Media Focus on Multinational Corporations[2021.08.16]

日期:

2021-08-16

浏览次数:

6865

【Apple 】

Apple sees rise in departures from Health, iCloud teams

Apple's teams working on iCloud, AI, and Health, are apparently seeing more employees departing the company, according to a report, with a lack of optimism and Apple's back-to-office strategy alluded to be reasons behind the staff shrinkage.

Three Apple teams have seen their headcounts go down recently, with there being an increase in the number of people leaving Apple in favor of fresh pastures. The exits include a few high-profile names from the Health and iCloud teams, which could potentially hurt development in each group.

According to the Bloomberg 'Power On' newsletter, Mark Gurman reports Health AI research chief Emily Fox is leaving Apple for a position at a university later in 2021. Meanwhile, former Netflix platform engineer Ruslan Meshenberg has apparently left his role leading Apple's team working on cloud infrastructure in favor of Google.


【CREG】

Hefty tunneling machine ready for Italian railway project

China Railway Engineering Equipment Group announced that a recor-setting tunnel-boring machine is ready to be delivered to Italy for use in the Napoli-Bari High-Speed Railway. It is the largest machine of its kind to be exported to Europe from China.


【Ikea】

Ikea China flagship store reopens

The Ikea Shanghai Xuhui store - the Swedish brand's first flagship store in the Chinese mainland - was reopened on Thursday after four months of renovation.

The revamped store, which has been around since 1998, will be the first in the world to feature the brand's 'home experience of tomorrow' concept, according to the company's fiscal year 2022 news briefing held in Shanghai on Tuesday.


【Syngenta】

Syngenta to grow presence in China with new agricultural products

Syngenta Group, the Swiss seeds, crop protection and nutrition product manufacturer, plans to introduce more high-quality agricultural products into China to further enrich its market presence during the country's 14th Five-Year Plan period (2021-25), said the company's senior executives.


【Blackstone】

Blackstone stake bid adds twist to SOHO saga

Hong Kong-listed property developer SOHO China's seeming attempts to offload a big part of its stake have a distinct character that can remind people of the facades of its futuristic office buildings in Beijing and Shanghai: straight lines are less likely.

Stated differently, SOHO's reported moves do not seem to progress smoothly, industry insiders said.

The Beijing-headquartered developer said in a recent announcement that the State Administration for Market Regulation has scrutinized the proposed plan of US investment firm Blackstone to acquire a majority stake in SOHO.

A prominent real estate investor with $196 billion investor capital under management, Blackstone announced on June 16 it is planning to pick up a controlling stake in SOHO China for $3 billion.

SOHO's existing controlling shareholders-co-founders Pan Shiyi and Zhang Xin-will retain a combined 9 percent stake upon the completion of the proposed transaction, with SOHO China remaining listed on the Hong Kong stock exchange, according to the announcement.

Neither side has made any further comments so far on the central regulator's latest scrutiny.


【Lenovo】

Lenovo posts strong quarterly financial results

Chinese tech titan Lenovo Group Ltd on Wednesday announced record fiscal first quarter results, as the company seized opportunities from accelerated digitalization, intelligent transformation and IT upgrades in devices, infrastructure and applications around the world.

Lenovo said its pre-tax income almost doubled to $650 million in the quarter ending on June 30, up 96 percent year-on-year. Its net income margin reached 2.8 percent, the highest in many years, and its revenue continued growth to $16.9 billion, up 27 percent year-on-year.


【Xiaomi】

Xiaomi seeks to outpace Samsung as largest smartphone maker in 3 years

Chinese smartphone vendor Xiaomi Corp aims to outcompete South Korea's Samsung to be the world's largest smartphone vendor by shipments in three years.

The ambition came after Xiaomi earned its new tag as the world's No 2 smartphone maker in the second quarter of 2021, according to data from Canalys, a market research provider. It is the first time that Xiaomi wrested that status.

 

【SWPD】

Shenzhen water planning company listed

The Shenzhen Water Planning and Design Institute Co was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on Wednesday, becoming the first domestic A-share listed enterprise from the water conservancy survey and design industry.

It is the 1,000th listed company on Shenzhen's GEM board.

 

【Wahaha】

Wahaha founder gets OK to manage funds

Zong Qinghou, founder of the beverage maker Hangzhou Wahaha Group, obtained a qualification certificate to manage funds in July, according to the Asset Management Association of China.

Zong, who was born in 1945, serves as the legal representative of the company's arm for venture capital investment, according to Tianyancha, a business information provider.

On July 9, Zhejiang Wahaha Venture Capital Co Ltd completed the registration for fund managers, which means the company can also manage private equity. According to regulations, fund managers need to issue products within half a year after registration, The Paper reported.


【BSH】

BSH to debut eco-friendly products at 4th CIIE

BSH Hausgerate GmbH, a home appliances manufacturer based in Munich, Germany, will unveil its eco-friendly, smart products at the fourth China International Import Expo in Shanghai this November.


【CCB】

Chinese bank, Singapore company set up 1st foreign-owned carbon asset pledge

China Construction Bank's branch in Guangdong and Singapore-based industrial company Royal Golden Eagle have entered into an agreement on the first foreign-owned carbon asset pledge, according to a statement on Monday.

Under this agreement, the two parties will conduct research and innovation in carbon finance products and derivatives, such as carbon emission rights mortgage and pledge financing, carbon trading, carbon bonds and carbon funds through a diverse range of cooperation, it said.

This agreement represents Royal Golden Eagle's second innovative commitment in carbon finance in which RGE will collaborate with financial institutions to facilitate China's efforts to achieve carbon emissions peak by 2030 and carbon neutrality by 2060.


【Baidu】

Baidu reports Q2 earnings surpassing expectations

Chinese internet search giant Baidu Inc reported better-than-expected second-quarter financial results on Thursday, with total revenue increasing 20 percent year-on-year to 31.4 billion yuan ($4.86 billion), yielding a non-GAAP (generally accepted accounting principles) net profit of 5.4 billion yuan.

Baidu's core business delivered another strong quarter, with revenue growing 27 percent year-on-year to 24.0 billion yuan, boosted by the AI cloud sector posting 71 percent growth. The company continues to execute and lead on new AI business, including AI cloud, autonomous driving and smart assistant.


【CATL】

Chinese battery giant CATL to raise $9b for expansion, research

FUZHOU -- China's largest automotive lithium-ion battery maker, Contemporary Amperex Technology Co Ltd (CATL), plans to raise through private placement no more than 58.2 billion yuan (about $8.99 billion), mostly for production expansion and research.

In a filing to the Shenzhen Stock Exchange on Friday, CATL said it will issue no more than 232,900,780 new shares, or 10 percent of the total equity before the stock issue, to no more than 35 investors.

CATL said the majority of the proceeds from the offering will be invested in five lithium-ion battery production facilities. The remaining will be invested in research and development and to supplement its working capital.

The stock issue is still subject to regulatory approvals.


【Logitech】

Logitech set to expand Chinese business ops

GENEVA-Swiss computer peripherals manufacturer Logitech will invest more in the Chinese market in the future, said Bracken Darrell, the company's CEO, who was bullish on the business outlook in China and his company there.

'China has been a great market for us since we first entered, way back in 1991, and we've grown a lot there through the years,' Darrell said. 'It's our second-largest market and we're obviously continuing to be super excited about the Chinese market. We think it will be a great growth area for us in the long term.'

Logitech established its presence in the Chinese mainland in 1991 and opened its first manufacturing facility in Suzhou, Jiangsu province, in 1994. The factory remains Logitech's main manufacturing center in China.

The factory helps the company rapidly test innovations, ramp up and down production according to demand, and offer support related to intellectual property protection.


【Lenovo】

Lenovo posts strong quarterly financial results

Chinese tech titan Lenovo Group Ltd on Wednesday announced record fiscal first quarter results, as the company seized opportunities from accelerated digitalization, intelligent transformation and IT upgrades in devices, infrastructure and applications around the world.

Lenovo said its pre-tax income almost doubled to $650 million in the quarter ending on June 30, up 96 percent year-on-year. Its net income margin reached 2.8 percent, the highest in many years, and its revenue continued growth to $16.9 billion, up 27 percent year-on-year.


【Huawei】

Huawei steps up push to popularize HarmonyOS

Huawei Technologies Co is stepping up push to promote its self-developed operating system HarmonyOS, driven by mounting enthusiasm for the OS from partners and consumers.

As of Friday, HarmonyOS smartphone users have exceeded 50 million, Huawei said. It launched the latest version of its OS, Harmony-OS 2, in June for the internet of things devices, including smartphones, tablets and smartwatches.

That marked a crucial step for Huawei, which had prepared for its transition from Google's Android operating system to HarmonyOS for a long time after the US government restricted its access to Google software and services in 2019.


【Tesla】

Tesla to launch China R&D center in 2021

Tesla Inc's China R&D center is expected to become operational later this year in Shanghai, as the United States carmaker continues to deepen its localization strategy in the world's largest new energy vehicle market.

Tesla announced the schedule in a recruitment post released via its WeChat account on Monday.

It is recruiting engineers for such functions as design, styling, software and vehicle engineering as well as test and validation.

The Shanghai facility will be Tesla's first research and development center outside of the US.


【SGMW】

SAIC-GM-Wuling posts strong auto export growth in Jan-July period

NANNING -- SAIC-GM-Wuling (SGMW), a major Chinese automobile manufacturer, reported strong vehicle export growth in the first seven months of this year, the company said.

SGMW, located in Liuzhou, South China's Guangxi Zhuang autonomous region, exported 87,401 vehicles during the period, up by 98 percent year-on-year, exceeding its total export volume of last year.

Its total sales revenue in overseas markets in the period reached about 4.35 billion yuan (nearly $672 million), up by 56 percent compared with the same period last year.

A total of 24,214 units of the SGMW's compact crossover SUV model Baojun 530 were exported between January and July, surging by 170 percent year-on-year. The exports of the Baojun 510, another SUV company brand, reached 8,364 units.

Following the countries of Chile, Peru, El Salvador, and Costa Rica, at the end of June, 1,000 units of its brand Hongguang V were exported to Mexico for the first time, the company said.

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