Today's news: Ele.me star selection ceased operations; Baidu's 2022 financial report annual revenue of 123.675 billion yuan; Microsoft's acquisition of Blizzard was supported; the first case in the country! The generational platform was halted; Hyundai has started making electric cars in the US
Ele.me star selection ceased operations
On February 22, Ele.me’s high-end food delivery app, Ele.me Xingxuan App, ceased operations. This business was renamed from Baidu Waimai, which was acquired by Ele.me, which means that it was once the third largest food delivery platform Ele.me Xingxuan (Baidu Waimai) has become history.
The relevant staff of Ele.me confirmed the news to the media, and said that the server had already been shut down in 2021, and related services were merged into the Ele.me App. Currently, the App is no longer searchable and downloadable in major app stores.
Ele.me Xingxuan was formerly known as Baidu Waimai. In August 2017, Ele.me officially announced the acquisition of Baidu Waimai. In October 2018, Baidu Waimai officially changed its name to "Ele.me Xingxuan". Wang Jingfeng, who was the vice president of Ele.me at the time, served as the person in charge of star selection for Ele.me.
According to a report released by Trustdata, in Q1 2018, the market share of Meituan Waimai’s transaction volume was 54%, that of Ele.me was 35%, and that of Baidu Waimai (Ele.me Xingxuan) was 5%. For comparison, the same data released by Trustdata , In Q1 2020, Meituan’s food delivery transaction volume accounted for 67.3%, Ele.me accounted for 26.9%, and Ele.me Xingxuan accounted for 4%. After Baidu Waimai changed its name to Ele.me Xingxuan, its market share has declined.
Baidu's 2022 financial report annual revenue of 123.675 billion yuan
Baidu’s financial report released on February 22 shows that in 2022, Baidu will achieve revenue of 123.675 billion yuan, and its net profit (non-GAAP) attributable to Baidu will be 20.68 billion yuan, a year-on-year increase of 10%.
In the fourth quarter, Baidu achieved revenue of 33.077 billion yuan, and net profit (non-GAAP) attributable to Baidu was 5.371 billion yuan, a year-on-year increase of 32%. In fiscal year 2022, Baidu Core’s performance exceeded market expectations for four consecutive quarters.
In the financial report letter sent to all Baidu employees, Robin Li also highlighted the generative AI product Ernie Bot (ERNIE Bot), which Baidu will launch in March, and announced plans to integrate a number of mainstream businesses with Wenxin Yiyan.
Li Yanhong said: "China's AI market is about to usher in explosive demand growth, and its commercial value release will be unprecedented and exponential. As the best representative of the long-term growth of China's artificial intelligence market, Baidu is standing on the top of the wave .” Baidu announced a $5 billion share repurchase plan on the same day.
Microsoft's acquisition of Blizzard received strong support
Beijing time on February 22, Microsoft announced on Tuesday that it has reached a ten-year gaming agreement with Nvidia. If Microsoft's acquisition of Activision Blizzard is approved, the company will bring all Activision Blizzard games to Nvidia's gaming platform. Prior to this, Nvidia had opposed Microsoft's acquisition of Activision Blizzard.
Microsoft President Brad Smith revealed the deal with Nvidia after meeting with EU officials in Brussels on Tuesday. The two companies said in a joint statement that the collaboration "addresses Nvidia's concerns about the merger" and "as such, Nvidia will fully support regulatory approval of the acquisition."
Now, Nvidia is on Microsoft's side. In January of this year, some media reported that Nvidia and Google had expressed concerns to the US Federal Trade Commission (FTC) about Microsoft's acquisition of Activision Blizzard.
Effective immediately, Microsoft President Smith said at a press conference that Microsoft's Xbox games will be available on Nvidia's GeForce Now cloud gaming service. He also said that if the Activision Blizzard deal goes through, it will bring all Activision Blizzard games to GeForce Now.
Microsoft is now trying to salvage the troubled deal, which faces regulatory hurdles at home and abroad. The FTC has filed a lawsuit seeking to block the deal from closing while Europe reviews the deal. With the deal, Microsoft hopes to demonstrate that the gaming industry remains competitive even after it completes its $69 billion acquisition of Activision Blizzard.
The first case in the country! This generation leveling platform was suspended
Recently, the Shanghai Pudong Court made a first-instance judgment in the unfair competition case against a power leveling company against a technology company, ordering the company to immediately stop the unfair competition and compensate a total of 985,000 yuan for economic losses and reasonable expenses for rights protection.
Neither party appealed after the verdict, and the verdict is now in effect. This is also the first case in the country based on a minor's "anti-addiction" commercial power leveling behavior.
Hyundai has started making electric cars in the US
News on February 23, according to foreign media reports, the new US electric vehicle subsidy program that took effect in August last year limited the purchase subsidy of US$7,500 to electric vehicles produced in North America, which also led to the failure of electric vehicles produced in North America at that time. Hyundai faces challenges, and Hyundai Motor and South Korea also have concerns.
However, judging from the latest reports, Hyundai Motor, which previously exported electric vehicles produced in South Korea to the US market, has begun to produce electric vehicles at its plant in Alabama, USA.
According to foreign media reports, Hyundai Motor began assembling the Genesis GV70 SUV electric vehicle at their factory in Alabama on Wednesday local time. Genesis is an independently operated brand of Hyundai Motor, and the GV70 electric vehicle is the first electric vehicle produced by Hyundai and Genesis at the Alabama plant.
The production of the Genesis GV70 electric vehicle at the Alabama factory means that according to the new electric vehicle subsidy program in the United States last year, consumers who buy their electric vehicle will be eligible to receive a $7,500 subsidy from the United States. Subsidies, thereby reducing the purchase cost of consumers and attracting more consumers.
Hyundai Motor has begun production of the Genesis GV70 at its Alabama plant, marking another important step in their efforts to produce electric vehicles in the United States following the start of construction of an electric vehicle and battery plant in Georgia.
Hyundai Motor's electric vehicle and battery factory in Georgia has invested 5.54 billion US dollars. After completion, the annual production capacity will reach 300,000 vehicles, and it is planned to start production in the first half of 2025.
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