8:01 AM | The former chairman of Moutai is under investigation for suspected serious violations of discipline and law; Lotus officially changed its name to Lotus Sports Car; Musk responds to the Cybertruck explosion incident.
TOP3 Big News
Ding Xiongjun, the former chairman of Moutai, is suspected of serious violations of discipline and law and is under investigation
On January 2, the website of the Central Commission for Discipline Inspection and the National Supervisory Commission issued an announcement stating that Ding Xiongjun, the Party Secretary of the Guizhou Provincial Market Supervision Administration and the Director of the Guizhou Provincial Market Supervision Administration (Guizhou Provincial Intellectual Property Office), is suspected of serious violations of discipline and law. He is currently undergoing disciplinary review and supervision investigation by the Guizhou Provincial Commission for Discipline Inspection and the Supervisory Commission.
On August 30, 2021, Ding Xiongjun was transferred from the Party Secretary and Director of the Guizhou Provincial Energy Bureau to the Director and Chairman of the Board of Directors of China Guizhou Moutai Distillery (Group) Co., Ltd., and the Director and Chairman of the Board of Directors of Guizhou Moutai Co., Ltd. During this period, Ding Xiongjun carried out large-scale reforms in the youth-oriented development of Baijiu and the Moutai distribution channels. For example, he launched co-branded products such as Moutai ice cream, Maotai-flavored latte, and Moutai chocolate. On April 29, 2024, Ding Xiongjun was transferred to the Director of the Guizhou Provincial Market Supervision Administration (Guizhou Provincial Intellectual Property Office). Moutai was succeeded by Zhang Deqin, an internally trained cadre, as the new leader.
It is worth noting that in recent years, the position of the chairman of Moutai has been like a "volcanic crater". Since May 2018, Moutai has changed four chairmen in six years. In May 2018, Li Baofang succeeded Yuan Renguo. Yuan Renguo was sentenced to life imprisonment for accepting bribes in September 2021 and died in 2023. Two years after Li Baofang took over, Gao Weidong was appointed as the new chairman of Moutai Group in 2020, but he was also sentenced to life imprisonment for accepting bribes in February 2024. (China Business News)
Lotus Officially Renamed as Lotus Sports Car
On January 2, Lotus Cars announced that its brand logo and Chinese name will be changed to "Lotus Sports Car". On January 1, Feng Qingfeng released an internal letter of New Year blessings, stating that after more than five years of efforts, the round logo, word logo, and the Chinese trademark "Lotus" of LOTUS have finally returned to the company. At the same time, he also announced that in the just-passed December, the global monthly sales of Lotus Cars have exceeded 2,000 units.
As a supercar brand on par with Porsche and Ferrari, after Geely Group Holdings acquired a 51% stake in Lotus in 2017, it announced that it would comprehensively transform it into a pure electric sports car brand. Currently, the models available for sale by Lotus include the fuel supercar Emira, the pure electric supercar Evija, the pure electric SUV ELETRE, and the pure electric coupe EMEYA. (Jiemian News, Sina Technology)
Elon Musk Responds to Cybertruck Explosion Incident
On January 1 local time, the Las Vegas Metropolitan Police Department in the United States stated that the police are investigating the explosion of a Tesla Cybertruck in front of the Trump International Hotel in Las Vegas and have initially classified it as a potential criminal case or terrorist attack. The police confirmed that the driver died on the spot, and seven bystanders suffered minor injuries. An official involved in the investigation said that the explosives on the Cybertruck were "fireworks, gas cylinders, and camping fuel," and the investigators believed that these explosives were connected to an ignition system controlled by the driver.
Elon Musk posted on a social media platform that Tesla has confirmed that the explosion of a Cybertruck outside the Trump Hotel in Las Vegas was caused by a very large fireworks and/or a bomb placed under the vehicle, and has nothing to do with the vehicle itself. He said that the vehicle was a rental car, and the Tesla executive team is investigating the matter. Musk also said that the Cybertruck that exploded in Las Vegas was rented from the car rental platform Turo, and the vehicle used in the New Orleans attack was also rented from Turo. Musk hinted that the two incidents might be related, "It seems that it might be a terrorist act." (Jiemian News)
Big Companies/Big Events
Apple Officially Announces Price Reduction, Up to 800 Yuan Can Be Saved Instantly
According to Kuaitech, just after the New Year's Day, Apple's official website in China announced the "Amazing Benefits" New Year promotion event, which will be launched from January 4th to 7th. During the event, when purchasing designated products with eligible payment methods, each customer is limited to purchasing 2 items per product category, and up to 800 yuan can be saved instantly. There is also a discount for trading in for a new iPhone. It should be noted that Apple emphasizes that the number of products eligible for this promotion in Apple Store retail stores is limited, and it is available while supplies last. (Kuaitech)
Xiaomi has invested in a fitness company, with an approximately 15% stake.
On January 2, Lei Jun posted a photo of himself in the gym on Weibo, with the caption: "The first check-in in 2025!" It is worth noting that in the comment section of this blog post, many netizens called on Lei Jun to enter the fitness industry.
The Tianyancha App shows that Xiaomi Technology Co., Ltd. is a shareholder of Leyuan Network Technology (Shanghai) Co., Ltd., an affiliated company of "AIDONG SPORT", with a shareholding ratio of approximately 15%. The latter was established in November 2013, with Song Guanghui as the legal representative and a registered capital of approximately 8.07 million Chinese yuan. Publicly available information shows that "AIDONG SPORT" is a domestic sports technology company that empowers the development of the fitness industry with technological innovation. (Sina Technology, 36Kr)
WeChat and TikTok Obtain Operating Permits in Malaysia
The Malaysian Communications and Multimedia Commission (MCMC) announced on January 1 local time that the country's operating license system for social media platforms has officially come into effect. The MCMC said that WeChat and TikTok had obtained operating permits before the deadline of December 31 last year, and Telegram's application is in the final stage. In addition, Meta has initiated the process of applying for a license, and "it is expected to be completed soon". (Jiemian News)
Lin Juncheng, Vice President of Samsung's Packaging Business, Resigns
It is reported that Lin Juncheng, the former R&D director of TSMC, confirmed through LinkedIn that he has left Samsung. The reason is that his employment contract with Samsung expired at the end of last year. He joined Samsung two years ago as the vice president of the advanced packaging business in the semiconductor business. (Jiemian News)
The domestically-produced C909 aircraft completed the verification flight of the domestic braking system in Chongqing
At dawn on January 1, 2025, the domestically-produced C909 aircraft of Huaxia Airlines landed smoothly at Wanzhou Wuqiao Airport in Wanzhou District, Chongqing, marking the successful completion of the verification flight test of the domestic braking system of this aircraft model. The success of this flight test lays the foundation for further improving the technical level and market competitiveness of domestically-produced aircraft. (Xinhua News Agency)
Huadong Medicine Responds to the Research and Development Progress of Semaglutide
Regarding the research and development and commercialization progress of the company's semaglutide, on January 2, Huadong Medicine told reporters that the company's semaglutide injection is a product developed in cooperation with Chongqing Paijin. Currently, the application for pre-BLA for the diabetes indication has been submitted, and the BLA application is planned to be submitted in the first quarter of this year. The first case of the phase III clinical trial for the weight management indication has been enrolled. The semaglutide injection declared by Jiuyuan Gene is a product independently developed by it. Currently, the company has no intention of commercial cooperation with Jiuyuan Gene on this product. (Securities Times)
The Indonesian rupiah recorded its biggest drop in two weeks, and Indonesia postponed the VAT hike plan
The Indonesian rupiah once dropped nearly 1% against the US dollar. Previously, under strong public protests, Indonesia postponed the plan to increase the VAT rate. The US dollar/Indonesian rupiah once rose to 16,259, marking the biggest intraday fluctuation since December 19. (Sina Finance)
Nearly Half of Korean Surveyed Employees Believe Work Environment May Worsen in 2025
A latest survey on the outlook of the work environment in South Korea shows that nearly half of Korean employees have a pessimistic expectation of their work environment in 2025, believing that the work environment will deteriorate. This proportion has increased by 17.1 percentage points compared with a similar survey a year ago. (Xinhua News Agency)
The cumulative sales of Pangdonglai Group in 2024 is approximately 16.964 billion yuan.
36Kr learned that Yu Donglai, the founder of Pangdonglai, announced the sales data of Pangdonglai in 2024 on the Douyin platform on January 1. In 2024, the cumulative sales of Pangdonglai Group (in Xuchang and Xinxiang) is approximately 16.964 billion yuan.
Former IBM Global Vice President and Chief Technology Officer of Greater China Xie Dong Joins Beidian Digital Intelligence
36Kr has learned that Beidian Digital Intelligence announced that Dr. Xie Dong, the former IBM Global Vice President and Chief Technology Officer of Greater China, has officially become the company's Chief Technology Officer. Beidian Digital Intelligence is an artificial intelligence enterprise of Beijing Electronic Control Group for the layout of new-quality productive forces.
The number of employed people in Germany reached 46.1 million in 2024, hitting a record high
The German Federal Statistical Office said on January 2 that in 2024, the annual average number of employed people in Germany was approximately 46.1 million, the highest level since the reunification of East and West Germany. The German Federal Statistical Office stated that the average number of employed people in 2024 increased by 72,000 compared to the previous year. Except for 2020 during the COVID-19 pandemic, the number of employed people in Germany has been increasing since 2006. (Sina Finance)
Elon Musk's "New Favorite" Tirzepatide Launched in China, with Four Specifications
Elon Musk's weight loss "new favorite" Tirzepatide has been officially launched in China. On January 2, 2025, it was learned from Lilly China that the glucose-dependent insulinotropic polypeptide (GIP)/glucagon-like peptide-1 (GLP-1) receptor agonist Tirzepatide (trade name: Mufengda) has been officially launched in China, covering two indications at the same time, including type 2 diabetes and weight loss. Mufengda has currently been launched in China in four specifications, including 2.5 mg:0.5ml, 5 mg:0.5ml, 7.5 mg:0.5ml, and 10 mg:0.5ml. (The Paper)
UK house prices rose for the fourth consecutive month in December, approaching a record high
Data released by the Nationwide Building Society on January 2 showed that at the end of last year, UK house prices climbed to a level close to a record high, indicating that the resilient real estate market has gathered more momentum. The institution said that house prices rose by 0.7% month-on-month in December, averaging £269,426 (approximately $337,500), slightly lower than the historical high of £273,751 set in the summer of 2022. (Sina Finance)
Tesla delivered 495,570 vehicles in the fourth quarter, with the delivery volume falling short of expectations
Tesla announced the delivery data for the fourth quarter. The data shows that the company delivered 495,570 vehicles in the fourth quarter, with an estimate of 512,277 vehicles. As of the time of writing, Tesla's stock price plunged sharply before the market opened. (Sina Technology)
"Black Myth: Wukong" Art Director Yang Qi: The DLC is still in the works
On January 2, Yang Qi, the co-founder of Game Science and the art director of "Black Myth: Wukong," mentioned the development progress of the subsequent DLC of "Black Myth: Wukong" in response to netizens. He stated that the DLC (Downloadable Content, a game expansion pack) is still in the planning stage. "It really can't be presented hastily. Please give the team more time." (Jiemian News)
Xu Jiayin and China Evergrande Are Once Again Subject to Restrictions on High-Consumption
The China Enforcement Information Disclosure Network shows that on December 30, 2024, due to failure to fulfill the payment obligations determined by the effective legal documents within the period specified in the enforcement notice, China Evergrande Group and Xu Jiayin were subject to restrictions on high-consumption. The enforcement court is the Intermediate People's Court of Guangzhou City, Guangdong Province. The case process information shows that in March 2023, China Evergrande Group and Guangzhou Kailong Real Estate Co., Ltd. were forcibly executed for more than 6.054 billion yuan for this case. (Jiemian News)
Contemporary Amperex Technology Co. Limited, BAIC, and Xiaomi Auto's Joint Venture Renamed as Time BAIC
Tianyancha App shows that Beijing Time Power Battery Co., Ltd. has recently undergone industrial and commercial changes. The enterprise name has been changed to Time BAIC (Beijing) New Energy Technology Co., Ltd. The business scope has newly added technical services, technical development, technical consultation, technical exchange, technology transfer, and technology promotion, battery sales, import and export of goods. At the same time, some key personnel have also changed. The company was established in May 2024, with Meng Xiangfeng as the legal representative and a registered capital of 1 billion Chinese yuan. It is jointly held by Contemporary Amperex Technology Co. Limited, BAIC Hailanxin Energy Technology (Beijing) Co., Ltd., Xiaomi Auto Technology Co., Ltd., and Beijing Jingneng Technology Co., Ltd.
In response, the reporter called BAIC BluePark and Contemporary Amperex Technology Co. Limited as an investor. A relevant person from BAIC BluePark said that they have not yet learned about the relevant information, but this name change should be a normal situation. The joint venture has an independent management team, and BAIC BluePark is only an investor. The information involved is not within the company's disclosure scope. At the same time, a relevant person from Contemporary Amperex Technology Co. Limited said that they do not know the news for the time being and need to ask the relevant departments of the company later. (21 Finance and Economics)
Apple Agrees to Pay $95 Million to Settle Siri-related Recording Class Action Lawsuit
Apple has agreed to pay $95 million in cash to settle a class action lawsuit. The lawsuit alleges that the company obtained private communication content through Siri and shared it with third parties without consent. The plaintiffs in the lawsuit claim that Siri was accidentally activated and shared confidential or private conversations that the voice assistant overheard with Apple. (Sina Finance)
OpenAI Says Required Funds Exceed Expectations and Has Developed a Plan to Shift to a For-Profit Structure
The artificial intelligence (AI) startup OpenAI recently stated that it needs to raise more funds than expected to achieve its goals and has developed a plan to transition to a for-profit structure. The company has now shifted to a hybrid "profit cap" structure, with a for-profit subsidiary controlled by its non-profit division, to raise funds to support its work. OpenAI stated in a blog post: "The fact that large companies are now investing hundreds of billions of dollars in AI development fully demonstrates what is required for OpenAI to continue pursuing this mission." The company added that this means it needs to "raise more funds than we imagined." (Sina Finance)
The three major U.S. stock indexes closed lower collectively, with Tesla dropping by more than 6%
36Kr learned that at the close of trading on January 2, the three major U.S. stock indexes closed lower collectively. The Dow Jones Industrial Average dropped by 0.36%, the Nasdaq Composite Index dropped by 0.16%, and the S&P 500 Index dropped by 0.22%. Large technology stocks had mixed performances. Tesla dropped by more than 6%, Apple dropped by more than 2%, and Microsoft declined slightly; Meta and NVIDIA rose by more than 2%, and Amazon and Google rose slightly. Most popular Chinese concept stocks declined. Bilibili dropped by more than 5%, Weibo and XPeng Motors dropped by more than 2%, and Baidu, JD.com, and NetEase dropped by more than 1%; NIO rose by more than 4%.
Investment and Financing
Tianlingke Completes Angel + Round Financing of Several Ten Million Yuan
On January 2, Tianlingke announced that it has successively completed angel and angel + round financing of several ten million yuan, led by Qingzhou Capital and Boyan Fund respectively, with Shanghai Angel Club as a co-investor. The company officially started the Pre-A round of financing in January 2025. This round of financing will provide financial support for the offline test flight of the first full-size tilt-ducted fan wing eVTOL currently under research and development and manufacturing.
It is reported that the company recently released its flagship product INFLYNC L600 Pioneer, with a maximum range of 600 km, a maximum cruising speed of 360 km/h, capable of carrying 1 pilot and 5 passengers, and multiple takeoffs and landings with a single charge. Tianlingke has currently received more than 500 intent orders. (Jiemian News)
"Saitaino" Completes Tens of Millions of Pre-A Round Financing
36Kr has learned that recently, "Saitaino" announced the successful completion of tens of millions of Pre-A round financing. This round of financing is led by the investment institution Plum Ventures. The funds will be mainly used for the construction of new production lines and the research and development of new products, providing support for Saitaino's innovation and technological breakthroughs in the field of food safety testing. Saitaino is committed to intelligent quality control, relying on the deep integration of testing technology and artificial intelligence AI technology, to provide a complete set of solutions for intelligent AI testing terminals for industrialized production.
The First AI Financing in 2025 Lands: Xiaochuang AI Q&A Machine Completes Angel Round Financing
36Kr has learned that Beijing Super Dad Education Technology Co., Ltd. announced the completion of the angel round financing, becoming the first AI hardware project in China to receive investment in 2025. It is introduced that the company's global first AI Q&A machine "Xiaochuang" has sold nearly 10,000 units in one quarter after its launch, and the company continues to maintain a profitable state. The Xiaochuang AI Q&A machine is a children's AI hardware with voice interaction and screenless design as its core features.
"MindX Digital Intelligence" Secures Nearly 200 Million Yuan in Series B Financing
36Kr has learned that "MindX Digital Intelligence", an industrial-level AI application service provider based on large models, has obtained nearly 200 million yuan in Series B financing. This round is led by Bairui Capital, with Guofang Innovation, Lion City Capital, and the old shareholder CDH VGC participating in the investment. China Renaissance is the exclusive financial advisor. The funds from this round of financing will be used for technological research and development, to expand its large model training volume and continuously build technological advantages; to expand its product matrix and business, deeply explore the core pain points and inefficient scenarios in the cross-border e-commerce field, and provide diversified product services; and to continue to increase investment in customer expansion, and accelerate regional expansion and full coverage.
Cool Products
The First Domestic Distributed Electric Drive Flying Car Debuts
On January 1, the first domestic distributed electric drive flying car independently developed by the scientific research team of Southeast University, "SEU · Kunpeng 1", made a stunning appearance. "SEU · Kunpeng 1" is the first domestic flying car with all-wheel steering and all-wheel drive, and a four-axis and eight-propeller configuration. It is also the first land and air integrated flying car in Jiangsu Province. This technology originates from the Vehicle Engineering Department of the School of Mechanical Engineering at Southeast University and the Jiangsu Engineering Research Center for Intelligent Electric Transport Equipment. (Nanjing Daily)
Nvidia GB300 is likely to be released in Q2 2025, and it is expected to have a stronger demand for water cooling.
According to Digtimes, the supply chain indicates that Nvidia's next-generation GB300 AI server is being designed and is expected to be released in the second quarter of 2025, with trial production starting in the third quarter. The heat dissipation demand of GB300 is stronger, the number of motherboard fans used is less, and the demand for water cooling will be even stronger. (Caixin)
"StarSeaMap" Releases New R1 Series Humanoid-like General-purpose Robots
36Kr has learned that StarSeaMap has released new R1 series humanoid-like general-purpose robot products, with a starting price of 199,000 yuan. The StarSeaMap R1 series includes three models: R1 Pro, R1, and R1 Lite, which are standardly equipped with the NVIDIA Jetson AGX Orin 32GB platform, featuring an 8-core CPU and 200 TOPS GPU computing power. Previously, in October 2024, the company had released the embodied intelligent body product R1.
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