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Report: Xiaomi Group plans to allocate shares in a way that replaces old ones with new ones, raising up to 5.3 billion dollars.
Xiaomi plans to place 0.75 billion shares at a price of HKD 52.80-54.60 per share, representing a discount of 4.2% to 7.4% compared to its latest closing price in Hong Kong. Lei Jun stated in 2021 that the company plans to invest 10 billion USD in the electric vehicle sector over the next decade.
Express News | Jack Ma-backed, Ant Group Co., utilized semiconductors manufactured in China to create methods for training AI models, resulting in a 20% reduction in costs, according to sources (Bloomberg)
The market continues to shrink and adjust, raising concerns about a retreat in the Siasun Robot&Automation Sector. Can the deep-sea Technology Concept hold the flag and launch a counterattack?
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Full text of Meituan's conference call: Fully entering AI, Bullish on the high profit margins in the Middle East market, pilot social security for riders to start in the second quarter of this year.
Meituan significantly enhanced employee productivity through the self-developed large model "Totoro", achieving 27% of new code generated by AI, a 44% reduction in the BD team's workload, and over a 20% increase in AI customer service efficiency. This year, plans are to launch an AI assistant covering all services and expand into the Siasun Robot&Automation and autonomous driving fields. In overseas Business, Meituan's brand Keeta operates delivery services in six major cities in Saudi Arabia; in the Middle East and other markets, the average Order value is much higher than in China, and users are more willing to pay for services, with delivery Business profit margins also exceeding those domestically.
Meituan's Q4 revenue grew by 20% year-on-year, new business losses narrowed, and overseas market expansion accelerated | Earnings Reports insights.
Meituan's total revenue in Q4 increased by 20.1% year-on-year, with a net income of 6.22 billion yuan, representing a year-on-year increase of 180.7%, but a quarter-on-quarter decrease of 51.6%. New business losses further narrowed, and the company accelerated its exploration of overseas markets, expanding Keeta to all major cities in Saudi Arabia.
Kai-Fu Lee: In the future, there will likely only be three major models left in China.
They are DeepSeek, Alibaba, and ByteDance. Li Kaifu stated that the competition in the large model industry in China is still very fierce, with DeepSeek currently having the strongest momentum, while ByteDance has an advantage due to its user base and monetization channels.
