Markets

A drone incident at Nanchang’s iconic Pavilion of Prince Teng injured a tourist, highlighting growing safety concerns around increasing drone activity. Despite the area being a no-fly zone, a drone operator caused the accident and faced an administrative penalty. This incident underscores China’s push to regulate unmanned aircraft operations, reflected in the “Interim Provisions on the Administration of the Flight of Unmanned Aircraft,” which came into effect in January 2024 and impose penalties for unauthorized flights.

BEST SPAC I Acquisition Corp. completed its $55 million IPO, priced at $10 per unit, on Nasdaq under the symbol BSAAU. The British Virgin Islands-based SPAC’s offering, managed by Maxim Group LLC, includes an over-allotment option. With focus on the consumer goods sector, the company aims to merge with a suitable target. The SEC declared the registration statement effective on June 12, 2025.

Actress Yifan Shao, known for “I Will Find You a Better Home,” criticized Xiaohongshu’s (RED) content moderation. She detailed issues with delayed visibility and a perceived reliance on keyword-based AI, leading to user frustration. Shao fears the system’s flaws could lead to self-censorship and a platform dominated by AI-generated content, echoing concerns from other users. Her background includes degrees and work experience in varied fields before her acting career.

TSMC’s 2nm process has achieved a production yield exceeding 60%, solidifying its leadership in semiconductor manufacturing. This puts them far ahead of Samsung, whose 2nm yield is around 40%. TSMC’s 2nm technology, leveraging GAA, promises significant performance and efficiency gains. Key clients like Apple, NVIDIA, and AMD are expected to adopt it, while Samsung is targeting 2nm production for its Exynos 2600 processor later this year.

Think Academy launches the TalPad T100, an AI-powered tablet designed to boost children’s academic performance. Targeting parents, the device features a “Genius Tutor” for 24/7 homework help and offers various educational content beyond standard tablet features. It aims to be an affordable, multi-purpose tool for homeschooling and traditional learning, offering personalized learning plans with a monthly subscription under $9.99.

Shenzhen Metro Line 11 experienced service disruption due to a train’s electrical system malfunction, leading to reports of smoke and delays. Social media users speculated about an explosion, but the official Shenzhen Metro refuted these claims. Normal service is resuming after the affected train was removed. Passengers affected can obtain delay certificates and refunds.

Published on CNBC, the article highlights China’s growing influence in the global refrigeration industry. Gree Electric Appliances, along with partners, spearheaded the development of two new international standards for refrigeration compressors (ISO 18501 and ISO 18483), marking a shift in the previously Western-dominated standardization. This achievement, driven by Gree’s technological advancements and self-sufficiency efforts, illustrates the company’s journey from dependence on foreign suppliers to a global leader in compressor technology.

Lightspeed Commerce Inc. has reached an agreement in principle to resolve a proposed class action in Quebec, following the dismissal of a parallel U.S. securities class action. The settlement, subject to court approval, will resolve all claims without Lightspeed admitting liability. Founder & CEO Dax Dasilva stated the settlement allows Lightspeed to focus on strategic growth, for approximately $8.09 million.

Hong Kong plans to allow Guangdong-registered private vehicles to enter via the Hong Kong-Zhuhai-Macau Bridge, mirroring the existing scheme for Hong Kong cars. This “Guangdong Cars Southbound” program aims to simplify cross-border travel for short trips, boosting regional economic activity. The government is preparing by assessing infrastructure, ensuring safety standards, and developing user-friendly guidelines. It builds upon the success of the “Hong Kong Cars Northbound” and includes new parking facilities, anticipating significant traffic increases.

Nepra Foods Inc. announced a non-brokered private placement to raise up to $500,000. The offering involves issuing units at $0.06 each, comprising a common share and a warrant. Funds will be used for working capital. Closing is subject to regulatory approvals. Nepra Foods, a specialist in allergen- and gluten-free food ingredients, aims to strengthen its position in the healthy food market through this financing.