Markets

Shenlan Technology, once a $2.23B AI unicorn, faces mounting crises as over 100 ex-employees pursue legal action against founder Chen Haibo, securing court-imposed travel bans over unpaid wages. The company dissolved its Shenzhen workforce in 2024 despite a 2023 payment agreement, citing conflicting financial claims about IPO preparations. Courts rejected Chen’s appeal, holding him accountable as legal representative amid accusations of evading operational duties. Shenlan countersued ex-staff for alleged non-compete breaches, while its nine-figure Pre-IPO funding and alleged inflated revenue claims (¥100M actual vs. promoted billions) deepen credibility concerns. Prolonged IPO delays and unresolved labor disputes expose governance risks, reflecting systemic issues in China’s hypercompetitive AI sector.

The Trump administration revoked Harvard’s certification to enroll international students, alleging “terrorism support,” forcing 6,800 current students to transfer or face legal status risks. The move impacts Harvard’s $5.4B budget, as international students (27% of its body) pay full tuition. Officials framed it as accountability for defying federal demands on curriculum and campus policies. Harvard, which had sued to reclaim $2.2B in frozen grants, called the action unlawful overreach threatening U.S. academic leadership. A federal judge issued a temporary restraining order blocking enforcement, setting up prolonged legal battles. The conflict highlights tensions between federal authority and higher education autonomy.

Chinese auto influencer Chen Zhen ignited social media controversy after sharing images of a custom Ferrari Purosangue, with netizens alleging veiled criticism of Xiaomi’s SU7 electric sedan. While Chen praised Xiaomi’s product value in follow-up comments, critics interpreted his post as contrasting Ferrari’s heritage with the tech giant’s automotive ambitions. The debate underscores rising tensions in China’s EV sector, where legacy luxury brands collide with tech disruptors. Analysts note influencers’ growing power to shape consumer narratives across industries, as Xiaomi’s “mass-market dream car” faces scrutiny over design and pricing in the $100 billion market.

Journey Energy Inc. (JOY/JRNGF) strengthened its governance at its 2025 AGM, with shareholders approving all resolutions by wide margins. Key outcomes included maintaining a six-member board (85.67% support), director reappointments (79.42%-83.01% approval), KPMG’s auditor retention (97.37%), and adoption of governance modernization measures (82.10%). The re-elected board will prioritize operational continuity, balancing conventional energy production with emissions reduction initiatives. Analysts highlight high approval ratings as a competitive advantage, noting alignment with strategic goals like drilling efficiency and renewable partnerships outlined in the 2025 roadmap.

Silvercorp Metals reported robust fiscal 2025 results with annual revenue up 39% to $298.9 million and adjusted net income of $75.1 million. Q4 revenue surged 76% YoY to $75.1 million, though a $20.6 million derivative charge led to a $7.6 million net loss. The company achieved record-low cash costs ($2.49/oz silver net of byproducts) and doubled cash reserves to $369 million. Key developments include the $181 million Adventus Mining acquisition and $138.6 million operating cash flow funding growth projects. Despite base metals volatility, Silvercorp maintained its dividend streak and strengthened its position in precious/base metals markets.

Hims & Hers Health introduced a six-month Wegovy® subscription at $549/month, a 15% discount on average retail prices, to expand access to prescription weight-loss care. The limited-time offer via telehealth includes consultations, nutritional tools, and progress tracking, leveraging Novo Nordisk’s expanded production. CEO Andrew Dudum emphasized affordability in chronic care, while analysts note the model bridges payer-patient cost gaps. The initiative aligns with a 212% annual rise in metabolic health consultations, reflecting consumer demand for preventive solutions. Promotion runs through June 30, 2025, with eligibility criteria on the company’s platform. Hims & Hers continues offering compounded alternatives and behavioral programs in the $100 billion wellness sector.

Guess?, Inc., WHP Global, and Marcolin announced a four-year eyewear licensing deal for their jointly owned rag & bone label, targeting the $114B global market. Launching Q1 2026, the collection blends urban aesthetics with artisanal craftsmanship, reflecting rag & bone’s ethos of merging heritage tailoring with modern utility. Marcolin, leveraging 30+ years in luxury eyewear, will produce angular, versatile designs aligned with Gen Z’s “quiet luxury” trends. The partnership extends rag & bone’s lifestyle offerings post-2024 acquisition, while Marcolin strengthens its premium portfolio after €545.8M revenue in 2023. Distribution spans 48 boutiques, e-commerce, and select retailers, supported by Marcolin’s AI customization tech.

Fortune Magazine’s 2025 Most Powerful Women in Global Business list recognizes leaders steering multinational firms through AI adoption, supply chain shifts, and geopolitical challenges. GM’s Mary Barra, Accenture’s Julie Sweet, and Citi’s Jane Fraser top the U.S.-dominated ranking (52% of honorees). Notable figures include AMD CEO Lisa Su, advancing AI chip innovation amid U.S.-China trade tensions, and Huawei’s Meng Wanzhou (10th), driving China’s semiconductor self-sufficiency. Chinese executives Joey Wat (Yum China), Bonnie Chan (HKEX), and JD.com’s Xu Ran also feature prominently. The list underscores technology strategy and cross-border agility as critical to modern corporate leadership.

Solis Minerals (ASX: SLM) is advancing a major copper-gold exploration campaign in Peru’s coastal copper belt, launching three key projects: a 2,500m drilling program at Chancho al Palo (targeting porphyry/IOCG systems), permitted 5,000m drilling at Ilo Este by 2025, and an IP survey near Southern Copper’s Toquepala mine. Positioned in a region producing 19% of global copper, Solis benefits from full asset ownership and proximity to infrastructure. Risks include regulatory delays and copper price volatility ($4.50/lb). Peru aims to double copper output by 2030, driven by green tech demand. SLM shares rose 4.3% post-announcement, with A$12.6M working capital supporting operations.

At its 15th-anniversary event in Beijing, Xiaomi unveiled cutting-edge devices, including the flagship Xuánjiè O1 chipset—a 3nm processor with 19 billion transistors and an AnTuTu benchmark exceeding 3 million points. CEO Lei Jun highlighted AI advancements, showcasing a neural processing unit delivering 44 TOPS (18% faster than Apple’s A18 Pro) and features like real-time AI-assisted writing. The launch, spanning the 15S Pro smartphone and Pad 7 Ultra, underscores Xiaomi’s vertical integration strategy to dominate smart ecosystems. Analysts note the chipset’s potential expansion into IoT and automotive markets.