8:01 AM | Apple is reported to be in talks with Tencent and ByteDance for AI model cooperation; A 5-million-follower internet celebrity with an income of over 10 million yuan evaded 1.21 million yuan in taxes; Due to the Fed's interest rate cut, Tesla lost 960 billion yuan overnight.
TOP3 Big News
Apple Reportedly in Talks with Tencent and ByteDance for AI Model Cooperation: Tencent Declines to Comment, ByteDance Has No Response Yet
According to reports, several informed sources have revealed that Apple is in discussions with Tencent and ByteDance to integrate their artificial intelligence models into iPhones sold in China. Apple began integrating OpenAI's ChatGPT into its devices this month, and Siri can invoke ChatGPT, but ChatGPT is not available in China. It is understood that the discussions between Apple and Tencent and ByteDance on using their artificial intelligence models are still in a very early stage. On December 19, in response to this news, Tencent told Pengpai News reporters: "No comment." ByteDance has not responded yet. (Jiemian News, Pengpai News)
A 5-million-follower internet celebrity with an income of over 10 million yuan evaded taxes of 1.21 million yuan, and the declared individual income tax income was less than 5,000 yuan.
According to the news from the State Taxation Administration on December 18: The First Inspection Bureau of the Xiamen Taxation Bureau has dealt with the tax evasion case of the online streamer Cheng Hu in accordance with the law. After investigation, Cheng Hu (online nickname: Xiaocheng in Xiamen, with 5 million followers), from 2020 to 2022, personally engaged in online live-streaming to sell goods on a commission basis and obtained commission income. He also established an individual business to engage in online live-streaming for commodity sales and obtained business income. He concealed his income through methods such as receiving payments in his personal account, failed to declare and pay taxes in accordance with the law, and underpaid taxes such as individual income tax and value-added tax totaling 1.2113 million yuan.
It is reported that Cheng Hu's income from live-streaming with goods for three years exceeded 10 million yuan (3.5289 million yuan in commission income for carrying goods, and 7.4985 million yuan in commodity sales income for the individual business). Surprisingly, the income declared for individual income tax did not reach the 5,000-yuan threshold. The accounts were in chaos, attempting to evade tax payment. The First Inspection Bureau of the Xiamen Taxation Bureau, in accordance with relevant laws and regulations, has recovered the taxes and fees from Cheng Hu, imposed late payment fees and fines, totaling 1.99 million yuan. (Beijing Youth Daily)
Affected by the Fed's interest rate cut, Tesla's market value evaporated by 960 billion yuan overnight.
According to CCTV Finance and Economics, on Wednesday local time, the Federal Reserve announced an interest rate cut of 100 basis points for the whole year, but at the same time released an "hawkish" signal that exceeded market expectations, significantly lowering the expected number of interest rate cuts next year. This significantly suppressed market risk appetite, and the three major U.S. stock indexes fell sharply across the board on the same day. By the close, the Dow Jones Industrial Average fell 2.58%, the S&P 500 Index fell 2.95%, and the Nasdaq Composite Index fell 3.56%.
According to Zhongwang Information, as the leader in the new energy vehicle industry, Tesla's stock price plunged by more than 8% after the announcement of this interest rate cut, and its market value evaporated by about 131.5 billion U.S. dollars (approximately 962.5 billion yuan) overnight. This decline not only made Tesla the stock with the highest trading volume in the U.S. stock market on that day, but also raised widespread concerns in the market about its future development. (CCTV Finance and Economics, Zhongwang Information)
Big Companies/Big Events
Ant Group: Currently, there is no listing plan, and there is no so-called "backdoor listing"
36Kr has learned that Ant Group clarified on its official Weibo that recently, it has noticed that some institutions have claimed on multiple platforms that "Ant Group is about to be backdoor listed, and they have internal information", and use this to induce netizens to join groups to obtain recommended stock information. Currently, Ant Group has no listing plan, and there is no so-called "backdoor listing".
Tesla's Shanghai Gigafactory will be taken over by Fei Wenjin, while the former factory director Song Gang will join Envision Energy
Exclusive from 36Kr, Song Gang, the former Vice President of Manufacturing at Tesla and the former factory director of the Shanghai Gigafactory who resigned recently, will join Envision Energy, an energy company focused on the integration of wind turbines and energy storage systems, in a few weeks at the earliest. The position of the factory director of Tesla's Shanghai Gigafactory will be succeeded by Fei Wenjin, the Senior Director of Vehicle and Parts Quality. The position of the factory director of Tesla's Shanghai Gigafactory is one of the key positions in Tesla's China system, overseeing the Phase 1 and Phase 2 factories, as well as the battery and motor factories in Shanghai. Except for the supply chain directly managed by Tesla's US headquarters, the rest of the manufacturing-related businesses are managed by the factory director.
CATL Considers Listing in Hong Kong to Raise at Least $5 Billion
36Kr has learned that, according to reports, it is said that CATL is considering listing in Hong Kong as soon as 2025 to raise at least $5 billion. There is no response from CATL officials for the time being. According to informed sources, CATL is still in the consideration stage, and the plan may be adjusted according to the market situation and the company's strategy. A secondary listing also needs to be approved by the Chinese securities regulatory agency, so the specific listing time is still uncertain. (36Kr, IT Home)
The Aftermath Handling of Jiyue Employees Exposed: Baidu and Geely Assist with Funding, and the Government Sets up a Co-managed Account
36Kr has learned that on December 19, a photo of a document regarding the aftermath handling plan for Jiyue employees was exposed online. The document shows that under the guidance and witness of the relevant government departments, a regulatory co-managed account will be established to pay the relevant expenses for the employees on behalf of Jiyue, and the advance funds will be injected by Baidu and Geely. The exposed aftermath handling plan specifically involves four aspects: 1. Economic compensation: Economic compensation will be provided according to the "N + 1" standard. 2. Salary, social insurance, and provident fund: Salaries will be settled until December 20, 2024. 3. Special placement: For employees in the "three periods" (pregnancy, maternity, and lactation), work-related injury, and medical treatment periods, the job positions will be retained in principle until the corresponding situations end. 4. Implementation method and time: Under the guidance and witness of the relevant government departments, a regulatory co-managed account will be established to pay the salaries and economic compensation on behalf of the company before January 20, 2025, and the advance funds will be injected by Baidu and Geely.
The three major U.S. stock indexes closed with mixed results, and large technology stocks also had mixed performances.
36Kr learned that as of the close on December 19, the three major U.S. stock indexes closed with mixed results. The Dow Jones Industrial Average rose 0.04% to end a 10-day losing streak, the Nasdaq Composite Index fell 0.1%, and the S&P 500 Index fell 0.09%. Large technology stocks had mixed performances. Netflix, NVIDIA, and Amazon rose by more than 1%, and Apple and Google rose slightly; Intel fell by more than 1%, and Tesla, Meta, and Microsoft fell slightly. Popular Chinese concept stocks also had mixed performances. Li Auto and 36Kr rose by more than 2%, Bilibili, NIO, and Xpeng Motors rose by more than 1%; Baidu fell by more than 3%, iQIYI, Weibo, JD.com, and MINISO fell by more than 1%.
The President of Volcano Engine Responds That ByteDance's Large Model Is 80% Cheaper Than Its Peers
According to The Paper, on December 18, at the Volcano Engine Force Conference held on the same day, ByteDance once again launched a price war: It released the Doubao Visual Understanding Model, with an input price of only 0.003 yuan per thousand tokens, and one yuan can process 284 720P images, which is 85% cheaper than the industry price. Tan Dai, the president of Volcano Engine under ByteDance, mentioned the current situation of the large model industry and said that the market needs full competition, and reducing costs is the result of technological optimization. Only by doing the best can one survive. When it comes to market competition, he frankly said, "The reason why enterprises use Doubao more is because of the better user experience, rather than not having tried other products. This market is to have full competition. The most crucial thing is whether one can do their own things well, whether one can lower the cost, and whether one can do a good job in the practical application of the solution." (The Paper)
WeChat Gray Test for Gift-Sending Feature: Commodity Price Limited to 10,000 Yuan, Does Not Support Jewelry and Education & Training Stores
According to the Beijing Business Today report, WeChat Mini Stores have begun a gray test of the "Send Gift" feature. Except for jewelry and education and training categories, and the original price of the commodity style should not be higher than 10,000 yuan, the commodity will default to supporting the "Send Gift" feature. According to the rules, if the commodity/store meets the rules, the "Send Gift" feature will be automatically enabled, and the commodity details page will display the "Supports Sending Gifts" entry. Users can click "Send to Friend" to pull up the "Confirm Gift" page, where they can select the style and browse the amount. On the "Send Gift" page, select a friend and complete the payment, and the gift will be automatically sent. The recipient clicks on the gift message in the chat, fills in the shipping address and "Accept the Gift", which means officially accepting the gift. Before accepting the gift, the recipient can choose to change to other styles of the same price under the same commodity.
It is worth noting that when the sender sends a gift, there is no need to fill in the shipping address, and the shipping address will be filled in by the recipient when the gift is accepted. Only one commodity can be sent to one friend at a time, and after sending, it is not supported to transfer the gift to other friends. Once the gift is sent (based on the successful sending of the gift message to the recipient), regardless of whether the friend accepts the gift or not, the sender cannot actively cancel the gift or the order within 24 hours. If the friend does not accept the gift within 24 hours (based on opening the gift message and touching "Accept the Gift"), the order will be automatically canceled and the refund will be returned to the sender according to the original channel of the order payment. (Beijing Business Today)
JD Pay Announces: Future transaction fees are at least 20% lower than WeChat Pay
On December 19, Cailian Press. At the JD Supply Chain Finance Technology Service Trade Industry Conference held in Suzhou, JD Pay is committed to achieving transaction fees that are at least 20% lower than WeChat Pay. At the same time, it will invest 1 billion yuan in marketing expenses to help partners reduce costs and increase efficiency. It is reported that this price reduction will be benchmarked against the actual transaction price of the corresponding platform. (Cailian Press)
Hon Hai is reportedly not giving up on acquiring Nissan's equity, and Liu Yangwei sent Kwan Jun to France to hold talks with Renault
According to Taiwanese media reports, Hon Hai intends to acquire a portion of Nissan's equity. Industry insiders revealed on the 19th that Hon Hai Chairman Liu Yangwei authorized Kwan Jun, the electric vehicle strategy chief with a Nissan background, to handle the operation. In fact, Kwan Jun previously inquired about Nissan but was not approved. Currently, he is in France negotiating with Nissan's major shareholder Renault about the willingness to release shares. Industry insiders said that Nissan will hold a board meeting next Monday (the 23rd) to decide whether to approve the memorandum of understanding (MOU) for the merger with Honda, and the result will affect Hon Hai's plan to acquire Nissan's equity. (Jiemian News)
How is the progress of the price commitment consultation on the anti-subsidy case of electric vehicles between China and the EU? Response from the Ministry of Commerce
On the afternoon of December 19, the Ministry of Commerce held a regular press conference. A media asked that what is the current progress of the price commitment consultation on the anti-subsidy case of electric vehicles between China and the EU? Whether the two sides intend to conduct a new round of consultations in the near future and is there a specific timetable? In response, He Yongqian, the spokesperson of the Ministry of Commerce, said that China has always advocated resolving trade frictions through dialogue and consultation, and has been making the greatest efforts for the price commitment consultation on the anti-subsidy case of electric vehicles of the EU. It is hoped that the EU side will take practical actions as soon as possible to jointly promote the consultation with China. (Global Network)
In November, Both Civil Aviation Passenger and Cargo Transport Achieved Double-Digit Year-on-Year Growth
According to the Civil Aviation Administration, in November, the total transportation turnover of the national civil aviation reached 12.25 billion ton-kilometers, with a year-on-year growth of 20.5%. Both civil aviation passenger and cargo transport achieved double-digit year-on-year growth. In terms of passenger transport, in November, domestic airlines completed a total of 56.434 million passenger trips, with a year-on-year growth of 15.2%. Among them, the international routes recovered to 94.3% of the same period in 2019, and the monthly international route passenger transport volume has recovered by more than 90% compared with the same period in 2019 for five consecutive months. In terms of cargo transport, in November, the national civil aviation completed a total of 837,000 tons of cargo and mail transportation, with a year-on-year growth of 16.6%. The monthly cargo and mail transportation volume has continuously reached the 800,000-ton level for three consecutive months. (CCTV News)
SWIFT: In November, the RMB ranked as the fourth most actively used payment currency globally, accounting for 3.89%.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) released data on December 18. In November, the RMB was the fourth most actively used payment currency in the world, accounting for 3.89% of the total global payment volume. When international payments outside the Eurozone are taken as the statistical basis, the RMB ranked fifth in the same month, accounting for 3.02%. (Jiemian News)
Canalys: The PC market in mainland China is expected to grow by 6% in 2025
36Kr learned that according to Canalys, in the third quarter of 2024, the PC shipments in mainland China (including desktops, laptops, and workstations) slightly declined by 1% year-on-year, totaling 11.1 million units. Among them, the shipment volume in the consumer market increased by 4% year-on-year driven by pre-holiday stocking and government consumption incentive measures. Canalys predicts that the PC market will continue to recover in 2025. Affected by the stimulus policies that support consumer and enterprise purchases, the desktop and laptop markets will grow by 6%.
How to Calculate Property Management Fees and Taxes After Canceling Shared Area? Expert: It Should Also Be Based on the Indoor Area
Within a week, two cities have announced that they will promote the "cancellation of shared area". A real estate research expert said that the cancellation of shared area should be regarded as an important task in the real estate industry in 2025, which will play a positive role in protecting the rights and interests of homebuyers, enhancing their confidence in buying houses, and promoting the "stop falling and stabilize" of the real estate in 2025. With the advancement of the policy of canceling shared area, netizens have also paid close attention to how the fees related to houses, such as taxes and property management fees, will be calculated in the future. Experts said that if the final online signing and transactions are calculated based on the indoor area, then taxes and property management fees should also be calculated accordingly based on the indoor area. The "cancellation of shared area" will have an impact on the inherent model of the real estate industry, and new supporting policies are needed to support it. (China Business Network)
South Korea's Samyang Foods Plans to Invest Approximately 1 Billion Yuan to Build a Factory in China to Produce "Turkey Noodles"
South Korea's Samyang Foods, known for producing "Turkey Noodles," said on Thursday that it will invest 201.4 billion Korean won (approximately 1 billion yuan) to establish its first overseas factory in China in early 2027 to meet the growing local demand for its products. A spokesperson for the company said that Samyang plans to establish a subsidiary in Singapore in the first half of next year and start building a factory in Jiaxing City, Zhejiang Province in eastern China at the end of next year. (Sina Finance)
The US is exposed to be considering imposing a ban on a Chinese router manufacturer, and the Ministry of Foreign Affairs responds
The spokesperson of the Ministry of Foreign Affairs, Lin Jian, presided over a regular press conference. A Reuters reporter asked that according to The Wall Street Journal, the US government is considering a national security-based ban targeting a Chinese router manufacturer. What is the Ministry of Foreign Affairs' comment on this move? Lin Jian said that we have always opposed the US side's generalization of the concept of national security and the discriminatory approach taken against specific national enterprises. China will take resolute measures to firmly safeguard the legitimate rights and interests of Chinese enterprises. (Global Times)
TikTok: Glad to See the Latest Ruling of the US Supreme Court, Believing It Will Determine the Ban Unconstitutional
On December 19, Beijing time, TikTok issued a statement regarding the previous decision of the US Supreme Court, stating, "We are pleased with the ruling of the Supreme Court today. We believe the court will determine that the TikTok ban is unconstitutional." On December 18, local time, the US Supreme Court announced that it will once again discuss the bill to prohibit TikTok from operating in the United States. The US Supreme Court will hold a debate on this case on January 10, allowing the court to make a ruling on this issue before the law takes effect on January 19. (Jiemian News)
During the busy Christmas shopping season, thousands of Amazon workers are going on strike
On Thursday morning Eastern Time, at a crucial moment in the final days of the US holiday season, thousands of Amazon employees are going to stage a strike. This strike is likely to have a significant impact on Amazon's operations. For this e-commerce giant, this is the busiest season of the year and the time when it needs to expedite order fulfillment the most. However, the strike by thousands of workers may cause challenges to its shipment and delivery. (Cailian Press)
Volkswagen is reportedly close to reaching an agreement with the union to maintain the operation of its German factories
According to Jiemian News, sources familiar with the matter revealed that Volkswagen AG and union leaders are close to reaching an agreement to restructure the company's namesake brand without closing its German factories. The sources said that the management is willing to keep the factories running and restore the job security agreement until 2030. In return, the workers will give up bonuses. (Jiemian News)
Bank of Japan Governor Kazuo Ueda: Interest rates will be raised if the economic outlook is realized
On December 19, Bank of Japan Governor Kazuo Ueda stated that monetary policy depends on the economy and inflation. If the economic outlook is realized, interest rates will be raised. He said that recent economic data are broadly in line with the outlook, and the timing of adjustments will be decided after examining the data. It is necessary to pay attention to the momentum of the spring wage negotiations. (Jiemian News)
Hyundai and Kia's November Sales in Europe Decreased by 10.5% Year-on-Year
Industry data released on Thursday (the 19th) shows that the sales of South Korea's major automakers Hyundai Motor and Kia Motors in Europe in November decreased by 10.5% year-on-year. According to the statistics of the European Automobile Manufacturers' Association (ACEA), Hyundai and Kia sold 79,744 vehicles in Europe last month. ACEA's data shows that Hyundai sold 39,592 vehicles, a year-on-year decrease of 12.5%, and Kia sold 40,152 vehicles, a year-on-year decrease of 8.4%. (Sina Finance)
The German Export Expectation Index for December Drops, with the Industry Remaining in a Downturn
According to data released by the Ifo Institute for Economic Research in Germany on December 18 local time, the German export expectation index for December this year dropped from -5.8 points in November to -6.1, indicating that the export industry remains in a downturn. The data shows that the unfavorable situation faced by the German automotive industry since the middle of the year has not improved. The exports of the chemical industry have been in a "sideways" state throughout the year, and textile and clothing manufacturers are also pessimistic about the overseas market. The Federation of German Industries calls on the next federal government to implement a firm growth agenda as soon as possible to reverse the decline of the German economy. (CCTV News)
New car registrations in the EU declined in November, with the largest drop in France
Data released by the European Automobile Manufacturers' Association on December 19 shows that in November 2024, new car registrations in the EU decreased by 1.9%. Among the four major markets in the EU, the car registrations in France dropped the most, by 12.7%, followed by Italy, with a decrease of 10.8%. The registrations in Germany slightly declined by 0.5%. Only Spain achieved positive growth, with a 6.4% increase in registrations. (Jiemian News)
The Cutting Edge of AI
CITIC Securities: AI Phones/Computers Enter the "Fulfillment Verification Period", AIoT Expected to See Supply Explosion
36Kr has learned that the research report of CITIC Securities points out that AI phones/computers have entered the "fulfillment verification period", and AIoT is expected to witness a supply explosion. The greatest transformation of AI terminals lies in reshaping the interaction paradigm from touchscreen to voice and multimodal upgrades, thereby bringing a more concise and efficient user experience. Since 2024, AI phones/computers have taken the lead in "hardware first", creating AI Ready PC/Phone with the chip as the core. Looking forward to 2025, the computing power on the terminal side will further increase, and at the same time, the terminal-side applications will start to gain momentum. Coupled with the decline in the inference cost of large models, it is expected to truly drive the wave of device replacement led by AI. In a one-year perspective, Apple's software and hardware integration of AI functions is the most promising.
Microsoft Becomes Nvidia's Largest Customer: Purchasing 485,000 Hopper Chips This Year, Accounting for 20% of Revenue
The latest report from market research firm Omdia shows that in 2024, Microsoft is the largest customer of Nvidia's AI chips, purchasing 485,000 Nvidia Hopper chips, which is twice the amount purchased by Meta, the second-largest customer. Currently, tech giants such as Microsoft, Meta, OpenAI, and Google are engaged in a fierce arms race to compete for the dominance of AI. Omdia data shows that compared with its competitors, Microsoft purchased the largest number of Nvidia AI chips this year, reaching 485,000, which is three times the amount purchased in 2023 and accounts for 20% of Nvidia's revenue in the past year. (Sina Technology)
Big Company Financial Reports
Micron Technology's revenue outlook falls short of analysts' expectations, and its stock price plunged by about 18% after hours.
On December 18 local time, Micron Technology disclosed in its earnings report released after the market closed that due to the weak demand for smartphones and personal computers, it expects revenue for the current fiscal quarter to be approximately $7.9 billion, while the average estimate of analysts is $8.99 billion. The company expects earnings per share excluding certain items to be no more than $1.53, which is far lower than the analysts' estimate of $1.92. Its stock price plunged by about 18% in after-hours trading. (Jiemian News)
Investment and Financing
Perplexity Completes Latest Round of Financing, Valuation Rises to $9 Billion
It is reported that the artificial intelligence-driven search engine Perplexity has completed its fourth round of financing this year, and its valuation has increased to $9 billion. It is attempting to compete with the products of Google and OpenAI. According to multiple informed sources, the $500 million financing in this round was led by Institutional Venture Partners, and NVIDIA, New Enterprise Associates, B Capital, and T Rowe Price also participated. (Jiemian News)
"Jumppoint Logistics Technologies" Receives an Additional $3.5 Million in Series A+ Funding from MindWorks Ventures
36Kr has learned that "Jumppoint Logistics Technologies" has recently received a $3.5 million Series A+ funding from its existing shareholder, MindWorks Ventures. The total cumulative funding amount exceeds $20 million. This round of funds will be used for technological upgrades to enhance the AI algorithms and intelligent scheduling capabilities; for market expansion to further build a global warehousing and logistics network, and to provide digital global logistics solutions for e-commerce enterprises.
"Shanggu Technology" Secures Ten-Million-Level Pre-A Round Financing
36Kr has learned that recently, Shanghai Shanggu Technology Co., Ltd. announced that it has obtained ten-million-level Pre-A round financing, with the investor being Tengxin Investment. Li Chaofeng, the general manager of Shanggu Technology Company, said: "This financing is mainly used for the artificial intelligence algorithm optimization, system research and development, and big data construction of the intelligent digital marketing system." It is introduced that the core product of Shanggu Technology, the intelligent digital marketing system, is a full-process digital marketing solution that integrates advanced artificial intelligence technology.
Organized by｜ Yu Yaoming