Breakfast | Tencent, NetEase, and SenseTime showcase multiple new AI products for the first time at the World Artificial Intelligence Conference, shorting Tesla results in a huge loss

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Overnight Morning Market

In the Japanese stock market, SoftBank's stock price closed at 11,190.00 yen on Thursday, hitting a record high, surpassing the intraday high of 11,000 yen set on February 15, 2000. Analysts attribute this to the AI boom and Arm investments.

Blue Chips and Hot Stocks

According to S3 Partners data, Tesla has risen by about 17% in two days, causing short sellers to incur losses of approximately $3.5 billion at market prices. Since hitting bottom in April, Tesla's stock price has surged by over 70%. For short sellers, these have been painful months. Currently, Tesla's short positions account for 3.5% of outstanding shares, with a short position of 97 million shares, with a nominal value of $22.4 billion.

BYD's Thailand factory has been completed, marking BYD's first electric vehicle factory in Southeast Asia. The 8 millionth new energy vehicle from BYD rolled off the production line at the new factory in Thailand, making it the first global new energy vehicle manufacturer to exceed 8 million units.

Louis Vuitton (LV) has raised prices across the board starting from July 2, with adjustments ranging from 5% to 7%. Some counters have already received price adjustment notices. LV has raised prices more than 10 times in the past 3 years.

HSBC Holdings' plan to sell its German wealth management division has sparked preliminary interest from peers, including BNP Paribas and UBS Group. Credit Suisse Group is also studying this business, with the valuation in the transaction estimated to be between 300 million and 600 million euros.

Chips and Artificial Intelligence

According to The Information, SoftBank has recently discussed financing energy-related projects with several banks for up to $10 billion, and is also exploring ways to acquire a large number of NVIDIA graphics processing units.

Samsung Electronics' Device Solutions (DS) division responsible for the semiconductor business has been reorganized, establishing the HBM R&D group to focus on developing HBM3, HBM3E, and the next-generation HBM4 technologies. In addition, Samsung Electronics has also restructured the Advanced Packaging (AVP) team and the Equipment Technology Experiment Institute to enhance overall technological competitiveness.

During the 2024 World Artificial Intelligence Conference (WAIC 2024), Tencent showcased the Mix Yuan model along with "Tencent Yuanbao" and "Tencent Yuanqi". It was introduced that Tencent Yuanbao not only covers work efficiency and entertainment in life, providing core functions such as AI search, AI summarization, AI writing, but also offers interesting and fun applications such as creative painting, oral practice, and versatile AI avatars.

NetEase unveiled multiple AI new products for the first time at the World Artificial Intelligence Conference and launched its first robot brand "Lingdong".

SenseTime released its first controllable character video generation large model Vimi for C-end users, capable of stably generating 1-minute single-shot character videos.

Samsung stated that the Galaxy AI service is not completely free and may charge users after 2026.

Macro: Taking You to See the World

A Disney heir announced that they will stop donating to the Democratic Party until U.S. President Biden withdraws from the election.

The European Commission has decided to impose temporary anti-subsidy duties on pure electric vehicles imported from China. Among them, SAIC Group has an additional tax rate of 37.6%, Geely 19.9%, BYD 17.4%; other car companies cooperating with the EU investigation have an average additional tax rate of 20.8%, while those not cooperating have an additional tax rate of 37.6% This temporary tariff will take effect from July 5, 2024, with a maximum duration of four months; during this period, EU member states will vote to decide whether to convert it into a formal tariff lasting for five years.

The Chinese Ministry of Commerce introduced the progress of consultations between China and the EU on the EU's anti-subsidy investigation into Chinese electric vehicles: There is currently a four-month window period before the final ruling. It is hoped that the EU will work with China in a cooperative manner, show sincerity, expedite the negotiation process, and reach a mutually acceptable solution based on facts and rules as soon as possible