Pandaily Digest|May 15, 2023
Editor's note: On May 14th, Xiaomi denied the reports that its Wuhan headquarters had laid off 90% of employees over the age of 35.
Xiaomi Denies Laying off 90% of Employees over the Age of 35 at Wuhan Headquarters
On May 14th, reports surfaced that Xiaomi’s Wuhan headquarters had laid off 90% of employees over the age of 35. However, Wang Hua, General Manager of Xiaomi‘s Public Relations Department denied these reports. Link
Headlines from China
Founder of 360: Those Who Cannot Use GPT Will Be Eliminated
Recently, Zhou Hongyi, the founder of Qihoo 360, stated that ChatGPT-4.0 is already the smartest “person” on Earth. He said that people who do not know how to use GPT will be eliminated in the future. On the same day, Zhou Hongyi also announced that 360 had launched an AI store. Link
China May Become the World’s Largest Exporter of Automobiles
China exported 1.07 million vehicles from January to March this year, a year-on-year increase of 58.1%. China’s automobile exports have reached a new milestone, surpassing Japan in terms of quarterly export volume and ranking first in the world. Link
BYD Partners with A Chinese Diesel Engine Manufacturer
BYD, the world's first automaker to cease production and sales of pure gasoline vehicles, has recently entered into a strategic partnership with Weichai Power, China's largest diesel engine manufacturer. Link
News You Shouldn't Miss
Salary Gap Exists among Executives in China’s Automakers
Executive compensation is a topic of great interest whenever the automobile group releases its annual report. In China, there exists a significant disparity between the salaries of executives in electric vehicle manufacturers and those in fuel-powered vehicle manufacturers. Link
Huawei WATCH 4 Series Supports High Blood Sugar Risk Assessment
On May 15th, according to Richard Yu, the CEO of the Consumer BG at Huawei, "Huawei WATCH 4 series will be the first to support high blood sugar risk assessment research." The Huawei WATCH 4 series will debut at Huawei's new product launch event on May 18th. Link
Chinese Astronauts Begin to Transfer the Cargo of Tianzhou-6
On May 12th, the crew of Shenzhou-15 spacecraft opened the hatch of Tianzhou-6 cargo spacecraft and carried out related work such as cargo transfer according to plan. Link
Disagreement Arises Among Shanghai Pudong Development Bank Employees Regarding Salaries and Benefits
Several photos surfaced online on May 11th showing employees of Shanghai Pudong Development Bank (SPDB) protesting in Shanghai. The protest was due to their dissatisfaction with salary cuts, which occurred after an employee from the bank's wealth-management subsidiary complained about a nearly 70% reduction in pay. Link
Semiconductor Foundry Giant SMIC’s Q1 Net Profit Decreases by 44% YoY
SMIC, a prominent Chinese semiconductor foundry company, released its financial report for the first quarter. The company reported an operating revenue of 10.209 billion yuan ($1.47 billion), which is a decrease of 13.9% compared to the previous year's figures. Link
Profit-driven iQIYI International App to Continue to Promote Chinese-language Content
On May 10th, iQIYI, a Chinese online video platform based in Beijing, held a forum at the 2023 iQIYI World Conference to showcase the development of its overseas business and share with its partners opportunities for collaboration. Link
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