8:01 AM | Wuxi Hongqiao Hospital was fined 58.95 million yuan for insurance fraud.

TOP3 Big News

Wuxi Hongqiao Hospital Fined 58.95 Million for Insurance Fraud 

The Qichacha APP shows that recently, Wuxi Hongqiao Hospital Co., Ltd. was fined more than 58.95 million yuan by the Wuxi Medical Insurance Bureau, and its Medical Institution Practice License was revoked by the Wuxi Health Commission. The facts of the violation show that on September 27 this year, the Wuxi Health Commission received a referral letter for a suspected criminal case from the Wuxi Medical Insurance Bureau and transferred it to the Wuxi Public Security Bureau. The content is that Wuxi Hongqiao Hospital Co., Ltd. reused MRI, CT and other images to defraud the medical insurance fund. After investigation, the unit defrauded the medical insurance fund expenditure by forging medical documents. From January 1, 2022 to September 22, 2024, there were acts of false medical treatment, forgery and alteration of materials, and fictional medical service items.

According to media reports, not long ago, the National Medical Insurance Bureau informed the investigation situation of the hospital's insurance fraud. The inspection found that the hospital was suspected of illegally and irregularly using 22.284 million yuan of the medical insurance fund. Among them, by colluding with intermediaries or in the name of free physical examinations, it lured and induced insured persons to be hospitalized falsely. Through forging medical documents and fictional diagnosis and treatment services, it was suspected of defrauding the medical insurance fund of 11.792 million yuan (the final amount is subject to actual verification). (Da Wan News)

Trump Wins the 2024 US Presidential Election

According to a report by NBC on November 6, the US Republican presidential candidate and former President Trump announced in the early hours of November 6 that he had won the 2024 US Presidential Election. Trump delivered a victory speech to his supporters at the Palm Beach Convention Center in Florida. Trump said, "I want to thank the American people. I am honored to be elected as the 47th President and the 45th President." He thanked his family and stated that he would make America great again. Meanwhile, the Democratic presidential candidate and Vice President Harris canceled her plan to speak in Washington that night.

The 2024 US Presidential Election was held on November 5. As of the early hours of November 6 local time, several US media outlets calculated based on the vote-counting results that Trump had won several "swing states" including Pennsylvania, and the number of electoral votes he received was close to the 270-vote threshold required for victory. There are a total of 538 electoral votes in the US Presidential Election, and the ultimate winning candidate must ensure that the number of electoral votes obtained exceeds half. (People's Daily)  

India Officially Bids for the 2036 Olympics 

On November 5, sources revealed that the Indian Olympic Association (IOA) officially submitted an application to the International Olympic Committee in early October to host the 2036 Summer Olympics and Paralympics.

On November 6 local time, the President of the Indian Olympic Association, Usha, confirmed that the association had submitted the application in early October. Usha said that since last year, the Indian side has been in regular communication with the President of the International Olympic Committee, Thomas Bach, and other officials. Despite some challenges, she is "optimistic that India will be regarded by the International Olympic Committee as a friendly host." It is reported that the possible host city has not yet been determined, but Ahmedabad, a major business city in the western Indian state of Gujarat, is one of the main competing cities. The city currently has six new stadiums with a total capacity of more than 100,000. (Observer Network) 

Big Companies / Major Events

The First White Paper on Carbon Emission Reduction in the Shipping Industry Released

36Kr has learned that to address this challenge, the white paper "Riding the Waves: A Comprehensive Analysis of the EU ETS and FuelEU Strategies" edited by the Digital Finance Research Center of Central University of Finance and Economics, with the participation of Zhongcai Shu Tan (Beijing) Technology Co., Ltd. and Xiling Maritime Technology Co., Ltd. in Xiamen, has been officially released. The white paper points out that by 2035, the FuelEU fee will fully exceed the EU ETS carbon quota fee; by 2055, the FuelEU will reach three times the EU ETS carbon quota fee; by 2060, the FuelEU fee will be nearly 10 times the ETS carbon quota amount.

He Xiaopeng: Xiaopeng HT Aero Flying Car to Make Its Global Debut Flight in November and Pre-sales to Start in December

36Kr has learned that at the Xiaopeng AI Technology Day, He Xiaopeng, Chairman and CEO of Xiaopeng Motors, announced that the world's first mass-produced detachable flying car will make its global debut flight at the Airshow China in November and officially start pre-sales in December.

Tencent Announces Partnership with Visa to Introduce Palm Scan Technology to the International Payment Market, with the First Stop in Singapore

36Kr has learned that at the site of the 9th Singapore FinTech Festival, Tencent's overseas plan for its palm scan technology was officially released, and it was announced that Tencent will partner with Visa to introduce the palm scan technology to the international payment market. The first stop will be in Singapore. In this cooperation, DBS Bank, Oversea-Chinese Banking Corporation (OCBC), and United Overseas Bank (UOB) in Singapore have joined in to support. Users participating in the pilot can use the palm scan technology to make payments at Alchemist Coffee in Singapore. The expansion plan for this project will be announced later.

Game Science's affiliated company registers multiple video copyrights of Black Myth: Wukong

36Kr learned that the Qichacha App shows that recently, Hangzhou Youke Interactive Technology Co., Ltd., an affiliate of Game Science, has registered the copyrights of multiple works, including "The Global Exclusive 8-Minute Gameplay Demo of Black Myth: Wukong" and "The Final Trailer of Black Myth: Wukong", etc. The works are categorized as those created by methods similar to filming movies. Information from Qichacha shows that the company was established in October 2018. Its legal representative, chairman, and manager is Feng Ji, with a registered capital of 20 million Chinese yuan. It is wholly owned by Shenzhen Youke Interactive Technology Co., Ltd.

Xiaomi is expected to launch auto insurance

The official website of the National Financial Regulatory Administration announced the approval document on November 5, agreeing to prepare for the establishment of Beijing BNP Paribas Tianxing Property Insurance Co., Ltd. (hereinafter referred to as "BNP Paribas Tianxing Property Insurance"). The approval document shows that there are three shareholders of BNP Paribas Tianxing Property Insurance: BNP Paribas Assurance, Sichuan Yinmi Technology Co., Ltd., and Volkswagen Financial Services AG. Among them, Sichuan Yinmi Technology Co., Ltd. is a member of the Xiaomi Group. In fact, Xiaomi's layout in the insurance field has shown signs earlier. In January 2016, Xiaomi acquired Beijing Hongyuan Insurance Brokerage Co., Ltd. through its Sichuan Yinmi Technology Company and renamed it Beijing Houji Insurance Brokerage Co., Ltd. Up to now, Yinmi Technology has invested in Beijing Houji Insurance Brokerage Company, Sichuan XWBank, etc. By investing in BNP Paribas Tianxing Property Insurance this time, the company has obtained three financial licenses for banks, insurance, and insurance brokerage. (ITHome)

The Solver of DAMO Academy Lands in the "Tian Shu No.1" Intelligent Brain of SPIC

36Kr has learned that the Comprehensive Intelligent Energy Co., Ltd. of SPIC Group has built the first optimization solver subsystem for industrial and commercial energy storage in China based on the "Tian Shu No.1" intelligent energy Internet of Things platform of SPIC and the optimization solver of Alibaba DAMO Academy. At the DAMO Academy Decision Intelligence Product Launch held in Beijing, the solver was officially named "MindOpt", and the 2.0 version was released to the public, adding support for two types of problems: Nonlinear Programming (NLP) and Mixed-Integer Quadratically Constrained Programming (MIQCP), covering the needs of more fields such as petroleum, chemical engineering, and biopharmaceuticals.

Meituan Bike's affiliated company adds robot R & D business

36Kr learned that according to Tianyancha App, recently, Beijing Mobike Technology Co., Ltd., the affiliated company of Meituan Bike, has undergone industrial and commercial changes. Its business scope has added the R & D of intelligent robots, the R & D of Internet of Things technology, and the basic software development of artificial intelligence. The company was established in January 2015, with Sun Keqing as the legal representative, a registered capital of 5 million Chinese yuan, and is jointly held by Wang Xing and Mu Rongjun.

NDRC: From 24:00 on November 6, 2024, the prices of gasoline and diesel in China will be reduced by 145 yuan and 140 yuan per ton respectively.

36Kr learned that according to the information on the official website of the National Development and Reform Commission, in accordance with the recent changes in international market oil prices and the current mechanism for forming the prices of refined oil products, from 24:00 on November 6, 2024, the prices of gasoline and diesel in China (standard products, the same below) will be reduced by 145 yuan and 140 yuan per ton respectively.

Will the mortgage interest rate in Guangzhou be adjusted? Industry insiders: Banks make market-oriented decisions based on the market environment, operational stability, and other aspects

Recently, some media reported that on November 7, the major commercial banks in the Guangzhou area will uniformly adjust the mortgage interest rate. After the adjustment, the newly issued first-home mortgage interest rate will not be lower than 3%. Some industry insiders pointed out that the recent occurrence of a very small number of mortgage interest rates lower than 3% is mainly due to the irrational competition of a few individual banks. Some self-media deliberately exaggerate to attract attention and traffic, which misleads consumers. A mortgage interest rate that is continuously lower than 3% not only easily causes banks to fall into irrational competition but is also unsustainable for bank operations. The reporter learned that after comprehensively considering costs such as funds, risks, operations, capital, and taxes, for the mortgage business of most banks, an interest rate of 3.2% is the break-even point. (21 Finance and Economics)

Nissan's sales in China in October were 61,170 units

On November 6, Nissan Motor Company announced its performance in China for October 2024. Nissan's sales in China, including both passenger cars and light commercial vehicles, were 61,170 units in October (including Infiniti imported vehicles). In October 2024, Dongfeng Nissan (including Nissan, Venucia and Infiniti brands) sold 57,323 units. The sales of the light commercial vehicle business segment (Zhengzhou Nissan) were 3,847 units. From January to October 2024, Nissan's cumulative sales in China, including both passenger cars and light commercial vehicles, were 558,168 units. (Jiemian News)

Nintendo's First-Half Fiscal Year Performance Is Weak, Downgrading Switch Sales Forecast

It is reported that Nintendo has lowered its expectations for the annual Switch sales and annual revenue. The company said that in the six months ending September 30, its net profit decreased by 60% year-on-year to 108.66 billion yen (approximately $714.2 million), which is lower than expected. The company expects that in the fiscal year ending March 2025, the sales of Switch game consoles will reach 12.5 million units, which is lower than the previous forecast of 13.5 million units; the software sales will reach 160 million copies, which is lower than the previous forecast of 165 million copies. (Jiemian News)

China Releases National Ecological Protection and Restoration Bulletin for the First Time

The 2024 National Ecological Protection and Restoration Bulletin has been officially released. This is the first time that China has comprehensively reflected the national ecological protection and restoration work in the form of a bulletin. The bulletin comprehensively presents the basic national conditions of the land and sea integrated natural ecology since the founding of New China 75 years ago, announces the major ecological restoration actions implemented with "real money and silver", and declares that the "blueprint" for national ecological protection and restoration from the mountain top to the ocean, from the plateau to the plain, and from the country to the local level has basically taken shape in China. (Xinhua News Agency)

Mihoyo Reduces Procurement Budget for Cloud Computing and Strengthens Self-built Cloud Services

It is reported that Mihoyo is significantly reducing its cloud usage, and most of the cutback is in database usage. Mihoyo is one of the largest customers of a certain cloud giant's database products. It is understood that due to the competitive relationship between Mihoyo and Tencent in the gaming field, Mihoyo has given a large number of cloud service orders to a certain cloud computing company. However, relevant business personnel revealed that the adjusted procurement amount is not as exaggerated as the "halved" in the reports, and the two sides have already communicated before. The main reasons are cost reduction and efficiency improvement, as well as Mihoyo's strategic need to build some cloud service businesses by itself. Up to the time of publication, Mihoyo has not officially responded to this matter. (Jiemian News)

Pangdonglai Issues Statement on Rights Protection

36Kr has learned that Pangdonglai released a statement on November 6, stating that recently, several accounts on third-party platforms have posted videos claiming that the shampoo, skin care, weight loss products and other goods purchased at Pangdonglai have excellent effects. After verification, the goods in these videos are not the products sold by the company. The above-mentioned videos are suspected of false propaganda in the name of "Pangdonglai", which has misled and confused consumers and seriously violated the legitimate rights and interests of consumers and the company. Currently, the company has reported the above-mentioned behaviors to the market supervision and administration department and the cyber information department. At the same time, the company reserves the right to pursue relevant responsibilities, and now solemnly warns the accounts with the above-mentioned behaviors to immediately stop the infringement.

Institution: It is estimated that the bit output of the overall DRAM industry will increase by 25% annually in 2025.

36Kr has learned that according to TrendForce, after the inventory depletion and price recovery in the first three quarters of 2024 in the DRAM industry, the price momentum weakened in the fourth quarter. Due to some suppliers' plans to expand new production capacity after making profits this year, it is estimated that the bit output of the overall DRAM industry will increase by 25% annually in 2025, with a larger growth rate than that in 2024.

UnionPay cards issued overseas fully support binding with WeChat Pay and Alipay

It is learned from UnionPay that UnionPay International, a wholly-owned subsidiary of China UnionPay, announced on November 6 that UnionPay cards issued overseas have fully supported binding with Alipay. Meanwhile, with the support of Industrial and Commercial Bank of China, WeChat Pay has also enabled the support for this service. That is to say, from November 6, foreigners coming to China can download the Alipay App or WeChat App, bind the UnionPay cards issued locally overseas, and enjoy the convenient experience brought by scanning code payment just like domestic users. It is understood that currently, more than 250 million UnionPay cards have been issued in 83 countries and regions overseas, and these cards can be used cross-border in 183 countries and regions. (CCTV News)

Baidu Vice President Chen Yifan Reportedly Rotated to MEG, Company Has No Response

According to media reports, Baidu Vice President Chen Yifan has recently been rotated from the Intelligent Cloud Business Group (ACG) to the Mobile Ecosystem Business Group (MEG) to be responsible for commercialization. When verifying this with Baidu, as of the time of publication, the company has not responded. (Sina Technology)

ICBC Free Trade Zone Headquarters Established in Shanghai

36Kr learned that according to the official WeChat account of Industrial and Commercial Bank of China (ICBC), on November 5, ICBC held the unveiling ceremony of the ICBC Free Trade Zone Headquarters in Shanghai and released the financial service plan of the ICBC Free Trade Zone Headquarters. According to the financial service plan of the ICBC Free Trade Zone Headquarters, ICBC will further integrate FT business resources, continuously upgrade cross-border investment and financing, settlement, cash management and other services, continuously enrich offshore RMB trading products and tools, actively participate in the business innovation of financial infrastructure, and help enhance the competitiveness and influence of the Shanghai International Financial Center.

FAW-Volkswagen and Volkswagen Group Sign Cooperation Memorandum at the CIIE

36Kr learned that, according to the official WeChat account of FAW-Volkswagen, on November 5, the 7th China International Import Expo (hereinafter referred to as the "CIIE") kicked off in Shanghai. During the conference, FAW-Volkswagen Co., Ltd. signed a cooperation memorandum with the Volkswagen Group for the import of complete vehicles and parts. In 2025, FAW-Volkswagen will import some parts and Audi complete vehicles from the Volkswagen Group.

China Eastern Airlines' CIIE Purchase Orders Exceed $2.8 Billion, Setting a New Record

On November 6, China Eastern Airlines signed multiple rounds of purchase orders at the China International Import Expo (CIIE), with a signing amount of over $2.5 billion. It is understood that during the CIIE, China Eastern Airlines will sign 19 purchase agreements with 18 enterprises from 10 countries and regions including France, the United Arab Emirates, Germany, Canada, the United States, Switzerland, Turkey, and Singapore. The total amount exceeds $2.8 billion, and the categories involve 8 types such as aircraft engines, flight simulators, aviation materials, communication services, and fresh food. The overall import signing amount, the signing amount of the signing ceremony, and the transaction amount of the one-year booth have all reached the highest levels in previous sessions. (Yicai Global)

Apple to Face the First Fine in the EU Related to the Digital Markets Act

According to Bloomberg, sources familiar with the matter said that Apple will be fined by the EU antitrust regulator. This penalty is imposed in accordance with the newly introduced Digital Markets Act in the EU, and Apple will become the first company to be sanctioned under this act. The fine may be issued within this month, but the timing could still change. Sources said that this penalty is due to Apple's failure to allow app developers to direct users to purchase cheaper products outside the App Store. The penalty may also be accompanied by regular fines until Apple complies with the Digital Markets Act. The decision is still being drafted. An Apple spokesperson did not immediately respond to a request for comment. (Jiemian News)

A survey shows that more than 90% of small and medium-sized enterprises in South Korea have not yet used artificial intelligence technology

A recent survey released by the Federation of Small and Medium Business of Korea shows that more than 90% of small and medium-sized enterprises in the country have not yet used artificial intelligence technology. According to the South Korean media, compared with large enterprises that have already introduced artificial intelligence technology, this highlights the "huge digital gap" in the South Korean business field. According to the Korea Business Telegraph on the 5th, the Federation of Small and Medium Business of Korea conducted a survey of 300 small and medium-sized enterprises on the use of artificial intelligence technology in the operation process between September and October, and found that 94.7% of the enterprises are not currently using artificial intelligence technology. (Xinhua News Agency) 

The Forefront of AI

Wang Huiwen Returns, Acting as Meituan AI "Team Leader"

36Kr exclusively learned from multiple independent sources that Wang Huiwen, the former co-founder of Meituan and the founder of Lightyear Beyond, has now returned to the front line and is leading a team at Meituan to explore AI applications. A person close to Meituan said that GN06 is directly managed by Wang Huiwen and does not belong to any business group. In addition, GN06 is relatively independent in Meituan, focusing on exploring directions beyond the main business, and is also independent from Meituan's existing large model team and AI teams in various business lines.

He Xiaopeng: Xiaopeng Turing AI Chip Has Enabled Intelligent Driving Functions

36Kr has learned that at the AI Technology Day, He Xiaopeng, the CEO of Xiaopeng Motors, introduced that the Xiaopeng Turing chip is specifically designed for AI. It has a 40-core processor, can locally run a large model with 30B parameters, and integrates 2 NPUs and a domain-specific architecture for neural networks. In October, Xiaopeng has enabled intelligent driving functions on the Turing chip. In addition, He Xiaopeng also mentioned some progress in L4 autonomous driving. In the future, the steering wheel may be eliminated, and users can hide or use it as needed. At the same time, Xiaopeng will develop the Ultra model for L4, with a vehicle computing power of 3000 Tops. The Ultra model will be developed globally to serve ROBOTAXI.

Big Company Financial Reports

Saudi Aramco's net profit in the third quarter was $27.6 billion, a year-on-year decrease of 15.3%.

On November 6, Saudi Aramco released its third-quarter results for 2024: The net profit was $27.6 billion, compared with $32.6 billion in the same period last year; the free cash flow was $22 billion, compared with $20.3 billion in the same period last year. In terms of the asset-liability ratio, as of September 30, 2024, it was 1.9%, and at the end of 2023, it was -6.3%. (Jiemian News)

Toyota's net profit in the first half of the fiscal year decreased by 26% year-on-year

Toyota's consolidated financial report (International Accounting Standards) for the period from April to September 2024 shows that the net profit is 1.9 trillion yen, a decrease of 26.4% compared with the same period of the previous year. Operating revenue increased by 5.9% year-on-year to 23.28 trillion yen. Operating profit decreased by 3.7% year-on-year to 2.46 trillion yen. (Jiemian News)

Honda's operating profit in the second quarter was 257.9 billion yen, lower than expected

Honda's operating profit in the second quarter was 257.90 billion yen, with an estimate of 431.09 billion yen; net profit was 100.02 billion yen, with an estimate of 297.31 billion yen; net sales were 5.39 trillion yen, with an estimate of 5.33 trillion yen. (Caixin)

Investment and Financing

"Wei Ai Intelligence" Completes Multi-Million Yuan Series A+ Financing

36Kr has learned that "Wei Ai Intelligence" has recently completed a multi-million yuan Series A+ financing round. This round is jointly led by Shenqi Capital and Oriental Fortune Capital, with Professor Gao Bingqiang, Rugao Science and Technology Innovation Investment, Virtu International, and individual investors participating. The funds from this round will be mainly used to promote the winding robot products, build a small-scale trial processing base, and expand overseas business. It is introduced that Wei Ai Intelligence focuses on industrial robots in the textile field. Combining AI vision systems, fluid mechanics, and embedded edge computing, it independently researches and develops the "Automatic Winding and Yarn Feeding Robot" to help enterprises reduce labor costs and alleviate the problem of labor shortage.

"Sankai Electromechanical" Completes Over 100 Million Yuan Series A Financing

36Kr has learned that "Sankai Electromechanical" recently announced the completion of over 100 million yuan in Series A financing, led by Dachen Chuangzhi, with Sanhua Hongdao and Zhegu Kunxin as co-investors. The funds from this round of financing will be used for R & D investment, expanding the production scale of precision planetary reducers, as well as the R & D and production of harmonic robot joint reducers and drivers. Sankai Electromechanical was established in 2007, specializing in the production of precision reducers, servo motors, servo drives and other products, providing products for the automated production line and automated equipment fields. It has collaborated with many well-known manufacturers at home and abroad.

"Qingwei Rufeng" Completes Pre-A Round Financing of Several Ten Million Yuan

36Kr has learned that recently, "Qingwei Rufeng" has completed its Pre-A round of financing. The amount of this round of financing reaches several ten million yuan, led by Yunshi Capital and followed by TusStar Ventures. This round of funds will be continuously used for team expansion, product research and development, and project operation. Qingwei Rufeng was established in 2022, focusing on the research and development of L4-level autonomous driving for airport logistics transportation and the digital brain platform, providing one-stop solutions for airports, airlines, and logistics companies. 

Cool Products

Tencent Cloud TI Platform Synchronously Opens Access to MoE Model "Hunyuan Large"

36Kr learned that on November 5, the latest open-source MoE model "Hunyuan Large" of Tencent Hunyuan was launched. At the same time, Tencent Cloud TI Platform announced the synchronous opening of access to provide one-stop fine-tuning, API invocation, and private deployment services for users and developers. Tencent Cloud TI Platform supports mainstream open-source large models such as Hunyuan Large, Llama 3, and Baichuan. The platform has a practical large model fine-tuning toolchain, provides flexible large model training data annotation capabilities and an open-source data construction Pipeline. It has built-in Angel training and inference acceleration capabilities, and supports one-click activation of Hunyuan Large fine-tuning.

Organized by | Cheng Jiahui