Krypton Evening Post | Guizhou Moutai: The preliminary work for share repurchase is about to be completed; Ant Group established a technology company with 100 million yuan in Shanghai, including multiple AI businesses; Mixue Bingcheng responds to price hikes in multiple city stores: Changes in operating costs.

Big Companies:

Riders who overwork on deliveries may be forced to log out? Meituan: In the pilot stage, relevant rules will be announced after improvement

Recently, there is a rumored notice that in order to ensure safety, food delivery platforms will take mandatory offline measures for riders who have accumulated a long delivery time. A relevant person in charge of Meituan responded that there are indeed relevant measures. Meituan also disclosed in its third-quarter financial report this year that it has piloted an optimized fatigue management mechanism in some cities. When the rider APP detects that the rider has worked for too long, it will initially prompt the rider to rest. If the rider ignores it, the rider will eventually be forced to log out and rest. However, regarding the specific duration of the mandatory logout, Meituan said that the current plan is in the pilot stage, and the relevant rules will be announced after improvement. (The Paper)

Kweichow Moutai: The preliminary work of share repurchase is about to be completed

On December 17, Kweichow Moutai held the 2024 third-quarter performance briefing. Regarding the progress of the share repurchase issue, Jiang Yan, the company's deputy general manager, chief financial officer, and board secretary, said that this share repurchase is the company's first implementation of share repurchase. Currently, the company is about to complete the selection of professional intermediary agencies, the opening of a dedicated repurchase account, and other preliminary work. Once completed, the company will promptly disclose the repurchase report in accordance with relevant regulations and carry out the relevant work of share repurchase. (Jiemian)

Ant Group establishes a technology company with 100 million yuan in Shanghai, including multiple AI businesses

36Kr learned that the Tianyancha App shows that recently, Shanghai Ant Lingbo Technology Co., Ltd. was established, with Zhu Xing as the legal representative and a registered capital of 100 million yuan. Its business scope includes software development, Internet data services, intelligent robot sales, intelligent robot research and development, digital technology services, artificial intelligence basic software development, artificial intelligence application software development, artificial intelligence public service platform technical consulting services, artificial intelligence public data platform, artificial intelligence theory and algorithm software development, information system integration services, etc. Shareholder information shows that the company is wholly owned by Ant Intelligent (Hangzhou) Technology Co., Ltd., a subsidiary of Ant Group.

SoftBank is reorganizing its group's financial services around PayPay

PayPay, the main smartphone payment company under the SoftBank Group, announced that it will incorporate the Internet bank PayPay Bank as a subsidiary. SoftBank is reorganizing its group's financial services around PayPay, aiming to create synergy with its pillar telecommunications business. (Cailian Press)

FAW Jilin is in an operating predicament and has stopped production for several months

FAW Jilin Automobile Co., Ltd. has stopped production for several months. Many employees said that FAW Jilin has not paid wages since August, and they hope that the leaders of FAW Group will have a discussion with the employees and give corresponding solutions. People close to FAW Jilin believe that FAW Jilin's product research and development has not kept up with the market rhythm, and at the same time, its layout in the new energy field is slow. With the intensification of competition, FAW Jilin has fallen into an operating predicament. According to the official website information, the passenger vehicles sold by FAW Jilin include fuel vehicle products Hongyan and Hongyan Pro, and new energy products Senya Hongyi EV and Honghu (extended-range hybrid). (Yicai)

Mixue Bingcheng responds to price increases in multiple city stores: Changes in operating costs

On December 16, several Mixue Bingcheng stores in Guangzhou released an announcement on the mini-program stating, "Based on the store's operating conditions, starting from December 16, the store price of drinks (including ice cream series) for dine-in/mini-program App will increase by 1 yuan." It is learned from Mixue Bingcheng that the price increase involves some stores in Guangzhou, Shenzhen, and Beijing. The customer service of Mixue Bingcheng headquarters responded, "Comprehensively considering market factors and store operations, we have made a unified adjustment for products in individual regions, and the prices in other regions remain unchanged." Regarding whether there will be further adjustments and a return to the original price in the future, the official customer service of Mixue Bingcheng said that no notice has been received for the time being. (Nandu)

Chery Automobile establishes a new technology company with 16.5 million yuan, including solar power generation technology service business

36Kr learned that the Tianyancha App shows that recently, Wuhu Sanshan Economic Development Zone Ruisheng Technology Co., Ltd. was established, with Wu Changsheng as the legal representative and a registered capital of 16.5 million yuan. Its business scope includes solar power generation technology services, wind power generation technology services, energy storage technology services, energy conservation management services, contract energy management, operational efficiency evaluation services, new material technology research and development, resource recycling technology research and development. Shareholder information shows that the company is wholly owned by Anhui Chery Lvneng Ecological Technology Co., Ltd., a subsidiary of Chery Automobile.

OPPO applies for the One-Click Query Screen trademark

36Kr learned that the intellectual property information of Tianyancha shows that recently, OPPO Guangdong Mobile Communication Co., Ltd. has applied to register the trademarks "OPPO One-Click Query Screen" and "One-Click Query Screen", and the international classifications are all scientific instruments. The current trademark status is waiting for substantive examination. OPPO One-Click Query Screen is an integrated system-level AI function. Users can wake up the AI with one click and realize various operations such as image editing and question answering under voice commands.

Investment and Financing:

Avita secures over 11 billion yuan in Series C financing

It is learned from informed sources that Avita Technology, jointly created by Changan, Huawei, and CATL, will obtain over 11 billion yuan in Series C financing. On November 19, the capital increase project of Avita was listed on the Shanghai Equity Exchange, and the project listing expiration date is December 16. According to the announcement, the qualification requirements for the capital increase investor of the Avita capital increase project include: a single intended investor's proposed total investment is not less than 200 million yuan; the number of members in the consortium investment does not exceed 3, and the total contribution of the consortium is not less than 200 million yuan. This round of financing will accelerate and boost Avita's current operations and the continuous building of its core competitiveness in the new luxury segment. (Cailian Press)

Qinhuangdao Fuyingguan Technology Co., Ltd. obtains 30 million yuan in Series A financing

36Kr learned that Qinhuangdao Fuyingguan Technology Co., Ltd. has completed a financing of 30 million yuan, invested by Zhongliang Huatai Investment Co., Ltd. This financing will help Fuyingguan in technological innovation and market expansion in the field of Fuyingguan sea cucumber peptide.

New Products:

TSMC's 2-nanometer process technology details released: Performance jumps by 15%, power consumption reduces by 30%

At the IEEE International Electron Devices Meeting (IEDM) held in San Francisco, the global wafer foundry giant TSMC announced more details of its highly anticipated 2-nanometer (N2) process technology. According to the introduction, compared to the previous generation process, the N2 process has improved performance by 15% and reduced power consumption by up to 30%, significantly improving energy efficiency. In addition, thanks to the application of the surrounding gate (GAA) nanosheet transistor and the N2 NanoFlex technology, the transistor density has also increased by 1.15 times. The N2 NanoFlex technology allows manufacturers to integrate different logic units in the smallest area, further optimizing the performance of the process. The price of the N2 process wafer will be more than 10% higher than that of the 3-nanometer process. (Cailian Press)

iFLYTEK launches the new generation AI voice recorder S8 offline version

36Kr learned that iFLYTEK has launched the new generation AI voice recorder flagship product S8 offline version. According to the official introduction, this voice recorder adopts a hardware design without a network module, combined with iFLYTEK's unique offline recording, text conversion, translation and other functions. Currently, the product has been officially launched.

Today's Views:

Institution: The GB200 cabinet supply chain still needs time for optimization, and it is expected that there will be an opportunity for volume expansion at the earliest after the second quarter of 2025

36Kr learned that TrendForce Jibang Consulting pointed out in the latest survey that the recent market is paying attention to the supply progress of various items of NVIDIA's (Nvidia) GB200 whole cabinet solution (Rack). Due to the design specifications of the GB200 Rack in the high-speed interconnection interface and thermal design power (TDP) being significantly higher than the market mainstream, supply chain players need more time for continuous adjustment and optimization. It is expected that there will be an opportunity for volume expansion at the earliest after the second quarter of 2025.

CITIC Securities: In 2025, the opportunities in the Internet sector outweigh the risks. Pay attention to the competitive landscape and profit resilience

36Kr learned that the research report of CITIC Securities pointed out that looking forward to 2025, the overall upward opportunities in the Internet sector outweigh the downward risks. Currently, the sector's performance expectations, valuations, and the proportion of foreign holdings are at historically low levels. The strengthening of share buybacks will continue to increase the EPS of Internet companies, providing a strong margin of safety. And the positive changes in macro policies will bring a double boost of performance and valuation to the sector, providing a larger upside potential. CITIC Securities believes that pro-cyclical sectors such as e-commerce, local life services, travel, freight transportation, online recruitment, and real estate service platforms will benefit significantly. Targets with a stable pattern and performance certainty will enjoy valuation premiums.

Other News Worth Noting:

The EU launches a space program of approximately 10 billion euros to compete with Musk's Starlink

According to a report by The Guardian on December 16 local time, the EU has launched a space program of approximately 10 billion euros (approximately 76.67 billion yuan), which includes the launch of 290 satellites, aiming to compete with SpaceX founder Elon Musk's Starlink to ensure the security of EU governments and militaries. (The Paper)

The State-owned Assets Supervision and Administration Commission of the State Council issues the "Several Opinions on Improving and Strengthening the Market Value Management Work of Central Enterprise Holding Listed Companies"

36Kr learned that the State-owned Assets Supervision and Administration Commission of the State Council has issued the "Several Opinions on Improving and Strengthening the Market Value Management Work of Central Enterprise Holding Listed Companies". The "Opinions" propose that central enterprises should improve and strengthen the market value management work of holding listed companies from six aspects: mergers and acquisitions, market-oriented reforms, information disclosure, investor relations management, investor returns, and share buybacks and holdings. Support holding listed companies to carry out mergers and acquisitions around improving the competitive advantage of the main business, enhancing the ability of scientific and technological innovation, and promoting industrial upgrading; Guide holding listed companies to increase the intensity of market-oriented reforms from aspects such as improving corporate governance and standardizing the implementation of equity incentives to stimulate the vitality of listed companies; Urge holding listed companies to comprehensively improve the quality of information disclosure, improve the ESG management system, strengthen the collection and research of public opinion information, and effectively maintain the corporate image and brand reputation; Guide holding listed companies to strengthen investor communication through multiple channels and forms to enhance market recognition; Guide holding listed companies to firmly establish the awareness of investor returns, increase the frequency of cash dividends, optimize the rhythm of cash dividends, and increase the proportion of cash dividends; Promote central enterprises and holding listed companies to establish a regular share buyback and holdings mechanism, standardize the reduction behavior, and actively solve the problem of long-term net asset value breakage of holding listed companies.