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Alibaba Sells Gaming Business Lingxi Games; Li Shufu Resigns as Geely Auto Chairman; Xiaomi SU7 Series Surpasses 500,...
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On August 18, multiple major developments in the technology sector were released intensively. Alibaba officially sold its gaming business Lingxi Interactive Entertainment. According to an internal memo obtained by Bloomberg, Asian private equity firm Trustar Capital has reached an acquisition agreement with a transaction price of at least $1.5 billion. Lingxi Interactive Entertainment CEO Zhou Bingshu confirmed this in an internal letter, marking Alibaba's further focus on its core business.
On the same day, Geely Automobile Holdings announced management adjustments. Li Shufu was transferred to Honorary Chairman, and An Conghui was appointed Chairman of the Board. Geely stated that this move aims to improve the professional manager authorization and operation mechanism and promote the company's sustainable and healthy development. Previously, Li Shufu had long held core leadership positions in the group, and this change attracted market attention.
Xiaomi Auto reached a milestone, with the SU7 series delivering more than 500,000 units within 28.5 months. From the launch of the first-generation SU7 on March 28, 2024, to the release of the SU7 Ultra on February 27, 2025, and the new-generation refresh launched on March 19, 2026, Xiaomi Auto has driven sales growth through rapid iteration. This achievement is at a leading level in the new energy vehicle industry, highlighting the dual improvement of its production capacity and market recognition.
Voyah Automotive responded to the similarity in appearance between the Zhuiguang S and Xiaomi YU7. Voyah CBO Shao Mingfeng stated at a media communication meeting that the Zhuiguang S was already in development as early as the end of 2022, and said, "Good designs share a common understanding." This response attempted to quell external doubts about design plagiarism while emphasizing the product's development timeline.
Apple's iPhone 17 series performed strongly in the domestic market. According to data disclosed by digital blogger @RD Observation, as of the 32nd week of 2026, the series sold approximately 40.0458 million units. This figure demonstrates Apple's continued appeal in the high-end market, despite fierce competition from domestic smartphones.
In addition, Wang Puzhong, CEO of Meituan's core local commerce business, revealed that the company experienced a "shrimp farming movement" in the early stages of AI transformation, where full participation led to daily costs exceeding 10 million yuan, and generated content interfered with real operations. Meituan has now adjusted its strategy to shift toward more pragmatic AI applications. Unitree Robotics released the "Superman" robot, which can jump 2 meters in place and reach a top speed of 12.66 meters per second, surpassing human records, and is about to be listed on the STAR Market, becoming the "first humanoid robot stock." On the same day, Huawei's HarmonyOS installations exceeded 80 million units, moving toward the 100 million target.
