8:01 AM | Zhang Ting resumes live-streaming to sell goods; 12306 requires third-party platforms to stop the marketing hype for the Spring Festival travel; Wang Hua denies the rumor that Xiaomi refuses to hire employees over 35 years old in Hong Kong.
Listing in Progress
Small Vegetable Garden
36Kr learned that Small Vegetable Garden announced that the company plans to globally offer 101 million shares through the Hong Kong IPO. The offering price of each share will be HK$8.50. The offering will be from December 12 to 17, and it is expected that the shares will begin trading on the Stock Exchange of Hong Kong at 9:00 am Hong Kong time on Friday, December 20.
Top 3 Big News
Ting Zhang Resumes Live-streaming with Product Sales of 2.67 Million Yuan in 7 Hours
On December 10, Ting Zhang started live-streaming with product sales on her personal account on an e-commerce platform. This time, she did not sell her personal brand TST. Both of the two live-streaming sessions were dedicated to the TIBORANG kitchenware. According to the data platform of Xinbang Xinkuai, Ting Zhang's live-streaming on December 10 lasted for 7 hours, with a peak popularity of 100,000 and a sales volume of 2.67 million yuan.
The Xinkuai data platform shows that Ting Zhang's personal account resumed live-streaming in early September. The live-streaming contents were mostly about fitness, skin care, and daily maintenance. She gradually tested the waters to resume product sales in early December. On December 5, she conducted a 2-hour live-streaming session to sell some cosmetics, but the sales volume was only 159 yuan. (Blue Whale News)
12306 Requires Third-Party Platforms to Stop Spring Festival Transport Marketing Hype
36Kr learned that according to the official Weibo message of Railway 12306, the announcement of the Railway 12306 Science and Technology Innovation Center states that the Railway 12306 platform is the only official channel for China Railway to provide Internet ticketing services to the society. It is committed to providing fair, just, warm and convenient railway ticket purchase and travel services for the majority of passengers, and has never authorized any third-party platform to sell train tickets and handle train ticket-related businesses. Recently, a certain third-party platform publicly claimed that "Spring Festival Transport Ticket Grabbing Has Begun" and "The Earliest Reservation Can Be Made 90 Days in Advance", which is purely platform marketing hype and has nothing to do with the Railway 12306 platform. This behavior seriously misleads the majority of passengers and disrupts the normal ticketing order of train tickets. In response, the Railway 12306 platform solemnly warns the relevant third-party platforms that they must immediately stop such marketing hype behavior.
Wang Hua Denies Xiaomi's Alleged Refusal to Hire Employees Over 35 in Hong Kong
Recently, a netizen posted a video on a social platform claiming that a certain mainland mobile phone brand refuses to hire employees over 35 in Hong Kong, triggering a heated discussion. In response, on December 11, Wang Hua, the general manager of Xiaomi's public relations department, issued a statement to refute the rumor, stating that the company's recruitment "has no such restriction".
Wang Hua said, "I heard that some people are still posting this video to slander Xiaomi. Last month, I specially asked the head of HR to confirm three facts. First: The video mentioned that only short-term contracts are given, but all of our contracts are long-term. Second: The video mentioned an age limit, but we have no such restriction. Third: The person in the video should be a headhunter, but we are not using headhunters for positions in Hong Kong." (Phoenix Technology)
Big Companies/Big Events
Coffee Prices Reach the Highest Level in 47 Years
According to a report by Bloomberg on the 10th, as cited by China News Service, the futures price of Arabica coffee beans, the coffee bean variety with the largest global market share, has reached $3.45 per pound. The price has increased by more than 80% this year, reaching the highest level since 1977. The main reason for the price increase is the market's concern about the production reduction in Brazil, the largest coffee producer. Brazil experienced the most severe drought in 70 years between August and September this year, and then heavy rainfall in October. One of the world's largest coffee traders, Volcafe, found a long-term drought situation after inspecting the crops, so it lowered its expectations for the production of Arabica coffee beans in Brazil.
It is reported that the increase in coffee prices may further increase the costs of roasters and coffee shops, and these costs will be passed on to consumers. Coffee giant Nestle said in November that it will increase prices and reduce packaging to mitigate the impact of the increase in coffee bean prices. Italian coffee giant Lavazza also said that the soaring coffee prices have forced it to pass on the higher raw material costs to customers. (China News Service)
Gan Wei Responds to Paying Off 1.2 Billion Yuan, Jia Yueting Went to the US Not to Evade Debts
According to Kuaitech, on December 11, Gan Wei, the ex-wife of Jia Yueting and a film and television producer, updated a video and responded for the first time to the claim of "paying off 1.2 billion yuan in 7 days" in that year, stating that no matter what difficulties one encounters, one should not give up hope. In the video, Gan Wei recalled the details of the debt repayment crisis she and Jia Yueting fell into back then. She said that when LeTV was at its most glorious, its market value was over 150 billion yuan, but the market value could only be observed. Later, Jia Yueting established a debt team. Those ten-odd days were extremely difficult. They had to face all the creditors and all the media. No matter how strong one's heart is like steel, one would still be afraid.
When asked, "Were you the one who actively returned from abroad at that time?", Gan Wei frankly admitted that she had to return to China. She also said, "When Mr. Jia went to the US, it was not to evade debts. When he was developing the FF91 automotive business in the US, he had to attend a meeting once a month, and the clothes he brought were only for a week." (Kuaitech)
ByteDance Elevates Jianying JIMENG Business Priority
Exclusive from 36Kr, ByteDance's management team believes that AI conversation-based (or chatbot-like) products may only be an "intermediate state" of AI products. In the long term, a more ideal product form is likely to require a more visual user experience and a lower user usage threshold. Therefore, ByteDance has elevated the product priority of JIMENG and is attempting to create the "TikTok" of the AI era through a new path. When seeking verification from ByteDance, there has been no response for the time being.
Biden Is Reportedly Planning to Block Nippon Steel's Acquisition of U.S. Steel
It is reported that sources familiar with the matter have disclosed that US President Biden plans to prevent Nippon Steel from acquiring the US Steel Corporation on national security grounds later this month. The Committee on Foreign Investment in the United States (CFIUS) panel has been reviewing the proposed acquisition for most of this year, and the panel must submit its decision to Biden by December 22 or 23. (Jiemian News)
Where to Go: The number of passengers who bought their first air ticket this year has increased by 41% year-on-year
36Kr learned that the data from Where to Go shows that since this year, the number of passengers who bought their first air ticket on the Where to Go platform has increased by 41% year-on-year. The provinces with the highest growth rates are Shanghai, Beijing, Yunnan, Fujian, and Hubei. The growth rates in first-tier and new first-tier cities are higher than the average level. Especially, teenagers under the age of 18 have become the main group to buy their first air ticket, with a growth rate of more than 50%. Since this year, the number of residents in cities below the third tier who bought their first air ticket has increased by 35% year-on-year, setting a new high in the past five years. The three major U.S. stock indexes closed with mixed results, and Tesla rose by more than 5%
36Kr learned that at the close of trading on December 11, the three major U.S. stock indexes closed with mixed results. The Dow Jones Industrial Average fell by 0.22%, the Nasdaq Composite Index rose by 1.77%, and the S&P 500 Index rose by 0.82%. Most large technology stocks rose. Tesla and Google rose by more than 5%, NVIDIA rose by more than 3%, Amazon, Meta, and Netflix rose by more than 2%, and Microsoft rose by more than 1%; Apple declined slightly. Most popular Chinese concept stocks fell. Tencent Music fell by more than 5%, JD.com fell by more than 3%, XPeng Motors and NIO fell by more than 2%, Bilibili and Pinduoduo fell by more than 1%; NetEase and Baidu rose slightly.
Saudi Arabia Wins the Right to Host the 2034 World Cup, Six Countries to Jointly Host the 2030 World Cup
36Kr learned that, according to the Weibo of FIFA, the 2024 FIFA Special Congress of FIFA confirmed that six countries (Spain, Portugal, Morocco, Argentina, Uruguay, Paraguay) will jointly host the 2030 World Cup. Spain, Portugal, and Morocco officially won the right to host the 2030 World Cup. Argentina, Paraguay, and Uruguay will host the first three matches. Saudi Arabia won the right to host the 2034 World Cup.
A major state-owned bank has received a meeting notice, and the individual pension system is expected to be fully launched.
It is learned from an informed source that a major state-owned bank has received a notice from the Ministry of Human Resources and Social Security to hold a video conference on the full implementation of the individual pension system in the middle of this month. At that time, on the basis of the pioneering experience gained in the pilot projects in 36 cities or regions, the individual pension system is expected to be fully implemented nationwide. "It will be launched after the meeting!" the source said. (21st Century Business Herald)
CATL Applies for NING COFFEE Trademark
36Kr learned that according to the intellectual property information on Tianyancha, recently, Contemporary Amperex Technology Co., Limited has applied to register two "NING COFFEE" trademarks. The international classifications are convenience food and catering accommodation, and the current trademark status is awaiting substantive examination. Previously, the company has applied to register two "Ning Coffee" trademarks. It is understood that in August this year, CATL was exposed to have started selling coffee. The products it sells include six kinds, such as "Supercharge Americano", "Endurance Latte", "Zero Carb Immortal", and "Zero Carbon Gyokuro", and the prices are all 9.9 yuan. A person from CATL said that these are only provided at the offline exhibition hall of CATL in Chengdu - New Energy Life Plaza, "It is a supporting product, not the main product".
SpaceX Repurchases Stocks, Valuation Soars to $350 Billion
The SpaceX company, owned by Musk, has reached a valuation of $350 billion through additional share issuance. A copy of the takeover offer shows that SpaceX and investors agreed to acquire $1.25 billion worth of stocks from insiders at a price of $185 per share. This round of financing does not include raising new capital, as the takeover offer is a secondary sale of existing stocks. It is worth noting that as part of the offer, SpaceX will purchase up to $500 million of common stocks. This is a rare stock repurchase, demonstrating the financial situation of this private company. (Sina Finance)
Elon Musk becomes the first person in the world with a net worth exceeding $400 billion
Elon Musk becomes the first person to reach a net worth of $400 billion, setting a new milestone for the richest person in the world. The recent catalyst is the internal stock sale transaction of SpaceX, which increased Musk's net worth by approximately $50 billion to $439.2 billion. At the end of 2022, Musk's net worth once dropped by more than $200 billion, but after Trump won the general election last month, as his biggest financial backer, Musk's net worth immediately soared. On December 11, SpaceX and its investors agreed to purchase a total of $1.25 billion worth of stocks from employees and other insiders of the company. This transaction values the privately-owned space exploration company at approximately $350 billion, making SpaceX the most valuable private startup in the world. (Caixin)
Apple is collaborating with Broadcom to develop an artificial intelligence chip
Insiders say that Apple is developing a server chip specifically designed for artificial intelligence and is collaborating with Broadcom to develop the chip's networking technology. The internal code name for the new chip is Baltra, and it is expected to be mass-produced by 2026. This move highlights Apple's long-standing position of avoiding purchasing chips from Nvidia, which dominates the artificial intelligence processor market. The report points out that this also marks a milestone for Apple's chip team, which initially designed chips for the iPhone and then shifted to Mac processors that set new standards for performance and energy efficiency. (Sina Finance)
Goldman Sachs CEO: Will Consider Becoming a Bitcoin Spot Market Maker If Regulatory Permitted
Goldman Sachs Group CEO David Solomon said on December 10 that if the regulation becomes clearer, Goldman Sachs might consider becoming a spot market maker for the leading cryptocurrency. Solomon stated at an event that from a regulatory perspective, the company's ability to participate in the spot trading of Bitcoin and Ethereum is "very limited". "You have to ask the regulatory authorities, because currently, as a regulated banking institution, I think you know this, we are not allowed to own cryptocurrencies like Bitcoin as principal," Solomon said. (Sina Finance)
Tesla Is Reportedly Looking for a Location to Open a Showroom in New Delhi
It is reported that informed sources say that Tesla has resumed looking for showroom space in New Delhi, which is the first sign that the company is reconsidering entering the Indian market after putting investment plans on hold earlier this year. In April this year, Musk had planned to visit India and announce an investment plan, but canceled the visit at the last minute. One of the sources said that Tesla is looking for a space of 3,000 to 5,000 square feet (approximately 280 - 465 square meters) to create a consumer experience center and is looking for a space three times larger for its delivery and service operations. (Jiemian News)
The Russian cross-border e-commerce platform "Ozon Global" will establish 6 new warehouse centers in China
36Kr learned that at the 3rd Shenzhen 2024 China E-commerce Forum, the Russian cross-border e-commerce platform Ozon Global announced that the sales commission for next year will be reduced by nearly half. At the same time, Ozon Global will launch 6 partner warehouse centers in eastern and southern China.
After the strike ended, Boeing's aircraft deliveries in November dropped to 13.
On December 10, the US-based Boeing Company released a report stating that in November, the company delivered 13 commercial jetliners, less than a quarter of the 56 jetliners it delivered to customers 12 months ago. The delivery volume in November decreased compared to the 14 in October. At that time, most of the company's aircraft production was still at a standstill, and 33,000 factory workers went on a seven-week strike, which ended on November 5. (Sina Finance)
SpaceX's valuation is set at approximately $350 billion due to internal stock sale
According to an email sent to employees that the media saw, SpaceX and its investors have agreed to acquire up to $1.25 billion of the company's common stock at a price of $185 per share. This transaction values the rocket and satellite manufacturer owned by Elon Musk at approximately $350 billion. (Sina Finance)
Google is reportedly asking the US Federal Trade Commission to lift Microsoft Cloud's exclusive hosting of OpenAI technology
It is reported that informed sources have revealed that Google recently requested the US government to lift Microsoft's exclusive agreement to host OpenAI technology on its cloud servers. The informed sources said that the US Federal Trade Commission asked Google about Microsoft's business practices for a broader investigation, and Google subsequently expressed this opinion. Companies that compete with Microsoft, including Google and Amazon, hope to host OpenAI's artificial intelligence services themselves, so that their cloud customers do not need to use Microsoft's servers simultaneously to access the technology of this startup company. (Jiemian News)
German police search Adidas office for tax investigation
It is reported that as part of a tax investigation that has lasted for several years, the German police searched Adidas' German headquarters on December 10. An Adidas spokesperson said that the search operation involves customs and tax clearance regulations for goods imported into Germany since 2019. (Jiemian News)
TikTok Files Review Application Against Canada's Order to Shut Down Local Subsidiary
TikTok's Canadian branch announced on December 11 local time that it has filed a review application with the Federal Court against the government's order to shut down TikTok's business in Canada. TikTok said that finding a meaningful solution and ensuring the continued existence of the local team along with the TikTok platform is in the best interest of Canadians. On November 6 local time, the Canadian government issued an announcement stating that after a multi-step national security review process, the Canadian government has ordered the termination of the business of ByteDance's Canadian subsidiary TikTok Technology Canada in Canada. (Jiemian News)
The 500,000th vehicle of Volvo Cars Daqing Factory has been officially rolled off the production line.
36Kr learned that, according to the official WeChat account of Volvo Cars, recently, the 500,000th vehicle of Volvo Cars Daqing Factory has been officially rolled off the production line.
Microsoft Establishes a New Consumer Artificial Intelligence Health Business Division
According to the Financial Times, Microsoft has established a new consumer artificial intelligence health business division. (Cailian Press)
The Forefront of AI
Google Launches the Latest AI Model Gemini 2.0
On December 11 local time, Google announced the launch of Gemini 2.0, claiming that it is its most powerful model to date. As of today, Google is opening 2.0 to developers and trusted testers, and is actively working on integrating it into the company's products, starting with Gemini and Search. As of today, the Gemini 2.0 Flash Experience Edition model will be open to all Gemini users. At the same time, Google has also launched a new feature of Deep Research, which uses advanced reasoning and long context processing capabilities to act as a research assistant, helping users explore complex topics and write reports. This feature is available to Gemini Advanced users as of today. (Sina Finance)
Meta AI Executive Criticizes OpenAI: Closed-Source AI is Absurd, Open Source is the Only Way Forward
Manohar Paluri, Vice President of Engineering for Meta's Generative AI, recently stated that closed-source AI is absurd and that open source is the only way to fully realize the potential of AI. It is well known that OpenAI, the pioneer of generative AI, currently adopts a closed-source model, and its main sources of income include subscriptions and API services. As the co-founder of OpenAI, Tesla CEO Elon Musk sued OpenAI because the company violated its original mission and abandoned its open-source commitment. (Sina Technology)
Enterprise Diversified Layout, AI Medical Applications Are Gradually Taking Shape
In the medical AI field in 2024, with the rapid development of large language models and generative AI technologies, AI technologies in multiple scenarios, including Internet medical care, medical imaging, and new drug research and development, are releasing unprecedented value. Industry insiders generally believe that the "Medical + AI" has broad prospects, and both patients and doctors will benefit from this technological revolution. (Shanghai Securities News)
CuteSmart: The CuteSmart AI Agents 2.0 version jointly developed with Huawei is under development.
36Kr has learned that an investor asked CuteSmart whether the CuteSmart AI Agents jointly developed with Huawei is still in use. CuteSmart stated on the interactive platform that the two sides are taking the CuteSmart "Enterprise-level Operating System" 1.0 version as the prototype basis, using the new CuteSmart industrial park as the test field carrier, and based on advanced technologies such as the Pangu large model, Kunpeng + Ascend computing power, to upgrade to the CuteSmart AI Agents 2.0 version. The goal is to make it a universal digital and intelligent tool and helper. Currently, the CuteSmart AI Agents 2.0 version is under development.
Open Source Securities: The AI Video Large Model is Accelerating the Competition, Continuing to Layout "AI + Film and Television"
36Kr has learned that the research report of Open Source Securities points out that the AI video large model is accelerating the competition, and the multi-modal capabilities are continuously upgraded, helping to open up the commercial space. Film and television content, copyright, and marketing companies actively embrace AI videos and continue to layout "AI + Film and Television". It is optimistic that the AI video model is constantly iterated, the application is accelerated to be implemented, and the release of new film supplies and consumption subsidies and other policies are helping to further promote the opening of the commercial space of "AI + Film and Television".
Big Company Financial Reports
Inditex, the parent company of Zara, saw a 7.1% increase in revenue and an 8.5% growth in net profit in the first three quarters.
Inditex, the parent company of Zara, reported a 7.1% year-on-year increase in revenue to 27.4 billion euros and an 8.5% growth in net profit to 4.4 billion euros in the first three quarters. The gross profit margin increased by 4 basis points year-on-year to 59.4%. (Cailian Press)
BOSS Direct Recruitment: Revenue of 1.912 billion yuan in the third quarter, with a year-on-year growth of 19%
36Kr learned that BOSS Direct Recruitment released its financial report for the third quarter of 2024. The financial report shows that the company achieved a revenue of 1.912 billion yuan in the third quarter, with a year-on-year growth of 19%; the net profit was 464 million yuan; under non-GAAP, the adjusted operating profit was 605 million yuan, and the adjusted operating profit margin exceeded 30%. In the third quarter, the company strengthened its product and operation service capabilities to increase and retain users. As of September 30, 2024, the number of enterprise customers who paid to the company within 12 months was 6 million, with a year-on-year increase of 22.4%.
Investment and Financing
"Hohem" Completes Over 100 Million Yuan Series B Financing
Recently, the intelligent imaging pioneer brand "Hohem" has completed a Series B financing of over 100 million yuan, jointly led by Shunwei Capital and Legend Capital, with many institutions such as Xiaomi Ventures participating. This round of funds will be used for the company's product technology research and development, marketing promotion, and channel layout. "Hohem" was founded in 2014 and focuses on the field of AI intelligent imaging equipment. As the pioneer of the AI tracking stabilizer category, it is committed to bringing users more relaxed and efficient intelligent shooting experiences.
"Embodied Storm" Completes Angel Round Financing of Over 10 Million Yuan
36Kr learned that "Embodied Storm" has recently completed an angel round financing of over 10 million yuan. This round of investment is jointly invested by Xirong Shandao and Xinghe Capital, and Ren Chen Capital serves as the exclusive financial advisor. The raised funds will be mainly used for product research and development, product mass production, and daily operations. Embodied Storm was established in September 2023, focusing on the research and development and implementation of a new paradigm of embodied intelligent human-computer interaction, and solving the problem of general human-computer interaction comfort through imitation learning based on massive real human feedback.
Arranged by | Wang Xinyi