Markets

In June, 17 Chinese automakers pledged to cap supplier payments at 60 days. Two months later, some companies, including FAW, Dongfeng, and GAC, are actively working towards this goal, with three already achieving it. Companies are adjusting financial strategies and streamlining processes. This commitment aligns with upcoming regulations mandating 60-day payment terms for SMEs, aiming to improve the business environment and alleviate payment arrears. CCID highlights specific initiatives by FAW, GAC, and SERES.

Shenzhen-based Romoss, a portable charger manufacturer, is advertising a Gifts Channel Sales representative position after facing scrutiny due to product safety issues, production halts, and layoff accusations. The role, based in Nanshan, requires a bachelor’s degree and three years of experience, offering a monthly salary between ¥12,000 and ¥30,000. This recruitment follows reports of employee dissatisfaction, management changes, and rumors of bankruptcy, which Romoss denied on Weibo.

Ligand Pharmaceuticals (LGND) priced $400M convertible senior notes due 2030 in a private placement. The notes have a 0.75% interest rate and an initial conversion price of $194.79 per share, a 32.5% premium. Ligand expects $386.9M net proceeds, using $39.9M for hedge transactions, $15M to repurchase shares, and the rest for corporate purposes. The notes can be converted under certain conditions, and Ligand may redeem them after October 2028 if its stock price reaches 130% of the conversion price.

Xiaomi’s CEO, Lei Jun, initiated a poll about renaming the Xiaomi YU7 standard edition car. Initial results show a preference for keeping the “standard edition” title over adopting “Pro” or “Max.” Those favoring the current name believe the car’s quality speaks for itself. Those wanting a change hope it will improve market perception, as the YU7 boasts impressive specs despite its name. The poll addresses concerns that consumers underestimate the standard edition’s capabilities.

Elon Musk is threatening legal action against Apple over alleged antitrust violations related to the App Store. Musk claims Apple unfairly excludes X and his AI chatbot Grok from the “essential” category, hindering their visibility and disadvantaging AI startups. He argues Apple’s practices stifle competition and favor OpenAI. xAI plans to initiate legal proceedings immediately, potentially reshaping app distribution and competition within the AI sector.

Cablevisión Holding (CVHSY) reported its First Half 2025 results, highlighting the acquisition of Telefónica Móvil Argentina (TMA). Total revenues increased 44.4% YoY to Ps. 3,357,004 million, driven by TMA integration and higher ARPUs. EBITDA rose 45.2% to Ps. 1,000,447 million, with a margin of 29.8%. However, the company reported a consolidated net loss of Ps. 80,188 million. 1H25 results are not directly comparable to 1H24 due to TMA’s inclusion. Excluding TMA, total costs decreased by 0.6% YoY.

Amidst global economic uncertainty, India aims to become the world’s third-largest economy. Prime Minister Modi urges self-reliance, indirectly responding to past criticisms. Reports suggest escalating tensions between the U.S. and India, with growing anti-American sentiment leading to calls for boycotts of American brands like McDonald’s, Coca-Cola, Amazon, and Apple. While U.S. companies target India’s affluent consumers, Trump-era tariffs have fueled campaigns promoting indigenous products, potentially impacting U.S. sales in this key market.

Zhang Xue, a 31-year-old online personality known for documenting her battle with brain cancer, has passed away. Her husband announced her death, sharing a touching farewell message on social media. Despite facing controversy for publicly sharing their journey, Zhang Xue’s husband defended their decision, stating she was aware and supportive. He had sold his business to fund her treatment after her diagnosis with glioblastoma in October 2024.

On August 11th, a Socata TBM 700 turboprop crashed upon landing at Kalispell City Airport in Montana and struck a parked plane on the taxiway. The collision caused a fire that spread to nearby grassy areas and other planes. The aircraft, registered to Meter Sky LLC, carried four occupants, all of whom evacuated. Two passengers sustained minor injuries and were treated at the scene. The FAA is investigating the incident.

Revive Therapeutics (RVVTF) closed the first tranche of its private placement, raising $60,900 by issuing 2.9 million units at $0.021 each. It also settled $67,400 in debt by issuing 3.2 million units at the same price. Each unit includes a share and a warrant exercisable at $0.05 for 36 months. The proceeds will fund working capital and payables. Securities are subject to a hold period expiring December 9, 2025. The offering included 100,000 compensation options to an investment dealer.