8:01 AM | Buffett Announces Posthumous Arrangements, Donating 99.5% of Shares to Family Charity Fund; Huawei Mate 70 Released; WeChat Official Responds to Automatic Cleaning of Original Images after 14 Days
Buffett Announces Posthumous Arrangements, Donating 99.5% of Shares to Family Charitable Foundation
According to Hongxing News, on November 25 local time, 94-year-old "Stock God" Buffett wrote a letter to the shareholders of Berkshire Hathaway, announcing his detailed posthumous arrangement plan, which has attracted widespread attention. The letter stated that this time, he converted 1,600 Berkshire Class A shares into 2.4 million Class B shares, worth approximately $1.1 billion, and donated them to four family foundations managed by his three children. Berkshire Class A shares have a share price of as high as $716,000 per share, making it one of the most valuable stocks in the world. Buffett said that he and his late first wife, Susan, originally planned for Susan to handle most of the wealth donation matters. After Susan's death, about 96% of her approximately $3 billion estate was donated to the foundation, and each of the three children received $10 million. He believes that wealthy parents should leave their children an appropriate amount of money, allowing them to do what they want to do without making them idle. Buffett said that the core of his will plan is to adhere to the promise made in 2006 to donate 99.5% of his shares in Berkshire to the family charitable foundation, leaving only 0.5% of his personal wealth to his three children. (Hongxing News)
Huawei Mate 70 Released
According to IT Home, on November 26, the Huawei Mate 70 series was officially released. The regular version starts at 5,499 yuan, the Pro version starts at 6,499 yuan, the Pro+ version starts at 8,499 yuan, and the Mate 70 RS Extraordinary Master offers two versions, 16GB RAM + 512GB storage for 11,999 yuan and 16GB RAM + 1TB storage version for 12,999 yuan. The specifications of the Huawei Mate 70 RS are basically the same as the Pro+, and it is available in red, white, and black; Mate 70 and Mate 70 Pro have four color options: spruce green, snow white, hyacinth purple, and obsidian black.
According to Kuaitech, there are rumors that the Mate 70 series may not trigger a price increase wave but maintain the same pricing as the Mate 60 series. It is expected that the sales volume of the Mate 70 series is likely to exceed that of the Mate 60 series, starting at least 14 million units. (IT Home, Kuaitech)
WeChat Official Response on Automatic Deletion of Original Images after 14 Days
Recently, WeChat is conducting a small-scale internal test of a function that "automatically deletes original images and original videos after 14 days" to reduce the app's size. Jiang Hongchang, a senior researcher at the WeChat Strategy Research Institute, said that many users are troubled by the problem of WeChat occupying storage space, and the new function is to optimize the space occupation of chat records. WeChat released version 1.0 in January 2011, and its installation package was only 457KB in size. Thirteen years later, the WeChat installation package has exceeded 600MB. Currently, the functions of various major apps are continuously increasing, and the storage burden on mobile phones is becoming heavier and heavier. "Cleaning up mobile phone memory" tutorials have become a popular search keyword. (CCTV News)
Xiaomi's First Smart Home Appliance Factory Laid the Foundation in Wuhan
36Kr learned that on November 26, the groundbreaking ceremony of Xiaomi Group's first smart home appliance factory was held in Wuhan. It is understood that the first-phase project of Xiaomi's smart home appliance factory focuses on the air conditioning category and plans six core sub-factories, fully covering the assembly and production of household and central air conditioners. This year, Xiaomi Group's self-built Xiaomi Automobile Factory and Xiaomi Mobile Phone Smart Factory have been completed and put into use one after another. The construction of this Xiaomi Smart Home Appliance Factory is another important milestone for Xiaomi Group in the process of continuously promoting the "Vehicle-Person-Home Full Ecology" strategy and moving towards hardcore technology. It also indicates that Xiaomi's "Vehicle-Person-Home Full Ecology" strategy has completed the business closed loop in large-scale self-built factories and realized that the strategic core business has begun to comprehensively build an integrated production and research layout.
Intel Chengdu Packaging and Testing Base Expands, Adding Server Chip Production Capacity
At the Intel New Quality Productivity Technology Ecosystem Conference held on November 26, Wang Rui, Senior Vice President of Intel and Chairman of Intel China, said that there are two key points in expanding the Chengdu Packaging and Testing Base: First, to add server chip production capacity, so that the Chengdu Packaging and Testing Base can cover various products from client to server chips, widely meet the needs of the Chinese market, and significantly shorten the response time to customers, enhancing the resilience of the supply chain; Second, to establish a one-stop customer solution center to create an all-round platform to promote the digital transformation of enterprises. These two constructions will accelerate the local industrial chain support and increase and deepen the support for Chinese customers. (Caixin News Agency)
Chen Yilun, Former Chief Scientist of Huawei's Vehicle BU, Starts a Business in Embodied Intelligence
Chen Yilun, the former Chief Scientist of Autonomous Driving at Huawei's Vehicle BU, has embarked on an entrepreneurial journey in embodied intelligence and founded "Tashi Zhihang" in July this year. Another co-founder of this company is Ding Wenchao, who was Chen Yilun's colleague at Huawei. An informed source said that Tashi Zhihang is in the first round of financing, and the direction has not been fully determined. Currently, the team members are mainly doctoral students from Tsinghua University and Fudan University. (LatePost Auto)
Will RoboTaxi conduct road tests in Hong Kong? Customer Service Response: No Specific Notice Received
After disclosing last week that the total service volume of Baidu's autonomous driving service RoboTaxi has exceeded 8 million orders, Baidu's global layout of autonomous driving has taken more substantive actions. According to media reports, it is expected that by the end of this year, RoboTaxi will conduct relevant road tests in specific areas of Hong Kong. The customer service of RoboTaxi responded: Currently, the commercialization pilot area in the Hong Kong region has not yet been opened. The customer service has not received a specific notice. If the commercialization pilot is opened later, it will be displayed in the commercialization pilot area. It is recommended that you continue to pay attention. Regarding this, Baidu has not responded yet. (Sina Technology)
Citigroup Plans to Reduce the Number of Year-End Promotions
According to sources, Citigroup's managers have been informed that possibly up to 2,000 Citigroup employees could receive salary increases and promotions next month, which is fewer than the approximately 8,000 in previous rounds. These changes affect "in-seat promotions," where the bank gives employees salary increases and better job titles without adjusting their responsibilities. A Citigroup spokesperson said that promotions are an important part of the company's talent strategy. "Although our year-end process is still ongoing, the assertion that we will see a significant reduction in bank-wide promotions or other job-level adjustments is incorrect." (Sina Finance)
Huawei Hongmeng Zhixing has delivered a cumulative total of 500,000 vehicles.
36Kr has learned that, according to Huawei Terminal, on the afternoon of November 26, Yu Chengdong, Executive Director of Huawei and Chairman of the Terminal BG, disclosed at the Huawei conference that Huawei's "Hongmeng Zhixing" has delivered a cumulative total of 500,000 vehicles in 32 months. Hongmeng Zhixing is Huawei's intelligent vehicle ecosystem brand, which is upgraded from Huawei's Intelligent Vehicle Selection business model. Currently, Huawei's automotive partners in this model include Seres, BAIC, JAC, and Chery Automobile, which have jointly created the AITO, Xiangjie, Zunjie, and Zhijie intelligent vehicle brands, respectively.
ZEEKR Executives Respond to Tesla's Price Cut: No Price and Benefit Adjustments Will Be Made
36Kr learned that Lin Jinwen, Vice President of ZEEKR Intelligent Technology, responded to Tesla's price cut on his personal Weibo. He said that ZEEKR's weekly sales exceeded 6,200 units last week. Since the second half of this year, the weekly sales have continuously broken the historical highest data. We also noticed that Tesla announced the price adjustment of Model Y on November 25, which once again triggered discussions on the price war in the car market at the end of the year. Here, it can be clearly stated that ZEEKR will not make price and benefit adjustments.
It is reported that Samsung Electronics will conduct a large-scale personnel adjustment as soon as this week
According to industry sources, Samsung Electronics is expected to conduct a large-scale personnel adjustment as soon as this week to improve the sluggish performance. According to sources who declined to be named, Samsung Electronics started to lay off some senior executives in charge of the chip business in the Device Solutions Division on Monday, and the list of the new president is expected to be announced as early as Wednesday. (Sina Finance)
Behind the Changes of the Domestic Switch: Third-Party Service Providers Become the Behind-the-Scenes Factor, Users Will Be Given 4 Games as Gifts
36Kr exclusively learned that the domestic Switch announced on November 26 that it will gradually adjust the Nintendo eShop and other network-related operating services starting from March 31, 2026. At the same time, a "Feedback Program" is launched, and all domestic Switch users can be given up to 4 games or software for free. A source exclusively disclosed to 36Kr that this operational adjustment mainly involves network services including multiple key functions such as eShop data verification. These tasks were previously handled by a network service provider that has long-term cooperation with Nintendo. However, due to the recent business changes of this service provider in China, it cannot continue to undertake these tasks, and Nintendo cannot transfer the related work to a new third party, forcing Tencent, which is responsible for the operation of the domestic Switch, to make relevant adjustments.
The National Radio and Television Administration requires strengthening the management of "Overbearing CEO Micro-Dramas": Do not use words like "Overbearing CEO" as the title to attract attention and drive traffic.
On November 25, Zhou Hongyi revealed on Weibo that he participated in a micro-drama to promote a new product. Zhou Hongyi also "spoiled" that he was going to invite several entrepreneur friends to make cameo appearances, asking them to play overbearing CEOs who fall in love with a 50-year-old cleaner. Zhou Hongyi's move is only for product promotion, but for a large number of Overbearing CEO micro-dramas on the Internet, they have already faced relevant regulatory requirements. It is reported that the "Management Tips ('Overbearing CEO' Micro-Dramas)" recently released by the Network Audio-Visual Department of the National Radio and Television Administration pointed out that the number of micro-dramas with the entrepreneur group as the main character of the story is constantly increasing, and some works are liked by netizens after being broadcast. The above management tips pointed out that it is necessary to avoid being limited to love disputes and family disputes, and especially to prevent the promotion of a marriage and love view that seeks to attach oneself to the powerful, the wealthy, and the rich. It is required to strengthen the management of "Overbearing CEO" micro-dramas. (The Paper)
CKI: Will not comment on whether to acquire Thames Water in the UK, and will study any opportunities that are beneficial to the company's development
According to RTHK, in response to the report that "Cheung Kong Group is interested in acquiring Thames Water in the UK", a spokesperson for CKI said that they will not comment on the relevant report, but stated that they have always been studying any opportunities that are beneficial to the company's development and enhancing shareholder returns. The spokesperson referred to CKI's interim results report, mentioning that the group's financial foundation remains continuously strong and solid. By the end of June, it held HK$9.2 billion in cash, and the net debt ratio was at a healthy level of 9.8%, providing the group with financial flexibility to cope with various uncertainties in the market and support new acquisition opportunities. (Jiemian News)
Former Baidu Health President He Mingke and Former General Manager of Medical Business Zhang Yandong Resign
He Mingke, the former senior vice president of Baidu Group and the former president of Baidu Group's Health Care Group (HCG), resigned about a week ago. In addition, Zhang Yandong, the former general manager of Baidu Health's medical business, is also about to resign. His last working day at Baidu Group is December 16. More than a month ago, Baidu Group announced that the Health Care Group would be merged into the Mobile Ecosystem Group (MEG), and He Mingke's job was taken over by Yang Minglu, who was originally in charge of search and AI ecosystem business. (Economic Observer Network)
Huawei Publishes Patent for Cross-System Application Running, and the Relevant Patent Has Been Authorized
36Kr has learned that according to the Qichacha App, on November 26, Huawei Technologies Co., Ltd. disclosed "A Method for Running an Application Across Systems and an Electronic Device". This patent enables users to operate applications in the second software system without distinction on the first software system, enhancing the user experience. According to the manual of the relevant patent (Authorization Publication No. CN116775118B) with its priority number CN2022102306548, the patent background takes the electronic device equipped with the Android system and the Linux system as an example. The Android system can be used as its main system, and the Linux system can be used as its auxiliary system, where the Linux system can be installed in a virtual machine.
Dong Yuhui's Company Obtains a New License for Commercial Performances
36Kr has learned that according to the Qichacha App, recently, Yuhuitongxing (Beijing) Technology Co., Ltd. has obtained a new license for commercial performances. The permitted content is the approval for the establishment of a domestic performance brokerage agency. The validity period is from November 19, 2024, to November 18, 2026, and the licensing authority is the Beijing Municipal Culture and Tourism Bureau. Previously, this company has already obtained a license for the production and operation of radio and television programs. Qichacha shows that Yuhuitongxing (Beijing) Technology Co., Ltd. was established in December 2023 with a registered capital of 10 million Chinese yuan. Dong Yuhui is the legal representative and holds 100% of the shares. The change information shows that recently, Dong Yuhui was changed from the executive director to the director in this company.
Li Zhihong Steps Down from His Position at HYCAN Motors
36Kr has learned that according to Tianyancha App, recently, HYCAN Motors Technology Co., Ltd. has undergone industrial and commercial changes. Li Zhihong has stepped down as the legal representative and manager, and has been succeeded by Wang Huipu. HYCAN Motors Technology Co., Ltd. was established in April 2018, with a registered capital of approximately 5.523 billion Chinese yuan. It is jointly held by Guangdong Zhutou Intelligent Technology Investment Co., Ltd., GAC Aion New Energy Automobile Co., Ltd., GAC Group (601238), and others.
Hyundai Motor will invest nearly $480 million to build a factory in Malaysia to accelerate its layout in the Southeast Asian market
According to Hyundai Motor's news on November 26, the group will invest a total of 2.159 billion ringgit (approximately $480 million) in Kulim, Kedah, Malaysia from next year to 2030 to build an automotive assembly plant, which is the largest investment by Hyundai Motor in the country. The annual production capacity of the factory will gradually expand from 20,000 vehicles, and the vehicle models will include Genesis mid-to-large SUVs and MPVs, etc. The produced vehicles will not only supply the domestic demand market in Malaysia but also be exported to other Southeast Asian countries. (Jiemian News)
Zhang Qingsong Appointed as Chairman of China Investment Corporation
36Kr has learned that according to the official website of China Investment Corporation, the State Council has decided: Comrade Zhang Qingsong is appointed as the Chairman of China Investment Corporation, and Peng Chun is relieved of his position as the Chairman of China Investment Corporation.
JD.com: Some who spread rumors and smear JD.com have been punished by the public security organs
36Kr learned that the spokesperson of JD.com issued a statement saying that recently, a few institutions and individuals have spread rumors, smeared, and maliciously attacked JD.com and its founder and his family. Through the case handling of the public security organs in accordance with the law, some rumor spreaders have received the due punishment. Currently, there are still some rumors on the Internet that confuse the public. Relevant departments have filed cases for investigation. The Internet is not a place outside the law. It is hoped that everyone will work together to jointly create a clear and upright online space.
Meta, TikTok and Google Slam Australia's Social Media Ban for Under-16s
Global tech giants including Meta, TikTok and Google have strongly criticized Australia's legislation that prohibits children under the age of 16 from accessing social media platforms, and the government is attempting to push the bill through parliament this week. According to the proposed law, Australians under the age of 16 will be banned from registering accounts on all major social media websites, including Facebook, Instagram, Snapchat and Reddit, even if they have obtained their parents' permission. These social media giants will be responsible for enforcing this ban and will face fines of up to 50 million Australian dollars (equivalent to 32.5 million US dollars). (Sina Finance)
Itochu Corporation is reportedly interested in participating in the Seven & i Holdings acquisition plan
According to the Kyodo News Agency on November 25, at the request of the founding family of Seven & i Holdings, Japan's Itochu Corporation has begun to consider joining the acquisition plan for the company. Itochu owns FamilyMart convenience stores. Although the founders of Seven & i urgently need to secure funds, there are voices within Itochu that think investing is not a matter that can be easily decided, and coordination work may encounter obstacles. (Jiemian News)
France fines 5 companies including TotalEnergies for alleged energy efficiency certificate fraud
On November 26, French Energy Minister Olga Givernet said that the government will impose a total fine of 2.4 million euros on the energy efficiency certificate fraud of five companies. Givernet said that TotalEnergies, Dalkia, a subsidiary of EDF, Hellio Solutions, Sefe Energy and Teksial have abused energy-saving measures. TotalEnergies denies any fraud and said in a statement that it plans to appeal the fine to the French court. (Jiemian News)
Hi-P International Appoints Former Apple Supply Chain Executive as Independent Director
On November 26, Hi-P International announced the appointment of Duco Pasmooij, a former senior executive in Apple's supply chain, as an independent director of the company. Pasmooij took office on November 11. He is also the chairman of the newly established Technology, Transformation and Sustainability Committee of Hi-P International. Pasmooij worked at Apple for 21 years and was responsible for the company's supply chain department. (Jiemian News)
Koreans' Overseas Credit Card Consumption Reached $5.71 Billion in the Third Quarter, Hitting a Record High
Data released on Tuesday shows that Koreans' overseas credit card spending in the third quarter increased by more than 10% quarter-on-quarter, setting a new quarterly high. Part of the reason is the increase in the number of people traveling abroad during the summer vacation. According to the data from the Bank of Korea, from July to September, the amount that Koreans spent overseas using credit cards and debit cards reached $5.71 billion, an increase of 10.1% compared to $5.18 billion in the previous quarter. Compared with the same period last year, overseas credit card consumption in the third quarter increased by 19.1%. (Sina Finance)
The Japanese government sets a goal: Flexible photovoltaic cells to account for 10% of household electricity consumption by 2040
It is reported that for the flexible thin-film perovskite photovoltaic cells, the Ministry of Economy, Trade and Industry of Japan has set a government goal to introduce 20 gigawatt-hours by the fiscal year 2040, which is equivalent to the electricity consumption of approximately 5.5 million households. Japan strives to have perovskite cells provide about 10% of household electricity consumption. To achieve this goal, in addition to supporting the research on mass production technology, the Japanese government will also discuss plans to increase demand. Among Japan's renewable energy sources, photovoltaic power generation is the most widespread. The proportion of photovoltaic power in the power supply composition in the fiscal year 2023 is 9.8%, and the installed capacity as of the end of December 2023 is 73 gigawatts. If the current electricity demand is taken as a premise, the installed capacity target of perovskite cells in the fiscal year 2040 is equivalent to nearly 3% of the power supply. (Jiemian News)
Flex Completes $325 Million Acquisition of Crown Technical Systems
Flex announced that it has completed the previously announced all-cash acquisition of Crown Technical Systems for $325 million. Crown Technical Systems is a company focused on fully integrated power distribution and protection systems. For reporting purposes, Crown Technical Systems will be included in the industrial business unit of Flex's Reliability Solutions division. (Jiemian News)
Trump Announces 25% Tariffs on Goods from Mexico and Canada
On the 25th local time, the US President-elect Trump stated that a 25% tariff will be imposed on all products entering the United States from Mexico and Canada. Trump proposed a suggestion of a 10% general tariff on all imported goods in an interview last year. In November this year, a study by the National Retail Federation (NRF) pointed out that if Trump's new tariff plan is implemented, the annual spending power of American consumers could potentially lose up to 78 billion US dollars. The study indicates that these tariffs will affect consumer product categories such as clothing, toys, furniture, appliances, footwear, and travel supplies. (CCTV News)
Academician Wu Hequan of the Chinese Academy of Engineering investigates Du Xiaoman: The application of AI and intelligent agents in the financial field is still in its infancy
36Kr learned that on November 25, the "Zhongguancun Postdoctoral Academic Exchange Forum" was held at the headquarters of Du Xiaoman. Academician Wu Hequan believes that "The practical application of large models is moving from the model layer to AI Agent. Compared with large models, AI Agent does not rely on elaborately edited pre-trained data, solving the problem that large models are difficult to support the application of scenarios within enterprises, and is expected to become a powerful general problem-solving solution. If a large model is the operating system of a smartphone, then an intelligent agent is equivalent to the APP Store." Xu Dongliang, CTO of Du Xiaoman, revealed that since the release of the "Xuanyuan" financial large model last year, Du Xiaoman has open-sourced a full-parameter model matrix of up to 19, which can meet the needs of developers in different financial fields.
Hesai Technology: Revenue in the Third Quarter Reaches 540 Million Yuan, with a Year-on-Year Growth of 21.1%
36Kr has learned that Hesai Technology has announced its unaudited financial data for the third quarter of 2024. In the third quarter, Hesai Technology achieved a revenue of 540 million yuan, with a year-on-year growth of 21.1%. The total quarterly delivery volume of lidar reached 134,208 units, with a year-on-year growth of 182.9%; among them, the delivery volume of ADAS products was 129,913 units, with a year-on-year growth of 220.0%. The comprehensive gross margin of the ADAS business and the Robotaxi business in this quarter is 47.7%.
Zhihu's 2024 Q3 Financial Report: Revenue of 845 million yuan, Net Loss Decreased by 96.8% Year-on-Year
36Kr learned that on November 26, Zhihu released its third-quarter 2024 performance report. The financial report shows that Zhihu's revenue in the third quarter was 845 million yuan, and the net loss decreased by 96.8% year-on-year to 9 million yuan. It once again set the largest loss reduction and the lowest net loss in a single quarter since its listing, exceeding market expectations. Zhihu's AI search product, Zhihu Zhida, continued to maintain high growth in the third quarter, and a new "Professional Search" feature was launched at the end of October, entering a stage of expanding deeper search capabilities that are more professional and practical.
Chow Tai Fook: Revenue of HK$39.41 billion in the first half of the year, net profit of HK$2.53 billion
36Kr learned that Chow Tai Fook released the interim report for the fiscal year 2025. The financial report shows that the revenue in the first half of the year is HK$39.41 billion, with an estimated HK$39.4 billion; the net profit in the first half of the year is HK$2.53 billion, with an estimated HK$3.15 billion; the interim dividend per share in the first half of the year is HK$0.2.
"Hangxing Transmission" Completes Series A Financing
36Kr has learned that recently, "Hangxing Transmission" announced the completion of Series A financing. This round of financing is led by Shenzhen Capital Group, with the existing shareholders CSC Capital and Guoyi Capital making additional investments. This financing will be used to further introduce high-end R & D talents, enhance the core technology R & D capabilities; complete the construction of mass production capacity; and carry out the expansion of domestic and foreign markets.
Huawei Mate X6 Launches Three-Network Satellite Collector's Edition, First to Support Three-Network Satellite Communication
36Kr has learned that, according to Huawei Terminal, at the Huawei Mate Brand Gala on November 26, Yu Chengdong, Executive Director of Huawei, Chairman of the Terminal BG, and Chairman of the Intelligent Automotive Solution BU, delivered a speech. At the launch event, the new generation of dual-folding screen phone, Huawei Mate X6, was officially released. Yu Chengdong said that the Huawei Mate X6 Three-Network Satellite Collector's Edition is the world's first mass-market smartphone that supports three-network satellite communication, including Beidou Satellite Messaging, Tiantong Satellite Communication, and Low-Earth Orbit Satellite Internet. In the Low-Earth Orbit Satellite Internet system test, it is expected to start public beta testing in the second half of 2025.
OPPO Releases Reno13 Series, Starting from $392*
36Kr has learned that OPPO has released the Reno13 series. The new AI high-definition live photo supports editing functions, and for the first time, it realizes the mutual transmission, display, and editing with Apple iPhone iOS LivePhoto, which can be shared on multiple social platforms. In addition, the Reno13 series is also equipped with an exclusively customized self-developed network-grabbing chip X1, which improves the uplink and downlink capabilities of the mobile phone when connected to Wi-Fi. The OPPO Reno13 series starts from $392.
Arranged by | Cheng Jiahui
*Note: The conversion of 2699 yuan to US dollars is based on an approximate exchange rate and may vary.