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big company:

Collective price cuts, new tea drinks return to the "10 yuan era"

Recently, many leading brands such as Heytea, Shuyi Shaoxiancao, Guming, Chabaidao, and Mixue Bingcheng have lowered prices by adjusting menus and issuing coupons, and are fighting for the "10 yuan price range". According to Red Can Big Data, from 2020 to 2023, the proportion of new tea brands priced below 10 yuan will increase from 7.1% to 29.6%, while the proportion of those priced above 20 yuan will decrease from 32.7% to 3.6%. The once controversial "30 yuan era of milk tea" seems to be a thing of the past.

Citigroup appoints new head of Asia markets financing

Citigroup said in a statement that it has appointed Ed Huntsman as head of market financing for Japan, North Asia, Australia and South Asia. Huntsman will move from London to Hong Kong to promote the development of Citigroup's fixed income client financial solutions.

Microsoft technical failure may cause global losses of more than $1 billion

On July 21, local time, the US media reported that Patrick Anderson, CEO of the US research institution Anderson Economics Group, estimated that the economic losses caused by the Microsoft technical failure incident are likely to exceed $1 billion. However, the report said that it is still unclear whether "Zhongji" will pay for the related losses. Although "Zhongji" has apologized, it has not responded to the US media's inquiries on whether it will compensate the affected customers. Some analysts pointed out that there may be exemption clauses in the contracts signed between "Zhongji" and its customers, which can allow it to avoid compensation.

Musk said that users will be allowed to use the FSD function while wearing sunglasses, starting from version 12.5

Tesla CEO Elon Musk told video game developer John Carmack on X last Saturday that starting with the upcoming version 12.5, the company's Full Self-Driving (FSD) technology will allow users to use the feature while wearing sunglasses. FSD's attention monitoring system currently doesn't work well with sunglasses because it tracks the user's eye movements to ensure that the user is paying attention to the road and is ready to take over when needed. However, Musk said that with version 12.5 of the software, this problem should be solved.

The number of registered users of King of Glory International Server has exceeded 50 million, and the number of downloads in June increased by 6.6 times

36Kr learned that recently, Honor of Kings (HoK) announced that the number of registered users worldwide has exceeded 50 million. According to SensorTower data, the growth rate of HoK downloads since June has surged to 6.6 times that of May, and the growth rate ranks first in the category in the local Southeast Asian market. In addition, the second season of the Honor of Kings Intercontinental Invitational was recently held offline in Kuala Lumpur, Malaysia. Esports charts data shows that the viewing volume of S2 has increased by 300% compared with the previous period.

Delta Airlines cancels 5,000 flights, still facing IT problems

Delta Air Lines struggled to return to normal operations on Sunday after suffering a severe global cyber attack last week, canceling 1,250 of its 3,500 scheduled flights. Flight tracking website Delta said it has not yet announced a timetable for returning to normal operations and has canceled another 305 flights on Monday, bringing the total number of flight cancellations the company has made since Friday to more than 5,000.

Kim Beom-soo, founder of Kakao, faces arrest review

According to foreign media reports, on July 22, Kim Beom-soo, the founder of South Korean Internet company Kakao, was subject to a review of the necessity of arrest for allegedly manipulating the stock price during the acquisition of SM Entertainment. The results of the review are expected to be announced as early as that evening.

New product:

DeepBlue Aerospace's Nebula-1 rocket's first-stage three-engine parallel full-time power system series test run was successful

36Kr learned that on July 21, the Nebula-1 rocket independently developed by Deep Blue Aerospace completed a series of tests of the first-stage three-engine parallel full-time power system at the Deep Blue Jigang Test Base in Jinan. This test simulated the full working conditions of high-altitude recovery flight and a large range of engine variable thrust test. After the test, the entire system including the engine, landing legs and grid rudder was checked and confirmed to be in good condition.

Nvidia is reportedly preparing a flagship AI chip for the Chinese market

Nvidia is reportedly developing a new flagship AI chip for the Chinese market that complies with current U.S. export controls, according to sources. Nvidia released its "Blackwell" chip series in March and will go into mass production later this year. In the series, the B200 is 30 times faster than its predecessor in certain tasks, such as providing answers to chatbots. Sources said Nvidia will work with its Chinese distributor partners to launch and distribute the chip, tentatively named "B20."

Investment and Financing:

China's voluntary greenhouse gas emission reduction trading market has opened more than 4,500 accounts in half a year

Xu Huaqing, chief scientist of the National Center for Climate Change Strategy Research and International Cooperation, introduced in Wuhan on July 21 that in the six months since the national voluntary greenhouse gas emission reduction trading market was officially launched, more than 4,500 accounts have been opened.

The stock ETF market has attracted more than 100 billion yuan since July

Wind data shows that as of July 19, the total scale of 908 stock ETFs (including cross-border ETFs) in the market reached 2.29 trillion yuan. The total market share of stock ETFs increased by 6.854 billion shares. According to the average transaction price in the range, the net inflow of funds was about 31.14 billion yuan. Among the sub-categories, the net inflow of broad-based ETFs ranked first, reaching 32.778 billion yuan, and the net inflow of Hong Kong stock ETFs was also relatively large, reaching 977 million yuan.

Today's Viewpoint:

Hangzhou: Strive to achieve a total marine output value of 340 billion yuan by 2030, accounting for 10% of GDP

36Kr learned that the "Implementation Plan for the Double Action Plan for High-quality Development of the Marine Economy in Hangzhou" has been issued recently. It proposes to take high-quality development of the marine economy as the main line, adhere to scientific and technological innovation as the driving force, and accelerate the construction of a modern marine industrial system with international competitiveness. It is hoped that by 2030, the total volume of the marine economy will double, the gross marine product will reach 340 billion yuan, accounting for 10% of GDP, and the added value of the marine digital economy will reach 20 billion yuan. One 100 billion-level, three 10 billion-level, five potential and X future marine industries will be created, and efforts will be made to build an influential national source of marine science and technology innovation, a highland of marine talents, and a demonstration city of marine digital economy.

Other news worth noting:

The national supply and marketing cooperative system accelerates the construction of agricultural material network system

It is learned from the China National Federation of Supply and Marketing Cooperatives that the national supply and marketing cooperative system will accelerate the construction of the agricultural inputs network system, strive to basically complete the construction of a national supply and marketing cooperative modern agricultural inputs network system by 2028, and achieve full coverage of agricultural inputs supply in major grain-producing counties across the country.

LPR is lowered again, and the industry predicts that the reduction of existing mortgage interest rates will be put on the agenda in the second half of the year

On July 22, the People's Bank of China authorized the National Interbank Funding Center to announce the loan market benchmark rate (LPR) on July 22, 2024. The one-year LPR is 3.35%, and the LPR for more than five years is 3.85%. Both the one-year and five-year LPRs have dropped by 10BP from the previous month, setting a new historical low. In addition to benefiting new home buyers, this adjustment of the LPR will also benefit families who are repaying their loans. Li Yujia, chief researcher of the Guangdong Housing Policy Research Center, said, "Of course, the current high-profile interest rate cuts on existing mortgages actually refer more to a reduction in basis points. If the difference between the current new mortgage interest rates and the early existing mortgage interest rates continues to increase, it may put the work of reducing the interest rates on existing mortgages on the agenda in the second half of the year."

Han Zheng to attend opening ceremony of Paris Olympics

Foreign Ministry spokesman Mao Ning announced that at the invitation of host France and the International Olympic Committee, Vice President Han Zheng will visit France as the special representative of President Xi Jinping to attend the opening ceremony of the 33rd Olympic Games to be held in Paris on July 26 and other events.

US President Biden announces withdrawal from 2024 presidential election

On July 21, local time, US President Biden announced his withdrawal from the 2024 presidential election. In a letter posted on his personal social media that day, Biden said that he had intended to seek re-election, but in the best interests of the Democratic Party and the United States, he decided to withdraw from the presidential campaign and will focus on completing his presidential duties during his term. Biden said he would explain his decision in detail to the country later this week. After announcing his withdrawal, Biden said he would fully support and recognize US Vice President Harris' nomination as the Democratic presidential candidate.