Author: Yi Shan
Interpretation of TO news
Big news! The property market is going to be bottomed out?
On May 15, brokerage China broke the news:
There are rumours in the market that the relevant authorities are considering a plan to allow local governments across the country to buy the unsold stock of housing. The scheme may allow banks to lend money. It should be noted that there have been several versions of this scheme, but none of them have been officially confirmed.
Interpretation: In these years, the big news is from a small composition first.
After the news spread, the capital market reacted immediately. On the same day, against the backdrop of the broader market's decline, the real estate sector rose, rising 4.04% at its peak and finally closing at 1.72%.
At present, the official is noncommittal about this small composition, there is no proof, and there is no falsification.
In fact, since the announcement of the destocking policy at the end of last month, there has been many discussions about how to destock.
The conventional means are: trade-in, cancellation of purchase restrictions, relaxation of settlement, and price reduction of new houses.
Unconventional means include: digestion within the system, government collection and storage.
Yesterday, Hangzhou Lin'an District also issued a document: the acquisition of a batch of commercial housing in the district for public rental housing, a total of 10,000 square meters.
In the eyes of industry insiders, the government's collection and storage is definitely a big move. Judging from the current situation of the property market, although policies are being issued in various places and the property market has also picked up, the speed and magnitude may not quench the thirst.
Agile, which has been struggling for three years, has also thundered, and the property market is not expected to completely stabilize in the short term, and the government's collection and storage is undoubtedly the most effective way.
But first, let's clarify three key questions:
First of all, how to collect it?
One is to directly collect the stock housing of real estate enterprises, which is the most direct and effective for destocking.
The other is to trade in the old for the new, and purchase and store the second-hand house at a discount from the market to promote the destocking of the new house, which is a little more complicated, but the comprehensive income is the best.
Secondly, where does the money come from?
Some institutions have calculated that if the housing de-conversion cycle is reduced to less than 18 months in accordance with the national requirements, it will need to be net compressed by 7.4 months, corresponding to the need to digest 770 million square meters of inventory, and about 7 trillion funds will be needed.
This amount of money is too large, and the local government will definitely not be able to handle it, so it can only be paid by the state. For example, various special funds have been set up: the issuance of special bonds, the use of stock provident funds, and the securitization of housing mortgage loans.
Finally, what happens after storage?
It is nothing more than to make affordable housing, or sell it or rent it. Take public rental housing as an example: in fact, what needs to be calculated is whether the rental rate of return can equal the interest rate of the funds collected.
The first line and the strong second line will definitely not be even, and the weak second line and the third and fourth lines can be drawn, but can they be rented out, and there must be a question mark?
So the conclusion is: the government collects and reserves, and it looks beautiful!
Shocking Ideal Significant Layoffs of Over 18%
The 21st Century Business Herald exclusively learned that after the May Day holiday, a new round of company-wide personnel optimization is underway within Ideal, and the overall optimization ratio exceeds 18%. According to the 2023 financial report, Li Auto has nearly 31,600 employees, a year-on-year increase of 63%. In terms of optimization ratio, more than 5,600 people were involved in this round of optimization.
Specifically, the sales and service operations department will be optimized to more than 400 people, the recruitment department will be reduced from more than 200 people to 40-50 people, and the intelligent driving team will be reduced to less than 1,000 people.
Interpretation: Li Xiang, CEO of Li Auto, is a person with a strong sense of crisis, even if the company has more than 40 billion cash flow lying on the account at the end of last year, and the gross profit margin is ahead of its former rivals, once the sales volume does not meet internal expectations, there will be adjustments.
On April 7, Ideal carried out a new round of organizational structure adjustment, and on April 22, for the first time in the history of Ideal, the official announcement of the price reduction of the whole system, except for L6, the official price was reduced by 18,000-30,000.
Li Auto is the best performer among the new car-making forces.
In 2023, Ideal will deliver a total of 376,000 vehicles and make a net profit of more than 11.8 billion yuan, making it the third profitable new energy vehicle company after Tesla and BYD.
Good financial performance was the foundation for Li Auto's expansion.
A person familiar with the matter said that last year, Ideal recruited a lot of "high-priced and low-energy" people, but the output was limited.
The house leak happened to rain overnight, and the ideal troubles are not only these. At the same time, the WeChat public account of "International Lawyer" posted an article titled "Li Auto Global Investor Class Action Lawsuit". According to the authors, Li Auto has recently been brought to court by investors for securities fraud.
The logical chain of prosecution is very simple, this year's number one "hacked" model MEGA is the fuse, to the following effect:
Ideally, when releasing MEGA, it was overconfident and gave sales target expectations that did not meet reality;
MEGA suffered setbacks and lowered its sales forecast for the first quarter of 2024;
may have a material negative impact on the financial or stock price, causing damage to investors;
The ideal was alleged to be materially false and misleading.
Regarding this lawsuit, some media commented that the so-called class action lawsuit of investors is more like an angry rebound after the failure of capital to pursue profits. However, I have to admit that the biggest factor in the Ideal MEGA turmoil is the backlash of traffic, and Li Xiang and Ideal were too radical and arrogant before.
As the most outstanding product manager-type automobile company, the ideal marketing longboard and efficiency strength are destined to succeed in the past few years, but it also corresponds to the hard power of technology research and development that is not comparable to Huawei and Tesla.
The ideal full-year sales target has also been lowered from 800,000 units to 640,000 units. However, based on recent sales forecasts, this figure may not be able to be achieved.
From the previous high-spirited and unrivaled limelight, to now the layoffs and litigation troubles, the momentum of Li Auto has been reversed, not only due to the huge pressure on the market, but also due to its own arrogance and subjective reasons for judging the laws of the industry.
The shadow of layoffs and lawsuits looms over Li Auto at the same time, and Li Auto's 2024 is not ideal.
TO Characters/Perspectives
Dong Mingzhu wants to carry out an anchor draft across the country
On May 14, Dong Mingzhu, chairman of Gree Electric Appliances, started broadcasting in Zhang Qi's new commercial live broadcast room, with a live broadcast time of about 1 hour and nearly 2 million people watching. During the live broadcast, the two mentioned the "Gree Good Anchor" plan many times, saying that they wanted to carry out an anchor draft across the country, and the top ten winners could participate in the family banquet of Chairman Dong Mingzhu, and Dong Mingzhu would personally cook for everyone.
Dong Mingzhu also responded to the phenomenon of entrepreneurs becoming Internet celebrities, saying that he stood at the front desk just so that consumers could contact the company when they had problems, and many consumers knew their phone numbers and could contact them directly to solve the problem.
Baidu Wang Yunpeng: Tesla in Wuhan and Baidu are still three or five years behind the level of fully unmanned operation
Baidu's "Apollo Day 2024" open day was held on the 15th at the "Wuhan Baidu Radish Express Car Robot Zhixing Valley". Wang Yunpeng, vice president of Baidu Group and president of the intelligent driving business group, said at the event that recently, Tesla plans to release Robotaxi on August 8 this year, and there are rumors that FSD and Robotaxi are about to enter China, and Baidu is particularly looking forward to this and welcomes it.
However, I would also like to remind you that "there are thousands of roads, safety first", it is really not easy to do Robotaxi in China's complex road scene. For example, in Wuhan, Tesla still needs a long time to achieve the current level of Baidu's fully unmanned operation, at least 3 years, at most 5 years, if you don't believe it, you can come to Wuhan to run first.
The new M5 started large-scale delivery across the country, and Huawei's Yu Chengdong personally delivered the car to the first batch of car owners
On May 15, the new M5 was officially delivered nationwide, and Yu Chengdong, Executive Director of Huawei, Chairman of the Board of Directors of the Device BG, and Chairman of the Board of Directors of the Intelligent Vehicle Solution BU, visited the delivery site and handed over the new car keys to the first batch of owners. Since its release on April 24, 2024, the new M5 has exceeded 10,000 units within 72 hours of its release. Up to now, more than 130,000 units of the M5 series have been delivered. This model was launched on April 23, and the official guide price range is 249,800-279,800 yuan. The new car has been slightly optimized in terms of appearance and other aspects, and has been upgraded for vehicle configuration and intelligent driving system.
TO Corporation's movements
Tesla's 10 executives left in a month
After several years of stability, Tesla's executive team is entering a period of dramatic change. Executives who have made outstanding contributions to Tesla have left in droves in a short period of time. According to incomplete statistics from Jiemian News, since Tesla CEO Elon Musk announced global layoffs on April 15, 10 executives have announced their resignations in a month.
Great Wall Cannon responded to the death of the owner of the car who was stuck in the neck of the electric tent on the roof of the car: expressed deep condolences to the victims and provided all the necessary support to the families
On the morning of the 15th, in response to media reports that the owner of the Great Wall Cannon was stuck in the neck of the electric tent on the roof of the car, the Great Wall Cannon issued a statement saying that it would actively cooperate with the investigation of relevant departments and provide all necessary support to the family. According to media reports, some netizens recently reported that the owner of a Great Wall cannon car in Chengdu was trapped in an electric roof tent and died, questioning the existence of hidden dangers in the vehicle. The Great Wall Artillery said in a statement that it expressed deep condolences to the victims.
At present, we are closely monitoring the progress of the investigation of this incident, and will fully assist the Akinochi brand, actively cooperate with the investigation work of relevant departments, and provide all necessary support to the family. In addition, the tent company involved in the tent Akinodi brand also issued a statement today saying that the Akinodi brand, as the developer of the Shanhaiju camping tent, organized a team to rush to the scene on the day of the accident and cooperated with all parties to investigate. "We will continue to do our best to actively cooperate with the relevant authorities in the investigation and provide all possible support to the families of the victims."
The owner of the Great Wall gun was stuck in the neck of the electric tent on the roof of the car and died, and the tent manufacturer Akinochi issued a statement
On May 15, Qiuyedi (Xiamen) Outdoor Equipment Technology Co., Ltd. issued a statement: On May 11, an accidental casualty occurred when a user in Chengdu used a Shanhaiju tent, and the Qiuyedi brand attaches great importance to it, and the company is deeply saddened by the accident, expresses deep condolences to the victims, and expresses the most sincere concern to their families.
As the developer of the Shanhaiju camping tent, the Qiuyedi brand organized a team to rush to the scene on the day of the accident to cooperate with all parties to investigate. The company will continue to do its best to actively cooperate with the investigation of relevant departments and provide all possible support to the families of the victims.
Xiaomi SU7 exceeded 10,000 units
Lei Jun Weibo said: "Report the latest Xiaomi SU7 news: From the first delivery on April 3, in 43 days, we have delivered 10,000 vehicles!" This is a major milestone for Xiaomi. We are continuing to expand our production capacity to ensure that 100,000 units will be delivered this year. Thank you for your care and support, and thank you for your patience and tolerance! ”
Fat Donglai "adjusted" the second store of BBK: a 50% salary increase and a two-hour shortening of business hours
Fat Donglai's "second store" BBK supermarket Xiangtan Jiuhua Xintiandi store officially launched the adjustment and reform on May 15. This adjustment is still dominated by the Fat Donglai team and a pro-team. According to the adjustment plan, the store will basically show the effect of adjustment around May 28.
At present, BBK Jiuhua Xintiandi store has adjusted its business hours: 9:30-21:30. Compared to the previous 8:00-22:00, the store opening hours have been shortened by two hours. While shortening the business hours, BBK Jiuhua Xintiandi store has also increased the overall salary of employees, and the minimum salary has reached more than 4,000 yuan. According to the loss prevention staff of the store, the salary was between 2,800 yuan and 3,200 yuan before, but you can get about 4,200 yuan from May, with a salary increase of 50%.
It is reported that ByteDance has given up the sale of Mutong Technology and will appoint a new CEO
ByteDance has reportedly abandoned plans to sell Mutong Technology and plans to appoint a new CEO for the game studio.
According to the report, the new CEO who took over Mutong Technology is Zhang Yunfan, a former executive of Perfect World, who will replace Yuan Jing, co-founder and CEO of Mutong Technology. According to public reports, Zhang Yunfan has held various positions at Perfect World, including chief operating officer. It is unclear whether Yuan Jing will stay at Mutong Technology. ByteDance has not responded to the above news.
Baidu: Consider possible cooperation opportunities with Tesla on Robotaxi
On May 15, Xu Baoqiang, general manager of Baidu's autonomous driving technology department, said that for Tesla's Robotaxi (shared taxi), Baidu will consider possible cooperation opportunities according to Tesla's specific application model and the pace of entering the Chinese market. Musk recently posted on the social media platform X that Tesla plans to launch a driverless taxi (robotaxi) on August 8, 2024. Tesla previously said that the next-generation vehicle platform will include lower-priced cars and fully self-driving taxis. On April 29, a source said that Tesla will use the advanced assisted driving map (Gaofu map) provided by Baidu Maps for the Chinese version of FSD (Full-Self Driving).
Jia Yueting's FF stock price rose 10 times in two days
On May 15, Faraday Future's (FF) stock price soared, with a maximum increase of nearly 490%, setting the highest increase since FF went public. Wall Street analysts said that in the context of the US government's increase in import tariffs on Chinese automobiles to 100%, FF's unique Sino-US dual gene and dual home model, coupled with the dual stimulation of the company's founder Jia Yueting to build cars through personal IP, is the core factor of this round of soaring.
Xiaomi Auto responds to SU7 premium pricing
In response to the question raised by netizens "What is the level of Xiaomi SU7 premium", Xiaomi Auto recently replied to netizens that Xiaomi SU7 premiums are priced by cooperative insurance companies and underwritten in accordance with the exclusive terms of new energy vehicle insurance. Xiaomi Auto said that the price range of Xiaomi SU7 is 215,900 yuan to 299,900 yuan, and the premium pricing of the same model and underwriting plan is different in different provinces and cities, taking Beijing as an example, the premium of Xiaomi SU7 is about 5,200 yuan and the premium of Xiaomi SU7 Max is about 6,600 yuan, which is in line with the overall premium pricing level of the main new energy electric car in the market with a price range of 200,000 yuan to 300,000 yuan.
Nvidia CEO Jensen Huang's annual salary rose by 60%
Huang earned $34.2 million in total compensation for the fiscal year ending January 2024, up 60 percent from $21.4 million the year before, Nvidia said in its annual proxy filing filed Tuesday. In addition, the value of Lao Huang's stock awards is approximately $7 million higher than in fiscal year 2023. His cash prize was $4 million. He also received $2.5 million in other subsidies to cover costs such as home security and consulting fees. Nvidia said its executives' performance metrics were above the upper end of the target, driven by the strong performance of its data center platform and the need to generate AI. In addition to Huang, Nvidia's CFO pay has risen by about 22 percent to around $13.3 million.
Guangqi Honda has launched a large-scale layoff, and the scale is expected to be in the thousands
It was learned from a number of internal employees of Guangben that since May, Guangben has launched large-scale layoffs in the form of step-by-step notices, and the scale is expected to be thousands of people. Relevant insiders said that this is an overall layoff, involving multiple lines, and the resignation process has been started internally, mainly based on voluntary resignation, and there will be corresponding compensation, "At present, many employees have begun to have a physical examination before leaving." Relevant insiders also revealed, "It is expected that the layoffs will continue until August, but May is more concentrated." Regarding the layoffs, Guangqi Honda responded, "In order to ensure the company's sustainable operation and accelerate strategic transformation, Guangqi Honda will further improve personnel efficiency." The measures include the non-renewal of the first labor contract of some employees in the production field, and the termination of the labor contract through voluntary negotiation. According to the reporter, in addition to Guangqi Honda, SAIC Volkswagen, Toyota, etc. have also laid off employees.
TO cutting-edge technology
Baidu Apollo plans to deploy 1,000 unmanned vehicles within this year
It was learned from the ApolloDay2024 open day that Baidu Apollo plans to deploy 1,000 unmanned vehicles in Wuhan this year. According to reports, the goal of "Carrot Run" is to break even in Wuhan by the end of 2024 and fully enter a profitable period in 2025. As of April, Baidu's Apollo has more than 100 million kilometers of autonomous driving mileage.
At the same time, Baidu Apollo purchased 5 million yuan of insurance for each unmanned vehicle and passengers. At the open day, Baidu Apollo released the ApolloADFM (AutonomousDrivingFoundation Model), a large model that supports L4 autonomous driving, and at the same time launched a new sixth-generation "Carrot Run" unmanned vehicle equipped with Baidu's sixth-generation intelligent system solution and priced at 200,000 yuan. According to reports, the sixth-generation unmanned vehicle of "Radish Run" adopts automatic battery replacement service, which can achieve 3-minute fast battery replacement. At present, "Carrot Run" has completed more than 6 million travel services across the country.
The total number of downloads of Byte's large-scale model bean bag App exceeded 100 million, and the monthly active users of both ends were 26 million
On May 15th, the FORCE Motor Force, hosted by Volcano Engine, was held in Beijing. According to the data released at the meeting, up to now, the total downloads of ByteDance's large-scale model bean bag App (application) have exceeded 100 million, the number of double-ended monthly active users has exceeded 26 million, and the total number of agents created has exceeded 8 million.
It is reported that the bean bean model includes bean bean general model Pro, bean bean general model liti, bean bag role playing model, bean bag speech synthesis model, bean bag sound replica model, bean bag speech recognition model, bean bag Wensheng diagram model, bean bag · Function Call model.
Beijing has added 19 new generative AI services to the list: Xiaomi and Ape Power Technology have been successfully filed
On May 15, "Netinfo Beijing" announced new progress in the filing of artificial intelligence, and 19 companies added filings, including Xiaomi Technology Co., Ltd. "Xiaomi", Beijing Ape Power Technology Co., Ltd. "Kanyun", Beijing Kuaishou Technology Co., Ltd. "Ketu", Tencent Cloud Computing (Beijing) Co., Ltd. "Industry Model", AutoNavi Software Co., Ltd. "Qianxun", etc.
According to the Interim Measures for the Administration of Generative AI Services, generative AI applications or functions that have been launched should publicize the use of the filed generative AI services in a conspicuous position or on the product details page, indicating the model name and filing number.
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