Krypton Evening News | Chen Lei of Pinduoduo: Give full play to the "spirit of nailing a nail" and advance the high-quality development strategy in depth; Meituan's drones completed their first flight mission in Hong Kong, and the opening of the first delivery route in Hong Kong is approaching; The latest XR experience of Taobao Vision was unveiled at AWE.
Large companies:
FedEx Reports $22 Billion in Revenue and $909 Million in Net Income in Q3 Fiscal Year
On March 20 local time, FedEx released its consolidated financial results for the third quarter of fiscal year 2025, ending February 28. The company reported revenue of $22 billion, compared with $21.7 billion in the same period last year. Net income was $909 million, up from $879 million in the prior-year quarter. (Jiemian)
Embodied Intelligence Simulation Platform "Ge Wu" Released: One Set of Code Covers Over 100 Robots
On March 21st, the National and Local Joint Innovation Center for Humanoid Robots, in collaboration with Shanghai University and Tsinghua University, jointly released the embodied intelligence simulation platform "Ge Wu". It is learned from the National and Local Joint Innovation Center for Humanoid Robots that as a high - performance simulation environment for future robot research and development, "Ge Wu" integrates advanced reinforcement learning frameworks and multi - modal motion control technologies. It is committed to providing a one - stop solution for robot development and testing for scientific research institutions, universities, and enterprises, and promoting the transformation of humanoid robot technology from the laboratory to industrialization. Its core technological breakthroughs are the general reinforcement learning framework and model automatic adaptation technology. One set of code can cover over 100 robots. New robots can be trained once imported without the need for reprogramming. Its universality and ease of use will significantly lower the R & D threshold and accelerate the implementation of innovation achievements. (CCTV News)
Great Wall Motor Responds to Multiple Apps Being Unavailable for Login: Server Abnormality, Functions Are Gradually Recovering
This morning, many car owners reported that multiple apps under Great Wall Motor had malfunctioned. The Great Wall Motor App, Haval Smart Home App, and Tank App all crashed, and car owners using Bluetooth keys were unable to unlock their cars. Subsequently, the Great Wall Motor App team issued a "Server Abnormality Announcement". Great Wall Motor stated that due to a server abnormality, some users of the five - brand apps and the Great Wall Motor App may be unable to log in or use the apps normally. The technical team is making every effort to fix the server abnormality, and the functions are gradually being restored. Great Wall Motor also advised car owners to carry mechanical keys during their trips to avoid any inconvenience caused by the inability to use the apps properly. (Sina Finance)
China Resources Beverages: Revenue in 2024 was 13.521 billion yuan, a year-on-year increase of 0.05%
36Kr learned that China Resources Beverages released an announcement stating that for the year ended December 31, 2024, the company's revenue was 13.521 billion yuan, a year-on-year increase of 0.05%. Among them, the revenue from packaged drinking water products accounted for 89.7% of the total revenue, and the revenue from beverage products accounted for 10.3% of the total revenue. In 2024, the profit attributable to the owners of the company for the year was 1.637 billion yuan, a year-on-year increase of 23.12%.
The first self - adjusted store of Wumart "learning from Fat Donglai" at Xueqing Road in Beijing resumes business
36Kr learned that on March 21st, the first self - adjusted store of Wumart "learning from Fat Donglai" - the store at Xueqing Road in Beijing resumed business, achieving a comprehensive upgrade in aspects such as the product system, service ecosystem, and spatial layout. After the adjustment, the product structure of this store is nearly 90% similar to that of Fat Donglai. The number of products has been streamlined to about 10,000, of which 70% are new products, and imported products account for 15%. Meanwhile, 68 types of Fat Donglai products have been introduced. In addition, the core breakthrough of this adjustment lies in the re - evaluation of the value of "people". After the opening, the business hours of the Xueqing Road store have been shortened from 8:00 - 22:00 to 9:30 - 21:30. The average salary of front - line employees has increased by 50%, with the minimum monthly salary reaching 6,000 yuan, and the minimum paid annual leave has been increased to 10 days.
Tongcheng Travel: Served a cumulative of 1.93 billion person - times and achieved an income of 17.34 billion yuan in 2024
36Kr learned that Tongcheng Travel released its financial report for the fourth quarter and the whole year of 2024. The financial report shows that Tongcheng Travel achieved an operating income of 17.34 billion yuan in 2024, a year - on - year increase of 45.8%. Among them, the company's transportation business revenue increased by 19.9% year - on - year, reaching 7.23 billion yuan; the accommodation business revenue was 4.67 billion yuan, a year - on - year increase of 19.7%. The company's annual adjusted EBITDA reached 4.05 billion yuan, a year - on - year increase of 29.7%; the adjusted net profit was 2.79 billion yuan. In addition, in 2024, Tongcheng Travel's annual paying users reached 240 million, and the number of service person - times reached 1.93 billion, a year - on - year increase of 9.3%.
China Mobile: Operating revenue reached 1.0408 trillion yuan in 2024, a year-on-year increase of 3.1%
36Kr learned that China Mobile announced in the Hong Kong Stock Exchange that its operating revenue in 2024 was 1.0408 trillion yuan, a year-on-year increase of 3.1%; the profit attributable to shareholders was 138.4 billion yuan, a year-on-year increase of 5.0%. The board of directors proposed a final dividend of HK$2.49 per share for 2024. Together with the interim dividend already distributed, the total dividend for the whole year of 2024 was HK$5.09 per share, a year-on-year increase of 5.4%.
Meituan's drones completed their first flight mission in Hong Kong, and the opening of Hong Kong's first delivery route is approaching
36Kr learned that on March 20th, the Hong Kong government announced the list of the first batch of low - altitude economy regulatory sandbox pilot projects, and Meituan's drones were selected. At the launch ceremony, after Chief Executive of the Hong Kong Special Administrative Region Li Jiachao issued the take - off command, Meituan's drones completed their first low - altitude logistics delivery mission in Hong Kong. It is understood that the preparation work for Meituan's first drone delivery route in Hong Kong has basically been completed, and it is waiting for the final approval to determine the opening date. It is expected to meet Hong Kong citizens soon. At the same time, the company has established a drone business entity in Hong Kong and also plans to set up a research and development center to conduct joint research and technological breakthroughs in the field of low - altitude economy with Hong Kong academic institutions, contributing to the technological progress and industrial development of Hong Kong's low - altitude economy.
Investment and financing:
Dongyun Core Mine (Jiangsu) Chip Technology Co., Ltd. Completes Angel Round of Financing
36Kr learned that recently, Dongyun Core Mine (Jiangsu) Chip Technology Co., Ltd., a provider of intelligent computing power infrastructure services and high - end chip solutions, completed a 10 - million - yuan angel round of financing. This round of financing was invested by an investment institution. The funds from this financing will be mainly used to build the "Core Mine Quantum Laboratory" and accelerate the industrialization of photonic chip and carbon - based semiconductor technologies.
“Chuguang 3D” Completes Tens of Millions of Yuan in Angel + Round Financing
36Kr learned that “Chuguang 3D”, a domestic manufacturer of optical precision imaging instruments, has completed tens of millions of yuan in angel + round financing. The investors are Yuanhe Origin, Optics Valley Industry Investment, and Changshu Guofa Venture Capital, and Fengrui Capital, the shareholder in the angel round, has continued to increase its investment. This round of financing will be mainly used for the continuous R & D of the current optical 3D imaging technology platform and the establishment of the marketing team to accelerate the commercialization process.
Nike: Achieved $11.3 billion in revenue in the third quarter, with $1.7 billion in revenue in Greater China
36Kr learned that Nike Group announced its financial results for the third quarter of fiscal year 2025. The financial report shows that in this quarter, Nike Group achieved revenue of $11.3 billion, exceeding analysts' expectations. Among them, Nike's direct-to-consumer business revenue was $4.7 billion, and its wholesale business revenue was $6.2 billion. Nike's revenue in Greater China was $1.7 billion. Dong Wei, Chairman and CEO of Nike Greater China and Global CEO of the ACG brand, said: "We are going all out in the Chinese market, actively accelerating the strategic transformation, optimizing inventory management and the operational portfolio, creating innovative products and services centered around sports, and continuously strengthening the brand's competitiveness."
New products:
Taobao Vision's Latest XR Experience Debuts at AWE
36Kr learned that the "Virtual Home Experience Cabin" newly created by Taobao Vision made its debut at AWE. This is the only XR interactive experience integrating the real and virtual worlds at this year's AWE. It combines spatial computing and artificial intelligence technologies, and its future applications in the e-commerce field are full of possibilities.
China's Self-developed Wireless Cortical Brain-computer Interface Breaks World Record in Number of Implanted Brain Channels
On the morning of March 20th, the semi-invasive brain-computer interface "Beibrain No. 1" independently developed by China successfully completed its third human implantation surgery in Beijing at Tiantan Hospital. The first two surgeries were successively carried out at Peking University First Hospital and Xuanwu Hospital of Capital Medical University. So far, the three patients are in good condition. Among them, the paralyzed patient has achieved motor control through thoughts, and the patient who lost the ability to speak due to amyotrophic lateral sclerosis has regained the ability to communicate in Chinese. The experts present at the meeting believe that "Beibrain No. 1" integrates flexible high-density cerebral cortical electrodes independently developed by China, and the signal flux collected by its 128 channels simultaneously ranks first among similar international products. (Xinhua News Agency)
Today's Views:
Tang Rui, Deputy General Manager of Shenzhen Stock Exchange: Explore the use of advanced technologies such as AI to promote the R & D and reserve of AI stock - selection indexes
At the third - phase ETF Ecosystem Conference held by the Shenzhen Stock Exchange today, Tang Rui, a member of the Party Committee and Deputy General Manager of the Shenzhen Stock Exchange, said that the Shenzhen Stock Exchange will conduct in - depth research on the iteration rules of indexes and the impact of key factors on index performance, and establish a product R & D system that meets the needs of the new era. Explore the use of advanced technologies such as AI to optimize effective strategy factors, and actively promote the R & D and reserve of AI stock - selection indexes. Research and expand the underlying asset categories of ETFs, reserve multi - asset ETFs such as stock - bond hybrids and stock - commodity hybrids, and REITs ETFs. Promote the enrichment of the supply of derivatives such as ETF options and stock index futures to provide more risk management tools for indexed investment.
Pinduoduo's Chen Lei: Implement the "Nail-Driving Spirit" and Deeply Advance the High-Quality Development Strategy
On March 20th, Pinduoduo released its financial report for the fourth quarter and the whole year of 2024. In the past year, Pinduoduo's high-quality development strategy entered a stage of full deepening. Over ten million merchants achieved quality improvement and efficiency enhancement under the "Hundred-Billion Reduction" policy. The "E-commerce Goes West" initiative drove double-digit growth in orders in the western regions. The first batch of projects under the "New-Quality Merchant Support Plan" helped thousands of agricultural and pastoral production areas and industrial clusters gradually shift to the development stage of "new-quality supply". At the earnings conference call, Chen Lei, Chairman and Co-CEO of Pinduoduo Group, said that in 2025, we will continue to implement the high-quality development strategy with the "nail-driving spirit", leverage the platform's digital advantages, expand the scale of the upward flow of "new-quality supply", continuously benefit the beautiful lives of consumers, and make every effort to build a win-win ecosystem for users, merchants, and the platform.
Other Noteworthy News:
Foreign Ministry Responds to South Korea's Plan to Waive Visas for Chinese Group Tourists in the Third Quarter
On March 21, Foreign Ministry Spokesperson Mao Ning presided over a regular press conference. A reporter asked how China evaluates and what expectations it has regarding South Korea's plan to waive visas for Chinese group tourists in the third quarter. Mao Ning said that China and South Korea are close neighbors, and strengthening people-to-people exchanges is in the interests of both sides. (CCTV News)
MIIT: The "Implementation Plan for the Digital and Intelligent Transformation of the Pharmaceutical Industry" is about to be released
The State Council Information Office held a regular policy briefing at 10 a.m. on March 21. He Yaqiong, Director of the Department of Consumer Goods Industry of the Ministry of Industry and Information Technology, said that with the development of information technology and the accelerated iteration and upgrading of artificial intelligence, it has provided a good foundation for the rapid development of traditional Chinese medicine in the next step. The MIIT is about to release the "Implementation Plan for the Digital and Intelligent Transformation of the Pharmaceutical Industry". This document clarifies the goals and paths for the integrated development of the traditional Chinese medicine industry and the new generation of information technology. First, in terms of the technical support for digital transformation, specifically targeting the characteristics of traditional Chinese medicine production, by organizing systematic solutions for the digital and intelligent transformation of the pharmaceutical industry, including research on some key technical products, a systematic solution that complies with the quality management specification system of traditional Chinese medicine has been developed. Second, in terms of selecting typical cases for digital and intelligent transformation, we mainly focus on the specific needs of pharmaceutical industrial enterprises for quality improvement, cost reduction, efficiency enhancement, green development, safety, and compliance, and find "small entry points" to solve specific problems. We will support the construction of more than 20 digital and intelligent traditional Chinese medicine production lines or intelligent factories, cultivate a number of enterprises for the digital and intelligent transformation of the traditional Chinese medicine industry, and release more than 20 typical scenarios for the application of digital and intelligent technologies in the traditional Chinese medicine industry. (Securities Times)