8:01 AM | The credit for real estate white list projects has increased to 4 trillion yuan; Tourists claim that Shanghai Disneyland prohibits carrying playing cards; Experts remind to be cautious of being influenced by the internet amid the booming bull market.
Listing in Progress
Hubei Xingfu Electronic Materials Co., Ltd.
36Kr learned that the China Securities Regulatory Commission has approved the registration application of Hubei Xingfu Electronic Materials Co., Ltd. for its initial public offering of stocks and listing on the STAR Market.
TOP3 Big News
The credit for real estate white list projects has increased to 4 trillion yuan.
Cailian Press, October 17th. Ni Hong, the Minister of Housing and Urban-Rural Development, said at a press conference held by the Information Office of the State Council on October 17th that the credit scale for the "white list" projects will be increased to 4 trillion yuan by the end of the year. All eligible projects should be included in the "white list" as much as possible, and everything that should be done should be done. Ni Hong, the Minister of Housing and Urban-Rural Development: The credit scale for the "white list" projects will be increased to 4 trillion yuan by the end of the year. (Cailian Press)
Tourists Claim Shanghai Disneyland Bans Bringing Playing Cards
Recently, a tourist posted a video complaining that when entering Shanghai Disneyland, their bags were searched by security staff at the security checkpoint, and three items in the bag, scissors, a flashlight, and playing cards, were prohibited from being brought in. This incident has attracted widespread attention from netizens.
The person involved, Mr. Liu, told reporters that on October 12, the couple took their child to visit Shanghai Disneyland from Tianjin. The playing cards and children's scissors were used to play with the child during the high-speed rail journey and were kept in the bag. He was informed by the staff that these three items were not allowed to be brought into the park. They could either pay 10 yuan for storage or handle it themselves outside the park.
"Why can't playing cards be brought in?" Regarding the query, the staff replied, "This is Disneyland, not a chess and card room." Mr. Liu claimed that there is no clear regulation in the park admission notice that prohibits bringing playing cards. Associating playing cards with gatherings, theme activities, and hindering the operation of the park is rather far-fetched. "It is not realistic to spend several thousand yuan on tickets to go in and play poker. Their terms are very overbearing." The customer service stated that it is recommended to refer to the relevant regulations of the park. No behaviors that may hinder the operation of the park and any supporting facilities are allowed in the park. The specific requirements are subject to the on-site security check. (Sanxiang Metropolis Daily)
Experts Warn to Be Cautious of Being Dragged by the Network Amid the Hot Bull Market
Zhang Lu, a post-00s guy from Hefei, opened an account and entered the stock market during the National Day holiday after seeing the news of the limit-up of thousands of stocks on September 30. With insufficient principal, he applied for a 100,000-yuan credit loan. After buying at a high position, he suffered severe losses. He also traded other stocks but the returns were not good. He lost all his principal and owed 7,000 yuan. Since October, many banks have reiterated that credit funds are strictly prohibited from flowing into the real estate market, the stock market and other fields, and emphasized that once discovered, the loans will be recalled in advance.
In the interview, the reporter found that most stock investors who entered the market do not have relevant stock knowledge. They entered the market with loans to speculate in stocks because the bull market was previously hotly discussed, and the situation in the network seemed excellent. Now, they realize that they might have been dragged by the then network atmosphere, fearing to be left behind in the bull market. Their eagerness to win was too strong, and their pursuit of quick success and instant benefits led to being trapped in the market with loans. (Qilu Evening News)
Big Companies / Big Events
The Ministry of Commerce Responds to the Tariff Negotiations on Electric Vehicles between China and the EU: There Are Still Significant Disagreements in the Consultations
On the afternoon of the 17th, the Ministry of Commerce held a press conference. The spokesperson of the Ministry of Commerce responded to the progress of the tariff negotiations on electric vehicles between China and the EU: So far, China has shown the greatest sincerity and flexibility, and the two sides have made important progress in some areas. However, because the European side has not actively responded to the issues that involve the core concerns of the industries in China and the EU, there are still significant disagreements in the consultations. China has officially invited the technical team of the European side to come to China as soon as possible to continue the next stage of consultations, and has made all preparations for this and is waiting for the response from the European side. (CCTV News)
The Ministry of Commerce: Studying Measures to Increase Tariffs on Imported Large-displacement Fuel Vehicles, etc.
The spokesperson of the Ministry of Commerce introduced at the regular press conference on October 17 that China is studying measures to increase tariffs on imported large-displacement fuel vehicles, etc. A decision will be made carefully after comprehensively considering various factors. (CCTV News)
Pony.ai is said to be seeking no more than $300 million in investment in its US IPO and plans to publicly offer shares as early as this week.
36Kr learned that, it is reported that the self-driving startup Pony.ai is said to be seeking no more than $300 million in investment in its US IPO, and the company plans to publicly offer shares as early as this week.
The main force continues to increase positions in electronics and computer stocks in the late trading session while selling real estate stocks.
The main capital continues to have a net inflow in the late trading session in sectors such as electronics, computers, media, mechanical equipment, national defense and military industry, household appliances, etc., and a net outflow in sectors such as real estate, food and beverages, architectural decoration, public utilities, banks, power equipment, etc. Specifically for individual stocks, Haitong Securities, iSoftStone, and Kunlun Wanwei received a net inflow of 3.918 billion yuan, 3.288 billion yuan, and 2.604 billion yuan, respectively. In terms of net outflows, Oriental Fortune, Kweichow Moutai, and Yinzhi Jie were sold for 1.269 billion yuan, 0.808 billion yuan, and 0.581 billion yuan, respectively. (Yicai)
The State Administration for Market Regulation Deploys Pilot Work of Opening Credit Regulatory Data to Platform Enterprises
36Kr has learned that according to the official WeChat account of the State Administration for Market Regulation, recently, the State Administration for Market Regulation has deployed a pilot work of opening credit regulatory data to platform enterprises in Haidian District, Beijing. The pilot work lasts for 2 years. The Haidian District Market Regulation Bureau selects 3 to 5 platform enterprises as pilot units and opens the data of the list of abnormal business operations of national business entities and the list of seriously illegal and untrustworthy in market supervision and management to them in a safe and effective manner. The implementation of the pilot work will help solve the problem of asymmetric credit information between platform enterprises and settled merchants, guide platform enterprises to establish and improve the credit files of business entities, implement the main responsibility of credit compliance, strengthen the integrated online and offline supervision, and promote the construction of a good social environment with incentives for trustworthiness and penalties for untrustworthiness.
The Local Market Regulatory Bureau Has Intervened in the Case of Northeastern Sister Yu Selling Oil Stain Cleaner
On the evening of October 16, an anti-counterfeiting blogger released a video stating that the test results of the "Tian Miao Range Hood Heavy Oil Stain Cleaner" (500ml), a product sold by Northeastern Sister Yu in her live-streaming, showed that the sample directly sent by the consumer for inspection was determined to be "unqualified". The actual shortage of the five bottles of oil stain cleaner sent for inspection ranged from 9.4% to 12%. On October 17, the reporter tried to contact the "Northeastern Sister Yu" team but received no response. The phone number of Hebei Jieruxin Daily Chemical Co., Ltd., the manufacturer marked on the outer packaging of the involved oil stain cleaner, could not be reached. Previously, the person in charge of the manufacturer said that the product sent for inspection by the consumer could not prove that it was shipped from the factory, and the result should be subject to the appraisal of the market regulatory department. The Market Supervision and Administration Bureau of Cang County, Hebei Province, where the manufacturing enterprise is located, said that it has intervened in the investigation of this matter and conducted random inspections on the involved oil stain cleaner, and is waiting for the results of the random inspections. Lawyer Chen Zhihui from Beijing Jingdu Law Firm said that once this exclusive oil stain cleaner of Sister Yu is determined to be fraud by the relevant departments, according to the relevant regulations, Northeastern Sister Yu may face a sky-high compensation of hundreds of millions of yuan. If the fraud is true, Northeastern Sister Yu should take the initiative to assume the responsibility of refunding the consumer and compensating three times the amount. (Economic Television Live)
4 People Were Punished for Spreading Rumors about Sky-High Compensation for Demolition in Chengdu
On October 17, the Chengdu Public Security Bureau reported: Recently, information such as "Sichuan has launched a 2.15 trillion demolition project" and "There is a large-scale demolition in Chengdu, and some people get rich overnight" has appeared on the Internet, triggering social discussions and disrupting public order. The Chengdu Housing and Urban-Rural Development Bureau and the Planning and Natural Resources Bureau have refuted the rumors about the relevant situation. In response, the Chengdu Public Security Bureau has carried out an investigation in accordance with the law. After collecting relevant unverified online information, the offenders used AI software to generate false information about "Sichuan has launched a 2.15 trillion demolition project" and posted it on the online platform on October 15. The offenders Chen, Xu, and others posted false information such as "One of my friends was compensated with 17 suites" and "Not bad, I was compensated with 9.6743 million yuan" on the relevant online platforms, causing a bad social impact. Currently, the four people have been given administrative penalties by the public security organs in accordance with the law for disrupting public order by fabricating facts, in violation of the relevant provisions of the "Law of the People's Republic of China on Public Security Administration Punishments". (Jiupai News)
Goldman Sachs Asset Management is reportedly negotiating a financing plan for Swedish battery manufacturer Northvolt
According to people familiar with the matter, Goldman Sachs Asset Management, the second-largest shareholder of Swedish battery manufacturer Northvolt, is considering working with other investors to rescue the cash-strapped battery manufacturer. They believe the discussions are constructive, but also warn that the situation remains unstable and the company's participation will depend on the support of other investors. (Jiemian News)
Baiyu Pharmaceutical and Novartis Sign Exclusive License Agreement for an Investigational Antitumor Small Molecule Drug
Baiyu Pharmaceutical and Novartis have signed an exclusive license agreement for a small molecule antitumor drug. According to the agreement, Baiyu will receive an upfront payment of 70 million US dollars, as well as milestone payments and corresponding royalties that can reach up to 1.1 billion US dollars for various aspects such as development, registration, and commercialization. Novartis will obtain the global exclusive development and commercialization rights for this small molecule innovative drug. (21st Century Business Herald)
Will Moutai and Wuliangye Sold in Hong Kong See Price Drops? Responses from Local Specialty Stores
On October 16, Lee Ka Chiu, the Chief Executive of the Hong Kong Special Administrative Region, announced in his 2024 Policy Address that the tax rate on spirits would be adjusted with immediate effect. On October 17, some media reported that after the Hong Kong Special Administrative Region government reduced the tax on spirits, the price of Feitian Moutai in the Zhifu Guizhou Moutai Specialty Store in Hung Hom, Kowloon, Hong Kong would be adjusted downwards. In response, the reporter called the Moutai specialty store in the Hong Kong region. The store staff said that they have not received any notice of price reduction so far. The staff of the Guizhou Moutai Specialty Store in Hong Kong said: "There may be a price reduction, but the specific extent is not clear." In addition, the reporter also contacted other distributors of Guizhou Moutai in the Hong Kong region by phone, but no further response has been obtained for the time being. (Everyday Economic News Network)
Flight Schedule Change, Reduction in Fuel Surcharge, The Era of Hundred-Dollar Air Tickets Has Arrived
36Kr has learned that on October 27, domestic civil aviation will begin to implement the winter-spring flight season schedule, and multiple domestic and international routes will be added or encrypted. Currently, some airlines have announced the new route plans for the winter-spring flight season, such as Hainan Airlines' new Shenzhen - Madrid route, and Spring Airlines' Shanghai - Busan route. Due to the new route promotions and flight schedule adjustments, some international air tickets can be as low as hundreds of yuan. In addition, since October 5, the domestic route fuel surcharge has been lowered. After the adjustment, the collection standard for the domestic route fuel surcharge for adult passengers is 10 yuan per person per flight segment for flight segments of 800 kilometers and below; and 20 yuan per person per flight segment for flight segments over 800 kilometers. Compared with the previous standard, it has been reduced by 20 yuan and 30 yuan respectively.
Didi Responds to Illegal Mapping Incident: It Has Nothing to Do with Didi
On the afternoon of October 17, according to the WeChat public account of the "Ministry of State Security", the national security organs found that a certain overseas enterprise, Company A, in cooperation with Company B in China that has mapping qualifications, under the cover of conducting research on intelligent vehicle driving, illegally carried out geographic information mapping activities in China. Once this news was released, there were many speculations about who the above-mentioned companies were. In response, Didi stated that it has nothing to do with Didi. (Sina Technology)
Lei Jun: Xiaomi SU7 to Sprint for Delivering 20,000 Vehicles This Month, and Soon to Announce Breakthroughs in Intelligent Driving Technology
At the 2024 World Intelligent Connected Vehicles Conference held on October 17, Lei Jun, the chairman of Xiaomi Group, disclosed that Xiaomi SU7 will strive to achieve a delivery volume of 20,000 vehicles this month. Lei Jun revealed that Xiaomi Group's R & D expenses are expected to reach 24 billion yuan this year, and are expected to exceed 30 billion yuan next year. Moreover, the breakthroughs in Xiaomi Auto's intelligent driving technology will be announced soon. (Caixin News Agency)
The foreign trade import and export value of 11 provinces and cities in the Yangtze River Economic Belt reached 14.61 trillion yuan in the first three quarters of this year
According to the news from Nanjing Customs, in the first three quarters of this year, the foreign trade import and export value of 11 provinces and cities in the Yangtze River Economic Belt reached 14.61 trillion yuan, accounting for 45.2% of the national total import and export value. The scale has reached a new high in the same period in history. Among them, the foreign trade import and export of Jiangsu Province was 4.12 trillion yuan, an increase of 7.7%. The regional foreign trade accounted for 28.2% of the total foreign trade in the Yangtze River Economic Belt, ranking first in the Yangtze River Economic Belt. (CCTV News)
Yu Chengdong of Huawei: The Zunjie will be unveiled at the Guangzhou Auto Show and go on the market next spring
Yu Chengdong, Executive Director of Huawei and Chairman of the Intelligent Automotive Solution Business Unit, disclosed at the 2024 Intelligent Connected Vehicle Conference that the Zunjie, a collaboration between Huawei and JAC Motors, will be showcased at the Guangzhou Auto Show next month and will be launched in the spring of next year. It is a high-performance vehicle with a price of over one million yuan. (China Securities Journal)
Shanghai Adjusts Personal Housing Loan Policies for Housing Provident Fund
After being reviewed and approved by the Shanghai Municipal Housing Provident Fund Management Committee, the following notifications are made regarding the adjustment of the personal housing loan policies for the housing provident fund in this city: For those recognized as the second set of improved housing, the minimum down payment ratio is adjusted to 25%; For those recognized as the second set of improved housing, and the housing purchased with the loan is located in the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone and the entire administrative regions of Jiading, Qingpu, Songjiang, Fengxian, Baoshan, and Jinshan, the minimum down payment ratio is adjusted to 20%. This notification shall come into effect from October 18, 2024. The provident fund loans accepted before October 18, 2024, will be implemented according to the original policies, and the provident fund loans accepted on or after October 18, 2024, will be implemented in accordance with this notification. (The Paper)
Intel China Responds to Criticism: Strictly Abide by Laws and Regulations Applicable in the Business Location
On October 17, Intel China responded on its official Weibo to the criticism previously pointed out by the China Cyberspace Security Association: As a multinational company operating in China for nearly 40 years, Intel strictly abides by the laws and regulations applicable in the business location. Intel always prioritizes product safety and quality, and has been actively collaborating closely with customers and the industry to ensure the safety and quality of products. We will maintain communication with relevant departments to clarify relevant doubts and demonstrate our firm commitment to product safety and quality. (Jiemian News)
Meta Is Reported to Lay Off Employees in Departments Such as WhatsApp and Instagram
On October 17, sources familiar with the matter said that Meta will lay off employees in departments such as Instagram, WhatsApp, and Reality Labs. A Meta spokesperson stated that some of the company's teams are being adjusted to align with its long-term strategic goals and positioning strategy. The report did not specify the exact number of layoffs, but mentioned that the scale of the layoffs is not large. (Jiemian News)
Japanese labor unions are reportedly planning to demand a salary increase of more than 5% in the labor-management negotiations next spring.
It is reported that the Japanese Trade Union Confederation has basically finalized the draft guideline of demanding a salary increase of "more than 5%" in the 2025 spring labor-management negotiations (Shunto). Although the demand remains at the same level as in 2024, labor unions of small and medium-sized enterprises are expected to demand "more than 6%" in an effort to narrow the gap. A high-level salary increase has been achieved for two consecutive years. However, due to the continuous impact of high prices, labor unions believe that the same level of salary increase is also needed in the next spring's Shunto. (Jiemian News)
US Officials Demand Restrictions on Huawei and Other Related Companies in the Semiconductor Field, Ministry of Foreign Affairs Responds
The spokesperson of the Ministry of Foreign Affairs, Mao Ning, presided over a regular press conference. A reporter asked that according to Bloomberg, recently relevant US officials have demanded restrictions on Huawei and other related companies in the semiconductor field. What is the spokesperson's response to this? Mao Ning said in response that we have repeatedly clarified our position on this issue. We have always firmly opposed the US side's generalization of the concept of national security, artificially creating obstacles and undermining normal economic and trade cooperation between China and the US. Such an approach is not conducive to the stability of the global industrial and supply chain. She said, "We hope that the US side can correct its wrong practices and provide a fair, just and non-discriminatory environment for Chinese enterprises." (Global Times)
Japan Has Seen a Trade Deficit for 3 Consecutive Months
The preliminary statistics released by the Ministry of Finance of Japan on October 17 show that due to a decrease in exports and an increase in imports, Japan had a trade deficit of 294.3 billion yen in September (about 1 US dollar equals 144.27 yen), marking a trade deficit for three consecutive months. Data shows that Japan's export volume in September was 9.04 trillion yen, a year-on-year decrease of 1.7%. Among them, the export volumes of automobiles, mineral fuels, and construction and mining machinery decreased by 9.2%, 49.8%, and 33.3% respectively year-on-year, while the export volume of semiconductor and other manufacturing equipment increased by 26.3% year-on-year. (CCTV News)
Amazon Announces Discontinuation of Kindle Oasis
Amazon has announced that it will stop manufacturing its only e-reader with physical page-turning buttons - Kindle Oasis. With the launch of a new Kindle product line, Amazon confirmed this news to the foreign media The Verge, marking the end of the Oasis series. (Global Network Technology)
Apple Launches New Service to Help Enterprises Connect with 1 Billion Users
Apple has expanded its "Apple Business Connect" tool to assist enterprises in strengthening their connections with customers and creating a brand image within Apple applications. After the update, certified enterprises can display their LOGOs in applications such as Maps, Wallet, Phone, and Mail to enhance recognition. The new features include brand email registration, business caller ID, and tap-to-pay display, etc. (Global Network)
Google Requests Court to Halt Enforcement of Epic Lawsuit Verdict, Claiming It Jeopardizes Android Security
Tech giant Google has appealed to the Ninth Circuit Court, asking to suspend the recent verdict made by Judge James Donato in the Epic Games v. Google case. Google had previously made the same request to Judge Donato, but now the company is not waiting for the judge's decision and is directly seeking intervention from a higher court. Google has appealed against this verdict, which requires Google to distribute third-party app stores in Google Play, no longer mandatorily use Google Play Billing, and a series of other changes, many of which will come into effect on November 1. (ITHome)
Microsoft Invites Beta Testers for New Features in Excel and PowerPoint: Regularizing Handwritten Lines and Shapes
Microsoft has launched the Draw and Hold gesture feature, which has been implemented in OneNote and Word, and is now extended to Excel and PowerPoint. This feature can automatically convert hand-drawn shapes into neat versions, supporting various shapes and decorative shapes. Users can adjust the size and rotation. This will enhance users' productivity in the office. (ITHome)
Intel Announces 1,300 Job Cuts in Oregon
Intel has informed the Oregon state government of the upcoming job cuts. The announcement shows that 1,300 Intel employees distributed in four offices in Oregon will be laid off. (Caixin)
The Forefront of AI
It is reported that SK Hynix reduces R&D investment in CIS and focuses on the development of HBM and AI memory
According to reports, sources revealed that SK Hynix is cutting its image sensor and foundry businesses with lower commerciality and strengthening its focus on high-profit high-bandwidth memory (HBM) and AI memory. SK Hynix is reducing its R&D investment in CMOS image sensors (CIS), and the production capacity is expected to be reduced by more than half compared to last year, to less than 7,000 12-inch wafers per month. In addition, the staff of the system-on-chip (SoC) design department responsible for designing storage controllers, etc., have also been transferred and reallocated to the HBM department. (Caixin)
Big Company Financial Reports
Nokia: Adjusted Operating Profit Margin in Q3 is 10.5%
Nokia's adjusted operating profit in the third quarter is 454 million euros, with the market estimate being 445.2 million euros. The adjusted operating profit margin in the third quarter is 10.5%, while the market estimate is 9.45%. Nokia still predicts an adjusted operating profit of 2.3 billion euros to 2.9 billion euros for the full year, with the market estimate being 2.35 billion euros. (Caixin)
Investment and Financing
Shanghai Yingxin Resonance Completes Tens of Millions of Yuan Angel + Round Financing
36Kr learned that the Aiqicha APP shows that Shanghai Yingxin Resonance has completed tens of millions of yuan in Angel + round financing, and the investor is Yuanhe Puhua. Yingxin Resonance is a R & D and manufacturer of MEMS micro-mirror array chips, mainly engaged in the research and development, design, production and sales of MEMS chips, devices and components, microelectronic devices and components, and sensor application system integration.
Tao Yuan Technology Completes Series A Financing
Recently, Zhejiang Tao Yuan Technology has completed Series A financing. The investors are Moganshan Fund and PwC Capital. The amount of financing has not been disclosed. The funds will be mainly used to increase R & D investment, expand production and market sales. Tao Yuan Technology was established in 2016, dedicated to the R & D, production and sales of solenoid valves and related products. Its main products include low-power intelligent chips and coils for solenoid valves, high-end solenoid valves and valve island series products, as well as solenoid valve testing instruments and equipment, etc. (Moganshan Fund)
"Yuntong Technology" Completes Series B1 Financing of Several Ten Million Yuan
Recently, "Yuntong Technology" has completed Series B1 financing of several ten million yuan. This round of financing was invested by Kaiding Capital and Foshan Talent Group. The funds from this financing will be mainly used for the research and development of new applications/new products, to accelerate the mass production of existing products, and to provide support for the company to continuously serve the main engine factories and assist in the localization and safety of the new energy vehicle supply chain. (Finance Network)
"Dayu Technology" Receives Seed Round Financing
36Kr learned that "Dayu Technology" has received seed round financing, with a post-investment valuation of several million yuan. This round of financing is exclusively invested by TusStar, and the funds will be used for the manufacturing and testing of the second-generation prototype vehicle. Mushi Capital serves as the exclusive financial advisor.
Cool Products
OPPO Releases ColorOS 15, to Be First Equipped on OPPO Find X8 Series and OnePlus 13
36Kr learned that OPPO has released a new operating system, ColorOS 15. In terms of interaction methods, ColorOS 15 supports the system-level interaction "One-click Query Screen", providing AI one-stop services through voice dialogue, circle search, and other methods. In terms of image creation, ColorOS 15 supports one-click AI image editing, such as AI functions to remove reflections and trailing shadows. ColorOS 15 also comes with the self-developed smooth dual engines "Aurora Engine" and "Tide Engine", providing a 22% improvement in the overall smoothness of the device. ColorOS 15 will be first equipped on the OPPO Find X8 Series and OnePlus 13.
Big Events of 36Kr
"Krypton Major Events" short video column, vividly interpreting major events in the business world. China officially announces the exploration of extraterrestrial life! What does this have to do with us workers?
Young People's "Drinking" Survey
Drinking, which once seemed like an entertainment activity solely for middle-aged people, has now turned into a life-sustaining cure for young people to "shake off the work taste". From nightclubs to convenience stores, from bars to street corners, contemporary young people are actively exploring new forms and scenarios of drinking - some people purchase cocktail-making kits and attempt to make their own at home, not because they cannot afford to drink in a quiet bar, but because it is more cost-effective to replicate at home; some people bring the baijiu from business social occasions back home and mix it with tea. After the post-00s put down beer, a baijiu craze has emerged...
This traditional social and entertainment way of drinking is being quietly subverted by young people. Which type of alcohol do you prefer? How does everyone enjoy the slightly tipsy moments brought by alcohol after a busy work and study? Welcome to scan the QR code to participate in our "Young People Drinking" survey and share your drinking preferences with us~
Scan the QR code to participate in the survey
Compiled by | Cheng Jiahui