Summary: SERES approves capital increase for Blue Electric Technology, adding 680 million yuan to about 3.88 billion, with no preemptive rights and up to 7.2 billion total injection; SERES stake dilutes to 32%, funded by a Chongqing-backed fund and others. Abstract: SERES Automotive announced that its board approved a capital increase plan for its subsidiary Blue Electric Technology. The plan raises the subsidiary’s registered capital by 680 million yuan, bringing total registered capital to about 3.88 billion yuan, and is accompanied by no preemptive rights on the new shares and a cap on total injections at 7.2 billion yuan. Upon full completion, SERES’ equity stake in Blue Electric Technology would be diluted to 32%. The subsidiary was established with SERES’ Wuhan legacy assets following a February 2026 cooperation with Chongqing’s Shapingba District, under which a government-backed market-oriented equity investment fund and other investors will provide cash for the expansion.

Gate’s “Racing the Future” exhibition at Hong Kong’s Victoria Harbour attracted a large crowd and widespread attention, showcasing the new cars and equipment from the F1 Red Bull Racing team. The event will be held on April 20, featuring a Blue Carpet Ceremony and an anniversary gala dinner, providing opportunities for industry exchange and live streaming.

Hong Kong stocks closed lower on April 17, with the Hang Seng Index dropping 0.89%. Blue-chip stocks varied, as Alibaba gained amid AI advancements. Newly listed stocks surged, showcasing strong investor interest, while gold stocks fell due to geopolitical tensions.

Morpho has launched Morpho Midnight, a fixed-rate DeFi lending product distinct from its variable-rate counterpart, Morpho Blue. Co-founder Paul Frambot highlights that Midnight represents a new onchain lending approach, coexisting with Blue. Morpho holds $7.7 billion in TVL.

Gate will hold its 13th anniversary blue carpet ceremony on April 20 at K11 MUSEA in Hong Kong, with multiple industry guests and media in attendance on site. During the event, there will also be an outdoor special exhibition, and an anniversary banquet will be held that evening.

Blue Cat Owl Capital’s stock price has fallen to an all-time low after a surge in redemption requests for its private credit funds, totaling $5.4 billion in the first quarter. The company’s market value has shrunk by more than 40% this year. Investor confidence has declined, the industry faces pressure, and redemption restrictions may affect cash flow and earnings.

Apollo Global Management, BlackRock, and Blue Owl Capital, among other firms, have implemented redemption restrictions, reflecting intensifying liquidity pressures in the private credit market and growing investor concerns about high-risk exposures. Moody's downgrade of FSK's credit rating demonstrates accumulating industry risks. Future market stress will be determined by investor behavior and liquidity management.

Blue Origin has applied for "Project Sunrise," planning to deploy 51,600 satellites in sun-synchronous orbit to build a space data center network that would support AI computing and data transmission. While this would improve efficiency, large-scale deployment faces challenges including cost and regulatory hurdles.

Gate News reports that on March 19, an EU Commission spokesperson for digital economy affairs, Thomas Rennier, confirmed that American social media platform X has paid a €120 million fine issued by the EU in December of last year before the deadline, and submitted a remediation plan regarding its "blue verification" feature. The spokesperson also stated that despite X paying the fine, the platform is still appealing the penalty.

Gate News: On March 17, the three major U.S. stock index futures turned higher. The S&P 500 Index (U.S. large-cap stock benchmark index) futures rose 0.2%, the Nasdaq 100 Index (U.S. tech stock benchmark index) futures rose 0.1%, and the Dow Jones Index (U.S. blue-chip stock benchmark index) futures rose 0.3%.