8:01 AM, 36Kr | Shareholders who cashed out 30 million yuan have been ordered to repurchase and hand over the price difference; The number of complaints about live-streaming with goods has soared by more than 47 times in the past 5 years; The 2024 Nobel Prize in Economics has been announced.
Listing in Progress
Hyundai Motor Group India Branch
Hyundai Motor Group India Branch of South Korea stated in the regulatory documents that the company will start accepting orders for its $3.3 billion initial public offering (IPO) in Mumbai from Monday. This will be the largest equity offering in India's history and the second-largest IPO globally in 2024. Hyundai Motor will not issue new shares in the IPO, and its South Korean parent company will sell up to 17.5% of its stake in the wholly-owned subsidiary, with a value of up to $19 billion. (Sina Finance)
Qiniu Intelligent Technology
IFR citing unnamed sources reports that Qiniu Intelligent Technology Co., Ltd., a cloud computing and data service provider, raised HK$439 million through a Hong Kong IPO. The IPO price was set at HK$2.75 per share, with a guidance range of HK$2.74 to HK$2.86 per share. (Sina Finance)
Top 3 Big News
Shareholders Who Cashed Out 30 Million Were Ordered to Repurchase and Hand Over the Price Difference
Within just two weeks, three individuals successively acquired shares of three listed companies on the Beijing Stock Exchange and then quickly sold and exited the market. The exchange and the securities regulatory bureau promptly took action against this violation. Recently, the Beijing Stock Exchange and the securities regulatory bureaus in four regions simultaneously "showed their swords" and took regulatory measures against the illegal reduction of holdings by Wang Xiaoqing and the other two individuals. It is disclosed that the three individuals who received the fines were (former) shareholders of listed companies on the Beijing Stock Exchange. They all acquired shares of listed companies on the Beijing Stock Exchange through block trades and then sold them in the secondary market. The period of illegal reduction of holdings was from September 27 to October 8, and the traded stocks included four stocks such as Airong Software and Huaxin Yongdao.
The "quick-flash" style of reduction and cashing out by the three individuals coincided with the recent hot A-share market. The stocks involved were precisely the "leaders" in this wave of the Beijing Stock Exchange market. Wind data shows that during the period from September 24 to October 8, the interval increase of Huaxin Yongdao and Airong Software was as high as 227% and 148%, ranking the top two among all 253 stocks on the Beijing Stock Exchange. Calculated based on the purchase and sale amounts, Wang Xiaoqing made a profit of over 32 million from the above two stocks.
For the above-mentioned violations, the Beijing Stock Exchange and the securities regulatory bureaus have taken measures such as restricting trading for six months, ordering repurchase, and handing over the price difference against the three responsible individuals. Zhou Yunnan, the founder of Beijing Nanshan Investment, analyzed that the Beijing Stock Exchange quickly gave the maximum penalty, indicating the determination to crack down on and punish illegal transactions strictly and quickly. This is also the first time that the Beijing Stock Exchange has made a penalty decision for secondary market investors in nearly three years since its opening. (First Finance and Economics)
The number of complaints about live-streaming with goods has increased by more than 47 times in the past 5 years
Data shows that in the recent 5 years, the domestic live-streaming e-commerce market has grown by 10.5 times. Meanwhile, the increase in the number of complaints and reports is as high as 47.1 times. Problems such as false publicity, uneven product quality, and difficult guarantee of after-sales service that occur frequently in the field of live-streaming with goods have buried many hidden dangers for the future development of the industry. It is hoped that the relevant departments will speed up the formulation of industry standards and norms, guide anchors and platforms to consciously abide by laws and regulations, curb the chaos of anchors' "car crash" in bringing goods, and further protect the legitimate rights and interests of consumers. (CCTV.com)
The 2024 Nobel Prize in Economics Announced
On October 14, the winners of the 2024 Nobel Prize in Economics were revealed. Professors Daron Acemoglu and Simon Johnson from MIT, and James A. Robinson from the University of Chicago received this award in recognition of their "research on how institutions are formed and how they affect prosperity". In the previous three years, the Nobel Prize in Economics was awarded to studies in areas such as causal relationship analysis, response to financial crises, and the female labor market, respectively. (The Paper)
Big Companies / Major Events
Scientists Use Artificial Intelligence to Discover the Smallest Planet Closest to Its Host Star to Date
Recently, an international team led by Professor Ge Jian from the Shanghai Astronomical Observatory of the Chinese Academy of Sciences has innovated a deep learning algorithm that combines GPU phase folding and convolutional neural networks, and has successfully discovered five ultra-short-period planets with diameters smaller than the Earth and orbital periods shorter than one day in the stellar photometric data released by Kepler in 2017. Among them, four are the smallest planets closest to their host stars discovered so far, similar in size to Mars. (CCTV News)
Police Respond to Xiaomi SU7 Crashing into Bus Stop
On October 13, a video of a Xiaomi SU7 getting into a car accident and crashing into a bus stop in Xi'an circulated on the Internet. The video shows that a Xiaomi SU7 was accelerating on the road when suddenly a two-wheeler rushed out from the left side of the road, and the two vehicles collided. After the collision, the Xiaomi SU7 first crashed into the isolation greenway in the middle of the road for a second collision, and then hit the bus stop on the right for a third collision.
On October 14, Red Star News learned from the relevant departments of the Xi'an Traffic Police that the incident occurred near Ziwuda Avenue in Chang'an District, and the traffic police department is currently handling this accident. "The accident is quite serious. The two injured people are currently in a relatively stable condition and are being treated in the hospital." (Red Star News)
Million-Follower Blogger "Tingquan Jianbao" Suspected of Scandal, Exposed for Faking Academic Qualifications
Recently, after Little Yangge and "Northeast Yu Jie", another million-follower internet celebrity is in trouble - the blogger "Tingquan Jianbao" with nearly 25 million followers has been exposed for faking academic qualifications, suspected of having museum relics in the live-streaming room, and suspected of having tomb robbers connecting to the live-stream for appraisal, which has attracted attention and related topics have frequently been on the trending list. On the evening of October 9, the blogger "Tingquan Jianbao" announced in the live-streaming room that it will temporarily stop broadcasting for a few days, and the suspension period is about one week. Public reports show that the blogger "Tingquan Jianbao" has been extremely popular recently. The third-party data platform shows that it has gained 9.59 million followers in the past 30 days. In the past 7 days, although the 10 live-streaming sessions are about 2 hours each, the average number of viewers per session has exceeded 12 million, with astonishing traffic. (Upstream News)
It is reported that Xiaohongshu's net profit in the first quarter of this year reached 200 million US dollars
It is reported that the social media platform Xiaohongshu achieved a net profit of 200 million US dollars in the first three months of this year, with revenue slightly higher than 1 billion US dollars. This performance is significantly higher than the 40 million US dollars in net profit and 600 million US dollars in revenue in the same period last year. This strong growth is mainly due to Xiaohongshu's increased advertising efforts towards Generation Z female consumers. (Observer.com)
CITIC Securities: Positive Fiscal Policy, Credit Risk Mitigation, Boosting Bank Stock Valuations
36Kr learned that the research report of CITIC Securities stated that the counter-cyclical adjustment of fiscal policy has been strengthened, mitigating the credit risks of the two major sectors that are systematically important for banks (urban investment and real estate sectors), which helps improve the stability of bank net assets and has a positive impact on bank stock valuations. Although the capital replenishment of state-owned banks has a dilution effect, it is expected to be controllable. From a long-term perspective, it is expected to consolidate the sustainable development capacity of large state-owned banks. Overall, the Ministry of Finance meeting on October 12 has formed a substantial positive for bank stocks, further enhancing the certainty of the sector. It is recommended that investors actively increase their allocation.
Pony.ai: Autonomous Driving Mobility Service Integrated into Gaode App, Now Available for Users in Guangzhou
The autonomous driving company Pony.ai announced a collaboration with the mobility technology enterprise Gaode. The autonomous vehicles of Pony.ai have been integrated into Gaode's integrated mobility platform. Through the Gaode Map App and related mini-programs, users in Guangzhou can experience a futuristic unmanned mobility mode. Both parties plan to open more cities and regions in the future. (Sina Technology)
CaoCao Mobility CEO Gong Xin: To launch a fully customized Robotaxi model within two years
On October 14, at the Promotion Conference of the "Vehicle-Road-Cloud Integration" Application Pilot of Intelligent Connected Vehicles in Suzhou and the 6th Global Intelligent Driving Conference, Gong Xin, the CEO of CaoCao Mobility, was invited to attend the summit and deliver a keynote speech. In the speech, Gong Xin revealed CaoCao Mobility's Robotaxi strategic plan for the next five years: To launch a fully customized Robotaxi model within two years; meanwhile, combining the travel operation experience accumulated over the past nine years, CaoCao Mobility will build an automated operation system covering all scenarios. The application will be launched in 2025 and officially open in 2026. (Jiemian News)
Nvidia CEO Jensen Huang: Hopes the company to have 50,000 employees and 100 million AI assistants
Nvidia CEO Jensen Huang said today that he hopes Nvidia will be able to deploy 100 million AI assistants in the future to further improve the company's productivity. He also emphasized that this will not lead to layoffs in the company. In the "Bg 2" podcast released on Sunday local time, Jensen Huang said: "I hope that Nvidia can one day become a company with 50,000 employees and be equipped with 100 million AI assistants throughout various departments of the company." Jensen Huang also envisioned a future where Nvidia will deploy AI assistants (agents) on a large scale in every department of the company to increase output. At that time, the AI agents will break down tasks into multiple smaller steps, with each step handling a specific task to achieve a broader goal. (Sina Technology)
Seres Wuhan AITO M9 Accident Statement: Before the Accident, the Vehicle Had Exited Intelligent Driving, and the Vehicle's Braking, Steering, and Acceleration Functions Were Normal
36Kr has learned that Seres Motors released a statement on the AITO M9 accident in Wuhan on its official Weibo. The statement is as follows: At around 15:54 on October 9, 2024, an AITO M9 collided with a large truck in the opposite lane in Wuhan. We are deeply saddened by the casualties in the accident. Through data analysis, it was found that before the accident, the vehicle had exited intelligent driving, and the vehicle's braking, steering, and acceleration functions were normal. We are actively cooperating with the local traffic police department to conduct an accident investigation and providing all possible support to the vehicle owner and their family.
General Administration of Customs: In the first three quarters, domestic imports and exports reached 32.33 trillion yuan, breaking the 32 trillion yuan mark for the first time
A press conference was held by the Information Office of the State Council to introduce the import and export situation in the first three quarters of 2024. Wang Lingjun, Deputy Director of the General Administration of Customs, introduced that according to customs statistics, in the first three quarters, domestic imports and exports reached 32.33 trillion yuan, with a year-on-year growth of 5.3%. Among them, exports were 18.62 trillion yuan, an increase of 6.2%; imports were 13.71 trillion yuan, an increase of 4.1%. The total value of domestic imports and exports reached a new high, with each quarter exceeding 10 trillion yuan. In the first three quarters of the same period in history, it exceeded 32 trillion yuan for the first time. The imports and exports in each quarter were 10.15 trillion yuan, 11 trillion yuan, and 11.17 trillion yuan respectively, all exceeding 10 trillion yuan, which is also the first time in the same period in history. (Xinhua News Agency)
Huawei Mate 70 May Offer Dual-Framework System
On the morning of October 14, Rui Ge Playing with Digital posted and disclosed: "In view of the current NEXT progress, the Mate 70 series is very likely to adopt 'Plan B', that is, a dual framework. It is expected to be released in mid-to-late November. For reference only, subject to the actual situation." According to the introduction, the Mate 70 series is simultaneously adapted to single/double frameworks (the former is "Pure Blood Hongmeng", and the latter is Hongmeng compatible with Android applications) to take into account the overseas market.
Previously, it was reported that the entire Huawei Mate 70 series has been mass-produced and is scheduled to be launched in November. A person from the supply chain said, "The components have already been supplied. If it's fast, it may also be possible by the end of October. Currently, a lot of the entire mobile phones have been produced." (IT Home)
Taiwan Semiconductor Manufacturing Company's total market value once again reaches $1 trillion
The stock price of Taiwan Semiconductor Manufacturing Company has risen to a record high, and its total market value once again reaches $1 trillion. (Jiemian News)
CITIC Construction Investment: Intensive Testing of New Game Products
36Kr has learned that the research report of CITIC Construction Investment indicates that recently, there has been an intensive testing of new game products. This includes the first round of testing of "Douro Continent: Legend of Exorcism" by Kaiying Network, the excellent test data of "Dragon Nest World", and the first round of file deletion testing of "Notes on Tomb Raiding: Departure" at the end of September. For Gigabit, both "M72" and "M88" have completed the first round of paid testing. From the demand side, the market scale of domestic games from January to August this year has increased by 3.3% year-on-year, with both old and new games contributing. From the supply side, the number of game licenses from January to September has exceeded 1,000, with a year-on-year growth of approximately 37%, indicating that the supply side is still very sufficient. In addition, with the introduction of the new merger and acquisition regulations, it is expected that the market-oriented merger and acquisition and reorganization in the game industry will return to the right track.
Apple Vision Pro's Second-hand Price Drops by $1000
Data shows that since its release in January this year, the speed of new applications released on Vision Pro every month has been slowing down. So far, some of the most successful VR software developers have not chosen to tailor apps for Vision Pro. Due to the lack of sufficient killer applications, many Vision Pro users have found that the practicality of the device is greatly reduced and have chosen to sell it, which has also led to the price of Vision Pro in the second-hand market starting to drop rapidly...
According to data from analytics firm Appfigures, the Vision app store only launched 10 apps in September, far fewer than the hundreds in the first two months of the device's launch. According to the company's statistics, as of September, about 1770 apps are available for Vision Pro on the App Store. Appfigures said that only 34% of the applications are developed specifically for Vision Pro, and the rest are versions of existing Apple applications that simply add functions adapted to Vision Pro. In the past few months, the resale price of Vision Pro in the second-hand market has shown a diving trend. On the overseas second-hand electronics trading platform Swappa, the Vision Pro with an official price of $3499 has an average second-hand price of only $2494 in September, further lower than $2710 in August. (Caixin)
The United States lifts the import ban on Malaysian glove manufacturer Brightway
The U.S. Customs and Border Protection (CBP) stated in a statement on October 11 local time that it has modified the detention and release order issued for disposable gloves produced by the Malaysian company Brigthway. From now on, the United States will allow disposable gloves produced by Brightway to enter the United States, but these gloves must comply with U.S. laws. CBP had banned the import of disposable gloves produced by three subsidiaries of Brigthway in December 2021 due to suspected forced labor. (Jiemian News)
Delta Air Lines Suspends Hot Meal Service on Over 200 Flights Due to Food Safety Issues
Delta Air Lines, the US-based airline, said that due to "food safety issues", it had to suspend the hot meal service on more than 200 flights departing from the Detroit Metropolitan Wayne County Airport hub in the past few days. Delta Air Lines said in a statement on Sunday local time: "During a recent inspection of the DTW kitchen, Delta Air Lines' catering partner was informed of food safety issues at the facility. Delta Air Lines and its catering partner immediately shut down hot food production and subsequently suspended all activities at the facility. Hot meals and other in-flight supplies will be managed by other facilities." (Sina Finance)
After Singapore announced its third-quarter GDP, UOB raised the country's fiscal year economic growth forecast
After Singapore announced strong third-quarter GDP data, UOB economists raised their forecast for Singapore's real GDP growth in 2024 from 2.9% to 3.3%. In contrast, the official forecast of the Singaporean government is 2.0% - 3.0%. Economist Jester Koh said that core inflation is easing and price pressures in some aspects have also loosened. Koh said that as the output gap is expected to be closed in the second half of the year, coupled with enhanced economic activities, demand-side inflation risks still exist. (Sina Finance)
The Governor of the Reserve Bank of India Warns: Guard Against the Financial Stability Risks Potentially Caused by Artificial Intelligence
The Governor of the Reserve Bank of India, Shaktikanta Das, said on Monday that the increasing use of artificial intelligence and machine learning in global financial services could lead to financial stability risks, and it is necessary for the banking industry to take appropriate risk mitigation measures. Financial service providers in India are leveraging artificial intelligence to enhance the customer experience, reduce costs, manage risks, and drive growth through chatbots and personalized banking services. (Sina Finance)
The EU Launches Anti-dumping Investigation on Hardwood Plywood from China
36Kr has learned that, according to the China Trade Remedy Information Network, on October 11, the European Commission issued an announcement stating that, in response to the application submitted by the Greenwood Consortium on August 27, 2024, an anti-dumping investigation has been initiated on hardwood plywood (Hardwood Plywood) originating from China. The dumping investigation period for this case is from July 1, 2023 to June 30, 2024, and the injury investigation period is from January 1, 2021 to the end of the dumping investigation period. The preliminary ruling of this case is expected to be made within 7 months, and no more than 8 months at the longest.
Google Hopes to Suspend the Enforcement of the Open Order for Third-Party App Stores
Google has requested a judge in California, the United States, to suspend the enforcement of the open order for Google's third-party app stores. In court documents submitted on the evening of October 11 local time, Google stated that this order would harm the company's interests and bring "serious security, safety, and privacy risks to the Android ecosystem," and therefore requested that the enforcement of this open order be suspended during the appeal period. (Jiemian News)
Tokyo Metro's IPO Raises $2.3 Billion, the Largest in Japan in Six Years
According to people familiar with the matter, Tokyo Metro's IPO has raised 348.6 billion yen (equivalent to $2.3 billion). The company set the share price at 1,200 yen per share, at the upper end of the market pricing range, indicating strong market demand for this largest IPO in Japan in six years. The offering price of the shares is between 1,100 yen and 1,200 yen per share. The company is expected to be listed in Tokyo on October 23. Institutional data shows that this is the largest IPO in Japan since SoftBank's $21 billion listing in December 2018. Japan's IPOs this year have raised $1.6 billion. The listing of Tokyo Metro and other transactions may bring this figure close to $4.4 billion for the full year of 2023. (Sina News)
South Korea's semiconductor export value in September reached 13.63 billion US dollars, setting a new historical high
A data released by the Ministry of Science and ICT of South Korea shows that in September this year, South Korea's information and communication technology (ICT) export value increased by 36.3% year-on-year to 22.36 billion US dollars, maintaining a growth trend for 11 consecutive months and setting the second-highest record for a single month in history. Benefiting from the AI technology trend that boosts server investment, the semiconductor export value was 13.63 billion US dollars, setting a new historical high. During the same period, the import value of ICT increased by 15.9% to 12.48 billion US dollars. As a result, the ICT trade balance in September achieved a surplus of 9.88 billion US dollars. (Jiemian News)
Foreign Media: SHEIN Becomes the Second Largest Clothing and Fashion Brand in France
36Kr has learned that, according to foreign media reports, SHEIN has become the second largest clothing and fashion brand in France, almost on par with ZARA. According to the ranking of the French professional consumer journal LSA, SHEIN's sales in France in 2023 exceeded H&M, Primark, and even Kiabi, slightly lower than the Zara brand under the Spanish Inditex Group. Based on SHEIN's consistently high annual growth rate, institutions predict that the sales of the SHEIN brand in France will exceed Zara in 2024.
The Forefront of AI
The registered users of China's generative artificial intelligence service large model exceed 600 million
The Ministry of Industry and Information Technology recently stated that as of now, the scale of China's artificial intelligence core industry is continuously increasing. The registered users of the generative artificial intelligence service large model exceed 600 million, and the number of enterprises exceeds 4,500. A group of specialized and sophisticated enterprises in the field of artificial intelligence are thriving, with continuously enhanced technological innovation capabilities. The number of patent applications and authorizations ranks among the top in the world. (Global Network Finance)
Huang Renxun Calls Elon Musk Like Superman: Building the "Strongest" AI Training Cluster in 19 Days
In an interview aired on October 13, Nvidia CEO Huang Renxun talked about Elon Musk's artificial intelligence company xAI building the AI training cluster Colossus in a short period of time, praising Musk and his team as incredible and like Superman. Huang Renxun said, "xAI accomplished in 19 days what others would take a year to complete. No one has ever done that before. That's what only a Superman can do, and there is only one person in the world who can do that, and that is Elon Musk. His understanding of engineering, construction, large-scale systems, and resource allocation is unique." (The Paper)
Investment and Financing
"Aurora Satellite Communications" Completes Hundreds of Millions of Yuan in Series A+ Financing
36Kr has learned that recently, "Aurora Satellite Communications" announced the completion of hundreds of millions of yuan in Series A+ financing. This round of financing is jointly invested by Fuhong Capital, Yangtze River Capital, Yarong Capital, Chuangye Heima, Optics Valley Industry Investment, Puhua Capital, Rongdao Capital, Huazhen Capital, and Yaru Capital. Index Capital continues to serve as the financial advisor. The funds will be mainly used for product research and development, production and manufacturing, equipment procurement, and operating costs, etc.
Reading Group Invests in Card Company Hitcard
36Kr exclusively learned that the card trend culture brand Hitcard has recently received a new round of financing, led by Reading Group. After the completion of the equity change, it is expected that Reading Group will own 10% of the equity of Hitcard. Sources said that the investment in Hitcard is one of the links to accelerate the commercialization of the "Reading Good Things" business.
The intelligent homestay brand "Tujia Mingyu" has obtained 30 million yuan in Series A financing
36Kr has learned that recently, Suzhou Tujia Mingyu Business Operation Management Co., Ltd. announced the completion of a 30 million yuan RMB Series A financing. This round of financing is led by Huazhong Capital, with several institutions participating. The financing funds will be used for brand building, market expansion, technology application, etc. It is introduced that Tujia Mingyu is a C2B2C model homestay operation platform, providing a one-stop solution from property selection, cost negotiation, design and construction to supply chain support, rental and sale release, and daily cleaning.
Cool Products
Honor MagicOS 9.0 will be released on October 23rd
36Kr has learned that on October 14th, Honor announced that it will launch the personalized full-scenario AI operating system MagicOS 9.0 with a cross-application open ecological intelligent body. It is understood that the MagicOS 9.0 launch event and developer conference will be held at the Zhongguancun International Innovation Center in Beijing from October 23rd to October 24th. In addition, the new generation flagship Magic7 series, which will be the first to be equipped with MagicOS 9.0, will be officially released on October 30th.
Big Events of Kr
The "Big Events of Kr" short-video column vividly interprets major events in the business world. Why doesn't the Bitcoin founder, who created Bitcoin in 2008 and hasn't touched a cent since then, and has $60 billion in Bitcoin, dare to spend the money?
The "Big Events of Kr" short-video column vividly interprets major events in the business world. Starship was perfectly recovered. Has Elon Musk won big again?
Organized by｜Cheng Jiahui