[PW Hotspot] Faraday Future Announces Over $52 Million in New Financing

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Today is August 16, 2022, and there are 137 days until the end of the year. On August 17, 1982, Philips released the world’s first CD: ABBA’s The Visitors.

Faraday Future announces over $52 million in new financing

According to businesswire, Faraday Future announced the new financing , saying the new secured note facility provides an initial commitment of $52 million, with a potential maximum financing of up to $600 million. The company also said it is actively discussing additional financing with multiple investors.

According to the official announcement, under the new financing mechanism, the total potential funding of the convertible secured note structure is as high as $600 million, and Faraday Future will receive an initial $52 million in committed funding. The transaction was led by funds managed by US institutional investor ATW Partners.

Faraday Future Global CEO Bi Fukang said: “I am delighted to have this important new committed capital and framework to secure significant additional funding. We are working hard to complete this financing process to raise sufficient new funding to launch FF 91. After a successful Subject to the completion of the financing process, I believe we can deliver vehicles to customers by the end of the third quarter or the fourth quarter .”

Bi Fukang also said, “Our Hanford manufacturing facility, recently renamed ‘FF ieFactory California’, is nearing completion . We have all the equipment on site to start production and are in the final stages of installation. FF ieFactory California has produced ten Multiple production vehicles . Testing and validation of the FF 91 is underway and I am very pleased with the results I have seen. The FF 91 will be the world’s first ultra-luxury electric vehicle and will reset customers’ perceptions of the future of smart mobility expectations.”

Li Auto released its second quarter 2022 financial report with a revenue of 8.73 billion yuan

Li Auto released its second quarter 2022 financial report . According to the financial report, Li Auto achieved revenue of 8.733 billion yuan in the quarter, a year-on-year increase of 73.3%, and a month-on-month decrease of 8.7%; of which car sales revenue was 8.48 billion yuan, a year-on-year increase of 73.0%, a month-on-month decrease of 8.9%; a net loss of 641 million yuan, a year-on-year loss Expanded by 172.2%.

In terms of profit, Li Auto’s vehicle sales profit margin in the quarter was 21.2%, a year-on-year increase of 2.5 percentage points and a month-on-month decrease of 1.2 percentage points; gross profit was 1.878 billion yuan, a year-on-year increase of 97.1%, a month-on-month decrease of 13.2%; gross profit margin It was 21.5%, a year-on-year increase of 2.6 percentage points and a month-on-month decrease of 1.1 percentage points.

In terms of delivery volume, Li Li ONE delivered a total of 28,687 units in the second quarter, a year-on-year increase of 63.2%, and the previous quarter’s quarter-on-quarter deliveries were 31,716 units. Li Auto expects vehicle deliveries in the third quarter of 2022 to be 27,000 to 29,000 units, an increase of 7.5% to 15.5% from the third quarter of 2021. Total revenue is expected to be RMB 8.96 billion ($1.34 billion) to RMB 9.56 billion ($1.43 billion), an increase of 15.3% to 22.9% from the third quarter of 2021.

According to the financial report, as of June 30, 2022, the operating cash flow of Ideal Auto was 1.129 billion yuan, a year-on-year decrease of 19.8% and a month-on-month decrease of 38.4%.

Exposure to Douyin e-commerce adjustment: content and goods are diverted, and the head of operations resigns

According to Tech Planet, Douyin e-commerce will usher in adjustments. Li Tian, ​​the head of Douyin e-commerce author’s product operations, has resigned in June. Douyin e-commerce is accelerating the change in the mode of transitional binding of content traffic. Part of the business will be handed over to the Douyin e-commerce service provider team. Follow-up Douyin e-commerce The business will separate into two business lines, namely content business and shelf business, and will mainly focus on shopping malls and brands in the future.

Insiders said that a series of adjustments and changes in Douyin e-commerce may have accelerated the departure of Li Tian, ​​the head of Douyin e-commerce author’s commodity operations.

According to reports, the previous focus of Douyin e-commerce was mainly in the field of content, that is, selling goods in short videos and live broadcast scenarios, cultivating users’ shopping habits, that is, the “interesting e-commerce” model, but Douyin internally believes that this is First, the business has matured, and more business operations need to be developed in the future. For example, after users join the store membership in the live broadcast room, they can go to the store’s page to view even when the broadcast is not on, forming order transactions and repurchase rates.

According to “LatePost”, Li Tian is a member of Douyin’s start-up “Group of Seven”. He used to be the head of Douyin’s operations. He joined ByteDance’s e-commerce department in May 2021 and participated in Douyin’s e-commerce operation. In terms of structure, Mu Qingping, the general manager of Douyin e-commerce operations, reports to Kang Zeyu, president of Douyin e-commerce.

Apple is rumored to put more ads on its own systems and services to increase revenue

In order to increase advertising revenue, Apple is preparing to place more ads on its own devices’ systems and services. Apple has internally explored adding search ads to Apple Maps, and it’s also possible that ads will appear on Apple’s books and podcasts services.

Apple’s current ad business includes display ads in News and Stocks apps, as well as in the App Store, iPhone, iPad and Mac; the App Store also has Google-like search ads. Apple also recently advertised its Friday Night Baseball deal with Major League Baseball on Apple TV+.

It is understood that Apple’s advertising business currently has an annual revenue of about 4 billion US dollars. Todd Teresi, vice president of Apple’s advertising division, said he hopes to “raise this revenue to the tens of billions level.” On the most recent earnings conference call, Apple CEO Cook mentioned some of the inadequacies of the company’s services division, and pointed out that digital advertising is “clearly affected by the macroeconomic environment”; Cook said that the difficulties faced by digital advertising Likely to continue, at least for the next quarter.

Video game company Unity rejects AppLovin’s $17.5 billion takeover offer

Game software platform Unity Software recently rejected a $17.54 billion takeover offer from game software company AppLovin. At the same time, Unity Software also said that it will continue to execute the previously announced “acquisition of mobile application monetization software company ironSource” transaction.

Currently, Unity Software provides a world-leading gaming software platform for creating and operating interactive, real-time 3D content. AppLovin, on the other hand, provides game developers with the necessary services and tools, allowing developers to acquire new users, monetize games, and optimize app store rankings with analytics tools.

Microsoft admits Xbox One weakness: sales are less than half of Sony’s PS4

According to Sina Technology, a document submitted by Microsoft to Brazilian regulators shows: “Sony has surpassed Microsoft in terms of sales and ownership of video game consoles. For the Xbox One generation, Sony’s PS4 sales are twice as high as ours. many.”

Today, Sony no longer reports its PS4 shipments. But as of March of this year, it had sold 117.2 million units. While Microsoft did not provide specific sales figures for the Xbox One, the document suggests it should be below 58.5 million units.

The figure is in line with a 2020 study by market research firm Ampere Analysis. Ampere Analysis data shows that by the end of the second quarter of 2020, Xbox One ownership was 51 million units.

By comparison, the Nintendo Switch, which currently sells 111.08 million units, is expected to surpass the Sony PS4 later this year. Still, Microsoft appears to be closing that huge gap with its Xbox Series S/X consoles.

Xbox One sales may be mediocre, but some of Microsoft’s work on the Xbox One has laid an important foundation for the Xbox Series S/X. For example, the Xbox Series X launched with support for 1440p, variable refresh rate (VRR) and 120Hz gaming, all tested on the Xbox One.

Microsoft’s acknowledgment of weak Xbox One sales comes amid broader industry discussions about Sony and Microsoft. In January, Microsoft announced it would acquire Activision Blizzard, a game developer and publisher of interactive entertainment content, for $69 billion. When the deal closes, Microsoft will become the world’s third-highest-grossing gaming company, behind Tencent and Sony.

WeChat chat dialog supports zoom in and edit

According to China Economic Weekly, recently, many netizens found that after entering more than three lines of text in the WeChat chat interface, a “pull up” icon will appear at the top left of the chat box. The box is enlarged, which is convenient for users to edit or input text content globally.

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