8:01 AM, 36Kr | Unboxing Huawei Mate 70 ahead of schedule will result in a fine starting from 500,000 yuan; Maserati's sales in September dropped by 87% year-on-year; Bestore responds to rumors of fake product ingredient lists.

Listing in Progress

Wanbang Energy

36Kr learned that recently, Wanbang Digital Energy Co., Ltd. (referred to as "Wanbang Energy") has filed for listing counseling in the Jiangsu Securities Regulatory Bureau, planning to be listed on the A-share market, and the tutoring institution is Guotai Junan.

TOP3 Big News

Huawei Mate 70 Unsealing Ahead of Schedule Will Incur a Fine Starting from 500,000 Yuan

According to domestic media reports, Huawei is expected to announce the release date of the Mate 70 as soon as this week, and it is estimated to be in mid-November. As the release of the Mate 70 approaches, a lot of related materials have appeared online. For example, some netizens have posted pictures showing that the Mate 70 has arrived at offline dealers. "Before the Mate 70 launch event, it is prohibited to open without authorization, and a fine of at least 500,000 yuan will be imposed for unsealing in advance." An informed source said that Huawei will strictly keep the new mobile phone confidential before the launch event. Even if the box containing the new mobile phone has arrived at the store, there will be a seal and a warning on the box. It is reported that the warning will read, "Before the launch event, it is prohibited to open without authorization, and a fine of at least 500,000 yuan will be imposed for unsealing in advance! The specific opening time shall be subject to the official notice of Huawei." Summarizing the current situation, the offline materials for the Huawei Mate 70 series have begun to be prepared, and the schedule is in mid-November. The models are Mate 70 / Mate 70 Pro / Mate 70 Pro + / Mate 70 UD. (Fast Technology)

Maserati's September sales dropped by 87% year-on-year, and some dealers have lowered the price to 500,000 yuan

According to Sina Technology, from the September data, Maserati has become the super luxury brand with the worst decline - According to the data from the China Passenger Car Association, Maserati's imported sales in the Chinese market in September were only 38 vehicles, a year-on-year drop of 87%; the imported sales from January to September this year were only 878 vehicles, a year-on-year decline of 79%. It is worth noting that the price of Maserati is no longer high. Taking the Grecale as an example, some dealers have lowered the starting price to 500,800 yuan.

According to the data released by the China Passenger Car Association, from January to September 2024, Maserati's imported sales in the Chinese market were 214 vehicles, 89 vehicles, 129 vehicles, 140 vehicles, 109 vehicles, 96 vehicles, 32 vehicles, 31 vehicles, and 38 vehicles, totaling 878 vehicles, a year-on-year decline of 79%; among them, the sales in September dropped by 87% year-on-year, the highest decline among many super luxury brands. (Sina Technology)

Bestseller Food Co., Ltd. was exposed that there is no "noodles" in its hot and sour noodles. The official response: All indicators of the product are qualified

On November 3, the anti-counterfeiting online celebrities "Brother Song Against Counterfeits" and "Bounty Hunter Ashes" jointly exposed several products of Bestseller Food Co., Ltd., pointing out that the ingredient list of Bestseller Food Co., Ltd. products is fake, and the lotus root starch is doped with tapioca starch; no "noodles" were detected in the hot and sour noodles. It is worth mentioning that "Bounty Hunter Ashes" in the video also recently participated in exposing the sweet potato vermicelli of Northeast Yu Jie.

The video released by the anti-counterfeiting bloggers also shows that during the communication with Bestseller Food Co., Ltd., the team members were choked by the security guards and their shooting equipment was snatched. Currently, the comments of the "Bestseller Food Co., Ltd." live stream and video works have been closed, and the lotus root starch and hot and sour noodles that were exposed as counterfeit have been removed from the shelves. According to the third-party data platform, the sales of the Bestseller Food Co., Ltd. brand on Douyin in the past 30 days reached 26 million yuan, the sales of the lotus root starch exposed as counterfeit in 30 days exceeded 4 million yuan, and the sales of the hot and sour noodles in 30 days were nearly 1 million yuan.

On the afternoon of November 4, Bestseller Food Co., Ltd. responded that after a preliminary investigation, all indicators of the relevant products were qualified in multiple batches of submissions for inspection by the company and the manufacturer this year. Currently, the local regulatory department has sampled and launched an investigation into the relevant products of Bestseller Food Co., Ltd. Bestseller Food Co., Ltd. stated that the company attaches great importance to food safety issues, respects and protects the rights and interests of consumers, and will also safeguard the company's legitimate rights and interests in accordance with the law. Thank you for your attention and supervision of the company. (Blue Whale News)

Big Companies / Major Events

Oriental Pioneering: The company plans to invest 100 million yuan in Hua Fu Securities

36Kr learned that Oriental Pioneering announced that the 22nd meeting of the 9th Board of Directors reviewed and approved the "Proposal on the Company's Plan to Invest 100 Million Yuan in Hua Fu Securities". The company plans to publicly acquire the capital increase project of Hua Fu Securities Co., Ltd. through the Shanghai United Assets and Equity Exchange, with an investment amount of no more than 100 million yuan, accounting for 1.37% of the company's most recent audited net assets.

China Everbright Bank: It is expected that the net interest margin level will stabilize after a decline next year, and the asset quality will remain stable

China Everbright Bank held the 2024 third-quarter performance briefing. China Everbright Bank stated that in the next stage, it will further improve the risk management system and strengthen asset quality management. It is expected that the asset quality will remain stable in the future. China Everbright Bank expects that, in general, the net interest margin level will stabilize after a decline next year to maintain the sustainability of supporting the real economy. As of the end of September, the net interest margin of China Everbright Bank was 1.55%, an increase of 1 BP compared with the first half of the year. (The Paper)

The First Venture Capital Fund for College Students in China Established

Recently, the first venture capital fund for college students in China has been established in Hunan, with a scale of 505 million yuan. It will support at least 100 projects every year. The first project selection of the fund is from November 1st to November 13th. Students who are currently enrolled in colleges and those who have graduated within three years can apply. Projects that pass the selection will receive a maximum of 1 million yuan in equity investment funds from the college students' fund. (China National Radio)

The number of IoT connections in China is expected to exceed 3 billion

At the 2024 World Internet of Things Conference held on the 3rd, the world's first "Worldwide Intelligent Connected Digital Economy White Paper" was released. Data shows that the number of IoT connections in China is expected to exceed 3 billion this year. The Internet of Things is an infrastructure that uses perception technology and network communication technology as the main means to achieve ubiquitous connections among people, machines, and things, and provides services such as information perception, information transmission, and information processing. Data shows that as of the end of July 2024, the total number of mobile communication base stations in the country reached 11.93 million, forming a differentiated access capability to meet the application needs of different industries. As of the end of August 2024, the number of IoT terminal users reached 2.565 billion. (CCTV News)

The cost of each box of "fake Semaglutide" made by the foundry is less than 20 yuan

The Semaglutide approved in China is from Novo Nordisk in Denmark and is used to treat diabetes. There are two types: injection (Ozempic) and oral medication (Rybelsus). The oral medication was approved in January this year and is the first and only oral GLP-1 drug approved for marketing in China, which requires a prescription to purchase. However, on e-commerce platforms, "oral Semaglutide", "GLP-1 active capsules", "Semaglutide slimming drink" and other "counterfeit Semaglutides" emerge in an endless stream.

Journalists' investigation found that, in fact, most of these "oral Semaglutides" do not contain Semaglutide. On the Internet, it costs less than 20 yuan to make a similar "counterfeit Semaglutide" through a "foundry", and a complete industrial chain has been formed. Moreover, there are even lawbreakers who sell Semaglutide raw materials on the Internet and produce and sell unapproved Semaglutide injections. (The Beijing News)

The actual sales revenue of the Chinese game IP market in the first three quarters is 196 billion yuan, and the proportion of PC game IPs is expanding

At the 2024 Annual Game IP Ecology Conference held on November 4, the "2023 China Game Industry IP Development Report" was released. The report shows that from January to September 2024, the actual sales revenue of the Chinese game IP market reached 196 billion yuan, and the annual revenue is expected to exceed the level of last year (245.92 billion yuan in 2023). In terms of the distribution of IP source types (based on revenue), from January to September 2024, the proportion of client-side game IPs is 62.3%, which has increased by 9 percentage points compared to the same period last year, and the proportion of mobile game IPs is 24.3%. (Caixin News Agency)

China Passenger Car Association: In October, the wholesale sales of new energy passenger vehicle manufacturers in the country were 1.4 million units, with a year-on-year growth of 58%

36Kr learned that according to the data of the China Passenger Car Association, based on a comprehensive estimate of the preliminary monthly data, the wholesale sales of new energy passenger vehicle manufacturers in the country in October were 1.4 million units, with a year-on-year growth of 58% and a month-on-month growth of 14%. Judging from the corresponding prediction of domestic retail, the penetration rate of new energy in October continued to exceed 50%. Tesla China delivered 68,280 vehicles in October.

Seres: There is no plan to hold conferences such as the "Humanoid Robot Technology Forum"

36Kr learned that Seres announced that the company has noticed the relevant information circulating on the Internet recently about "Seres will carry out the humanoid robot business". Seres has no plan to hold conferences such as the "Humanoid Robot Technology Forum", and the relevant screenshot information circulating on the Internet is also untrue. Seres has not carried out any cooperation related to humanoid robots in conjunction with any partners. As a technology-oriented automotive enterprise, the company will continue to focus on the main track of new energy intelligent electric vehicles, while paying attention to the exploration and research and development of cutting-edge technologies in related fields.

He Xiaopeng Talks About the Most Challenging Road for Intelligent Driving in Beijing: Hellish Difficulty, XPeng Aggressive but Safe

The chairman of XPeng Motors, He Xiaopeng, posted that he went for a drive in the XPeng P7 with Zhou Hongyi. "Lao Zhou chose a very difficult road section in Beijing - Dashanzi." He Xiaopeng said, "We needed to turn right, but there was a chaotic situation with motor vehicles, electric motorcycles, and pedestrians going forward without giving way at all. There were also police officers in the middle of the road checking electric motorcycles. This kind of hellish difficulty intersection is usually very difficult for me to pass through, and everyone was sweating. But Xiao P still succeeded in the game, being aggressive but safe." (Sina Technology)

The Ministry of Commerce: To safeguard the interests of the development of the electric vehicle industry and global green transformation cooperation, China decides to file a lawsuit against the EU's final anti-subsidy ruling measures

36Kr has learned that, according to the Ministry of Commerce, the spokesperson of the Ministry of Commerce answered reporters' questions about China's lawsuit against the EU's final anti-subsidy ruling measures for electric vehicles at the World Trade Organization. Previously, China has already filed a lawsuit against the EU's initial anti-subsidy ruling measures for electric vehicles at the World Trade Organization. We regret to see that despite a large number of objections from relevant parties including the governments, industries, and the public of EU member states, the EU still issued the relevant final ruling measures, imposing high anti-subsidy duties on Chinese electric vehicles. China firmly opposes this. To safeguard the interests of the development of the electric vehicle industry and global green transformation cooperation, China decides to file a lawsuit against the EU's final anti-subsidy ruling measures.

Institution: In Q3 2024, China's smartphone shipments increased by 3% year-on-year

36Kr has learned that the latest report from Techinsights shows that in the third quarter of 2024, China continues to maintain its position as the world's largest single smartphone market. The smartphone shipments increased by 3% year-on-year to 65.7 million units, maintaining a recovery trend for three consecutive quarters. From the perspective of manufacturers, vivo continues to lead the Chinese smartphone market with a 19% market share. OPPO/OnePlus and Xiaomi follow closely behind, each with a 15.5% share. Honor, Huawei, and Apple follow with shares of 15.2%, 15.1%, and 15.1% respectively.

Huawei Has Successfully Registered Trademarks Related to MATE 70

36Kr learned that on November 4, Yu Chengdong, the Executive Director of Huawei, the Chairman of the Terminal BG, and the Chairman of the Intelligent Automotive Solution BU, announced on social media that the Huawei Mate 70 series will be officially unveiled in November, and this might be the most powerful Mate in history. The Aiqicha App shows that Huawei Technologies Co., Ltd. applied to register one trademark of "HUAWEI MATE 70 GTS" and one trademark of "HUAWEI MATE 70 RS" in December 2022, and the international classifications of both are scientific instruments. These trademarks were successfully registered in July 2023.

The wholesale price of Moutai per bottle increased by more than 100 yuan on the weekend, and the dealers denied the rumor of stopping supply, claiming it was a market inspection

Last weekend, there were significant fluctuations in the wholesale price of Moutai in the market. The price of the 2024 original case stopped falling, and it increased by more than 100 yuan per bottle in two days. There were rumors in the market that the Moutai Dealers Association required dealers to stop shipping to the market for three months. On November 4, a Moutai dealer confirmed to the reporter that it was not a stop in supply but a market order inspection. The dealers' suspension of shipments led to the price increase. The official of Moutai responded to investors that the stop in supply was a market rumor, and the official had not made a statement, suggesting that the official news should be the basis. (China Business News)

The EU will make a ruling on Novo Nordisk's acquisition of Catalent by December 6

According to a document released by the European Commission's website on Monday, the EU antitrust regulator will decide whether to approve Novo Nordisk's acquisition of the US contract drugmaker Catalent by December 6. The document shows that the controlling shareholder of Novo Nordisk submitted a request to the EU to approve the transaction on October 31. The EU antitrust regulator can approve the transaction with or without remedies, or it can launch a four-month comprehensive investigation in case of serious concerns. (Caixin)

It is reported that Hon Hai's subsidiary ShunSin Technology plans to invest 80 million US dollars to build a factory in Vietnam

The parent company of Foxconn, Hon Hai Precision Industry Group, plans to invest 80 million US dollars through its subsidiary ShunSin Technology to expand its business in Vietnam. According to a document from the Ministry of Environment of Vietnam, ShunSin Technology plans to establish a factory in Bac Giang Province that focuses on the production of integrated circuits. The factory is expected to start full operation in December 2026, with the goal of producing 4.5 million integrated circuits annually. (Sina Finance)

Toyota plans to increase investment in electric and hybrid vehicle batteries in the United States

It is reported that Toyota announced on November 3 that it will make additional investments in the future to increase the production of electric and hybrid vehicle batteries in North America. Toyota will consider investing, including establishing a new factory after the current factory being built in the southern United States, and plans to increase the production of electric and hybrid vehicles in North America by establishing a supply system for key components. (Jiemian News)

It is reported that the Federal Reserve is expected to cut interest rates by another 25 basis points.

It is reported that the Federal Reserve's monetary policy meeting from the 6th to the 7th may decide to cut interest rates again. It is expected that the target range of the federal funds rate will be lowered by another 25 basis points to around 4.6%. Some economists also expect that the Federal Reserve will cut interest rates by 25 basis points in December, and may continue to cut interest rates next year. The report said that given that the inflation level in the United States has declined, Federal Reserve officials believe that high interest rates are no longer necessary. On September 18 this year, the Federal Reserve announced that it would lower the target range of the federal funds rate by 50 basis points to between 4.75% and 5%. This is the first interest rate cut by the Federal Reserve since March 2020. (CCTV News)

After 70 years, the Tokyo Stock Exchange extends trading hours by 30 minutes

On November 5, it was reported that the Tokyo Stock Exchange has extended its trading hours by 30 minutes starting from that day. The closing time has been extended from 3:00 p.m. local time to 3:30 p.m. This is the first time the Tokyo Stock Exchange has extended its trading hours in 70 years since 1954. (CCTV News)

South Korea's Largest Opposition Party Agrees to Cancel Capital Gains Tax on Financial Investments

The leader of South Korea's largest opposition party, the Democratic Party of Korea, Lee Jae-myung, said at a meeting on November 4 that the party has agreed to the government and the ruling People Power Party's plan to cancel the capital gains tax on financial investments, adding that the South Korean stock market is suffering from "structural vulnerability". Under the current system, a 20% tax will be imposed on capital gains from stock investments of more than 50 million won (approximately $36,485), while a 25% tax will be imposed on profits of more than 300 million won. South Korea's KOSPI index rose nearly 1.5% on November 4. (Jiemian News)

Gurman: Apple May Launch Mac Studio/Pro with M4 Ultra Chip Next Year

On November 3 local time, Bloomberg Technology reporter Mark Gurman stated in the latest issue of the Power On newsletter that the next-generation Apple Mac Pro with the M4 Ultra chip may be launched in the second half of next year. The M4 Ultra chip may be equipped with up to a 32-core CPU and up to an 80-core GPU, which is twice the specification of the current M4 Max chip. Apple may plan to switch the Mac Studio to the M4 Ultra chip from March to June next year. (Jiemian News)

Nvidia surpasses Apple to once again become the company with the highest market value globally

Chained Finance News, November 4th. Nvidia rose by 1.4%, with a total market value of 3.37 trillion US dollars, surpassing Apple and once again becoming the company with the highest market value globally. Since the beginning of this year, Nvidia's stock price has accumulated a 180% increase. (Chained Finance News)

The Apollo Program Doubles the Number of Employees in the Private Wealth Division in the Asia-Pacific Region

It is reported that Apollo Global Management is seeking to increase the number of recruits in the Asia-Pacific region to increase assets from wealthy clients. Edward Moon, the head of global wealth in the Asia-Pacific region of Apollo, said that the plan is to double the number of employees in the private wealth management division in the Asia-Pacific region in the next two to three years. Moon said that the company will also continue to strengthen team building in Singapore and Hong Kong. (Jiemian News)

The Forefront of AI

Disney is forming a new technical team to specialize in the application of technologies such as AI and AR

Recently, Disney is establishing a new team to coordinate the company's use of emerging technologies such as artificial intelligence and mixed reality, and to explore the application of these technologies in the film, television, and theme park divisions. It is understood that this newly established Office of Technology Enablement will be led by Disney's Chief Technology Officer Jamie Voris. Voris has developed Disney applications for Apple's Vision Pro mixed reality device. And Voris' position as CTO will be taken over by Eddie Drake. (Cailian Press)

OpenAI suspends the release of GPT-5 due to computing power bottlenecks and seeks breakthroughs in cooperative chip development

OpenAI's CEO Sam Altman disclosed on Thursday that due to computing power limitations, the company cannot launch new products at the expected frequency. He explained that as AI models become increasingly complex, the company has difficulty handling numerous projects simultaneously, especially facing challenges in computing resource allocation. (Zhitong Finance)

Big Company Financial Reports

ByteDance's revenue increased by 35% to approximately $73 billion in the first half of the year, and its international revenue increased by more than 60% in the first half of the year.

It is reported that ByteDance's revenue increased by 35% to approximately $73 billion in the first half of the year, and its international revenue increased by more than 60% in the first half of the year. (Cailian Press)

Investment and Financing

Xinghaitu Completes Over 200 Million Yuan Pre-A Round Financing, with Huaxing as the Exclusive Financial Advisor

36Kr has learned that recently, the artificial intelligence company "Xinghaitu" has completed a Pre-A round financing of over 200 million yuan. This round of financing is led by Hillhouse Ventures (GL Ventures) and Ant Group, with co-investors including miHoYo, Wuxi Venture Capital Group, Tongge Venture Capital, Funplus, and existing shareholders. Huaxing Capital serves as the exclusive financial advisor. After the completion of this round of financing, Xinghaitu will continue to promote the research and development and implementation of the embodied ontology and core module, end-to-end AI algorithms, and scene solutions, while continuously expanding the overseas market.

"X Square Robots" Completes Hundred-Million-Level Financing

36Kr has learned that the embodied intelligence startup "X Square Robots" has continuously completed the Pre-A and Pre-A+ rounds of financing, with a total amount reaching the hundred-million-level. The investors include Delian Capital, Cornerstone Capital, QF Capital, Nanshan Zhanyi Xintou, and the old shareholder Jiuhe Ventures continues to increase its investment. Yiwei Capital serves as the exclusive financial advisor. It is understood that the financing will be used for the training and scenario implementation of the next-generation unified embodied intelligence large model.

"Zhongke Bosheng" Completes Multi-Million Yuan Pre-A Round Financing

36Kr has learned that recently, "Zhongke Bosheng", a Chinese high-end thermoelectric semiconductor technology innovation enterprise, announced the completion of a multi-million yuan Pre-A round of financing. This round of financing is led by CAS Star, with Jiangyin Talent Science and Technology Innovation Angel Fund, Sukong Venture Capital, and Oriza Holdings as co-investors. The funds raised will be used to expand production capacity, promote R & D, and strengthen team building, accelerating the company's technological breakthroughs and localization process in the high-end thermoelectric semiconductor field.

Cool Products

SK Hynix Exhibits 16-Layer HBM3E Chip

SK Hynix has showcased the world's first 48GB 16-layer HBM3E product. SK Hynix CEO Kwak Noh-Jung stated that the 16-layer HBM market is expected to emerge starting from HBM4, but SK Hynix has prematurely developed the 48GB 16-layer HBM3E and plans to provide samples to customers in early 2025. (Jiemian News)

It is reported that NIO will launch its first hybrid model in 2026 and it will only be sold overseas.

It is reported that two insiders revealed that NIO plans to launch its first hybrid vehicle in 2026 and it will only be sold in overseas markets including the Middle East, North Africa, and Europe. It is said that the model is planned to be launched at the end of 2026 and deliveries will begin in 2027. And it will not be sold in China. In China, NIO will continue to only offer electric vehicles that support battery swapping. NIO declined to comment on the hybrid vehicle plan. The company said that the Firefly brand will use pure electric technology, but did not provide further explanation. (Ifeng Technology)

SIRUI Optics Launches Its First Autofocus Full-Frame Lens

36Kr has learned that SIRUI Optics has launched its first autofocus full-frame lens - the Dawn Series 85mm F1.4 Portrait King. It is introduced that this lens weighs as light as 540g, with a 67mm aperture. It integrates advanced optical technologies, including aspherical lenses, ED lenses, and high refractive index lenses, balancing portability and versatility.

Organized by｜Cheng Jiahui