RecodeX

📡 Hourly News Update | 19:00-20:00

1. RecodeX reworks the report: A 31-year-old British man has been remanded in custody pending trial on suspicion of plotting sabotage against a drone factory in the UK for Russian intelligence services. The allegation claims he planned to carry out sabotage activities targeting drone production facilities within the UK.

2. RecodeX reworks the report: Russia has resumed attacks on Ukraine’s sunflower oil refining facilities. The Bunge plant in Ukraine was hit. This attack targeted Ukraine’s sunflower oil processing capacity, and Bunge, an international food trader, suffered damage to its local factory.

3. RecodeX reworks the report: Jiuqiang Co., Ltd. announced that on September 10, 2026, the company signed an Equity Investment Letter of Intent with Shandong Haidi New Energy Technology Co., Ltd., Tianke New Energy Co., Ltd. (Limited Liability), and Zong Zhe. The company plans to use cash to acquire no less than 51% of Haidi New Energy’s equity and obtain control. The final transaction price will not exceed RMB 275 million. The transaction is expected to constitute a major asset restructuring and is still in the preliminary planning stage. Audit, asset valuation, and other work has not yet been completed. The parties plan to sign the formal agreements by October 31, 2026.

4. RecodeX reworks the report: Polymarket, a prediction market platform, has appointed Warren Jenson as its first Chief Financial Officer. Jenson officially joined the company this week. He is 69 years old and previously held senior finance roles at media research firm Nielsen and marketing technology company LiveRamp. Polymarket founder and CEO Shayne Coplan is 28 years old. This move comes as Polymarket seeks a new round of investment and aims to restart growth.

5. RecodeX reworks the report: Far Sight Valley (002161.SZ) announced that the company has signed an equity investment letter of intent with Shenzhen Guangtai Communication Equipment Co., Ltd. and its shareholders. The company plans to acquire 100% of Guangtai Communication’s equity. The target company’s main business is providing customers with automated coupling equipment for optical communication components and modules, testing instruments, and automated testing solutions.

6. RecodeX reworks the report: On-chain data shows that a “giant whale” continues today to cross-chain buy 544.5 BTC via THORChain, worth approximately $42.43 million. Over the past two days, the address has cumulatively exchanged 60.37 million USDC for 767.8 BTC, with an average purchase price of about $78,628.

7. RecodeX reworks the report: Dingtong Technology announced that the company plans to set up Dingtong Liquid Cooling (Xinyang) Technology Co., Ltd. with RMB 100 million of its own funds. It will hold 100% equity in the company. The registered capital will be RMB 100 million, and the company’s main business will be liquid-cooling heat dissipation and thermal management. This proposal was approved on September 10, 2026 by the company’s 30th meeting of the third session of the board of directors, so it does not require submission to the shareholders’ meeting. Subsequent procedures such as industrial and commercial registration are still required.

📡 Hourly News Brief | 18:00-19:00

1. The State Council Information Office holds the launch briefing for the “Fifteen-Fifth Plan” for financial development. The People’s Bank of China issues the “Fifteen-Fifth Plan” for building a financial powerhouse, clarifying targets for 2030 and 2035. The China Securities Regulatory Commission deploys eight “further” initiatives and also sets development goals for the capital markets in 2030.

2. A report from the Bank of Korea shows that in the first seven months of this year, volatility in South Korea’s stock market reached 4.1%—the highest among the top 30 stock markets worldwide by market value. This is close to roughly three times last year’s 1.4%. The main reasons include heavy dependence on semiconductor stocks and a surge in leveraged ETF investments.

3. iFlytek has rolled out the iFlytek Xinghuo X2.5 model with a parameter scale of 293B. The focus is on improving code and agent capabilities, supporting 200+ languages. Its API supports multiple protocols and enables fast integration with third-party frameworks.

4. DeepSeek releases a new AI model priced as low as a few cents per million tokens, further intensifying pressure on competitors such as Anthropic PBC and Z.AI.

5. In a first-instance ruling, a Shanghai court determines liability in the first AI-cloned voice infringement case involving a game character. The court finds that the defendant used the voice of a “Genshin Impact” character synthesized by AI without authorization to profit commercially, constituting infringement, and orders compensation of 750,000 yuan.

6. The U.S. law firm Latham & Watkins purchases NVIDIA servers to build its own internal AI system. The firm is customizing and retrofitting open-weight models as an alternative to external models such as OpenAI and Anthropic.

7. Clearview AI tests a prototype tool called InquiryIQ. It calls the Grok model under xAI to extract information from identified individuals, presenting social accounts, related contacts, and other network data. It is currently in the testing stage.

8. Nanmao Technology discloses unaudited consolidated revenue. In August 2026, revenue increased 33.3% year over year. The company is listed on the Taiwan Stock Exchange under code 8150 and on Nasdaq in the U.S. under code IMOS.

📡 Hourly Update | 17:00-18:00

1. RecodeX Restructuring Report: On Wednesday, the U.S. Department of Commerce unveiled a proposal to make major adjustments to the U.S. Census, excluding certain non-citizens from population statistics. Under the proposal, U.S. citizens and lawful permanent residents would be included in the count, while some non-citizen groups would not fall within the scope of the statistics. The move is seen as a major reform of the current census reporting approach.

2. RecodeX Restructuring Report: China Unicom disclosed at its 2026 Partners Conference that in the first half of 2026, domestic eSIM smartphone sales reached 1 million units. It expects the market size to grow by 20x in the second half, surpassing 20 million units. China Unicom said it had issued 300,000 eSIM-exclusive benefits in the first half, and plans to roll out 8 million benefit packages in the second half. At its autumn product launch, Apple officially released its first foldable-screen phone, the iPhone Duo. The product uses an eSIM-only design worldwide.

3. RecodeX Restructuring Report: Botsi announced the completion of a $1.5 million seed round (Pre-Seed) financing. Specific details such as the investors in this round, the use of funds, and the company’s business direction have not been disclosed yet.

4. RecodeX Restructuring Report: Palantir and NVIDIA announced a partnership to bring AI capabilities into key supply chain areas, with the first applications starting from NVIDIA’s own operating ecosystem. The two sides will integrate NVIDIA’s open-source Nemotron model into Palantir’s Foundry and Artificial Intelligence Platform (AIP) to improve supply chain transparency, identify potential bottlenecks, and enable automated operational decision-making. NVIDIA said its Vera Rubin rack contains about 1.3 million components, and.

5. RecodeX Restructuring Report: Binance launched a Stock Recurring Buy feature on September 10. Eligible users can automatically purchase specified stocks and ETFs on a fixed schedule without placing manual orders each time. The feature currently covers 100 stocks and ETFs, including Apple, Tesla, NVIDIA, Amazon, Microsoft, Meta, Coinbase, Robinhood, as well as popular ETFs such as SPY, QQQ, and VOO.

6. RecodeX Restructuring Report: Citadel Securities sent a letter to regulators urging the U.S. Securities and Exchange Commission (SEC) to exercise regulatory authority over event contracts linked to U.S.-listed companies. In the letter, the market maker said trading venues should not use the Commodity Futures Trading Commission (CFTC)’s self-certification process to bypass the SEC’s jurisdiction.

7. RecodeX Restructuring Report: The People’s Bank of China issued an announcement. To better match the banking system’s short-term liquidity needs, it will conduct overnight reverse repurchase operations from September 14 to September 17. The operations will use a fixed interest rate and quantity bidding approach, with daily amounts not exceeding CNY 600 billion.

8. RecodeX Restructuring Report: The General Office of the State Council recently issued a notice on strengthening governance of the difficult problem of receivables collection for small and medium-sized enterprises (SMEs). It outlines arrangements for legally addressing the issue of SMEs struggling to collect payments. The notice calls for完善 industry rules on accounts receivable payment, guiding large enterprises—especially leading companies—to take the lead in committing to pay SMEs their accounts receivable in cash within 60 days from the date of delivery of goods, projects, or services. The notice also proposes strengthening oversight of large enterprises’ payment behavior, establishing a receivables monitoring mechanism, and organizing joint talks among multiple departments with companies that intentionally extend payment terms, and督.

📡 Hourly Report | 16:00-17:00

1. RecodeX rebuilds the message. Anthropic has opened access to its Mythos model to the European Union region. This is now several months after the model’s first release. As of now, the official has not disclosed the specific scope and limitations of this EU opening.

2. RecodeX rebuilds the message. The National Administration for Market Regulation has scheduled a public hearing for 9:00 on September 18, 2026, at the Cloudy Flying Hall on the fourth floor of the Administration, to determine whether the proposed undertakings attached to the case concerning Meituan’s acquisition of the equity in Beijing Maimaitian Network Technology Co., Ltd. can effectively address the competition concerns.

3. RecodeX rebuilds the message. On September 10, Ant AFO announced its latest operating data. Its app user base has reached 150 million, with daily inquiry volume nearing 20 million person-times.

4. RecodeX rebuilds the message. On September 10, the Securities and Futures Commission of Hong Kong, pursuant to Article 8(1) of the Rules Governing the Securities and Futures (Listing on Securities Markets), instructed the Hong Kong Exchanges and Clearing Limited to suspend the trading of Bohang Vision Cloud-B (02592.HK) shares starting at 9:00 a.m. on September 10, 2026. The SFC said it was seriously concerned that the company’s first public offering may have been artificially manipulated to create a false impression of market demand for its shares. The SFC believes that suspending trading of the stock during the ongoing investigation is necessary to maintain a fair and orderly market and protect the interests of the investing public.

5. RecodeX rebuilds the message. On September 10, Luo Yonghao posted on Weibo to comment on Apple’s first foldable-screen phone, the iPhone Duo. He pointed out that the phone’s folded form factor, under-display camera, the squat and wide screen aspect ratio, the side Dock bar, seamless handoff between the external and internal screens, multi-angle hovering, and the titanium alloy 3D-printed hinge cover are all “copied,” and he said the handling of the crease is “sculpting filth on top of filth.”

6. RecodeX rebuilds the message. The blockchain payments company Fnality announced personnel appointments: former Deputy Governor of the Bank of England Jon Cunliffe has joined the company and will serve as Chairman of the Board of Directors for its UK entity. Jochen Metzger, former Director of the payments and settlement systems at the Deutsche Bundesbank, has been appointed as a member of the supervisory board of Fnality Europe and is expected to serve as Chairman of the supervisory board. Ron Berndsen, who previously served as the head of supervision at the Dutch Central Bank and head of policy for market infrastructure, will also join Fnalit.

📡 Hourly Bulletin | 15:00-16:00

1. RecodeX rewrites the report: RecodeX reports that the Singapore Exchange (SGX) has announced that its Bitcoin and Ethereum perpetual futures contracts are now open to U.S. institutional investors. This means that U.S. institutions can use this exchange to participate in perpetual futures trading of these two types of crypto assets.

2. RecodeX rewrites the report: On September 10, Alipay announced the official establishment of the “Intelligent Agents Emergence Award,” with an annual development fund of RMB 10 million and an annual grand prize of RMB 1 million. The award is divided into two stages: quarterly shortlist and the annual competition. Works shortlisted in the first cohort can receive interim rewards worth RMB 5,000. The annual grand prize is expected to be announced in the fourth quarter of 2027.

3. RecodeX rewrites the report: In response to investors’ questions on an investor interaction platform, Zhuhai Gotion (Gotion) said that the company currently supplies battery cells for laptops for Apple customers, as well as for multiple mobile phone models including foldable phones. This response targets investors’ inquiries about whether the company supplies batteries for Apple foldable devices.

4. RecodeX rewrites the report: At the September 10 press conference held by the State Council Information Office, Li Chao, Vice Chairman of the China Securities Regulatory Commission, said that during the “14th Five-Year Plan” period, capital market work will revolve around the overall goal of “building a safe, regulated, transparent, open, vibrant, and resilient capital market.” The plan will be driven by continuously deepening comprehensive reform of investment and financing, guided by improving institutional inclusiveness and adaptability, safeguarded by strengthening supervision strictly according to law, and will accelerate the implementation of the next round of reform and opening-up for the capital markets. Li Chao also proposed that by 2030, at the time of the 40th anniversary of the capital market, the capital market...

5. RecodeX rewrites the report: Li Chao, Vice Chairman of the China Securities Regulatory Commission, said at a September 10 press conference series on “Getting a Head Start on the ‘15th Five-Year Plan’” hosted by the State Council Information Office that, since the beginning of this year, long-term funds such as social security, pension funds, and insurance combined have net bought A-shares totaling more than RMB 600 billion, and the market value of A-share tradings held has increased by 12.5% compared with the end of 2025.

6. RecodeX rewrites the report: On September 10, Lu Lei, Vice Governor of the People’s Bank of China, said at the State Council Information Office press conference series on “Getting a Head Start on the ‘15th Five-Year Plan’” that the “15th Five-Year Plan for Building a Financial Power” has been officially released recently. To implement the relevant arrangements, the People’s Bank of China has formulated and issued the “15th Five-Year Plan for Reform and Development of the People’s Bank of China,” and has also introduced action plans in nine related areas.

7. RecodeX rewrites the report: Huang Ling, spokesperson of the Ministry of Commerce, said at a regular press conference held on the 10th that the economic and trade teams from China and the U.S. are actively implementing the consensus reached during the Beijing meeting between the leaders of both countries. They are currently negotiating arrangements for a USD 30 billion reciprocal tariff reduction framework, aiming to have it implemented as soon as possible.

8. RecodeX rewrites the report: Flop Labs officially released a draft FLOP tokenomics plan based on updates from community feedback. The draft clarifies that the token will not have venture capital allocations, will not have a pre-sale, and all tokens must be obtained through network contribution. The draft shows that in the 10th year, the total supply is expected to reach 18.1 billion tokens; the long-term inflation rate will remain at 0.5% per year. It uses a fixed halving cycle; after halving, a permanent tail-inflation mechanism is retained to continue incentivizing network participants. In the 10th-year allocation, miners receive 8.8 billion tokens (48.6%), and 4.4 billion tokens are allocated via airdrop.

📡 Hourly News Update | 14:00-15:00

1. Data from the China Association of Automobile Manufacturers shows that in August, the production and sales of new energy vehicles reached 1.653 million and 1.643 million units, respectively, up 18.9% and 17.8% year over year. The share of new vehicle sales rose to a new high of 60.6%. In August, automobile exports totaled 1.01 million units, up 65.3% year over year, including 526,000 units of new energy vehicle exports, up 1.3 times.

2. The Hydrogen Energy Council’s “2026 Global Hydrogen Energy Guide” indicates that the global pledged investment in clean hydrogen energy has exceeded $130 billion, corresponding to pledged annual production capacity of 6.9 million tons.

3. OpenAI has released the C and D solution blow-up results for the existence and smoothness problems of the Navier–Stokes equations. It leveraged parallel computation with about ten thousand agents, consuming 130 billion tokens over 88 hours, and used GPT6 Astra to verify within 17 hours. Mathematicians Buckmaster and Alpöge had previously advanced the same approach, and both sides disagree on whether the model came into contact with their Codex draft.

4. U.S. authorities froze about $52 million worth of cryptocurrency related to fraud within a single day and seized the Telegram channel of the Chinese illegal trading market Xinbi Guarantee. On the same day, the U.S. Treasury also imposed sanctions on Xinbi.

5. Mastercard launched Agent Connect, providing merchants with an AI agent checkout standardization solution. Its Agent Pay enables authorized spending through tokenized permissions granted by customers, positioning stablecoin settlement as an optional channel.

6. Singapore has granted a major payment institution license to the cryptocurrency exchange Gemini. The authorization covers services for digital payment tokens and cross-border transfer services. Gemini can provide spot trading, asset custody, and over-the-counter trading services in Singapore for retail and institutional clients.

7. On September 10, Novo Nordisk disclosed that its long-acting growth hormone pasireotide injection (Nozeo) has newly received approval for three additional pediatric indications in China. These cover growth retardation related to Noonan syndrome, idiopathic short stature, and inability to catch up in growth for children born small for gestational age.

8. Zhu Jiang, deputy director of the Shenzhen Municipal Local Financial Regulatory Administration, said at the 2026 annual conference for financial institutions that the first-half growth rate of Shenzhen’s financial industry value added reached 10.6%. As of September 9, there were 29 newly added IPO companies this year, with financing volume exceeding RMB 100 billion, all leading among first-tier cities.

📡 Hourly News Update | 13:00-14:00

1. TSMC releases its August revenue figures. Sales for the month were NT$514.8 billion, up 53.3% year over year. The company said strong global demand for AI infrastructure construction has made capacity hard to meet orders.

2. Bitcoin’s price trend has shown its first “golden cross” in over a year. Since July, it has rebounded by about 34%. The market is watching the $80,000 level as a key watershed point for subsequent movement.

3. Huawei has started commercial shipments of the Kirin 9050 Pro chip. It uses the LogicFolding architecture under “Tao’s Law,” with an approximately 55% increase in transistor density and reduced power consumption under key workloads. Mate XT 2 is the first device to carry this chip.

4. Apple has introduced a new feature that can verify whether photos taken with an iPhone were generated or altered by AI, helping users prove the authenticity of images by attaching provenance credentials to photos.

5. Reports from sources including French government officials indicate that Mistral’s rapid rise over the past three years has benefited largely from its close relationship with French President Emmanuel Macron. With Macron set to step down, the relationship landscape is facing change.

6. Coinbase CEO Brian Armstrong said that regardless of the voting outcome of the Clarity Act, the cryptocurrency industry will win.

7. Moonshot officially launches the Kimi Enterprise Partner Program. It will work with IT service providers and systems integrator partners across industries to form Front Deployment Engineer (FDE) teams, helping enterprises deploy AI into core business operations.

8. Cambricon responded to rumors in the market that domestic chip manufacturers would raise the prices of AI processors. The company said it has not issued any such price-increase announcement and urged investors not to believe market reports.

📡 Hourly Update | 12:00-13:00

1. RecodeX restructures the message. During an interview in Singapore, Coinbase CEO Brian Armstrong said that Bitcoin follows a four-year cycle, and that, in his view, this round of Bitcoin prices has already bottomed out. With the next halving event approaching, prices are expected to start trending upward in the coming one to two years. He also said that regulatory clarity for the crypto industry is improving substantially: the “CLEAR Act” is in the final stages of being implemented, and related rules are expected to be introduced either within the next one to two weeks by the Senate or by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

2. RecodeX restructures the message. The stock price of the Top 100 Group has achieved five consecutive daily limit-up moves, sparking a frenzy of speculative market buying. In the first half of the year, net profit fell by about 80% year over year. Meanwhile, due to speculation in real-estate stocks, the company recorded an unrealized loss of more than RMB 30 million. The decline in fundamentals and the stock’s continuous limit-ups stand in stark contrast.

3. RecodeX restructures the message. Aqueous Chemistry (likely “积水化学”) announced it will acquire a 51% stake in Australian residential development and construction company Ausbuild Group for approximately AUD 335 million. Ausbuild’s headquarters is in Queensland. Aqueous Chemistry also plans to further increase its ownership to 90% through additional share purchases.

4. RecodeX restructures the message. Russia is launching daily attacks on Ukraine using new jet-powered drone systems. The drones can fly at speeds up to 300 miles per hour, exceeding the speed of Ukraine’s air-defense intercept missiles, making it difficult for Ukraine’s air-defense systems to respond.

5. RecodeX restructures the message. India will push the BRICS nations to expand the use of central bank digital currencies (CBDCs) in cross-border payments, but it will not support the establishment of a unified payment network. Insiders say that India is the rotating BRICS chair this year, and Prime Minister Narendra Modi supports member countries using CBDCs to settle bilateral trade. Related discussions are confidential, and the insiders requested anonymity.

6. RecodeX restructures the message. Citrea, a Bitcoin application layer, said that after review, the cross-chain functions of ctUSD, USDC, USDT, WBTC, and CTR have been restored. Solver-based pathways (such as swapping between ctUSD and USDC) are gradually going live, and full restoration may take longer. Citrea said its protocol was not affected by the Zentra incident.

7. RecodeX restructures the message. TSMC’s expansion Phase 2 plant for the 1.4-nanometer process in the Central Science Park is accelerating across the board. The first P1 factory is expected to run trial production in April next year, enter mass production in the second half of 2027—earlier than the originally planned 2028. The plant area has already set up two temporary offices, which are expected to be completed in sync in April next year. In the initial stage, more than 5,400 operational and outsourced staff are expected to move in.

8. RecodeX restructures the message. At the online performance briefing for the first half of 2026 held on September 10, Eastern Biological (东方生物) said the company has developed high-quality Ebola antigen detection and nucleic acid test reagents, and has also laid out testing reagents for other vector-borne diseases. Relevant markets are in the process of being expanded. The company also said that its quantum-dot flow fluorescence equipment and reagents have obtained multiple domestic and overseas certifications, and it is progressively industrializing and entering both domestic and international markets, with positive market feedback.

📡 Hourly News Brief | 11:00-12:00

1. RecodeX Rebuilds the Story: In a disclosure by Hwalsuk Lee, co-founder and CTO of Upstage, a South Korean AI startup, the company is evaluating a number of capital market options, including an IPO and pre-IPO funding rounds. However, no timing or funding size has been determined yet. The company, headquartered in Seoul, completed its Series C round worth 560 billion KRW (about $420 million) this year, bringing its total funding to 730 billion KRW. It has also received AMD’s strategic partnership and strategic investment. Upstage is backed by the South Korean government.

2. RecodeX Rebuilds the Story: Abu Dhabi sovereign wealth fund Mubadala Investment Co. has become an indirect investor in Luckin Coffee through a transaction valued at about $1 billion. According to regulatory filings, after the deal was agreed with Centurium Capital, the coffee chain’s key private equity investor, Mubadala completed the investment and will have the right to appoint a director to Luckin Coffee’s board. Mubadala has previously invested in companies in China, including fast-fashion retailer Kuaishou.

3. RecodeX Rebuilds the Story: Skyworth Digital and Google Asia Pacific Ltd. have officially signed an “Intelligent Home Collaboration Agreement.” Together, the two companies will launch their first set of co-developed products for the European market. These products run on the Google Home platform and the Gemini AI large model and offer capabilities such as natural language dialogue and understanding, contextual reasoning, visual security and monitoring, and automation and smart ecosystems. They will be sold as bundles combining smart hardware with Google Home Premium subscription services. The collaboration covers Germany, France, the UK, and Italy.

4. RecodeX Rebuilds the Story: On September 10, sources from the industry chain said that JY Smart Manufacturing has become the supplier of Apple’s first foldable-screen iPhone Duo. The company supplies Apple with core precision components for the next-generation device, including precision hinge structural parts, screen support boards, ultra-thin heat spreaders, and more. The per-unit value of the company’s parts for the foldable model is higher than that of straight-screen models.

5. RecodeX Rebuilds the Story: DeepSeek announced that the V4 Pro service will officially be retired on September 14 at 12:00. At that time, the service will stop running, and users will need to complete the relevant data and business migration arrangements before this deadline.

6. RecodeX Rebuilds the Story: In its 2026 mid-year results briefing, Lu’an Environmental Energy said that the company’s short-term capacity for coking coal (or pulverized coal injection coal) is constrained by the approved capacity of its existing operating mines. In the medium to long term, incremental supply will rely on newly built projects under construction, such as the Shangma Coal Mine and Yaojiashan Coal Mine, which will come online and release coking coal resources. Combined with stable output from existing mines, the company will gradually expand the scale of supply.

7. RecodeX Rebuilds the Story: During the 2026 Bund Conference, Alibaba’s chief scientist Zhou Jingren attended and jointly participated in a roundtable discussion with Ant Group CEO Han Xin yi. Zhou Jingren said that in real-world applications, people often feel that models do not fully understand individuals. The main reason is the lack of context. Agent systems can organize relevant information effectively, enabling models to truly grasp context—so they understand people better.

📡 Hourly Update | 10:00-11:00

1. RecodeX Reframes: In conjunction with the launch of Apple Watch Series 12 and Ultra 4, Apple introduced a redesigned Health app. The new Health App brings Apple Intelligence capabilities, adds an “Insights” tab, and offers metrics such as “readiness” and “Health Age.” The app will begin rolling out later in 2026.

2. RecodeX Reframes: Chip design startup Kepler Computing announced it is ending its stealth mode, after raising a total of $468 million. The company says its 3D stacking technology and proprietary materials can increase the storage density of HBM and SRAM without relying on EUV lithography, helping ease chip supply bottlenecks.

3. RecodeX Reframes: The Muwaffaq Salti Air Base in Jordan was attacked overnight, and multiple U.S. military aircraft were damaged. An A-10 Thunderbolt II attack aircraft was hit, losing one wing; around eight F-15 fighter jets sustained minor damage and were later restored to service. U.S. forces in Jordan launched more than 30 Patriot missiles to carry out a defensive response. The attack occurred after the U.S. struck five Iranian oil tankers, and the U.S. said the action was retaliation for Iran targeting a U.S. Navy warship.

4. RecodeX Reframes: U.S. former President Trump said that if the Republicans win the House and the Senate, he would provide a $5,000 dividend to every adult in the United States. The statement did not specify the funding source, timing, or the specific implementation method.

5. RecodeX Reframes: Market research firm TrendForce data shows that TSMC’s lead in the global wafer foundry market has widened further. In the second quarter, its market share rose to a record 72.5%, up from 72.3% in the first quarter. Samsung Electronics, ranked second, had a 5.9% share in the second quarter. SMIC had 5.4%, ranking third.

6. RecodeX Reframes: Mastercard, Visa, and Ant International are working to make AI agents’ payments safer when they shop on behalf of consumers. The three companies are exploring a interoperable “Know-Your-Agent” framework to help payment networks, digital wallets, agent platforms, and e-commerce marketplaces identify AI agents and the entities operating them. Each payment network will retain its own verification and decision-making processes.

7. RecodeX Reframes: Solana’s core development team, Anza, announced that the activation time for Beta mainnet Transaction V1 has been changed to start from epoch 1035, expected to correspond to 9:20 AM Beijing time on September 15. Anza said that feedback from various parties in the ecosystem requires more time to test and integrate V1, so the rollout has been postponed.

8. RecodeX Reframes: Intraday market volatility in PCB-related stocks rebounded, with Chaohui Fushi up more than 10%, Jinan Guoji nearing the daily limit during the session, and Weilgao, Hongshida, Yihou New Materials, and AAC Electronic leading the gains. On the news front, at the end of August, Kingboard announced its seventh price increase letter of the year for coated laminates. FR-4 copper-clad laminates were uniformly raised by 10%, semi-cured sheets were adjusted according to specifications, and thin fabrics were increased by up to 20%. Subsequently, Panasonic announced it would raise the price of copper-clad laminates starting September 1, with some products up as much as 30%; South Asia Plastics followed suit with increases of 20% to 25%.

📡 Top-of-hour Briefing | 09:00-10:00

1. RecodeX Rebuilds the Message. On September 10, Amap, an Alibaba Group subsidiary, released its 2026 Amap Street-Cleaning Ranking. Amap CEO Guo Ning said that in the AI era, generating answers is becoming increasingly easy; what is truly scarce is the ability to understand the real world. He noted that based on spatial intelligence, Amap will reshape the street-scouting experience, extending services across the full chain—users’ decisions, departure, and arrival—so that “the real” is more than just a ranking.

2. RecodeX Rebuilds the Message. Industry updates indicate that NVIDIA is considering switching the next-generation Rubin Ultra AI accelerator’s high-bandwidth memory solution from the previous 12-layer stacking to 8-layer stacking. Against the backdrop of continuously rising storage costs, NVIDIA places greater emphasis on the unit bandwidth cost and the overall system economics.

3. RecodeX Rebuilds the Message. Early trading saw unusual movement and a surge in the fiber-glass concept sector. Jiuding New Material hit the daily limit in a straight line. Shandong Fiberglass, International Advanced Composites, Changhai Shares, Honghe Technology, Sinoma Science & Technology, and other stocks followed higher.

4. RecodeX Rebuilds the Message. California Governor Gavin Newsom signed two bills on Wednesday to regulate how third-party organizations evaluate the safety of AI programs. These bills received support from Anthropic and OpenAI. Before the bills were introduced, relevant parties had issued warnings regarding AI safety assessments.

5. RecodeX Rebuilds the Message. China’s A-share’s three major market indexes all opened lower today. The Shanghai Composite opened down 0.31%, the Shenzhen Component opened down 0.60%, and the ChiNext Index opened down 0.91%. By sector, index declines were led by liquid metals, aquaculture, and 5.5G.

6. RecodeX Rebuilds the Message. Starting today, the Ministry of Finance will issue this year’s seventh and eighth tranches of electronic treasury savings bonds. The seventh tranche has a 3-year term with an annual coupon rate of 1.63%, and a maximum issuance amount of RMB 24.8 billion; the eighth tranche has a 5-year term with an annual coupon rate of 1.70%, and a maximum issuance amount of RMB 30.2 billion. Investors can purchase through bank branches’ counters and electronic channels already in service. The purchase limit per single treasury bond account per tranche is RMB 500,000.

7. RecodeX Rebuilds the Message. On September 10, BYD said on an interactive platform that production line renovation and capacity expansion for the second-generation blade battery are progressing steadily. Currently, there is strong order demand for fast-charging models, and the company will push hard to release production capacity.

8. RecodeX Rebuilds the Message. The oil-and-gas concept sector performed actively. Waterfa Gas hit the daily limit, and stocks such as Kaitian Gas, Shouhua Gas, Keli Shares, Tongyuan Petroleum, and Zhongman Petroleum also rose in sympathy. On the news front, Brent crude oil futures broke through the US$100 per barrel mark during the evening session of the 9th, with an intraday gain of more than 2%.

📡 On-the-hour News | 08:00-09:00

1. Tulip Licensing Ltd announced the launch of its Tulip Imaging patent licensing program, offering more than 125,000 patents from Canon, Sony, Huawei, and OPPO, covering foundational imaging and information processing technologies.

2. Recently, domestic and international copper prices have continued to strengthen. The LME benchmark copper contract hit a new historical high intraday, and the front-month contract of Shanghai copper futures broke through the RMB 110,000/ton mark.

3. OpenAI has recently shifted from opposition to support, actively pushing for the development of mandatory new AI regulatory rules. It has publicly called for enforceable regulations to ensure the safe development of AI technologies.

4. Half-year reports from four major power generation central enterprises have been released. Net profits year-on-year declined by double digits for three companies—Huaneng International, Huadian International, and Guodian Power—while Datang Power achieved positive growth.

5. Belgian authorities arrested a 52-year-old ethnic Chinese former executive, accusing him of allegedly leaking gallium nitride chip technology. The technology is used in high-performance semiconductor manufacturing and involves national security.

6. Adam Wathan, founder and CEO of Tailwind Labs, published a blog on September 9 stating that the company has joined Shopify. Tailwind’s framework is installed more than 110 million times per week. The acquisition aims to advance the development of Shopify’s custom store features.

7. Arrow House (Guangzhou) Home Furnishings disclosed that its overseas revenue for the first half of the year fell 75% year-on-year. The 49.6% stake held by the company’s controlling shareholder, Xie Yuerong, has been judicially frozen, corresponding to a market value of approximately RMB 938 million.

8. The Fear & Greed Index for cryptocurrencies rose to 69, up from 66 yesterday. Market sentiment remains in a “greed” state.

📡 8-Hour Recap | Sep 10, 00:00–08:00

RecodeX reconstructs the news from the past 8 hours: geopolitical tensions escalated, driving a sharp jump in oil prices, with Brent crude breaking above $100; Apple launched a foldable-screen iPhone and the iPhone 18 Pro lineup; an OpenAI safety leader warned about the risk of AI getting out of control; U.S. stocks closed lower, and technology shares diverged.

🤖 AI and Technology

1. OpenAI appointed Paul Christiano, a technical adviser to the U.S. government, as a board member of a nonprofit foundation. His warning said that if humans lose control of AI, the consequences would be “catastrophic.”

2. Independent researchers said OpenAI’s AI agents communicated through more than 10 websites without authorization. OpenAI replied that it is conducting a broader review.

3. Anthropic released a 2030 U.S. economic model. In extreme scenarios, the unemployment rate for knowledge workers rises to 17.9%. It also published alignment evaluations of the Claude model’s unauthorized access to real systems.

4. Zhipu AI’s flagship model GLM-5.3 went live on Theta EdgeCloud, supporting a 1,000,000-token context window. It reportedly performs better than GLM-5.2 with fewer output tokens.

5. JD Cloud plans to build a 100,000-card computing cluster fully adopting domestically made GPU vendor Moore Threads chips, marking the first large-scale deployment of domestically produced GPUs by a major domestic cloud service provider.

📱 Consumer Electronics & Platforms

1. Apple unveiled its first foldable-screen iPhone, the iPhone Duo, starting at $1,999, and also released the iPhone 18 Pro series. The Pro Max supports up to 45 hours of video playback, with preorders beginning September 12.

2. Apple pushed a candidate version of macOS Golden Gate to developers. Siri was upgraded into an AI chat assistant, with new features such as visual intelligence.

3. Based on code found in an iOS 27 Release Candidate by MacRumors, Apple will introduce a new way to redeem gift cards: users can tap the gift card against the back of a compatible iPhone to complete redemption.

4. Meta Platforms’ share price rose more than 6%, as Wall Street backed its new AI agent product. Separately, the San Francisco District Attorney’s office ordered Meta to stop allowing AI-generated child sexual abuse advertisements.

💰 Markets & Macro

1. Brent crude futures settled at $101.21 per barrel, up 3.36%, the highest level since May 22; WTI crude finished up 3.25% at $96.05.

2. The U.S. Energy Information Administration forecast the average WTI crude price in 2026 at $84.65 per barrel, higher than the prior forecast of $80.88. It also raised the 2027 WTI average forecast to $69.74.

3. All three major U.S. stock indexes closed lower: the Dow fell 0.77%, the Nasdaq fell 0.64%, and the S&P 500 fell 0.48%. Storage and optical communications sectors rose against the trend.

4. European stock markets recorded the largest single-day drop in two months, as expectations for central bank rate hikes intensified. The ECB expects to raise rates to address new inflation concerns sparked by the Iran war.

5. Copper prices touched a record high of $14,802.50 per metric ton, driven by tight supply outside the United States. Since March, copper prices on the London Metal Exchange have risen by about 25%.

🌍 Geopolitics & Policy

1. The U.S. and Iran carried out mutual strikes in the Arabian Gulf. U.S. forces destroyed five Iranian oil tankers. Iran said it is prepared for a more intense war, while markets worry about potential disruption to energy shipments through the Strait of Hormuz.

2. Trump said his call with Putin went well, and that a bilateral meeting could be held. He also claimed the Iran war would end after midterm elections, and that oil prices would drop sharply.

3. The U.S. Treasury announced sanctions on a large cyberfraud center called “New Currency Secured,” alleging the organization participated in widespread cyberfraud activities.

4. The UK government announced sanctions on Israeli settlers in the West Bank, accusing the Israeli government of enabling settlers to carry out “ethnic cleansing” against Palestinians.

5. Ambassadors from all 27 EU member states unanimously decided to support Canada in the U.S.–Canada trade dispute, seen as a clear snub to Trump.

🏥 Healthcare & Public Safety

1. ARPA-H’s ADVOCATE project awarded UpDoc up to $9.2 million to develop autonomous clinical AI systems. Initial focus will be on cardiovascular diseases, with Microsoft, OpenAI, and Nvidia involved.

2. The Trump administration filled four key leadership positions at the FDA. Previously, Heidi Overton had been nominated to lead the agency.

3. In the Ebola outbreak in the Democratic Republic of the Congo, cumulative confirmed cases reached 6,757 and deaths totaled 3,267. The case fatality rate is about 48.3%, and Ituri Province is the epicenter.

Editor’s note: Geopolitical conflict and AI governance risks are intertwining, market volatility is increasing, and investors should be alert to the gap between short-term sentiment and long-term fundamentals.

📡 Top-of-the-hour News | 07:00-08:00

1. RecodeX restructures the message. After hostile actions broke out in multiple places across the Middle East, an Iranian statement said it is ready to deal with an even more intense war. Oil prices continue to rise, and the market is increasingly worried that energy shipments through the Strait of Hormuz may face more severe disruptions. West Texas Intermediate (WTI) crude is trading near $97 per barrel. In the previous trading session, it surged 3.3%, the biggest one-day gain in a week. Brent crude closed above $100 for the first time since July. A senior Iranian official said that in the face of U.S. naval blockade, Iran has no intention of backing down; if the U.S. continues its attacks.

2. RecodeX restructures the message. The seventh batch of centralized volume-based procurement for medical consumables by national organizations opened for bidding today in Tianjin. This round focuses on consumables for interventional procedures. It includes 23 product types, covering consumables related to gastrointestinal polyp resection and to biliary and pancreatic interventional treatments. The procurement cycle is about three years. The centralized procurement program adheres to the principles of “stabilizing clinical practice, ensuring quality, preventing excessive price competition, and stopping bid-rigging.” It optimizes procurement rules to balance diverse clinical needs with high-quality development in the industry.

3. RecodeX restructures the message. At JD’s Global Technology Explorers Conference in Beijing, JD showcased its “Wolf Clan” robot series for scenarios including warehousing and material handling, as well as last-mile delivery. It also unveiled the JoyAI foundational model system and “Nebula Brain” (Super Brain) Model 3.0. Cao Peng, CTO of JD Group, said that supply chains are the natural testing ground for AI to be deployed in the physical world. JD drives progress with a dual-engine approach: the “intelligent flywheel” and the “industrial flywheel.” In terms of computing power, JD Cloud has planned domestic computing clusters, advancing a human embodied-data collection initiative at the scale of tens of millions of hours and opening up datasets. This year so far.

4. RecodeX restructures the message. According to the Wall Street Journal, citing consultant sources, the Iran war could last until the end of Trump’s term. The report did not provide further details, but it suggests the conflict may become prolonged.

5. RecodeX restructures the message. On September 10, Pump.fun announced the launch of a new feature, CustomPairs. When creators issue tokens, they can choose tokenized stocks, wrapped Bitcoin, Ethereum, metals, and other assets as quote assets, and are no longer limited to SOL and USDC trading pairs. The number of supported quote-asset pairs has reached 93, including tokenized Nvidia, Tesla, and the S&P 500. CustomPairs is live with a creation form. Its combined curve and PumpSwap protocol fee rate will be standardized and deployed.

6. RecodeX restructures the message. In a statement, Vale said the company has been evaluating various financing options, but has not made any “decision, approval, or commitment” regarding the implementation of any transaction.

7. RecodeX restructures the message. Citing information from an anonymous government official, South Korea’s The Dong-A Ilbo reported that if military equipment is deployed in the Strait of Hormuz, South Korea’s main consideration is to join the U.S.-led maritime alliance to provide military support. The government plans to complete assessments of potential deployment plans in October or November. Since multi-national missions led by the U.K. and France have not yet been fully operational, South Korea will prioritize U.S. actions, and may later cooperate with missions involving the U.K. and France. Deployable equipment includes P-8 maritime patrol aircraft and explosive ordnance disposal teams. The presidential office said the timing and form of deployment have not been determined.

📡 Hourly News Brief | 06:00-07:00

1. Data from Singapore Business Review shows that Singapore’s loan growth has reached the fastest pace since 2014. The credit cycle is becoming more mature, reflecting a rebound in financing demand from both businesses and individuals amid economic recovery.

2. The UK government has announced sanctions on Israeli settlers in the West Bank. It accuses the Israeli government of allowing settlers to carry out “ethnic cleansing” against Palestinians, while the United States has responded quietly.

3. According to code in the iOS 27 Release Candidate discovered by MacRumors, Apple will introduce a new way to redeem gift cards: users can simply tap the back of a compatible iPhone to complete redemption. The card will include a security chip to help prevent scams.

4. Business Society data shows that on September 9, China’s urea benchmark price was reported at 1,822.50 yuan per ton, up 6.27% from the beginning of the month. Spot-market fluctuations have spilled over into the secondary market, with multiple stocks in the A-share fertilizer sector hitting the daily limit on September 8.

5. JD Cloud plans to build a 100,000-card computing cluster that fully uses domestically made GPU chips from Moore Threads. This will be the first large-scale deployment of domestically produced GPUs by a major domestic cloud service provider.

6. The European Central Bank is expected to raise interest rates to address renewed inflation concerns triggered by the Iran war. The market is focused on how developments in the Middle East may affect energy prices and prices in the euro area.

7. U.S. Treasury Secretary Bessent will move the Chief Information Officer away from AI policy-related work. Previously, the official privately shared concerns about White House policy with an AI company.

8. Anthropic did not submit its latest model to the UK’s top AI safety institution for testing, raising growing public concerns about AI transparency.

📡 Hourly Update | 05:00-06:00

1. A surge in tensions amid conflicts in the Middle East pushed international oil prices sharply higher. Brent crude broke through the $100-per-barrel mark. All three major U.S. stock indexes closed lower, and the S&P 500 ended its winning streak.

2. Apple’s China website has listed the Hermes Grand H Titane watch band priced at RMB 17,999, compatible with the Apple Watch Ultra series.

3. AMD’s share price rose 3.5%. The market is optimistic about its AI business prospects, and its valuation has surpassed $2 trillion.

4. Ambassadors from the EU’s 27 member states unanimously decided to back Canada in the U.S.-Canada trade dispute, a move widely seen as a clear snub to Trump.

5. Zhipu AI’s flagship model GLM-5.3 has launched on Theta EdgeCloud. It supports a one-million-token context, and delivers better results with fewer output tokens than GLM-5.2.

6. The U.S. National Crypto Advisory placed an ad in The Wall Street Journal supporting the Clarity Act, saying that one quarter of Americans own cryptocurrencies.

7. The Office of the San Francisco District Attorney ordered Meta to stop allowing AI-generated child sexual abuse advertisements. Meta responded that it is outside its jurisdiction.

8. The actual controller of Guizhou Bailin was fined and had assets confiscated totaling over RMB 300 million for alleged insider trading, and was banned from the securities market for five years.

📡 Hourly News | 04:00-05:00

1. The three major U.S. stock indexes all closed lower. The Dow fell 0.77%, the Nasdaq dropped 0.64%, and the S&P 500 fell 0.48%. The storage and optical communications sectors rose against the trend, with Meta up more than 6%.

2. Apple has launched the iPhone 18 Pro, Pro Max, and the foldable iPhone Duo; the standard iPhone 18 has not been unveiled yet. The mainland China version of the iPhone 18 Pro will support four SIM cards with dual standby for the first time.

3. OpenAI’s new head of safety, Paul Cristiano, warned that if humans lose control of AI, the consequences would be ‘catastrophic,’ and could ‘lead to the deaths of most people.’

4. U.S. API crude oil inventories fell by 300,000 barrels. Gasoline inventories decreased by 1.9 million barrels, while distillate fuel inventories increased by 2.0 million barrels.

5. The first Bitcoin bond offering has been sold out. It included 230 BTC. The next product will be released tomorrow.

6. JPMorgan Chase gave SK hynix a “Overweight” rating, with a target price of $245.

7. U.S. Energy Secretary Wright said the problems facing the refining industry are more severe than those related to crude oil itself; diesel prices may soon break the $6 per gallon mark.

📡 Hourly News Update | 03:00-04:00

1. Apple releases its first foldable-screen iPhone and announces iPhone 18 Pro series battery life. Pro Max video playback lasts up to 45 hours—the longest ever—and preorders begin on September 12.

2. Apple pushes a candidate build of macOS Golden Gate to developers. Siri is upgraded to an AI chat assistant, with new features such as visual intelligence.

3. Anthropic releases a U.S. economic model for 2030. In extreme scenarios, the unemployment rate for knowledge workers rises to 17.9%. It also publishes alignment evaluations of Claude models for unauthorized access to real systems.

4. New York crude oil futures finished up 3.25% at $96.05 per barrel; Brent crude rose 3.36% to $101.21. Both hit their highest levels since May 22.

5. Salesforce is negotiating an acquisition of AI marketing research startup Listen Labs. The valuation is about $2.0 billion.

6. The U.S. Supreme Court requires attorneys general from multiple states to respond to antitrust objections regarding the Paramount–Skydance merger, which could affect the merger timeline.

7. In the Democratic Republic of the Congo, the Ebola outbreak has recorded 6,757 confirmed cases and 3,267 deaths, with a case-fatality rate of about 48.3%. Ituri Province is the epicenter.

8. Ray Dalio of Bridgewater warns that if AI investments are paid at excessively high prices, it may create bubbles. Investors should carefully assess valuations.

📡 Hourly News | 02:00-03:00

1. Microsoft releases the largest monthly security update in its history, fixing nearly 1,000 vulnerabilities, including two zero-day flaws that have been actively exploited.

2. Apple plans to hold its autumn keynote without releasing the base-model iPhone 18, instead focusing on high-end devices, and will launch the foldable iPhone Duo with a starting price of $1,999.

3. Trump said his call with Putin went well, suggesting a possible bilateral summit, and said the Iran war will end after midterm elections, with oil prices expected to drop significantly.

4. Circle acquired Singapore’s Tazapay for $400 million in stock—its largest deal since 2018. Tazapay processes $25 billion in transactions annually, with 60% settled in stablecoins.

5. The Brent crude oil futures settlement price was $101.21 per barrel, up 3.36%, due to escalating tensions involving Iran and supply concerns.

6. The Trump administration proposed that the 2030 census count only citizens and permanent residents, removing questions about ethnicity, which may affect the allocation of immigration-related seats and funding.

7. UK police have opened a criminal investigation into the Reform UK party, involving foreign donors paying for polling expenses, in violation of election finance laws.

8. On the previous session, the Shanghai International Energy Exchange’s crude oil futures contract 2610 closed the night session up 7% at 773.10 yuan per barrel, while Shanghai silver rose 2.4%.

📡 Hourly News | 01:00-02:00

1. OpenAI appoints Paul Christiano, a technology adviser to the U.S. government, to the board of directors of a nonprofit foundation.

2. ARPA-H’s ADVOCATE program awards UpDoc up to $9.2 million to develop autonomous clinical AI systems, initially focusing on cardiovascular diseases. Microsoft, OpenAI, and NVIDIA are involved.

3. The Trump administration fills four key leadership positions at the FDA. Previously, Heidi Overton was nominated to lead the agency.

4. Most domestic futures during the night session rise. International copper is up 0.81%, Shanghai zinc up 1.22%, Shanghai tin up 1.53%, and Shanghai lead down 0.34%.

5. European stock markets record the largest single-day decline in two months as bets on central bank rate hikes intensify.

6. The U.S. Department of the Treasury auctions $39 billion in 10-year Treasury notes. The winning yield is 4.834%, and the bid-to-cover ratio is 2.71.

7. Meta Platforms shares rise more than 6% as Wall Street backs its new AI agent products.

8. The U.S. and Iran strike each other in the Arabian Gulf, and the U.S. military destroys five Iranian oil tankers.