Trump-backed AI finance company in talks to sell core business
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ABTC, a Bitcoin mining company backed by the Trump family, increased its holdings by 500 BTC.
Odaily Odaily reports that American Bitcoin (ABTC), a Bitcoin mining company backed by the Trump family, has increased its holdings by 500 BTC, bringing its total Bitcoin holdings to 8,000. (BTCtreasuries)
Abu Dhabi National Oil Company's distribution arm plans to acquire 100% of Shell's South African downstream business for $1 billion.
Mars Finance reported on July 7th that ADNOC Distribution, a subsidiary of Abu Dhabi National Oil Company, announced its plan to acquire 100% of Shell's South African downstream business for approximately US$1 billion. Following the transaction, a 28% stake will be sold to local empowerment partners and an employee stock ownership plan. The company expects the transaction to drive EBITDA growth of approximately 13% and earnings per share growth of approximately 6% in the first year after completion. The transaction is expected to close in 2027. (Wide Angle Observation)
*Trump Sued Over Plan To Sell Fast Access To Truth Social POSTS: BBG
TreeNews News, *Trump Sued Over Plan to Sell Fast Access to Truth Social POSTS: BBG
Chengbang Technology: First-half profit expected to reach 26 million yuan; semiconductor storage business revenue and net profit both saw significant year-on-year growth.
According to Mars Finance, Chengbang Co., Ltd. (603316.SH) announced that it expects its net profit attributable to shareholders of the listed company for the first half of 2026 to be 26 million yuan, turning a loss into a profit year-on-year. The company's semiconductor storage business accounts for over 70% of its revenue and is its core business. During the reporting period, relying on the favorable global semiconductor storage market, the company's semiconductor storage business revenue and net profit increased significantly compared to the first half of 2025, showing improved profitability, but the absolute amount is still relatively small. Note: The company's Q2 net profit is estimated at 3 million yuan, and Q1 net profit at 23 million yuan. Based on this, Q2 net profit is expected to decrease by 89% quarter-on-quarter. (Cailian Press)
O-Film's machine vision business operates independently and has entered the supply chains of robotics companies such as UBTECH and CloudMinds.
Mars Finance reported on July 8th that O-Film recently announced the establishment of O-Film Machine Vision Technology (Jiangxi) Co., Ltd. in Nanchang. Previously, this business belonged to the machine vision line under O-Film's Microelectronics Business Unit, primarily engaged in 3D visual perception, industrial intelligent inspection, and related businesses. With the expansion of business scale, O-Film has established an independent company to operate this line. It is understood that O-Film Machine Vision has already cooperated with several leading domestic intelligent equipment companies, including UBTECH, CloudMinds, and IndependentVariable. In addition, the company is also a core supplier for intelligent cleaning equipment companies such as Ecovacs, Roborock, and Kuma. (Jiemian)
A summary of the latest situation in the Middle East: Trump approves plan to strike Iran; Iran believes the US will cause peace talks to fail.
BlockBeats reports the following is a summary of the latest situation in the Middle East on July 8th: Conflict Situation: Trump approved the strike plan against Iran. US officials stated that the strike against Iran was a "punitive action, not a reciprocal response," and that the operation "will not end anytime soon." A US official stated that the strike launched by the US against Iran on Tuesday was four to five times larger and more powerful than the strike launched 10 days earlier. The US revoked a general license authorizing the sale of Iranian oil, allowing related final transactions to continue until midnight Eastern Time on July 17th. This move is reportedly in response to Iran's recent firing on three merchant ships in the Strait of Hormuz. The Iranian Foreign Ministry stated that some merchant ships were sailing without coordination and had turned off or tampered with AIS signals, hindering safe navigation in the Strait of Hormuz. It urged regional countries and shipping companies to avoid any actions that violate the memorandum. The U.S. Central Command stated that its forces have initiated a series of powerful strikes against Iran in response to Iranian targeting and attacks on commercial shipping operated by civilian crews in international waterways. Iran's Foreign Ministry condemned the U.S. Treasury Department's revocation of the temporary suspension of sanctions on Iranian oil sales. U.S.-Iran Negotiations: Iranian Foreign Minister Araqchi stated that if the threats persist, negotiations for a final agreement will not begin; please honor your commitments. Iran's Supreme Leader's advisor, Rezaei, stated that it is clear the U.S. will cause the negotiations to fail. Lebanese diplomatic sources indicated that Lebanon refused to hold the sixth round of Lebanon-Israel talks in Rome, insisting that negotiations should continue in Washington. Strait of Hormuz: A liquefied natural gas (LNG) carrier was attacked in the Gulf of Oman. Multiple explosions occurred in the southern Iranian port city of Sirik. Explosions were heard on Qeshm Island and Bandar Abbas in southern Iran. British Maritime Authority: The threat level in the Strait of Hormuz has been raised to "serious".