The image above is found on Weibo, the micro-blogging service ran by Sina. It is speculated the Sina Weibo logo-shaped gadget is a Square-style mobile payments solution, for Sina obtained a license for Internet payments and launched an Micro-Bank last month.
There has been a plenty of such gadgets in China. Players in the market include Internet companies like Baidu, bank services like China UnionPay, or independent payments services such as 99Bill and Lakala. Standalone Square clones include QFPay, iBoxPay, Yeahka and so on.
There are also other guesses that it could be a mobile speaker, or a mobile phone dustproof plug.