Dong Yuhui's Weibo account is empty, what's going on?

NEWS

Today's news

Dong Yuhui's Weibo account was emptied, and he once expressed his disgust with hot searches; BYD executives: Tesla is a partner in the process of EV transformation; Tsai Chongxin: Ali has returned to China's top e-commerce track; Li Auto has achieved a full-year turnaround for the first time; Xiaomi Auto will start domestic deliveries as soon as the second quarter; Octogenarian founder gives equity to his eldest son, and the succession pattern of Spring Airlines has been settled; beinmei's official flagship store was fined for publicity; it is reported that Shein is considering going to London for IPO; Huawei releases the first large model in the communications industry......

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The content of Dong Yuhui's Weibo account was all emptied

On February 27, Dong Yuhui's personal Weibo account, which was certified as "Anchor with Hui, Senior Partner of Oriental Selection", showed that the Weibo content of the account had been completely emptied. In the live broadcast the day before, Dong Yuhui once said that he was naturally disgusted with hot searches, and he would cancel Weibo tomorrow.

BYD executives: Tesla is a partner in the EV transition

Although Tesla and BYD have become more and more competitive in recent years, a BYD executive recently said that Tesla is a like-minded partner in the global electric vehicle transformation. At the same time, Tesla CEO Elon Musk believes that Chinese electric vehicle manufacturers such as BYD are developing "very well". BYD surpassed Tesla to become the world's largest seller of electric vehicles in 2023, marking a new stage of development for the electric vehicle giant. (Finance Associated Press)

Joe Tsai: Alibaba has returned to China's top e-commerce track

In an exclusive interview with CNBC, Alibaba Chairman Joe Tsai said that after a period of pressure, Alibaba has returned to the track of China's top e-commerce company. With a restructuring and new management in place, Alibaba is more confident that it can become one of the top e-commerce companies in China. Although Ali is not as confident as before and feels the pressure of competition, now "Ali is back".

He also expects that the penetration rate of e-commerce in China will exceed 40% in the next five years, significantly higher than the current level of 30%. Alibaba had earlier shelved Alibaba Cloud's IPO plan, and Tsai said it would be more reasonable to move forward with the IPO plan if investor sentiment was good. As for Cainiao, which has submitted a listing application in Hong Kong, he said that the current market performance is not good, and the company is still waiting for a better time. (Finance Associated Press)

Large companies

For the first time, Li Auto achieved a full-year turnaround

On February 26, Li Auto's financial report showed that in 2023, Li Auto's revenue will be 123.85 billion yuan, a year-on-year increase of 173.5%, and its net profit will reach 11.81 billion yuan, turning losses into profits for the first time, with an annual gross profit margin of 22.2%, and becoming the first new power car company in China to achieve annual profitability. Among them, Li Auto's net profit in the fourth quarter was 5.75 billion yuan, and the gross profit margin was 23.5%. In 2023, R&D expenses will reach 10.59 billion yuan, a year-on-year increase of 56.1%. (CBN)

Xiaomi Auto will start domestic deliveries as soon as the second quarter

On February 26, Lu Weibing, president of Xiaomi Group, said in an interview with CNBC, "Based on smartphones, we already have 20 million high-end users in China. We see this as a good starting point for us to enter the high-end market. The initial buyers of Xiaomi cars will overlap very much with smartphone users". Xiaomi launched the SU7 electric car in China at the end of December last year, but the exact price has not yet been announced. He said the official launch of the SU7 would come "soon" and said domestic deliveries would begin as soon as the second quarter. (Caixin)

The octogenarian founder donated equity to his eldest son, and the succession pattern of Spring Airlines was settled

Spring Airlines' second-generation succession process is accelerating. On the evening of February 26, Spring Airlines disclosed the latest actions of the company's founder, Wang Zhenghua. According to the announcement, Wang Zhenghua, Wang Yu and Wang Wei, shareholders of the company's controlling shareholder Spring International Travel Service and its concerted action person Spring and Autumn Charter Flight, have signed an equity gift agreement. The agreement stipulates that Wang Zhenghua will donate part of the equity held by Spring International Travel Service and Spring Charter Flight to Wang Yu. Born in 1944, Wang Zhenghua is the 80-year-old founder of Spring Airlines. Wang Yu is the eldest son of Wang Zhenghua, and Wang Wei is the second son of Wang Zhenghua. (Securities Times)

Fliggy responds to the collapse of Bobcat Canada: it will fund a full refund for users

On February 26, in response to the bankruptcy and suspension of Lynx Air and the difficulty of refunding passengers, Fliggy said that it would fund the service to ensure full refunds for users. It is understood that all passengers who book Bobcat air tickets on the Fliggy platform with a travel date after February 26 (including that day) local time can apply for a full refund on Fliggy. The refund amount amounted to 2,000 yuan per person. According to Bobcat Air's official information, the company currently owns nine Boeing 737-8 airliners. In addition to routes within Canada, the company also operates routes to Cancun, Mexico, and cities in the United States. (Beijing Business Daily)

After four years of listing, profits have declined year by year, and Sinovac Pharmaceutical has frequently taken action to stabilize its stock price

Since the beginning of this year, Sinovac Pharmaceutical has continuously sold out its shareholding increase and repurchase plans, and disclosed relevant progress in a timely manner. Behind the frequent movements are sluggish stock prices and declining performance. Wind data shows that since its listing on the Science and Technology Innovation Board in 2020, Sinovac Pharmaceutical's net profit has slipped from 139 million yuan in 2020 to a net loss of 190 million yuan in 2023. In terms of stock price, Sinovac Pharmaceutical has fallen to a record low of 10.61 yuan per share since the beginning of this year. (CBN)

Beingmate's official flagship store was fined for publicity

Recently, Beingmate (Ningbo) E-commerce Co., Ltd. was fined 20,000 yuan by the Market Supervision and Administration Bureau of Beilun District, Ningbo City for "claiming health efficacy on foods other than health food". It is reported that Beingmate (Ningbo) E-commerce Co., Ltd. is the main operator of the official flagship store of its e-commerce platform. According to the documents, on September 25, 2023, the party listed a brand of "protein powder" ordinary food on its online store, and the advertising content on the main picture of the sales page was "can be enjoyed by the whole family to enhance immunity", and then on November 6, 2023, the above-mentioned terms about the efficacy of "enhancing immunity" were deleted. (Beijing Business Daily)

Investment and financing

消息称Shein考虑改赴伦敦IPO

Chinese cross-border e-commerce giant Shein is considering the possibility of moving its initial public offering (IPO) venue from New York to London, according to people familiar with the matter. The China-based company, now based in Singapore, is in the early stages of exploring options for a London listing as it believes the U.S. Securities and Exchange Commission (SEC) is unlikely to approve its IPO, sources said. Shein still has New York as its preferred listing venue, and if it decides to move to London or elsewhere, it will need to submit a new overseas listing application to Chinese regulators, the people said. (Sina)

iFLYTEK: The application materials for the IPO of iFLYTEK Medical Hong Kong stocks were accepted by the China Securities Regulatory Commission

On February 27, iFLYTEK announced that iFLYTEK Medical had submitted the filing application materials for the issuance and listing to the China Securities Regulatory Commission in accordance with relevant regulations, and was recently accepted by the China Securities Regulatory Commission. Earlier this year, iFLYTEK announced that the company intends to spin off its holding subsidiary, iFLYTEK Medical, to be listed on the main board of the Hong Kong Stock Exchange. The issuance size of iFLYTEK Medical does not exceed 15% of the total share capital after the issuance, and the issuance method is a Hong Kong public offering and an international placement of new shares. (The Paper)

New technologies/products/services

Huawei unveiled the first large-scale model in the communications industry

On February 26, during MWC24 Barcelona, Huawei unveiled the first large-scale model in the communications industry. In response to the industry's high-level intelligent goals of agile service provisioning, accurate user experience assurance, and efficient cross-domain O&M, the large model provides role-based and scenario-based intelligent applications to provide network productivity. (Interface)

Meta will launch a high-end headset next year, priced at $2,000

According to Korean media reports, Meta plans to cooperate with LG to produce the next generation of Quest Pro headsets, which will be released in the first half of 2025. The media quoted sources as saying that Meta CEO Zuckerberg will meet with LG CEO Kwang Mo Koo on Wednesday to finalize the details of the cooperation. Zuckerberg's first public visit to South Korea since his visit to Samsung in 2014 to finalize the GearVR smartphone headset collaboration.

As early as 6 months ago, Korean media revealed that Meta plans to cooperate with LG to produce a new Quest Pro headset, which is planned to cost about $2,000, which is much cheaper than Apple Vision Proo's $3,499. (Wall Street News)

Moutai Health Liquor: Another major product will be created in 2024

On February 23, Moutai Health Liquor Co., Ltd. held the 2024 marketing work meeting, Wang Zhiming, assistant general manager of Moutai Group, Secretary of the Party Committee and Chairman of the Health Liquor Co., Ltd., pointed out that the company's annual revenue in 2023 will reach 4.743 billion yuan, achieving the best results since the establishment of the company; (National Business Daily)

*The title image was purchased from Visual China