Original link: https://www.latepost.com/news/dj_detail?id=1369
Tencent and China Unicom joint venture is because of cloud computing
The application for a joint venture between Tencent and China Unicom’s subsidiary was approved only a few days after some market rumors had been denied. China Unicom’s A-share price went up by the limit as a result.
According to the announcement of the Second Division of Law Enforcement of the Anti-Monopoly Bureau of the State Administration for Market Regulation on the 28th of last month, Unicom Ventures, a subsidiary of Unicom, and Tencent Production and Investment, a subsidiary of Tencent, applied for a joint venture to focus on CDN and edge computing business. Unicom Ventures, Tencent Industrial Investment, and related employee stock ownership platforms hold 48%, 42% and 10% of the shares respectively. The new company is jointly controlled by Unicom Ventures and Tencent Industrial Investment.
The Antimonopoly Bureau concluded the application on October 18.
According to Tianyancha information, China Unicom Ventures, which participated in the investment, is a wholly-owned subsidiary of China Unicom, and its foreign investment companies are mostly related to cloud computing business. Tencent Industrial Investment is a wholly-owned subsidiary of Tencent Industrial Investment Fund. Its foreign investment projects include Nashi Big Data, Feixiang Internet, and Tengsu Digital.
“Waidian Finance” learned from people close to Tencent that this time a subsidiary was established for a regular cooperation in the field of cloud computing. Another telecom operator’s cloud computing business backbone speculates that the new joint venture is likely to be the entity for the new cooperation project between Tencent and China Unicom in 2018.
Caijing quoted a person close to China Unicom as saying, “This behavior does not involve the change of the parent company’s shares. It is by no means a ‘mixed ownership reform’ as understood by the market, but an ordinary investment behavior – the two companies each A sum of money to set up a joint venture.”
In August 2017, China Unicom announced a 78 billion yuan mixed-ownership reform investment plan, and Tencent invested 11 billion yuan to subscribe. On January 31, 2018, the cloud service cooperation platform co-operated by China Unicom and Tencent Cloud was officially launched, and cloud services including cloud servers, cloud hard drives, object storage, and file storage were initially launched.
Domestic cloud computing and big data services are basically bound to one of the three major basic operators or state-owned holding companies to meet the preconditions for data compliance and license qualifications, such as the cooperation between Huawei and China Telecom, and the cooperation between Alibaba and China Unicom. Cooperation (Cloud Particle Wisdom), etc. In 2018, Apple’s iCloud data service in China switched to “Cloud Guizhou”, which is a key cooperation project between the Guizhou provincial government and Alibaba Group. (Gong Fangyi)
Investors bought more than 500 billion A shares today
Nearly two and a half months later, the daily turnover of A shares has exceeded 1 trillion yuan.
According to Wind data, the total turnover of A shares on November 2 was about 1,052.9 billion yuan, and the turnover in the first two days of this month exceeded 2,000 billion yuan. Among the more than 5,000 companies, more than 3,600 rose and more than 1,000 fell. Telecom, consumer and real estate sectors were among the top gainers.
The optimism in the market came from some unconfirmed rumors, reflecting some kind of good wishes, and the total market value of A-shares increased by nearly 3 trillion yuan in two trading days. Some stock strategy public funds have already announced purchase restrictions.
Chinese Internet and vaccine concept stocks in the Hong Kong stock market also received a certain amount of buying amid similar optimism. For example, the Hang Seng Technology Index rose 7.8% and 2.65% respectively in the past two days. Hong Kong stocks rose more than 63% and A-shares rose by the daily limit as CanSino Bio was vaccinated by more provinces and cities due to its new coronavirus vaccine.
At the same time, the single-day turnover of Shanghai and Shenzhen Stock Connect, which represent foreign trading trends, dropped from over 100 billion yuan in recent weeks to 89.4 billion yuan, with a net sales of 7.5 billion yuan. Kweichow Moutai, China Duty Free and LONGi Green Energy were the most traded stocks by foreign investors on November 2.
On November 2, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said in a pre-recorded interview at the “International Financial Leaders Investment Summit” held by the Hong Kong Monetary Authority that China’s door will only get bigger and bigger, “don’t bet against China” . (Gong Fangyi)
China’s central bank chief believes there will be a ‘soft landing’ for real estate
On November 2, Yi Gang, Governor of the People’s Bank of China, attended the International Financial Leaders Investment Summit in a pre-recorded interview, conveying China’s attitude towards some recent hot financial and economic topics to domestic and foreign investors.
- Relevant authorities have encouraged banks to support housing loans and reduce mortgage interest rates and down payment requirements. Recently, the performance of land sales has stabilized. It is believed that the property market will have a soft landing in the short term.
- Note: According to Wind data, the national average mortgage interest rate for the first home fell to 4.39% in August.
- The decisive role of the market in the formation of exchange rates will be upheld. The RMB exchange rate will continue to remain basically stable at a reasonable and balanced level, and the value and purchasing power of the RMB will remain stable.
- Note: 1 US dollar is currently about RMB 7.28.
- Financial institutions and shareholders, as market entities, should assume the main responsibility for independent operation, self-responsibility for profits and losses, and “self-rescue” risks.
In the article “Building a Modern Central Bank System”, Yi Gang stated:
Implement the central bank’s independent financial budget management system. There is an essential difference between “fiscal money” and “central bank money”. If the government is allowed to overdraft directly to the central bank and rely on printing bills to meet the needs of fiscal spending, it will eventually lead to hyperinflation, unsustainable finances and a debt crisis.
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, also mentioned comments on financial stability and risk disposal systems in “Strengthening and Improving Modern Financial Supervision” published on the same day:
Under the condition of strengthening the financial stability guarantee mechanism, establish a complete financial risk disposal system, and clarify the relationship between the supervisory agency and the disposal agency… The financial stability guarantee fund, deposit insurance fund and other industry guarantee funds cannot be “distribution boxes”. Improve the functions, strengthen the organizational system, and give full play to the role of the market-based legal disposal platform.
The economic experimental zone where Foxconn is located was “silent” for 7 days
On November 2, the Zhengzhou Airport Economic Comprehensive Experimental Zone, where Foxconn’s Zhengzhou factory is located, issued an announcement that from 12:00 on the same day, the entire area will implement 7-day global static management. During the static management period, the whole district will remain silent, all kinds of gathering activities will be suspended, and traffic control will be implemented.
On the evening of the same day, the National Health and Health Commission released the latest news of the party committee of the organization:
We must be prudent and pay attention to the prevention and control of the new crown pneumonia epidemic as always, unswervingly adhere to the general strategy of “foreign import, domestic rebound” and the general policy of “dynamic clearing”, resolutely implement the “four early” requirements, and strive to minimize Scope, shortest time, and lowest cost to control sudden outbreaks.
According to data from the National Health Commission, on November 1, a total of 2,755 new local positive infections were reported nationwide, including 409 confirmed cases and 2,346 asymptomatic infections. The resurgence of the virus has limited economic activity. According to Caixin, as of November 1, YTO Express had suspended delivery at 3,228 terminal outlets across the country due to epidemic control, involving 29 provinces across the country.
At the same time, some regions have lifted the requirement to have a negative nucleic acid certificate within 48 hours for taking high-speed rail or plane. Nucleic acid testing requirements in some areas have been adjusted from “exhaustive inspections required” to “exhaustive inspections willing to be inspected”, and nucleic acid testing fees are charged, such as some counties and cities in Guizhou, some areas in Yibin, Sichuan, and some areas in Huizhou, Guangdong, etc. (Intern Zeng Xing)
Are diamonds “forever”? No, gold is
It has been less than three months since Power Diamond and Zhongbing Hongjian said in their semi-annual reports that the production and sales of cultivated diamonds are booming, and the market has undergone some changes.
The third quarterly report of cultivated diamonds shows that the revenue during the period was 227 million yuan, and the net profit was 111 million yuan, down 11.45% and 19.67% from the previous month, respectively, and the gross profit margin also fell from 83.44% in the first half of the year to 58.59%. The performance of Zhongbing Hongjian and Yellow River Cyclone also declined due to the price of rough cultivated diamonds.
The price of a polished 1-carat cultivated diamond ranges from RMB 5,000 to RMB 8,000, less than one-third of the price of natural diamonds. “Eternal” diamonds are gradually decoupled from love. Although the industry is generally optimistic about the development prospects of the cultivated diamond market, the short-term demand-side increase has not yet caught up with the supply-side capacity increase.
In contrast, gold, as the hard currency of the world for thousands of years, has more investment properties. The latest report released by the World Gold Council shows that in the third quarter of this year, global investment in gold bars and coins increased by 36% year-on-year to 351 tons, and gold jewelry consumption was 523 tons, which has returned to pre-epidemic levels.
In 2021, the global demand for cultivated diamonds will be about 10 million carats, and the global production capacity at that time has exceeded 20 million carats. Due to the lag in the distribution of goods in the retail market, while the manufacturing end is growing rapidly in the form of full production and sales, there has been redundancy in the middle and lower reaches. Remain. This year, the production capacity will be further released, and the total production of rough rough diamonds in the world will reach 23 million carats, and the surplus situation will intensify.
The Yellow River Cyclone’s fixed increase fund-raising project for the expansion of cultivated diamonds in April this year was terminated at the end of September. The official explanation stated that there have been many changes in the industry situation, market environment and capital market.
The main distribution pattern of the cultivated diamond industry chain is production in China, cutting in India and consumption in the United States. According to the import and export data of lab-grown diamonds released by India, the import value of rough diamonds decreased month-on-month for three consecutive months from July to September. The international economic recession has led to lower-than-expected demand, which has impacted the overall market.
Analysts said that with the arrival of the peak jewelry retail season in the fourth quarter, the price of cultivated diamonds may continue to rise, but the previous high gross profit is difficult to achieve. Upstream rough manufacturers are also extending to the consumer market. In September this year, Power Diamond announced that it will jointly invest with Chao Hongji to establish a cultivated diamond jewelry brand.
Inflation is good for Airbnb and Uber
Amid skyrocketing consumer prices for services, two sharing economy pioneers recently reported their best quarterly results on record.
Airbnb’s third-quarter revenue was $2.9 billion, an increase of nearly 30% year-on-year, and its total bookings were 99.7 million, an increase of 25%, a record high. The $1.21 billion profit in a single quarter was also the first since going public in 2020, CEO Brian Chesky said:
Many people now work from home, shop on Amazon, watch movies on Netflix, but people still want to get out of the house and have a meaningful experience, and I think that’s why they come to Airbnb.
Uber’s third-quarter revenue reached $8.34 billion, an increase of 72% year-on-year, and adjusted profit reached $516 million, also a record high. Both Airbnb and Uber have so far been the beneficiaries of inflation because of their successful cost shifting.
Airbnb’s average daily rent in the third quarter was $156, up 5% from the same period last year, and the company said the increase was because landlords were encouraged to charge more as demand increased.
According to data from market research firm YipitData, the price of Uber’s rides in September was 36% higher than the same period in 2019, the most expensive in history. Uber blamed a shortage of drivers for the price hikes, but in fact, more Americans are starting to sign up as Uber drivers because of increased daily expenses, and the number of active drivers on the platform was back to 2019 levels by the end of the third quarter. (Qiu Hao)
OTHER NEWS
In order to cooperate with the epidemic prevention, the NIO Hefei plant has stopped production, and the delivery of new cars is limited.
According to 36 Krypton reports, in order to cooperate with epidemic prevention, NIO’s two factories in Hefei have recently stopped production. Weilai responded that the news was true and that it did affect the production and delivery progress in October. “Late Point Finance” learned from local residents in Hefei that some areas of Baohe District and Economic Development Zone, where NIO’s two factories are located, were closed last month. According to NIO’s delivery data released yesterday, it delivered 10,100 new cars in October, a year-on-year increase of 174.3%. Since the beginning of this year, it has delivered 92,000 vehicles, which is a significant gap from the annual sales target of 150,000 vehicles.
With 900 stores closed in a single month, Yum China’s third-quarter net profit doubled.
Yum China’s third-quarter revenue increased by 5% year-on-year to $2.68 billion, net profit increased by 98% year-on-year to $206 million, and its restaurant profit margin of 18.8% was the highest quarterly level since 2018. Yum China added 239 stores in the quarter, maintaining its fiscal year target of 1,000 to 1,200 stores.
The Eurozone manufacturing PMI was in contractionary territory in October.
The latest data from IHS Markit showed that the euro zone manufacturing PMI index was revised down to 46.4, the lowest level since May 2020. Market analysis believes that the decline in demand is a key factor in the decline in manufacturing output, and the decline in orders is second only to the 2008 financial crisis and the early stages of the 2020 epidemic. At the same time, the harmonized CPI in the euro area increased by 10.7% year-on-year in October, and the inflation level continued to hit a record.
US ADP payrolls increased by 239,000 in October.
The US ADP added 239,000 jobs in October, higher than the forecast of 195,000. All of the growth came from service-related industries, with a particular focus on leisure and hospitality. The ADP employment data is known by the market as “small non-farm payrolls” and is an advance forecast of non-farm payrolls in the United States.
The ADP (Automated Data Processing Company) National Employment Report measures monthly changes in nonfarm private sector employment based on a subset of aggregated and anonymized headcount data representing approximately 400,000 U.S. business customers, as defined by Investing.com. Reference value for official nonfarm payrolls data. This indicator can be extremely volatile.
Apple’s hiring freeze may last until September next year.
According to media reports, Apple has suspended almost all hiring until next September, when the fiscal year ends. Although CEO Tim Cook said on a recent earnings call that Apple would continue to hire prudently, people familiar with the matter said such a statement was more about protecting the stock price.
Foxconn subsidiary Fuzhikang is expected to turn from profit to loss throughout the year.
Fuzhikang announced today that the loss in the third quarter was US$14.639 million, which turned from profit to loss year-on-year; it is expected to record a net loss for the whole year, with a net profit of US$56.42 million last year. Foxconn is a Hong Kong-listed subsidiary of Foxconn that is responsible for the mobile phone business other than the iPhone. The company said that the loss was related to the restrained consumer demand, the continued decline in mobile phone shipments, and the impact of epidemic prevention on production.
20 trademarks of Real Kung Fu Fast Food were declared invalid by the State Intellectual Property Office.
Recently, 20 graphic trademarks applied by Real Kung Fu Fast Food were ruled invalid by the State Intellectual Property Office. On August 25 this year, the case of Bruce Lee’s daughter claiming 210 million yuan from Zhen Kung Fu was held. At that time, Zhen Kung Fu responded that the series of trademarks were applied for by the company and authorized by the State Trademark Office. This is another time defenders have gained support after the Jordan trademark case in 2012.
Japan is considering following up on U.S. chip controls on China.
According to media reports, the United States urged Japan and other allies to follow up the export control of chips to China. The Japanese government is considering joining, and is paying attention to the attitude of the European Union and South Korea. The United States currently accounts for 12% of the global semiconductor market, Japan accounts for 15%, and Taiwan and South Korea each account for about 20%. The Chinese Ministry of Foreign Affairs responded today that it opposes the economic coercion and bullying of the United States, and hopes that other countries will make correct judgments independently and independently from their own long-term interests and the fundamental interests of the international community.
The court will enforce the 32.6 billion yuan loan Evergrande owed to Shengjing Bank.
Evergrande announced that it received the Shenyang Intermediate Court’s execution notice on the 32.6 billion yuan loan, and its 30.99% stake in Guanghui Group pledged to Shengjing Bank will be repaid by auction and sale. Guanghui Group owns 4 A-share listed companies including Guanghui Energy, Guanghui Logistics, Guanghui Automobile and Alloy Investment. Evergrande was once the controlling shareholder of Shengjing Bank, and it is not clear how much of the latter’s outstanding loans to Evergrande.
China Airlines operated 4,424 international flights in October.
The Feichangzhun big data report shows that the actual number of passenger flights performed by domestic civil aviation on international routes (including Hong Kong, Macao and Taiwan) in October was 4,424, an increase of 19.92% from September, a decrease of 11.47% from last year, and a decrease of 94.68% from 2019. . The average daily number of international flights is 143, about 5% of the same period in 2019. Compared with 2019, the number of international flight departures at 10 million class airports has dropped by more than 80%, and five 2 million class airports have no international/regional takeoff and landing flights in October.
Despite objections, Musk will launch an $8 Twitter subscription service.
On November 2, Musk posted that Twitter will launch a paid subscription service with a monthly fee of $8, and the fee will be dynamically adjusted according to the purchasing power of different regions/countries. The authentication service, previously available only to celebrities, politicians, and journalists, will be available to all Twitter Blue subscribers. Certification increases the visibility of your posts and sees half as many ads. Twitter will also provide incentives for content creators.
Pfizer raised its full-year results and vaccine revenue guidance.
Affected by the sharp decline in the production of the new crown vaccine Comirnaty, Pfizer’s third-quarter revenue fell 6% year-on-year to $22.638 billion. Specifically, the revenue of the new crown vaccine and new crown oral medicine, which received the most attention from the outside world, was US$4.402 billion, a year-on-year decrease of 66%. Even so, Pfizer raised its full-year results and vaccine revenue guidance. Pfizer has previously announced that it will significantly increase the price of the new crown vaccine after the purchase plan in the United States expires, with a price of $110 to $130 per dose.
The freight rate of the Shanghai Port to West America route fell below US$2,000, and the freight rate returned to before the epidemic.
According to the latest data from the Shanghai Stock Exchange, the freight rate for the Shanghai Port to West America route was US$1,902/FEU, and the shipping rate fell back to the pre-epidemic level. Ningbo Shipping Exchange also pointed out that the North American route market is in a state of oversupply, and the freight rate of the route maintains a downward trend. The third quarterly reports of relevant shipping companies also confirmed the downward trend. The net profit of COSCO SHIPPING Holdings in the third quarter increased by 6.42% year-on-year to 32.5 billion yuan, and the growth rate returned to single digits. The container freight volume in the first three quarters fell by 9.36% year-on-year.
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