Good morning, today is Wednesday, June 10th.
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Today's News
1. CAR Inc.: Lu Zhengyao resigns as chairman
Lu Zhengyao
CAR Inc. announced today that Lu Zhengyao has resigned as Chairman of the Board and Non-Executive Director of CAR Inc., effective June 9, 2020, to devote more time to his duties at CAR Inc. and other businesses. Mr. Lu will no longer serve as a member of the Nomination Committee of the Company after his resignation. Lu Zhengyao has confirmed that he has no disagreements with the Board. CAR Inc. is currently obtaining a waiver from its lenders following Lu Zhengyao's resignation.
Big Company Information
2. NetEase: The issue price is set at HK$123 per share, with a net fundraising of approximately HK$20.9 billion
NetEase announced today that it has topped up nimo . The company issued 171 million shares at an issue price of HK$123 per share, with each lot of 100 shares, and is expected to be listed on June 11. NetEase's public offering was subscribed 360.53 times, and 15.43 million shares have been reallocated from the international offering to the public offering. Assuming that the over-allotment option is not exercised, the net proceeds from the offering are HK$20.929 billion, which is intended to be used for globalization strategies and opportunities, to promote the company's continuous pursuit of innovation, and general corporate purposes. (Zhitong Finance Network)
3. Share prices of four tech giants including Apple and Amazon hit new highs, with a total market value of nearly $5 trillion
The Nasdaq Composite Index briefly reached 10,000 points
As of the close of Tuesday, the share prices of Apple, Amazon, Microsoft and have all hit new highs. At the same time, the Nasdaq Composite Index also set a new record. Among them, the share prices of Apple, Amazon and have risen by more than 3%, and Microsoft has risen by 0.8%. The Nasdaq Composite Index, which is mainly composed of technology stocks, rose by 0.3% and briefly stood above 10,000 points for the first time. The total market value of these four companies is now close to $5 trillion, with Apple leading the way with a market value of nearly $1.5 trillion, and only Apple has a market value of less than $1 trillion. Google's parent company is the only one of the five major technology giants that has not set a new high. It is about 5% behind the new high of $1,524.87 set on February 19.
4. Apple informed employees: The first phase of the headquarters resumption plan will start on June 15
Apple has informed employees at Apple Park headquarters that the company's first phase of resumption of work will start on June 15, but emphasized that most employees will not be able to return to work for at least a few months. Apple recently stated in a memo that the first phase of the resumption of work will be "very limited" and employees will only be allowed to enter the office on certain days, depending on their work. At the same time, Apple will also require employees to wear masks at all times.
5. For the first time in 36 years, Apple will announce at WWDC that Mac will use its own chips
People familiar with the matter said that Apple is preparing to announce as early as this month at the annual Worldwide Developers Conference (WWDC) that the main processor of the Mac will use its own chip to replace Intel's CPU, while also leaving time for external developers to make adjustments before the launch of the new Mac in 2021. This will be the first time in the 36-year history of Mac computers that Apple's own processors have been used.
6. Apple will start offering a Mac trade-in program in North American retail stores
Apple plans to launch a Mac trade-in service in its retail stores in the United States and Canada next week. Apple has notified retail store employees that the program will start on June 15 in the United States and June 18 in Canada. Customers can exchange their old Macs for points to buy new computers, or recharge the value of the trade-in Mac to an Apple gift card. Apple has previously offered Mac trade-in services through its website and trade-in services for products such as iPhones and iPads in its retail stores.
7. NIO issued 60 million ADSs to fund cash investment in NIO China
NIO announced today that it has begun issuing 60 million American Depositary Shares (ADS), with each ADS representing one Class A common share. NIO also intends to provide underwriters with an over-allotment option to purchase up to an additional 9 million ADS within 30 days. NIO plans to use the net proceeds from the issuance of ADS primarily to finance cash investments in NIO's China projects and to meet other working capital needs.
8. 1,300 trademarks including "LeTV" and "LeTV TV" were auctioned for an estimated price of 190,000
JD.com auction platform shows that more than 1,000 trademarks held by LeTV.com have been put up for auction on the JD.com auction platform and will be auctioned on June 29. The auction was initiated by the Beijing No. 3 Intermediate People's Court. The starting price of the 1,354 trademarks held by LeTV.com (five of which have been cancelled) is .7 yuan. According to the relevant evaluation report provided by the court, the evaluation price of these trademarks is yuan. (Sanyan Finance)
9. Juneteenth will be made a permanent company holiday to commemorate the emancipation of slaves
Dorsey's tweet
Jack Dorsey, who also serves as CEO of Apple and Nvidia, tweeted on Tuesday that the two companies will commemorate Juneteenth in the United States with a company holiday. This is the latest effort by technology companies to support and commemorate black culture. Juneteenth is the day when many African Americans celebrate the emancipation of slaves in the United States on June 19.
10. Space X gets NASA approval to use recycled rockets to carry astronauts
It is reported that NASA approved the use of recovered rockets and space capsules to carry astronauts on June 3. It is reported that starting with the "-2" mission, it will be allowed to use the recovered "Falcon 9" launch vehicle and "Dragon Spacecraft" to carry astronauts. The plan will be launched as early as mid-2021. (Pinwan)
11. Amazon expands warehouse worker COVID-19 testing program and establishes diagnostic laboratory
Amazon is stepping up testing of workers at its fulfillment centers after multiple outbreaks of COVID-19 at the company's warehouses. People familiar with the matter said Amazon's goal is to test most warehouse workers every two weeks. Workers can perform self-nasal swab tests under the supervision of clinical professionals. In addition, Amazon plans to establish independent diagnostic laboratories in multiple fulfillment centers, starting in Sunnyvale, California, and Kentucky, so that the laboratories will analyze some samples to determine whether the workers are infected with COVID-19.
12. SoftBank is reportedly expanding layoffs at Vision Fund and plans to cut up to 80 employees
Sources revealed that after recording a record loss in the last fiscal year, SoftBank Group's Vision Fund is preparing to cut about 15% of its employees. An unnamed person said that Misra, the head of the Vision Fund, which currently has about 500 employees, plans to increase the number of layoffs to 80. Bloomberg News previously reported that as of last month, the Vision Fund planned to lay off about 10%. (Financial World)
13. EU pressures TikTok's new CEO to promise to combat fake information
Kevin Mayer, the new CEO of TikTok, told EU digital chief Thierry Breton that he intends to play an active role in the fight against false information. Breton is currently pushing tech giants to step up their efforts to combat fake news and has held video conferences with the CEOs of Facebook, Google, Apple and Facebook over the past two months to promote his campaign against fake news and other issues.
14. SoftBank's ARM China joint venture changes CEO
ARM, a chip technology company under SoftBank Group, announced that the majority of the ARM China board of directors has voted to replace the CEO, and Allen Wu will no longer serve as CEO. At the same time, ARM China appointed Ken Phua and Phil Tang as interim co-chairmen and CEOs. ARM China was established in 2018, when SoftBank sold 51% of ARM China shares to investors such as China Investment Corporation, Silk Road Fund, and Singapore Temasek Holdings.
Memorandum of the boss's words and deeds
15. TSMC: The production line uses a lot of American equipment and we hope to find a solution in the future
TSMC Chairman Liu Deyin said on June 9 that TSMC's production lines use a lot of American equipment and this will not change in the short term. As for whether it is possible to build a production line without American technology and equipment, he said he will find a solution and overcome the challenges one by one. On May 15, the United States tightened export controls. If the wafer foundry uses American equipment, it cannot supply chips to Huawei. Currently, Huawei and TSMC have a buffer period of nearly 120 days. (Cailian News)
You need to know these things
16. US FCC changes stance and allows application for rural broadband subsidies
The Federal Communications Commission (FCC) has changed its position and voted to allow satellite providers such as Starlink to apply for a total of $20 billion in federal subsidies for rural broadband in the United States. The FCC initially insisted that satellite companies were not eligible to bid for most rural broadband projects, but now includes language in its rules to allow satellite companies to participate. More than 480 Starlink satellites have been launched and are scheduled to provide broadband services in the United States and northern Canada this year.
17. Qualcomm CEO: 5G will create $900 billion in economic output for China in 10 years
At the CDF TALK held at the China Development Forum, Qualcomm CEO Steve Mollenkopf said that 5G is expected to achieve one billion global connections two years earlier than 4G LTE. By 2030, 5G will create $900 billion in direct economic output and 8 million jobs in China. Mollenkopf said that he hopes to focus more on the development of 5G and will not be affected too much by those unfavorable factors. We are always very satisfied with the cooperation between the company and Chinese partners. We hope to continue to cooperate no matter how the situation changes. (Yicai Global)
Where do rockets go after they are recovered?
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