Krypton Evening Post | Boeing is reportedly disbanding its global diversity department; Bain Capital plans to make a tender offer for Fujitsu Software early this month.
Big Companies:
Kia's Global Sales Rose by 2.8% in October
Korean automaker Kia announced that its global sales in October 2024 were 264,854 units, an increase of 2.8% year-on-year. Among them, sales in the Korean market were 46,025 units, an increase of 7.1% year-on-year; sales in markets outside Korea were 217,901 units, an increase of 1.8% year-on-year. (Jiemian)
Boeing Reportedly Dissolves Global Diversity Department
According to Bloomberg, sources familiar with the matter revealed that Boeing has dissolved its Global Diversity, Equity and Inclusion (DEI) department. It is reported that the employees of this department will be merged with another human resources team that focuses on talent and employee experience. Sara Liang Bowen, the former vice president in charge of the department, announced earlier that she has left the company. (Jiemian)
36Kr learned that recently, MINISO MINISO LAND Global Flagship Store officially opened in Nanjing Road, Shanghai. As the world's first scene-based IP co-branded collection store, the store covers an area of nearly 2,000 square meters and brings together more than 70 globally renowned IPs. During the store's trial operation in the first month, IP sales accounted for more than 70%, and the total store sales reached 12.03 million yuan, setting a new high for monthly sales of global stores.
Shiseido: Will Debut New Skin Care Experience for Future Mobility Space at the 7th CIIE
36Kr learned that today, Shiseido China announced that it will showcase its innovative skin care experience customized for the future mobility space at the 7th China International Import Expo. It is understood that during the Expo, experiencers will receive skin diagnosis in the "Beauty Moment Experience Cabin" created by Shiseido through the loaded "4D Facial Aging Simulation Technology".
Bain Capital Plans to Make a Tender Offer for Fujitsu Software Early This Month
Bain Capital said on November 1 that it plans to make a tender offer for Fujitsu Software early this month, but is still waiting for the company's approval. Bain Capital said it has held Q&A sessions with Fujitsu Software on October 24 and 29 and will continue to discuss to obtain the latter's affirmative opinion. (Jiemian)
Intel CEO Pat Gelsinger stated at the company's Q3 2024 earnings conference call that the next-generation client processor after Arrow Lake, Panther Lake, will be launched in the second half of 2025, and more than 70% of its silicon area will be internally manufactured. (IT House)
Wang Jianlin Continues to Sell Overseas Assets, Selling UK Yacht Manufacturer for £160 Million
After clearing the equity of Legendary Pictures in the United States, Wang Jianlin continues to sell Wanda's overseas assets. It is understood that Dalian Wanda Group sold the luxury yacht manufacturer Sunseeker International Ltd. to Lionheart Capital and Orienta Capital Partners for £160 million. Reports said that the transaction has received regulatory approval, but no specific terms were disclosed. As of the time of publication, Wanda has not responded to this. (The Paper)
Estée Lauder: Withdraws Full-Year Business Outlook and Reduces Dividend to a More Reasonable Level
36Kr learned that Estée Lauder has withdrawn its full-year business outlook and reduced the dividend to a more reasonable level. The withdrawal decision is mainly due to the uncertainty of the new CEO candidate and the complex industry environment. It is understood that Estée Lauder announced that the board of directors appointed Stéphane de La Faverie as its new president, CEO, and board member, effective January 1, 2025. In addition, Estée Lauder said that in terms of strategic adjustment, this fiscal year will revitalize the skin care category; fully utilize the power of the multiple growth engines of high-end perfumes; make faster use of winning channels; launch incremental innovations to seize major opportunities; and use data and artificial intelligence to strengthen precision marketing.
Investment and Financing:
Thailand Approves Nearly $2 Billion in Data Center and Electronic Manufacturing Investment Projects
The Thailand Board of Investment announced on November 1 that it has approved new investment projects in electronic manufacturing and data centers worth a total of 66.9 billion baht (approximately $2 billion). According to the statement, Alphabet's subsidiary Quartz Computing was approved to invest 32.8 billion baht to establish an ultra-large-scale data center in Chonburi Province. This project was first announced during Google executives' visit to Thailand on September 30. In addition, GDS IDC Services' subsidiary Digitalland Services was approved to invest 28 billion baht to establish an ultra-large-scale data center in Chonburi Province. (Jiemian)
Buffett Continuously Increases Holdings in Sirius XM, Berkshire's Shareholding Ratio Rises to 33%
Berkshire Hathaway, owned by Buffett, continues to increase its holdings in satellite radio company Sirius XM. According to a regulatory filing, Berkshire increased its holdings of Sirius XM's stocks worth $60.7 million within three days as of Thursday, and now holds 33.2% of the outstanding shares. Sirius XM also owns the music streaming platform Pandora. (Zhitong Finance)
"Guanglun Intelligence" Completes Pre-A+ Round Financing of Tens of Millions
36Kr learned that according to Matrix Partners China, "Guanglun Intelligence" recently completed a Pre-A+ round financing of tens of millions of RMB, and Matrix Partners China oversubscribed. This round of financing will be used for R & D and upgrade of end-to-end technical routes in autonomous driving and embodied intelligence, further commercial expansion and acceleration of global business expansion.
Siemens: After Acquiring Altair, More Software Field Acquisitions Will Be Made
Cedrik Neike, a member of the Siemens Board of Directors, said that after spending $10.6 billion to acquire the American industrial software company Altair, Siemens has sufficient funds for further software acquisitions. "This is definitely not our last acquisition in the software field," Neike said on Friday. "We have sufficient funds for more transactions, and the software business is an important driver of growth and profitability." (Sina Finance)
New Products:
Cerence announced that it has deepened its cooperation with Renault to introduce generative AI-driven functions and human-like interactions into Renault's next-generation multimodal virtual in-car companion Reno. Renault's intelligent voice assistant Reno made its debut in the Renault 5 E-Tech pure electric version in September 2024 and is planned to be applied in the Renault 4 E-Tech electric vehicle in 2025. (Jiemian)
Tailan New Energy and Changan Automobile to Soon Release New Solid-State Battery Technology
36Kr learned that Tailan New Energy announced that it will jointly release new solid-state battery technology with Changan Automobile on November 7. According to Tailan New Energy's official disclosure, this press conference will focus on the latest breakthroughs in solid-state battery technology, and the cooperation with Changan Automobile will accelerate the industrialization process of this technology. In April this year, Tailan successfully developed the world's first 720 Wh/kg ultra-high energy density all-solid-state lithium metal battery.
Today's Views:
Deputy Governor of the Bank of England: The Use of AI by Banks May Be Included in Stress Tests
It is reported that Sarah Breeden, Deputy Governor of the Bank of England, said on October 31 that the use of generative artificial intelligence by lenders is expanding rapidly, which brings new risks to the financial system. Therefore, it can be included in the annual stress test to check the risk resistance of the financial industry. Breeden said: "The power and use of AI is growing rapidly, and we must not take it lightly." She said that although the Bank of England is concerned about this, it is not ready to change the regulatory approach to generative AI. (Jiemian)
In response to the recent rumors about layoffs in China, FrieslandCampina China said that the business in China is developing steadily, the financial situation is good, and there is no layoff plan currently. Moreover, it will increase talent training and team building. (Beijing Business Today)
Other News Worth Noting:
36Kr learned that the Shanghai Stock Exchange has released the "Ten Measures of the Shanghai Stock Exchange to Further Deepen the Work of 'Conducting Audits, Supervision, and Services Openly'". Among them, it is proposed to give more prominence to the "openness" of the stock audit link. Improve the efficiency and convenience of consultation and communication for projects under review. On the basis of on-site communication, the sponsor can conduct real-time information communication with the audit staff through the issuance and listing review system. Unblock the direct communication channel with securities service institutions such as accounting firms, open the authority of the issuance and listing review system, and conduct direct business consultation and communication before project declaration and during the review process. Further improve the quality and efficiency of communication and consultation, and strengthen active reminders of major issues, active feedback on important nodes, and active responses to key issues in the audit link.
On the morning of November 1, Shenzhen held the 6th "Shenzhen Entrepreneurs Day" Optimization of the Business Environment Policy Promotion Conference. Zhu Jiang, Deputy Director of the Shenzhen Municipal Financial Commission Office, said at the conference that the "Three Special Actions" will be carried out from key links such as early investment, cultivation for listing, and mergers and acquisitions, to build a more complete and effective enterprise listing cultivation mechanism. Next, Shenzhen will expedite the introduction of special policies for industrial mergers and acquisitions, build a reserve resource pool for mergers and acquisitions, enrich financing channels for listed companies' mergers and acquisitions, make good use of the simple review procedures for high-quality large-market-cap companies, and promote the formation of a new industrial economic development pattern with the "20 + 8" strategic emerging industries as the main body, with subdivided leading enterprises as the characteristics, and the linkage of domestic and foreign market mergers and acquisitions. (Shanghai Securities News)