Domestic News

Futu Holdings officially listed on Nasdaq

According to news on March 9, Futu Holdings, the parent company of Internet brokerage Futu Securities, officially landed on Nasdaq, marking the birth of the first overseas listing of a Chinese Internet brokerage.

Futu's issue price was US$12, which was the upper limit of the issue price range of US$10-12. The opening price was US$14.76, a 23% increase from the IPO issue price of US$12. Futu’s listing was jointly underwritten by Credit Suisse, Goldman Sachs and UBS. General Atlantic Investment Group plans to invest US$70 million in Futu through a simultaneous private placement. According to the prospectus, Futu will issue 7.5 million ADS (American depositary receipts) through public placement. Compared with the "planned issuance of 10.9 million ADS" shown in the prospectus on February 26, this number has decreased by 3.4 million in the final placement of share capital.

China Unicom launches high-quality network in Guangdong, Hong Kong and Macao, latency will be as low as 1ms

According to news on March 9, with the announcement of the "Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area", the premium network in the Guangdong-Hong Kong-Macao Greater Bay Area has become the focus, and China Unicom has become an important part of the premium government and enterprise network. It is reported that Boutique Network focuses on low latency and multi-route backup, and the latency from Shenzhen to Hong Kong is only 1ms.

It is reported that the Guangdong-Hong Kong-Macao Greater Bay Area Premium Network refers to the Guangdong-Hong Kong-Macao dual-speed premium circuits from all of Guangdong to Hong Kong and Macau. After the network is completed, it can provide users with high-quality, low-latency products and services covering the Guangdong-Hong Kong-Macao Greater Bay Area. The premium network in the Guangdong-Hong Kong-Macao Greater Bay Area focuses on low latency and multi-route backup. The latency from Shenzhen to Hong Kong is only 1ms. It enters Hong Kong through the four ports of Shenzhen Bay, Lok Ma Chau, Luo Wu and Man Kam To, which can provide users with a multi-route protected elastic network, further improving the stability and reliability of data transmission. For enterprise users, the Guangdong-Hong Kong-Macao Greater Bay Area Premium Network can provide star-rated service guarantees of fast response and fast delivery, meet the personalized needs of enterprises in multiple cross-border networking scenarios, and realize business layout.

Foreign News

Qualcomm demands $31 million in compensation from Apple in patent infringement case

According to news on March 9, Qualcomm said it is asking Apple to pay $31 million in compensation for infringing its intellectual property rights.

The trial, the latest twist in a long-running legal dispute between the two companies, centers on three Qualcomm technology patents. Qualcomm claims Apple is using the patents on some versions of the iPhone without permission. Qualcomm believes that Apple should pay Qualcomm $1.40 per allegedly infringing iPhone. One of the patents would allow smartphones to quickly connect to the internet as soon as the device is turned on. Another involves graphics processing and battery life management. The third patent is for making it easier for apps on your phone to download data by directing data traffic between the application processor and the modem.

South Korea says 5G mobile network will be delayed due to lack of terminal support

According to news on March 9, according to South Korean media, operators who were originally scheduled to launch 5G mobile networks this month have postponed this action. The South Korean government will postpone the commercialization process of the world's first fifth-generation (5G) mobile network service, and the project launch date is yet to be determined. Prior to this, South Korea’s Ministry of Science and Information and Communications Technology originally planned to launch ultra-high-speed telecommunications services at the end of March.

According to industry sources, high-end 5G smartphones will be available as early as April, a few weeks later than previously expected. Industry insiders believe that many problems such as parts supply and testing caused the final launch to be later than expected. Since the terminal has not yet been launched, the launch of 5G mobile network can only be postponed.

Toyota brand launches its first new energy vehicle in China, using subsidies from Dongfeng to boost sales

According to news on March 9, FAW Toyota released the Corolla Dual Engine E+, Toyota’s first model in the domestic market that can enjoy the new energy subsidy policy. Toyota Motor, which has an annual sales target of 1.6 million in China, is beginning to demand sales from China's new energy vehicle market, which is still rising against the market.

As Toyota's first model in the Chinese domestic market that can enjoy the new energy subsidy policy, the Corolla Dual Engine E+ launched this time is an upgrade based on the Toyota Corolla Dual Engine and has been localized by FAW ToyotaIt is developed and belongs to Toyota's hybrid quasi-fourth generation model, which adopts plug-in hybrid design. The Corolla Dual Engine E+ is equipped with a Panasonic lithium-ion battery pack with a capacity of 10.5 kWh, a pure electric cruising range of 55 kilometers, and a comprehensive operating fuel consumption of 1.3 liters/100 kilometers. It can be said that the launch of Corolla Shuangqing E+ is the implementation of the future new energy strategy of FAW Toyota, Toyota's joint venture in China.

Financial Investment

Tage Zhixing, a driverless company in the mining area, completed Series A financing, led by Jinshajiang United Capital

According to news on March 9, Tage Zhixing, a self-driving company in the mining area, recently announced the completion of Series A financing. This round of financing was led by Jinshajiang United Capital, with participation from Zhonghuan Synergy. Professor Yu Guizhen, founder of the company, said that the financing will be mainly used to introduce talents and improve products to cope with the continuous landing of orders.

Information shows that Tage Zhixing (Beijing Tage Zhixing Technology Co., Ltd.) was established in 2016 and is a high-tech enterprise focusing on autonomous driving solutions for mining vehicles. It is reported that the company has successfully developed a complete set of driverless solutions from perception, decision-making, control to cloud platform.

Zhang Defen Space received tens of millions of dollars in Series A financing from Himalaya

According to news on March 9, Zhang Defen Space announced the completion of tens of millions of Series A financing, and the investor was Himalaya. Zhang Defen Space is a personal growth platform founded by the well-known best-selling author Zhang Defen in 2015. It advocates the concept of self-responsible growth. Currently, it has more than 6 million users on the entire network and more than 100,000 paying users.

In order to popularize mental health knowledge using media communication methods that keep pace with the times, Zhang Defen opened the public account "Zhang Defen Space" at the end of 2013. Relying on the IP of the best-selling author, it attracted hundreds of thousands of fans from the beginning and now has 2.82 million fans. Today, Zhang Defen Space also owns eight public account matrices, including Circle of Soul and Ayama, and has accumulated a large number of users on platforms such as Douyin and Ximalaya.