At the VivaTech conference, the largest event for technological innovation in Europe, Tesla CEO Elon Musk expressed his opinion, stating that artificial intelligence will eventually replace all human jobs. However, Musk believed this is not necessarily negative. At the same time, he also expressed concern about OpenAI and Google's Gemini project, criticizing these companies for training AIs that do not strive for truth to the fullest extent but tend to pursue political correctness. He described this practice as training artificial intelligence to lie and considered it extremely dangerous for human society.
On the other hand, according to British media reports, the latest high-bandwidth memory (HBM) chips released by Samsung Electronics have not passed the tests for artificial intelligence processors by the American company Nvidia, with main issues being the chips' heat dissipation and power consumption. In response, Samsung Electronics stated that the claims about their chips failing the tests due to heat and power consumption issues are false.
The market is optimistic about the prospects of artificial intelligence chips. Nevertheless, there have been reports that Nvidia's AI chips are experiencing slow sales in China and have been forced to reduce their prices. An insider from the semiconductor industry pointed out that Nvidia's H20 chip is intended to replace the H100 model. Currently, there is a sufficient supply of H100 chips, and demand has returned to rational levels, leading to pricing adjustments. Despite rumors of price reductions, Nvidia has not issued an official response.
In the e-commerce sector, the Tmall 618 mega-sale event kicked off. Reportedly, since the beginning of the event, new merchants have performed well, with 200 new merchants achieving a turnover of over one million yuan within just three days, and the overall turnover increased by 223% compared to the same period.
In the field of educational technology, Xiaodu announced the upcoming global release of the first learning machine based on Baidu's Wenxin large model. The unveiling is scheduled for an online event on May 27, aiming to redefine the AI teaching domain.
The automotive industry is also drawing attention. Huawei's Yu Chengdong revealed on social media that the upcoming unveiling of the new M7 Max, refreshed version, will be equipped with the same 192-line lidar as the Avatar M9, with the event scheduled for May 31, 2024. Xiaomi Auto announced that its car factory will begin operating on a double-shift mode to ensure the delivery of over 10,000 units in June alone and is committed to delivering over 100,000 units throughout 2024, striving to reach the target of 120,000 units. BYD, on the other hand, stated that it has filed a lawsuit and is seeking 5 million yuan in damages against car blogger Yao Qiang for the oil consumption test video he posted on social media regarding the BYD F5 Suri.
A social news event that has attracted attention demonstrates the combination of public power and responsibility. According to reports, a netizen, after watching a test video, noticed a vehicle's traffic violation and reported it to the traffic police department. During the subsequent police investigation, the vehicle manufacturer BYD retrieved the operating data of the vehicle, which showed a large number of abnormal driving behaviors on the day of the test. It was confirmed that the driver, Yao * Qiang, not only posed a potential risk to public road safety but also seriously damaged the reputation of the BYD F5 Suri brand and the Suri 5 product with his false claims about the oil consumption test results. Consequently, BYD decided to take legal action against the driver Yao * Qiang, demanding a public apology and compensation for 5 million yuan in damages.
Meanwhile, at the other end of the automotive industry, important business activities are also advancing. Zhou Hongyi, a famous entrepreneur dressed in red, "sold the Maybach, embraced new energy." As one of the first owner representatives, he attended the delivery ceremony of the domestically-produced new energy vehicle—Ji Ke 009 Glory Model on May 24th. When talking about the reason why he chose this car, Zhou emphasized that "safety is the ultimate luxury." An Conghui, President of Geely Holding Group and CEO of Ji Ke Intelligent Technology, expressed that vehicle safety is always the primary standard by which Ji Ke assesses cars.
On the same day, the connection between 360 Group and Ji Ke became even tighter. The two signed a strategic cooperation agreement, with 360 Group providing technical support for Ji Ke in the digital construction and intelligent transformation of new energy vehicles. In ensuring the digital security of the car company itself as well as vehicle cockpit data and privacy safety, the two companies will cooperate fully in the field of security. At the same time, in the aspect of big data models, they plan to jointly develop intelligent cockpit human-machine interaction solutions, and improve the operational management efficiency of the car company, aiming to create a full life-cycle safety and intelligent experience.
In the electric vehicle industry, another strategic cooperation is also actively advancing. On May 24th, Nezha Automobile and CATL signed a comprehensive strategic cooperation agreement in Shanghai for a duration of ten years. According to the agreement, Nezha Automobile will select CATL as its preferred partner for automotive power battery suppliers. CATL will provide Nezha Automobile with competitive power battery products and services. At the same time, both parties will also carry out in-depth cooperation in multiple areas such as low-carbon technology, CIIC integrated intelligent chassis, charging solutions, Vehicle-to-Grid (V2G), battery recycling, and expansion in domestic and international markets. In addition, the Nezha S SUV model, equipped with the CIIC integrated intelligent chassis and 800V high voltage fast charging technology jointly developed by Nezha Automobile and CATL, is expected to come to market within the year, indicating that Nezha Automobile will reach new heights in terms of driving range, intelligent driving, safety performance, and ease of use.
On the other hand, the issue of automotive safety continues to be the focus of people's attention. In Changzhou, Jiangsu, a Tesla sedan caught fire at a Supercharger station, fortunately without causing any casualties. In response, staff at Tesla's 4S shop stated that the fire was not a spontaneous combustion of the vehicle, and the details are waiting for an official further response.
Keeping pace with industry developments, Ideal Automobile's Jiangsu Xindian company also underwent a capital appreciation. According to recent business change records, the registered capital of Jiangsu Xindian Interactive Automobile Sales Service Co., Ltd. increased from 3.851 billion Chinese yuan to 4.601 billion Chinese yuan.
Founded in May 2017, the company, with Liu Jie as the legal representative and Li Xiang as the executive director, reveals through its equity structure that LEADING IDEAL HK LIMITED under Ideal Automobile holds all of its shares.
Tesla CEO Elon Musk publicly opposed the U.S. trade tariffs on Chinese electric vehicles. At the Vitatech Tech Summit, Musk connected to investors via video and expressed his view that such tariff measures would distort the market.
Shanghai Disney Resort is about to change its ticket pricing system for Shanghai Disneyland, starting from November 24, 2024, tickets will be adjusted according to a new six-tier pricing structure. This means new ticket prices will include different levels such as 475 yuan, 539 yuan, 599 yuan, 659 yuan, 719 yuan, and 799 yuan.
The Japanese convenience store brand Lawson plans to delist in July, a decision that has raised external concerns about its operations in China. However, the president's office of Lawson China has stated clearly that the company's day-to-day operations in China will not be affected. This is just part of Lawson's internal stock ownership changes and investment strategy adjustments in Japan.
There have been recent rumors online that Starbucks will implement a "purchase before seating" policy, which has attracted widespread attention. In response, Starbucks' official customer service confirmed the policy, adding that if customers do not make a purchase, employees will politely ask them to leave but will not force them to do so.
Looking to the future pricing strategy of the coffee chain brand Cudy Coffee, Chief Strategy Officer Li Yingbo announced the company is prepared to implement a long-term promotion with all drinks priced at 9.9 yuan for three years. Li Yingbo revealed that the company hopes to foster the coffee consumption market as well as ensure franchisees receive reasonable returns through dual subsidies via the client-end and franchise partners. Besides, Cudy also announced the extension of its store subsidy policy until the end of 2026 and the launch of a summertime promotion with all drinks priced at 9.9 yuan.
Mondelēz International, the producer behind famous brands Oreo and Cadbury, has been heavily sanctioned for inappropriate conduct in the European market. According to recent reports, the company's practices in the EU market have been sanctioned, resulting in a hefty fine of 337.5 million euros, equivalent to about 2.64 billion yuan. The European Commission has been investigating Mondelēz International's activities since 2019 and initiated formal proceedings in 2021. The investigation found that the company prevented retailers from freely purchasing products at lower prices between EU member states, which violated EU laws and harmed the consumer rights in several countries including Austria, Belgium, Bulgaria, and Romania, leading to higher prices of products like chocolate bars in these countries.
In the lottery market, the widespread shortage of scratch-off lottery products has attracted broad attention. Recently, there has been an increase in discussions about the shortage of scratch-off tickets online, with numerous netizens reporting difficulties in finding scratch-off lottery tickets and clearly feeling the situation of supply not meeting demand. The China Welfare Lottery Center, when interviewed by reporters, said that there is currently high demand for instant tickets in the market, but production and supply are insufficient, requiring time to alleviate this condition. To this end, the China Welfare Lottery Center is gathering information on the situation and is guiding provincial and municipal lottery agencies to improve mechanisms to ensure the supply of instant tickets like scratch-off games. Similarly, the China Sports Lottery Center also acknowledged the current tight supply situation, stating that it was due to the popularity of the instant lottery ticket category.
Huaxi Securities recently released investment research information that mentions the suspension of the company's sponsorship business may have a negative impact on various aspects of the company. This includes rating classification, financial financing capabilities, and company reputation. The company cannot continue to fulfill some of the sponsorship business that is pending issuance or under review, and customer expansion activities may also be affected. In order to mitigate this impact, Huaxi Securities will enhance customer service, ensure that projects in hand are properly handled, avoid generating a chain of negative social impacts, and has set up a special team to monitor and respond to the negative public opinion that may arise from the suspension of the sponsorship business.
Bosera Funds Management Co., Ltd. has experienced a change in senior management. According to the latest announcement from the Shanghai Stock Exchange, Zhang Dong has officially taken over as the General Manager of Bosera Funds, ending the situation where the company's Chairman Jiang Xiangyang held the dual role of General Manager. Zhang Dong has nearly thirty years of banking experience, mainly working at China Merchants Bank. This personnel change occurred after the former General Manager Gao Yang resigned in November last year for personal reasons.
Gree Electric Appliances invests in establishing a new equity fund to further expand its business scope. It has recently set up an equity investment fund partnership called Zhuhai Gekin No.9, with a registered capital of 2.01 billion yuan. The fund's main business activities cover private equity funds, equity investments, and asset management, with Zhuhai Gree Equity Investment Fund Management Co., Ltd. as the executive partner.
Enterprise Investment Composition Reveal:
Through the disclosure of related partners' information, it is known that Zhuhai Gree Financial Investment Management Co., Ltd., Zhuhai Xingge Capital Investment Co., Ltd., and Zhuhai Gree Equity Investment Fund Management Co., Ltd. have jointly invested in a certain enterprise.
Guangzhou R&F Properties bond trading suspended:
Guangzhou R&F Properties announced that in order to better arrange for the subsequent debt repayment plan and ensure the openness and transparency of information, from May 27th, 2024, six of the company's bonds, including H16 R&F 4, will be suspended from trading.
Gemdale Group's mid-term note principal and interest payment:
The latest news is that Gemdale Group has completed the payment of 20.744 billion yuan in mid-term note principal and interest as scheduled. On May 24th, this amount was transferred to the mid-term note repayment special account to pay the principal and interest of the mid-term note "21JindiMTN004" due on May 27th. Gemdale Group explicitly stated that after fulfilling the current debt repayment, since the beginning of the year, the company has fully repaid more than 12 billion yuan of debt in the public market, successfully navigating through the peak of debt repayment and ensuring credit safety.
China Mobile's Artificial Intelligence Bases Open to the Public:
China Mobile announced at its Artificial Intelligence Ecosystem Conference that it is opening three major artificial intelligence bases to the public: the Large Model Training Base, the Large Model Evaluation Base, and the Large Model Industry Innovation Base. These bases will provide a one-stop AI industry promotion service for the whole society, which includes everything from model training to proliferation, as well as the incubation of AI-native applications. The purpose is to accelerate the industrialization and scaling process of AI technology.
China Mobile Launches Computing Centers:
At the 7th Digital China Summit, China Mobile's Chairman Yang Jie mentioned that the company is accelerating the creation of its computing network infrastructure, key technologies, and product and service systems. The company’s nationwide computing scale has reached 17EFLOPS, and there are plans to construct several computing centers with over ten thousand cards within the year. With the support of the national computing network, the goal is to make computing power as easy to access as water and electricity, instantly available, and distributed on demand, thus becoming a societal-level service.
Boeing's Aircraft Deliveries to China Delayed:
According to media reports, due to the scrutiny of the battery in the cockpit voice recorder by Chinese regulatory authorities, Boeing's aircraft deliveries to China are facing delays. Boeing is negotiating with Chinese customers over the delivery schedule, and the matter is receiving attention from the Civil Aviation Administration of China.
Boeing Faces a Long-Term Effort to Resolve Safety Issues:
The head of the U.S. Federal Aviation Administration said that Boeing is facing a long-term effort in resolving safety issues, with the corrective measures it is about to submit being just the beginning of the entire safety improvement process.
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