Markets

New Found Gold Corp. completed the second tranche of its “bought deal” offering, raising C$63.48 million. This final tranche, including the underwriters’ over-allotment option, generated C$21.4 million and involved Charity Flow-Through Common Shares and common shares. Funds will support exploration expenses at the Queensway Gold Project. Major shareholder Eric Sprott retained his stake. The offering, underwritten by firms including BMO, underscores strong investor confidence and is subject to regulatory approvals.

TSMC is developing CoPoS, a next-gen chip packaging technology using large panel substrates (up to 310x310mm), expanding upon CoWoS. CoPoS, featuring an interposer for improved signal integrity, is slated for pilot production in 2026, mass production by late 2028/early 2029. It targets high-end applications needing robust power delivery, potentially replacing CoWoS-L, with NVIDIA likely as an early adopter. Interposer materials will move toward glass.

Apple announced the 2025 Apple Design Award winners, recognizing 12 global teams. Significant this year was Taobao, a Chinese platform, winning an “Interaction” award for its Apple Vision Pro app, marking a first for Chinese internet platforms. Other winners included CapWords and Infinity Nikki. The awards highlight innovative app design across categories like Interaction and Visuals, serving as a major industry honor.

Garmin introduces the GPSMAP 15×3 chartplotter, featuring a 15-inch ultrawide touchscreen designed for an enhanced boating experience. The new display offers superior clarity and optimized helm space, providing the benefits of dual screens in a single unit. The GPSMAP 15×3 includes built-in sonar capabilities, preloaded mapping, and seamless connectivity for a streamlined and immersive experience.

Xiaohongshu revealed its 2025 H1 anti-fraud efforts, combating inauthentic content to build user trust. The platform removed 3.2M fraudulent posts, 10K fake accounts, and 600K low-quality AI-generated posts. Central to the strategy are AI-powered content identification, pre-content review, and refined reporting. These measures led to a 25% decrease in processing time for user reports, with plans for further refinement.

A Boeing 787-8 Dreamliner operated by an Indian airline crashed near Ahmedabad Airport on June 12th. The aircraft, carrying 242 passengers and en route to London, reportedly crashed shortly after takeoff into a residential area. Sadly, all 246 people on board are presumed dead. This marks the first known crash for the 787, Boeing’s latest model, previously boasting a perfect safety record.

Alibaba is undergoing a significant strategic shift towards AI, spurred by internal reflections on past missteps and the rise of competitors. Executives, including Joe Tsai, admitted to overexpansion and are now laser-focused on AI and cloud infrastructure to regain dominance. This triggered rapid development of the Qwen series, now a top-ranked open-source model, and a massive investment of over 380 billion yuan in AI infrastructure. The company aims to democratize AI through open-sourcing Qwen.

MINISO Group (MNSO) successfully held its annual general meeting in Hong Kong on June 12, 2025, with shareholders approving all resolutions. This crucial event reaffirms MINISO’s commitment to strong corporate governance and shareholder engagement. The positive outcome boosts investor confidence in the company’s sustainable growth and its position in the global retail market.

China unveiled two new international standards for refrigeration compressors in Zhuhai, the first such ISO standards in two decades. 格力电器’s Chairwoman, Dong Mingzhu, acknowledged the standards’ development, also addressing public perception of her demanding management style, revealing a commitment to detail while recognizing criticisms. Her reflections included past experiences as a single mother, leading to online observations about her “tough” exterior and “soft heart.”

CNBC reports that consumers are experiencing issues using prepaid credit on Tmall Supermarket during the 618 shopping festival. One user, with over 10,000 yuan remaining on a gift card, faced purchase failures and expiring coupons. Multiple similar complaints have been filed. While Tmall cites potential system issues and high traffic, the affected consumer denies any wrongdoing, highlighting the urgency to resolve the issue.