8:01 AM | The original author of the plagiarism controversy involving He Tongxue speaks out; Pang Donglai announces that its employees are not allowed to ask for or pay betrothal gifts when getting married; Zhong Shanshan responds to rumors about his son's nationality, saying that his son "doesn't have a single share of equity in his hands".

TOP3 Big News

The Original Author of the Copying Controversy Surrounding Classmate He Speaks Out

Recently, the video "I Made an Animation with 360,000 Lines of Memo..." by the blogger "Hello Teacher, I'm Classmate He" has been suspected of plagiarism. On the afternoon of November 19, Classmate He apologized in the comment section of the video and responded to the doubts, admitting that this software is indeed "modified from an open-source program", but there were flaws when collaborating with other colleagues, resulting in problems with the relevant copy and narration. On November 20, the well-known tech YouTuber "epcsoft" forwarded a letter written by the original author of the open-source project, vietnh1009, to Classmate He:

"Today, thanks to some Chinese friends on Github who told me that you are using my personal project and claiming to have written the code (the timestamp in the video is 00:56). I also made two YouTube tutorial videos to guide my viewers (mainly Vietnamese) on how to write this Python code for free. You are not only stealing someone else's work but also deceiving your subscribers. I think I might not be the first person whose work you have stolen. It doesn't matter to me, but I don't want to profit from it because it's not your original work, and your viewers deserve better. They pay you to appreciate your creativity and efforts, not to steal something from the Internet." (Caijing.com)

Pang Donglai Announces That Employees Are Not Allowed to Request or Pay Betrothal Gifts When Getting Married, and the Wedding Banquet Should Not Exceed 5 Tables for Employees

On the evening of November 20, Yu Donglai, the founder of Pang Donglai, posted on social media saying: Starting from next year, in order to promote a better life, guide a civilized social life, and live a rational, scientific, relaxed, and genuine life. When Pang Donglai's employees get married, they are not allowed to request or pay betrothal gifts. The wedding should not be extravagant and wasteful. The banquet can only invite relatives and friends, and it should not exceed five tables! If this cannot be achieved, the company will cancel all benefits from the institutional construction!

In addition, Yu Donglai also said that in order to allow more people to live a relaxed and beautiful life, the Pang Donglai Company is gradually formulating many rational and scientific lifestyles and methods. In the future, the Pang Donglai people trained by the company will all have a confident, independent, and sound personality, and live a youthful, passionate, relaxed, sunny, life state that walks with the world civilization and is free and beautiful. (Jiemian News)

Zhong Shanshan Responds to Rumors About His Son's Nationality, Saying His Son "Has No Shareholding at All"

On the afternoon of November 20, Zhong Shanshan responded to the media at an event in Ganzhou, Jiangxi Province, regarding the rumors that his son, Zhong Shuzi, is an American citizen. He said, "My son is now 36 years old. He should have his own right to choose. As a father, I haven't given him anything. He is still an employee and has no shareholding at all. I said on CCTV last time that Nongfu Spring will always be a Chinese enterprise. In China, the ownership of this enterprise can only be Chinese. I don't know if I've made myself clear enough."

According to public information, Zhong Shuzi, who was born in Hangzhou in 1988, began serving as a non-executive director of Nongfu Spring in 2017 and was appointed as the brand center general manager of Yangshengtang, the largest shareholder of Nongfu Spring, three years later. In addition, he also serves as a member of the audit committee of Nongfu Spring. In November 2023, Nongfu Spring established the Hangzhou Region, with Zhong Shuzi as the person in charge. (Jiemian News)

Big Companies/Big Events

Zhong Shanshan Says He Will Never Engage in Livestreaming to Sell Products

On November 19, when Zhong Shanshan, the founder of Nongfu Spring, attended an event in Ganzhou, Jiangxi, he stated, "I will never engage in livestreaming to sell products. I believe those enterprises are plain-type, while my enterprise is vertical. I have a foundation." "I look down on entrepreneurs who do livestreaming to sell products. You can do something more valuable," he said. (Sina Technology)

The Market Supervision Bureau Responds to the Doubts of Pechoin's Alleged False Propaganda

Recently, Pechoin has been at the center of controversy for allegedly adding prohibited ingredients. Previously, Pechoin's advertising slogan "28% rapid wrinkle reduction in 1 hour" was suspected of false propaganda. On November 20, a staff member from the Fengxian District Market Supervision and Administration Bureau in Shanghai told reporters: "We have received a report that Pechoin's advertising slogan '28% rapid wrinkle reduction in 1 hour' is suspected of false propaganda. Law enforcement officers will investigate whether it meets the criteria for filing a case, and will inform the reporter within 15 days whether the case will be filed." The above-mentioned staff member of the Market Supervision Bureau said that if consumers think that the effect of the Pechoin cream does not match the advertising after using it, they can complain to the merchant and request a refund. If the two sides reach a consensus through negotiation, Pechoin may agree to the refund; but if they cannot reach an agreement, the Market Supervision Bureau will terminate the mediation and close the case. (Jiupai News)

Shanghai Disneyland to Implement Real-name Ticket Purchase from December 23

Shanghai Disneyland Resort announced on November 20 that a new real-name ticket purchase policy will be officially implemented from December 23, 2024. This new policy is also in line with the relevant policies of most domestic tourist destinations. After the new policy takes effect, every visitor planning to visit Shanghai Disneyland must purchase a ticket with their valid official identity document, and one valid official identity document is limited to purchasing one ticket for the same visit date. When purchasing tickets, each visitor must provide the number of their valid official identity document.

When purchasing tickets, each visitor should use the document number on their acceptable valid official identity document for ticket purchase. The reporter found that previously, multiple tickets could be purchased with one person's identity information, but after the new rules are implemented, each ticket buyer must be bound to an ID card, meaning that tickets cannot be purchased on behalf of others. The industry believes that the real-name policy launched by Shanghai Disneyland Resort this time has a positive effect on combating illegal and irregular behaviors of "scalpers" such as hoarding and speculating on tickets, and is conducive to better maintaining the ticket market order, as well as the visiting order and environment of Shanghai Disneyland Resort. (China Business News)

The Project Establishment Guidelines for Radiological Examinations Released, and New Regulations on Charges for CT, MRI, and X-ray Will Be Implemented

Recently, the National Healthcare Security Administration issued the Project Establishment Guidelines for Radiological Examination Price Items (Trial), uniformly integrating and standardizing the current radiological examination items to promote the rationalization of radiological examination prices. The project establishment guidelines absorb some local practical experience and incorporate digital image processing, uploading, and cloud storage into the price composition of radiological examinations. That is to say, the examination results are uploaded to the cloud, enabling patients to read their own examination materials in a convenient way. If medical institutions are unable to achieve cloud storage of examination images, a certain fee reduction is required. In addition, the project establishment guidelines uniformly separate the physical film from the project price composition, allowing patients to purchase it as needed. The physical film is sold at a zero markup price and is not bundled for charging. (CCTV News)

The pioneer of foldable screen phones, Royole Technology officially declared bankruptcy

On November 19, according to the announcement of the Shenzhen Intermediate People's Court, based on the investigation results of the administrator on the existing assets and liabilities of Royole Technology, Royole Electronics, and Royole Display, it can be determined that Royole Technology, Royole Electronics, and Royole Display are unable to pay off their due debts, and their assets are insufficient to pay off all debts. In accordance with Article 2, Paragraph 1, and Article 107 of the Enterprise Bankruptcy Law of the People's Republic of China, this court ruled on November 18, 2024, to declare Royole Technology, Royole Electronics, and Royole Display bankrupt.

Royole Technology was founded by Liu Zihong, Yu Xiaojun, and Wei Peng in 2012. In October 2018, it released the world's first foldable phone "FlexPai", with a price of 8999 yuan. It is the true pioneer of foldable screen phones, four months earlier than the Samsung Galaxy Fold series. (Fast Technology, Red Star Capital Bureau)

2,705 Sets of Rental Housing for Security in Shenzhen Are Allocated to Individuals for the First Time, with the Lowest Rent at 13.8 Yuan per Square Meter per Month

Reporters learned from the Shenzhen Housing Security Department that on November 20, the department initiated the allocation work of seven rental housing projects for security. This batch of housing is allocated to eligible citizens in accordance with the "Management Measures for Rental Housing for Security in Shenzhen", and the rent is determined at 60% of the market reference rent. This is the first time that Shenzhen has organized the allocation of rental housing for security to individuals by the government. The recognition and subscription period for this batch of allocation is from November 20 to November 29, 2024. It is reported that 2,705 sets of rental housing for security are allocated in this batch, distributed in 7 projects in Guangming District, Pingshan District, and Dapeng New District in Shenzhen. The lowest rent is 13.8 yuan per square meter per month, and the highest is 24 yuan per square meter per month. (China News and Jwview)

XPeng Motors to Launch Range-Extended Vehicle Next Year. He Xiaopeng: In the Next Three Years, China's New Energy Vehicle Industry Will Enter an Elimination Round

"After going through two years of headwinds, I believe XPeng is about to enter a new positive cycle stage," He Xiaopeng, Chairman and CEO of XPeng Motors, said at the company's third-quarter earnings conference call on November 19. Behind the accelerated launch of new products, He Xiaopeng believes that in the next three years, China's new energy vehicle industry will enter an elimination stage. "On the one hand, the penetration rate of new energy vehicles in China will reach more than 85%; on the other hand, the AI revolution will also drive the penetration rate of new energy vehicles to the next stage," He Xiaopeng said. "Next year, XPeng Motors will be the first to make high-level intelligent driving software and hardware standard for all models, and will lower the threshold of high-level intelligent driving to models priced at 150,000 yuan. In 2025, XPeng Motors will make a leap in both autonomous driving and vehicle intelligence," He Xiaopeng said. (National Business Daily)

The Clearance between Hong Kong, Macao and the Mainland is Accelerated Again, and the First Batch of "Document-Free" Channels in the Country Are Put into Trial Operation

From 0:00 on November 20, the first batch of "document-free" channels in the country were put into trial operation at the Gongbei Port in Zhuhai, which is adjacent to Macao. It is reported that this convenient clearance measure is currently mainly aimed at "frequent travelers" traveling between Guangdong, Hong Kong and Macao. It includes: Mainland residents who are at least 14 years old (inclusive), hold a valid Exit-Entry Permit for Travelling to and from Hong Kong and Macao and multiple valid endorsements for staying, visiting relatives, business, talents, and other types of travel to Hong Kong and Macao; Hong Kong and Macao residents who hold a valid Mainland Travel Permit for Hong Kong and Macao Residents (including non-Chinese nationals) and agree that the border inspection authorities collect and verify information such as facial features and fingerprints. When the above groups use the "document-free" channel for clearance, they do not need to show the physical entry and exit documents, and can complete the clearance procedures by relying on the retained biometric information. (CCTV.com)

iDreamSky and Tencent Cloud Reach Strategic Cooperation in the Field of Game AI and Establish a Joint Innovation Laboratory

36Kr has learned that iDreamSky has announced that its Chinese consolidated affiliated entity, Shenzhen iDreamSky Technology Co., Ltd., has recently signed a strategic cooperation agreement with Tencent Cloud Computing (Beijing) Co., Ltd. (hereinafter referred to as "Tencent Cloud"). The two sides have established a joint innovation laboratory, focusing on the theme of "AI Helping Improve the Quality and Efficiency of Game Development". They will continue to deepen the cooperation based on the existing cooperation in AI code assistants, AI R & D efficiency tools, etc. Combining the actual game scenarios of the group and the technical advantage areas of Tencent Cloud, a long-term strategic cooperation has been reached. Both sides will jointly invest resources to continuously innovate in the direction of the game AI field and promote the implementation of the technology.

Pony.ai Expands ADS Offering Size to 20 Million Shares, Increasing Total IPO Funding to $452 Million

36Kr has learned that the leading autonomous driving company Pony.ai has updated its prospectus with the US Securities and Exchange Commission. Due to the unprecedented enthusiasm of investors for Pony.ai's IPO, the company has expanded the IPO size from the originally planned 15 million ADS to 20 million ADS, an increase of 33.3%. The IPO offering price range of Pony.ai is set at $11 - $13 per ADS. If the underwriters exercise their over-allotment option, the offering size will further expand to 23 million ADS. The previous prospectus showed that BAIC and Singaporean transportation operator ComfortDelGro have both expressed their intention to subscribe for ADS. At the same time, four investors including GAC have subscribed for its $153.4 million common shares through a private placement. Through this IPO, Pony.ai has increased its fundraising to a maximum of $452 million.

Shanshan Holdings Completes Leadership Change and Business Registration Amendment

36Kr has learned that the Aiqicha App shows that recently, Shanshan Holdings Co., Ltd. has undergone business registration changes. Zheng Ju stepped down as the legal representative and chairman, and was succeeded by Zhou Ting. At the same time, many key personnel have also changed. Currently, Zheng Ju is still a director of the company. Shanshan Holdings Co., Ltd. was established in August 2004 with a registered capital of approximately 1.525 billion yuan. The company's business scope includes investment management, the research and development and sales of clothing, knitwear and textiles, clothing fabrics, and related high-tech materials. Shareholder information shows that the company is jointly held by Kunming Jinyuan Anshan Investment Partnership (Limited Partnership), Ningbo Xinrun Jiaying Trading Co., Ltd., Mianyang Miangao Equity Investment Fund (Limited Partnership), etc.

Oriental Securities: Vice President Xu Haining Resigns

36Kr has learned that Oriental Securities has issued an announcement. The company's board of directors has recently received a written resignation report from the company's vice president, Xu Haining. Due to personal career development reasons, Xu Haining has applied to resign from positions such as the company's vice president. After resigning, he will no longer hold any position in the company.

*ST Jingfeng: The company and its subsidiaries are operating normally, and the stock will resume trading from tomorrow

36Kr learned that *ST Jingfeng announced that the company's stock will resume trading from the opening of the market on November 21, 2024. The price of the company's stock has increased by 752.78% from July 3, 2024 to November 15, 2024, and the stock price has fluctuated greatly. After verification, the company and its subsidiaries are operating normally, and there are no other major changes in the main business at present. The company has entered the pre-reorganization procedure, but whether it can enter the reorganization procedure still has significant uncertainties. The company has no major matters that should be disclosed but not disclosed, nor are there major matters in the planning stage. The company's stock is at risk of being superimposed with a delisting risk warning and being terminated from listing.

NASA Assigns Lunar Cargo Missions, Musk and Bezos Undertake "Lunar Express"

On November 19 local time, the National Aeronautics and Space Administration (NASA) stated that it will assign the lunar cargo missions to Musk's SpaceX and Bezos' Blue Origin. Previously, SpaceX and Blue Origin have obtained NASA contracts to develop lunar landers for manned lunar landing missions. NASA said that these two companies will also provide cargo-version lunar landers to transport large equipment and infrastructure to the lunar surface. (CCTV News)

Tesla is reported to purchase HBM4 chips from SK Hynix or Samsung

Semiconductor industry sources say that SK Hynix and Samsung Electronics are recently developing HBM4 chip samples for Tesla. Tesla will choose one of the suppliers after testing the samples. Compared with the customized chips mainly purchased by Microsoft, Google, Meta, etc., Tesla will purchase the general-purpose HBM4 to enhance the performance of its supercomputer Dojo. (Jiemian News)

Over 80% of Staff in Italy's Healthcare System Go on Strike, 1.2 Million Medical Services Canceled

On November 20 local time, a large-scale strike was held in Italy's healthcare system. According to the industry union, about 85% of Italian doctors, healthcare managers, nurses, and other healthcare workers participated in this strike. On November 20, a total of 1.2 million medical services including health aid services, medical examinations, surgeries, and specialist consultations in Italy were forced to be canceled, but emergency services were guaranteed. Relevant unions stated that the strike was mainly to protest against the deteriorating working conditions and income levels in Italy's healthcare service system. (CCTV News)

The three major U.S. stock indexes closed with mixed results, and most large technology stocks declined

36Kr learned that as of the close on November 20, the three major U.S. stock indexes had mixed results. The Nasdaq fell by 0.11%, the S&P 500 index closed unchanged, and the Dow Jones Industrial Average rose by 0.32%. Most large technology stocks declined. Google and Tesla fell by more than 1%, Amazon fell by 0.85%, NVIDIA fell by 0.76%, and Microsoft fell by 0.55%. Netflix rose by more than 1% and continued to set a new historical high. Meta rose by 0.79%, and Apple rose by 0.32%. Most popular Chinese concept stocks rose. Kingsoft Cloud rose by more than 42%, iQIYI rose by more than 4%, Bilibili rose by more than 3%, Tencent Music, Futu Holdings, and NetEase rose by more than 2%, XPeng Motors rose by 0.96%, and NIO rose by 0.43%. Li Auto, Douyu, Huya, and Pinduoduo fell by more than 1%.

Indian media accuses OpenAI of copyright infringement and demands 20 million rupees in compensation

On November 19 local time, one of the largest news agencies in India, Asian News International (ANI), filed a lawsuit against OpenAI in the High Court of New Delhi, accusing it of using their news works to train artificial intelligence (AI) chatbots without permission. OpenAI responded that it has stopped the relevant behavior. ANI's lawyer, Sidhant Kumar, said that OpenAI undoubtedly violated ANI's rights and is therefore seeking an initial damages of 20 million rupees (approximately $237,000). (Cailian Press)

The UK Antitrust Authority Approves Google's Partnership with Anthropic

The Competition and Markets Authority (CMA) of the UK stated on November 19 that, according to the merger rules, the collaboration between Google and the artificial intelligence company Anthropic does not meet the requirements for a comprehensive investigation, and this transaction will avoid further scrutiny. The regulatory agency said that Google does not have a "substantial impact" on Anthropic due to this transaction. Last year, after Google, a subsidiary of Alphabet, promised to invest 2 billion US dollars in this startup company, the agency began to carefully consider this cooperation. (Zhitong Finance)

The Forefront of AI

Kunlun Wanwei's Real-time Voice Conversation Assistant Skyo to Be Launched in December

On November 20, Kunlun Wanwei officially launched the 4o version of "Tian Gong Large Model 4.0" (Skywork 4o) and a new product, "Real-time Voice Conversation Assistant Skyo". It is introduced that Skyo, as an intelligent voice interaction product, has the capabilities of quick response and multilingual conversation. Meanwhile, Skyo has the functions of emotional response and personalized voice customization, bringing a companion experience to users. It is worth noting that based on the technical capabilities of the large model of Tian Gong AI and the AI search function, Skyo can overcome the problem of large model hallucinations and reply with real content in the conversation. Skyo will be launched in December this year.

Microsoft Releases Software to Simplify AI Development to Boost Cloud Service Growth

Microsoft has released new tools to assist cloud customers in building and deploying artificial intelligence applications, with the aim of generating more revenue from generative artificial intelligence. Azure AI Foundry enables users to switch more easily between large language models that support artificial intelligence. Microsoft announced the new product at its annual Ignite conference in Chicago on November 19 and said it will be provided for free to attract more enterprise customers to purchase its cloud services. (Sina Finance)

The AR glasses brand "Tribute to the Unknown" plans to launch AI glasses products in the first quarter of next year.

36Kr has learned that the AR glasses brand "Tribute to the Unknown", which once received investment from Alibaba, plans to launch its AI glasses products in the first quarter of next year. It is understood that this AI glasses is part of its second-generation product line, and the research and development was initiated at the beginning of this year. It focuses on non-display technology, mainly targeting the overseas market, and is planned to be released in Q1 next year. This product will provide application scenarios that are completely different from Ray-Ban Meta.

Big Company Financial Reports

Amer Sports: Revenue in Greater China increased by 56% year-on-year in the third quarter

36Kr learned that the financial report released by Amer Sports shows that the revenue in the third quarter of 2024 reached 1.354 billion US dollars, with a year-on-year increase of 17%. Among them, the revenue in Greater China increased by 56% year-on-year, and the revenue in the Asia-Pacific region increased by 47% year-on-year.

Kuaishou: Adjusted net profit in the third quarter was 3.9 billion yuan, an increase of 24.4% year-on-year.

36Kr learned that Kuaishou released its financial report for the third quarter of 2024. The financial report shows that in this quarter, Kuaishou achieved an adjusted net profit of 3.9 billion yuan, an increase of 24.4% year-on-year. The GMV of Kuaishou E-commerce in the third quarter reached 334.2 billion yuan, an increase of 15.1% year-on-year; the average monthly number of buyers in e-commerce increased to 133 million, and the proportion of the pan-shelf in the total e-commerce GMV increased to 27%. Thanks to a number of new business and support plans for small and medium-sized merchants, the average monthly number of active merchants in the third quarter increased by more than 40% year-on-year, and the number of newly settled merchants increased by more than 30% year-on-year.

Douyu: Revenue in the third quarter was 1.063 billion yuan, achieving sequential growth for the first time in 8 quarters.

36Kr learned that Douyu released its unaudited financial report for the third quarter of 2024. The financial report shows that the quarterly average MAU of Douyu's mobile terminal in the third quarter was 42.1 million, and the quarterly average number of paying users was 3.4 million. The total revenue was 1.063 billion yuan, achieving sequential growth for the first time in 8 quarters. Among them, the innovative business, advertising and other income achieved a steady growth, reaching 311 million yuan, a significant increase of 49.4%, and the income contribution ratio was 29.3%, which was significantly higher than 15.3% in the same period of 2023.

NIO Releases Third Quarter 2024 Financial Results

36Kr learned that NIO released its third quarter 2024 financial results. The financial report shows that in this quarter, NIO achieved revenue of 18.67 billion yuan. In the same period of the previous year, the revenue was 19.07 billion yuan, and the market expectation was 19.17 billion yuan.

Investment and Financing

Singapore-based overseas warehouse company "Locad" completes $9 million Pre-B round financing

36Kr learned that the Singapore-based overseas warehouse company "Locad" announced on November 20 that it has successfully completed a $9 million Pre-B round of financing. This round of financing is jointly led by Global Ventures and Reefknot Investments, with Sumitomo Equity Ventures and existing shareholder investors Antler Elevate, Febe Ventures, and JG Summi participating.

Compiled by |Hao Yuqi