Industry Internet Weekly: JD Industrial Signs FAW Besturn; ZKH Jointly Releases Industrial Multimodal Large Model with Intel

[Ebrun Original] JD Industrial signs FAW Besturn; ZKH Jointly Releases Industrial Multimodal Large Model with Intel; Unibond's Computing Power Revenue Realized; Kaos Re-files for Hong Kong IPO

# Industry News #

1 Kaos Selected as National Manufacturing Digital Transformation Promotion Center, Simultaneously Advances Second Hong Kong IPO Filing

On September 22, the Ministry of Industry and Information Technology (MIIT) publicized the second batch of construction entities for Manufacturing Digital Transformation Promotion Centers, with Kaos IoT Technology Co., Ltd. selected. The center will provide public services for digital transformation, including diagnostic consulting, solution design, and technology breakthroughs, targeting industries such as light manufacturing, electronic information manufacturing, petrochemicals, and machinery. Concurrently, Kaos re-submitted its listing application to the Main Board of the Hong Kong Stock Exchange; if successful, it will become the ninth listed company under Haier Group. Additionally, the "Future Ship Maintenance AI Robot Cluster and Smart Brain" project, co-built by Kaos and Wanbang Heavy Industry, was launched in Zhoushan, Zhejiang, applying a "smart decision brain + robot cluster" brain-body collaborative architecture to core shipyard processes such as rust removal, welding, and spraying.

2 JD Industrial and FAW Besturn Sign Strategic Cooperation Covering Procurement, Supply Chain, Marketing, and Overseas Expansion

On September 21, FAW Besturn signed a strategic cooperation agreement with JD Industrial and JD Government & Enterprise Business. The collaboration will focus on industrial product procurement, digital and intelligent supply chains, omni-channel marketing and after-sales services, overseas operations, and parts logistics, addressing FAW Besturn's operational needs for procurement cost reduction, supply chain efficiency, marketing customer acquisition, and overseas market expansion. This signing extends the partnership from after-sales to the entire chain, including front-end procurement, vehicle marketing, and logistics for overseas expansion.

3 ZKH's Linglong AI Jointly Releases Industrial Multimodal Large Model LingLong Insight 1.0 with Intel

On September 22, at the Intel Technology Innovation and Ecosystem Conference held in Suzhou, ZKH's AI subsidiary Linglong AI and Intel officially released LingLong Insight 1.0. This model, with 4 billion parameters, is adapted for edge scenarios, starting with receiving verification. It uses adaptive OCR to read delivery notes, fine-tuned visual detection models to locate materials, and multimodal understanding to verify consistency between physical items and documents, forming a reviewable and confirmable operational loop.

4 Unibond Clarifies Cross-Border Business as "Third Growth Curve," First-Time Computing Power Revenue Realized

On September 17, Unibond held a conference for its 2026 semi-annual results, clarifying that cross-border business is the "third growth curve" the company is cultivating, currently still in the investment and layout phase. Infrastructure such as country headquarters and overseas warehouses in Pakistan and Kazakhstan is gradually being established. In the first half of 2026, other service revenue reached approximately RMB 74.31 million, attributed to computing power-related revenue, marking the transition of computing power business from planning to revenue validation.

5 Huitongda Network Discloses Interim Results, Net Profit Up 10.46% YoY, and Enters Five-Star Procurement and Sales Framework Agreement

On September 24, Huitongda Network disclosed its 2026 interim report, achieving operating revenue of RMB 23.585 billion, down 3.11% YoY; net profit of RMB 153 million, up 10.46% YoY. On the same day, the company entered into a Five-Star Procurement and Sales Framework Agreement with Five-Star Holdings, effective from January 1, 2027, to December 31, 2029, with annual caps of RMB 30 million for both sales and procurement transactions. Previously, CITIC Securities and Huachuang Securities maintained "Overweight/Buy" ratings.

6 YSB Continues Share Buybacks This Week

From September 21 to 24, YSB (09885.HK) conducted share buybacks over four consecutive trading days, repurchasing approximately 460,000 shares, with a total expenditure of about HKD 1.61 million. Specifically, 87,200 shares were bought back on September 21, 134,200 on September 22, 141,600 on September 23, and 107,600 on September 24.

7 Yunhan Xincheng's 34.78 Million Restricted Shares to Be Released on September 30

On September 24, Yunhan Xincheng (301563.SZ) announced that approximately 34.7827 million shares, including pre-IPO issued shares and strategic placement shares, will be unlocked and listed for trading on September 30, 2026, accounting for 41.0895% of the company's total share capital. Earlier, on September 21, the company's independent director Ping Qingzhong resigned from his independent director role and related committee positions for personal reasons.

8 Yangcai Group Secures Consecutive Bids for National Railway Mall MRO Project and China Railway Signal & Communication Material E-Procurement

Yangcai Group recently won bids for several projects, including China Railway Signal & Communication's 2026 material e-procurement negotiation and procurement project, National Railway Mall's 2027-2029 MRO platform supplier introduction project (ranking fourth), and the 2026 Shenzhen Sunshine Procurement Platform online mall supplier project. Previously, the company was also shortlisted for projects such as FAW's MRO industrial product e-commerce platform procurement and China Energy Engineering's 2026 office supplies and appliances centralized procurement.

9 01.AI's Large Model Open Platform Officially Shuts Down, Fully Focusing on Enterprise-Level AI Solutions

From 24:00 on September 3, 01.AI's large model open platform officially ceased model online trials, API calls, and core services, with a refund application window open until 24:00 on December 3, 2026. The company's business focus has further shifted toward enterprise-level AI solutions. Previously, 01.AI signed a cooperation agreement with Kazakhstani company Q.AI, jointly building Kazakhstan's national AI education platform with the Ministry of Education of Kazakhstan.

# Investment and Financing Highlights #

1 Transwarp Technology Finalizes H-Share Issue Price at HKD 49 per Share, Expected to List on HKEX on September 21

On September 17, Transwarp Technology (688031.SH) disclosed that the final price for its H-share issue is set at HKD 49 per share, with listing and trading on the Hong Kong Stock Exchange expected on September 21, 2026. Transwarp Technology is applying for listing under Chapter 18C of the HKEX Listing Rules, becoming the first A-share company to list in Hong Kong under Chapter 18C. Inspur Information and Luoyang Science & Technology Venture Capital are cornerstone investors. Transwarp Technology is listed in Company List 2, categorized under the industrial internet infrastructure layer.

2 Kaos Re-Files for Hong Kong IPO, Potentially Becoming Ninth Listed Company Under Haier Group

Kaos IoT Technology Co., Ltd., under Haier Group, has re-submitted its listing application to the Main Board of the Hong Kong Stock Exchange, following its initial filing in January 2026. If successful, Kaos will become the ninth listed company under Haier Group.

# Macro Policy #

1 MIIT Publicizes Second Batch of Manufacturing Digital Transformation Promotion Center Construction Entities

On September 18, the MIIT publicized the second batch of construction entities for Manufacturing Digital Transformation Promotion Centers, with a total of 25 selected, including 2 from Shandong Province. In Shandong, Kaos IoT Technology Co., Ltd. and China Mobile Group Shandong Co., Ltd. were included in the publicized list, providing public services for digital transformation for industries such as light manufacturing, electronic information manufacturing, petrochemicals, and machinery.

2 "Hunan Daily" Research Article: Using Industry Internet Platforms as a Lever to Systematically Build a "Soft Technology" Ecosystem

On September 21, "Hunan Daily" published a "Research and Reflection" article proposing the concept of "soft technology," referring to a high-end service-oriented technology system represented by industry internet platforms, digital and intelligent supply chains, industrial software, and digital finance. The article notes that in developed countries and regions, productive services account for over 30% of GDP on average, while in Hunan, productive services accounted for 23.4% of GDP in 2025, showing a clear gap. The article urges Hunan to seize opportunities in building industry internet platforms to promote high-quality development of productive services.

3 "Supply Bill China Tour" Shanghai Stop: Nearly 100 Institutions Discuss High-Quality Development of Supply Chain Bills Market

On September 22, the "Supply Bill China Tour" Shanghai stop was held, bringing together representatives from nearly 100 institutions, including Shanghai Commercial Paper Exchange, financial institutions, core enterprises, supply chain platforms, and industry internet platforms. Attendees believed that embedding supply chain bills into the entire business chain of procurement, production, and sales can drive core enterprise credit to be transmitted level by level to multi-tier suppliers in the industrial chain, prompting industry internet platforms to transform from simple transaction matching to comprehensive industrial financial service providers.

# Quotes of the Week #

1 "If hard technology determines how solid an industry's 'skeleton' is, then soft technology determines how smooth its 'blood vessels' are and how sensitive its 'nerves' are."

- From "Hunan Daily" article "Strengthening Soft Technology to Optimize the Value Chain"

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2 "Supply chain bills embedded in the entire business chain of procurement, production, and sales can drive core enterprise credit to be transmitted level by level to multi-tier suppliers in the industrial chain, prompting industry internet platforms to transform from simple transaction matching to comprehensive industrial financial service providers."

- Ma Zhixue, founder and CEO of Shanghai Dingzha Network Technology Co., Ltd., at the "Supply Bill China Tour" Shanghai stop

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3 "Industrial AI is no longer just 'seeing' materials, but attempting to understand the specifications, relationships, and business rules behind materials. From perception to understanding to verification, it embeds single-point AI capabilities into real receiving processes, forming a reviewable and confirmable operational loop."

- Tang Jiangwei, AI Product Expert at Linglong AI, in a demonstration at the LingLong Insight 1.0 release

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4 "Cross-border business requires a certain period from infrastructure setup to scaled order implementation. The company will continue to steadily advance the '1750' cross-border strategy, striving to cultivate it as a long-term growth engine."

- Unibond's statement at the 2026 semi-annual results conference

# Weekly Commentary #

This week in the industry internet sector, first, AI has moved from concept to the operational site, sinking into specific workstations such as material verification and ship rust removal, significantly refining the granularity of industrial intelligence implementation. Second, capital is concentrating on profitability validation and structural optimization. Kaos re-filed for a Hong Kong IPO, and Transwarp Technology knocked on the door under Chapter 18C. Meanwhile, the MIIT's digital transformation promotion center list and "Hunan Daily"'s call for soft technology formed policy resonance, with industry internet platforms' strategic positioning as core carriers of productive services becoming a local consensus and increasingly translated into policy language.

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