Krypton Evening News | Tesla Responds to Suspension of FSD Push; Temasek's $54 Billion Asset Management Subsidiary Enters Abu Dhabi; Apple CEO Tim Cook Announces Launch of New Clean Energy Fund in China
Large Companies:
Tesla Responds to Suspension of FSD Push
36Kr learned that Tesla's customer support official Weibo account responded to the news of "suspending the FSD push" in the comment section of Tao Lin's Weibo, the vice president of Tesla. "Dear car owners, the application of Tesla's intelligent driving assistance function in China has received extensive attention. Thank you for your support and feedback. According to the requirements of the newly issued 'Notice on Further Strengthening the Management of Product Access, Recall, and Software Over - the - Air Upgrades for Intelligent and Connected Vehicles', the team is completing the approval process for the intelligent driving assistance software corresponding to the 3.0 and 4.0 hardware respectively. All parties are actively promoting the relevant process. Once ready, it will be pushed to you as soon as possible."
Australia's James Hardie to Acquire US - based AZEK for $8.8 Billion
Australian fiber - cement manufacturer James Hardie Industries will acquire US outdoor building products maker AZEK for $8.8 billion. The company said it would acquire AZEK in a cash - and - stock deal worth $8.75 billion including debt, aiming to drive growth by offering new products to homeowners. AZEK shareholders will receive $26.45 in cash and 1.034 shares of James Hardie per share, with a total value of $56.88 per share, a 37.4% premium to AZEK's closing price last Friday. Hardie and AZEK said in a joint statement that AZEK's board has recommended accepting the offer. AZEK produces wood flooring, pergolas, and outdoor living products. (Sina Finance)
1688 Upgrades Buyer Experience and Boosts Procurement Efficiency with AI
1688 will make all its AI products for buyers free of charge. Meanwhile, 1688 has launched functions such as AI business opportunities, AI product selection, AI shopping guides, and AI restocking, focusing on the core procurement processes of "finding goods - selecting products - inquiring orders" for buyers. In addition, 1688 uses AI technology to support buyers' "image - search for alternative products", allowing buyers to search for alternative products of well - known brands and products from contract manufacturers through a single picture. Not long ago, 1688 made all its AI products for merchants free of charge and provided a business large - model for merchants based on Tongyi Qianwen and DeepSeek, enabling merchants to directly reach buyers through AI services.
Dafeng Industry Signs Strategic Cooperation Agreement with Zhiyuan Robotics
36Kr learned that Dafeng Industry announced that the company has signed a "Strategic Cooperation Agreement" with Shanghai Zhiyuan New Technology Co., Ltd. The two parties intend to establish a strategic partnership to jointly explore the innovative application of relevant products in cultural, entertainment, tourism, sports, and business scenarios. The cooperation includes jointly investing in the establishment of a joint - venture company with a registered capital of 10 million yuan. Dafeng Industry will hold 85% of the shares, and Zhiyuan Robotics will hold 15%. In addition, Dafeng Industry will provide an intention procurement order of no less than 15 million yuan for scenario R & D within one quarter after the establishment of the joint - venture company. This agreement will not have a significant impact on the company's operating performance in 2025, and the impact on the company's future operating performance will depend on the progress and implementation of specific projects.
Geely Automobile: Zeng Jingyi Appointed as Independent Non - Executive Director
36Kr learned that Geely Automobile announced that Zeng Jingyi has been appointed as an independent non - executive director of the company and a member of the Audit Committee, Remuneration Committee, and Sustainable Development Committee, effective March 24, 2025. The announcement's resume shows that Zeng Jingyi, 56 years old, is currently the host/producer of "Golden Stone Finance" on Phoenix TV. According to the appointment letter, Zeng Jingyi will receive an annual director's fee of HK$360,000 from the company.
Investment and Financing:
Temasek's $54 - Billion Asset Management Unit to Set Up Office in Abu Dhabi
Temasek Holdings' $54 - billion asset management unit will open an office in Abu Dhabi, joining a series of financial institutions that have recently flocked to the oil - producing emirate. Seviora will locate its office in the local financial center, ADGM. "Opening this new office will help the company expand in Asia and other regions," Seviora said in a statement on Monday. A few months ago, Mubadala Capital, a subsidiary of Abu Dhabi's $330 - billion wealth fund, signed a memorandum of understanding with Seviora regarding co - investment and other opportunities. (Sina Finance)
Shulex Completes Hundred - Million - Yuan - Level Financing
36Kr learned that Shulex, a global customer - service AI Agent company, recently completed a new round of hundred - million - yuan - level financing led by Shanda Capital, with participation from Northern Light Venture Capital and Starting Gate Fund. This round of financing will be used to accelerate the development of AI Agent digital employees, expand the global business map, and speed up the mission of large - scale release of human productivity by AI Agents.
Xiaomi Group Seeks to Raise Up to $5.3 Billion through Share Placement
According to media reports, Xiaomi Group will place shares in a "old - then - new" way, seeking to raise up to $5.3 billion. The placement price is between HK$52.80 and HK$54.60 per share. (Caixin)
New Products:
Himalaya Launches Newly Upgraded Intelligent Voice Assistants
36Kr learned that recently, "Xiaoya" and "Boboo", the intelligent voice assistants independently developed by Himalaya, have been launched. Relying on large models such as DeepSeek, Qwen, and Doubao, and targeting scenarios of general knowledge, emotional services, and children's growth companionship, "Xiaoya" and "Boboo" bring more accurate, diverse, and personalized voice interaction experiences. In the previous gray - scale test, the user conversation retention rate of "Xiaoya" increased by 100%, and that of "Boboo" increased by 300%, showing high user stickiness.
Baidu Launches China's First Conversational Application Development Platform, "Miaoda"
36Kr learned that Baidu announced that China's first "conversational" application development platform, Miaoda, has been officially launched for all users. Users can automatically generate complete functional code by simply describing their requirements in natural language. At Baidu World Conference last November, Miaoda was first unveiled and proposed the concept of "multi - agent collaboration". It attracted more than 20,000 enterprises to apply for internal testing upon its release.
Huasuan Air - Conditioner Launches New "Smart - Painted Wind" Series, Saving up to 40% Energy
36Kr learned that on March 20, at AWE2025, Huasuan Air - Conditioner officially launched its new "Smart - Painted Wind" series. With three core functions of strong power - saving, high - volume wind, and remote intelligent control, it precisely meets the needs of mass consumers for high - efficiency energy - saving, strong wind feeling, and intelligent convenience of air - conditioners. It is understood that the "Smart - Painted Wind" series of Huasuan is equipped with the ECO3.0 energy - saving algorithm, which can save up to 40% energy in an 8 - hour operation state.
Today's Views:
36Kr learned that the 2025 Huawei Cloud Global Summit for Chinese Enterprises Going Global was held in Chongqing. At the meeting, Shi Jilin, the president of Huawei Cloud's global marketing and sales service, said that Huawei Cloud hopes to build a platform that is not only a platform for global technological innovation but also a platform for global ecological connection and a platform for integrating Chinese culture into global culture. "We look forward to all enterprises supporting and helping each other on this platform to jointly define the new global economic situation. Huawei hopes to use its 30 - year journey to illuminate the way for Chinese enterprises going global," Shi Jilin said.
Apple CEO Tim Cook Announces New Clean Energy Fund in China
36Kr learned that Apple CEO Tim Cook posted on Weibo, "We are proud to announce the launch of a new clean energy fund in China! Currently, two - thirds of our supply chain in China uses renewable energy. The new fund will further help us achieve our goal of 100% renewable energy operations by 2030."
Deng Taihua, Former Huawei Vice President, Joins Zhiyuan Robotics as Chairman and CEO
According to the National Enterprise Credit Information Publicity System website, recently, Shanghai Zhiyuan New Technology Co., Ltd. (Zhiyuan Robotics) underwent industrial and commercial changes. The company's registered capital increased to 80.458159 million yuan, and the legal representative changed from Shu Yuanchun to Deng Taihua. In addition, it was learned from informed sources that Deng Taihua has assumed the positions of chairman and CEO of Zhiyuan Robotics. Deng Taihua is the former vice president of Huawei and the former president of the computing product line. (China Securities Journal)
Other Noteworthy News:
Singapore's Core Inflation Rate Drops to 0.6% in February
The latest consumer price index (CPI) data released by Singapore's Statistics Department on March 24 showed that including accommodation and private transportation costs, the overall inflation rate in February was 0.9%, down from 1.2% in January. The core inflation rate in February was 0.6%, lower than 0.8% in January, hitting a new low since June 2021. (Jiemian)
Although the preliminary reading of France's HCOB Services PMI in March rebounded from 45.3 in February to 46.6, exceeding the expected 46.3 in institutional surveys, the index is still below the 50 - point boom - bust line, indicating a continuous contraction in service - sector activities. The preliminary reading of the manufacturing PMI also showed improvement, rising from 45.8 in February to 48.9, higher than the expected 46.5. The preliminary reading of the composite PMI in March, which combines services and manufacturing, was reported at 47.0, a significant rebound from the previous value of 45.1, but still in the contraction zone for the seventh consecutive month. S&P Global pointed out that French enterprises' expectations for business activities in the next 12 months have been further downgraded, and business confidence has reached the lowest level in nearly five years. (Sina Finance)
China Discovers First Hundred - Million - Ton Shale Oilfield in Zibo, Shandong
There has been a major breakthrough in oil and gas exploration in the Shengli Jiyang Shale Oil National Demonstration Area. In the Fanye Ping 1 block of the emerging oilfield in Gaoqing County, Zibo City, Shandong Province, the proven geological reserves of shale - layer oil reached more than 140 million tons, and the technically recoverable reserves reached 1.13599 million tons. This is the first shale oilfield with proven geological reserves of over 100 million tons approved and filed by the Ministry of Natural Resources. (The Paper)