8:01 AM | Pangdonglai compensates the employee who was slapped by a customer with 30,000 yuan; TikTok requests the US Supreme Court to block the "Ban if not sold" bill; The stay time for foreigners with visa-free transit is extended to 240 hours.
TOP3 Big News
Pang Donglai Issues Announcement Stating to Protect Employees' Dignity, Employee Compensated 30,000 Yuan after Being Slapped by Customer Multiple Times
According to the Daily Economic News report, on December 17, Yu Donglai issued the implementation announcement of Pang Donglai's compensation standard for personal dignity: "When personal dignity is violated, each of us should have the awareness and courage to take legal measures to safeguard our own legitimate rights and interests, actively pursue corresponding responsibilities, and not be allowed to sign a letter of understanding easily. At the same time, we should actively apply to the company for compensation for the violation of personal dignity. The management must correctly guide and encourage, and the store manager should communicate and guide the parties concerned. If necessary, a professional mental health counselor should be invited to conduct psychological counseling to reduce the psychological harm to employees after their personal dignity is violated."
From the implementation situation, when the personal dignity of employees is violated, the compensation given by Pang Donglai ranges from 2,000 yuan to 30,000 yuan. Among them, the highest compensation of 30,000 yuan occurred in the supermarket of Yuzhou Store. At that time, when the supermarket employee was preventing further conflicts between customers, one of the customers slapped the employee, hit the employee's head with a mobile phone multiple times, and scratched the employee's hand; when the employee took the violent customer to the office area to wait for the police to arrive, the violent customer slapped the employee twice again and hit the employee's head with a mobile phone. The announcement stated that in accordance with the compensation standard for the violation of personal dignity in the "Reward Project" of the Pang Donglai Supermarket Department in Xuchang City, 30,000 yuan will be compensated for this serious incident. (Daily Economic News)
TikTok Submits Urgent Request to the US Supreme Court, Seeking to Delay and Block the "Ban If Not Sold" Act
On December 16 local time, TikTok announced that it has submitted an urgent request to the US Supreme Court, seeking the court to prevent the "Ban If Not Sold" Act. The documents show that TikTok and ByteDance are calling on the US Supreme Court to rule on its request to delay the implementation of the "Ban If Not Sold" Act by January 6 next year.
On the 13th of this month, the US Court of Appeals for the District of Columbia Circuit rejected TikTok's previously applied temporary restraining order. Earlier, TikTok submitted an emergency motion to prevent the "Ban If Not Sold" Act. (Jiemian News)
The National Immigration Administration: The stay time for foreigners with transit visa exemption is extended to 240 hours
The National Immigration Administration issued an announcement on December 17. From now on, the transit visa exemption policy will be comprehensively relaxed and optimized. The stay time for foreigners with transit visa exemption in China is extended from the original 72 hours and 144 hours to 240 hours (10 days). At the same time, 21 new ports are added as entry and exit ports for transit visa exemption personnel, and the stay activity area is further expanded. (Xinhua News Agency)
Big Companies/Big Events
Alibaba Sells Its Stake in Intime, Youngor Responds
36Kr learned that Alibaba announced that the company and another minority shareholder agreed to sell 100% of the equity of Intime to a purchasing consortium composed of Youngor Group and members of the Intime management team. The total proceeds from Alibaba's sale of Intime are approximately RMB 7.4 billion, and it is expected to record a loss of approximately RMB 9.3 billion due to the sale of Intime.
According to a report by Meijing News, in response to taking over Intime Department Store, the Youngor side responded that Youngor Group (Ningbo) Co., Ltd. has always focused on investment and development in the fashion field. Its listed company, "Youngor Fashion Co., Ltd.," is even more committed to the operation of the fashion industry. This time, the group and the Intime management jointly invest in Intime, aiming to "strengthen and complement the industrial chain" and improve the fashion ecosystem. After the investment is completed, Youngor Group will give the Intime management team sufficient operational space to support Intime's further high-quality development. (36Kr, Meijing News)
Meituan Responds to "Riders Who Excessively Take Orders Will Be Forcibly Logged Out": In the Pilot Program, Relevant Rules Will Be Announced After Perfection
Recently, there is a rumored notice that in order to ensure safety, the food delivery platform will forcibly log out riders who have accumulated a long working time. The 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 been working for too long, it will initially prompt the rider to rest. If the rider ignores it, the rider will eventually be forcibly logged out and required to rest. However, regarding the specific duration of the forced logout, Meituan said that the current plan is in the pilot program, and the relevant rules will be announced after being perfected. (The Paper)
Mixue Bingcheng Responds to Price Increases in Multiple City Stores: Changes in Operating Costs
On December 16, several Mixue Bingcheng stores in Guangzhou posted announcements on the mini-program stating, "Based on the store's operating conditions, starting from December 16, the store price for dine-in / drinks (including the ice cream series) on the 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 certain areas in 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, while the prices in other regions remain unchanged."
In response to 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. Some consumers believe that a 1-yuan price increase is acceptable, but they hope it will not increase any further. Industry insiders said that at a time when costs in the upstream, downstream, and supply chain are rising, a price increase is a normal business practice. (Southern Metropolis Daily, CBN)
ByteDance Denies Forming a New Brand with ZTE
In response to the rumor that the Doubao large model is collaborating with ZTE mobile phones, the relevant person in charge of Doubao responded that the news is untrue. The Doubao large model has had in-depth cooperation with many mobile phones, but it has not discussed the possibility of establishing a new brand with ZTE, and there is no relevant cooperation on chips. (Cailian Press)
The three major U.S. stock indexes closed lower collectively, with the Dow Jones Index recording the longest consecutive decline in nearly half a century.
36Kr learned that as of the close on December 17, the three major U.S. stock indexes collectively declined. The Nasdaq Index dropped by 0.32%, the S&P 500 Index fell by 0.39%, and the Dow Jones Index decreased by 0.61%. Among them, the Dow Jones Index recorded a nine-day consecutive decline, marking the longest consecutive decline since February 1978. Most large technology stocks declined. Intel and NVIDIA dropped by more than 1%, while Netflix, Google, Amazon, and Meta declined slightly. Tesla rose by more than 3%, and Apple and Microsoft increased slightly. Popular Chinese concept stocks generally rose. Bilibili, Futu Holdings, and Tencent Music all increased by more than 4%, XPeng Motors rose by more than 3%, and Pinduoduo, Baidu, NIO, and Li Auto rose by more than 2%. Alibaba and JD.com increased by more than 1%.
Wang Sicong plans to open 100 steak restaurants next year, with a franchise fee of 49,800 yuan.
Recently, a freshly baked beef jerky specialty store named "Principal Niu" opened in the Wangjing Business District in Beijing. This store is a brand founded by Wang Sicong, and it is deeply associated with Wang Sicong in terms of both the background capital and publicity. Tianyancha shows that the Principal Niu brand belongs to Beijing Principal Niu Catering Service Co., Ltd., with the major shareholder, Beijing Huanju Business Management Co., Ltd., holding a 35% stake, and the chairman of Huanju Business Management is precisely Wang Sicong.
According to the official Douyin account, the operational strategy of "Principal Niu" is to use the idea of "making luxury goods" to make steak fast food, aiming to offer a steak + spaghetti + soup set at a low price of 20 yuan. And it plans to open 100 stores in the first quarter of 2025. The Blue Whale News reporter contacted the brand side of "Principal Niu", and the other party stated that the current franchise fee is 49,800 yuan. (Blue Whale News)
BYD Selects 6 Korean Companies as Local Dealers
The subsidiary of BYD in South Korea stated on December 17 that before BYD plans to enter the South Korean passenger electric vehicle market, the company has finalized its dealer partners in South Korea. BYD Korea said that it has selected six South Korean companies, including Samchully EV, DT Networks, Harmony Automobile, Vision Mobility, etc., as South Korean dealers. The selected partners will be responsible for the sales and customer service of BYD passenger vehicles, and the company will officially launch passenger vehicle electric models in South Korea early next year. (Sina Finance)
Huawei's Vehicle Business Unit is planned to be merged into Yinwang on January 1, 2025.
It is learned from several informed sources that Huawei's Vehicle Business Unit is expected to be merged into Yinwang on January 1, 2025, with a scale of several thousand people. Currently, Changan Automobile and SERES have respectively purchased a 10% stake in Yinwang Company held by Huawei for 11.5 billion yuan. It is understood that Huawei's Vehicle Business Unit is currently in a period of rapid business growth, and future contracts will be in the form of Yinwang. (Caixin News Agency)
Chery Automobile Establishes New Technology Company with 16.5 Million, Including Solar Power Generation Technical Service Business
36Kr learned that the Tianyancha App shows that recently, Wuhu Sanshan Economic Development Zone Risheng Technology Co., Ltd. was established. The legal representative is Wu Changsheng, with a registered capital of 16.5 million Chinese yuan. The business scope includes solar power generation technical services, wind power generation technical services, energy storage technical services, energy-saving management services, contract energy management, operational efficiency evaluation services, new material technology research and development, and resource recycling technology research and development. Shareholder information shows that the company is wholly owned by Anhui Chery Green Energy Ecological Technology Co., Ltd., a subsidiary of Chery Automobile.
Haima Automobile: Currently carrying out multi-field and multi-type external cooperation including hydrogen fuel cell vehicles, etc.
36Kr learned that Haima Automobile stated on the interactive platform that regarding external cooperation, the company always holds a positive and open attitude. While implementing the existing business, the company utilizes its own resources to actively communicate with various partners, seeking and striving for more cooperation and win-win situations, and endeavoring to improve business performance. Currently, the company is carrying out multi-field and multi-type external cooperation including hydrogen fuel cell vehicles, processing business, mobility business, etc.; subsequently, the company will continue to strive for more cooperation to be implemented.
FAW Jilin Falls into Operational Difficulties and Has Been Shut Down for Several Months
According to Yicai, FAW Jilin Automobile Co., Ltd. has been shut down for several months. Multiple employees stated that FAW Jilin has not paid wages since August, and they hope that the leaders of FAW Group will hold a discussion with the employees and provide a corresponding solution. 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 operational difficulties. The official website information shows that the passenger vehicles sold by FAW Jilin include the fuel vehicle products Hongyan and Hongyan Pro, and the new energy products Senya Hongyi EV and Honghu (Extended Range Hybrid). (Yicai)
UnionPay International Cooperative Wallets Abroad Can Scan WeChat Pay QR Codes for Payment in China
It was learned on December 17 that UnionPay International will cooperate with WeChat Pay to support UnionPay International cooperative wallets abroad to scan WeChat Pay QR codes for payment in China. Eight wallets, including BoC Pay of Bank of China (Hong Kong) in Hong Kong, China, Octopus, PayMe by HSBC, Tap & Go, Bangkok Bank Mobile Banking in Thailand, K PLUS, NAVER Pay in South Korea, and ICBC Mobile Banking (ICBC Pay) in Malaysia, are the first to launch this function, further enriching the mobile payment options for foreigners coming to China. (21st Century Business Herald)
Baidu Responds to Entering the Field of Short Dramas: It Is a Key Development Direction of the Current Content Ecology
Intellectual property information from Tianyancha shows that recently, Baidu Online Network Technology (Beijing) Co., Ltd. applied to register the trademark "Baidu Short Drama", with the international classification of website services, scientific instruments, and education and entertainment. Currently, the trademark status is awaiting substantive examination. In response, a relevant person in charge of Baidu said that short dramas are a key development direction of the current content ecology. Currently, the Baidu Short Drama platform has gathered more than 24,000 short dramas. In 2025, it will undergo a new upgrade in five aspects: distribution, revenue sharing, rewards, exclusive broadcasting, and investment promotion. (Sina Technology)
Has Yao Song, Co-founder of Commercial Aerospace "Unicorn" Orienspace, Resigned? Insiders: Still Employed
Recently, there are market rumors that Yao Song, the co-founder and co-CEO of the commercial aerospace enterprise Orienspace, has resigned. On December 17, it was learned from an insider that Yao Song has not resigned and is still the co-founder and co-CEO of Orienspace. Orienspace was established in 2020 and is a launch vehicle and aerospace information application company. (Jiemian News)
TSMC's 2-Nanometer Process Technology Details Revealed: Performance Jumps by 15%, Power Consumption Reduces by 30%
At the IEEE International Electron Devices Meeting (IEDM) held in San Francisco, the global foundry giant TSMC disclosed more details of its highly anticipated 2-nanometer (N2) process technology. It is reported that compared with the previous generation process, the N2 process has improved performance by 15%, reduced power consumption by up to 30%, and significantly enhanced energy efficiency. In addition, thanks to the application of the Gate-All-Around (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 N2 process wafers will be more than 10% higher than that of the 3-nanometer process. (Caixin)
Porsche Responds to Layoffs in China Region
On December 17, regarding the rumors that Porsche plans to lay off employees in the China region and related information, Porsche responded that it is not true. Facing the complex market environment, Porsche is optimizing and restructuring its internal organizational structure. Porsche China is continuously improving the efficiency of various departments and projects and optimizing costs. According to the actual situation, relevant measures will also involve indirect and direct labor costs.
Previously, according to reports from multiple media outlets, the luxury car brand Porsche has started layoffs in the China region, including formal and outsourced positions, and the compensation may be implemented according to the standard of N + 6. Porsche internal employees claim that the situation is true, and the company plans to lay off 30% of its staff. (China Business News, Jiemian News)
The Lock Screen Volume Adjustment Slider Quietly Returns on Apple iOS 18.2
On December 16, it is reported that Apple has quietly brought back a lock screen feature that was removed two years ago in iOS 18.2 - the volume adjustment slider in the media player control area. After Apple released iOS 16 in 2022, Apple also quietly "eliminated" this feature without giving a clear explanation, which once caused confusion among many users. Currently, the volume adjustment slider restored in iOS 18.2 is hidden in the "Accessibility" option, and users can choose to turn it on or off by themselves. (ITHome)
Meta Fined €251 Million by Irish Regulatory Authority for Data Breach
The Data Protection Commission of Ireland announced the investigation results and final decision on Meta Ireland on December 17. The agency said that the previous data breach of Meta affected about 29 million Facebook accounts globally, of which about 3 million accounts were located in the EU/European Economic Area. The leaked information included users' names, emails, phones, etc. Therefore, the Data Protection Commission of Ireland decided to impose an administrative fine of €251 million on Meta. (Jiemian News)
UK wage growth accelerates for the first time in a year, weakening expectations of a rate cut
UK wage growth has accelerated for the first time in more than a year, prompting traders to reduce their bets on a rate cut by the Bank of England. The UK Office for National Statistics said on Tuesday that in the three months to the end of October, wage growth excluding bonuses accelerated to 5.2%, driven by a surge in private sector wages. This is the first acceleration in growth since August 2023 and is higher than the 5% expected by economists. After the release of the surprising data, the money market unwound rate cut bets. (Sina Finance)
Morgan Stanley is reportedly providing a special loan for SpaceX employees with shareholdings
According to a report by Bloomberg cited by Jiemian News, as SpaceX's valuation reaches a record of approximately $350 billion, Elon Musk's personal net worth has reached a new high, and Morgan Stanley will also benefit from it. Insiders revealed that Morgan Stanley has opened a dedicated loan program for SpaceX employees who wish to cash out when SpaceX's stock price soars but do not want to lose their equity. Some of them said that employees need at least $500,000 worth of vested SpaceX stocks to participate. (Jiemian News)
The Forefront of AI
Ant Group Sets Up a Technology Company with 100 Million Yuan in Shanghai, Involving Multiple AI Businesses
36Kr learned that the Tianyancha App shows that recently, Shanghai Ant Lingbo Technology Co., Ltd. was established. The legal representative is Zhu Xing, with a registered capital of 100 million Chinese yuan. The business scope includes software development, Internet data services, sales of intelligent robots, research and development of intelligent robots, digital technology services, basic artificial intelligence software development, artificial intelligence application software development, technical consulting services for artificial intelligence public service platforms, artificial intelligence public data platforms, artificial intelligence theory and algorithm software development, information system integration services, etc. Shareholder information shows that the company is wholly owned by Ant Intelligence (Hangzhou) Technology Co., Ltd., a subsidiary of Ant Group.
CITIC Construction Investment: Focus on End-side AI Opportunities and Industrial Changes Brought by ASIC
36Kr has learned that the research report of CITIC Construction Investment indicates that based on the recent financial reports of overseas technology companies, the demand and outlook for computing power remain strong, and the development of AI applications exceeds expectations. We firmly recommend companies related to the computing power sector. Ultra-large-scale customers are actively deploying in ASIC, which will further expand the market size. Pay attention to the possible industrial changes it may bring. The development of the end-side AI industry is accelerating. ChatGPT is fully integrated into Apple. Next week, Volcano Engine will hold the 2024 Winter Volcano Engine FORCE Prime Mover Conference. It is recommended to pay attention to AI module opportunities. Through AI module products with the functions of "end-side computing power + communication + API", the capabilities of large models can be directly brought into various terminal devices, thereby turning them into "AI terminals".
OpenAI Opens Fully Functional o1 Model API with 60% Cost Reduction
On the early morning of December 18, OpenAI launched the 9th day of its technical sharing live stream, officially releasing the API of the o1 model, and significantly upgrading the real-time API to support WebRTC. Compared to the previous preview version, the thinking cost of the o1 model's API has decreased by 60%, and it comes with advanced visual functions; the audio cost of GPT-4o has decreased by 60%, and the price of the mini version has dropped by a factor of 10. At the same time, OpenAI has also released a new preference fine-tuning method. Through the direct preference optimization algorithm, the large model can better grasp the user's preference style. (Yicai)
Investment and Financing
Avita Secures Over 11 Billion Yuan in Series C Financing
It is learned from informed sources that Avita Technology, jointly established by Changan, Huawei, and CATL, will obtain more than 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 expiration date of the project listing is December 16. According to the announcement, the qualification requirements for the capital increase of Avita include: a single intended investor's proposed total investment is not less than 200 million yuan; the number of members in a 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 future core competitiveness in the new luxury segment. (Cailian Press)
The pathological AI platform "Shuda Technology" under 3D Medicines Diagnostics has completed an angel round financing of nearly ten million yuan
Recently, the pathological AI platform Shanghai Shuda Technology under 3D Medicines Diagnostics has completed an angel round financing of nearly ten million yuan, led by Mua Hua Ke Chuang, with Lan Shang Ting Xiu and Tong Yang Fund as co-investors. The funds will be invested in the research and development and commercial operation of related products of Shuda Technology. Shuda Technology was established in 2023 and is an innovative pathological AI platform incubated by 3D Medicines Diagnostics. (Artery Network)
Qinhuangdao Fuyingguan Technology Co., Ltd. Obtains 30 Million Yuan in Series A Financing
36Kr has learned that Qinhuangdao Fuyingguan Technology Co., Ltd. has completed a financing of 30 million yuan, which is 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.
Cool Products
The new-generation AI voice recorder S8 offline version launched by iFLYTEK
36Kr has learned that iFLYTEK has launched a new flagship AI voice recorder product, the S8 offline version. According to the official introduction, this voice recorder adopts a hardware design without a network module, combining iFLYTEK's unique offline recording, text conversion, translation and other functions. Currently, this product has been officially launched on the market.
HouseMate OS Launches PAI Assistant Home
36Kr has learned that recently, HouseMate OS, a product of Joyoful Company, has released a new product, PAI Assistant Home. Its core function is "Seamless Cross-Platform Integration". Users do not need to frequently switch between multiple AI platforms. The PAI Assistant can invoke different AI services with one click, such as ChatGPT, ERNIE Bot, etc., to achieve efficient management and personalized services. Users can also create a unique AI agent according to their individual needs.
Organized by | Yu Yaoming