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The Central Economic Work Conference was held in Peking, and **** delivered an important speech.
The Central Economic Work Conference was held in Peking, where **** delivered an important speech, Li Qiang gave a summary speech, and ****, ****, Cai Qi, ****, and Li Xi attended the meeting.
"The big banks" BOCOM INTL lowered the Target Price for Baidu (BIDU.US) to 102 USD, with the advertising Business under short-term pressure.
BOCOM INTL published a research report indicating that Baidu (BIDU.US)'s short-term AI search transformation will continue to negatively impact traditional Business monetization until the first half of next year, putting pressure on the company's overall revenue and profit growth. The report states that considering the changes in Baidu's revenue structure and ongoing investment in large model-related R&D, Baidu's advertising Business is expected to face short-term pressure, with the group's core advertising revenue projected to decrease by about 2% year-on-year, and the adjusted operating profit margin of its core Business slightly dropping to about 22%. BOCOM INTL noted that considering Baidu's potential growth factors in large models, Robotaxi, etc., it has lowered the Target Price to $102.
Express News | Internal notice from Jiyue: The social security and housing fund for November has been successfully paid, but the company's financial situation may not allow for normal payments in December.
According to reports, Baidu and Geely are currently in the process of transferring funds to pay the overdue social security for Jiyue employees for November.
Jinkai Financial News | According to reports, on the evening of December 12, CEI Xu Yiping held a closed-door meeting with the two major shareholders, Geely and Baidu (09888). After multiple rounds of communication, Baidu and Geely are internally processing the transfer to pay the overdue social insurance for November for Jiyue employees. The shareholders Geely and Baidu have formed an emergency team to participate remotely. It is understood that Jiyue employees have drawn up a list of demands, including the payment of five insurances and one housing fund for all employees for November and December, compensation of N+1 to be received before December 31 this year, settlement of December's salaries for employees, and issues concerning pregnant employees, handling post-employment issues, employees injured at work, and household registration.
Express News | Extreme Leap CEO Xia Yiping: There will be no跑路! Agreed to the reasonable demands of employees and has established communication with Baidu and Geely working groups.
Express News | Jiyue will start two rounds of communication with Baidu and Geely, with the final employee compensation plan confirmed on December 17.
Futu Morning News | The Central Economic Work Conference has set the tone! Next year, the fiscal deficit rate needs to be increased; Broadcom soared over 15% after hours! Q4 profit exceeded expectations.
Inflation unexpectedly accelerates! In November, the USA PPI month-on-month growth rate reached the highest increase since June; AI transformation faces challenges! Adobe's performance forecast fell short of expectations, dropping more than 13% after the earnings report.
Express News | The transformation and upgrading of Internet Plus-Related platforms has entered a critical period.
The Nasdaq fell to 0.02 million points, Adobe plummeted more than 13%, the China concept Index rose against the trend, and Bitcoin dropped below 0.1 million dollars.
In November, USA PPI inflation exceeded expectations, with the market betting on a pause in interest rate cuts in January next year. The Dow has fallen for six consecutive days, with NVIDIA experiencing the largest drop of 2.5%. Tesla, Meta, Google, and Amazon have moved away from their highs, uranium mining stocks have declined, but Apple reached a new high. Broadcom rose nearly 5% in after-hours trading, and Chinese stocks Baidu and PDD Holdings increased by over 1%. Bond yields in Europe and the USA have risen significantly, and after the European Central Bank cut interest rates, the euro fell to a one-week low, before rebounding. The dollar reached a two-week high, while the offshore yuan once rose over 200 points, breaking through 7.26 yuan. Commodities generally fell, with spot gold down over 2% and spot silver down over 4% during the session.
U.S. stock market close: The Nasdaq has fallen from historic Top Reversal, while the Dow has declined for the sixth consecutive day.
① The Nasdaq China Golden Dragon Index rose by 0.18%, with China Concept Stocks showing mixed performance; ② Google is collaborating with Samsung to develop a headset device, with the first product expected to be launched next year; ③ Apple is reportedly set to start producing a key wireless chip currently supplied by Broadcom next year; ④ Adobe fell nearly 14%, as the company's full-year performance guidance was below expectations.
Express News | Baidu and Geely have started the fund transfer process internally to pay for the social insurance of extreme 越 employees for November.
Baidu-Backed Ji Yue Auto Reportedly Downsizing Operations Amid EV Market Challenges
US stock market outlook | The three major futures indices show slight weakness, with both PPI and initial jobless claims data exceeding expectations; poor earnings guidance leads to Adobe dropping over 10% in pre-market trading.
Central Economic Work Conference: Implement more proactive and effective macro policies to expand domestic demand; not swayed by CPI, the U.S. bond market is more concerned with employment data; The Kroger rose more than 2.4% in pre-market trading and announced it would repurchase 7.5 billion dollars in stocks after the merger deal with Albertsons Companies fell through.
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.
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'.