Baidu Geely joint venture CEO or settled; Xingsheng youyou will raise $3 billion

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Must read today’s science and technology Morning Post
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Chinese Academy of engineering and Guizhou Association for science and technology
On February 17, Wang Li, chief engineer of Guizhou Maotai, was shortlisted as a candidate for academician of the Chinese Academy of engineering. It is difficult to recommend researchers dedicated to the research of “wine making” technology to select academicians to represent the strategic direction of “rejuvenating the country through science and technology,” the cnr.com said in a comment.
On the 18th, the Guizhou Provincial Association for science and technology, the recommending unit, responded that Wang Li was selected into the expert group of the Department. According to the selection criteria, she reviewed her invention patents, papers and works, scientific and technological awards, and evaluated after engineering design, and all “conformed to the rules and procedures”. According to the official website of Maotai, Wang Li has made active exploration and contribution in the scientific research field of Maotai, and has won many honors such as the second prize of national technological invention.
It is reported that Xia Yiping, co-founder of Mobai, will be the CEO of Baidu Geely joint venture
Baidu and auto maker Geely have hired Xia Yiping, co-founder and former chief technology officer of mobike, to be CEO of the new electric vehicle business, according to two people familiar with the matter. Baidu announced last month that it will set up a company with Zhejiang Geely Holding Group to build a smart car through Geely’s ability in car building and Baidu’s technical cooperation in the field of automatic driving. Baidu declined to comment, while a Geely spokesman said he was not aware of the appointment.
Xia Yiping had been the CTO of Mobai until Mobai was acquired by meituan in 2018. Baidu’s share price has more than doubled since Reuters first reported last December that it plans to build its own electric car.
Xingsheng optimization is about to complete the $3 billion financing and is learning to burn money
Latepost exclusively learned that Xingsheng Youyou, a community group buying start-up company, will complete an investment of US $3 billion, led by Sequoia Capital, followed by Tencent, Fangyuan capital, Temasek, KKR, DCP, Chunhua capital and Evergrande. After the completion of the last round of financing, it will be valued at US $5 billion, and at least US $8 billion after the completion of this round of financing.
This is the fourth financing completed by Xingsheng preferred in the past 12 months, with a total of US $4.6 billion. Established in 2013, Xingsheng youyou took the lead in exploring the community group buying mode of “pre-sale + self delivery”. At present, the transaction volume ranks the first in the industry, and the transaction of 40 billion yuan will be completed in 2020.
Board of directors: some former management involved in the planning of report letter
Since January 4, seven vice presidents, general managers and core business directors of some branches and 24 senior executives of lucky coffee have signed a joint letter to the board of directors of lucky coffee and Dazheng capital, claiming that “Guo Jinyi’s corruption, fraud through glove suppliers, low ability and personal interests have caused great hidden danger to the company”, and collectively demanding the removal of Guo Jinyi, the new chairman and CEO, Lucky coffee launched an internal investigation of Guo Jinyi.
After the board of directors’ Compliance Investigation on Guo Jinyi, a series of internal organizational restructuring of lucky coffee followed. The board of directors of lucky coffee then set up an independent group headed by one of the Provisional Liquidators Appointed by the court of caymann and participated by independent directors. The special working group hired external legal advisers and legal and political experts to form an investigation group, and instructed the investigation group to conduct a comprehensive and independent investigation into the charges involved in the request letter.
Shuidi company will go to the United States for IPO in three months, with a valuation of 10 billion US dollars
On February 18, the listing of shuidi company, an Internet insurance platform, was under intensive preparation. It will go to the United States for IPO in the next quarter, with the latest valuation reaching 10 billion US dollars. According to reports, the valuation of shuidi company in the angel round financing stage is about 300 million yuan. If the valuation of 10 billion US dollars is true, the company’s valuation has expanded more than 200 times in the past five years.
On July 23, last year, according to a report by Peng Bo, shuidi company will be listed as soon as the end of 2020, with an estimated IPO value of US $4 billion to US $6 billion, and is financing US $200 million in the primary market with a valuation of US $2 billion. Compared with the previous news from Bloomberg, the company’s valuation has increased by nearly $4 billion. As far as the core elements supporting the company’s valuation are concerned, shuidi company currently has three major business sectors: shuidi chips, shuidi mutual aid and shuidi insurance mall.
Gome’s internal speech on the first day of Construction: strive to restore its original market position in 18 months
On February 18, the official wechat account of Gome “Gome” published an article – “Mr. Huang Guangyu’s speech at the meeting of senior executives of Gome holding group: strive hard, climb the summit again! „ÄčThis is also the first time that Huang Guangyu, its founder, has made a public voice since he was officially released on the 17th.
In his speech, Huang Guangyu reviewed the first stage of Gome’s completion strategy in the past 34 years, and said that in 2021, Gome will further promote the extension and upgrading of the second stage of “home life” strategy, and promote the all-round upgrading of sharing platforms such as online “true happiness”, offline “Gome Home”, Gome electric appliances, and Zhenxuan open supply chain.
It is noteworthy that at the end of the speech, Huang Guangyu called out a new goal: “strive to use the next 18 months to make the enterprise restore its original market position.”
Baidu’s fourth quarter profit and performance outlook both exceeded expectations, pushing its share price up more than 3% after hours
China’s economy has novel coronavirus pneumonia and the video streaming media platform, which has benefited from the recovery of the recession triggered by the new crown pneumonia pandemic. The advertising in the fourth quarter of 2020 has increased, pushing the company’s quarterly profits to outpace the market. Driven by this, baidu shares rose more than 3% in after hours trading on Wednesday.
Baidu’s total revenue in the fourth quarter was 30.263 billion yuan, up 5% from 28.884 billion yuan in the same period last year. Not in accordance with U.S. GAAP, Baidu’s diluted earnings per American Depository Receipt in the fourth quarter was 20.08 yuan, exceeding Wall Street’s expected $2.61.
Iqiyi’s revenue last year was 29.7 billion, with 101.7 million subscribers

On February 18, iqiyi released its unaudited financial report for the fourth quarter and the whole year ending December 31, 2020. According to the financial report, iqiyi’s total revenue in fiscal year 2020 reached 29.7 billion yuan (about 4.6 billion US dollars), a year-on-year increase of 2%, of which the fourth quarter revenue was 7.5 billion yuan (about 1.1 billion US dollars), in line with previous expectations. By the end of the fourth quarter, iqiyi had 101.7 million subscribers.
In addition to membership and advertising revenue, iqiyi’s content distribution business achieved revenue of RMB 804.3 million in the fourth quarter, with a total revenue of RMB 2.7 billion in the whole year, an increase of 5% compared with that in 2019. Iqiyi had an operating loss of 1.3 billion yuan in the fourth quarter and 6 billion yuan in the whole year.
Huawei’s folding screen mobile phone “Huawei matex2” sends a poster again to confirm the folding form
On February 18, Huawei officially released a brand-new preheating poster of matex2, showing the side view of the product in the semi unfolded state. It can be basically confirmed that matex2 will adopt the folded in design scheme. At the same time, it is not difficult to find that, unlike the equal thickness body design of all folding screen mobile phones, Huawei’s matex2 adopts the unequal thickness wedge body design, which has a strong sense of science and technology..
Baidu will be deeply integrated with YY live broadcasting, aiming at trillion live broadcasting e-commerce market
In the Baidu earnings conference call, Baidu CEO Robin Li said it was ready to integrate with the video social media YY Live in depth. “We think there is still great opportunity for live broadcasting in Baidu’s ecosystem.” On November 17, 2020, baidu announced that it signed a final binding agreement with huanju times to wholly acquire the domestic live broadcasting business of huanju group, namely YY live broadcasting, with a total transaction amount of about US $3.6 billion. The transaction is expected to be completed in the first half of 2021.
Baidu has designed a special drainage activity for YY live broadcast. When users enter YY live broadcast to participate in the specified activities, they can share the bonus. When they go to YY live broadcast app, they can also increase the chance to draw cards for three times. Some people in the industry told reporters that Baidu’s in-depth integration of YY may have little impact on the industry structure, but it is obvious that Baidu is full of interest in the new opportunity of live broadcast industry, that is, e-commerce. If it does well, Baidu can go further in terms of income diversification.
The founder’s response: false accusation
Wolfpack research, a shorting agency, issued a report accusing Yihang of false trading contracts and production facilities. Subsequently, Yihang’s share price plunged by more than 60%. Yihang intelligence issued a response announcement. Hu Huazhi, the company’s founder, called the report a false accusation. The share price rose about 68% on the same day. In the short report, Wolfpack research questioned whether there were related party transactions and signed false sales contracts between Yihang intelligent and its main customer Shanghai Lixiang, and alleged that Yihang intelligent’s headquarters and manufacturing facilities were “virtually empty”, misled investors in the approval of China’s and foreign aviation regulatory agencies, and that Yihang’s equity in Guangzhou was frozen.
Tesla USA price adjustment: Model 3 and Y basic version price reduction, performance version price increase
The prices of model 3 and model y in the US have been adjusted again. On February 18, Tesla’s US official website showed that the starting price of model 3 standard range upgrade was adjusted to US $3699, which was US $3799 before, with a price reduction of US $1000, setting a new low for the model. In addition, the starting price of Tesla Model y performance high-performance version has also been increased by $1000, which is currently $6099, compared with $5999. According to US media electek, the price adjustment is the first time since Tesla updated model 3 last October.
Dingdong, a fresh food distribution platform, is considering IPO in the United States as early as this year
According to people familiar with the matter, China’s fresh food distribution platform dingdong Maicai is considering an initial public offering in the United States as early as this year to raise funds to expand in the highly competitive fresh food take away market. The fresh distribution company, backed by Sequoia Capital China, is in talks with consultants, people familiar with the matter said.
The talks are still at an early stage and details, including the size and timetable of the IPO, are still likely to change, people familiar with the matter said. Dingdong is competing in China’s crowded fresh food distribution sector, with competitors including Tencent backed Daiichi Youxian and platforms operated by Alibaba group and Jingdong.
Ctrip released Spring Festival Tourism big data: local ticket growth exceeds 300%, hotel holiday trend is obvious
Ctrip released the latest tourism consumption data of the Spring Festival. Affected by the new factors of “local Chinese New Year”, all types of tourism industry in this year’s Spring Festival reflect the distinctive characteristics of local tourism. In the Spring Festival of 2021, under the call of local Chinese new year, the radius of tourists’ travel is reduced, but the willingness to travel is still strong, and the trend of localization and surrounding tourism is obviously increasing. The local scenic spots present a prosperous scene. According to the data of Ctrip tickets, the order volume of local tickets is more than 300% higher than that of the Spring Festival in 2019. According to the latest data of Ctrip, the order volume of local hotels in China during the Spring Festival holiday increased slightly compared with the same period in 2019.
Murdoch’s News Corporation and Google reach a three-year content supply agreement
Murdoch’s News Corp. said on Wednesday it had reached a three-year agreement with alpha’s Google to license the content of its publications and produce new audio and video products for the Google platform. Don Harrison, President of Google global partnerships, said the content of News Corp’s publications would be available on multiple platforms, including a new product called Google News showcase. It is reported that News Corp. will also produce new podcasts through Google’s voice assistant technology and new videos for the technology company’s video streaming service YouTube.
It is said that apple is entrusting LG display to develop the display panel of the foldable iPhone

People concerned said that Apple has commissioned LG display to develop a display panel that can be used to fold the iPhone, but it is not clear whether it will continue mass production by LG display once the panel is developed. It has been reported that Apple plans to launch a foldable iPhone with a 7-inch OLED display and apple pencil support as soon as 2023. So far, Apple has used both LG’s and Samsung’s OLED displays on the iPhone, and the long rumored foldable iPhone’s display is likely to be provided by the two suppliers.