Original link: https://www.latepost.com/news/dj_detail?id=1629
This year’s “May Day” holidays may exceed 195 million people
More and more evidence shows that this year’s “May Day” holiday tourism data is likely to exceed the same period in 2019.
For example, the Changsha and Zibo governments issued documents stating that the reception capacity exceeded the upper limit, and hoped that tourists would have good expectations for potential unfavorable travel experiences. In Shanghai, Disney single-day tickets and family package tickets were sold out on May 1. In Zhuhai, the price of Chimelong Ocean Park Hotel for check-in on April 30 and check-out on May 1 rose to 4198 yuan.
This may be a concentrated release of the pent-up demand to go out. China’s epidemic prevention and control measures were optimized and adjusted in November last year. The Spring Festival was still disturbed by the spread of the epidemic to a certain extent. Although the number of infections fell to a low level after that, until the “May 1st”, there was only one day off for Qingming, so a large number of people went out Demand backlog.
In 2019, the number of employees in the accommodation industry with a national turnover exceeding 2 million was about 1.8196 million. At that time, the number of tourists during the “May 1st” holiday was 195 million, and the tourism revenue was 117.6 billion yuan. By 2021, there will be 1.6611 million people in the industry. As demand rebounds and supply is limited, market prices enter a seller’s market in the short term.
According to data from China Merchants Securities, as of April 22, the hotel reservation rate on the three-party platform exceeded 60%, and the average room price increased by 50% to 60% compared with the same period in 2019. According to Ctrip’s data, the number of domestic “May Day” travel orders has matched that of 2019. The Ministry of Communications and civil aviation and railway authorities predict that the traffic volume during the holidays is expected to catch up with or even exceed the level of the same period in 2019.
Because of the fare relationship, the recovery progress of civil aviation seems to be slower. Air passenger traffic in the first quarter was 129 million, recovering to 80% of the same period in 2019. According to data from platforms such as Qunar.com and Ctrip, the number of air tickets booked in advance during the “May Day” period has exceeded that of the same period in 2019. Inflation data released by the National Bureau of Statistics shows that the year-on-year growth rate of tourism CPI in March has reached 5.3%, which is the highest increase since April 2022 (except for the first month of the lunar calendar this year).
Changes in subway passenger flow in some big cities are also in line with the current trend. For example, Shanghai’s average daily travel volume in April was very close to that of the same period in 2019, while Shenzhen’s was significantly higher than that of the same period in 2019. According to Wind’s summary, the passenger flow of 11 major cities in the week of April 16 reached 432 million, setting a record high. This week, with statistics only up to April 26, the total passenger flow during the week has reached 426 million, and it is almost a foregone conclusion to continue to set a record. (Gong Fangyi)
BYD’s quarterly profit increased by 410%, and competitive pressures followed
Not surprisingly, BYD achieved a net profit of 4.13 billion yuan attributable to its parent company in the first quarter, a year-on-year increase of 410%. If non-recurring gains and losses are excluded, its profit growth rate can reach 593%.
The production and sales data released at the beginning of the month have already indicated that the performance in the first quarter will not be bad. In March, BYD’s new car sales returned to 200,000 units, and the cumulative sales volume for the year was about 547,900 units. According to the 1.511 million sales of new energy vehicles nationwide in the first quarter according to statistics from the Association of Automobile Manufacturers, BYD’s market share reached 36.24%.
We have said before that no matter how the automobile industry innovates, it still has to follow some basic cycle laws, such as the new car cycle. BYD launched several new models consecutively in February and March, such as the new Qin PLUS DM-i in February, Han EV and Tang DM-i 2023 in March, covering the price range from RMB 100,000 to RMB 200,000. The intelligence and intelligent driving level of these cars are not very good, but it does not prevent the monthly sales of over 10,000.
Competitive pressure is also everywhere, especially after car companies start price wars. Last year was the last year for the state to subsidize the purchase of new energy vehicles. Factors such as the peak of replacement of old cars by Chinese car owners and the conditional reduction or exemption of oil vehicle purchase tax may overdraft this year’s car purchase demand in advance.
In view of the fact that automobiles are optional consumer goods and at the same time a large household expenditure item, for most car companies, profit margins and market share cannot be achieved at the same time-a global leader like Tesla has decided to change the market for profit margins Accounting rate. (Gong Fangyi)
Temu’s new additions may annoy users, but low prices still work
In the Canadian Apple App Store, Temu, which was only launched in February, has more than 7,000 reviews, with a score of 4.3, but more than 10% of users give it 1 star. One of them called Temu a scam – to get free gifts, you need to be in within 24 hours Invite 7 new users and complete the order. If it times out, all have to start from zero. Australian Temu, which was launched in March, was rated 1 star by 20% of reviewers, who mainly complained about inviting new games and SMS harassment.
In the United States, where it was first launched, Temu added more than 1,000 comments in one day, and the current number of comments exceeds 138,000, and more than 80% of them are 5 stars (this is not reasonable). One reads, “Temu is real and addictive! Get free gifts if you have time to play those irritating newcomer games”.
Like Pinduoduo, Temu’s new additions are annoying some users. But as long as the cost performance is high enough, it can still attract more people. For example, in Australia, more than 60% of users still give 5 stars. One of them wrote, “I have read all the low-score reviews, but I still think this is a good platform. They are cheap and of good quality. I Already bought nearly 30 items.”
Temu landed in the United States in September last year, first to test the waters of the Chinese circle, and then to more users. In February of this year, Temu spent tens of millions of dollars on advertisements on the “Super Bowl”. At the same time, it began to cooperate with local KOLs. “A cute coupon” and “chic bargains” with 650,000 followers. They will release tens of minutes of unboxing videos, introducing wireless headphones, perfume, clothes, storage boxes, soup spoons, everything.
Temu also has invitation code discounts, new invitation rebates, and campus ambassador programs. Invite newcomers to get 20% commission rebate. Campus ambassadors encourage college students to recommend family and friends to place orders, and get a 3% commission reward from them.
Open Temu’s official website, the top is the free shipping policy that is always counting down. Banner is a folded Mother’s Day theme. The first column is a “limited time” special offer, including waterproof watches for 2.6 dollars, gemstone rings for 68 cents, and paring knives for 1 dollar, with sales ranging from tens to tens of thousands. Scrolling down is the themed section, with household items starting at 5 cents, beach clothing starting at 49 cents, a clearance area, and more. Then there is the product category, accompanied by eye-catching words as low as 0.1% off. Further down are recommended stores, inspiration matching, and recommended product flow.
Before the risk escalates, Temu needs to attract as many users as possible and make them like itself. (Lin Guangying)
The starting salary of TSMC’s new engineers is 450,000 yuan, which is equivalent to last year
For this year’s school recruitment, TSMC offers an annual salary of approximately NT$2 million (approximately RMB 450,000) to fresh graduate engineers, which is comparable to last year. According to the financial report, the average salary of TSMC employees in 2022 will be NT$3.175 million (approximately RMB 720,000).
We learned that the starting salary of SMIC’s new engineer with a master’s degree is about 150,000 yuan per year, which is about one-third of TSMC’s salary under the same conditions. According to SMIC’s 2022 financial report, the average salary of its employees that year was about 310,000 yuan.
Early last year, Intel announced the construction of two fabs in Ohio, which is expected to recruit 3,000 employees, about a quarter of whom are chip engineers, with an average annual salary of $128,000 (about 880,000 yuan). TSMC’s Arizona factory offered a slightly lower salary, but there was also $118,000 (about 820,000 yuan).
A TSMC engineer sent to the United States said that although the salary of the expatriate was doubled, considering the price gap between the two places and additional tax costs, he actually “cut his salary to go to the United States.” Many TSMC engineers who are willing to accept assignments want to get a green card in the United States or later switch to technology companies with better salaries and benefits such as Apple, Intel, and Samsung.
Even if it costs more labor costs, it is difficult for TSMC to recruit enough and good enough employees in the United States. Those big Silicon Valley companies that symbolize innovation and freedom will naturally attract the attention of more educated young people. Many parents who have experienced the recession and layoffs of American manufacturing are unwilling to let their children work in factories, even the most advanced ones.
According to the US Department of Commerce, although the average salary is close to 100,000 US dollars per year, less than 40% of the employees in the US chip manufacturing industry have a bachelor’s degree. As of February this year, among TSMC’s more than 73,000 employees, more than half have master’s and doctoral degrees, and less than 20% have no bachelor’s degree.
This is why Zhang Zhongmou, the founder of TSMC, strongly opposed the company’s construction of factories in the United States at first. He has experienced a “nightmare” similar to high costs and difficult recruitment. Zhang Zhongmou said that about 25 years ago, TSMC built an 8-inch wafer fab in Oregon, USA, but almost gave up capacity expansion due to cost and labor issues. . (Qiu Hao)
OTHER NEWS
Tickets for Shanghai Disneyland are sold out on May 1.
According to the official ticketing system of Shanghai Disney Resort, a single-day ticket (769 yuan), a one-day package ticket (ticket + concierge service, 2244 yuan), a family of three package (ticket + 3 designated attractions and 3 designated performances, 4270 yuan) and the exclusive guided tour (VIP service without queuing, 5000 yuan per person, 3 people minimum, tickets not included) are all sold out.
Tickets for Yuanmingyuan were sold out three days before the May Day holiday.
Yuanmingyuan Ruins Park announced on April 27 that tickets were sold out three days before the May Day holiday. During the May Day period, the Old Summer Palace implemented a flow-limiting policy, with a limit of 40,000 people per day, and 20,000 tickets were opened in the morning and afternoon. As of press time, the tickets were sold out on the morning of May 2, and about 4,800 tickets remained in the afternoon. In addition to the Old Summer Palace, May Day tickets for popular attractions such as the National Museum of China and the Palace Museum in Beijing have also been sold out.
During the May Day holiday, the passenger flow of national railways and highways may break through the peak.
During the May Day holiday, the number of passengers sent by national railways is expected to exceed the highest level in the same period in history, and the traffic volume of national expressways on the first day of the holiday may break through the historical peak. According to China National Railway Group, the number of passengers sent by national railways is expected to increase by 20% year-on-year compared with 2019, reaching 120 million person-times. According to the Ministry of Transport, the average daily traffic volume of expressways across the country will reach 53.3 million to 54.3 million vehicles, which will exceed the level of the same period in 2019.
Changsha and Zibo call on citizens to travel at off-peak times to welcome tourists.
Changsha and Zibo have successively issued documents to encourage citizens to travel at off-peak times to make room for tourists from other places. Zibo has become a popular tourist city because of its barbecue. Last week, it issued an article calling on local citizens to be good hosts and leave the roads and scenery to foreign tourists. At present, the hotels in the central city are basically sold out, and the passenger flow has exceeded the reception capacity. Changsha encourages local citizens to choose to stay at home, or go to the suburbs or other places for vacation.
Meta ad revenue resumed growth, spurring shares to a 13-month high.
In the first quarter, Meta achieved revenue of US$28.645 billion, of which advertising revenue accounted for US$28.1 billion, a year-on-year increase of 4.09%, ending the continuous downward trend since the second quarter of last year. Founder Zuckerberg said that Facebook has more than 3 billion daily active people. Affected by these key changes, Meta shares rose more than 14%, and the stock price hit a 13-month high. But Zuckerberg couldn’t stop adjusting the team. He said that “slowing down the speed of hiring, flattening the management structure, increasing the proportion of the company’s technical staff, and more rigorously determining project priorities will improve the speed and quality of the team’s work.” “. Therefore, after two rounds of abolition of the technical team, in May, Zuckerberg will start to adjust the commercialization team.
Mihayou’s new game was launched, and the download volume exceeded 20 million.
MiHoYo’s turn-based role-playing game “Honkai: Interstellar Railway” started its public beta on April 26, and today its downloads have exceeded 20 million. “Honkai: Interstellar Railway” is the fourth part of MiHoYo’s Honkai series of games. It passed the review in January this year and obtained the version number. After the game opened for pre-order download on April 23, it topped the app store game charts in more than 130 countries and regions including China, the United States, Japan, and South Korea, breaking the record of another popular game under Mihayou, “Yuanshin”. record.
Harmonicare’s capital chain is suspected to be interrupted.
Harmonicare Medical’s Beijing Harmonicare Women’s and Children’s Hospital Baiziwan District is currently in arrears of rent, employee wages and supplier payments, and hundreds of customers are seeking refunds. Harmonicare Medical was once the largest private obstetrics and gynecology hospital group in China and was listed in 2015. This Putian hospital group once owned a maximum of 17 hospitals. After turning from profit to loss in 2018, it began to sell its hospitals, and was delisted by the Hong Kong Stock Exchange in 2021. At present, a new investor plans to acquire Hemeibaiziwan Campus, the equity transaction is still in progress, and the debt problem has not yet been resolved.
China CDFG’s first-quarter revenue rose while net profit fell.
China CDFG’s revenue in the first quarter increased by 24% year-on-year to 20.8 billion yuan, and a quarter-on-quarter increase of 38%, but net profit fell by 10% year-on-year to 2.3 billion yuan. The company said that the sales of offline stores showed a significant rebound. It is expected that with the implementation of more convenient duty-free shopping methods such as “buy now and pick up” in Hainan from April 1, the company will further reduce logistics costs and ease the pressure on pick-up points on outlying islands (duty-free goods accounted for 48% of sales last year). The company’s share price has fallen by more than 25% this year.
In the first quarter, Huawei’s mobile phone sales in China increased by 40% year-on-year.
Industry research firm Counterpoint Research released a report today saying that sales of smartphones in China continued to decline in the first quarter of this year, with only Apple and Huawei growing among major brands. Among them, Huawei grew by 41% year-on-year due to factors such as low base and return to normal product release cycle. With the help of earlier price reduction subsidies, Apple’s sales in the first quarter increased by 6% year-on-year, and its market share also increased to 19.9%, the highest in the same period since 2014.
For the first time, the renminbi has surpassed the U.S. dollar in cross-border transactions in China.
According to the State Administration of Foreign Exchange, the yuan’s share of China’s cross-border transactions rose from almost zero in 2010 to a record high of 48% at the end of last month; the dollar’s share fell from 83% to 47% over the same period. However, the increase in transaction volume was mainly driven by securities transactions between capital markets in mainland China and Hong Kong, while the share of RMB in global payments was still small (2.3%).
Beijing’s service consumption in the first quarter increased by 25.6% compared with 2019, and the total retail sales increased by 2.8%.
According to the data disclosed by the Beijing Municipal Government Information Office, the total consumption in the Beijing market in the first quarter increased by 14.7% compared with 2019, of which service consumption increased by 25.6%, and the total retail sales increased by 2.8%. In addition, Beijing’s key business districts had a passenger flow of 530 million, and the number of tourists is expected to be 57.9 million, an increase of more than 10% over the same period of the previous year.
In the first quarter, the profits of industrial enterprises above designated size fell by 20%.
According to the National Bureau of Statistics, from January to March, the total profits of industrial enterprises above designated size nationwide were 1,516.74 billion yuan, a year-on-year decrease of 21.4%. Among the 41 major industrial sectors, the total profits of 10 industries including wine, beverages, tea, and tobacco products increased year-on-year, while 28 industries such as agricultural and sideline food, medicine, and automobiles declined to varying degrees. Among them, business owners in industries such as food and automobiles are due to faster cost growth, while industries such as medicine and furniture are mainly due to insufficient demand. According to the definition of the Bureau of Statistics, industrial enterprises above designated size are industrial legal entities with an annual main business income of 20 million yuan or more.
The profit of Shanghai Film Company in the first quarter exceeded 30 million yuan, half of which came from non-operating income.
In the first quarter, Shanghai Film achieved a revenue of 178 million yuan, a year-on-year increase of 12.90%, and a net profit of 35.9757 million yuan, a year-on-year increase of 2894.58%. The huge increase in profit is due to the fact that the box office of the Spring Festival stalls is better, and the lease terms of some theaters have been changed, which reduces the rental cost; RMB 10,000 in asset disposal gains and losses.
Suning.com and Meituan jointly issued a subsidy of 100 million yuan during May Day.
Suning.com and Meituan jointly announced that they will distribute 100 million yuan in subsidies from April 27 to May 7, benefiting all 3C categories. In October last year, Suning.com and Meituan reached a strategic cooperation and put Suning.com’s stores in Meituan. The person in charge of Suning.com’s Meituan business said that 70% of the plan to open more than 1,000 stores in 2023 has been completed, and it is expected that the annual target will be completed ahead of schedule in the third quarter.
Samsung said customers will start purchasing memory chips in the second half of the year.
Against the backdrop of a slowing macro economy and weak customer spending, Samsung Electronics’ first-quarter net profit fell 95% year-on-year to 640 billion won (about 480 million U.S. dollars), the lowest since 2014. However, the company said that by the second half of this year, customer inventories will shrink to normal water levels and start purchasing chips. Memory chips are the second largest market segment in the entire chip industry, and the cycle span is usually 3 to 4 years. As leading manufacturers begin to substantially reduce production, market analysis mostly believes that the relationship between supply and demand will return to normal in the second half of the year.
Danone’s revenue growth in the first quarter was the highest in a decade.
Danone, the world’s largest yogurt maker, saw its first-quarter sales increase by 10.5% year-on-year to 7 billion euros, the largest increase in the past decade, with similar growth rates for dairy and plant-based products, professional nutrition, water and beverages. Among them, China, North Asia and the Pacific region have the fastest growth rate, with a year-on-year increase of 16%. Mainly driven by sales volume, the price only increased by 1.7% year-on-year. But in other parts of the world, prices rose by more than 10%, but sales in other regions were basically flat except for a 4% drop in sales in Europe.
Amazon notified the cloud computing department to begin layoffs.
On Wednesday, Amazon notified employees that it will start layoffs in the AWS cloud computing department and human resources department, involving offices in the United States, Canada and Costa Rica. The AWS CEO stated in the letter to all employees that in recent years, the scale of the AWS team and business has been expanding rapidly (it contributed 40% of the new revenue last year), and now it is necessary to concentrate resources on high-priority work, which will lead to some “Job Disappearance” and “Project Adjustment”. Amazon did not disclose the number of layoffs, and its shares rose about 3% on Wednesday afternoon. This is part of a previously announced 9,000-person layoff plan, which includes advertising, games, and Twitch live broadcasts.
Deutsche Bank has been profitable for 11 consecutive quarters, but will cut 800 jobs.
Deutsche Bank’s net revenue in the first quarter was 7.328 billion euros, a year-on-year increase of 1%, and its net profit was 1.227 billion euros, a year-on-year increase of 18%, the highest level since 2013. It also marked Deutsche Bank’s 11th consecutive quarter of profitability following a major strategic restructuring in 2019. In addition, the bank announced that it will cut 800 senior staff in order to further save costs.
Singapore raised the stamp duty on home purchases to control the rapid rise in house prices.
Singapore is cooling an overactive real estate market by raising property taxes. According to official data, the overall private housing prices in Singapore have risen for 12 consecutive quarters, and the current housing prices in Singapore are about 17,000-31,000 Singapore dollars per square meter (about 88,000-166,000 yuan). The Singapore government stated that the local demand in the real estate market is strong and external capital continues to flow in. If it is not controlled, house prices may exceed economic fundamentals. Adjustment of taxes to Additional Buyer’s Stamp Duty (ABSD) on real estate:
- The tax rate for Singapore citizens buying a second residential property has been increased from 17% to 20%, and the tax rate for third and above homes has been increased from 25% to 30%;
- The tax rates for Singapore permanent residents who purchase the second and third homes are increased by 5 percentage points, to 30% and 35% respectively;
- The tax rate for foreigners buying any residential property was increased from 30% to 60%.
Activision Blizzard’s net bookings grew by double digits in the first quarter, and it will actively cooperate with Microsoft to pass the UK antitrust review.
Activision Blizzard’s net bookings in the first quarter increased 25% year-on-year to $1.86 billion, mainly driven by “Call of Duty” and “Candy Crush”. Net revenue rose 35% to $2.38 billion, and MAU fell slightly by 4 million to 368 million. The CEO also said that he would actively work with Microsoft to appeal the UK regulator’s decision against the takeover. Net revenue in the Asia-Pacific region, where China is located, increased by 36% year-on-year, and the proportion of revenue remained unchanged at 13%. The termination of the contract between Blizzard Entertainment and NetEase had incurred a cost of 4 million US dollars, and no other significant impact on the financial report has been seen yet.
President of Lenovo Asia Pacific: The PC industry is expected to return to growth in the second half of the year.
Recently, the president of Lenovo Group Asia Pacific said that the PC industry is expected to return to growth in the second half of this year, and the growth rate will be higher than the level before the epidemic. At present, the PC industry is correcting the previous inventory level, and it will take 1-2 quarters to digest. Global PC shipments have continued to decline since the fourth quarter of 2021. In the first quarter of 2023, global PC shipments fell to 54 million units, a double-digit year-on-year decline for four consecutive quarters.
AstraZeneca’s performance in the first quarter exceeded expectations, and anticancer drugs made up for the revenue gap of new crown drugs.
AstraZeneca’s total revenue in the first quarter of 2023 was US$10.88 billion, a year-on-year decrease of 4%. But realized a profit of 1.8 billion US dollars, much higher than the 388 million US dollars in the same period last year. Among them, the increase in anti-cancer drug revenue made up for the $1.46 billion decline in sales of new coronary pneumonia drugs. AstraZeneca’s three best-selling anti-cancer drugs Tagrisso, Imfinzi and Lynparza generated a combined sales of US$2.951 billion in the first quarter. Excluding COVID-19 drugs, AstraZeneca’s total revenue would have risen 15% year-over-year.
Airbus says the parts shortage will continue until 2025.
Airbus CEO Guillaume Faury said on Wednesday that Airbus’ parts shortage could last until the end of 2024 or even 2025. In the first quarter of this year, Airbus delivered 127 aircraft due to parts shortages, less than Boeing. Guillaume Faury said that the mismatch between supply and demand is a big problem for Airbus at present. Airbus not only lacks parts such as seats, but also needs raw materials and workers. In addition, there are still global logistics problems. After the epidemic, the aircraft manufacturing industry will experience a capacity crisis for five or six years.
Dozens of companies that merged with SPACs have run out of cash, and at least a dozen have gone bankrupt.
Dozens of companies that went public through mergers with special purpose acquisition companies (SPACs) have run out of cash and are about to join the ranks of bankruptcies, with at least a dozen so far. The special purpose acquisition company is a financing method of backdoor listing. The company raises funds through IPO, acquires or merges a non-listed company with good potential, and thus obtains the qualification of a listed company. Electric vehicle company Faraday Future, electric skateboard company Bird, and more than a hundred companies have entered the capital market through this method. According to statistics, the stock prices of many of these companies have already fallen below $1. Satellite launch company Virgin Orbit, which merged with a SPAC in 2021, filed for bankruptcy protection this month.
The “contradiction” between Google CEO and DeepMind continues to the top.
According to media reports, Sundar Pichai, CEO of Google parent company Alphabet, has been complaining to those around him that he cannot control other company executives. Alphabet’s DeepMind CEO Demis Hassabis is reluctant to listen to Sundar Pichai, sharing code with Brain, Google’s artificial intelligence unit. Hassabis chose to communicate directly with Google founder Larry Page in order to maintain DeepMind’s independence. The recent DeepMind-Google Brain merger was decided by the board, not Sundar Pichai.
Rolex sales topped the list for six consecutive years, with sales growth of 79% in four years.
According to the Morgan Stanley report, Rolex will rank first among watch brands for six consecutive years with sales of 9.3 billion Swiss francs (approximately 72.4 billion yuan), and its sales will increase by about 79% in four years. In 2023, Rolex’s market share will expand to 29%, and its sales will be greater than the sum of the second to fifth watch brands. From 2019 to last year, Rolex production increased from about 950,000 to about 1.2 million, but its sales increased from 5.2 billion Swiss francs to 9.3 billion Swiss francs.
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