April 1, 2021 driving China last night and this morning
Corning announced to raise the export price of glass substrate
According to Zhongguancun Online report, Corning recently announced on its official website that it will moderately increase the price of display glass substrate in the second quarter of 2021. As one of the main raw materials of TV panel, this change may lead to another rise in panel price, which is not good news for today’s TV manufacturers and consumers.
In its announcement, Corning pointed out that the price adjustment was mainly affected by the shortage of glass substrate supply, as well as the increase in logistics, energy, raw material prices and other operating expenses. At the same time, since 2020, affected by the epidemic and other factors, the cost of precious metals needed to maintain the manufacturing of glass substrate has increased significantly in the past. Although Corning tried to offset these increased costs by increasing productivity, the final result was still unacceptable.
Corning expects that in the next few quarters, the supply of glass substrates will still be in short supply, but Corning will continue to cooperate with customers in order to maximize the production capacity of glass substrates. For this phenomenon, previous practitioners in this field have also said that the price of Corning Glass substrate has been difficult to maintain, but I have some experience that the price increase is also a key factor affecting the TV field.
SMIC releases 2020 financial report, net profit increases sharply
Earlier today, SMIC released its 2020 results, sohu.com reported. Last year, SMIC’s revenue was 27.471 billion yuan, an increase of 24.8% over the same period last year, and its net profit attributable to its parent company was 4.332 billion yuan, an increase of 141.5% over the same period last year. SMIC’s revenue target this year is medium to high single digit growth. Among them, the revenue target for the first half of the year is about 13.9 billion yuan; the annual gross profit rate target is 10% to 20% in Central China; the capital expenditure is 28.09 billion yuan, most of which is used for the expansion of mature technology, and a small part is used for advanced technology, Beijing new joint venture project civil engineering and others.
At the same time, the net profit of the company in 2020 and the net profit after deducting the non recurring profit and loss are positive, which is in line with the situation that “the unprofitable company achieves profit for the first time at the time of listing”. The abbreviation of the company’s A-share stock will be cancelled on April 2, and the special mark will be changed from “SMIC international-u” to “SMIC international”.
Meng Wanzhou’s lawyer said it was illegal to apply American law to Chinese citizens
According to CCTV news, Vancouver’s courts continued to debate the fourth branch of the “procedural abuse” in Meng Wanzhou’s extradition case, that is, the United States’ request for the extradition of Meng Wanzhou in violation of international law, on the 29th local time in Canada. Defence counsel pointed out that the judge could terminate the extradition proceedings in accordance with customary international law and Canadian jurisprudence.
Defense counsel pointed out that there is a clear principle of territoriality in public international law, and each country implements the law within its territory. The claim of the United States in this case is to try to exercise jurisdiction in Hong Kong, China. It is illegal to apply the laws of the United States to Chinese citizens.
If Canada agrees to extradite Meng Wanzhou to the United States, it will lead to Canada’s violation of its obligations under international law and the destruction of Canada’s judicial justice.
Geely to restart Volvo IPO plan
Zhejiang Geely Holding Group is considering restarting the IPO plan of its subsidiary Volvo cars, with a valuation of about $20 billion, sina.com reported. People familiar with the matter, who asked not to be named because the information was not made public, said Geely holdings group had discussed with potential consultants to issue Volvo shares as soon as this year. Sites under consideration include Stockholm and Amsterdam.
In February, Geely shelved the plan to merge Geely Automobile Holdings and Volvo cars, a listed entity, and decided to merge their powertrain businesses into a new company and join hands in technology development.
The discussions are at an early stage and details such as potential valuations may change, people familiar with the matter said. A representative of Geely holdings declined to comment. A Volvo spokesman said the February agreement “allows the two companies to explore their own capital market options to achieve shareholder value.”.
“Volvo will evaluate a number of options, possibly including potential IPOs and stock listing plans,” the spokesman said. “So far, no decision has been taken. If necessary, appropriate regulatory disclosure will be made in due course. “
Geely Holding Group hopes to list Volvo as early as 2018. People familiar with the matter said at the time that the $30 billion valuation made investors retreat, so the plan was shelved.
The first batch of products of Beidou, apple and Xiaomi were released for inspection
According to sohu.com, citing the China Academy of information technology, the press conference on the establishment of mobile Beidou testing and certification system and the first batch of certification results was successfully held in Beijing yesterday. At the meeting, the first batch of mobile phone Beidou test certified models were released and certification certificates were issued. The certified enterprises were oppo, vivo, Xiaomi and apple, with a total of seven product models.