Pandaily Digest|Mar 17, 2023
Editor's note: Baidu‘s ChatGPT-like product ERNIE Bot was unveiled yesterday and subsequently caused huge fluctuations in its share price.
Baidu Unveils ERNIE Bot, Share Price Rises More Than 12%
On the afternoon of March 16th, while the company announced its new application, Baidu‘s Hong Kong-listed stocks fell by 10% to HK $120.1 (about 15.3 $). As of yesterday’s close, however, Baidu share price fell 6.36% to close at HK $125.1. Finally, the company’s share price rose to close at HK $138.16, up 3.8%, reported by YICAI.Link
Headlines from China
Honor, Ant Group Launch Digital Services Cooperation
Chinese smartphone maker Honor and Chinese fintech giant Ant Group have jointly announced a strategic cooperation agreement on March 16. The two sides will work together in five major areas: digital operation, payment innovation, security technology, digital finance and environmental, social, and governance strategies (also known as ESG).Link
China Responds to ByteDance Share Sale Requirements By US
China’s Foreign Ministry Spokesperson Wang Wenbin held a regular press conference on March 16. Wang was asked at the conference that, “a TikTok spokesman told Reuters that the Biden administration has asked Chinese tech company ByteDance to sell TikTok, otherwise the latter would face a ban from the US. What is China’s comment on this?”Link
Temu’s Next-Gen Manufacturing Seeks to Drive Down Prices for Consumers by Reducing Waste
Temu has been in the media spotlight since its launch in the US last September. The online marketplace, which is known for its wide selection of quality and affordable merchandise, has since expanded to Canada, Australia, and New Zealand in quick succession. Link
News You Shouldn't Miss
Qihoo 360 Founder Reveals Large Language Model Development Plan
During a livestream on March 15, Zhou Hongyi, the founder of Qihoo 360, a Chinese internet security company, disclosed the company’s artificial intelligence development plan amidst the ChatGPT hype. The Beijing-based company intends to build a generative large language model and release related products and services at the earliest opportunity.Link
BYD Plans to Establish NEVs Brand Research Institute
It has been learned from people familiar with the matter that the biggest organizational change in BYD this year will be the independent operation of the company’s automobile brands. The adjustment began with the Academy of Engineering, the core department for R&D at BYD, 36Kr reported.Link
Texas Instruments Sets High Expectations for the Chinese Market
During a media communication meeting on March 16, Jiang Han, Vice President of TI and President of TI China, stated that the company’s latest objective is to attain $45 billion in revenue by 2030, with the growth rate in China exceeding that of the global growth rate.Link
Xiaomi Applies for New AR Glasses Patent
On March 17th, Xiaomi announced its patent application for “AR glasses payment methods, devices, AR glasses, media, and program products”, as reported by IT Home.Link
BYD Unveils Champion Editions of the Han EV and Tang DM-i
On March 16, BYD unveiled the Han EV Champion Edition and the Tang DM-i Champion Edition with prices ranging from 209,800 yuan ($30,434) to 299,800 yuan ($43,488), and 209,800 yuan ($30,434) to 239,800 yuan ($34,785), respectively. Despite the upgraded configurations, the prices of these models are lower than their previous generation counterparts.Link
Chinese Research Team Develops Quantum Chip “Refrigerator”
Recently, Anhui Quantum Computing Engineering Research Center of China successfully developed the country’s first quantum chip high vacuum storage box and has put it into use. Researchers have called it a “quantum chip refrigerator”.Link
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