Luckin Coffee CEO and COO suspended; Jack Ma earns 80 billion yuan a year, with a net worth of over 300 billion yuan, topping the rich list; Kuaishou claims 5 million yuan from Douyin | Lei Feng Morning News

Luckin Coffee announced adjustments to its board of directors and senior management, with its CEO and COO suspended from their duties

On May 12, Beijing time, Luckin Coffee announced that the company's board of directors had terminated Qian Zhiya's position as CEO and Liu Jian's position as chief operating officer (COO).

In addition, the Board has requested and received the resignation of Qian Zhiya and Liu Jian from the Board of Directors of the Company. In addition to Qian Zhiya and Liu Jian, the Company has suspended or placed on leave six other employees who participated in or were aware of the fraudulent transactions since the Company launched its internal investigation.

At the same time, the company's board of directors has appointed Guo Jinyi, the company's director and senior vice president, as acting CEO, and Wenbao Cao and Gang Wu as directors of the company. (Source: Sina Finance)

Market value exceeds JD.com! Pinduoduo opened up more than 7% on Tuesday, setting a new high

Pinduoduo's stock price rose more than 7% at the opening on Tuesday. As of press time, its share price was $58.77, a record high, with a market value of $70.38 billion, surpassing JD.com, which currently has a market value of $69.2 billion.

Pinduoduo launched the first "Duoduo Parent-Child Festival" on May 10. The event was jointly launched by Pinduoduo's two major business divisions: "Limited Time Flash Sales" and "10 Billion Subsidies".

Pinduoduo said that this "Duoduo Parent-Child Festival" event is expected to reach 150 million consumers and bring more than 30 million new customers to brands. (Source: IT Home)

Kuaishou sues Douyin for copyright infringement, seeking RMB 5 million in damages

On May 12, Beijing Kuaishou Technology Co., Ltd., the development and operation entity of Kuaishou, sued Beijing Weibo Vision Technology Co., Ltd. to the court, demanding that it stop the infringement and claim 5 million yuan in compensation because it believed that the top search result when searching for the word "Kuaishou" in a third-party APP was "TikTok Short Video".

Recently, the Haidian Court accepted the case and is currently conducting further review. (Source: Haidian Court website)

The total wealth of China's 500 richest people exceeds 10 trillion! The richest man Jack Ma surpasses 300 billion, and Zhang Yong enters the top ten for the first time

On May 12, the 2020 New Fortune 500 Rich List was released. Jack Ma surpassed last year's top spot, Ma Huateng, with a net worth of 302.14 billion yuan, and successfully topped the list. Ma Huateng and Xu Jiayin ranked in the top three with net worths of 276.73 billion yuan and 198.1 billion yuan respectively.

The wealth of 60% of the rich on the list increased by more than 10%, and that of 40% increased by more than 50%. Among them, there are 315 billionaires, and the wealth of the richest man, Jack Ma, has exceeded 300 billion yuan. If the ten richest people in China this year formed a city, the economic scale would rank 7th in the country, ahead of Chengdu and Wuhan.

The wealth of the 500 richest people on the list has exceeded 10 trillion yuan, reaching 10.7 trillion yuan, a record high, equivalent to 1/10 of China's GDP in 2019. In 2019, Shanghai's GDP was 3.8 trillion yuan, Beijing's and Shenzhen's were 3.5 trillion yuan and 2.7 trillion yuan respectively, and the total of the three cities was exactly 10 trillion yuan.

The latest report released by the central bank shows that the average net assets of urban households in China is 2.89 million yuan.

Before Luckin Coffee was shorted, its founder and CEO Qian Zhiya had a net worth of 10 billion within 3 years of starting his business, which was equivalent to the wealth of 3,000 Chinese families. Wang Wei of SF Express had a wealth equivalent to 30,000 times that of an average family. Jack Ma’s wealth was equivalent to that of 100,000 average families. (Source: New Fortune)

Wuhan conducts nucleic acid screening for all staff, and the demand for nucleic acid reagents is strong and the production capacity is expanding

On May 12, relevant departments in Wuhan confirmed that the "Urgent Notice on Conducting Citywide Coronavirus Nucleic Acid Screening" issued by Wuhan City proposed to carry out a "ten-day campaign" of nucleic acid screening for all residents in Wuhan.

Industry insiders believe that Wuhan's full nucleic acid screening is in line with the direction of normalizing new coronavirus testing and expanding the scope of nucleic acid testing and serum antibody testing in key areas. Expanding the scope of testing and concentrating testing actions are beneficial to in vitro diagnostic companies, testing reagent manufacturers, and the medical testing industry with testing capabilities. (China Securities Journal)

The United States launches a semiconductor "unlimited traceability" mechanism for domestic semiconductor foundries

The reporter learned from the supply chain on the evening of May 12 that American semiconductor equipment manufacturers such as LAM (Lam Research) and AMAT (Applied Materials) sent a letter requiring Chinese companies engaged in military-civilian integration or supplying integrated circuits for military products (such as SMIC and Huahong Semiconductor) not to use semiconductor equipment from American listed manufacturers to produce military integrated circuits, and the "unlimited traceability" mechanism will take effect. (Source: Science and Technology Innovation Board Daily)

Guangdong Postal Administration: If express parcels are put into lockers without consent, consumers can seek compensation for the fees

Recently, the issue of "Fengchao express lockers charging overtime" has sparked heated discussions. The Guangdong Provincial Postal Administration responded to reporters from Nan Fang Daily and Nan Fang+ that delivery companies should strictly fulfill their delivery service agreements in accordance with relevant regulations and ensure the quality of delivery services.

The use of Fengchao smart express lockers must fully respect consumers' right to make independent choices. If the delivery company puts the parcel into the locker without the recipient's consent, consumers can seek compensation through legal channels for the fees incurred.

The use of Fengchao smart express lockers must fully respect the right of consumers to make their own choices. If the delivery company puts the express into the express locker without the recipient's consent, the consumer can seek compensation through legal channels for the expenses incurred. (Source: Nanfang+)

Alibaba Vice President Gu Mai: In the next two years, Tmall will incubate 30-50 flagship stores with sales exceeding 10 billion yuan

On May 11, at Tmall's annual conference Top Talk 2020, Alibaba Group Vice President Gu Mai "brought out" the "secrets" of brand operation in the post-epidemic era to achieve better growth by flexibly using strategies such as category upgrades, new product innovation, store live broadcasts, full-link operations and new retail. Gu Mai said that in the next two years, Tmall will batch incubate 30-50 flagship stores with transaction volumes exceeding 10 billion.

Not long ago, Taobao announced that it welcomes all foreign trade companies to switch from exporting to domestic sales on Taobao and Tmall, and that this year at least 10,000 foreign trade stores will have an annual income of over 1 million yuan, and 1,000 branded foreign trade companies will have an annual income of over 10 million yuan. (Source: Titanium Media)

New version of Huawei P30 Pro is on sale: supports Google services, priced at 5,700 yuan

According to foreign media reports, the new version of Huawei P30 Pro is on sale, priced at 749 euros (8GB+256GB, about RMB 5,700).

It supports Google Mobile Services (GMS, full name Google Mobile Service). Overseas platforms rely on GMS. When using the Google Store to log in to the overseas website, you must use the Google three-piece set (Google Service Framework, Google Play Store and Google Play Services).

In addition to supporting Google Mobile Services, the new version of P30 Pro has added a new color scheme on the P40 series - Frost Silver, while other specifications remain unchanged.

In terms of core configuration, the P30 Pro uses a 6.47-inch OLED display, is equipped with a Kirin 980 processor, is equipped with 8GB of memory + 256GB of storage, a 32-megapixel front camera, a 40-megapixel super-sensitive main camera + 20-megapixel ultra-wide-angle + 8-megapixel periscope telephoto + TOF quad-camera on the back, and has a battery capacity of 4200mAh.

Currently, this flagship will be available in Germany on May 31. The first batch of users who place an order can receive FreeBuds 3 true wireless headphones and Huawei CM-510 mini Bluetooth speakers, and can also purchase Huawei Watch GT2 for 99 euros (about RMB 760). (Source: Fast Technology)

Ideal Auto responds to brake failure: rare case, no risk to mass production

On May 12, Ideal Auto responded to the incident in which a car owner encountered "brake failure" on the highway, saying that it was a rare case for the supplier and there was no mass risk.

On May 7, an Ideal ONE owner revealed that the Ideal ONE he purchased suddenly failed to brake on the highway, and it was only through the deceleration effect caused by power recovery that it was able to safely slide to the service area.

In response, Ideal Auto said that after its technical inspection, the car's fault was that the electronic brake assist disappeared, but the mechanical brake and kinetic energy recovery deceleration were normal. (Source: Sina Technology)

IDC: China's total blockchain market spending will reach $470 million in 2020

On May 12, according to the first issue of the "IDC Worldwide Blockchain Spending Guide" (2020V1) updated in April 2020, IDC predicts that the overall spending in the global blockchain market in 2020 will decrease due to the impact of the new crown pneumonia epidemic and will reach US$4.28 billion.

China is still the second largest single country in the world in terms of blockchain market size. And in line with the global trend, the scale of investment in China's blockchain market will also decrease due to the impact of the epidemic.

IDC predicts that China's total spending on blockchain solutions will reach US$470 million in 2020 (down about 12% from pre-pandemic forecasts); during the forecast period of 2019-2023, the compound annual growth rate is expected to reach 60% (down about 10%). (Source: IDC)

iQIYI established a new catering management company with a registered capital of RMB 1 million

Tianyancha data shows that on May 9, Beijing Greefu Catering Management Co., Ltd. was established with a registered capital of 1 million yuan and its legal representative is iQiyi Vice President Xue Zhong.

Tianyancha data shows that the company's business scope includes catering management, food sales, catering management, etc. The company has two shareholders, Shanghai Zhongyuan Network Co., Ltd. and Beijing iQiyi Technology Co., Ltd., of which Shanghai Zhongyuan Network Co., Ltd. is wholly owned by Gong Yu, the founder and CEO of iQiyi.

IDC: China's GPU server market will reach $6.4 billion in 2024

The latest "Artificial Intelligence Infrastructure Market (Second Half of 2019) Tracking" report released by IDC shows that the artificial intelligence infrastructure market size reached US$2.09 billion in 2019, a year-on-year increase of 58.7%.

Among them, GPU servers account for 96.1% of the market share. IDC predicts that by 2024, the scale of China's GPU server market will reach US$6.4 billion.

From the perspective of manufacturers, Inspur, Huawei and Sugon still rank in the top three, accounting for more than 74% of the market share. IDC predicts that by 2021, servers used for inference will exceed servers used for training, reaching a market share of 51.3%. (Source: Sina Technology)

Uber plans to acquire GrubHub, the largest food delivery platform in the United States, and the deal may be completed by the end of the month

Beijing time, May 12, Bloomberg quoted people familiar with the matter as saying that Uber has made an acquisition offer to GrubHub, a US food delivery service platform.

GrubHub, headquartered in Chicago, is the largest food delivery platform in the United States and is known as the "American version of Meituan." People familiar with the matter said that Uber is currently in acquisition negotiations with GrubHub and the deal is expected to be reached as early as this month. Currently, GrubHub is valued at approximately US$4.5 billion, while Uber's market value is approximately US$55 billion. In fact, there were reports at the beginning of this year that Grubhub was considering selling the company. (Sina Technology)

Apple Car's new patent is exposed, completely subverting the current car design

On the evening of May 12, according to foreign media reports, Apple today obtained a new patent for automobile safety from the US Patent and Trademark Office (PTO). From this, it can be seen that the rumored Apple Car may subvert the current automobile design to a large extent.

As part of this massive redesign, Apple also took into account scenarios where people (passengers) sit in cars in non-traditional ways. Currently, car seats are usually one-way (forward-facing), but Apple's self-driving vehicle system (Apple Car) may allow all seats to face the middle of the vehicle, like a room where everyone can talk to each other. (IT Home)

Trump: California should let Tesla CEO Musk reopen factory

On the evening of May 12, Beijing time, Trump said that California should now allow Tesla CEO Musk to reopen the factory, which can be achieved quickly and safely. (Source: Sina Technology)

Apple is still hit hard by the epidemic, with iPhone sales falling 77% in April

According to Bloomberg, the latest research report released by market analysis firm KeyBanc Capital Markets shows that due to the outbreak, Apple's iPhone sales in April this year fell 77% year-on-year and 56% month-on-month.

The agency's analyst John Wenn believes that this trend is unfavorable for Apple suppliers such as Qualcomm.

However, KeyBanc's report also shows that Apple's online sales have increased since March this year. However, this is still not enough to offset the impact of offline store closures. (Source: Interface News)

Twitter allows some employees to work from home indefinitely

On Tuesday local time, Twitter announced that it would allow some employees to work from home indefinitely. Twitter said that the company will not reopen most of its offices before September and employees can choose whether to go back to work.

Twitter said on Tuesday that it will basically not allow employees to travel for business before September, with only very few exceptions. In addition, no face-to-face company events will be held for the rest of the year. (Source: Sina Technology)

Intel AI turns its attention to brain tumor research with 99% accuracy

According to foreign media reports, artificial intelligence has been used in breast cancer, lung cancer and skin cancer detection, and its accuracy has even exceeded that of doctors. Now, researchers from Intel and the University of Pennsylvania have turned their attention to brain tumor research.

With Intel's artificial intelligence software and hardware technology, the University of Pennsylvania School of Medicine will work with 29 international medical and research institutions from countries and regions such as the United States, Canada, the United Kingdom, Germany, the Netherlands, Switzerland and India to build the largest brain tumor dataset artificial intelligence model to date without sharing sensitive patient data or violating medical privacy rules.

It is reported that the project is based on a technology called "federated learning". An algorithm is trained using disease data sets, and model updates are only shared with the organization responsible for aggregating the model. Patient data will be stored in separate institutions, allowing hospitals to work together without sharing patient data.

It is not clear how long it will take to develop this model, but the project has received a three-year, $1.2 million grant from the National Institutes of Health. (Source: Global Times)

Foreign media: The White House is discussing with Intel and TSMC about building factories in the United States to make chips

According to foreign media reports, the White House is negotiating with Intel and TSMC, trying to persuade them to build factories in the United States to produce more chips.

Greg Slate, Intel's vice president of policy and technology, said Intel is "taking this very seriously" and that its plans include building factories to make advanced chips for the U.S. government and other customers.

Meanwhile, TSMC has been discussing the possibility of building a chip factory in the United States with officials from the U.S. Departments of Commerce and Defense, as well as its major customer Apple.

TSMC said in a statement: "We are actively evaluating all suitable locations, including the United States, but there are no specific plans at this time." (Source: TechWeb)

Amazon launches cognitive search service Kendra: available to all AWS customers

According to foreign media reports, Amazon released the cognitive search service Kendra on Monday, which is available to all AWS (Amazon Cloud Service) customers. Kendra is an enterprise search service based on artificial intelligence (AI) and machine learning, which is highly accurate and easy to use.

Amazon said that currently, Kendra can understand industry terms in IT, medical, insurance, energy, industry, financial services, law, media and entertainment, travel and hotel, human resources, news, telecommunications, mining, food and beverage, and automobile. In the second half of this year, it will be able to understand industry terms in other fields. (Source: TechWeb)

SK Hynix and KAIST collaborate to use AI to optimize semiconductor manufacturing

According to foreign media reports, on May 12, SK Hynix and the Korea Advanced Institute of Science and Technology (KAIST) signed a memorandum of strategic cooperation on artificial intelligence. The two parties will work together to use AI technology to optimize semiconductor manufacturing.

According to the memorandum, SK Hynix will provide KAIST with data generated during the semiconductor manufacturing process in real time. KAIST will analyze this using artificial intelligence models to help predict and improve semiconductor quality.

SK Hynix established a cloud system in March this year so that KAIST can access the cloud system in real time and analyze data. (Source: TechWeb)

iOS 14 will be available next month! Apple will use iPhone to record WWDC 2020 online release

According to Bloomberg reporter Mark Gurman, Apple plans to rely on the iPhone to complete the live streaming task at this year's WWDC. Apple announced last week that WWDC 2020 will kick off on June 22. Due to COVID-19, this conference will be held online for the first time.

In a statement to TechCrunch, Apple showed off the iPhone’s industry-leading camera capabilities: “We know people rely on their iPhone when watching their favorite shows at home, and we’re excited to be a part of this journey with the American Idol team.”

At this year's WWDC 20, Apple will showcase the new iOS 14, as well as the new iPadOS, macOS, tvOS, and watchOS. (Source: IT Home)

Bill Gates: I regret not doing more to deal with the epidemic

According to foreign media reports, Bill Gates reminded President-elect Donald Trump in 2016 that the United States faced the risk of a pandemic.

Today, the Trump administration has been widely criticized for its poor response to the COVID-19 pandemic.

In fact, Gates' reminder was expected. Over the years, Gates has been reminding the world to pay attention to the threat posed by viruses to human society. In a Ted Talk in 2015, he said that infectious disease pandemics pose a greater threat to the world than nuclear war.

Although Gates has been calling on lawmakers to prioritize preventing pandemics like the new coronavirus, he still said in the interview that he regretted not doing more before.

“I feel terrible,” he said. “We could have taken steps to minimize the damage. I regret not having done more to draw attention to the danger.”

The Bill and Melinda Gates Foundation has donated $250 million to respond to the new coronavirus pandemic. The funds will be used to develop diagnostics, treatments and vaccines. (Source: Sina Technology)