% of households) due to unsuitable building designs, cultural opposition viewing it as excessive, regulatory barriers, and current high energy costs. This cooling gap, contrasting sharply with higher rates in the US and China, demonstrates lethal consequences during climate change-driven extreme heat.

Huawei announced an aggressive autonomous driving roadmap. Executives stated pilot L3 deployments begin this year, with scaled L3 commercialization in 2026. The company targets full L4 system commercialization by 2027 and autonomous highway logistics by 2028, acknowledging Tesla likely leads by a year. Huawei emphasized L3 marks a critical shift requiring driver vigilance and liability shifts towards manufacturers. Senior executive Richard Yu confirmed reliance on their systems, stating “Huawei is ready for L3” to transform commutes. (95 words)

Diginex (DGNX), a sustainability RegTech firm, grew revenue 57% to $2.0M but widened its net loss to $5.2M in FY2025. Critically, its balance sheet shifted from $23.0M net liabilities to $4.6M net assets after its January 2025 IPO. Post-filing, the company announced ambitious plans: a $2B all-stock acquisition of Resulticks Group, purchasing Matter DK ApS for $13M, pursuing a dual listing on Abu Dhabi Securities Exchange, and raising $250M targeting GCC investors. Strategic shifts included moving away from customization toward SaaS solutions despite core subscription growth challenges.

Linyi authorities addressed controversy around a restaurant initially fined ¥450,000 for posting a video of “Toad Soup” made from regulated Asiatic toads. After an investigation launched in February and a notice of penalty in March, regulators withdrew the fine on May 12th following the owner’s appeal and video removal. However, on July 11th, the owner claimed regulators ignored her appeals and filed a lawsuit. She contends “Hama” (toad) regionally refers to legal species, highlighting ambiguity, while officials state they are reviewing the enforcement actions.

A California mother left her 1-year-old and 2-year-old sons in her hybrid car during a lip injection procedure in 38°C heat. The intended 20-minute appointment took 2.5 hours. Despite her claim of activating air conditioning, the vehicle’s auto-shutoff system deactivated after one hour. Upon return, the infant was unresponsive and later died, while the older child survived. Charged with homicide, Hernandez remains jailed. Safety experts stress that temperatures inside sealed cars rapidly reach lethal levels in summer heat, causing heatstroke quickly.

JD.com and Shanghai delivery riders reached a landmark agreement, brokered by the trade union, guaranteeing full-time riders a minimum income of 5,000 RMB/month for their first three months and hourly rates of at least 25 RMB for contract workers. Key provisions include daily work hour caps at 11 hours with rest reminders, algorithm adjustments to extend delivery times in challenging conditions, speed limits of 25 km/h, provision of 50,000 smart helmets, and work suspensions during extreme weather. (94 words)

First Bancshares (FBSI) reported Q2 2025 net income of $1.82 million ($0.75 per diluted share), up from $1.63 million ($0.67/share) in Q2 2024. Profitability metrics were strong with a 1.36% ROA and 11.82% ROE. Total assets grew $27.3 million YoY to $544.1 million, driven by a $13 million increase in cash equivalents, a $15.9 million rise in net loans ($445.3M), and a $13.4 million deposit surge ($468.3M). A $7.5 million portion of asset growth stemmed from arbitrage activities. Shareholders’ equity increased $6.3 million to $62.3 million. The Bank remains “well-capitalized.”