Technology Weekly | InnoStone Innovation plans to change or withdraw IPO plan, Wang Ziru is rumored to have resigned from Gree
2024-08-19
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Hangzhou police report on food delivery rider kneeling down
In the early morning of August 13, the Xihu District Branch of the Hangzhou Public Security Bureau issued a notice: "At noon on August 12, a male food delivery rider named Wang from a food delivery platform stepped on the railing while delivering food in the Xixi Century Center Park in our district and was stopped by the park security. The delivery rider knelt down for fear of affecting the delivery of other orders, which led to a gathering of people at the scene. After receiving the alarm, the local police station immediately dispatched police to the scene to deal with the matter, and conducted an investigation into the persons involved in accordance with the law. The subsequent handling will be based on the investigation results and in accordance with the law."
Comment: Meituan revealed that after the conflict, Meituan immediately dispatched a specialist to the scene to assist the rider in handling the conflict, and paid the fence repair fee to the property. At present, the relevant rider partners have returned safely. Regarding the unfair treatment that the riders may encounter in this conflict, Meituan will provide various corresponding assistance according to the riders' demands. Regarding the unfair treatment that the riders may encounter, Meituan will handle it to the end, and cooperate with relevant departments to investigate according to the riders' demands, and effectively safeguard the legitimate rights and interests of the riders.
Wang Ziru can no longer be found on Gree Electric's internal network
On the afternoon of August 16, there were rumors that Wang Ziru, the person in charge of the digital channel reform project of Gree Electric Appliances, had been updated to a resigned status in the screenshot of the company's OA system. As of press time, Gree Electric Appliances has not yet responded to this. An industry insider told the reporter of China Business Network that currently, when Gree employees send emails on the Gree intranet and enter Wang Ziru's name in the recipient column, the Gree intranet page can no longer automatically pop up the corresponding mailbox; Wang Ziru has also disappeared from a certain Gree employee's WeChat work group, and he was still in the group two days ago.
Comment: On August 12, Wang Ziru, as the leader of Gree Electric's headquarters and the person in charge of the digital channel reform project, interpreted Gree's new marketing model at the 2025 Cold Year Gree Electric (Guangfo) New Marketing Strategy Summit. Prior to this, Wang Ziru was subject to consumption restriction measures by the Nanshan District People's Court of Shenzhen for failing to perform the payment obligations determined by the effective legal documents within the period specified in the execution notice. In the case of Gree Electric vigorously promoting the online system of dealers' online wholesale in the 2025 cold year, if Wang Ziru, as the main promoter, leaves, what impact will it have on the implementation of Gree's new retail? Further observation is needed.
Haier Thailand Chonburi Air Conditioning Industrial Park laid the foundation stone, plans to start production in 2025
On August 14, the groundbreaking ceremony of Haier Thailand Chonburi Industrial Park was held at the WHA East Coast Industrial Zone in Chonburi Province, Thailand. The industrial park covers an area of about 324,000 square meters, with an overall planned annual production capacity of 6 million sets. It mainly produces a full range of products including split air conditioners, home central air conditioners, RV air conditioners, mobile air conditioners and window air conditioners. The first phase is scheduled to be completed and put into production in September 2025. In the future, the products will be exported to North America, Europe, Southeast Asia, South Korea, Japan and other places to meet the needs of users in different regions.
Comment: As an export hub of ASEAN and benefiting from multiple free trade agreements, Thailand has become an important manufacturing base for Chinese air-conditioning companies in their overseas layout in recent years. The Haier Air-conditioning Chonburi Industrial Park, which was laid this time, will create about 3,000 new jobs for the local area and drive the intelligent upgrade of the entire local home appliance industry chain by introducing advanced technology and management.
Inspur Innovation plans to change or withdraw IPO plan
On August 15, Liu Jingkang, the founder of Yishi Innovation, posted on WeChat Moments that the company would actively communicate with regulators to change or withdraw its IPO plan. Previously, a screenshot of Liu Jingkang's long WeChat Moments article was circulated on the Internet. According to the screenshot, Liu Jingkang clarified some sensitive issues in the company's IPO process, such as sensitive shareholders are not audit posts, they bid the highest when they bought shares, there is no interest transfer, and they did not conceal their shares. After the on-site inspection in 2022, the company did not receive any regulatory dissuasion. No approval is required, only fair characterization is required. Yishi Innovation mainly deals in smart imaging digital products such as panoramic cameras and sports cameras, and has invested in the research and development of AI imaging technology.
Comment: The road to IPO of Instone Innovation has not been so smooth. In 2020, Instone Innovation launched its listing plan. A natural person named Chen Bin appeared among the shareholders. It is reported that Chen Bin is an indirect shareholder of Instone Innovation. He has worked in the Shenzhen Stock Exchange for many years and was seconded to the Issuance Department of the China Securities Regulatory Commission. He is a resigned employee of the China Securities Regulatory Commission system. In May 2021, the China Securities Regulatory Commission issued the "Guidelines for the Application of Regulatory Rules-Issuance Category No. 2", which pointed out that the shareholding behavior of personnel who had resigned before the issuance of the guidelines is not subject to the provisions on the clearing of the prohibited period of shareholding, but should be verified and explained in accordance with the guidelines. The reason why Instone Innovation did not get the approval document may be because of this matter, or it may be due to other issues.
Southeast Asian e-commerce platform Lazad achieves profitability
Alibaba's Southeast Asian e-commerce platform Lazada recorded a positive EBITDA (earnings before interest, taxes, depreciation and amortization) in July this year and achieved profitability. Lazada CEO Dong Zheng said in an internal speech that this profit proves the effectiveness of Lazada's business strategy, and Lazada will continue to increase its investment in the Southeast Asian market under a sustainable operating model.
Comment: The reason behind the profitability is that Lazada has been continuously improving its monetization rate, reducing logistics costs, providing more value-added services, and localizing operations in recent years. In recent years, the Southeast Asian cross-border market is changing its "money-burning" model to refined operations and improved operational efficiency.
Midea Group's Hekang New Energy turned losses into profits in the first half of the year
Hekang New Energy (300048.SZ) released its semi-annual report on the evening of August 16, showing that in the first half of 2024, Hekang New Energy achieved operating income of 1.709 billion yuan, a year-on-year increase of 137%; net profit of 16.3316 million yuan, turning losses into profits year-on-year; net cash flow generated from operating activities was 230 million yuan, also turning from negative to positive year-on-year.
Comment: Hekang New Energy is a new energy and industrial automation company under Midea Group, mainly covering household energy storage and photovoltaic inverters, photovoltaic EPC, and high-voltage inverter businesses. In the first half of 2024, its photovoltaic EPC business achieved revenue of 1.2 billion yuan, a year-on-year increase of 433.48%, and launched villa energy solutions, gradually establishing a second growth curve, with a gross profit margin of 9.75%, an increase of 1.54 percentage points year-on-year; its inverter business achieved revenue of 350 million yuan, a year-on-year decrease of 0.27%, of which high-voltage inverter revenue increased by more than 10% year-on-year, which increased the gross profit margin of the overall inverter business by 7.93 percentage points year-on-year to 30.87%, reversing the passive situation under fierce competition in the industry. As competition intensifies in the new energy field, turning losses into profits is the first step of Hekang New Energy's "Long March".
Operators' cost-cutting pressure is transmitted to AsiaInfo
AsiaInfo Technologies is experiencing performance pressure. AsiaInfo Technologies' operating income in the first half of this year was 2.994 billion, down 8.8% year-on-year, and a loss of 70 million in the first half of the year. The core reason for the decline in performance lies in AsiaInfo Technologies' traditional business BSS (business support system). In the first half of this year, AsiaInfo Technologies' BSS revenue fell by 18.1%, from 2.191 billion in the first half of last year to 1.794 billion in the first half of this year. In contrast, the "three new" businesses achieved double-digit growth to 1.2 billion. "The decline in traditional business was within our expectations, but such a large decline was a bit beyond expectations." AsiaInfo Technologies CEO Gao Nianshu said at the communication meeting, "We will increase business negotiations in the second half of the year and strive to recover what we lost in the first half of the year."
Comment: AsiaInfo's major customers are China's three major operators, and the operators' investment scale and direction are undergoing changes. The operators' largest investment direction used to be 5G, but investment in this field has gradually decreased over the years. The pressure on operators to reduce costs has been transmitted to partners such as AsiaInfo. Operators are still purchasing AsiaInfo's products and services, but their practice of lowering purchase prices has caused AsiaInfo to feel pain. In the severe business development environment, AsiaInfo needs to better control costs in order to regain profits in the second half of the year.
The case of Kelin Electric against three senior executives was heard in Shijiazhuang, and the dispute over controlling rights continued
The case of Colin Electric against Song Jianling, Qu Guowang and three other senior executives was heard in the Fourth Trial Chamber of the People's Court of Luquan District, Shijiazhuang City on August 16. The case was about a dispute over company resolutions. According to Song Jianling, secretary of the board of directors of Colin Electric, at a media conference held in Beijing on August 5, Colin Electric's vice chairman Li Yanru, general manager Qu Guowang and Song Jianling were accused of using the company's official seal without the permission of the board of directors. Colin Electric requested that the relevant documents be declared invalid and claimed 20 million yuan in economic losses.
Comment: This lawsuit stems from Hisense Network Energy's acquisition of Colin Electric in March this year. In March this year, Li Yanru, Qu Guowang and Hisense Network Energy signed an agreement to transfer the 7.2444 million shares of Colin Electric held by the two to Hisense Network Energy, and also entrusted all voting rights including the remaining 21.7333 million shares to Hisense Network Energy. The litigation materials submitted by Colin Electric show that the document explaining the key points of this share transfer was stamped with the seal of the board of directors and was not reviewed by the company's board of directors. This case is a continuation of the battle for control of Colin Electric. Since March this year, Hisense Network Energy has successively acquired 34.94% of Colin Electric's shares and 44.51% of the voting rights through secondary market purchases, purchases of Li Yanru and Qu Guowang's shares and voting rights, and tender offers.
Amazon and SHEIN released five cross-border e-commerce initiatives at the Cross-Border E-Commerce Fair
On August 16, Amazon, SHEIN, Silvio, Coupang and others jointly issued five initiatives to promote the development of cross-border e-commerce at the 2024 China (Guangzhou) Cross-border E-commerce Trade Fair, calling for accelerating brand overseas expansion, promoting technological innovation, strengthening industry self-discipline and maintaining market order; deepening international cooperation, expanding market space, and strengthening industry-wide regulation, protecting intellectual property rights, and resisting unfair competition to jointly promote the healthy and orderly growth of the industry.
Comment: In the first half of 2024, China's cross-border e-commerce imports and exports reached 1.22 trillion yuan, a year-on-year increase of 10.5%, 4.4 percentage points higher than the overall growth rate of national foreign trade. At present, China's cross-border e-commerce development faces new tasks and challenges. In June this year, the Ministry of Commerce and other departments issued a document to encourage cross-border e-commerce platforms to set up "online zones" in industrial belts to help brands go overseas. The industry hopes that cross-border e-commerce platforms will work with production companies to shift from price competition to value competition and maintain the sustained and healthy development of e-commerce platforms and industrial belt companies.
Venture capital trends:
This week (August 10-16), there were 58 domestic (excluding Hong Kong, Macao and Taiwan) primary market investment and financing events, a year-on-year decrease of 59.44% from last week. Among them, there was 1 financing event in the biopharmaceutical sector and 1 financing event in the manufacturing sector.
This week, there were 4 financing events in the artificial intelligence track, with a disclosed financing amount of about 100 million yuan. Compared with last week, the number of investment and financing increased by 2. Among them, Qianxun Intelligence, an embodied intelligence company founded in February 2024, completed its angel round of financing this week, led by Honghui Fund, followed by Dachen and Qiancheng Capital, and seed round investors Shunwei Capital and Oasis Capital continued to follow up. Zhuoshi Technology, a large model company, completed a 100 million yuan B+ round of financing, led by Shenzhen Tongchuang Weiye, and followed by Qingdao state-owned platform Qingdao Haifa and TusStar and other institutions.
(This article comes from China Business Network)
