Odaily News: According to investors, embodied intelligence unicorn company Zhiyuan Innovation has recently launched a new round of financing, raising approximately RMB 1 billion to 1.5 billion. This round is nearing completion, with the latest valuation at approximately RMB 50 billion. In July 2026, Zhiyuan announced the commencement of preparations for a Hong Kong stock exchange listing. At the time, investors said Zhiyuan was expected to list as early as August, with a target valuation of HKD 40 billion to 50 billion.According to the relevant requirements of the Hong Kong Stock Exchange, if a listing applicant completes new financing after filing but before listing, unless a special exemption is obtained, the applicant must wait 120 days after the financing is completed before it can be listed for trading. The aforementioned investors said the new funding round means Zhiyuan will be unable to complete its IPO within this year. Regarding the new financing, valuation, and IPO progress, a relevant person in charge at Zhiyuan said there is no comment for now. (Caijing Magazine)

Odaily reports that Metaplanet, Japan's largest Bitcoin treasury company, has announced the termination of an approximately $481 million share buyback facility established in October 2025, under which no shares were repurchased during its effective period. During this time, Metaplanet prioritized purchasing Bitcoin through borrowing and advanced M&A activities including the acquisition of Metaplanet Securities and a strategic investment in Super League Enterprise.

Odaily: ASML Holding NV (ASML.O)'s capacity expansion guidance has become a key focal point on its earnings release day. As the semiconductor sector's rally loses momentum, investors are eager for signs of confidence, making the capacity guidance all the more significant. After a strong rally in the first half of the year, semiconductor stocks have recently cooled off. Following another decline in US chip stocks, South Korean chipmakers' shares fell to a two-month low on Tuesday. Over the next 48 hours, investors will closely watch the earnings performance of ASML and its key customer TSMC, hoping the two companies can shore up market confidence.Ben Barringer, Head of Technology Research at Quilter Cheviot, said: "Capacity is the biggest focus for the market right now. With no visibility into order data and limited backlog information, it is crucial for the company to raise its capacity targets." ASML previously stopped disclosing quarterly order data, citing significant order volatility, and instead began providing guidance on the number of units it expects to produce this year and in the coming years. Investors are increasingly relying on this metric to gauge demand strength and ASML's ability to expand supply. (Jinshi)

Odaily News: Alpaca has announced plans to launch a prime brokerage business in Q1 2027, providing financing, asset custody, and securities lending services to large institutional investors such as hedge funds. Currently, Alpaca custodies over $3.5 billion in U.S. underlying equity assets and supports tokenized products from more than 10 issuers, including Binance, Coinbase, and Crypto.com. Its assets under custody have grown approximately 8x compared to a year ago.

Odaily News: According to KB Securities analysts E.T. Lee and D.E. Lee, although the AI boom has kept semiconductor companies' profit expectations elevated, the pullback in South Korean chip stocks may partly reflect investors' skepticism about earnings sustainability. Samsung Electronics and SK Hynix shares fell for a fifth consecutive trading session.The two analysts wrote in a report, "Investors still appear to view semiconductors as a cyclical industry and remain skeptical about the sector's ability to sustain earnings generation." They noted that while supply bottlenecks can drive profit surges during boom periods, the eventual easing of supply bottlenecks could lead to excess inventory and overinvestment. They added that similar patterns have also emerged in industries such as post-pandemic diagnostic test kits, masks, toilet paper, and container shipping. (Jinshi)

1. Papertrade's revenue rose to $4.02 million in the past 24 hours, surpassing Pump and Hyperliquid;2. Institutional capital absent? KRX after-hours market marks one month, 90% of trading volume comes from retail investors;3. DeepSeek to complete 10 billion yuan financing;4. $7.58 million worth of PUMP transferred to Coinbase Prime, suspected to be from the team or early investors;5. After years of dormancy, a Bitcoin OG transferred out all 4,582 BTC, worth $378 million;6. ETH/BTC fell below 0.03 for the first time since August 19, hitting a low of 0.02970;7. Serenity: AI supply chain investment opportunities are diverging, bullish on memory chips and the 2027-2028 optical communication super cycle;8. US media: OpenAI reportedly plans to "revive" Sora.

Odaily reports: According to monitoring by @rrealist, their residence in the UK was broken into. They were tied up and had a knife held to their face, with the attackers threatening to kill them. Approximately $800,000 in assets were stolen in total. Of that, $40,000 came from a main wallet, and $720,000 came from a Ledger hardware wallet. A Rolex watch was also taken, and a phone was smashed on the spot. @rrealist stated they were not seriously injured, only suffering minor bruises. Police have since intervened, and the residence has been designated a crime scene. The Solana wallet they disclosed (B3pMs3…arCR) has a balance of approximately 346.12 SOL.

Odaily News: South Korea Exchange (KRX)'s after-hours trading market for all stocks has been running for one month. Market experts believe the mechanism has improved investor trading convenience and enabled the market to respond more promptly to after-hours information changes, but it also faces challenges such as an excessively high proportion of retail investors, insufficient liquidity, and the need for institutional improvements.Data shows that in the first week of the after-hours market's launch (September 14-18), retail investors accounted for as much as 90.4% of trading volume by value, while foreign and institutional investors accounted for only 6.7% and 2.6%, respectively. Industry insiders are concerned that the imbalance in market participation structure has become a major issue. An investor structure overly skewed toward retail could lead to insufficient market liquidity and amplify individual stock price volatility, especially for small- and mid-cap stocks and popular thematic stocks. Some securities firm representatives suggest adjusting institutional investment rules and attracting more professional investors by lowering barriers for foreign participation. (EToday)

According to on-chain analyst Ember Monitoring, 3 Pump.fun team or early investor wallets (96HiV4...NKVWM9, ERRGqu...dukdNYa, 85WTuj...RqMD4ERS) transferred 1.458 billion PUMP to Coinbase Prime 5 hours ago, worth $7.58 million. These 3 wallets have an allocation of 70 billion PUMP, which has been unlocking since July. The 1.458 billion PUMP transferred to Coinbase Prime this time represents their unlocked amount for this month.

Odaily reports that White-Haired Stock Oracle Serenity posted on X stating that although AI-related stocks have recently been affected by the macroeconomic environment, rate hike expectations, and concerns over capex sustainability, the fundamentals of key supply chain segments such as memory chips and optical communications remain strong, and the market's pricing of different companies is clearly diverging.He noted that demand visibility for memory manufacturers such as Micron, Samsung, and SK Hynix has extended to 2030-2031, and long-term procurement agreements and price floor mechanisms are expected to support future profitability. On the optical communications side, Lumentum's capacity is essentially sold out through 2029, and with the large-scale adoption of CPO/NPO technology, a supercycle in optical communications may arrive in 2027-2028, with capacity-expanding companies such as AAOI and SIVE worth watching.As for capital-intensive capex companies such as IREN, he stated that the market does not seem to favor companies that require continuous heavy investment while also constantly raising funds. In any case, the market currently appears to have entered a more risk-averse environment, with capital shifting toward large-cap companies in search of safety, such as CrowdStrike (CRWD) and Palantir (PLTR).In addition, the White-Haired Stock Oracle believes that even if AI capex slows, it does not mean that all supply chain companies will come under pressure simultaneously. The current market tends to trade AI-related stocks as a whole, which may lead to some key supply chain companies being undervalued. Rather than simply chasing the AI concept, companies with higher demand visibility, imminent profitability inflection points, and expected declines in forward valuations may deliver better performance over the medium term.