Krypton Evening Post｜The Ministry of Finance: From January to October, the national general public budget revenue was 18,498.1 billion yuan, a year-on-year decrease of 1.3%; Sequoia China and others withdrew from the list of shareholders of the affiliated company of NIO Capital.
Big Companies:
Taobao and Rokid Collaborate to Launch 3D Shopping
36Kr learned that on November 18, at the Rokid Jungle 2024 Partners and New Product Launch Conference, Misa, the founder and CEO of Rokid, shared the latest cooperation with Taobao: Consumers can log in to Taobao on AR devices, browse 3D products and spatial videos, and directly place orders for purchase. It is introduced that the cooperation between Rokid and Taobao means that its ecosystem begins to extend to the e-commerce field, exploring the integration of AR technology and shopping scenarios. At the same time, this is also the first time that Taobao has launched a 3D product browsing page and supports 3D shopping.
Niu Technologies: Revenue of 1.02 billion yuan in the third quarter, with a year-on-year growth of 10.5%
Niu Technologies released its financial report for the third quarter of 2024 as of September 30 today. The financial report shows that the company's revenue in this quarter was 1.02 billion yuan, with a year-on-year growth of 10.5%; the net loss was 40.9 million yuan, compared with a net loss of 79.4 million yuan in the same period of the previous year; it is expected that the revenue in the fourth quarter will be 622 million yuan - 718 million yuan.
Sequoia China and others withdraw from the list of shareholders of NIO Capital's affiliated company
36Kr learned that the Aiqicha App shows that recently, the industrial and commercial registration of Hubei Changjiang NIO New Energy Investment Management Co., Ltd., an affiliated company of "NIO Capital", has undergone changes. The original shareholders, Beijing Sequoia Mingde Equity Investment Center (Limited Partnership) under Sequoia China and Kunshan Xinghua Investment Consulting Center (Limited Partnership), have withdrawn. The registered capital has been reduced from approximately 180 million yuan to 100 million yuan. At the same time, many senior executives have also undergone changes.
The number of registered users of Xianyu exceeds 600 million, and AI technology is applied to the idle trading scenario for the first time
36Kr learned that at the 29th United Nations Climate Change Conference (COP29), Chen Jufeng, the CTO of Xianyu, revealed that the number of registered users of Xianyu currently exceeds 600 million. In the past year alone, more than 30 million post-95s have flocked to Xianyu. Public data shows that the compound annual growth rate of Xianyu's users is close to 30%, and the change has been particularly rapid in the past two or three years. At the beginning of 2024, Xianyu's daily average GMV has even broken through a new milestone of 1 billion yuan. It is worth mentioning that the "Xianyu AI Intelligent Entity", an AI model in the style of Xianyu, also made an appearance at the scene and attracted attention. This is also the first time in the industry that AI technology has been applied to the idle trading scenario.
Infinity May Stop Domestic Production
Some media reports claim that the Infinity brand may withdraw from domestic production, and Dongfeng Nissan will no longer produce Infinity brand vehicle models. In the Chinese market, Dongfeng Nissan's choice is to increase its focus on electrification. At the Guangzhou Auto Show, Dongfeng Nissan launched its first pure electric vehicle under the new energy architecture - N7. Kanki Isao, Vice President of Dongfeng Motor Co., Ltd. and General Manager of Dongfeng Nissan Passenger Vehicle Company, said that in the next three years, Dongfeng Nissan will invest more than 10 billion yuan in the NEV sector for R & D, and the technical center will expand to 4,000 people. (21 Finance and Economics)
Shein plans to conduct an IPO in the first quarter of 2025
It is reported that Shein plans to conduct an IPO in the first quarter of 2025, but still needs to wait for the approval of the regulatory authorities. The company is preparing to hold an official investor roadshow in the coming weeks. The potential listing will give Shein a business valuation of £50.3 billion. (Caixin Link)
Quark becomes the preferred AI application for young people on the PC side
36Kr learned that Quark has released an "Academic Search" AI product. Relying on AI technology and hundreds of millions of academic documents, it will improve the efficiency of information acquisition, creation and processing in academic work. It is understood that the latest data from PConline shows that Quark's PC side ranks first in the download volume of domestic PC-side AI applications in 2024, becoming the preferred PC-side AI product for young people.
Investment and Financing:
"Aerospace Feipeng" Completes Hundreds of Millions of Yuan in Pre-B Round Financing
36Kr has learned that recently, "Aerospace Feipeng" has completed hundreds of millions of yuan in Pre-B round financing. This round of financing is led by Suzhou Port and Shipping Group, with the founding shareholder GY Capital continuously increasing its investment, and Shenzhen Kunpeng Capital and Suzhou Guofa Venture Capital participating as co-investors. After the completion of this round of financing, Aerospace Feipeng will accelerate the airworthiness certification of large-tonnage fixed-wing unmanned aircraft and vertical take-off and landing unmanned aircraft.
New Products:
Huawei Mate 70 Series Opens for Pre-Order, and the Number of Reservations for Three Products Has Exceeded One Million
On November 18, the topic "Huawei Mate 70 is Coming" rushed to the hot search on Weibo. On the same day, Huawei Terminal announced that the Huawei Mate Brand Gala will be held at 14:30 on November 26. At the same time, the appearance of the Huawei Mate 70 series products was also publicly unveiled for the first time, and pre-orders started at 12:08 on the 18th. Up to the time of sending this report, the reporter noticed that the number of reservations for the three products of the Huawei Mate 70 series, Mate 70, Mate 70 Pro, and Mate 70 Pro+, on the Huawei Mall has exceeded one million. (China Business News)
Today's Viewpoint:
Goldman Sachs: Singapore's stock market appears attractive, but the current performance is not outstanding
Goldman Sachs' Asia-Pacific Portfolio Strategy Research team stated that Singapore's stock market appears attractive, but the current performance is not outstanding. "Our analysts' more positive views on the banking, technology, and telecommunications sectors offset the impact of concerns about external sensitivity and economic slowdown," the team said in a report. The team added that Singapore's stock market "is at a medium level in terms of valuation, corporate profit growth, and ranking as measured by our indicators". (Sina Finance)
Other news worthy of attention:
Ministry of Finance: From January to October, the national general public budget revenue was 18,498.1 billion yuan, a year-on-year decrease of 1.3%.
36Kr learned that the Ministry of Finance announced the fiscal revenue and expenditure situation in October 2024. From January to October, the national general public budget revenue was 18,498.1 billion yuan, with a year-on-year decrease of 1.3%. Among them, the national tax revenue was 15,078.2 billion yuan, a year-on-year decrease of 4.5%; non-tax revenue was 3,419.9 billion yuan, a year-on-year increase of 15.3%. From the perspective of the central and local governments, the central general public budget revenue was 8,248.2 billion yuan, a year-on-year decrease of 3.9%; the local general public budget revenue at the local level was 10,249.9 billion yuan, a year-on-year increase of 0.9%. The stamp duty was 292 billion yuan, a year-on-year decrease of 16.4%. Among them, the securities transaction stamp duty was 86.6 billion yuan, a year-on-year decrease of 46.4%.
China Photovoltaic Industry Association: The scale of losses caused by this industry fluctuation far exceeds the previous three industry fluctuations
The honorary chairman of the China Photovoltaic Industry Association, Wang Bohua, said that in the first three quarters of 2024, the total export value of China's photovoltaic products (silicon wafers, solar cells, and modules) was 25.93 billion US dollars, a year-on-year decrease of approximately 35.1%, continuing the trend of "increasing quantity but decreasing price". The loss area in the photovoltaic industry continues to expand, and the scale of losses caused by this industry fluctuation far exceeds the previous three industry fluctuations. Especially, the price of each link in the photovoltaic industry this year has dropped by more than 60% compared to the high point in 2023. However, he is still optimistic about the future, and the basis for his optimism comes from the installed capacity. He believes that by 2029, photovoltaic power generation will exceed hydropower. In addition, the continuous decline in the cost of the photovoltaic industry remains a booster for global installations. (Everyday Economics)
The Yiwu China-Europe Railway Express has been in operation for ten years, with a cumulative total of over 6,700 trips
This morning, the X8020 China-Europe Railway Express from Yiwu, Zhejiang to Madrid, Spain departed from Yiwu West Railway Station. It was also on this day ten years ago that the first Yiwu China-Europe Railway Express originated from here. Over the past ten years, the Yiwu China-Europe Railway Express has reached more than 160 cities in Asia and Europe. As of October this year, the import and export goods of the Yiwu China-Europe Railway Express have reached 26 major categories and nearly 50,000 kinds of commodities. Over the past ten years, the Yiwu China-Europe Railway Express has accumulated more than 6,700 trips and sent more than 670,000 TEUs of goods. (CCTV News)
South Korea plans to set 39 international standards for the semiconductor industry by 2031
The South Korean standards agency said on Monday that it plans to set 39 new international standards in the semiconductor industry by 2031 to enhance South Korea's competitive advantage in this field. The Korea Agency for Technology and Standards (KATS) announced this roadmap at an industry forum as part of its broader strategy aimed at achieving a leading position in the global semiconductor market as soon as possible. The agency's goal is to set more than 15 new international standards in the semiconductor technology field by 2027 and 39 standards by 2031. (Sina Finance)