Haidilao announced that it is open to joining
Consistent quality and service can be guaranteed is a question.
On March 4, Haidilao announced that it would implement a franchise model. At present, Haidilao has established a franchise business department to formulate the details of the franchise model and business cooperation process, and users who are interested in joining can apply for the franchise channel of Haidilao's official **. Franchised restaurants will receive middle and back office services such as personnel training, first-chain system, management experience, food safety control, brand marketing services, and performance appraisal provided by the group, so as to ensure food safety and customer experience. According to the data, as of June 30, 2023, Haidilao operated a total of 1,382 stores in Greater China, and the diversified business model will further promote the expansion of the restaurant network.
Sohu's revenue in 2023 is 6$0.1 billion
On March 4, Sohu released its fourth quarter and annual results for 2023. According to the financial report, the total revenue in 2023 will be 60.1 billion US dollars, down 18% year-on-year; GAAP net loss was $66 million, an increase of 288% year-on-year. In terms of business, Sohu's annual brand advertising revenue was US$89 million, down 14% year-on-year; * Game revenue is 4$8 billion, down 18% year-on-year. At the same time, Sohu announced that its board of directors has approved an increase in the amount of the American Depositary ** repurchase program on March 2, from a total amount of up to $80 million to a total amount of up to 1$5 billion. The ** buyback program will start on November 11, 2023 for a period of 2 years, and the company plans to use existing funds to carry out this buyback. As of February 29, 2024, Sohu has repurchased 1276457 American Depositary Shares** for a total amount of approximately US$12 million.
Alibaba led the latest round of funding for large-scale model startup Minimax
On March 4, it was reported that people familiar with the matter said that the general large-scale model start-up project MINIMAX is undergoing a new ** scale financing, and the final amount has not yet been fully determined, and Ali is the core lead investor. Prior to this, Alibaba has invested in Baichuan Intelligence, Zhipu AI and Zero One Everything. Founded in December 2021, Minimax has self-developed basic models for three modalities: text, speech, and vision. In March 2023, MiniMAX launched an open API platform for enterprise users, supporting service calls to text and voice models. Previously, Minimax has completed 3 rounds of financing, with investors including Tencent, miHoYo, etc. At present, neither Minimax nor Alibaba has responded to the verification news.
The acquisition of Macy's shares** increased to $6.6 billion
On March 3, it was reported that real estate investment firm Arkhouse Management said that it and capital management company BRIGADE have decided to sell Macy's Inc) to $6.6 billion, and will acquire Macy's unowned stake at $24 per share, about 14% higher than December. In February, Macy's rejected the takeover offer on the grounds that the takeover** was too low, but Arkhouse is still working on it, nominating nine directors to Macy's board last month, including executives with retail, real estate and capital markets experience. Macy's, the largest department store chain in the United States, recently announced that it will close about 150 stores in the next three years, accounting for 30% of the total stores, due to declining revenue and security problems, and the business focus will shift to the high-end luxury goods and skin care cosmetics market.
Established retail stores are also under pressure.
iQIYI has reached a strategic cooperation with Seven Cats and Zongheng Chinese Network
On March 4th, according to iQiyi's official WeChat news, iQiyi and Seven Cats recently signed a strategic cooperation agreement, and the two sides will work together to promote the development of high-quality**IP, and Seven Cats will provide no less than 40 high-quality IPs to iQiyi every year. In this cooperation, the two parties will take the lead in promoting the animation of "Jiuyang Martial God" and the film and television development of "Climbing the Bird Branch". At the same time, iQiyi has reached a strategic cooperation with Zongheng Chinese Network under Seven Cats, focusing on the development of original IP animation. In recent years, "Sword Dynasty", "Against the Sky and Evil God", "One World", "Sword Immortal Here" and "King of Ten Thousand Domains" on the Chinese Network have all been adapted and broadcast by iQiyi. The comic adapted from Seven Cats' head IP "Climbing the Sparrow Branch" has been launched on iQiyi, and the live-action film and television drama has been filed and is being produced and developed. The anime adapted from "Walking Stars", "Urban Ancient Immortal Doctor" and "Land Key Immortal" is also produced by iQiyi.
At the end of March, JD.com's third-party goods were free shipping up to 59 yuan
On March 4, Jingdong issued an announcement saying that there are currently 9 third-party goods free shipping for special commodities and remote areas, and it is planned to achieve free shipping for the remaining nearly 10% of third-party goods up to 59 yuan by the end of March this year. Users can enjoy free shipping service when purchasing third-party goods in 13 categories such as home appliances, kitchenware, and health care products. From October 2023, JD.com will strengthen the promotion of third-party merchants to achieve free shipping services, requiring enterprises and individual merchants to provide free shipping services for goods of 59 yuan and above, in non-remote areas. In August 2023, JD.com lowered the threshold for free shipping for self-operated products, and the threshold for free shipping orders for non-JD plus paying users when purchasing JD's self-operated products was reduced from 99 yuan to 59 yuan.
Volkswagen's battery division PowerCo has been postponed
On March 4, it was reported that Volkswagen's battery division Powerco had postponed its planned IPO in 2024. Thomas Schmall, head of PowerCo, said the company would only consider the go-to-market plan once the plant was in production and the unified battery cells were put into operation. This also means that the sector has largely ruled out the possibility of an IPO before 2026. In 2022, Powerco was spun off from Volkswagen and received an investment of 20 billion euros (about 156.2 billion yuan). According to the plan, Powerco will build six large-scale battery factories with partners across Europe by 2030 and achieve a sales target of 20 billion euros (about 156.2 billion yuan) by the end of 2025, aiming to catch up with rival Tesla. Separately, Thomas Schmall has denied that it will build another battery plant in Europe.
After the conclusion of the Second Session of the 14th National People's Congress, there will be no press conference for the premier
On March 4, the Second Session of the 14th National People's Congress held a press conference. Lou Qinjian, spokesman for the conference, said in response to a question that there will be no press conference for the prime minister after the conclusion of the meeting this year. Lou Qinjian said that Comrade Li Qiang, the new premier, had made clear the work ideas for the entire term at last year's press conference; At the same time, Premier Li Qiang's work report, the National Development and Reform Commission, and the Ministry of Finance's plan report and budget report will respond to the main concerns of the society; In addition, the press center of the conference will increase the number of ministerial press conferences and "ministerial channels" and the number of attendees, and invite the main responsible comrades of relevant departments to answer questions from Chinese and foreign reporters on topics such as diplomacy, economy, and people's livelihood, authoritatively interpret relevant policies and measures, and conduct in-depth interpretation and explanation of issues of social concern. Unless there are special circumstances, the current NPC will no longer hold a press conference for the prime minister in the next few years.
Lou Qinjian, spokesman of the conference, answered questions from Chinese and foreign reporters.