Krypton Evening News | Douyin is piloting a new rule: Information that may trigger events such as "unboxing personal information" will be included in the research, judgment, and handling of "controversial" hot topics; Tmall's "Green Living" has joined hands with the China Green Foundation and Ant Forest to launch the "Ancient and Famous Tree Protection Plan"; India announced that it has surpassed Japan to become the world's fourth-largest economy.
Large Companies:
SF Group and Shanghai Disney Resort Announce Multi - year Strategic Alliance
36Kr learned that according to the official WeChat account of SF Group, SF Group and Shanghai Disney Resort announced a multi - year strategic alliance agreement. SF will become the official partner for express and logistics services at Shanghai Disney Resort. SF will support the increasing delivery needs of Shanghai Disney Resort through intelligent logistics solutions, further improving the efficiency and service experience of tourists' shopping and the daily operations of the resort.
36Kr learned that Douyin released the "Rules for the Governance of Community Hot Information and Accounts (Trial)". In the future, Douyin will crack down on acts such as spreading false information, maliciously hyping for improper profits, impersonating or cyberbullying hot - spot parties in accordance with laws and regulations. To reduce the misleading of users by one - sided information when the facts are incompletely disclosed, the "Rules" propose that the platform will establish a hierarchical and classified tracking and assessment mechanism for community hot information. Hot content with incomplete news elements and no authoritative sources will be included in the "doubtful" hotspots for continuous tracking, and information that spreads extreme and opposing emotions, violates the rights of the parties involved, and may trigger events such as "cyberbullying" and "doxxing" will be included in the assessment and handling of "controversial" hotspots.
According to the electronic disclosure system of the Financial Supervisory Service of South Korea on May 27, South Korean entertainment giant HYBE will sell all its shares in SM Entertainment to a Hong Kong - based subsidiary of Tencent Music Entertainment Group (TME) through an off - market block trade after the market closes on the 30th of this month. The transaction amount is approximately 243.3 billion won (approximately equivalent to 1.29 billion yuan). After the completion of this transaction, HYBE will completely withdraw its investment in SM Entertainment, and Tencent Music Entertainment Group will leap to become the second - largest shareholder of SM Entertainment, second only to Kakao. (Jiemian)
Xiaohongshu Reaches an "AI + Humanities" Cooperation with Fudan Philosophy
36Kr learned that Xiaohongshu and Fudan Philosophy announced a cooperation in AI humanities training. Xiaohongshu's hi lab and the School of Philosophy of Fudan University jointly established an "AI Humanities Talent Training Camp" to carry out co - creation of humanities topics related to post - AI training and cultivate compound talents in "AI + Humanities".
36Kr learned that Tmall launched a new ESG special IP, "Tmall Green Living". In the first phase, it launched the "Ancient and Famous Tree Protection Plan" in collaboration with the China Green Foundation and Ant Forest. It coordinated with green - concept brands such as Midea, Yili, FILA, and Chando to invest one million yuan to promote green consumption.
WeRide Enters the Saudi Arabian Market
36Kr learned that on May 27, autonomous driving technology company WeRide announced its market expansion strategy for Saudi Arabia, marking a further expansion of the company's global commercial map. As the first step in entering the Saudi Arabian market, WeRide has tested and deployed autonomous driving products such as Robotaxi, Robobus, and Robosweeper in key Saudi Arabian cities such as Riyadh and AlUla, laying the foundation for the company's large - scale commercial operation across Saudi Arabia in the future.
36Kr learned that Zhongke Sugon stated in the investor relations activity record that the US sanctions have brought certain external challenges to the company's operations. The company will continue to increase R & D spending, strengthen its self - research capabilities, increase R & D investment in areas such as localization, enrich product types, increase the proportion of high - value - added service revenue, build a systematic information technology infrastructure from the bottom to the application, and improve the industrial ecosystem. In addition, through the merger of the company and Hygon Information, the two sides will pool their core advantages to jointly invest in the R & D of high - end chips and solutions. They will use more competitive integrated technology solutions to improve customer satisfaction with products and services, further promote the large - scale application of domestic chips in key industries such as government affairs, finance, communications, and energy, and promote the healthy development of China's information industry.
Today's Views:
On May 27, Zhu Huarong, Chairman of Changan Automobile, said at the company's 2024 annual general meeting of shareholders: "Currently, the capital market and all sectors of society are becoming more rational in investment, and the development of automobile companies is becoming more stable. It is expected that in no more than 2 years, the industry will return to a relatively benign competitive environment." Regarding the recent speech of Wei Jianjun of Great Wall Motor, Zhu Huarong said: "Mr. Wei's (Wei Jianjun) speech is a reminder to the industry, just like 'the stock market is risky, investment should be cautious'. Changan Automobile will carefully analyze risks at home and abroad." (Yicai)
36Kr learned that Wang Ying, Managing Director of Corporate Ratings in the Asia - Pacific region at Fitch Ratings, said that the real estate market in China's key cities generally shows a trend of stabilizing at the bottom. From January to April this year, the transaction volume of new and second - hand houses increased both year - on - year and month - on - month. In terms of the transaction structure, improvement - oriented demand has become an important support for the new - house market, and the proportion of transactions of units larger than 120 square meters has increased. The prices of second - hand houses in first - tier cities have fluctuated and show signs of bottoming out. Although Fitch has not changed its forecast set at the end of last year that the sales area and average sales price of new houses in 2025 will decline by about 10% and 5% respectively year - on - year, if the macro - support policies continue to be effective and the recovery of the property market in key cities continues, it may make a positive adjustment in the next few weeks.
Other Noteworthy News:
India Announces: It Has Surpassed Japan to Become the World's Fourth - Largest Economy
NITI Aayog, a policy think - tank supported by the Indian government, said that India has surpassed Japan to become the world's fourth - largest economy. The CEO of the think - tank, Subramanian, said at a recent press conference that India's economic scale has grown to 4 trillion US dollars, second only to the United States, China, and Germany. (Cailian Press)
The UK Government Shifts to Short - Term Borrowing, Reducing Reliance on Long - Term Borrowing
The Financial Times reported, citing Jessica Pulay, head of the UK Debt Management Office, that the UK is reducing its reliance on long - term borrowing due to the decline in demand from institutional investors. Pulay said that "there has been a significant shift in the relative proportions this year", that is, from long - term UK government bonds to short - term bonds. This move reflects the Debt Management Office's analysis of the value for taxpayers, taking into account the "declining intensity" of demand for long - term bonds. (Sina Finance)
36Kr learned that on May 20, the Theoretical Learning Center Group of the Party Committee of the National Administration of Financial Regulation held a collective learning and special research activity on the theme of "Thoroughly Studying and Implementing Xi Jinping's Economic Thought, Effectively Doing a Good Job in the 'Big Article' of Technology Finance and Digital Finance, and Promoting the Development of New Qualitative Productivity Such as Artificial Intelligence". Li Yunze, Secretary of the Party Committee and Director of the National Administration of Financial Regulation, led the learning and research, and members of the Party Committee's central group participated. Li Yunze presided over the special exchange activity and gave a summary speech, emphasizing that the financial sector should actively respond to the new situation of the rapid evolution of the new generation of artificial intelligence technology, keep up with the global development trend and application frontiers of artificial intelligence in a timely manner, grasp the development trend and laws of artificial intelligence, strengthen the research and formulation of policies related to the development and regulation of digital finance, accelerate the digital and intelligent transformation of supervision, steadily promote the application of artificial intelligence in the financial field, and effectively prevent and respond to the risks and challenges brought by the development of artificial intelligence. It is necessary to give full play to the role of finance in serving the real economy, continuously improve the technology - finance system and mechanism that is compatible with scientific and technological innovation, focus on improving the technology - finance service system, deepen the technology - finance pilot projects, adhere to self - reliance and self - improvement, and better serve and promote the healthy and orderly development of China's new qualitative productivity such as artificial intelligence in a beneficial, safe, and fair direction.
36Kr learned that the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the National Data Administration issued a notice on printing and distributing the "Implementation Plan for the Digital Transformation of the Electronic Information Manufacturing Industry". It mentioned strengthening the construction of new information infrastructure. Coordinate the development of the advanced computing industry, accelerate the integration and connection of networks, data, computing power, and algorithms, promote the innovative development of high - performance computing, intelligent computing, and cloud - edge - end collaborative computing, improve the network layout of edge computing centers, and build new information infrastructure with high reliability, high performance, and wide connectivity. Promote the in - depth empowerment of the electronic information manufacturing industry by the new information infrastructure, and accelerate the large - scale application of advanced computing, 5G - A, gigabit optical networks, industrial Internet, and artificial intelligence in the electronic information manufacturing industry.