news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Dong Yuhui resigned, and Oriental Selection's stock price plummeted

On July 25, Oriental Selection (1797.HK) announced that Dong Yuhui had resigned, and the wholly-owned subsidiary of Oriental Selection, Yuhui Tongxing, officially became independent from Oriental Selection, with Dong Yuhui personally holding 100% of its shares. At the close of Hong Kong stocks on the 26th, Oriental Selection's share price was HK$9.5, a 23.39% drop, with a total market value of HK$9.797 billion.

Comment: In the short term, the negative impact of Dong Yuhui's departure on Oriental Selection is obvious, with traffic and fans declining and stock prices falling. However, in the view of Yu Minhong, founder of New Oriental and CEO of Oriental Selection, this divestiture is good for both Oriental Selection and Yuhui Tongxing, as the internal conflicts and external disputes between the two companies can be resolved at one time. Oriental Selection can also carry out large-scale layout and reform without worrying about the imbalance between the two sides.

Lei Jun spent 842 million yuan to acquire land

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 of Yizhuang New Town was recently completed. Xiaomi Jingxi Technology Co., Ltd. won the bid at a price of 842 million yuan. After equity penetration, the company is 100% owned by Xiaomi Group. The announcement shows that the land area of ​​the plot is about 530,000 square meters. According to the requirements of regional industrial cultivation, it is planned to develop high-end automobile and new energy smart automobile industries, and the planned land use nature is M1 Class I industrial land.

Comment: According to the official website of the Ministry of Industry and Information Technology, Xiaomi Motors recently obtained the qualification to independently manufacture cars. Xiaomi founder Lei Jun previously stated that Xiaomi Motors' goal is to become one of the top five automakers in the world, which requires the company to continue to make large-scale investments in technological innovation and production capacity. The delivery target for Xiaomi SU7 in 2024 is to guarantee 100,000 units at least, and strive for 120,000 units.

China's first e-sports stock, StarEsports, successfully listed in the U.S.

On the evening of July 26, Beijing time, the domestic e-sports company NIP Group officially rang the bell on the Nasdaq in the United States, becoming the first Chinese e-sports stock. In this IPO, NIP Group sold a total of 2.25 million ADS (American Depositary Shares), with an issue price of US$9/ADS, and a total fundraising scale of US$20.25 million (approximately RMB 147 million).

According to the prospectus, "son of the gambling king" He Youjun is the chairman and CEO of Star King Weiwu, and is also the company's largest shareholder, holding 14.2% of the shares. The prospectus shows that Star King Weiwu Group's net income will increase slightly from US$65.8 million in 2022 to US$83.7 million in 2023; the company's net loss will increase from US$6.3 million in 2022 to US$13.3 million in 2023, and the loss margin will widen.

Comment: Xingjing Weiwu's listing may provide sufficient funds for it to achieve its "e-sports +" goal, but after the successful listing, the key to the future still lies in the profit model. The overall profit scenario of the e-sports industry is not yet obvious. Neither the events nor the derivative chains have really formed an effective interconnection. As far as the overall industry is concerned, Xingjing Weiwu faces some challenges. However, the inclusion of e-sports in the Olympics has brought some benefits and given the industry more stories.

Musk: Tesla's supervised FSD is expected to be launched in China this year

Musk said at Tesla's earnings conference on July 24 that Tesla is likely to obtain regulatory approval for "supervised" fully autonomous driving software in China and Europe by the end of this year. The supervised FSD software still requires the driver to pay attention at all times. Tesla also postponed the release of its driverless taxi (Robotaxi) product from August 8 to October 10, and made some important changes. Tesla's stock price fell sharply by more than 8% this week after it announced its lowest quarterly profit margin in more than five years.

Comment: Musk has promised for years that Tesla will turn its customers' existing electric vehicles into self-driving cars through software updates. These updates will add features and improve the capabilities of its driver assistance software, and today these autonomous driving features still require human supervision, that is, humans must be ready to take over the car at any time.

However, it is not easy for Tesla to obtain FSD approval under China's road conditions and regulatory system. Even in many states in the United States, the company has not yet officially operated commercial driverless taxi services, which also requires applying for special licenses and permits.

Chinese mobile game companies account for more than 40% of the world's top 100 mobile game revenues, and overseas game exports have regained growth

The 21st ChinaJoy exhibition was held in Shanghai from July 26 to 29. At present, it has become a mainstream trend for Chinese game manufacturers to go overseas. According to the Sensor Tower report, the revenue of Chinese mobile game publishers has accounted for more than 40% of the total revenue of the top 100 mobile game manufacturers in the world, demonstrating the strong competitiveness and broad development prospects of Chinese game manufacturers in the international market.

According to the latest game app marketing status report released by AppsFlyer, China's overseas game market is regaining growth, game apps are saying goodbye to extensive growth, and lightweight games, cross-platform games and AI-enabled advertising materials have become three important focuses.

Comment: Wang Wei, General Manager of AppsFlyer Greater China, said that the implementation of artificial intelligence applications, the continued tightening of privacy policies, and the "deglobalization" caused by different regional environments have brought new opportunities and challenges to the industry. For lightweight games, we should explore more sinking markets and explore diversified monetization channels; for cross-platform games, we should break the game data island, actively embrace AI, use technology to improve efficiency, and take the road of game export well and steadily.

Operators' operating data for the first half of the year released: China Mobile's 5G customers exceed 1 billion

On the 22nd, the operating data of the three major operators in the first half of the year were released. According to the data, the three operators maintained a growth trend in the first half of 2024. Among them, the total number of China Mobile customers exceeded 1 billion, the penetration rate of China Telecom's 5G package users exceeded 80%, and China Unicom's "Big Connection" users also exceeded 1 billion.

It is particularly noteworthy that China Mobile's customer data in the first half of 2024 showed an overall growth trend after a slight negative growth in February, and exceeded 1 billion in June this year. In May this year, China Mobile changed the monthly disclosed number of 5G package customers to the number of 5G network customers, that is, the number of mobile customers who used the 5G network that month.

Comment: Deloitte partner Cheng Zhong previously analyzed to reporters that, at present, the cost of deploying 5G networks is still high for the industry, and spectrum resources are also limited. From a global perspective, industry standards are not unified, so the country needs to strongly support the 5G industry from a policy perspective. At the same time, 5G-A has begun commercial use, and most of the current operators are focusing on deploying 5G-A infrastructure, which is a great benefit for the transition of 5G from the construction period to the explosive period of application empowerment.

The state has increased the old-for-new policy for home appliances, and more than 10 home appliance stocks have reached their daily limit

On July 25, the National Development and Reform Commission and the Ministry of Finance issued the "Several Measures on Strengthening Support for Large-Scale Equipment Renewal and Consumer Goods Trade-in", which comprehensively arranged about 300 billion yuan of ultra-long-term special treasury bonds to support large-scale equipment renewal and consumer goods trade-in. The industry expects that the amount of subsidies allocated to home appliance trade-in is 15 billion to 30 billion yuan. In addition, the central government will allocate 7.5 billion yuan to continue to support the recycling and treatment of waste electrical and electronic products by "rewarding instead of subsidies". Stimulated by this, on July 26, the home appliance sector collectively strengthened, and more than 10 home appliance stocks hit the daily limit.

Comment: The implementation of a new round of home appliance trade-in policy in the first half of this year did not significantly stimulate domestic home appliance consumption. According to the data from AVC, in the first half of 2024, the retail sales of China's home appliance market was 414.5 billion yuan, a year-on-year decrease of 3.8%. It is predicted that the retail sales of the domestic home appliance market will decline by 3.6% year-on-year in 2024. Therefore, the country has increased its support for the trade-in of home appliances in the second half of the year. The level of the issuing department of the "Measures" has been raised a bit compared with the past, and the practice of "the central government does not give money" for the trade-in of home appliances in the first half of the year has been changed. Guotai Junan predicts that if the subsidy amount is 15 billion yuan, calculated at an average subsidy standard of 15%, it is expected to drive the terminal demand for home appliances by about 100 billion yuan. The industry predicts that it will take two or three months to switch from the old to the new policy, which will directly boost the sales of the domestic home appliance market in the third quarter of this year and stabilize the basic market of the domestic home appliance market in the fourth quarter of this year.

Venture Capital Trends

According to Qichacha data, there were 4 financing events in the artificial intelligence track this week (July 20-26), with a disclosed financing amount of approximately RMB 200 million.

Compared with last week (July 13-19), the number of investment and financing decreased by 11, a year-on-year decrease of 73.33%. Among them, Baichuan Intelligent announced that it had recently completed its A round of financing, with a total financing amount of RMB 5 billion, and will start the B round of financing with a valuation of RMB 20 billion.

There were 2 financing events in the biopharmaceutical sector, 5 fewer than last week and a year-on-year decrease of 71.43%. Participating institutions included Nanshan Zhanxin Investment, Tiger Pharmaceuticals, etc.