Markets

Xiaomi President Lu Weibing attended Leica’s centennial exhibition, highlighting Xiaomi’s partnership with Leica to bridge humanistic photography with mobile computational photography. Xiaomi and Leica have collaborated on over 20 models in four years and established the Xiaomi x Leica Optical Institute. The institute focuses on core optical technologies, including AI and image digital technology, to advance mobile imaging optics and leverage both companies’ strengths. They aim to redefine mobile imaging capabilities and lead in optical technology evolution.

Volcon (VLCN) now holds 3,183.37 BTC, acquired for approximately $375 million at an average of $117,697 per Bitcoin. The company is actively managing its position by selling short-term put contracts to potentially acquire more Bitcoin at lower prices. Volcon’s board has also authorized a $100 million stock repurchase program. The company believes this treasury strategy reflects its confidence in Bitcoin as a long-term store of value. Volcon aims to offer investors efficient exposure to Bitcoin through the public equity market.

LG Electronics reported a 4.4% year-over-year revenue decline and a 46.6% drop in operating profit for Q2 2025, citing weak global demand, U.S. tariffs, and increased competition. While home appliance, vehicle component, and environmental solutions divisions achieved record results, the media and entertainment segment faced losses due to declining TV sales. LG aims to boost growth in the second half by focusing on high-efficiency products, expanding its portfolio, and targeting emerging sectors like AI data centers.

ChoiceOne Financial Services (COFS) reported its Q2 2025 financial results following its merger with Fentura Financial on March 1, 2025. The merger added approximately $1.8 billion in assets. Q2 net income was $13.53 million, up from $6.59 million year-over-year, while the six-month period resulted in a net loss largely due to merger-related expenses. GAAP net interest margin increased to 3.66%. Core loans grew organically by 10.0% over the past year. Assets reached $4.3 billion.

China’s pre-prepared meal industry is booming, driven by lifestyle changes, advancements in technology, and a growing demand for convenient food options. Over 8,000 new ready-to-eat meal companies have registered this year, bringing the total to over 73,000. Experts emphasize the need for improved quality, flavor, and transparency, including clear labeling in restaurants, to ensure consumer trust and broader acceptance of pre-prepared meals.

Shanghai authorities arrested an internet firm executive amid corporate malfeasance concerns. The case involves an executive from a short-video platform, suspected of embezzling 140 million yuan (~$19.4 million USD). He allegedly used shell companies and cryptocurrency laundering, including coin mixing, to hide illicit funds. The platform’s internal audit flagged anomalies in service provider incentives, leading to the discovery. The executive and accomplices fabricated documents for subsidies. Prosecutors traced the funds, leading to convictions ranging from 3 to 14.5 years. Sources suggest Kuaishou is the platform, but official confirmation is pending.

China’s upcoming eight-day National Day and Mid-Autumn Festival holiday in October 2025 has sparked online debate. While the extended break is welcomed by some, many express discontent over the required “make-up” workdays. This follows revised holiday regulations from November 2024, aiming for strategic holiday allocation. Officials highlight the importance of these adjustments for family visits and domestic tourism, balancing economic benefit with worker well-being. The policy reflects ongoing discussions about holiday arrangements in China.

Portland General Electric reported GAAP net income of $62 million for Q2 2025, driven by data center demand growth. Non-GAAP net income was $73 million, excluding business transformation expenses. The company is seeking regulatory approval for a holding company reorganization and cost recovery for its Distribution System Plan and Seaside Battery project. PGE reaffirmed its 2025 adjusted earnings guidance of $3.13 to $3.33 per diluted share, based on energy delivery growth of 2.5% to 3.5%.

Xiaomi has won a five-year patent battle against GE Video Compression, a former member of the HEVC Advance patent pool. China’s Supreme People’s Court upheld the invalidation of GE’s patent, shielding Xiaomi from infringement claims related to the technology. This decision stems from a dispute initiated in 2020, when GE filed an infringement lawsuit against Xiaomi in Germany. Xiaomi strategically challenged the patent’s validity, leading to this final victory. The court determined the patent lacked an inventive step.

Pang Donglai founder Yu Donglai addressed high employment interest in the company’s new store via livestream. He warned that competition for positions will be fierce, estimating 100 applicants per job. Pang Donglai, known for excellent customer service and innovative retail, has already hired 239 people in 2024, requiring at least a Bachelor’s degree. The company’s employee compensation, averaging RMB 9,000 monthly after-tax, and benefits are considered “best-in-class,” attracting significant attention after Pang Donglai’s nationwide success.