[ByteDance Explores Autonomous Driving, Led by Seed World Model Team]

[Bao Gang United Steel: H1 Net Profit Expected to Increase 52% to 98% YoY] Bao Gang United Steel announced that it expects its H1 2026 net profit attributable to shareholders of the parent company to be between 230 million yuan and 300 million yuan, an increase of 78.67 million yuan to 149 million yuan compared with the same period last year, up 52% to 98% YoY. H1 2026 net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses is expected to be between 340 million yuan and 500 million yuan, an increase of 233 million yuan to 393 million yuan compared with the same period last year, up 218% to 368% YoY. In H1 2026, steel market demand was weak, structural differentiation was evident, and the rise in coal and coke raw material prices squeezed enterprises' profit margins. Facing downward pressure on the industry, the company firmly adhered to the "high-quality premium steel + series rare earth steel" strategy, deepened product structure adjustment, increased the production and sales proportion of high value-added new steel materials, and comprehensively promoted cost reduction and efficiency improvement across the entire process. Coupled with the gradual resumption of production at some production lines and the rise in the rare earth market, the company turned losses into profits overall in Q2, achieving a significant increase in H1 profitability.

TSMC (TSM.N) saw quarterly sales rise 36%, in line with market expectations, indicating that global demand for AI hardware remains strong. Based on calculations, for the three months ended June, TSMC's revenue reached NT$1.27 trillion ($39.6 billion), consistent with the average analyst estimate. The results were driven by a strong June, when sales rose 68% YoY. In June, CEO Wei Zhejia warned that even as the US adds more manufacturing capacity in the coming years, the company will still be unable to meet demand, led by US clients, for many years. This view was echoed by major chipmakers. SK Hynix currently expects that the ongoing memory chip shortage will extend beyond 2030. TSMC is set to release its full earnings report on Thursday, along with updated full-year guidance and capital expenditure plans.

This afternoon, Dongfang Computing Power launched its first flagship chip, the DF1000, in Shanghai. As the world’s first software-defined near-memory computing 3D chip, the DF1000 overcomes the three core bottlenecks in the development of high-end computing power chips in China with its "software-defined + 3D stacked near-memory computing" paradigm. Guo Wei, vice president of Dongfang Computing Power, introduced that the DF1000 focuses on source innovation in underlying computing architecture, achieving hardware-software decoupling and dynamic reconfiguration through software-defined chip technology, delivering 520 TFLOPS@BF16 of computing power at the 14nm process node.