Markets

A multi-billion dollar inheritance dispute over the Wahaha empire has begun in Hong Kong, with Zong Fuli reportedly facing an initial setback in court. However, this is just the first stage of a larger legal battle, with a significant lawsuit filed against Zong Fuli in Hangzhou. The case involves individuals claiming to be her half-siblings seeking asset preservation. Zong Fuli is represented by Stevenson, Wong & Co., the same firm that successfully defended Stephen Chow in a previous high-profile profit-sharing case.

Gree Electric has denied online rumors alleging executives colluded with an overseas investor, identified as Zhang Mouli, to commit fraud. Gree asserts an internal investigation found no evidence of improper dealings and condemns the claims as fabricated and defamatory due to lack of preemptive verification. The company has reported the article to the police, initiated legal action to protect its reputation and that of its executives, and advises business partners to engage directly with Gree to prevent potential fraud. The original article is no longer available online.

Fluor Corporation reported its Q2 2025 financial results, marked by the first LNG shipment from the LNG Canada project but impacted by challenges in infrastructure projects and client spending shifts, leading to adjusted 2025 guidance. While Urban and Energy Solutions profits declined due to cost overruns and an arbitration ruling, respectively, Mission Solutions remained steady. The company is revising its adjusted EBITDA and EPS forecasts for 2025. A conference call was held August 1st to discuss the results.

NVIDIA quietly added InnoScience, a Chinese GaN manufacturer, to its list of 800V DC power architecture partners, making it the sole Chinese supplier. This triggered a surge in InnoScience’s stock price in Hong Kong. InnoScience confirmed the collaboration, noting its GaN technology’s role, but cautioned that it’s still in the testing phase without concrete orders. InnoScience, the world’s first IDM mass-producing 8-inch GaN wafers, leads in GaN discrete device shipments, serving various sectors, including EVs and data centers.

Microsoft has expanded its .NET bug bounty program, increasing the top reward to $40,000 for critical vulnerabilities in .NET and ASP.NET Core. The program now encompasses a wider range of technologies and offers tiered rewards based on the severity of the vulnerability, incentivizing researchers to focus on the most damaging flaws, like Remote Code Execution (RCE) and Elevation of Privilege (EoP). This move reflects Microsoft’s commitment to proactive security and leveraging external talent to identify weaknesses.

BYD has officially named its first fleet of eight transport vessels, marking a significant step in establishing a global logistics network. Seven ships are operational, with “Jinan” entering sea trials. The standardized design of vessels like “Pioneer 1,” “Shenzhen,” and “Zhengzhou” promises streamlined costs and efficient operations. This dedicated fleet addresses international logistics challenges amid BYD’s surging overseas EV sales and leverages domestic manufacturing hubs, signaling its commitment to global market leadership.

Zeekr announced strong July 2025 deliveries, totaling 44,193 vehicles across Zeekr and Lynk & Co brands, a 19.7% year-over-year increase. Zeekr brand accounted for 16,977 deliveries. The company unveiled new Super Hybrid Technologies built on the SEA-S platform featuring a 900V architecture and tri-silicon carbide e-motors, aiming for industry-leading charging speeds. The Zeekr 9X, the first model with this technology, boasts rapid charging capabilities, potentially charging from 20% to 80% in approximately 9 minutes.

Inphic is launching the IN10R, an ergonomic right-handed gaming mouse designed for small to medium hands, on August 1st. It features a “Six Golden Touchpoint Design” based on extensive hand-size data. The mouse incorporates a nano-level “ice-sense” coating to reduce sweat and slippage. Weighing 62g, it boasts a PAW3395 sensor, KP950B chip, 8K receiver, and Omron micro switches. It also features tri-mode connectivity, a large battery, customizable software, and a low-friction design. Available in two colors.

Li Auto’s i8 crash test video, showing a collision with a heavy-duty truck, has triggered controversy in China. The video, seemingly demonstrating the i8’s superior safety, led to scrutiny and a challenge from truck manufacturer Chenglong. Key individuals from both companies have proposed a public retest, escalating the situation. A Chenglong dealership invited Li Auto drivers for a rematch, highlighting the intense competition and reputational stakes for both companies. The event has garnered significant public attention.

Poxel SA, facing insolvency proceedings, has overhauled its board and leadership. The entire existing board resigned, replaced by Sophie Jacq Lapointe (Chairman), Nicolas Trouche (CEO), Amit Kohli, and Alexandre Bragadir. Trouche succeeds Thomas Kuhn as CEO. Lapointe brings pharmaceutical commercialization expertise, while Trouche specializes in restructuring. Kohli has expertise in diabetes therapies and Bragadir in healthcare financing. Poxel’s focus remains on MASH and rare metabolic disorder treatments, including PXL065 and PXL770, and its diabetes drug TWYMEEG®. The new leadership aims to navigate restructuring and secure funding.