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Express News | The Central Economic Work Conference states that a moderately loose MMF policy should be implemented, with timely reductions in reserve requirements and interest rates, to maintain ample liquidity.
Express News | The latest progress in the internal negotiations at Jiyue: the investors have agreed to resolve the social security for employees in November.
Express News | Central Economic Work Conference: There will be a more proactive fiscal policy, increasing the fiscal deficit ratio.
Express News | Central Economic Work Conference: Implement a more proactive macro policy, expand domestic demand, promote the integration of technological innovation and industrial innovation development, and stabilize the property and stock markets.
Express News | Jiyue's CEO, Xia Yiping, stated that he is only a minor Shareholder, and Baidu holds 80% of the voting rights.
The critical moment for Extreme Auto: store closures, suppliers demanding debts, currently seeking support from Baidu | Frontline
① The management team led by CEO Xia Yiping is seeking support from the major shareholder Baidu, but insiders from Jiyue Autos revealed that the senior executives at Baidu are not answering calls. ② After the stores stopped operating, a large number of employees from Jiyue Autos started "laying flat" live broadcasts and looked for jobs online. ③ Suppliers came to Jiyue Autos to demand payment, but did not have the opportunity to meet with Xia Yiping.
Baidu-backed Chinese EV Maker Jiyue to Cut Operations, Payroll to Survive Brutal Race
After 14 years, returning to "moderately loose" monetary policy invigorates Assets in China! How to layout next?
On December 9, the Political Bureau of the Central Committee of the Communist Party of China held a meeting. The meeting emphasized the importance of economic work for next year and clearly proposed to 'stabilize the real estate and stock markets', 'implement a more proactive fiscal policy and moderately accommodative monetary policy', 'strengthen extraordinary counter-cyclical adjustments', and 'effectively combine policies'.
According to reports, the capital shortfall of Geely and Baidu has reached 6 billion yuan, and both companies refuse to continue investing.
According to reports from domestic media, Jiyue CEO Xia Yiping released an internal letter stating that the company has entered the 'Startup 2.0 phase,' admitting that it is facing difficulties and proposing four cost-reduction and efficiency-enhancing reform measures. These measures include merging departments and positions with overlapping functions, transforming inefficient internal workflows, and cutting short-term projects that cannot improve financial performance. It is reported that during the recent asset inventory, Jiyue discovered a funding gap of up to 6 billion yuan (RMB). The company has made it clear that employee salaries will only be paid up to November, but from November onwards, social security cannot be paid, and there is also no prospect for December salaries. Employees have the option to complete their resignation processes by December 16.
Express News | Exclusive | Why did Jiayue collapse? Insiders: The two major shareholders Baidu and Geely are unwilling to invest more money, and the promised 3 billion financing has not been received.
Express News | Extreme CEO Xia Yiping: Currently seeking support from Baidu.
Express News | Informed sources: The main reason for the sudden collapse of Jiyue is Baidu's withdrawal of investment.
Market Chatter: Ji Yue Auto to Overhaul Business Strategies to Stay Afloat
Omdia estimates that the generative AI market will reach a scale of 72.8 billion USD by 2029.
Omdia, a research and consulting group focused on the Technology Industry, has published a report indicating that the Global generative AI market is still in its infancy. According to the latest forecast, this market will grow fivefold in five years, increasing from $14.6 billion in 2024 to $72.8 billion in 2029. The top application areas include Consumer goods, enterprise services, Retail Trade, media Entertainment, and Medical Care. The report mentions that Baidu (09888.HK) smart cloud has been supporting a broad range of developers and enterprises in multimodal generative AI, from generative AI model vendors, such as Shengshu Technology, to system integration.
Hong Kong stocks trend | Network Technology stocks rose broadly in the morning, a key meeting boosted expectations for increased domestic demand, and the Sector's performance is expected to benefit significantly from macroeconomic improvements.
Network Technology stocks rose across the board in the morning session. As of this report, Bilibili-W (09626) is up 5.6%, priced at 164.1 HKD; TRIP.COM-S (09961) is up 4.99%, priced at 589.5 HKD; Baidu Group-SW (09888) is up 4.04%, priced at 88.95 HKD; Tencent (00700) is up 2.83%, priced at 421.4 HKD; MEITUAN-W (03690) is up 1.5%, priced at 169.5 HKD.
Express News | U.S. stocks night trading: China's asset ETFs and Chinese concept stocks are rising, YINN increased by nearly 5%.
[Broker Focus] BOC International lowered Baidu's (09888) target price to HK$99, and the advertising business may be under pressure in the short term
Jinwu Financial News | According to BOC International Development Research Report, according to the 3rd quarter results previously disclosed by Baidu (09888), advertising revenue was affected by AI search transformation and prudent marketing in some industries, down 4% year on year. The bank believes that the negative impact of short-term AI search transformation on traditional search business monetization will continue until the first half of 2025, putting pressure on the company's overall revenue and profit growth. The bank expects Baidu's core advertising revenue to drop by about 2% year on year in 2025 (down about 3% in 2024), and the operating profit margin after core business adjustments is about 22%, a slight decrease from 2024. Considering changes in revenue structure and the big model
The NASDAQ broke through 0.02 million points for the first time, Tesla led a group of tech giants to a new high, and Bitcoin climbed to 0.1 million dollars
The Dow and Apple fell, the Nasdaq rose nearly 2%, Tesla and Google rose nearly 6%, with Meta, Amazon, and Netflix all reaching new highs. Nvidia rose more than 3%, and Broadcom rose nearly 7%. At one point, ultra-microcomputers fell more than 8%. The decline narrowed, and Fanduo turned up more than 11%. The US CPI for November is betting on cutting interest rates next week. Interest rate cuts may be suspended in January next year. US dollar and US bond yields will rebound in V shape, and spot gold will be the highest in five weeks. The yen dived below 152, and the offshore renminbi once fell more than 300 points to 7.29 yuan. After the Bank of Canada cut interest rates sharply, Canadian dollar and Canadian bond yields turned up, and oil prices rose by about 2%.
These Companies Stand to Gain After GM Drops Out of Robotaxi Race
GTJA: The Chinese stock market has bottomed out, conditions for a 'transformation bull market' are forming. Bullish on Hong Kong stock internet.
GTJA Chief Analyst Fang Yi stated that the bottom of the China stock market has already appeared, and the conditions for a "transformation bull market" are beginning to form. He pointed out that first, after a long period of continuous adjustment, the clearing of pessimistic expectations and micro-structure is a prerequisite for the stock market to have valuation elasticity; secondly, the active shift in attitude from decision-makers to reverse the economic situation and support the Capital Markets is an important cornerstone for adjusting long-term expectations, getting rid of the "bear market mentality," and pushing the stock market's bottom higher; third, reforms in the Capital Markets improve Shareholder returns, while resolving debt, promoting reform, and stabilizing Asset prices, are expected to constitute China's new "three arrows" for economic development, leading to a transition in the China stock market.