Original link: https://www.latepost.com/news/dj_detail?id=1558
We used GPT-4 to ask Wenxin Yiyan 20 questions, and here are their answers
“Lawan Finance” was invited to participate in the product launch of Baidu Wenxin Yiyan today. Li Yanhong successively showed the demonstration videos of the five functions of Wenxinyiyan literary creation, commercial copywriting creation, mathematical logic calculation, Chinese understanding, and multi-modal generation.
Wen Xinyiyan in the video can help Liu Cixin continue writing “The Three-Body Problem”, customize the company’s name and Slogan (slogan), use “Luoyang Zhigui” to write Tibetan acrostic poems, solve “chicken and rabbit in the same cage” math problems, and can also be customized according to needs Generate posters and promo videos…
Maybe because it was displayed in the form of recording and broadcasting, or maybe because the jewels of GPT-4 were in the front, we felt that the atmosphere of the whole press conference was a bit dull, and there was almost no applause from the audience from the beginning to the end. According to our observation, Baidu’s partners are seated in the first row, and the media are in the last few rows.
About 10 minutes after the opening of the press conference, Baidu’s Hong Kong stock price began to dive, and finally closed down 6.36%, closing at HK$125.1 per share, but it was still nearly 20% higher than the end of November last year before the release of ChatGPT.
Li Yanhong said that he knew that Wenxinyiyan still had many imperfections, but because of the existence of market demand and the need for human feedback and user use of the AI model itself, it was released at this time.
After receiving the invitation code of Wenxin Yiyan internal test tonight, we experienced it immediately, and gave the interview opportunity to New Bing, which has embedded GPT-4. The following is the outline of the interview it listed for Wenxin Yiyan, with a total of 9 questions.
Most of Wen Xinyiyan’s answers were fluent and natural, but some of the questions failed to understand the intention of the questioner well. For example, it misjudged the other party’s title at the beginning, and missed its own birth date, and also mistakenly identified the referent as Baidu in regulatory-related issues. In addition, when it comes to subjective issues such as interests, hobbies, dreams, etc., Wenxinyiyan is cautious and will not reveal emotions as easily as GPT-4 behind New Bing.
In order to verify the key functions at the press conference, we asked New Bing to come up with five literary creation questions for Wen Xin Yi Yan.
The first two questions barely pass:
But then just:
Then there are questions on mathematical logic.
Here is the answer from the heart:
Finally, we also asked Wenxinyiyan to give the questions it interviewed GPT-4:
The above is our preliminary test of Wenxinyiyan, which has just been tested internally. If you have any questions of interest – ask us or ask Wenxin large model – you can leave us a message in the background. We’re trying to do another Q&A collection. (Qiu Hao)
Shell continuous profit
Under various challenges, Keike achieved a net income of 16.7 billion yuan in the fourth quarter of last year, exceeding the upper limit of performance guidance and market consensus expectations. Keike said that this is due to the improvement in the trend of second-hand housing transactions at the end of last year and the low base effect in the same period in 2021. They see the recovery of the second-hand housing market in Chengdu and some cities in the Yangtze River Delta.
It is not easy to see the help of the new housing business to the performance. This part of the growth mainly comes from the expanded cooperation with real estate countries and central enterprises. The latter has more abundant cash flow, housing reserves and willingness to develop real estate. Cooperating with them can at least ensure payment. This is more important than anything else for the real estate industry in 2022.
- Shell revenue in the fourth quarter was 16.7 billion yuan, a year-on-year decrease of 5.84%;
- Second-hand housing transaction revenue was 5.28 billion yuan, a year-on-year decrease of 11.78%;
- New housing transaction revenue was 8.281 billion yuan, a year-on-year decrease of 26.78%;
- It has been profitable for two consecutive quarters, with an operating profit of 387 million yuan and a profit margin of 2.31% in the fourth quarter.
“We continue to iterate the developer risk assessment system to pre-manage business risks. The proportion of fast commissions reached 44% in the fourth quarter, doubling the proportion from the beginning of the year… The proportion of state-owned enterprise developers continued to increase, and the proportion of state-owned enterprise sales increased to 44%. 45% of the quarter.” Shell management said at the performance meeting. Even their new housing business has a net write-back of 206 million yuan in bad debts throughout the year.
Controlling costs and expenses is what almost all companies have to go through in recent years. From the company level, the major adjustments made by Keke in the first half of last year paved the way for the performance in the second half of the year. It’s just that suffering is not average.
At the end of 2022, the balance of Shell Cash and long-term and short-term wealth management totaled 78.3 billion yuan, an increase of 7.3 billion yuan over the previous year. In addition, we have noticed that the sales expense ratio of shells has risen sharply in the fourth quarter, which is related to the expansion of the home improvement business and the recovery of the housing agency sales business. Shell estimates that the revenue range in the first quarter of this year will be 18 billion to 18.5 billion yuan, corresponding to a year-on-year growth rate of 43% and 48%, respectively. (Gong Fangyi)
Party and State Institutional Reform Plan Announced
According to Xinhua News Agency, the Central Committee of the Communist Party of China and the State Council recently issued the “Party and State Institutional Reform Plan” and issued a notice requiring all regions and departments to implement it in light of actual conditions. The adjustments proposed in the Plan are as follows:
Party Central Organization Reform
The Central Financial Commission and the Central Science and Technology Commission were established. Strengthen the centralized and unified guidance of the Party Central Committee on corresponding fields, including top-level design, overall planning and coordination, research and deliberation on major policies and major issues, etc.;
Formation of the Central Financial Work Committee. Guide a series of party building work in the financial system;
Formation of the Central Social Work Department. Responsible for coordinating and guiding people’s letters and visits, proposal collection, etc., guiding the capacity building of urban and rural community governance systems, formulating social work policies, etc., and coordinating the promotion of party building to lead grassroots governance and grassroots political power construction.
The Central Hong Kong and Macao Work Office was established. Responsible for the investigation and research, overall planning and coordination, and supervision and implementation of duties in the implementation of “one country, two systems”, the implementation of the central government’s overall governance power, the rule of law in Hong Kong and Macao, the protection of people’s livelihood and well-being, and support for the integration of Hong Kong and Macao into the overall development of the country.
Reform of the National People’s Congress
Formation of the National People’s Congress Standing Committee Delegate Working Committee. Responsibilities include allocation of NPC deputies, qualification review and other related work, guiding and coordinating deputies’ centralized inspection, special research, contacting the masses and other related work.
State Council Institutional Reform
Technology: Reorganized the Science and Technology Department. Promote the transformation of scientific and technological achievements, and the integration of economic and social development.
Finance: Formation of the State Administration of Financial Supervision and Administration. Responsible for the supervision of the financial industry other than the securities industry, strengthen regulatory responsibilities, and coordinate the protection of financial consumer rights; the China Securities Regulatory Commission has been adjusted to an institution directly under the State Council. Strengthen capital market supervision responsibilities.
Digitization, agriculture and rural areas, aging work, intellectual property rights, etc.: Establish the National Data Bureau to coordinate and promote digital China, digital economy, and digital society planning and construction; optimize the responsibilities of the Ministry of Agriculture and Rural Affairs, coordinate the work of agriculture, rural areas, and rural areas, including organizing support for industrial development Strengthen the responsibility of the Ministry of Civil Affairs in related fields such as the aging work system, develop social undertakings and public services; adjust the State Intellectual Property Office to an institution directly under the State Council; adjust the State Letters and Calls Bureau to an institution directly under the State Council.
Others: Reducing the staffing of central state agencies. The uniform reduction is carried out at a rate of 5%, and the recovered preparations are mainly used to strengthen key areas and important work. The staffing reduction work of local party and government organs shall be determined by the party committees of each province (autonomous region, municipality directly under the central government) in combination with actual research. There is no reduction requirement at the county and township levels.
The document mentioned that reform tasks at the central level should be completed by the end of 2023, and reform tasks at the local level should be completed by the end of 2024. The progress and major issues shall be reported to the Party Central Committee in a timely manner. (Lin Guangying)
Zara maintains the first position in fast fashion and distances itself from its opponents
In the 12 months ended January 31, sales of Inditex Group, the parent company of Zara, increased by 17% year-on-year to 32.6 billion euros, and net profit increased by 27% year-on-year to 4.1 billion euros, both hitting new highs. Among them, over 70% of the sales came from the Zara brand.
The sales growth was partly due to higher costs and a huge increase in the price of clothing, but Zara managed to get consumers to pay for it. In contrast, its peer H&M saw its operating profit drop sharply by nearly 90% from September to November last year. The reason is that it is worried that the price increase will lose consumers, so it bears part of the rising cost.
Obviously, Zara’s cost shifting ability is stronger. This is largely due to its responsive supply chain model, with many people willing to pay a little more for new clothes even under inflationary pressure. According to several analysts, the price of Zara’s early spring series was raised by more than 5% earlier this year, but it did not seem to affect demand.
Zara is also developing towards high-end and localization. One path is to cooperate with local designers to launch joint products. For example, at the beginning of last year, Zara cooperated with Chinese designer brand SUSAN FANG for the first time to launch a joint series.
SHEIN, often regarded as Zara’s most powerful competitor, according to media reports, achieved revenue of 22.7 billion U.S. dollars last year and a profit of 700 million U.S. dollars. Converted by this caliber, the annual growth rate of revenue has dropped to about 10%, and the profit has dropped by 36% year-on-year. SHEIN has a faster supply chain, is striving for branding, and has shown certain strength in the rapidly changing macro environment, but is surrounded by powerful enemies, and the margin of safety created by traditional paths is fading. (Gong Fangyi)
Swiss central bank shot, Credit Suisse did not change Ruixing
Credit Suisse Bank announced on the 16th that it will borrow as much as 50 billion Swiss francs from the Swiss National Bank and plans to repurchase debt with about 3 billion Swiss francs. After the news was released, U.S. stocks rose nearly 6% before the market, and European stocks rose by as much as 40%, the largest increase in history (narrowed to 17% in the evening), just two days after the previous drop of more than 25% to create the largest drop in history Inside.
On the 15th, after Credit Suisse revealed that there were major flaws in the internal control of financial reports, the stock price fell sharply (Credit Suisse underwrote Ruixing’s US stock IPO), and then the chairman of the largest shareholder, the National Bank of Saudi Arabia, said that he would never provide more assistance to Credit Suisse. On the next day (16th), Wall Street was discussing the cooperation between the Federal Reserve and the US Treasury Department to assess the transaction risk of the country’s financial institutions to Credit Suisse, and the European Union also stepped up to formulate a resolution plan for bankrupt banks.
It wasn’t until this time that the Swiss National Bank’s statement helped Credit Suisse temporarily get rid of the crisis of confidence. After some people got the bottom line, the chairman of the National Bank of Saudi Arabia also said in an interview with the media that the market’s panic about Credit Suisse is groundless, and that US regulators have cut off the possibility of any spillover from the Silicon Valley Bank crisis.
Credit Suisse’s crisis is more due to itself, and it has little to do with Silicon Valley Bank. From the huge investment losses of Greensill with related transactions, Archegos, and now the self-disclosure of major deficiencies in internal controls are the external manifestations of chaos, so that it almost became the central node of the banking crisis spreading in Europe. (Intern Fu Xiaoyu)
CHART OF THE DAY | From January to February this year, the total electricity consumption of industries increased
According to the National Energy Administration, the electricity consumption of the whole society from January to February increased by 2.3% year-on-year, of which the electricity consumption of the primary industry and the secondary industry increased by 6.2% and 2.9% year-on-year respectively, and the electricity consumption of the tertiary industry decreased by 0.2% year-on-year. This may be related to the epidemic at the end of last year and the beginning of this year. For example, some small restaurants directly let their employees take vacation until after the Spring Festival during the epidemic. (Lin Guangying)
Note: It is generally believed that the higher the electricity consumption, the more productive activities. In the long run, it can also reflect changes in industrial structure and production efficiency.
OTHER NEWS
Meituan Maicai broke even and restarted its East China expansion plan.
According to the exclusive news from “LatePost”, Meituan Maicai achieved positive gross profit in several months last year. It restarted the Suzhou Kaicheng plan that was shelved at the beginning of last year last month, and plans to start a new expansion in East China under the premise of ensuring a balance of profit and loss. During the epidemic, Meituan’s vegetable shopping business grew by more than 30%, while reducing costs and increasing efficiency, and constantly moving closer to profitability. According to insiders, due to the influence of Dingdong Maicai in the East China market, Meituan Maicai has always been cautious about expanding in the region. Now it is more confident to try it in the most competitive market.
Hema is about to expand the distribution area and restart the expansion of MINI stores.
According to the exclusive news from “LatePost”, Hema will soon expand its delivery range across the country, and will launch a one-hour free delivery service within 3-5 kilometers online. It will also restart the expansion of the Hema MINI store in the community supermarket. It is expected to bring more new orders in second- and third-tier cities with fewer stores, but it will also increase costs. At present, there are only more than 20 Hema MINI stores in the country. The goal of this restart is to fill the areas that Hema Xiansheng stores have not yet covered.
The former senior vice president of Didi joined Manbang and was responsible for the platform and regional business divisions.
According to exclusive news from LatePost, Fu Qiangyu, the former senior vice president of Didi, recently joined Manbang and took over the platform business department and regional business department of Manbang. Many people close to Manbang believe that the overall growth rate of Manbang’s main cross-city freight business is slowing down, and revenue is affected by policies, so it needs to be transformed. Fu Qiang’s past experience in Didi can improve the operating efficiency of Manbang , Improve service quality.
TikTok responded to being forced to sell, saying that the withdrawal of Chinese shareholders would not solve the problem.
According to media reports, the Biden administration is asking TikTok’s Chinese owners to sell their shares, otherwise TikTok may be banned in the United States. TikTok executives have stated that 60% of ByteDance’s shares are held by global investors, 20% are held by employees, and the other 20% belong to the founders.
TikTok responded in a media statement: “If protecting national security is the goal, divestment does not solve the problem: the change of ownership will not change data flow or access,” and said the best solution is to be transparent and based on The U.S. approach protects U.S. user data and systems, including the third-party monitoring, review, and verification measures it already implements. TikTok CEO Week Funding will attend a hearing in the U.S. Congress next week.
The market believes that if TikTok is eventually banned, social media such as Snapchat and Facebook may welcome back some users from short videos. The stock prices of Snap and Meta rose by 8% and 3% respectively that day.
“Human World” is very popular, and China Literature Group’s net profit in 2022 will increase by 9.6%.
China Literature Group’s total revenue in 2022 will be 7.63 billion yuan, a year-on-year decrease of 12%, and its net profit attributable to the parent company will be 1.35 billion yuan, a year-on-year increase of 9.6%. In 2022, China Literature Group launched a number of drama series such as “The World”, “Heart”, “The Basic Law of Genius”, and “Daily Life of Qingqing”, among which “The World” set a new high in the ratings of CCTV’s prime time in the past 8 years. Ranked first on each list.
ZTO Express’ market share will expand to 22.1% in 2022.
ZTO Express’ parcel volume in 2022 will increase by nearly 10% year-on-year to 24.4 billion. Thanks to the 8.1% increase in single-ticket prices and the improvement in stacking efficiency, the final annual revenue increased by 16% year-on-year, gross profit increased by nearly 40%, and adjusted net profit was 6.8 billion yuan. According to the company’s announcement, ZTO’s market share expanded by 1.5 percentage points to 22.1% last year, consolidating its No. 1 position.
BIGO’s overseas live broadcast business is stable, and short videos continue to shrink.
Huanju Group’s 2022 revenue will be 2.41 billion US dollars, and more than 80% will come from BIGO. Among them, the number of monthly active users (MAU) of the overseas live broadcast application Bigo Live increased by 14% year-on-year to 36.8 million, and the growth rate accelerated; the total number of paying users increased slightly by 2.6% to 1.55 million, but the per capita income of paying users fell by more than 20%, management said It is macroeconomic uncertainty that affects users’ willingness to spend. Overseas short video app Likee continued to shrink, with MAU dropping by more than 30% year-on-year to 45.3 million.
In February, the sales prices of commercial housing in 70 large and medium-sized cities rose month-on-month.
According to the National Bureau of Statistics, among the 70 large and medium-sized cities in February this year, the number of cities with rising sales prices of new commercial housing and second-hand housing was 55 and 40, respectively, an increase of 19 and 27 compared with January. The sales prices of commercial housing in first-tier cities rose as a whole; year-on-year, the sales prices of commercial housing in first-tier cities rose, while the decline in second- and third-tier cities narrowed.
Cathay Pacific increases the number of scheduled flights between Shanghai and Hong Kong.
Starting from March 26, Cathay Pacific will reopen the scheduled route from Shanghai Hongqiao to Hong Kong, with one flight per day in the initial operation. From April 4th, we will add two flights per week to nine flights per week, and the capacity will return to the pre-epidemic level by then. Cathay Pacific continues to maintain five daily direct flights between Shanghai Pudong and Hong Kong. Shanghai has dual airports, Hongqiao mainly handles domestic and a few cross-border flights, and is about 20 kilometers away from the city center. International flights are concentrated at Pudong Airport, about 40 kilometers from the city center.
Japan hopes that the loosening of regulations on the entry of Chinese tourists will boost local tourism revenue.
According to the Japan National Tourism Administration, affected by port management, the number of Chinese tourists visiting Japan in February this year was still 95% lower than the same period in 2019, to only 36,000. The overall number of tourists visiting Japan recovered to 57% of the same period in 2019. Before the epidemic, nearly one-third of tourists in Japan came from China, and 40% of the total consumption of tourists came from Chinese. Japan has relaxed port management for Chinese tourists from March 1, and it is expected to welcome more Chinese tourists.
The Ministry of Culture and Tourism will resume accepting and approving foreign-related commercial performances from March 20.
The Ministry of Culture and Tourism issued the “Notice on Optimizing the Management Policy of Foreign-related Commercial Performances” today, deciding to resume the acceptance and approval of foreign-related commercial performances from March 20, 2023. Previously, the Ministry of Culture and Tourism has notified all localities to resume the acceptance and approval of commercial performances involving Hong Kong, Macao and Taiwan from February 16.
Platinum is likely to rise in price, partly because of a revival in Chinese jewelry demand.
The World Platinum Investment Council (WPIC) expects the global platinum shortage to deepen further this year. Last year, there was a global surplus of about 22 tons of platinum, which is expected to turn into a deficit of about 17 tons this year. The main reason is that on the one hand, South Africa, which accounts for 70% of the global platinum production capacity, continues to suffer from electricity shortages and is expected to reduce production; in addition, the downstream demand for automotive catalysts and jewelry will increase. Many forecasts believe that China, the world’s largest jewelry market, will usher in a new year. recovery.
It is reported that Foxconn has become the supplier of AirPods for the first time and will produce in India.
According to media reports, people familiar with the matter said that Foxconn has become a supplier of Apple AirPods for the first time. Previously, AirPods were mainly manufactured by mainland Chinese manufacturers such as Luxshare Precision and Goertek. Due to the low profit margin of this product, Foxconn had internally discussed this for several months, and finally decided to accept the order and consolidate the cooperative relationship with Apple. The news also said that at the request of Apple, Foxconn will produce AirPods in India and plans to invest 200 million US dollars to build a factory in India.
ASML suppliers collectively went to Southeast Asia to evaluate and set up factories.
According to documents disclosed by the Dutch government and public organizations, more than a dozen suppliers of lithography machine giant ASML will visit Southeast Asian countries such as Vietnam and Malaysia to evaluate local investment and set up factories. The main purpose is to diversify risks. Last week, the Netherlands announced it would roll out new semiconductor export controls, which could come into force as early as this summer.
Japan announced the removal of restrictions on the export of key semiconductor materials to South Korea.
On March 16, after the meeting between the leaders of the two countries, Japan announced the cancellation of export restrictions on three key semiconductor materials to South Korea, and South Korea also decided to withdraw its complaint to the WTO. The export restriction began in 2019. Unlike China and the United States, the reason behind it is mainly the historical dispute between the two countries, and analysis says that the restriction is more symbolic, because Japanese companies can still sell raw materials to South Korea through overseas factories. Still, the move to lift restrictions means improved prospects for relations and industrial cooperation between the two countries.
Because of inflation, the cost of Samsung’s chip factory in Texas has soared.
According to media reports, Samsung Electronics’ chip factory in Texas is expected to cost more than US$25 billion, US$8 billion more than initially forecast, due to rising labor and building material costs. The cost of building a factory in the United States is already high, and TSMC executives said it is about four times that of Taiwan, China. Earlier, they also added an additional 3.5 billion US dollars for the construction of a new factory in the United States. Rising costs may make the subsidies promised by the “Chip Act” even more tasteless. The US government has prepared a total of 39 billion US dollars for direct factory construction. Samsung had already hesitated to apply because the “Chip Act” imposed too harsh conditions on the subsidy.
The payment platform Stripe raised $6.5 billion, and its valuation was cut by nearly half.
American online payment platform Stripe announced that it has raised more than $6.5 billion. In this round of financing, Stripe was valued at US$50 billion, which has shrunk significantly from the US$95 billion valuation in March 2021. Stripe said the financing will be used for employee equity incentives and the acquisition of stock from employees. Stripe’s customers include Google, Shopify, Amazon, etc. GIC, Goldman Sachs and Temasek participated in this round of financing. Stripe is also related to the recent hot GPT-4, which will provide billing and checkout functions for OpenAI.
Virgin Orbit will suspend operations for a week and leave staff without pay due to financial difficulties.
The company was hit hard in January when Virgin Orbit’s failed attempt to launch nine satellites. Management said the outage was to buy time to hammer out a new investment plan to help out. “Virgin Orbit” and “Virgin Galactic” belong to the British billionaire Richard Branson. The latter’s goal is to send tourists to the edge of the atmosphere to experience weightlessness for 4 minutes at a price of 450,000 US dollars. However, the plan has been postponed many times. The latest The time is the second quarter of this year.
Schematic diagram of satellite launch failure (Source: Virgin Orbit)
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