Krypton Evening Post | Wu Jia, President of the User Platform Division of Taotian: The 2024 Tmall Double 11 is expected to have the largest number of purchasers in history.

Big Companies:

Electric vehicle startup Fisker is approved by the court for bankruptcy
On October 11 local time, the US electric vehicle startup Fisker received court approval for its bankruptcy liquidation plan. Previously, the company conducted last-minute negotiations to secure a $46 million sale of the remaining inventory of approximately 3,000 Ocean SUVs. The court allows the company to use the remaining assets after selling the fleet to repay creditors. Fisker filed for bankruptcy in June due to the failure to reach a cooperative relationship with Nissan. (Jiemian)

Tmall Double 11 will start on October 14
36Kr learned that the 2024 Tmall Double 11 will start at 8 p.m. on October 14. On the basis of an official 15% discount or a cross-store For every 300, minus 50 activity, Tmall will additionally invest 30 billion consumer vouchers and red envelopes. It is understood that Tmall Double 11 has supported multiple payment methods such as Alipay and WeChat Pay.

Wu Jia, President of Taotian User Platform Business Division: The 2024 Tmall Double 11 is expected to have the largest number of purchasing users in history

The 2024 Tmall Double 11 will officially start at 8 p.m. on October 14. Wu Jia, Vice President of Alibaba Group and President of Taotian User Platform Business Division, said in an interview today that since the beginning of this year, Taobao Tmall has achieved interconnection and cooperation with multiple Internet platforms. This year is expected to be the Tmall Double 11 with the largest number of purchasing users in history.

China Association of Automobile Manufacturers: In September 2024, the sales volume of new energy vehicles was 1.287 million, with a year-on-year growth of 42.3%.

36Kr learned that according to the data of the China Association of Automobile Manufacturers, in September 2024, the production and sales of new energy vehicles were 1.307 million and 1.287 million respectively, with year-on-year growth rates of 48.8% and 42.3% respectively. The new car sales volume of new energy vehicles accounted for 45.8% of the total new car sales volume. From January to September, the production and sales of new energy vehicles were 8.316 million and 8.32 million respectively, with year-on-year growth rates of 31.7% and 32.5% respectively. The new car sales volume of new energy vehicles accounted for 38.6% of the total new car sales volume.

TaoBao's 10-billion-subsidy program has exceeded 500 million annual active users
36Kr learned that at the Tmall Double 11 press conference, Ru Ci, the general manager of the 10-billion-subsidy program of Taotian Group, revealed that this year, the transaction scale of TaoBao's 10-billion-subsidy program has grown rapidly. Up to now, the number of annual active users has exceeded 500 million, the number of cooperative merchants has doubled, and the number of single products with transactions exceeding 10 million has exceeded 100,000. During this year's 618 period, the transaction volume of TaoBao's 10-billion-subsidy program increased by 550% year-on-year. Industries such as 3C digital, home appliances, fast-moving consumer goods, fresh food, and home furnishing and decoration have all maintained triple-digit growth, becoming a new engine for brand growth.

Taobao: 88VIP Continues to Maintain Double-Digit Growth, with Member Size Exceeding 42 Million
36Kr has learned that at the 2024 Tmall Double 11 press conference, Xiu Xun, the general manager of the 88VIP business of Taotian Group, revealed that in the past year, Taobao's 88VIP has continued to maintain double-digit growth. The number of post-00s users has increased by 67% year-on-year, and the member size exceeds 42 million. In addition, Taobao Live continues to grow with high quality. The QAC has increased by 56% year-on-year, the GMV has increased by 25% year-on-year, and the number of daily super-hit products has increased by 300% year-on-year.

Ming-Chi Kuo: Tesla Robotaxi Mass Production Time Consistent with Previous Findings
Ming-Chi Kuo, an analyst at Tianfeng International Securities, posted on a social platform that the mass production time of Tesla Robotaxi is consistent with the previous survey results. Musk said at the conference: "I'm relatively optimistic about the time frame, until 2026. Before 2027, let's just say that." Considering Musk's cautious wording and using 2027 as the watershed for the production schedule of Cybercab, and taking into account his past record of often proposing optimistic goals, Ming-Chi Kuo believes that the release results are consistent with the previous investigation that Cybercab mass production will start in Q1 2027. It is still a long time until Q1 2027, and the mass production time of Cybercab may still change. The key points to observe for Tesla in the next few months include: 1) The next earnings conference, 2) The result of the US presidential election, and 3) Whether Tesla can provide unmanned and fully autonomous driving (FSD) in California and Texas in 2025. (Jiemian)

TikTok: Resolutely and Long-Term Crack Down on All Kinds of Illegal Securities Activities Including "Illegal Stock Recommendation"
36Kr learned that the TikTok Security Center issued an announcement stating that it will resolutely and long-term crack down on all kinds of illegal securities activities including "illegal stock recommendation". In the recent month, TikTok has cumulatively dealt with more than 3,600 illegal accounts related to the stock market and more than 15,000 pieces of illegal content. The platform has taken measures including removing the content, resetting the data, and silencing the accounts for the discovered illegal content and accounts.

Tesla Announces the Production of the 3-Millionth Vehicle at the Shanghai Gigafactory, with One-Third Exported to Overseas Markets
At 6 p.m. today, as a Model Y rolled off the production line at the Tesla Shanghai Gigafactory, the 3-millionth vehicle officially came off the assembly line. According to the China Passenger Car Association, the Shanghai Gigafactory delivered 675,000 vehicles in the first three quarters of this year, accounting for more than half of Tesla's global deliveries in the same period. In March this year, Tesla became the world's first company to exceed the 6-million-unit production mark for pure electric vehicles, with the Shanghai Gigafactory contributing nearly half of the capacity. Among the 3 million vehicles produced at the Shanghai Gigafactory, one-third have been exported to overseas markets such as Europe and the Asia-Pacific region. (Sina Technology)

Investment and Financing:

Yizhu Technology Completes Hundreds of Millions of Yuan in Financing
36Kr has learned that recently, Yizhu Technology announced the completion of hundreds of millions of yuan in financing. This round of financing is led by a well-known overseas fund, with Shenshi Technology, Xingzhi Capital, and others participating, and the original co-founders of a well-known overseas GPU company making additional investments. Yizhu Technology was established in June 2020 and is committed to designing AI high-computing power chips with an in-memory computing architecture, combining new memory and in-memory computing architecture. Through a fully digital chip design concept, on the basis of the current industrial pattern, it provides a new alternative development path for AI high-computing power chips with a more cost-effective, higher energy efficiency ratio, and greater computing power development space.

Eberg Completes Strategic Financing
Recently, Eberg (Zhejiang) Machinery Co., Ltd. (referred to as "Eberg") has completed a strategic investment, with LIZHONG Investment as the sole investor. Prior to this, the General Technology High-End Equipment Industry Fund and Shanghai Electric Venture Capital completed the strategic increase of Eberg's holdings. Eberg is an innovative enterprise of high-end five-axis linkage milling heads, focusing on the domestic substitution of high-end five-axis linkage milling heads. (LIZHONG Investment)

Chuangshi Semiconductor Completes Hundreds of Millions of Yuan in Series A Financing
Recently, Chuangshi Semiconductor has completed several hundred million yuan in Series A financing, led by Hanlian Semiconductor Industry Fund, with the Zhejiang University Education Foundation and Shanghai Anchuang Chuangxin jointly investing. Chuangshi Semiconductor is a leading domestic CMOS image sensor chip development enterprise, focusing on the design and research and development of high value-added CMOS image sensor chips. Currently, it has launched more than ten CIS chips, all of which have been successfully taped out at one time, covering multiple application directions such as smart security, low-power IoT, smart vehicles, and machine vision. (Ajwdz.com)

New Products:

Hisense Fresh Air Conditioner Releases "Mini Oxygen Bar X7" with AI Intelligent Technology
36Kr learned that recently, Hisense Fresh Air Conditioner has released a new product, "Mini Oxygen Bar X7", which has been officially launched on the market. It is introduced that Mini Oxygen Bar X7 is equipped with AI intelligent technology, which can detect the indoor air quality in real time through TOVC sensors.

Today's Opinion:

Minsheng Securities: Several Unusual Signals from the Ministry of Finance's Press Conference Deserve Special Attention
36Kr has learned that Minsheng Securities' research report believes that the Ministry of Finance's press conference held today is particularly worthy of attention in the following aspects: 1. Regarding the issues related to the scale that the market is most concerned about, the Ministry of Finance has given hints of "intensity" in multiple responses. Therefore, Minsheng Securities expects that this round of incremental policies is a multi-year large-scale plan, and it will not "lag behind the curve" in terms of rhythm and scale. 2. Logically, the incremental policies are to repair the balance sheets of micro entities first, and then boost consumption and investment. 3. The "3% deficit ratio red line" is likely to become a thing of the past, giving room for imagination for future fiscal efforts. 4. The collaborative coordination between fiscal policies and financial policies is continuously advancing. Looking forward, the "scale" suspense of this round of incremental policies is expected to be settled within the next two weeks.

Wang Dongwei, Vice Minister of Finance: In-depth Exploration of Early Repayment of Special Bonds, Research on Establishing and Improving the Debt Repayment Reserve System

Wang Dongwei, Vice Minister of Finance, stated at a press conference held by the Information Office of the State Council that the Ministry of Finance will improve and perfect the asset ledger of special bond projects to ensure the balance between government liabilities and project assets, conduct in-depth exploration of the early repayment of special bonds, and research on establishing and improving the debt repayment reserve system. (China.org.cn)
 

Other News Worth Noting:

Shanghai: Supporting the Shanghai Technology Exchange to Build a National Intellectual Property and Scientific and Technological Achievements Property Rights Trading Institution
36Kr has learned that the General Office of the Shanghai Municipal People's Government has issued the "Shanghai Action Plan for Promoting the Transfer and Transformation of Scientific and Technological Achievements (2024 - 2027)". Build a specialized technology and intellectual property trading venue. Support the Shanghai Technology Exchange to build a national intellectual property and scientific and technological achievements property rights trading institution, strengthen the entire chain trading service functions such as confirming rights, determining prices, bidding, settlement, and enhancing credit for technical rights and interests, provide professional services for efficient connection, compliant transactions, and contract performance of trading subjects, and explore the securitization of technical property rights. Promote the joint development of the Shanghai Technology Exchange and the National Intellectual Property Operation (Shanghai) International Service Platform, improve the compliance supervision system, and support the construction of an interconnected national technology trading network.

China Passenger Car Association: In September, 1.123 million new energy passenger vehicles were retailed, with a year-on-year growth of 50.9%
36Kr learned that the data from the China Passenger Car Association shows that the production of new energy passenger vehicles in September reached 1.219 million, with a year-on-year growth of 51.5% and a month-on-month growth of 16.2%. From January to September 2024, the production was 7.859 million, with a year-on-year growth of 32.8%. The wholesale sales of new energy passenger vehicles in September reached 1.231 million, with a year-on-year growth of 48.1% and a month-on-month growth of 17.2%. From January to September 2024, the wholesale volume was 7.901 million, with a year-on-year growth of 33.7%. The retail sales of the new energy passenger vehicle market in September were 1.123 million, with a year-on-year growth of 50.9% and a month-on-month growth of 9.6%. From January to September 2024, the retail volume was 7.132 million, with a year-on-year growth of 37.4%.