E-commerce Financial Roundup: Former Domestic Color TV Giant Applies for Delisting; Nestlé Sells 7 Health Supplement Brands for $1 Billion

Original by Ebrun Former domestic color TV giant applies for delisting; Nestlé sells 7 health supplement brands for $1 billion; iFLYTEK's public relations vice president is relieved of his post; Tencent WorkBuddy open platform launches.

Capital & Major Events

1. 34 Years After Listing, Konka Group Voluntarily Applies for Delisting

On September 3, *ST Konka announced that it plans to voluntarily withdraw its A-share and B-share stocks from trading on the Shenzhen Stock Exchange via a shareholders' meeting resolution, and will transfer to the delisting board of the National Equities Exchange and Quotations (NEEQ) after the termination of listing. The announcement noted that the company's shares will be suspended from trading starting from the market opening on September 4, and will be delisted within 5 trading days after the Shenzhen Stock Exchange announces its decision to terminate the listing. If the delisting matter is not approved by the shareholders' meeting, the company will apply for the resumption of trading of its shares from the date of the announcement of the shareholders' meeting resolution. Public information shows that the full name of the listed company corresponding to *ST Konka A is Konka Group Co., Ltd., one of the former domestic color TV giants, which went public in 1992 and has been listed for 34 years to date. (Source: Yicai)

2. SHEIN Officially Lists! Market Value Exceeds HK$180 Billion

On September 1, news broke that Shein International Holdings Limited was officially listed on the Hong Kong Stock Exchange, with an issue price of HK$48.56 per share, an offering market value of approximately HK$206.2 billion, a latest market value of HK$189.6 billion, and total fundraising of more than HK$13.5 billion. (Recommended reading: SHEIN Officially Lists! Market Value Exceeds HK$180 Billion, Becoming the Third Largest Player in the Global Fashion Industry in 14 Years)

Founded in 2008, SHEIN has evolved from a cross-border seller focusing on wedding dresses to the third-largest fashion retailer by market share over 14 years. Known as the "world's largest online fashion destination", as of 2025, SHEIN serves approximately 273 million active customers in around 160 markets. The company offers more than 2 million clothing styles, with an average of about 4,700 new styles added every day.

3. Mech-Mind Robotics Becomes the First "Eye-Brain-Hand" Embodied Intelligence Stock on the Hong Kong Stock Exchange

Mech-Mind (Xiongan) Robotics Technology Co., Ltd. (hereinafter referred to as Mech-Mind Robotics) successfully listed on the Main Board of the Hong Kong Stock Exchange on September 1, with a base offering size of US$300 million, and a maximum offering size of US$345 million after the exercise of the over-allotment option. On the first day of listing, Mech-Mind opened flat at the issue price of HK$101.7, but its share price weakened thereafter, dropping to an intraday low of HK$97. As of the midday close, the share price stood at HK$99.1, down approximately 2.6% from the issue price, with a market value of HK$12.35 billion. (Recommended reading: Mech-Mind, the First "Eye-Brain-Hand" Embodied Intelligence Stock, Lands on Hong Kong Stock Exchange with a Market Value of HK$12.35 Billion)

4. Nestlé Sells 7 Health Supplement Brands for US$1 Billion

On September 2, Nestlé Group announced that it will sell its mainstream vitamins, minerals and supplements (VMS) business, involving 7 brands, for US$1 billion. The announcement shows that the transaction involves seven established brands: Nature's Bounty, Osteo Bi-Flex, Ester-C, Gard, Nuun, Puritan's Pride and Sisu, as well as the related U.S. private label supplement business, and exclusive manufacturing, packaging, warehousing and distribution operation facilities. The business is mainly located in the United States, and also has a presence in multiple countries including Canada and China. The transaction is subject to approval from relevant regulatory authorities and is expected to be completed in the first half of 2027. The buyer is Yellow Wood Partners, a Boston-headquartered private equity firm focused on the consumer industry.

AI & Frontier

1. Tencent WorkBuddy Announces Launch of Open Platform, Fully Opening Agent Infrastructure Capabilities

Tencent WorkBuddy announced the official launch of its open platform, with more than 100 ecological partners introduced in the first batch, opening up underlying Agent capabilities to smart hardware, industry applications, developers and others. At the press conference, 9 co-branded smart hardware products made their debut, with partners including Plaud, Rokid, Insta360, iFLYTEK, Anker, Moma and JD Jingzao; more than 30 industry applications were simultaneously connected, covering more than 20 sectors including finance, law, healthcare, education and public welfare. (Recommended reading: Launch of WorkBuddy Open Platform: A Generational Shift in the Enterprise Service Trading Market)

2. Qianwen Creation Launches Agent Teams, Covering Professional Video Production Scenarios

On August 31, Qianwen Creation launched its Agent Teams feature, integrated with Wan3.0, which has been opened to all users. This feature introduces a multi-Agent collaboration mechanism into the entire process of professional video creation. Users only need to put forward their creative ideas, and then expert Agents with different divisions of labor can be convened to collaborate to complete the video creation. Currently, Agent Teams has been launched on the PC side of Qianwen Creation and the Qianwen App, allowing users to create anytime, anywhere across devices.

3. Tencent Hunyuan: Hy4 Preview Calls Surge, WorkBuddy Has Carried Out Emergency Capacity Expansion

Tencent Hunyuan stated that since the Hunyuan Hy4 preview was first launched on WorkBuddy on August 28, 2026, thanks to its significantly improved Agent capabilities, it has received positive experiences and enthusiastic feedback from a large number of users and developers. Queues appeared in the WorkBuddy task queue on the first day of launch, for which the company sincerely apologizes. To ensure user experience, the company has carried out emergency capacity expansion for the Hy4 preview inference cluster and will continue to dynamically allocate resources. However, limited by the total amount of high-end computing power and concentrated peak concurrency, queuing may still occur in individual periods.

4. Manus Officially Resumes Independent Operation

On September 1, general AI agent company Manus announced that it has officially resumed independent operation, and the original founding team consisting of Xiao Hong, Zhang Tao and Ji Yichao will continue to lead the company. Manus stated that as an independent AI agent laboratory, it will continue to push the boundaries of general AI agents, transform new functions into products, help users cope with complex tasks, and achieve greater achievements in daily life and work. (Source: Interface News)

5. OpenAI Officially Releases GPT-6 Astra

In the early hours of Beijing time on Friday, OpenAI officially released GPT-6 Astra, calling it "the world's most intelligent and best-aligned model to date", which has reached the current state-of-the-art level in computer operation, web browsing, software engineering, cybersecurity, scientific research and professional work. On FrontierMath Tier 4, which represents advanced mathematical ability, Astra scored 97.6%, almost acing this research-level math test; on ARC-AGI-3, which emphasizes learning in unfamiliar environments and abstract reasoning, its score jumped from 7.8% for GPT-5.6 Sol to 99.9%, close to full marks. In ExploitBench, which tests vulnerability exploitation capabilities, Astra scored 100%, compared with 78.5% for GPT-5.6 Sol. (Source: Caixin)

What to Invest In

1. "NestWorks" Completes Hundreds of Millions of Yuan in Angel and Angel+ Round Financing

Desktop CNC brand "NestWorks" has recently completed hundreds of millions of yuan in angel and angel+ round financing, with investors including Sequoia China, BlueRun Ventures, CMC Capital, Vertex Ventures and Vision Plus Capital, and Gaohu Capital serving as the exclusive financial advisor for the follow-up financing.

2. "Tiangong Robotics" Completes Hundreds of Millions of Yuan in Financing

Recently, Beijing Tianxia Xianzhichuang Robot Technology Co., Ltd. (Tiangong Robotics) completed hundreds of millions of yuan in financing. This round of financing was led by Chuxin Fund, with participation from Matrix Partners, Hefei State-owned Assets and other institutions. The raised funds will be mainly used to expand the mass production scale of sorting robots, research and development and commercial iteration of humanoid-based sorting robots, and business expansion in overseas markets.

3. "Nirva" Completes Tens of Millions of Dollars in Seed Round Financing

Wearable AI hardware startup "Nirva" has completed tens of millions of dollars in seed round financing, led by U.S. VC Lightspeed, with participation from South Park Commons, and Shendu Capital serving as the long-term exclusive financial advisor. This financing will be mainly used to expand the team, prepare for mass production and develop new products.

Personnel Changes

1. iFLYTEK's PR Vice President Han Yuchen Relieved of His Post Following Internal Report

A personnel adjustment notice confirmed by insiders of iFLYTEK shows that iFLYTEK relieved Han Yuchen of his post as deputy general manager of the Brand and Marketing Center on August 31, 2026; relevant responsibilities will be taken over concurrently by Wu Junhua, general manager of the Brand and Marketing Center. It is reported that the notice, issued by iFLYTEK's "Organizational Development and Human Resources Department" under document number Xun Zu Ren [2026] No. 173, was dated August 31, 2026. The notice states that following the company's research and decision, personnel adjustments will be made to the Brand and Marketing Center, relieving Han Yuchen of his post as deputy general manager of the center, with relevant responsibilities assumed concurrently by Wu Junhua, general manager of the center.

According to media reports, Han Yuchen was previously the vice president of public relations at iFLYTEK Group, joining the company at the end of 2018 to lead the establishment of the group's public relations department, with more than 10 years of experience in public communication and crisis public relations. He previously held positions as marketing and public relations director at Alibaba and 360. His dismissal may be related to a previous internal report at iFLYTEK. According to report documents circulated online earlier, the spouse of a female iFLYTEK employee named Zhu Qian filed a real-name report. (Source: NetEase Finance)

2. Former DeepSeek Core Researcher Wei Haoran Appointed Head of Baidu Wenxin Multimodal Algorithm

According to people familiar with the matter, Wei Haoran, a former core researcher at DeepSeek, has moved to Baidu's Basic Model R&D Department (BMU) with his team and assumed the position of head of multimodal algorithms for the Wenxin large model. Wei Haoran graduated with a direct PhD from the University of Chinese Academy of Sciences in 2023. He previously led the StepVR Vary dual-tower multimodal model. After joining DeepSeek in 2024, he participated in the development of V3.2 and V4, and led the open source of the DeepSeek-OCR series as the first author. After joining Baidu earlier this year, he open sourced the Unlimited OCR model on June 22, which ranked first globally in the OmniDocBench benchmark test. At the same time, Sun Tianxiang, head of Baidu's BMU, internally announced the recruitment of researcher Wu Qin (alias) from a North American frontier lab to strengthen pre-training capabilities. It is worth noting that DeepSeek has experienced intensive talent outflow recently: Wang Bingxuan joined Tencent, Luo Fuli joined Xiaomi, Guo Daya joined ByteDance's Seed, and Ruan Chong joined DeepRoute.ai.

3. Apple Officially Changes CEO on September 1, John Ternus Takes Over

Apple will complete its CEO handover on September 1 local time: John Ternus, current senior vice president of hardware engineering, will succeed Tim Cook, who will become executive chairman of the board and continue to be responsible for matters including communication with global policymakers. Ternus' first priorities after taking office include hosting Apple's fall new product launch on September 9, where this year's new products include the first foldable iPhone and a smart display that can identify speakers and adjust content according to user preferences. He is also responsible for overseeing longer-term product lines, including AirPods with cameras, smart glasses, home security systems, robotic arm displays and wearable cameras. These devices are critical for Apple to continue its decades of success in the artificial intelligence era. (Source: Caixin)

This article was first published on the official website of Ebrun.