Baidu’s Kunlun AI chip unit is reportedly planning a Hong Kong IPO and counts Tencent as a customer. Earlier reports said ByteDance was considering adopting Kunlun’s AI chips; sources close to ByteDance say it currently has no intention to cooperate with Kunlun.

Huatai Securities research note: Escalating Middle East tensions are disrupting global oil and gas supply-demand, temporarily lifting oil prices and driving inventory draws; but high prices are already causing demand destruction, and as supply constraints ease marginally the oil-price midpoint could gradually return toward equilibrium. In bulk chemicals, capex growth has clearly turned since H2 2025; measures to curb redundant competition, dual-carbon control and the exit of backward overseas capacity are promoting optimization of existing capacity and point to a capacity-cycle inflection. In electronic chemicals, AI compute growth, advanced process nodes, advanced packaging and domestic substitution are lifting semiconductor-material demand, and overseas supply disruptions could boost spot conditions for electronic specialty gases and other critical materials.

U.S. outlets The Verge and the Wall Street Journal report Zhipu (02513.HK) has released open-weight model GLM-5.2. The model still lags Anthropic and OpenAI on broad tasks, but some researchers say GLM-5.2 matches Anthropic’s Mythos in certain vulnerability-detection and cybersecurity scenarios. Cybersecurity firm Semgrep reports GLM-5.2 outperformed Anthropic’s Claude Opus 4.8 on some benchmarks; researchers add that with additional instruction both Opus 4.8 and GLM-5.2 can rival Mythos at bug finding. GLM’s open-weight distribution — downloadable and runnable on commodity hardware — boosts flexibility and deep access for advanced users but may elevate the risk of malicious misuse.