Buffett sold BYD shares for the first time, cashing out HK$368 million: holding for 14 years, the return exceeds 30 times
On August 30, according to the Hong Kong Stock Exchange document, Berkshire Hathaway, founded by Buffett, sold 1.33 million BYD H shares on August 24, with an average price of HK$277.1 per share, and its shareholding in BYD. The proportion dropped from 20.04% to 19.92%. This sale is also Buffett’s first sale in BYD’s 14-year history. Based on BYD’s closing price of HK$263 on the 30th, Buffett’s investment return exceeded 33 times.
BYD replied to the media that according to the relevant rules of the Hong Kong Stock Exchange and the China Securities Regulatory Commission, major shareholders need to declare their rights and interests to reduce their holdings. Check the Hong Kong Stock Exchange’s rights disclosure platform, and no information on the reduction of holdings is displayed, and the declaration of shareholders’ rights and interests shall prevail. The company is currently operating normally, and all businesses are being carried out in an orderly manner.
It is worth noting that according to the CCASS data of the Hong Kong Stock Exchange in July, Citibank added 225 million shares of BYD shares, of which 225 million shares were transferred by institutions. The market speculated that the 225 million shares that Citibank’s holdings increased should come from Berkshire Hathaway, which is owned by Buffett. Leifeng.com
Domestic News
The monthly salary is 36,000, and the algorithm engineer is fired for writing 7 lines of code per day
Recently, China Judgment Documents Network recorded a case of being fired for writing too little code. The judgment shows that Li Moumou, born in 1979, joined Zhongke Shangyi Company on November 2, 2020 as a machine vision algorithm engineer. The two parties signed a labor contract for the period from November 2, 2020 to November 2023. On the 1st, the probation period is three months, and the salary during the probation period is 36,000 yuan/month.
The plaintiff company pointed out that Li Moumou, as a visual algorithm engineer, worked for 72 days, and only completed the writing of 422 lines of code for the deep learning recognition algorithm. The code of the 3D point cloud algorithm and the multi-camera joint algorithm was written in 0 lines, and about 9 days were removed during that time. The sample training and shooting, that is, only 7 lines of code are written every day for 63 days. The plaintiff company claimed that, as an employee of the same salary level in the position, the normal code workload of the same level in the same industry is 100-200 lines per day. In addition, Li Moumou’s work completion degree during the probationary period seriously did not meet the requirements of the evaluation and scoring during the probationary period, and he repeatedly violated the regulations and reported to the higher levels in his daily work, misleading the leadership with his personal subjective judgment, and transmitting false information, which affected the company’s overall work. Atmosphere, seriously delaying work progress and efficiency.
On January 12, 2021, the company presented the “Notice of Termination of Labor Contract” to Li Moumou. The reason for the cancellation was that Li Moumou failed the assessment during the probation period and did not match his job position. On the same day, because Li Moumou did not agree with the company’s reason for the cancellation, the two parties discussed the cancellation matters until after get off work. After get off work, Li Moumou left the company without clocking in. After Li Moumou left, Zhongke Shangyi Company said that it did not cooperate with the handover procedures. Li Moumou’s computer was taken away.
The final court ruled that: the company unilaterally terminated the labor contract on the grounds that Li did not meet the employment conditions during the probationary period. There was no factual and legal basis, and it was an illegal termination of the labor contract. In the final judgment, the company paid Li Moumou 36,000 yuan in compensation for illegally rescinding the labor contract, and paid Li Moumou’s salary of 13,241.37 yuan from January 1 to 12, 2021. (CSDN, Fast Technology)
Former Huawei VP of Software Joins Lixiang Auto: Rank M11, second only to Li Xiang
On August 30, according to 36Kr report, it learned from a number of people familiar with the matter that Li Auto has recruited a new person in charge for the forward-looking technology research and development business – the former vice president of Huawei’s consumer BG software department, terminal OS Minister Xie Yan. At present, Xie Yan has joined Lixiang Auto as the head of the system R&D department. His rank is M11, second only to M12 of Li Xiang, the founder and CEO of Lixiang Auto. The source also revealed that Li Auto’s computing power platform business also includes a self-developed smart driving chip project, which already has a team size of dozens of people and has a clear mass production schedule. Interestingly, according to a previous report by AUTO lately, Ideal had recruited a new software R&D executive under the pseudonym “Lin Yun”. It is reported that Xie Yan was the core backbone of Alibaba AliOS, and he has served as the general manager of AliOS, chief architect and other management positions. After the integration of AliOS and Zebra Network in 2019, Xie Yan left Ali AliOS to join Huawei’s operating system Hongmeng business, and served as the vice president of Huawei’s consumer BG-software department, director of the terminal OS department, and chief architect of the distributed smart OS. “Father,” Wang Chenglu, President of Huawei Terminal BG Software Department, reported. However, in early 2022, Wang Chenglu moved to Shenzhen Kaihong, a Huawei affiliate, and Xie Yan also left Huawei.
Wang Sicong has resigned from the directorship of Wanda Group
According to the National Enterprise Credit Information Publicity System, Dalian Wanda Group Co., Ltd. has undergone an industrial and commercial change, and Wang Sicong has resigned as a director. The company was established in September 1992 with a registered capital of 1 billion yuan. It is jointly held by Wang Jianlin and Dalian Hexing Investment Co., Ltd. Wang Jianlin is the chairman, legal representative and actual controller of the company.
Douyin launches video mode without network: up to 200 videos can be watched for 1 hour
On August 30th, Douyin launched a feature of “watching videos without internet”, which, as the name suggests, allows users to enjoy Douyin even without internet access. It is understood that this function is located in the function bar of the Douyin App Personal Center. Users can select “100”, “150” and “200” video caches in the offline mode settings, which can be played for about 30 minutes, 45 minutes, 60 minutes, respectively. minutes of video, and an option to automatically replace with a new video on Wi-Fi. (Tech Planet)
Suning.com’s revenue in the first half of 2022 is 37.2 billion yuan, and its loss is 2.74 billion yuan, narrowing 20.6% year-on-year
On the evening of August 30, Suning Tesco released its 2022 semi-annual report. The announcement shows that in the first half of the year, Suning.com’s revenue was 37.209 billion yuan, down 60.25% year-on-year; the loss was 2.74 billion yuan, and the loss in the same period last year was 5.024 billion yuan, and the loss narrowed 20.60% year-on-year. Among them, the loss in the second quarter was 1.712 billion yuan, a year-on-year decrease of 56.20% in the second quarter of 2021. According to the financial report, Suning.com Retail Cloud opened 1,111 new stores in the first half of the year. In the first half of the year, Suning.com’s comprehensive gross profit margin increased by 9.00% year-on-year, while the company’s total expenses during the period decreased by 40.10% year-on-year. (NetEase Technology)
Zhihu paid membership revenue exceeded advertising for the first time, with a net loss of 810 million in the first half of the year
On August 30, Zhihu announced its 2022Q2 and first half results. According to the financial report, Zhihu’s revenue in the first half of the year was 1.6 billion yuan, an increase of 41.4% over the same period last year; the adjusted net loss was 811.2 million yuan, an increase of 106.3% compared with 393.9 million yuan in the same period in 2021.
However, in this financial report, Zhihu’s revenue structure has ushered in a major change. The original advertising-based revenue structure was completely broken.
In the first half of the year, Zhihu paid membership revenue exceeded advertising revenue for the first time, becoming Zhihu’s largest revenue business. According to the financial report data, in the first half of the year, Zhihu’s advertising revenue was 450 million yuan, compared with 462 million yuan in the same period in 2021, a slight decrease; paid membership revenue was 490 million yuan, an increase of 75.1% from 280 million yuan in the same period in 2021.
Zhihu is very confident in the paid membership business. Zhihu founder Zhou Yuan disclosed that the number of Zhihu paid members and the penetration rate of paid members in MAU have continued to grow in the past 24 months and are expected to increase. In the long run, the penetration rate will exceed 20%.
WeChat input method is coming, Tencent applies for WeChat input method trademark
It was reported on August 30 that Tencent recently applied for the registration of a number of “WeChat Input Method” graphic trademarks. The international classification involves scientific instruments, education and entertainment, communication services, etc. The current trademark status is all pending. According to media reports, the “WeChat Input Method” has undergone several rounds of internal testing. Zhang Xiaolong, senior vice president of Tencent and founder of WeChat, said in the WeChat public class in early 2021 that he would launch the “WeChat Input Method” to ensure the privacy and security of users.
Huawei Mate 50 uses satellite communication: send emergency text messages through Beidou
On August 30, according to media reports, Huawei will release the new Mate 50 at a media conference on September 6. The Mate 50 will be one step ahead of Apple and provide emergency text messaging services through satellite communications supported by the Beidou system.
It is understood that the Beidou satellite system is the third mature global satellite navigation system independently developed by my country after the US GPS and Russia’s GLONASS. Liu Zhonghua, chairman of Beidou Tianhui, previously stated in the “Dialogue” column that short message communication is a special function of Beidou. When the phone has no signal, as long as there is a Beidou terminal, you can send the location and words to be said by SMS. Come to the SOS.
It is worth mentioning that Apple has completed the hardware test of the satellite communication function. Whether the upcoming iPhone 14 can finally provide this feature depends on whether Apple can negotiate a business model with operators.
Alibaba Cloud launches the world’s largest intelligent computing center
On August 30, Alibaba Cloud announced the official launch of the Zhangbei Super Intelligent Computing Center, with a total construction scale of 12 EFLOPS (120 billion floating-point operations per second) AI computing power, which will exceed Google’s 9 EFLOPS and Tesla’s 1.8 EFLOPS has become the world’s largest intelligent computing center, providing powerful intelligent computing services for AI large model training, autonomous driving, spatial geography and other artificial intelligence exploration applications.
At the same time, Alibaba Cloud officially opened the “Feitian Intelligent Computing Platform”, the technical base of this super-intelligent computing center, which can serve various enterprises and institutions through public cloud and proprietary cloud models, and simultaneously launched another one located in Ulanqab. The intelligent computing center, the construction scale is 3 EFLOPS (30 billion floating-point operations per second) AI computing power.
According to reports, the two ultra-large-scale intelligent computing centers are serving cutting-edge intelligent applications such as AI large model training, remote sensing detection, digital human, autonomous driving, life science, new drug research and development, and the Metaverse. Among them, Xiaopeng Motors has accelerated the training of autonomous driving models by nearly 170 times based on Feitian Intelligent Computing. Shenshi Technology uses Feitian intelligent computing to increase the efficiency of molecular dynamics simulation training by 5 times.
TSMC warns: Low-end chip shortages are hitting the entire supply chain
On August 30, Wei Zhejia, president of TSMC, said that the current general shortage of chips worth 50 cents to $10 is hindering the development of the $600 billion semiconductor industry.
According to foreign media reports, Wei Zhejia said at the 2022 TSMC Technology Forum on Tuesday that these low-end chips continue to be in short supply, hindering production in some key areas of the supply chain. He said it was difficult for ASML in the Netherlands to obtain the $10 chips used in EUV lithography machines. TSMC has dozens of these devices, which are critical to delivering more power on a smaller silicon die. ’50-cent radio chips hinder production of $50,000 cars. Currently TSMC’s existing factories cannot meet demand for low-end chips, and the company is building new factories, suggesting that even mature chips may cost more in the coming months. “Wei Zhejia finally pointed out that the era of a globalized efficient supply system has passed, and all costs will increase rapidly.
SMIC’s US$7.5 billion new 12-inch wafer production line continues to expand mature production capacity
SMIC recently announced that SMIC, Tianjin Xiqing Economic Development Group Co., Ltd. and Tianjin Xiqing Economic and Technological Development Zone Management Committee jointly entered into and signed the “SMIC Tianjin 12-inch foundry production line project cooperation framework agreement” “.
The total investment of the project is US$7.5 billion. SMIC will build a 12-inch wafer foundry production line in Tianjin with a production capacity of 100,000 wafers per month, which can provide foundry and technical services at different technology nodes from 28nm to 180nm. , The products are mainly used in communications, automotive electronics, consumer electronics, industry and other fields.
According to the statistics of CITIC Construction Investment, at present, adding Beijing (investment of 7.6 billion US dollars, planned production capacity of 100,000 pieces/month), Shenzhen (investment of 2.38 billion US dollars, planned production capacity of 40,000 pieces/month), Shanghai (investment of 8.87 billion US dollars, planned production capacity) Each has a 12-inch wafer fab under construction, and SMIC has added 4 12-inch wafer fabs, with a total related investment of US$26.35 billion and a planned production capacity of 340,000 wafers/month. moon.
Operating cash flow turned positive, but revenue fell by 26% year-on-year, Tuya Smart saved money for the winter
Tuya Smart released its 2022 Q2 financial report on the 30th. According to the financial report, Tuya Smart’s total revenue in the second quarter was US$62.5 million, a year-on-year decrease of about 26.1%, and it has been on a downward trend for two consecutive quarters. The net loss was $35.9 million, compared with $38.1 million in the same period in 2021, and the non-GAAP net loss was $18.7 million, compared with $23.1 million in the same period in 2021, and the non-GAAP net loss ratio increased from 27.3% to 29.9%.
From the decline of various cost items, we can see Tuya Smart’s attempt in “throttling”. Research and development expenses for the second quarter of 2022 were $37.2 million, a decrease of 12.7% compared to the same period last year, and the average number of salaried employees in the company’s research and development team decreased by approximately 21.3% compared to the same period last year. Thanks to a series of cost control measures, Tuya Smart’s Q2 operating loss in 2022 narrowed by 15.9% to US$26.5 million, and its operating profit margin also improved from -35.6% to 31.3%.
According to Tuya Intelligence, the global consumer discretionary industry and consumer spending will continue to face a series of challenges in the second half of 2022, including factors such as declining or weak general economic conditions, high global inflation, and overstocking. Liu Yao, director and chief financial officer of Tuya’s board of directors, believes that Tuya Smart’s current cash position of $951.5 million is sufficient to meet future liquidity and cash needs.
international News
Musk formally notified to stop acquiring Twitter
Tesla Chief Executive Elon Musk’s legal team issued another notice on Wednesday, offering to terminate another document over his $44 billion takeover of Twitter. The latest filing comes after Twitter’s former security chief, Peiter Zatko, claimed earlier this month that Twitter had “extreme, serious flaws” in privacy, security and content moderation.
According to the latest court filing, Musk has sought information from whistleblower Peiter Zatko, primarily about how Twitter measures spam accounts. Musk’s legal team says allegations have come to light about certain facts known to Twitter before July 8 but not disclosed to Musk’s team that provide additional and unique grounds for closing the deal .
Meanwhile, if the July 8 notice is determined to be invalid for any reason, an additional termination notice dated Aug. 29 will be issued, according to Musk’s filing. Twitter shares were down 2.5% at $39.02 before the day’s open.
India’s richest man Adani becomes the third richest person in the world, the first person in Asia
India’s richest man Gautam Adani has surpassed Bernard Arnault, chairman of French luxury goods giant LVMH, to become the world’s third-richest person, according to the latest real-time global rich list. This is the first time that Asia’s richest person has ranked among the top three of the world’s richest people. Adani’s current net worth is about $137.4 billion, second only to Tesla CEO Elon Musk and Amazon founder Bezos on the rich list.
Adani, 60, owns India’s largest private port and airport operator, city gas distributor and coal miner, as well as data centers, cement and media. This year alone, his wealth has increased by 60.9 billion US dollars (about 421.5 billion yuan). In February of this year, he surpassed Mukesh Ambani of India’s Reliance Industries to become Asia’s richest man. In April, his net worth exceeded 100 billion US dollars (about 692.1 billion yuan), and he surpassed Bill Gates last month. Become the fourth richest person in the world.
Japan’s “Saint of Management” Kazuo Inamori dies at 90
It was reported on August 30 that Kazuo Inamori, a well-known industrialist, honorary chairman of Kyocera and known as Japan’s “Saint of Management”, passed away on August 24 at the age of 90. Kyocera disclosed the news on the 30th.
Kazuo Inamori was born in Kagoshima, Japan in 1932. After graduating from Kagoshima University’s Faculty of Engineering in 1955, he worked for Matsukaze Kogyo, an insulator manufacturer in Kyoto. In April 1959, he was funded by an acquaintance and established Kyoto Ceramics Co., Ltd. (now Kyocera) with a capital of 3 million yen.
In 1984, he established Daiichi Denden Planning Co., Ltd. and served as chairman. In October 2000, with the merger of DDI (Dai Denden), KDD, and IDO, KDDI Co., Ltd. was established and served as the honorary chairman. He has been the top advisor since June 2001. In February 2010, he took office as the chairman of Japan Airlines (JAL, now Japan Airlines Co., Ltd.), and in February 2012, he served as the honorary chairman, and in April 2015, he served as an honorary advisor.
In 1984, he personally funded the establishment of the Inamori Foundation and served as the chairman (now the founder). At the same time, an international award “Kyoto Award” is created to recognize those who have made outstanding contributions to the development and progress of human society in November every year. (Interface News)
Snap to cut 20% of its workforce, with more than 6,400 employees worldwide
On August 31, Snap, the parent company of Snapchat, has more than 6,400 employees worldwide, and people familiar with the matter said that Snap will lay off 20% of its employees. Snap’s unit in charge of Spectacles and Pixy drone hardware, a team that helps developers build mini-apps and games within Snapchat, and the Zenly social map app were affected.
Tech companies, cryptocurrency exchanges, and financial firms are already laying off workers or slowing hiring due to rising U.S. interest rates, high inflation, an energy crisis in Europe, and a weakening global economy. As of the close on the 30th, Snap’s closing price fell 2.4%, and its valuation has evaporated by about 79% this year.
AMD released a new generation of processor chips, and PC prices did not increase under cold market conditions
On August 30, AMD officially released the Ryzen 7000 series processors and AM5 motherboards that support the processors. However, affected by the weakening of the PC market, the client computing business, which accounts for nearly 30% of revenue, performed weakly, with a month-on-month growth of only 1.32%. The PC processor business is in danger of being “frozen” in the short term. In this regard, AMD has also significantly lowered its expectations for this quarter. AMD expects that the adjusted operating income in Q3 will be 6.7 billion US dollars, which is equivalent to a year-on-year increase of about 55%, which is 70% higher than that of Q2. % growth slowed. Q3 revenue guidance was also below the $6.81 billion Bloomberg analysts had expected.
YouTube replacement: Chief business officer announces departure, Google global customer solutions president will take over
On August 30, it was reported that Robert Kinchell, the long-serving chief commercial officer of YouTube, announced that he would leave the mainstream social video platform in the United States. He previously worked for the company for more than 12 years. The company confirmed that Mary Ellen Coe, Google’s president of global customer solutions, will take over as YouTube’s chief commercial officer in early October. Ginkle will stay on YouTube for now to help with the transition.
“Ghost Brakes” Raise Safety Concerns Tesla or Face Class Action?
On August 30, according to foreign media reports, Tesla Model 3 owners in California have sued Tesla in a proposed class action because of the vehicle’s “ghost brake” problem, known as Autopilot Assist The system has experienced an accidental activation of the brakes.
“Tesla used unsafe technologies to quickly bring its self-driving cars to market, including a driver assistance system the company called Autopilot or Full driving, and emergency braking,” the owner said in the indictment.
The owner also said, “When unexpected brake defects occur suddenly, they turn what should be a safety feature into a horrific and dangerous nightmare.”
The lawsuit reportedly seeks class-action status for all owners or lessors of Teslas in the U.S. who experience sudden and unexpected braking defects. To this end, Tesla has not yet responded.
Facebook Announces End of Game Live App Support
On August 31, Facebook recently announced that it will end support for the Facebook Gaming (game live broadcast platform) app in October this year. The app originally went live in April 2020. A statement from the Facebook Gaming team read: “Starting October 28, 2022, the Facebook Gaming app for iOS and Android will be discontinued, though we are connecting players, fans and creators with the games they love. Up’s mission hasn’t changed, you can still find your games, streamers and groups when you visit Gaming in the Facebook app.”
Nintendo shuts down recharge channels for 3DS and Wii U
Nintendo closed recharge channels for 3DS and WiiU on the 30th. In this firmware update for WiiU and 3DS, in addition to regular system stability adjustments, the function of using ehop prepaid cards to recharge these two machines is also disabled. However, players who still want to buy games on the 3DS and WiiU’s eShop can choose to top up on the Switch and use the shared balance to make the purchase.
Nintendo previously said that by late March 2023, the Nintendo Wii U and 3DS eShop will no longer support purchasing games, new content and in-app purchases. Nintendo hasn’t completely ditched the Wii U and 3DS, though, and officials say that even after late March 2023, players will still be able to redownload games and DLC, receive software updates, and play on Wii U and 3DS series systems for the foreseeable future. Enjoy the game.
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