8:01 AM | Zijin Mining responds to the theft of 3 tons of gold; China Association for Science and Technology responds to the 16-year-old middle school student obtaining a senior professional title; Dongbei Yujie Enterprise applied for cancellation but then withdrew the application.
Going Public in Progress
Mengjinyuan Gold and Gems Group
36Kr learned that according to the documents of the Hong Kong Stock Exchange, Mengjinyuan Gold and Gems Group, a Chinese gold jewelry retailer, has passed the listing hearing of the Hong Kong Stock Exchange and uploaded the post-hearing information collection. CITIC Securities is the sole sponsor.
Top 3 Big News
Zijin Mining Responds to 3 Tons of Gold Being Stolen: Illegal Mining Does Exist, Quantity Is Difficult to Calculate but Has a Minor Impact on Performance
Some self-media quoted the Wall Street Journal as reporting that Zijin Mining's gold mine in Colombia was looted by a drug trafficking group, with 3.2 tons of gold worth 200 million US dollars (approximately 1.5 billion RMB) stolen. The relevant person in charge of Zijin Mining said that illegal mining does exist and it has existed before Zijin Mining entered the mine in 2020, and the company is not clear about the actual quantity of illegal mining. "The illegal miners entered by digging holes, and the actual quantity of illegal mining is difficult to calculate. We don't know where the '3 tons of gold' circulated online comes from. The previous government cracked down on illegal mining more vigorously, while the current administration's attitude towards illegal mining is more 'ambiguous'." Regarding the impact of illegal mining on the company's performance, the above-mentioned person in charge said that the output of the Colombian mine has continued to increase in the past two years, and the impact of illegal mining on the company's performance is relatively small. (Yicai)
The China Association for Science and Technology Responds to the 16-Year-Old Middle School Student Receiving a Senior Professional Title: This Student Has Nothing to Do with the China Association for Science and Technology
Recently, a resume has attracted the attention of the domestic scientific and technological community. The resume claims that a 16-year-old middle school student, He, has become the "Senior Head of the Youth Science and Technology Research Studio of the China Association for Science and Technology" and has become a "Member of the Astronautical Society of China, a Member of the Chinese Society of Bioengineering, and a Member of the Chinese Mechanical Engineering Society". On November 14, a staff member of the General Office of the China Association for Science and Technology pointed out in an interview with reporters that there is no so-called "Youth Science and Technology Research Studio" under the association, and the association has not evaluated a senior professional title for this studio. (The Paper)
Northeast Yu Jie's Enterprise Applied for Cancellation but Withdrew: The Affiliated MCN Cannot Be Found Anymore
Recently, Tianyancha App shows that the Benxi Manchu Autonomous County Zhenwang Modern Agricultural Development Professional Cooperative and the Benxi Manchu Autonomous County Yuanwo Modern Agricultural Development Professional Cooperative under the name of Northeast Yu Jie's husband have respectively added simple cancellation announcements. The announcement period is from November 13 to December 2 and from November 12 to December 1. Currently, the results of the above simple cancellation announcements are both revoked.
According to third-party data, since the sweet potato starch noodles incident occurred, Northeast Yu Jie's account has lost more than 2.7 million followers, and the account is still in a state of being muted and prohibited from being followed. Previously, the MCN logo displayed on her account was Integrity, but currently, this institution cannot be searched in the MCN database. (Blue Whale News)
Big Companies/Big Events
China Men's National Football Team Achieves 2 Consecutive Wins: About to Face Japan
At 22:00 on November 14, in the 5th round of Group C in the Asian Qualifiers for the World Cup 18-team stage, the Chinese Men's National Football Team played against the Bahrain Men's National Football Team away. With Zhang Yuning's goal in the stoppage time, the Chinese team won 1 - 0 against Bahrain, achieving two consecutive victories in the World Cup qualifiers. The Chinese team will play the 6th round of the 18-team stage on November 19, hosting the Japanese team at the Xiamen home stadium. (CCTV News)
Apple Faces $3.8 Billion Antitrust Charge Over iCloud Service
It is reported that the UK consumer protection organization Which? has filed a £3 billion lawsuit against Apple, as the company ties consumers to its iCloud storage service, violating competition rules. Which? claims that Apple abuses its dominant position by forcing users to register for iCloud to store data such as photos and messages, while not allowing them to use the services of other competing providers to back up data. The organization also alleges that Apple charges too much for the iCloud subscription service. (Jiemian News)
The reopening ceremony of Notre-Dame de Paris will be held on December 7.
According to French media reports on the 13th local time, the reopening ceremony of Notre-Dame de Paris will be held on December 7. From December 8 to 15, Notre-Dame de Paris will be open to tourists starting from 3:30 p.m. After December 15, Notre-Dame de Paris will resume its pre-fire opening hours, from 7:45 a.m. to 7:00 p.m. On April 15, 2019, the roof and spire of Notre-Dame de Paris were burned down in a sudden fire, but the main building was preserved. (CCTV News)
China's Annual Output of New Energy Vehicles Exceeds 10 Million for the First Time
It is learned from the China Association of Automobile Manufacturers that on the morning of the 14th, China's annual output of new energy vehicles exceeded 10 million for the first time, making it the first country in the world to reach an annual output of 10 million new energy vehicles. Statistical data shows that 2013 was the first year that the production and sales of new energy vehicles in China were included in the statistical system, with an annual output of only 18,000 vehicles. In 2018, the annual output reached the one million level. Then, in 2022, the annual output exceeded 5 million. Until the 14th, it exceeded the milestone of 10 million for the first time. With still one and a half months left until the end of the year, the output has increased by 4.3% compared to the 9.587 million vehicles produced last year. Experts predict that this number is expected to exceed 12 million by the end of the year. (CCTV News)
The China Railway Express (Chengdu-Chongqing) has operated 36,000 trips.
In a pioneering move nationwide, Chengdu and Chongqing have established a cross-provincial cooperation mechanism for the China Railway Express, jointly creating the brand "China Railway Express (Chengdu-Chongqing)". With over 50 operating routes, it covers more than 120 urban nodes in Europe and Asia. Up to now, 36,000 trips have been operated, making it an important carrier for the high-level opening-up of the western region. (Xinhua News Agency)
The Trump team plans to cancel the $7,500 electric vehicle tax credit
According to Reuters, the Trump transition team believes that the electric vehicle subsidy is an easy target to eliminate and plans to cancel the $7,500 tax credit for electric vehicles. Tesla expressed its support for this. (Cailian Press)
Apple Sued for Sound Issues with the First Generation AirPods Pro
On November 14, it is reported that Apple is facing a new class-action lawsuit. The lawsuit was filed on Wednesday, accusing the first-generation AirPods Pro of Apple of having sound problems. However, the company "illegally continued to advertise its superior sound quality" even though it knew that the AirPods Pro had defects. (Jiemian News)
Lei Jun: Xiaomi Has Invested 5.5 Billion in Intelligent Driving Research and Development
The chairman and CEO of Xiaomi, Lei Jun, started a live stream to showcase the "parking space to parking space" end-to-end intelligent driving technology. During the live stream, Lei Jun stated that Xiaomi has invested 5.5 billion yuan in intelligent driving research and development in the past three years. Lei Jun also mentioned that the large model of Xiaomi's current end-to-end intelligent driving technology has learned 3 million video clips and will reach 10 million video clips by the end of the year. (Sina Technology)
The First Flight of the Nation's First Low-altitude Unmanned Aerial Vehicle Route for Cross-River Commerce
On the morning of November 13, an Ark 40 SF Dronelike unmanned aerial vehicle carrying goods took off from the Wuhan Wushang MALL business district, marking the official first flight of the nation's first low-altitude unmanned aerial vehicle route for cross-river commerce. This route is jointly created by Wushang Group and SF Express, and was officially approved in October this year. In the future, its service scope will be further expanded to cover multiple fields such as medical and agricultural distribution to meet more extensive transportation needs. (Xinhua News Agency)
IEA: The global oil market will face a supply surplus of one million barrels per day in 2025
The International Energy Agency (IEA) has revised up its global oil demand growth forecast for 2024 to 920,000 barrels per day, compared with the previous forecast of 860,000 barrels per day. The IEA estimates that the global oil demand growth in 2025 will be 990,000 barrels per day, compared with the previous estimate of 1 million barrels per day. The IEA expects that the global oil market will face a supply surplus of one million barrels per day in 2025. (Cailian Press)
Wang Zhiqin, Head of China's 6G Promotion Group: The technical standard research of 6G will be initiated in June 2025.
At the 2024 Global 6G Development Conference being held in Shanghai, Wang Zhiqin, the head of China's 6G Promotion Group and the vice president of the China Academy of Information and Communications Technology, stated that the technical standard research of 6G will be initiated in June 2025. The technical research stage will be completed from 2025 to 2027, and the first version of the technical specification will be completed in March 2029. (CCTV News)
Eli Lilly's New Alzheimer's Drug Donanemab Gets Pricing Approval in Japan
It is reported that the "Central Social Insurance Medical Council," the advisory body of the Japanese Minister of Health, Labour and Welfare, approved the official pricing of the new Alzheimer's drug "Donanemab" on November 13. The annual treatment cost for a patient (assuming a weight of 50 kilograms) is approximately 3.08 million yen (about 143,000 yuan). It will be applicable to public insurance from the 20th. The drug is developed by the US pharmaceutical giant Eli Lilly. (Jiemian News)
Former Tubi Executive Banki Becomes Chief Financial Officer of Social Media Company X
Social media platform X has hired Mahmoud Reza Banki, a former executive of the streaming media platform Tubi, as the Chief Financial Officer. According to Banki's LinkedIn page, he joined X this month. (Cailian Press)
LG Energy Solution Denies Large-Scale Layoffs at Nanjing Plant
Recently, several employees of the South Korean lithium battery company LG Energy Solution have posted messages on social media platforms stating that LG Energy Solution (Nanjing) Co., Ltd. (hereinafter referred to as LG Energy Solution Nanjing), where they work, began layoffs in November. LG Energy Solution responded by saying that the relevant information about the company's personnel changes that has been circulating online recently is a normal employee adjustment under normal business operations, not a large-scale layoff as rumored. LG Energy Solution stated that the purpose of this adjustment is to optimize the production line arrangement to enhance the core competitiveness in accordance with changes in the market environment. The company did not disclose the specific scale of the employee adjustment at the Nanjing production base. (Jiemian News)
Adani Group of India Announces $10 Billion Investment in the US
The Chairman of Adani Group of India, Gautam Adani, stated that the Adani Group will invest $10 billion in the US energy security and resilient infrastructure projects, creating up to 15,000 jobs. (Caixin)
The Ministry of Finance and Other Two Departments: Expand the Implementation Scope of the Tax Rebate Policy for Departure Ports
36Kr has learned that the Ministry of Finance and other two departments have issued a notice on expanding the implementation scope of the tax rebate policy for departure ports. For export enterprises that meet the conditions and declare and export goods from the departure place, which are carried by China State Railway Group Co., Ltd. and its subsidiaries, and the container goods are transported by rail in a customs transit and directly leave the country from the departure place to the destination, the tax rebate policy for departure ports will be implemented. Wuxi (Jiangyin) Port is newly added to the "Departure Ports" in Article 2 "Applicable Scope of the Policy" of the "Notice of the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration on Improving the Tax Rebate Policy for Departure Ports" (Finance and Taxation [2018] No. 5).
Lotus Launches "Luyao" Super Hybrid Electric Technology
Lotus introduced the industry's first super hybrid electric technology brand "Luyao" with an ultra-900V and million-level before the 2024 Guangzhou Auto Show. This technology has a comprehensive cruising range of over 1100 kilometers and a 5C fast charging capability, including plug-in fast charging and self-fast charging while driving. According to the plan, Lotus' future models will be equipped with this super hybrid electric technology. (Cailian Press)
The Forefront of AI
Nvidia plans to develop a national-level AI infrastructure network
Nvidia plans to develop a national-level AI infrastructure network by collaborating with leading Japanese cloud computing companies such as GMO Internet Group and SAKURA Internet. (Caixin)
OpenAI's First AI Assistant Product May Be Released in January Next Year
According to informed sources, OpenAI plans to launch a new AI assistant product codenamed "Operator", which can automatically perform various complex operations, including writing code, booking travel, and automatic e-commerce shopping. According to internal staff revelations, OpenAI's leadership expects to release the product in January 2025, first as a research preview version and development tool, and an API interface will be opened for developers at that time. (Jiemian News)
Colorful Cloud Technology Releases General Large Model Yunjin Tianzhang Based on DCFormer Architecture
36Kr learned that on November 13, Colorful Cloud Technology officially released the first general large model Yunjin Tianzhang developed based on the DCFormer architecture. At the same time, Colorful Cloud Dream, an AI RPG platform under Colorful Cloud Technology, has also become the first AI product developed based on the DCFormer architecture. According to the introduction, Yunjin Tianzhang can endow fictional characters with basic abilities such as programming and mathematics on the basis of a fictional worldview. It can expand and abbreviate a large amount of text, make large-scale changes to the article style, and also have the basic abilities of question answering, mathematics, and programming of other models.
Big Company Financial Reports
JD.com: Revenue of 260.4 billion yuan in the third quarter, net profit of 13.2 billion yuan
36Kr learned that JD.com released its financial report for the third quarter of 2024. The financial report shows that JD.com's revenue in the third quarter was 260.4 billion yuan, compared with 247.7 billion yuan in the same period last year, and the market expectation was 259.731 billion yuan. Among them, the service income is about 55.8 billion yuan. Under non-US GAAP, the net profit attributable to ordinary shareholders of the listed company was 13.2 billion yuan. JD.com's quarterly active user numbers and user shopping frequency have maintained double-digit year-on-year growth for three consecutive quarters. Benefiting from the increase in user activity, the number of transaction users of third-party merchants increased by more than 20% year-on-year, and the order volume increased by more than 30% year-on-year.
NetEase: Revenue of 26.2 billion yuan in the third quarter, net profit of 7.5 billion yuan
36Kr learned that NetEase released its third-quarter financial report for 2024. The financial report shows that NetEase's revenue in the third quarter was 26.2 billion yuan, compared with 27.3 billion yuan in the same period last year; the net profit attributable to shareholders of the company under non-GAAP was 7.5 billion yuan. The R & D investment in the quarter was 4.4 billion yuan, and the R & D investment intensity reached 16.9%. From January 10, 2023 to September 30, 2024, the company repurchased approximately 1.6 billion US dollars of American Depositary Shares, of which 500 million US dollars of shares were repurchased in Q3 2024, an increase of 98% compared with the previous quarter. In the third quarter, the net income from games and related value-added services was 20.9 billion yuan, an increase of 4% quarter-on-quarter. The game revenue was 20.2 billion yuan, an increase of 5% quarter-on-quarter. The revenue of PC games increased by 29% year-on-year and 30% quarter-on-quarter.
Bilibili: Net profit of 240 million yuan after adjustment in the third quarter, achieving the first single-quarter profit after going public
36Kr learned that Bilibili released its financial report for the third quarter of 2024. The financial report shows that Bilibili's net profit after adjustment in the third quarter is 240 million yuan, achieving the first single-quarter profit after going public. In the third quarter, Bilibili's advertising business revenue was 2.09 billion yuan, with a year-on-year growth of 28%; the game business revenue was 1.82 billion yuan, with a year-on-year growth of 84%, driving Bilibili's gross profit to increase by 76% year-on-year, and the gross margin has increased quarter-on-quarter for 9 consecutive quarters to 34.9%. In addition, Bilibili announced that it will cumulatively repurchase stocks worth no more than 200 million US dollars within the next 24 months. Bilibili's US stocks rose more than 5% before the market.
Geely Automobile: Core shareholders' attributable profit in the third quarter of 2024 was 2.76 billion yuan, an increase of 116% year-on-year
36Kr learned that Geely Automobile released its third-quarter financial report. The financial report shows that in the third quarter, Geely Automobile achieved an operating income of 60.4 billion yuan, an increase of 20.5% year-on-year, and the single-quarter income reached the highest level in history; from January to September, Geely Automobile achieved an operating income of 167.7 billion yuan, an increase of 36% year-on-year. Benefiting from the scale effect and the optimization of the product structure, in the third quarter, Geely Automobile's core shareholders' attributable profit was 2.76 billion yuan, an increase of 116% year-on-year. From January to September, the company's shareholders' attributable profit reached 13.05 billion yuan, an increase of 358% year-on-year.
Investment and Financing
"Green Voltis" Completes Angel Round Financing of Tens of Millions of Dollars
36Kr has learned that recently, the European virtual power plant enterprise "Green Voltis" announced the successful completion of its angel round financing, with an amount of nearly ten million dollars. This round of financing is led by CCV, with participation from Yunqi Partners and Jiuhhe Ventures. This financing will be mainly used for technological innovation and market expansion of the AI Native virtual power plant.
SK Siltron, a South Korean semiconductor wafer manufacturer, obtains a $544 million loan financing from the US Department of Energy
SK Siltron, a semiconductor wafer manufacturer under the SK Group, announced on November 14 that it has obtained a loan financing of $544 million from the US Department of Energy. SK Siltron CSS will complete the expansion project of its Bay City factory in Michigan by 2027 based on the financial support from the US Department of Energy and the Michigan state government. After the expansion is completed, SK Siltron CSS will rely on the technological achievements of the Auburn Research and Development Center to vigorously produce high-performance silicon carbide (SiC) wafers. (Jiemian News)
Cool Products
Xiaomi Automobile Officially Releases Intelligent Chassis Pre-research Technology
On November 14, Xiaomi Automobile officially released the intelligent chassis pre-research technology. Four items are released this time: Xiaomi Fully Active Suspension, Xiaomi Super Four-motor System, Xiaomi 48V Wire-controlled Braking, and Xiaomi 48V Wire-controlled Steering. It can dance, make U-turns in place, and also make compasses-like U-turns. (Securities Times)
Big Events in the Business World
The "Big Events in the Business World" short-video column vividly interprets major events in the business world. It's really something. All kinds of corrupt and tricky operations are simply outrageous! (It should be noted that the last sentence seems to be a bit out of context with the rest of the content. It is not clear how it relates to the previous parts about Xiaomi Automobile. If there is a mistake or if more context is needed, please let me know.)
Organized by | Wang Xinyie