Jinri Toutiao
MIIT: Strive to specialize in new SMEs this year 80,000
In 2022, the average number of new enterprises 23,800, and the number of small and medium-sized micro enterprises has exceeded 52 million. The relevant person in charge of MIIT said that this year will strengthen the policy to benefit enterprises, service to help enterprises, environmental living enterprises, and innovation and strong enterprises, and deeply implement the high-quality enterprise layer cultivation project. Strive to have more than 80,000 specialized and special new small and medium-sized enterprises in the country, and plan to cultivate about 100 characteristic industrial clusters of small and medium-sized enterprises to promote the high-quality development of small and medium-sized enterprises. (People’s Daily)
Hainan: Private enterprises successfully listed on the stock exchange will be rewarded with 5 million yuan
The General Office of the People’s Government of Hainan Province issued a number of measures to support the development of the private economy. The measures mentioned that before December 31, 2025, if an enterprise’s listing application is accepted by the China Securities Supervision Commission or the stock exchange, it will be rewarded with 1 million yuan; if it is approved or registered by the China Securities Supervision Commission and successfully issued on the stock exchange, it will be rewarded with 5 million yuan. (surging news)
Prohibit listed companies from investing in subject training institutions at the compulsory education stage
Recently, the Ministry of Education, the Ministry of Finance, the Ministry of Science and Technology, the Ministry of Culture and Tourism, and the General Administration of Sports jointly issued the Interim Measures for the Financial Management of Off-Campus Training Institutions, which clarified the financial obligations of organizers and the requirements for not withdrawing capital. At the same time, listed companies and foreign-invested compulsory education subject training institutions are prohibited, and primary and secondary schools are prohibited from organizing or participating in organizing training institutions. (CCTV)
Company News
Sudden! SHEIN may be at risk of being shut down in the United States
On March 26th, it was reported that SHEIN, a Chinese cross-border fast fashion brand, may be facing the risk of being shut down in the United States. According to market news, according to SHEIN’s user policy, when a user creates an account, SHEIN will identify the user as an individual importer. As long as the user’s order in SHEIN is less than $800, the order will not trigger the requirement to report to the US Customs and Border Protection. But in fact, according to SHEIN’s previously disclosed data, SHEIN is shipping billions of dollars worth of goods to the United States, and since each account holder is an individual importer, SHEIN avoids the tariffs that all other legitimate businesses must pay. On this grounds, SHEIN may be facing the risk of being called for by the Shut Down SHEIN Alliance. (Titanium Media)
BYD Auto announces boycott of online water army
BYD Automobile announced a joint boycott of the "Internet Water Army" chaos, saying that using the water army to attack opponents will not only elevate itself, but also damage the normal competition and cooperation environment of the industry. It is reported that the joint initiative enterprises of the initiative include FAW, Dongfeng, Changan, SAIC, BAIC, GAC, Chery, Jianghuai, Great Wall, Geely, BYD, NIO, Ideal, Xiaopeng, etc. (IT Home)
"We won’t build cars"! Ningde Times once again explained the "lithium mine rebate" plan
Zeng Yuqun, chairperson of Ningde Times, said that Ningde Times is promoting CTC and will do a good job for car manufacturers. Ningde Times will not build cars, but will continue to innovate business models and expand around the battery service field. Regarding the current progress of the "lithium mine rebate" plan, Zeng Yuqun said that he is advancing communication with long-term strategic customers; it is not a price reduction, but we have obtained some mineral resources and do not want to earn huge profits and share them with long-term strategic customers; Ningde Times’ own mines can cover the lithium equivalent involved in this operation, and will still maintain a reasonable profit level. (Beijing News)
ERNIE Bot employees’ salary has doubled, and AI talents are sought after by other companies
Recently, Baidu launched a large model ERNIE Bot, which has attracted market attention. More than 90,000 companies have applied for Baidu Intelligent Cloud ERNIE Bot API call service test. It is reported that the employees of the ERNIE Bot team have begun to be poached by friends. Headhunters said that Wenxin employees are wildly sought after. The price of employees has doubled in 3 years, and employees in 5-8 years are extra. The annual salary of millions is not a problem. (Times Finance)
Fat Donglai responded by setting up a submissive award: True, there are still 30 days of paid annual leave
On March 26, a picture of Fat Donglai’s salary package was circulated on the Internet, among which "40 days of paid annual leave" and "5,000-8,000 yuan submission award" caused heated discussions among netizens. In response, the staff of Fat Donglai Xinxiang Store responded that the company does set up a submission award. Ordinary employees have 30 days of paid annual leave, and management has 40 days. In addition, the company’s various benefits are very good, and the gifts for holidays far exceed the standards set by the company.
Fosun Group will invest in the construction of the Atlantis Cultural Tourism Project in Qingdao
On March 26, the investment promotion meeting of Shandong key cultural tourism projects was held at the Qingdao International Convention Center. Representatives from leading domestic cultural tourism enterprise groups were invited to attend the meeting. Cui Di, a global partner of Fosun and executive president of Fosun Hive, announced at the meeting that a new Atlantis project will be built in Qingdao. (Dazhong Daily)
Shanshan shares announced that the election of the new chairperson is legal and valid
Shanshan shares announced on March 26 that the company’s nomination and election of Mr. Zheng Ju as a non-independent director of the tenth board of directors of the company and the procedures for serving as the chairperson of the company comply with relevant laws and regulations and the relevant provisions of the company’s articles of association. After the death of Mr. Zheng Yonggang, the original actual controller of the company, the company’s shares and related interests will be subject to succession procedures in accordance with relevant laws and regulations. As of the date of this announcement, the company has not received any legally binding written documents or notices confirming the new actual controller of the company.
Cambrian: The company is not directly engaged in the development and sales of artificial intelligence end-use products
Cambrian released a change announcement. The company focuses on the research and development and technological innovation of artificial intelligence chips, and is not directly engaged in the development and sales of artificial intelligence final application products (such as ChatGPT-like applications). The related products are in the adaptation stage and have not yet generated revenue. At present, the company has not cooperated with Baidu on the "ERNIE Bot" project. Online rumors that Baidu "ERNIE Bot" has used the company’s products and other market rumors are not true.
China e-sports hotel breaks through 20,000, Xi’an over 620
In February 2023, the total number of e-sports hotel stores in the country exceeded 20,000, an increase of 3.12% month-on-month; the number of computer end points exceeded 620,000, an increase of 5.2% month-on-month; the average occupancy rate exceeded 60%, an increase of 7.06% month-on-month. The top 5 cities in the number of e-sports hotels are: Xi’an (over 620), Zhengzhou (over 520), Chengdu (over 510), Wuhan (over 500), Changsha (over 410). (IT Home)
The only COVID-19 antibody drug in China has been discontinued: Tengsheng Pharmaceutical voluntarily stopped after 8 months of commercialization
Recently, Tengsheng Boyao Biotechnology Co., Ltd. announced that it has decided to stop the production of novel coronavirus neutralizing antibody combination therapy drugs Ambavizumab Injection and Romisvizumab Injection developed by Tengsheng Huachuang Pharmaceutical Technology (Beijing) Co., Ltd. The ambavizumab/romisvizumab combination therapy drug is the first and only novel coronavirus neutralizing antibody combination therapy drug approved in China. (Surging News)
The price of dental implants in Beijing will be significantly reduced: the average price of 15 oral implant projects will be reduced by 72%.
Beijing issued the "Notice on Launching the City’s Oral Implant Medical Service Charges and Consumables Price Special Project Governance Work", which will simultaneously implement the "three-in-one" comprehensive treatment of oral implant medical service charges, implant centralized belt procurement, and crown price limit hanging nets from April 20. According to the "Notice", a total of 15 oral implant-related medical service items have been integrated and standardized this time, and the price level has dropped by an average of 72% compared with before the adjustment.
Federal Reserve: US banks lose nearly $100 billion in deposits in a week
Affected by the closure of many banks in the United States, American depositors’ confidence in the banking industry has been shaken, and they have begun to withdraw deposits from banks in large quantities. The deposits of American banks have lost nearly 100 billion US dollars in a week. The analysis pointed out that these figures reflect the strong demand for funds in the US banking industry after the "explosion" of Silicon Valley banks. As for the whereabouts of bank deposits, data show that as of March 22, the size of the US money fund market reached 5.12 trillion US dollars, a record high, and the inflow of funds reached 238 billion US dollars in two weeks.
Silicon Valley National Bank and First Citizen Bank are both bidding for Silicon Valley Bank
Silicon Valley National Bank and First Citizen Bank of the United States are both vying for Silicon Valley Bank after its collapse, according to people familiar with the matter. The two banks submitted bids to the Federal Deposit Insurance Corporation (FDIC) to buy Silicon Valley Bank before a Friday night deadline. The FDIC has not yet made a final decision, and the FDIC may choose to keep Silicon Valley Bank or sell it to another bidder. (Financial Associated Press)
Twitter says part of the source code was leaked online and has asked GitHub to remove it
According to reports, part of the Twitter source code was leaked, and the data has appeared on the network. On Friday local time, Twitter sent an infringing file to GitHub, asking GitHub to delete the leaked source code. GitHub has deleted the code, but it is not known how long the code has been on the Internet, possibly at least a few months. Twitter also asked the U.S. District Court for the Northern District of California to order GitHub to identify the code publisher and who downloaded it. Two people familiar with the matter said that Twitter has launched an investigation into the matter. (Sina Technology)
Google employees in Ireland could receive up to 300,000 euros in severance pay
Employees facing redundancies at Google’s parent company Alphabet’s operations in Ireland will receive severance pay, with the longest-serving employee receiving more than 300,000 euros ($322,790), according to The Times. According to reports, the compensation for each year of work of the laid-off employees is six weeks of salary. Under the plan announced in January, Alphabet will cut 12,000 jobs worldwide, including up to 240 jobs in the Irish operation. (Financial Associated Press)
Person Point of View
IMF chief: China’s contribution to world economic growth may exceed one-third this year
On March 26, at the 2023 annual meeting of the China Development Forum, Kristalina Georgieva, managing director of the international monetary fund (IMF), said that the rebound in China’s economic recovery means that in 2023 China’s economic contribution to the world economy will reach one-third or even more than one-third. She said that IMF analysis shows that every 1% increase in China’s GDP will boost the economic growth of other Asian countries by 0.3%. China’s recovery is now very solid and has very strong momentum.
Li Yanhong claims that the level of ERNIE Bot and ChatGPT is one or two months apart
Recently, Robin Li said in the live broadcast of Geek Park that ERNIE Bot is indeed not as good as the best ChatGPT version now, but the gap is not very big, it may be a difference of one or two months. ERNIE Bot is not slow to improve, but ChatGPT itself is also constantly being upgraded, and it is currently almost the level of ChatGPT in January this year.
Zhou Hongyi: The gap between China’s big language model and GPT-4 is in two or three years, and there may be consciousness after GPT-6
On March 25, Zhou Hongyi, founder of 360 Group, said that the gap between the technical level of China’s large language model and GPT-4 is 2 to 3 years. At present, the technical direction of GPT has been clear, and there are no insurmountable technical obstacles. Zhou Hongyi predicted that GPT6 to GPT8 artificial intelligence will generate consciousness and become a new species. (surging news)
Musk values Twitter at just $20 billion
According to the US "Information Network", Musk said in an email to Twitter employees on March 25 that he had offered stock awards to employees at a valuation of nearly $20 billion. This valuation is less than half of the $44 billion Musk paid for Twitter, indicating that Twitter’s market value is declining.
Cao Dewang claims that college students’ delivery is related to not learning anything
On CCTV Finance’s "Dialogue" Friends program on March 25, Cao Dewang, founder of Fuyao Group, said that many college students go to deliver food after graduation and do not go to work because they did not learn something in college. He said that studying at a domestic university seems to be easier than studying at an international university, and they graduate after four years.
The chairperson of CCB said that the era of buying a house, living and making money has passed
Tian Guoli, chairperson of China Construction Bank, said at a high-level forum on China Development held on March 25 that it was already difficult to earn financial attributes by buying a house. "Buying a house and then speculating, you can make money the next day, and you can live and make money," he said. "The era of enjoying the right to use all kinds of real estate, including housing, will increasingly become the main purpose."
Dalio: The world is "on the brink" or facing three "seismic" upheavals
On March 26, Ray Dalio, founder of Bridgewater Investments, said at the 2023 annual meeting of the China Development Forum that the world is "on the brink of danger" and may face three "seismic" upheavals. The three upheavals Dalio calls are the monetization of huge debts, that is, central banks print money to buy these debts, the second is the huge internal conflict caused by the gap in wealth and values, and the third is the conflict between international powers. Dalio believes that these three factors are now emerging at the greatest level since 1930-1945. (The Paper)
Capital Insights
Xiaomi Group’s net profit in 2022 was 8.50 billion yuan, down 61.4% year-on-year
Recently, Xiaomi Group released its fourth quarter and full-year financial results in Hong Kong stocks as of December 31, 2022. For the whole year of 2022, Xiaomi recorded revenue of 2800.44 billion yuan, down 14.7% year-on-year; recorded gross profit of 47.577 billion yuan, down 18.3% year-on-year; recorded adjusted net profit of 8.518 billion yuan, down 61.4% year-on-year. In 2022, Xiaomi’s smartphone business revenue was RMB 167.20 billion yuan, and global smartphone shipments were 150.50 million units. The average unit price of smartphones sold throughout the year reached 1111 yuan, a record high. (Financial Union News Agency)
Meituan fourth quarter revenue 60.13 billion yuan, net loss 1.08 billion yuan
Meituan’s fourth-quarter revenue was 60.13 billion yuan, and the market estimated 57.92 billion yuan. Meituan’s fourth-quarter net loss was 1.08 billion yuan, and the estimated loss was 1.53 billion yuan. Meituan’s full-year revenue in 2022 was 2199.5 billion yuan, 179.13 billion yuan in the same period last year, and the market expected 218.50 billion yuan; the full-year net loss was 6.69 billion yuan. (Sina Finance)
A 16-month-old AI company jumps into a $1 billion unicorn
Character.AI, a chatbot company founded by two former Google employees, said Thursday it has raised $150 million in a new round of funding led by well-known venture capital firm Andreessen Horowitz. The new investment values the 16-month-old Character.AI at $1 billion.
Abu Dhabi National Oil Company plans to IPO its maritime logistics subsidiary in June
The United Arab Emirates’ Abu Dhabi National Oil Company (ADNOC) plans to list its maritime and logistics subsidiary, ADNOC Logistics & Services, in the coming months, according to people familiar with the matter. ADNOC L & S ships crude oil, refined products, dry bulk and liquefied natural gas from Abu Dhabi to its international customers.
"Yishi Technology" completed hundreds of millions of RMB C round of financing
Frontier driverless solutions provider UISE Technology (Beijing) Co., Ltd. (hereinafter referred to as "UISE Technology") officially announced the completion of hundreds of millions of yuan in Series C financing, which was jointly invested by Dongfeng Asset Management and Chongqing High-tech Development and Construction Investment Group’s Heavy Technology Holdings.
Technology Foresight
For the first time in our country, solid hydrogen power generation is connected to the grid, and "green electricity" and "green hydrogen" are flexibly converted
Recently, the national key research and development project of solid-state hydrogen power generation grid-connected was first realized in Guangzhou and Kunming at the same time, which is also the first time in our country that photovoltaic power generation into solid-state hydrogen energy is applied to the power system. The 165 kg of hydrogen energy stored in the whole project can be continuously and stably output for 23 hours and generate 2300 degrees of power at the peak of electricity consumption, which will promote large-scale stable consumption of clean energy and accelerate the construction of a new power system. (Xinhuanet)
ChatGPT Update: Networked access to new knowledge, interacting with 5000 + apps
According to Qubit, OpenAI announced the launch of plug-ins that give ChatGPT the ability to use tools, network, and run calculations. For example, in the official demonstration, once ChatGPT is connected to the mathematical knowledge engine Wolfram Alpha, it no longer has to worry about the problem of inaccurate numerical calculations. And also open up two of OpenAI’s own plug-ins: a web browser and a code interpreter.
Lynk & Co 08 mid-size SUV officially unveiled
Lynk & Co’s new large 5-seat new energy medium-sized SUV, Lynk & Co’s 08, debuted in Shanghai on the evening of March 25. It is 4820/1915/1685mm in length, width and height, with a wheelbase of 2848mm. It is equipped with hidden door handles, uses 21-inch wheels, and has an open crystal green and Sunday silver color scheme. In terms of interior, Lynk & Co’s 08 is equipped with a 12.3-inch full LCD dashboard and a 15.4-inch floating central control screen. It offers a 92-inch AR-HUD system, with three interior color schemes, and Hamanka audio. (IT Home)
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