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big company:Yu Minhong responds to Dong Yuhui's 140 million yuan reward

On July 26, New Oriental Chairman Yu Minhong responded at the Oriental Selection Shareholder Exchange Meeting, asking why the 140 million yuan profit that should have belonged to Oriental Selection was awarded to Dong Yuhui? The decision was proposed by Yu Minhong and discussed by the board of directors. It was mainly based on two reasons: Yuhui has made great contributions to the development of Oriental Selection. When he goes out completely independently, we give him a reward to express our goodwill and hope to pass it on to the society. When we talked about the guaranteed income, there was a plan for additional equity issuance. But by the end of February when we discussed independence, the equity issuance was meaningless. Because of the equity distribution of listed companies, if the work period has not expired, the equity will be taken back. Since Yuhui has continued to contribute to the development of the company in the past six months, it is reasonable to provide some cash subsidies. We convey this goodwill to help Yuhui's future development and put a perfect end to Yuhui's contribution to Oriental Selection for more than two years. (Interface) Original link

Apple iPhone fell out of the top five in China's mobile phone market share in the second quarter, the first time in four years

Apple's share of China's smartphone market fell in the second quarter as local rivals such as Huawei surged ahead. According to market tracker IDC, iPhone shipments fell 3.1% during the period, while Android phones as a whole grew 11% year-on-year. This means that Apple is no longer among the top five manufacturers in China's mobile phone market share, marking the first time in four years. Market research firm Canalys also reported that iPhone shipments in China fell 3.9% in the quarter. (Sina Finance) Original link

MINISO's giant poetry scroll matrix debuts in Paris to cheer for Chinese athletes

36Kr learned that on July 25, a matrix of giant Chinese poetry scrolls created by MINISO appeared on the banks of the Seine to cheer for Chinese athletes. Previously, MINISO's largest flagship store in Europe opened on the Champs-Elysées in Paris, France, becoming the first Chinese brand to enter the Champs-Elysées in Paris. This is MINISO's further high-potential store layout in the center of Paris after opening its first store in Paris next to Galeries Lafayette in 2020.

Meta faces huge EU antitrust fine for allegedly abusing market dominance

Meta Platforms Inc. is facing its first fine from the European Union for allegedly abusing its dominant position in the classifieds market by bundling Facebook Marketplace with its social network. As part of an EU order to be issued in the coming months, the European Commission may also require Facebook to create a separate classifieds platform, according to people familiar with the matter. Allow users to log in to Facebook Marketplace without going through the social media platform. (Sina Finance) Original link

Chalk: Net profit in the first half of the year is expected to be no less than 255 million yuan, a year-on-year increase of 212.9%

36Kr learned that on July 25, Fanbi released a mid-term profit forecast, expecting the group to record revenue of no less than RMB 1.61 billion for the six months ending June 30, 2024; record a net profit of no less than RMB 255 million, an increase of no less than 212.9%; and record an adjusted net profit of no less than RMB 327 million, an increase of no less than 13.5% compared with RMB 288 million in the same period last year.

Lenovo Group appoints new CTO

36Kr learned that today, Lenovo Group announced the appointment of Dr. Tolga Kurtoglu as the new CTO. It is understood that Dr. Tolga Kurtoglu previously served as CTO of HP, CEO of PARC (Palo Alto Research Center), and led Xerox Global Research Institute. In addition, Lenovo also announced the establishment of a new Emerging Technology Group, which is responsible for predicting emerging technology trends and converting them into future business growth opportunities. Dr. Rui Yong became the president of the Emerging Technology Group.

Lei Jun spends more than 800 million yuan to acquire more land near the Xiaomi car factory in Beijing

Xiaomi has won the right to use a piece of land next to the Xiaomi Auto Factory in Beijing. According to the Beijing Economic and Technological Development Zone Development and Construction Bureau on July 25, the listing and transfer of the state-owned construction land use rights for the industrial project of Block 0106 in Block YZ00-0606 in Yizhuang New Town was recently completed and was won by Xiaomi Jingxi Technology Co., Ltd. It is understood that this place is located near the current Yizhuang Xiaomi Auto Factory. Since the beginning of this year, Lei Jun has publicly mentioned the recently established Xiaomi Auto Factory several times, saying that the park integrates R&D, production, sales, and experience, and has introduced more than 700 robots to directly serve the production line, and AI enables high-precision quality inspection. (Everynet) Original link

OpenAI directly challenges Google and launches new AI search function

OpenAI launched a new search feature called "SearchGPT" on July 25 local time, launching the most direct challenge to date to Google, which has long dominated the search industry. OpenAI said it has opened registration for the new tool, which is currently in the prototype stage and is being tested with a small group of users and publishers. The new feature will be released in a test version on a web browser. The company plans to integrate the functionality of the search tool into ChatGPT in the future. OpenAI said in a blog post that SearchGPT will provide aggregated search results with source links in response to user queries. Users can also ask follow-up questions and receive contextual responses. (Interface) Original link

New product:Summer car rental bookings nearly doubled year-on-year, and Fliggy Car Rental launched 360° VR car viewing function

36Kr learned that car rental self-driving tours continue to be popular. According to Fliggy data, as of now, the number of car rental reservations for this summer has nearly doubled compared with last year. Chengdu, Urumqi, Sanya and other places are popular areas for car rentals, and the number of car rentals of models such as Xiaomi SU7, Great Wall Cannon, and Trumpchi M8 has increased rapidly. It is understood that Fliggy Car Rental has also launched a VR car viewing function. When consumers book a vehicle on the platform, they can use 360° VR panoramic technology to view the real details of the vehicle's exterior and interior.

Zhipu AI launched the AI-generated video model Qingying today: it only takes 30 seconds to generate a 6-second video

36Kr learned that today, Zhang Peng, CEO of Zhipu AI, announced at Zhipu Open Day that the AI ​​video generation model Ying was officially launched on Zhipu Qingyan, and it only takes 30 seconds to generate a 6-second video. From now on, all C-end users can experience the AI ​​text-to-video and image-to-video capabilities through Ying.

Chery Fengyun T10 is launched globally, priced from RMB 189,900

36Kr learned that the ultra-long-range flagship electric hybrid SUV, Fengyun T10, was launched globally in Mile on July 25. The new car has three models, 210 Premium Edition priced at 189,900 yuan, 210 Luxury Edition priced at 199,900 yuan, and 200 Four-wheel Drive Flagship Edition priced at 229,900 yuan.

Investment and Financing:KKR acquires education software platform Instructure for $4.8 billion

U.S. private equity giant KKR Group said on Thursday that it would acquire educational software platform Infrastructure Holdings for $4.8 billion. The acquisition indicates that private equity activity may be recovering after a period of silence as rising interest rates have hindered debt financing for leveraged buyouts. Before KKR's acquisition of Infrastructure, Bain Capital announced that it would acquire PowerSchool Holdings for $5.6 billion. (Sina Finance) Original link

Today's Viewpoint:Musk says he will discuss with Tesla board $5 billion investment in xAI

Musk recently launched a "poll" on the X platform to solicit opinions from his 191 million fans on this possible investment. Musk asked at the time: "Assuming that the valuation of xAI is set by several reliable external investors, should Tesla invest $5 billion in the company?" He also wrote: "Board approval and shareholder votes are necessary, so this is just a test of the waters." By the next day, about 67.9% of the 958,086 voters supported the idea. Musk said he plans to discuss the huge investment with the seven members of Tesla's board of directors. (Sina Finance) Original link

Other news worth noting:The industry is "emerging" and prosperous, and the total GDP of the Yangtze River Delta exceeded 15 trillion yuan in the first half of the year

Recently, the "report card" of the economic performance of Shanghai, Jiangsu, Zhejiang and Anhui in the first half of the year was released. In the first half of this year, the total GDP of the three provinces and one city in the Yangtze River Delta exceeded 15 trillion yuan, accounting for about a quarter of the national GDP in the same period. At the same time, the economic scale of many places has ushered in new breakthroughs, and emerging industries are booming. "This figure shows that the Yangtze River Delta's role as an engine of my country's economic growth is still very critical. At the same time, emerging industries are the main carriers of new quality productivity. As the integration of the Yangtze River Delta goes deeper and more practical, the region's emerging industry ecology and industrial chain composition will also be more complete, and its role in driving national economic growth will continue to strengthen." said Zhan Yubo, director of the research office and researcher of the Institute of Economics, Shanghai Academy of Social Sciences. (Shanghai Securities News) Original link

One month after Beijing's "626" new property market policy, market sentiment heats up

It has been a month since the introduction of Beijing's "626" new property market policy. Overall, sentiment in both the new and second-hand housing markets has warmed up, and market activity has increased significantly. From the online signing data, according to data from the Beijing Municipal Housing and Urban-Rural Development Commission, from June 27 to July 24, the online signing volume of new residential houses in Beijing was 4,233 units, and the online signing volume of existing (second-hand) residential houses was 14,966 units, an increase of 41.7% and 12% respectively compared with the comparable period before the introduction of the new policy (May 29 to June 25). (Securities Daily) Original link