Krypton Evening Post: China Post's operating income and profit both rank first in the world's postal industry; Pinduoduo's 10-billion-subsidy officially kicks off 11.11, launching the "10-billion-consumption-voucher" campaign first; MediaTek releases Dimensity 9400 flagship chip.
Big Companies:
According to the Wall Street Journal, the US Department of Justice filed documents on Tuesday, proposing a series of potential options from behavioral restrictions to splitting to the a federal court to address the issue that a judge said Google has an illegal monopoly in the search field. The document stated that the government is considering taking a "series of comprehensive tools" to restore competition, including "structural" adjustments to Google's business to prevent it from using products such as the Chrome browser or the Android operating system to give Google's search engine an advantage. Google responded in a blog post that the Justice Department's initial proposal to reform the search engine market is "radical and far-reaching" and could have "negative unintended consequences for American innovation and American consumers". (Jiemian)
China Post's Operating Income and Profit Rank First in the World Postal Industry
October 9 is the 55th World Post Day. Liu Aili, Party Secretary and Chairman of China Post Group Co., Ltd., said in his speech on World Post Day that in the 2024 Fortune Global 500, China Post's operating income and profit both rank first in the world postal industry. From January to August this year, China Post Group Co., Ltd. completed an income of 472.171 billion yuan and achieved a profit of 70.476 billion yuan, maintaining a good development trend. (Xinhua News Agency)
36Kr has learned that Pinduoduo's Hundred Billion Subsidy has taken the lead in launching this year's 11.11 promotion, and for the first time, it has launched the "Hundred Billion Consumption Voucher" campaign. In addition, Pinduoduo's Hundred Billion Subsidy will officially upgrade the "Double Subsidy" campaign on the 11th, providing additional subsidies for all category items. The covered items not only include top brands in mobile phones, digital products, home appliances, beauty, skin care, clothing, home furnishing, pets, department stores, etc., but also will focus on supporting a number of new-quality brands with innovative capabilities in products, technology, etc.
Chery and Others Establish a Venture Capital Partnership in Anhui
36Kr has learned that the Aiqicha App shows that recently, Wuhu Ruizhuo Venture Capital Partnership (Limited Partnership) was established with a registered capital of 1.85 billion yuan. The executive partner is Xiamen Lvxingtong Automobile Sales Co., Ltd., and its business scope includes enterprise headquarters management, enterprise management, enterprise management consulting, and investing activities with its own funds. The partner information shows that this enterprise is jointly funded by Rizhao Xinwei Investment Partnership (Limited Partnership), Chery Commercial Vehicle (Anhui) Co., Ltd. under Chery Holdings, and Xiamen Lvxingtong Automobile Sales Co., Ltd.
On Running Holds a Shanghai Meeting, and China Has Become Its Largest Market by Number of Stores
36Kr has learned that on October 8, Roger Federer, an investor and partner of the Swiss sports brand On Running and a former tennis player, appeared at the Shanghai meeting to gather with the teenagers of the "Yunnan Wild Elephant Tennis Club". It is introduced that the Chinese market has now become the market with the largest number of On Running stores. Up to now, it has opened 60 physical stores in the Greater China region.
Last Year, the Sales of South Korea's Four Major Conglomerates Accounted for More Than 40% of GDP
Data released on Wednesday showed that South Korea's four major conglomerates accounted for more than 40% of the country's gross domestic product (GDP) in 2023. Cha Gyu-geun, an opposition lawmaker in South Korea, cited data from the Korea Fair Trade Commission as saying that the total sales of the four major family groups, Samsung, SK, Hyundai Motor, and LG, reached 980.5 trillion won (approximately $729 billion) in 2023, accounting for 40.8% of South Korea's nominal GDP. (Sina Finance)
36Kr has learned that recently, Digital Domain Group Limited has reached a cooperation consensus with Amazon Web Services to migrate autonomous virtual humans and their technologies to the cloud. Based on AWS's cloud infrastructure, Digital Domain integrates solutions such as generative artificial intelligence and machine learning to promote the innovation and global coverage of autonomous virtual humans, thereby extending the application of this technology in multiple fields such as entertainment, games, healthcare, concierge services, and trade.
HuiiMedia of Zhanghui Technology Reaches In-depth Cooperation with SmartNews
36Kr has learned that recently, the overseas advertising service provider HuiiMedia of Zhanghui Technology officially announced an in-depth cooperation with SmartNews, and HuiiMedia of Zhanghui Technology has become the official advertising agent of SmartNews. It is introduced that HuiiMedia of Zhanghui Technology has successively obtained the advertising agency licenses of the US information platform NewsBreak and the Japanese information platform SmartNews this year, improving its overseas media layout and service capabilities, and will do a good job in overseas advertising customer acquisition for advertisers such as games, e-commerce, applications, and short dramas.
Qiaqia Food Establishes a New Supply Chain Management Company in Guangdong
36Kr has learned that the Aiqicha App shows that recently, Guangdong Qiaqia Food Supply Chain Management Co., Ltd. was established, with Hu Xiaoyan as the legal representative and a registered capital of 10 million yuan. Its business scope includes supply chain management services, food Internet sales, and wholesale of edible agricultural products. Shareholder information shows that this company is wholly-owned by Qiaqia Food Co., Ltd.
Investment and Financing:
Rigaku Is Reported to Raise Up to $870 Million in IPO
According to Reuters, the Carlyle-backed Japanese company Rigaku is set to raise up to $870 million in its IPO. Rigaku's provisional IPO price range is between 1,230 and 1,260 yen per share. Rigaku's final IPO price will be determined on October 17. (Jiemian)
Molly Tea Completes Nearly 100 Million Yuan in Financing, Led by Alibaba Local Life
36Kr has learned that the Aiqicha App shows that recently, Shenzhen Molly Tea Catering Management Co., Ltd. has completed nearly 100 million yuan in financing, with the investor being Alibaba Local Life. This round of financing will mainly be used for product research and development, brand investment, supply chain improvement, and strengthening the team building, while also enabling franchise partners and continuing to create a lightweight model.
Cathay Innovation Fund's controlled enterprise, the Canadian luxury coat brand Moose Knuckles, announced a strategic cooperation with the Chinese down jacket brand Bosideng. The controlling consortium led by Cathay Innovation Fund, together with Bosideng, promises to provide financial resources and strategic support to Moose Knuckles. Bosideng will become a key investor in Moose Knuckles, while Cathay Innovation Fund remains its controlling shareholder. It is understood that Moose Knuckles is gradually expanding its retail footprint in more than 30 countries around the world and has opened 36 stores in China, North America, and Europe.
New Products:
MediaTek Releases the Dimensity 9400 Flagship Chip
36Kr has learned that MediaTek has released the Dimensity 9400 flagship chip, which adopts TSMC's second-generation 3nm process. It is introduced that the Dimensity 9400 chip improves the end-side multi-modal AI computing performance, with a processing capacity of 50 tokens per second, helping mobile phones understand and reason the relative relationships of pictures, text, and numbers. Currently, MediaTek has deeply cooperated and adapted with the world's mainstream large models.
Today's Views:
The General Office of the Central Committee of the Communist Party of China and the General Office of the State Council have issued opinions on accelerating the development and utilization of public data resources. It is mentioned that a sound price formation mechanism should be established to safeguard the public interest. Give full play to the leveraging role of price policies and accelerate the establishment of a price formation mechanism in line with the characteristics of public data elements. Guide and promote the conditional free use of public data products and services for public governance and public welfare undertakings. For public data business products and services used for industrial and industry development, if fees are indeed required, government-guided pricing management should be implemented. (Xinhua News Agency)
Guojin Securities: Optimistic About the Recovery and Valuation Repair of the Semiconductor Industry
36Kr has learned that the research report of Guojin Securities pointed out that with the mass shipment of Nvidia B-series chips and the popularity of AI applications such as text-to-video, the industrial chain will have a better opportunity for pulling goods, and core beneficiary companies are optimistic. The semiconductor industry is actively warming up, and the industrial chain is actively benefiting. Optimistic about leading companies with low valuation advantages, it is expected to usher in multiple drives of cycle recovery, performance boost, and valuation repair. It is recommended to pay attention to Apple Intelligence, which is about to be launched in October, which is expected to empower the new iPhone 16 and accelerate the phone replacement cycle. Optimistic about the AI-driven, consumer electronics innovation, semiconductor recovery, and valuation repair beneficiary industrial chains.