Entering ChinaNO.1 The national subsidy for mobile phones is officially implemented! Huawei, Xiaomi, Honor, etc. are listed
Huawei, Xiaomi, Honor: In 2025, the national subsidy for mobile phones will be launched, and the reporter learned that from January 20, the national subsidies for the three major categories of mobile phones, tablets, and smart watches (bracelets) will be the first to be launched on Tmall. Users in Zhejiang, Jiangsu and cities can enjoy a 15% discount subsidy on the sales price when purchasing digital products such as mobile phones, tablets, and smart watches on the Tmall platform. Guangdong, Shanghai, Hainan, Chongqing, Shanxi, Jilin, Fujian, Sichuan, Inner Mongolia and other provinces and cities are being launched one after another. This time, brands including Huawei, Xiaomi, OPPO, OnePlus, vivo, Honor and other brands can enjoy government subsidies, and the discount is unprecedented. (Company E)
Comments: This will stimulate consumers’ desire to buy and promote the sales of digital products in the market, which is a major positive for the industry.
NO.2 Upgrade! Didi APP was launched for overseas travel
Didi: On January 20, Didi announced that the Didi Chuxing App has been upgraded to version 7.0 and launched a trial “overseas travel” function, supporting Chinese interface, online payment and Chinese customer service, making it convenient for users to hail taxis locally. From now on, the first phase of Didi’s overseas travel pilot service covers more than 80 popular tourist cities in South Korea, Singapore, Malaysia, Indonesia, Vietnam and other countries that jointly build the “Belt and Road”.
Comments: Didi APP has upgraded and opened overseas travel functions to help Didi’s global layout and enhance its competitiveness.
NO.3 The female president bought her company’s 141m² mansion! She has an annual salary of more than 10 million yuan and has been in office for less than 2 months
New World Development (HK00017, share price HK$4.25, market value HK$10.7 billion): Recently, Huang Shaomei, the new president of New World Development, one of the core assets of the Cheng family, one of the “four major families in Hong Kong” and known as the “four major real estate developers in Hong Kong”, bought the company’s luxury house out of his own pocket and spent HK$54.88 million, which attracted attention. Huang Shaomei has been in office for less than two months, with an annual salary of more than 10 million yuan. When she took over the reins of New World Development, the company’s top management was in turmoil, with the eldest son of the chairman of the board of directors, Cheng Chi-Kong, and his successor, Ma Siu-cheung, resigning as the company’s chief executive officer. (per synthesis)
Comments: This move may show confidence, but the high-level turmoil has also caused the market to worry about corporate governance.
NO.4 OpenAI: GPT-4o and 4o-mini model performance is degraded and is under investigation
OpenAI: At 11:54 on January 20, Beijing time, OpenAI released an accident report pointing out that it is currently experiencing the performance degradation of GPT-4o and 4o-mini models, and is currently under investigation, and will release the latest news as soon as possible. (Interface)
OpenAI CEO clarified: We will not be able to achieve AGI in the short term, and we will lower our expectations as soon as possible
Recently, rumors that OpenAI has achieved AGI have been rampant on the Internet. This type of speculation stems from some recent teasers from OpenAI employees, which have been interpreted by some AI enthusiasts as a sign that the company has broken through AGI’s technical barriers. In the face of the rising public opinion, OpenAI CEO Altman clarified the AGI rumors on Monday and said that the company will not launch AGI next month and that AGI technology has not been developed, and that the company has made some new progress, but cautioned the public to “lower expectations by a factor of 100”.
NO.5 60 billion big move! The “national team” shot
National Artificial Intelligence Industry Investment Fund: Tianyancha shows that the National Artificial Intelligence Industry Investment Fund Partnership (Limited Partnership) was established on January 17 with a capital contribution of 60.06 billion yuan. The partners of the fund include China Intelligence Investment (Shanghai) Private Equity Fund Management Co., Ltd. and China Integrated Circuit Industry Investment Fund Phase III Co., Ltd., and the executive partner is China Intelligent Investment.
Comments: This move demonstrates the determination of national support and injects strong impetus into the industry.
NO.6 Zhang Xuefeng issued 20 million year-end bonuses and performance
Fengxue Future: Recently, Zhang Xuefeng, a famous graduate school teacher, announced the year-end bonus and performance of the company’s Fengxue Future employees in the live broadcast, which attracted the attention of netizens. Zhang Xuefeng said that the company has about 350 employees, and a total of 20 million year-end bonuses and performance have been paid, “This is not a salary, the salary has been paid, (20 million) is the year-end bonus and performance.” According to this calculation, the year-end bonus and performance of Zhang Xuefeng’s employees are nearly 60,000 yuan per capita. Previously, Zhang Xuefeng had been on the hot search many times because of the promotion of his company’s benefits. (per synthesis)
Comments: This initiative is of positive significance for improving employee morale, attracting top talent, and shaping the company’s image.
NO.7 Walmart starts self-“adjustment”
Walmart (WMT, stock price $91.94, market capitalization $738.6 billion): Recently, Walmart has made frequent updates. On the one hand, the company’s headquarters announced that it had updated its trademark, and on the other hand, Walmart China opened two new-generation stores in Kunming, which are quite shadowy of supermarkets such as Sam’s and Hema . “The explosion of Wal-Mart stores is very similar to Fat Donglai. They do this to upgrade and make the single store run better. Walmart’s hypermarket format is facing the same dilemma as other traditional supermarkets, with the development of e-commerce channels being slow and the operational efficiency of single stores being low. Chain management expert Li Weihua told reporters. (Red Star News)
Comments: Whether this move can improve operational efficiency still needs to be tested by the market, but the determination to transform is worth affirming.
NO.8 The 1.855 billion yuan equity held by Nezha Automobile’s affiliated companies was frozen
Nezha Automobile: Recently, the website of the National Enterprise Credit Information Publicity System shows that Nezha Automobile’s affiliated company Hezhong New Energy Automobile Co., Ltd. has added two new equity freezing information, and the enterprises whose equity is executed are Yichun Hezhong New Energy Automobile Technology Co., Ltd. and Guangxi Ningda Automobile Technology Co., Ltd., with a total amount of more than 1.855 billion yuan in frozen equity, and the freezing period is three years, and the enforcement court is the Intermediate People’s Court of Zhuzhou City, Hunan Province.
NO.9 The former richest man in real estate in Putian, Fujian, was suspected of violating the law and committing crimes and was taken compulsory measures
Zhenro Real Estate (HK06158, share price HK$0.059, market value HK$259 million): On January 20, Zhenro Real Estate Holdings Co., Ltd. issued a bond announcement stating that Mr. Ou Zongrong, the actual controller of the company, has been taken compulsory measures in accordance with the law on suspicion of violating the law and committing crimes. At present, Mr. Ou Zongrong does not hold any position in the Company, such as director, supervisor or senior management. Ou Zongrong is the founder of Zhenro Group, born in Putian City, Fujian Province in 1964, and founded Zhenro Group in 1998. In the 2020 Hurun Report, Ou Zongrong became the richest man among Putian real estate businessmen with a wealth of 36 billion yuan. In just a few years, the company was caught in a debt spiral. As of June 30, 2023, Zhenro Properties’ offshore debt was interest-bearing approximately US$3.9 billion. (per synthesis)
NO.10 He Wenzhong, former member of the party group and deputy general manager of China Electronics Technology Group Co., Ltd., was prosecuted
China Electronics Technology Group: On January 20, the Supreme People’s Procuratorate notified that the case of He Wenzhong, former member of the party group and deputy general manager of China Electronics Technology Group Co., Ltd., who was suspected of accepting bribes, was investigated by the State Supervision Commission, and was designated by the Supreme People’s Procuratorate to be reviewed and prosecuted by the People’s Procuratorate of Zhangjiakou City, Hebei Province. Recently, the Zhangjiakou Municipal People’s Procuratorate has filed a public prosecution with the Zhangjiakou Intermediate People’s Court.
