36Kr Evening News: Vanguard International Semiconductor is seeking a NT$60 billion bank loan for the construction of a factory in Singapore; Central Bank: At the end of October, the balance of M2 was 309.71 trillion yuan, an increase of 7.5% year-on-year.
Big Companies:
On November 10, the Indonesian tech company GoTo issued a statement saying that it has signed agreements with Tencent Cloud and Alibaba Cloud, which will promote the development of cloud infrastructure and digital talents in Indonesia. According to the statement, Tencent Cloud commits to investing approximately $500 million in Indonesia by 2030, involving infrastructure, resources, and new investments. In addition, to further strengthen Indonesia's cloud infrastructure, Tencent Cloud is establishing its third Internet Data Center in the country. The statement said that Alibaba Cloud currently has three data centers in Indonesia and is collaborating with local institutions to provide training for nearly 400,000 cloud computing and artificial intelligence talents. Alibaba Cloud plans to double this number to 800,000 by 2033 and will establish a skills center at Indonesian universities to provide professional training. (Jiemian)
36Kr learned that Bohai Chemical announced that in accordance with the requirements of the production process and production facilities of chemical enterprises, to ensure the safe and effective operation of the production facilities, in accordance with the annual plan, the PDH unit (600,000 tons/year) of the company's wholly-owned subsidiary Tianjin Bohai Petrochemical Co., Ltd. began to undergo maintenance and shutdown on November 9, 2024, and it is expected to take about 65 days for the maintenance.
36Kr learned that GEM announced that on November 10, 2024, the company and PT Vale Indonesia Tbk jointly signed a project investment cooperation framework agreement under the witness of the President of Indonesia. The two sides will build a nickel resource high-pressure acid leaching green smelter and its supporting infrastructure in Central Sulawesi, Indonesia, to process part of the nickel ore from a mining area of PTVI into a mixed hydroxide precipitate product (MHP) containing nickel and cobalt that meets market standard specifications. The target production capacity is 66,000 tons of nickel content in MHP per year, and the positive consideration is to develop a cathode and precursor plant (downstream plant).
COSMAX: Revenue in the Third Quarter Increased by 15.6% Year-on-Year
The cosmetics design and OEM (ODM) enterprise COSMAX released its third-quarter financial report on November 11, showing that the consolidated operating income reached 529.8 billion Korean won (approximately RMB 2.7 billion), an increase of 15.6% year-on-year; the operating profit was 43.4 billion Korean won, an increase of 30.4% year-on-year. The cumulative operating income in the first three quarters of this year reached 1.6081 trillion Korean won, setting a new historical high for the company's cosmetics business. (Cailian Press)
Investment and Financing:
VIS Seeks NT$60 Billion Bank Loan for Singapore Factory Construction
It is reported that the wafer foundry VIS will build a 12-inch wafer fab in Singapore. It is revealed that VIS has sought to raise a large syndicated loan of NT$60 billion (US$1.9 billion) from the financial industry. It is expected that the signing could be completed as soon as the first quarter of next year. Regarding the syndicated loan structure, financial industry insiders pointed out that the total investment amount for the construction of this 12-inch wafer fab is US$7.8 billion, of which the first-phase funds are approximately US$4 billion. VIS and the joint venture partner NXP will inject US$2.4 billion and US$1.6 billion respectively, and it is expected to start mass production in 2027. (Jiemian)
BMW Will Invest 65 Billion Korean Won to Expand the Parts Logistics Center in South Korea
BMW Group Korea said that it will invest 65 billion Korean won (approximately RMB 340 million) in the Ansung Regional Distribution Center (RDC) by 2027 to expand the total area of the park to 1.5 times the current size. BMW Korea has already invested 130 billion Korean won to build the Ansung Regional Distribution Center in 2017. If the newly announced investment plan is included, the company's cumulative investment in this logistics center will reach 195 billion Korean won. (Cailian Press)
INPOWER: Signs a Strategic Cooperation Agreement with EHang Intelligent
36Kr learned that INPOWER announced that the company has signed a "Strategic Cooperation Agreement" with EHang Intelligent Equipment (Guangzhou) Co., Ltd. The two sides will jointly commit to the development of the research and industrialization of the power system of the eVTOL product in the low-altitude economic field of Urban Air Mobility. According to the agreement, INPOWER will be responsible for providing EHang Intelligent with motor products that meet its technical specifications. EHang Intelligent is responsible for the entire machine installation and sales of the product to the electric vertical take-off and landing aircraft. Both sides will give each other sufficient business and technical support to achieve resource sharing. The validity period of this agreement is three years.
36Kr learned that TGOOD announced that its holding subsidiary, TELD New Energy Co., Ltd. (referred to as "TELD"), has signed a "Sales and Service Contract for Charging Stations" with Beijing Yianqi New Energy Technology Co., Ltd. The total contract amount is approximately 528 million yuan (excluding tax). The contract subject is the charging station built and operated by TELD in accordance with BMW's requirements, including charging piles, charging guns, cables, LCD screens, charging power cabinets, charging modules, photovoltaic and lithium battery energy storage systems and other supporting facilities, as well as their maintenance and service rights, and the lease right of the site where the charging station is located. The station equipment and construction costs in the transaction consideration will be settled within 5 years, and the site rent cost will be settled according to the actual rental time within the settlement period.
New Products:
Amazon Is Reportedly Developing Smart Glasses for Drivers to Shorten Delivery Time
It is reported that several informed sources said that Amazon is developing smart glasses for its delivery drivers to provide turn-by-turn navigation suggestions along the way and at each stop, aiming to shorten the delivery time. An Amazon spokesperson said in a statement: "We are constantly innovating to create a safer and better delivery experience for drivers. Beyond that, we will not comment on the product roadmap." (Jiemian)
36Kr learned that at the 7th China International Import Expo, dozens of Fortune 500 original research pharmaceutical companies showcased more than 400 new products in China for the first time. Among them, CynoGen launched the breakthrough anti-aging intervention new product Rituoling Pro, jointly developed with medical institutions such as Harvard Medical School and Mayo Clinic, for the first time in China, and announced the latest research progress of the largest-scale anti-aging intervention trial. According to the official introduction, CynoGen's anti-aging candidate drug SRN-901 extends the remaining lifespan of middle-aged mammals (approximately 50 years old in humans) by 1/3 in preclinical trials, and reduces the incidence of age-related tumors by 40%.
Today's Views:
36Kr learned that Pan Gongsheng, the governor of the Central Bank, made a report on the financial work situation on behalf of the State Council. Pan Gongsheng said that the next steps in the work considerations are to comprehensively strengthen financial regulation and effectively improve regulatory effectiveness. Strictly implement market access and off-site supervision of financial institutions. Do a good job in the whole-chain supervision of the issuance and listing and refinancing review, and fulfill the responsibility of intermediary agencies as "gatekeepers". Strengthen the collaboration between central and local financial regulation, crack down on illegal and irregular financial activities, and implement "double penalties" for institutions and personnel in accordance with the law. Strengthen the protection of financial consumers and investors' rights and interests. Complete the drafting of financial laws, and cooperate with the Standing Committee of the National People's Congress to promote the follow-up deliberation of the Financial Stability Law and the Anti-Money Laundering Law. Promote the acceleration of the formulation and revision of laws and regulations such as the Law of the People's Bank of China, the Commercial Bank Law, the Securities Investment Fund Law, and the Regulations on the Management of State-Owned Financial Capital.
Airbus Predicts That China Will Need More Than 9,500 New Aircraft by 2043
36Kr learned that Airbus predicts that in the next 20 years, China will need more than 9,500 (9,520) new passenger and cargo aircraft, accounting for more than 20% of the global total demand during the same period. The global demand for new aircraft in the next 20 years will be 42,430. Airbus predicts that the new aircraft delivered to China will include 7,950 single-aisle aircraft represented by the A220 and A320 series, and 1,570 wide-body aircraft represented by the A330neo and A350 aircraft (including 190 new cargo aircraft). Nearly 75% of the aircraft will be used to support the fleet expansion, and 25% will replace the existing aircraft.
Other News Worth Noting:
36Kr learned that according to the data of the Central Bank, at the end of October, the balance of broad money (M2) was 309.71 trillion yuan, with a year-on-year growth of 7.5%. The balance of narrow money (M1) was 63.34 trillion yuan, with a year-on-year decrease of 6.1%. The balance of currency in circulation (M0) was 12.24 trillion yuan, with a year-on-year growth of 12.8%. In the first ten months, a net cash injection of 900.3 billion yuan was made.
36Kr learned that the General Office of the Tianjin Municipal People's Government issued the "Implementation Plan for Promoting the High-Quality Development of Cross-Border E-Commerce in Tianjin", proposing that by the end of 2027, the annual transaction volume of cross-border e-commerce will account for 10% of the city's total foreign trade import and export volume, striving to exceed 100 billion yuan. Build more than 6 cross-border e-commerce characteristic industrial belts and more than 8 municipal cross-border e-commerce industrial parks. The number of cross-border e-commerce business entities will exceed 5,500, and a group of cross-border e-commerce professional sellers and service providers will be attracted and cultivated. Cultivate more than 50 cross-border e-commerce export brands with a certain international influence.
36Kr learned that China Life announced that from January 1, 2024 to October 31, 2024, the cumulative original insurance premium income was approximately 626.9 billion yuan, with a year-on-year growth of 4.9%.