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1. Communication Development and Reform Commission interviewed Samsung: DRAM behind the rise of seven seasons behind the manipulator?
(Reporter Zhang Yiqun) In 2017, in stark contrast to the slowdown in the growth of end products such as smartphones, the price of electronic components represented by DRAM has been surging all the way from the second half of last year to the present, and the DRAM market has been broken down The record of the rising season, such a trend will continue until the first half of next year.
Compared with mobile phone manufacturers and consumers, DRAM industry giants Samsung, Hynix and other Korean companies have made huge profits in this round of market, and the position of industry dominance is further consolidated and the historical benchmark of performance is also set. .
Although the official analysis shows that the price increase is due to supply-side capacity constraints and demand-side diversification, but in the process of collecting micro-net reporter interviewed for the DRAM industry whether there is a Korean monopoly, manipulate prices The voice of doubt is not unusual.
Earlier, set micro-grid in the "Chinese antitrust agencies concerned about the DRAM even rose seven quarters, where is the end?" Article, the first disclosure of the DRAM industry prices caused by the attention of the NDRC reported the other according to the latest news reporter, there is news Said the NDRC had an interview with Samsung at this time, while China's mobile phone industry agencies are organizing enterprises to conduct discussions in the future does not rule out DRAM monopoly, price manipulation initiated the possibility of reporting to the NDRC.
DRAM and Samsung staged 'crazy 2017'
DRAM is a highly monopolized industry. It is an indisputable fact that the three companies led by Samsung, Hynix and Micron have grabbed nearly 90% of the market share, which gives them absolute market power.
The latest news shows that Taiwanese manufacturers said they have received notice from Samsung and Hynix that DRAM prices will continue to rise 5% -10% in the first quarter of next year. However, many mobile phone brands in mainland China have already received Samsung's implied DRAM prices in the first quarter of next year May continue to increase, we can imagine, in order to maintain profits, Micron will certainly follow up, and this situation is generally rare in the first quarter of the off-season, but also for the first half of next year, the price set the tone.
According to the DRAMeXchange survey, the supply side of the DRAM industry grew by only 19.5% in the first half of 2017, which is at a low level in recent years, far below the annual growth of more than 25% in the past while the demand side still has an annual growth of more than 22% More serious shortage of supply.
The recent IC Insights forecast pointed out that global DRAM sales will reach 72 billion U.S. dollars in 2017, an annual growth rate of 74%, close to the highest point in history (1994 annual growth rate of 78%).
Samsung is undoubtedly the biggest beneficiary of this round of DRAM prices.
From the sales data, Samsung DRAM sales revenue in 2016 (unit: 100 million US dollars) were 39.72, 43.18, 52.86, 59. The total annual revenue of about 20 billion US dollars. And from the current data, Samsung in 2017 In the first three quarters of DRAM sales (unit: 100 million US dollars) were: 64.23, 76.33, 87.9, a total of nearly 230 billion US dollars.That is, the first three quarters of 2017 Samsung DRAM sales have greatly exceeded the 2016 annual Total sales revenue, the first three quarters of the total revenue up 70%, the first three quarters of Samsung accounted for about 45% market share.
In the traditional DRAM season, the fourth quarter of the market, we can imagine, in short supply situation, Samsung's fourth quarter results will continue to soar, single-season and annual DRAM sales will also hit a record high.
Worries about the industry pressure
In 2017, the prices of components such as PC memory and mobile phone memory also rose due to the sharp price hikes in components. As the downstream manufacturers' lack of bargaining power over the price hikes proposed by Samsung et al. The end of the rising price of the final delivery to the consumer side, showing a trend of amplification, the most intuitive manifestation of this year is the consumer side of the double the price of PC memory, a substantial increase in the average mobile phone prices, so that the downstream business and consumers rather pressure.
From the perspective of smart phones, although the growth of the mobile phone market has slowed down in recent years, the average mobile phone price has been on the rise.
GFK data shows that in the first half of 2017, China's mobile phone market volume of retail sales grew by only 0.4% year-on-year, is expected to grow 2.5% year-on-year, but at the same time, this year, The average price of smart phones also reached 2,250 yuan, an increase of 13%.
However, the rising cost of mobile phone components is the main driver of this round of mobile phone price increases.
Meanwhile, for mobile phone manufacturers, with the mainstream of mobile memory becoming the mainstream of DRAM applications, the shipment of smartphones and the upgrade of stand-alone capacity are all closely related to the DRAM supply and demand.
According to the statistics of the state consulting firm, the average global memory capacity of smartphones in 2016 is about 2.4GB. This year, LPDDR4 is expected to grow substantially due to the mainstream applications. However, as mobile memory prices have been on the rise, handset manufacturers Scruples about the cost structure, have postponed the plan to increase memory capacity.In 2017 smartphone mobile memory average stand-alone capacity from 3.7GB down to about 3.2GB, compared with last year grew by only 33.4%.
In the face of rising memory prices, resulting in increased pressure on the cost structure, the majority of smart phone brands were forced to slow down the capacity of stand-alone capacity growth, such as the new generation of iPhone up to 3GB capacity, 4GB models to be 2018 Memory prices in the situation may be.
One mobile phone supply chain to the latest release of the market price of 7,500 millet red rice 5A, for example, an account to reporters, this low-end models of memory and flash memory costs totaling 150 yuan (20 US dollars) , While the 799's pricing also includes profits, so in the end, the price of optical storage accounted for a quarter of the cost of the entire mobile phone, but a higher proportion of high-end models, which in the past is unthinkable .
'This wave of DRAM prices will not only test the supply chain management capabilities of the major smart phone manufacturers, but also to the low-end models and small-scale mobile phone brands to bring heavy cost pressures,' the person said.
Regulators concerned about antitrust investigation or Kai
'In this year's DRAM price boom, DRAM price increases of more than 20% each quarter, each time out of stock, but the price has never been out of stock phenomenon.' A mobile industry executives told reporter.
As the DRAM industry has long been an oligopoly pattern, Hynix and Micron generally improper fanbirds, the basic look at Samsung's eyes and actress, Samsung is the real trader of the industry price, and the other two have formed a tacit understanding.
Another mobile phone company executives said that with nearly 50% of the market share, as long as Samsung said out of stock and stop supply, according to Hynix, Micron's production capacity simply can not meet the market demand, and if this is the reason Samsung Price, Hynix and Micron are willing to follow.
Of course, there are certainly cyclical factors in the adjustment of supply and demand. However, many interviewees pointed out in their interview that Samsung is also interested in deliberately influencing prices.
Low-cost kill, blood washing the market, after the collapse of competitors to seize the price of the right to speak, it is precisely because Samsung throughout the semiconductor industry chain penetration is very deep, Samsung has been accustomed to trader, with this set of "Xianyihouyang" The practice of killing the Quartet this year in addition to the field of DRAM, the screen, MLCC field is also staged the same play.
In fact, as early as 2006, the U.S. Department of Justice filed a lawsuit against companies such as Samsung, Elpida, Infineon and Hynix on the grounds of manipulating market prices from 1999 to 2002 with a total fine of about 730 million U.S. dollars. Samsung fined 300 million US dollars.
According to report, DRAM prices have led to the development and Reform Commission's attention.Recent information It is reported that the Development and Reform Commission has interviewed Samsung on this issue, however, but it is not sure whether to launch an antitrust investigation.
Antitrust investigations on price-cutting behavior in our country are generally based on cost sales. For price-raising activities, an antitrust expert who has interviewed a micro-web interview said that operators with market dominance have no significant changes in costs , To sell goods at unfair high prices or unfairly low prices to buy goods, may be involved in price manipulation.
A legal profession practitioners told reporters that China's law requires that the market share of more than 50%, can be presumed to have a market dominance, but whether the monopoly of monopoly, not only by virtue of market share as the basis for judgments, but to whether to abuse Market dominance, the development of monopoly agreements as the basis, including monopoly prices, tying sales, pre-payment, pressure account, limit the specified transactions and other acts, these can be used as evidence and evidence of the basis.
According to China Mobile Alliance, it has received reports from many enterprises that it is currently organizing discussions among industry enterprises and related antitrust experts and will not rule out reporting to the NDRC in the future.
China Unicom, a mobile handset manufacturer and supplier of chips, represented the interests of domestic industries and enterprises. This was the report of the China Mobile Alliance for Qualcomm, which attracted the attention of the NDRC and started the investigation of Qualcomm's monopoly Qualcomm finally received a punishment of 6.088 billion yuan, setting the highest in China's antitrust tickets.
2.2017 China Mobile who most profitable: pass millet or 1 billion US dollars, Huawei nearly 40 billion US dollars;
Set micro-grid December 22 reports
Several happy several sad, smart phone market today, the twilight, some manufacturers to reverse the surge in sales, there are manufacturers sadly leave.
According to domestic media reports, sources disclosed Friday that Chinese smartphone maker Xiaomi has said to the investment bank that its revenue will be up 18% above its target this year, marking a decline in sales in recent years. After a thorough dressing business, millet achieved a recovery.
It is reported that millet has invited investment banks to submit the tender for the company's initial public offering next year.Xiaomi's IPO is expected to become the world's largest technology company listed next year.According to millet made 17 billion to 180 billion dollars in revenue The investment bank expects millet to have at least $ 1 billion in net profit in 2017 and is expected to rise to about $ 2 billion next year.
Xiaomi spokesman confirmed that the company's revenue this year has exceeded the annual revenue target of about 15 billion U.S. dollars, but declined to comment on IPO issues and financial data.Industry analysts predict that the high growth of net profit of millet will be Lasts to 2019, it also makes it plausible for Xiaomi to make an IPO with a valuation of 100 billion U.S. dollars.
In addition to millet, Huawei cell phone also made a lot of money in recent years filled.According to the Chinese Alliance Secretary-General Wang Yanhui mobile microblogging said that millet profit of not less than one billion US dollars this year, Huawei's mobile phone profits this year should be close to 4 billion US dollars.
According to official figures released by Huawei, Huawei's handset shipments reached the third place in the world with 139 million units in 2016. Among them, Huawei's consumer business (including mobile phones, PCs, wristbands, watches, etc.) ) Sales revenue reached 178 billion yuan, an increase of 42%.
Some analysts predict that this year, Huawei handset sales will grow, or more than 140 million.However, Huawei has never announced profits.
In fact, in addition to Huawei, OPPO and vivo are also among the most profitable handset makers in China.After analysts forecast that the first half of this year, the best performance of domestic mobile phone brand OPPO and Vivo, the two mobile phone companies in the first half Kuang earned billions.
3.iPhone supply chain 201, the mainland accounted for less than one-tenth;
Set micro-mesh news, Nikkei news in the analysis of Apple's 2017 supplier list and found that the Apple iPhone, a total of 201 suppliers in mainland China to 19 ranked fourth, 52 for Taiwan factory, equal to four points One of the strong, the highest number of Habitat around the country, several important components are produced in Taiwan, followed by the United States (44), Japan (41).
Apple is particularly well-known for its globalization and the linkages between markets that make technology installations, cars or other foundries all over the world, and Nikkei dismantles Apple's supply chain and looks at the situation everywhere.
Data show that most Apple supply partners have headquarters in Taiwan and several key components are manufactured in Taiwan, including processor chips, lenses and packaging.
Everyone familiar Taiwan factory shares almost all stocks, including the foundry processor chip TSMC, the lens of the legislature, the most important assembly plant Hon Hai, and many printed circuit boards, 3D sensing, fit, such as zero chassis Component supplier.
While 70% of Apple suppliers are covered by the Asia region, the United States still ranks second in 44 vendors with high-end materials and chip designs. The number of Japanese suppliers is close to that of the United States with contracting projects including display panels and image sensors. 19 suppliers from mainland China are responsible for the production of glass panels, batteries, connectors and assemblies. It is worth noting that the number of suppliers in mainland China has doubled from that of 2012 while the volume in other countries has not changed much.
Ranked fifth in the EU, with 16 suppliers, mainly in Switzerland, providing semiconductor, antenna design and charging solutions. South Korea's main contribution is the OLED display and memory chips, count down to 12 South Korean companies for iPhone X Cargo, ranked sixth.
4.CES 2018 worth looking forward to AI technology;
The world's largest consumer electronics and technology exhibition - CES 2018 is coming! With artificial intelligence, machine learning, automatic driving and complex algorithms gradually into our daily lives, what attractive innovation this year's CES and Interesting products and applications?
Over the past few years, AI-powered fixtures and services have been the most popular and interesting project at the world's technology show, with clear new trends in the market beyond 2018. First, mainstream consumer products And increasingly integrate artificial intelligence, not just those high-end and refined products.Secondly, many products are built on artificial intelligence in front-end devices, rather than rely on the cloud.These trends are improving the usability, privacy and efficiency of smart applications , Making them more widely adopted.
The world's largest consumer electronics and technology exhibition is coming soon, take a look at this year's eye-catching innovation and interesting products, and the latest technology to drive them.
Power of 3D vision: DSLR cameras from companion robots to deconstruction
Buddy, a home-assistant robot that navigates around the home, won the CES Best Innovation Award for Robot and UAV Categories. The robot is equipped with 3D vision and multiple sensors to assist, educate, entertain and connect users , And monitoring security when no one in the house is available.
Buddy's embedded hardware supports multi-mode navigation (source: Blue Frog Robotics)
The technology that enables Buddy navigation skills is the ability to map and position in real time, automatically avoid collisions and obstacles, and remotely control the user through a smart phone screen. It is exciting that robots also have the potential to learn new skills because software development tools Packages (SDKs) and most of the software are open to make applications and skills available to anyone who is interested in. Alexa and other virtual assistants at Amazon just started using screens and video cameras to add functionality , The robot may be the next evolutionary direction.
Another winner in the smart city category is the Amaryllo AR4x, which uses embedded AIs to recognize and respond to faces and other objects, including opening doors to familiar faces or alerting potential intruders. Equipped with 1,080p resolution, night vision function, but also through the Ethernet network to receive power, easy to install and consume limited power.
Most recent improvements have been made to the quality of photo-taking on smartphones, thanks in large part to the incorporation of computational photography, in-depth learning and dual cameras into the new handset Light has made these technologies available in its L16 camera This is a further improvement on the CES Digital Imaging Award for Innovation, compared to a DSLR camera with a large lens and sensor, or a smartphone equipped with one or two miniature cameras The company employs an array of 16 small camera modules, each equipped with a lens, sensor and micromirror.
Flat DSLR camera with multiple small lenses and photogrammetry (source: Light.co)
Each time you use this camera to take a picture, at least 10 different modules shoot the same image at different focal distances from slightly different angles, and the camera uses smart processing to stitch all the images together to produce a high-resolution Images. A depth map of the scene is constructed by calculating the slight differences in each picture and the angle of the camera. This 3D information helps to achieve many post-processing functions such as changing focus and depth of field, DSLR camera made of portable smart phone shape, as much as possible to achieve the best of both worlds.
Semi-autonomous vehicles enter the mass market with high-efficiency sensors and processors
Due to Tesla's price tag, only a limited number of people can enjoy safe and convenient automatic driving functions.However, Nissan choose to mass market, in most of its models (not the most expensive ProPilot technology will be available in 2015. The Leaf Electric Vehicles (EVs) and Rogue SUVs, which receive the Best Innovations in CES Vehicle Intelligence and Autopilot Technology, will be equipped with ProPilot technology by 2018.
ProPilot technology uses a combination of sensors, including vision and radar, for intelligent cruise control and lane keeping assistance while driving on a single-lane highway. The control module drives the vehicle with clear lane markings visible, but the driver's hand must be on hand Keep the steering wheel in order for the system to work properly.
Nissan models incorporating ProPilot assistive technology push semi-automatic driving to the mainstream (source: Nissan)
Smart Sound: Personalized immersive audio and in-ear simultaneous interpretation
The nuraphone, which won the Best Innovation Award in the Headset category, is an interesting product that looks like a headset but has a silicone earplug that plugs into the ear canal.This design is very effective at isolating passive noise and allowing melody to go straight into Ears, while the bass line uses bone conduction technology across the skin.These features are designed to create a highly immersive listening experience that is as live as a show.
An interesting mix of headphones and in-ear earbuds for immersive audio (Source: Nuraphone)
Another feature of the Nuraphone is that they learn and adapt to each user's unique hearing, and when first used, the headset plays a particular frequency, prompting the user's ear to produce a subsonic sound called Otoacoustic Emissions (OAE) from the cochlea The Nuraphone also has a very responsive microphone for monitoring the OAE, as well as a built-in self-learning engine for decoding the perceived sound information and creating a personalized audio file.
This is a very innovative headset, but more exciting technology can be integrated into such devices.Many new intelligent headphones and audible devices with active noise cancellation, voice activation, and even voice Augmented reality features, such as the Mars headphone, another award-winning product in the headset category, are true wireless stereo headsets that support real-time translation of ten languages without the need for any external devices.
One of the biggest challenges is how to combine these features with a battery that lasts for an entire day, requiring the use of ultra-low-power microphones and processors, as well as suitable standards for Bluetooth over Bluetooth (BLE) Streaming audio
Looking forward to meet at CES 2018
Many exciting technologies and products will be on display at CES 2018. We will see impressive augmented reality / virtual reality (AR / VR) technology, as well as drones etc. However, the winners mentioned in this article Products also symbolize artificial intelligence, machine learning and sophisticated algorithms are gradually moving into everyday life that most people find useful, and many of these devices come with only small batteries or other limited power supplies, making energy efficiency the deciding factor As the technology advances, we will see the integration of more cameras, sensors and microphones into such products, and the power consumption will become even more important. Technology is accompanied by high efficiency and low power processing, and create unlimited opportunities for development.
5. Bitcoin plummeted 32% in a week Experts say fuse or bitcoin futures;
As of 4 p.m. yesterday, the lowest bid in Bitcoin for Bitstamp over the past 24 hours was $ 12560
■ reporter Liu Qi
Bitcoin hit a high of $ 20,000 a month in mid-month, but strong momentum turned around this week. Bitcoin, according to data from trading platforms such as Poloniex and Bitstamp, has been steadily falling in recent days. As of yesterday, the Securities Daily's press release Bitcoin prices have fallen below 14,000 U.S. dollars and fluctuated around 13,500 U.S. dollars, down 32.5% from the peak of this month. However, the recent two Bitcoin stock quotes on the market are also not optimistic. As of December 21 At the close, the January contract on the Chicago Board of Trade (CME) bitcoin futures contract settled down $ 1,710 at a settlement price of $ 15,330 while the Chicago Board Options Exchange (CBOE) bitcoin contract XBT for January delivery settled $ 1,410 a tonne at a settlement price of $ 15,290.
Bitcoin early gains too sharp, the callback is normal.While bitcoin futures on December 10, 2017 launch, bitcoin still maintain the upward trend, and a higher increase, does not rule out the bitcoin holding empty direction People may shorten the possibility of bitcoin, "a method 365 chief economist Li Hong included in the" Securities Daily "interview, said that after the introduction of bitcoin futures, there are different views on bitcoin investors and financial speculators will be compared The price trend of bitcoins has diverged. "Especially on the Bitcoin trading the blockchain assets of DEW, making it easier to short the bitcoin. DEW volume after the online boom, can be seen as the bitcoin's slump Fuse
Once stood on 20,000 US dollars high
A week decline over 32%
This year, bitcoin market, described as 'crazy' is by no means an exaggeration. At the beginning of the year, the price of bitcoin was around $ 1,000 and then kept rising. By September 2 this year, the price of bitcoin climbed to 32,350 yuan History, but only two days, the People's Bank of China, the Central Information Network and other seven ministries jointly issued the "Notice on the prevention of financing risk of tokens issuance," the document immediately after the Bitcoin price fell back on September 5 intraday Once fell to 22,592 yuan.And in the September 15, the price of bitcoin even dropping to 16,661 yuan.However, the decline has not continued.Although during this period, the country's three major major Bitcoin trading platform in the 10 On the 31st of the month, all digital assets ceased to be traded to the People's Exchange but did not depress the momentum of bitcoin's price increase. On November 19, the unit price of bitcoin exceeded US $ 8,000.
December 17, according to the bitcoin platform CEX.IO shows that Bitcoin dollar quotes for the first time exceeded 20000 US dollars mark, a new record high, several major Bitcoin trading platform outside the price also simultaneously approaching 20,000 US dollars mark.That is, In less than a year of this year, the price of bitcoin has risen 20-fold, compared to an average of 1,300 bitcoin bought at just $ 1 a year in 2009.
However, the trend of consecutive strong rally turned this week.According to Poloniex, Bitstamp and other trading platform data show that Bitcoin continued to decline in recent days.As of yesterday, "Securities Daily" press time, Bitcoin prices have fallen below 14,000 US dollars, Shook at around $ 13,500, plunging 32.5% from its peak this month. As of 4pm yesterday, the minimum transaction price of Bitcoins in Bitcoin over the past 24 hours was $ 12560.
For the reasons for the recent bitcoin decline, Li Hanhong analysis, first of all, first of all, on December 21 Ukraine Liqui broke 60,000 bitcoin stolen, while other platforms such as currency and security also suffered hacker attacks yesterday, the market plummeted, perhaps bit Currency operation market premeditated behavior.Secondly, the recent global bitcoin futures have been on the line, the blockbuster on the line on Thursday DEW trading volume is huge, a great short-term intraday trading, which will lead to market re-wash Short-term speculators will be out, in the long run there will be more new Bitcoin players, blockchain investors take this opportunity to pick up the disk again, the current domestic market news, the domestic digital currency exchange closed after China Many large owners and bookmakers have stopped bitcoin trading, and Christmas is approaching, the global capital side of tensions, we can see that this is the result of foreign capital short.
Two US futures exchanges
Online Bitcoin Futures
Bitcoin has recently taken a new twist in addition to its own deal, with Bitcoin trading officially on the Chicago Board Options Exchange on the morning of December 11, code XBT, said Ed Tilly, global market chairman and CEO: Given the unprecedented interest in Bitcoin in the marketplace, we will provide our clients with trading tools to help them express their views on investing and hedge their risks. "Throughout December, CBOT's BTC trading was free.
Bitcoin Futures debut staged several blown CBOE official website shows that Bitcoin futures contract delivery in January next year opened at 15,000 US dollars, the contract price after the opening of a larger volatility, due to fluctuations in the threshold of 10% CBOE announced a moratorium on the transaction for 2 minutes after which the CBOE announced a moratorium on further easing due to the further expansion of the gain to 20% .It is reported that CBOE's fuse mechanism is that the up / down rate of 10%, the transaction is suspended for 2 minutes, up 20% , Suspended for 5 minutes.
Only one week apart, Beijing time at 7:00 on December 18, the world's largest futures exchange, the United States Chicago Mercantile Exchange's bitcoin futures products are also officially listed transactions. The main contract in recent months (due in January 2018) opened higher To $ 20,650 and there are other contracts available for trades expiring in February, March 2018 and June 2018. Unlike the CBOE fuse mechanism, CME's bitcoin futures contracts traded daily up / down on the previous day When the amplitude reaches 7% and 13%, it will blow for 2 minutes.
After the Chicago Board Options Exchange and the Chicago Mercantile Exchange introduced bitcoin futures, US online broker E * Trade Financial Corp announced on Wednesday its website that it would allow users to trade bitcoins on CBOE's exchanges.
On December 19 NYSE Arca, the NYSE-based electronics exchange, proposed to the Securities and Exchange Commission (SEC) to amend its own rules in the hope of getting two Bitcoin ETFs, the ProShares The Bitcoin ETF and the ProShares Short ETF are traded on the exchange NYSE Arca The above paper states that the two ETFs will track the recent launch of the CBTOT or CME Bitcoin exchanges on both exchanges.
Bitcoin futures risks and benefits co-exist
Only a few investors can make a profit
However, the two Bitcoin futures contracts since the listing of the trend is not satisfactory. CME bitcoin futures listed high and low on the first day, while the CBOE bitcoin currency XBT recently lost four days as of US time on December 21 At the close, CME Bitcoin Futures contract closed down $ 1,710 in January with settlement price of $ 15330; in January, XBT contract closed down $ 1,410 and settlement price was $ 15,290.
Although Bitcoin futures were not widely publicized in December, they were nothing new in the "currency ring." A veteran bitcoin investor told the Securities Daily that he did bitcoin futures, which is trading in contracts A few years ago, he was trading a bitcoin trading platform, the reporter saw the platform has a special 'contract transactions' this one, the introduction reads 'USD virtual contract, BTC / LTC settlement transactions' Trading features a variety of leverage, multiple contracts, long cycle, easy to cover. At the same time, the platform also provides multiple trading strategies, 'professional strategy trading tools can help investors to achieve automatic stop loss, automatic jiacang, automatic dismantling and other complex 'S operating strategy, so investors do not need to mark the city, auto-complete transactions'.
Speaking on the proceeds of bitcoin futures, he said: 'At present, 95% of the people who make futures are' giving money 'and the people who earn money from bitcoin futures are definitely the minority. The news has a big impact on futures prices , Especially after the addition of leverage, winning or losing more. 'At the same time, he told this reporter, even if the domestic supervision of this, the market volatility, the current bitcoin agent trading situation, whether it is The bitter enthusiasm for bitcoin futures investors remains the same.
However, the risks of bitcoin futures should not be underestimated. On December 11, China Securities Regulatory Commission of Hong Kong circulated a circular on the website urging investors to take note of the risks associated with bitcoin futures contracts and other cryptocurrency-related investment products and reminded the financial The legal and regulatory requirements that service providers should be aware of when targeting Hong Kong customers indicate that some futures and commodity exchanges in the United States have or will soon launch bitcoin futures contracts and that Hong Kong investors in Hong Kong may also use intermediaries However, the provision of trading services and related services (including the conveyance or delivery of orders) to these Chinese investors in Hong Kong for the PRC constitutes a regulated activity and a license is required regardless of whether the business is located in Hong Kong.
In the meantime, China Securities Regulatory Commission of Hong Kong warned investors that the speculative nature of the underlying assets (ie cryptocurrencies) and the leverage inherent in such products in the trading of encrypted currency futures contracts and other related investment products could cause the price to fluctuate significantly and So that the liquidity of the risk of increased. Securities Daily
6. Baidu sued former executives Wang Jin claim 50 million behind: already long-standing contradictions
December 22, from the media knowledge of the intellectual property shows that Baidu to trade secrets on the grounds of infringement, the former automatic driving division general manager Wang Jin and Wang Jin operated by the United States Jingchi company sued the Beijing Intellectual Property Court.
Baidu asked the court to order the two defendants to immediately stop infringing on Baidu's trade secrets, including not only ceasing to use the trade secrets to engage in auto driving related businesses competing with Baidu and ordering the two defendants to jointly compensate for their economic losses and a reasonable expense of 5000 Million, while the two defendants publicly announced to eliminate the impact, and bear the full cost of litigation.
In this case, Baidu believes that for a long time it has invested heavily in the field of automatic driving and has set up a department of automatic driving to engage in the research and development, testing and commercialization of automatic driving. It has a high reputation in the field of automatic driving at home and abroad , At home and abroad in the relevant technical areas in a leading position, and has a lot of trade secrets.
While serving as the general manager of Auto-Driving Division, Wang Jin is responsible for all business development and talent management of Baidu and its affiliated Auto-Driving Dept. and has a great deal of direct and indirect contact with its business partners and customers and owns Baidu directly administers the R & D and commercialization team of autonomous driving, which fully understands and grasps the commercial secrets (including technical secrets and business secrets) of Baidu in the field of automatic driving.
Baidu said Wang Jin suspected of infringing on trade secrets reflected in the following areas:
First, Wang Jin and Wang Jin explicitly stipulated the non-competition restriction obligations in the labor contracts and did not solicit Baidu employee obligations and confidentiality obligations. On March 31, 2017, Wang Jin left his job and Baidu paid compensation on time and in full. However, when Wang Jin left office, he neither returned to Baidu any computers or other items that contained the important trade secrets of Baidu, nor did he make any resignation and handover or even directly breached the contractual obligations after he left the company, infringing Baidu's trade secrets.
Second, Wang Jin planned to set up Kingco in Baidu before the departure of Kingco, a company engaged in auto-driving business of Jingchi, with Wang Jin as the chief executive officer. Since its inception, Kingco has been pioneering the business in the Chinese market, In the field of automatic driving with Baidu has a direct competitive relationship.
Thirdly, during his tenure of office, Wang Jin publicly violated the duties of company executives' faithfulness and non-competition, using his position to recruit technical personnel from Baidu. After his departure, Wang Jin further violated the non-competition restrictions and took the lead of Kingco's founders and chief executives Name to conduct business expansion, wantonly recruiting and hiring Baidu automatic driving technicians, and use as its general manager of Baidu automatic driving division holds a large number of automatic driving technical secrets and business information to carry out their own automatic driving business.
Later, Baidu confirmed the news to the media. 'This is true. Thank you for your attention. At present, the case has entered the judicial process and any progress has been made based on the information publicly disclosed by the court.'
This year, Baidu will AI as the company's business focus, while constantly recruiting AI talent from the outside at the same time, there are constantly AI talent from Baidu to start a business.
Refused to complete statistics, the former chief scientist Wu Ennda Baidu left Baidu, founded the landing.ai project to help manufacturers use artificial intelligence technology; former Baidu Institute Dean Lin Yuanqing left Baidu, founded Aibee, the use of artificial intelligence technology To help upgrade traditional industries; former Baidu Depth Learning Institute IDL executive vice president Yu Kai left Baidu, founded the Horizon robot to provide embedded artificial intelligence solutions; former architect Baidu unmanned aerial vehicles James Peng and Lou Tiancheng left After Baidu, founded the unmanned company pony ching pony.ai and so on.
Most of them chose to continue their business in AI after leaving Baidu, and they also continued to work on driverless work. However, only Wang Jin became the first knife to start Baidu's "Safeguarding Trade Secrets."
No one with Baidu car rings
Wang Jin joined Baidu in April 2010 and previously served in a number of companies including Oracle, Informix and E-Loan. After returning to China, he served as Alibaba's Senior Technical Director, EBay China CTO, General Manager of EBay China R & D Center, Google China Engineering Research Institute associate dean.
After joining Baidu, Wang Jin founded Baidu Mobile Cloud Business Unit, Baidu Big Data Department, Baidu Infrastructure (Cloud Computing) Department, Baidu USA R & D Center and Baidu Shenzhen R & D Center.
In December 2013, Wang Jin was promoted to Baidu's senior vice president and has also become a member of Baidu's top E-staff.
Baidu has given Wang Jin a high rating: 'Wang Jin is responsible for the commercialization of Baidu's technology and products (Phoenix Nest), through technical means, so that Baidu revenue in a 5-year period, a full 10-fold increase; to create a large data engine Baidu, large Data + open platform, Baidu Cloud, Baidu Open Cloud, Baidu brain, and actively promote the speech recognition, image recognition and other cutting-edge technology development.He laid the ARM CPU, GPU, FPGA-based high-performance heterogeneous computing platform early, Let Baidu's HPC (high performance computing) capabilities in the international leader. '
In July 2014, under the leadership of Wang Jin, Baidu Institute for Advanced Learning (IDL) as the foundation, co-founded the Baidu Research Institute, Institute of Deep Learning renamed the depth of learning laboratory. Prior to this, IDL has been internally Unmanned R & D embarked on research projects, Wang Jin and become unmanned research and development projects of the highest person in charge.
Two months later, Baidu announced a partnership with BMW to overcome the technical challenges of highly automated driving in China's road environment in three years. On December 10, 2015, a red-and-white BMW 3 Series GT sedan Baidu departure, the official test run.
At the end of 2015, Baidu formally announced the establishment of the Autopilot Division. Wang Jin served as the general manager of the division and put forward the slogan of "three years of commercial use and five years of mass production." This became his last stop at Baidu.
Originally, the cooperation with BMW looks very smooth, but has encountered disagreements.On the outside, BMW states that both parties have different opinions on the R & D route, and internally, they think that Wang Jin's advocacy of automatic driving is difficult for commercial operation in a short period of time .
At the same time, Zhang Yaqin's subordinate team immediately set up the Baidu Intelligent Automotive Division, the main L3 level of automatic driving.The difference between the two is that L3 is progressive, in a specific scenario auxiliary human driver, L4 is completely unmanned drive.
Subsequently, Baidu is again structural adjustment, Wang Jin will be responsible for the composition of Baidu's Internet business and the future of Baidu brain business infrastructure several departments to Zhang Yaqin. As a result, Wang Jin management of a substantial reduction in business scope, the focus is only responsible for automatic Driving Division (L4).
Awkward departure
Wang Jin, who originally placed his focus on the autonomous driving department, soon met Baidu's biggest personnel change this year.
In early 2017, Lu Qi joined Baidu, and more than a month after his arrival, on March 1, he announced that Wang Jin's autonomous driving division (L4) and Zhang Yaqin's intelligent automotive division (L3) and car networking business Car Life etc.) all together, set up a smart driving group (IDG), personally by him.
The reasons given for the merger are that the business structure in the past was relatively fragmented, and several business divisions belonged to different business groups, which was not conducive to the coordination of internal resources and the overall business development. The outside world also had doubts about the affiliation of relevant businesses.
After the adjustment, Wang Jin ceased to be the general manager of the autonomous driving department for personal and family reasons, while Tiancheng and James Peng, chief architect of the team, also left their careers.
Baidu said, 'Wang Jin will be some time to adjust the internal rest.' Then Wang Jin disappeared from the list of Baidu executives.
On March 27, when Wang Jin attended the 2017 Hongta Fund CEO's Spring Branch, he suddenly announced one-sidedly that he would start his business from Baidu in the next five days, and for the first time speak for himself instead of Baidu. 'He Also disclosed that it had obtained the investment of Hongtai Fund, but did not disclose the specific amount. Subsequently, the media confirmed the information to Baidu.
On March 29, Wang Jin appeared on the official agenda of the IT Leadership Summit. His title is already the founder and CEO of Kingco, participating in the driverless forum discussion.
According to Wang Jin Baidu's file shows that Wang Jin officially quit on March 31, the two sides in the labor contract expressly agreed non-competition obligations, does not attract Baidu employee obligations and confidentiality obligations. Since then, Baidu has been paid in full and on time Non-competition limit compensation, and Wang Jin did not return to Baidu's possession of important commercial secrets of computers and other items, nor did any departure to take over.
In early April, King Chi technology officially announced the completion of tens of millions of angel round of financing, investors for the Hongtai Fund .In July, Wang Jing in the formal establishment of King Chi, the first public representative King Chi speech in public; September, Wang Jin disclosed the company's progress to the media for the first time.
In an interview with CBN, Wang Jin said that he had considered a lot of business models without leaving Baidu, such as driverless trucks, but eventually decided to use the driverless technology in the city Shared car travel field.
For leaving Baidu Venture, Wang Jin also said no relationship with Lu Qi, he talked about the reason is that 'UAV is a fast fish eat slow fish industry, who run faster, who will have more wins Chances, but in a big business, there are a lot of challenges and when you make a decision, there are a lot of trade-offs and trade-offs in balancing a lot of relationships, but that's all in the startup Up
Especially when it comes to positioning the company, Wang Jin revealed that such a problem has been quarreled many times in Baidu. "What kind of company is it going to be and what kind of business model to go to? Baidu high-level, I have (very high level), and sometimes do not care about using the table ah, this bitter I do not want to be over.
Wang Jin regretted their own venture too late, 'driverless has become, is the benefit of the country and the people, it is definitely worth all the energy into.'
Face Baidu competition
'King Chi relaxation is the fastest (driverless company)', Wang Jin in the media for the first time to disclose the company's progress PPT show: April 3, King Chi technology was born; on May 12, completed the first closed road without Pilot test on June 18; Californian GMV Drive Test license on June 18; completed the first open road drone test on June 24; and Commuter traffic in the peak hours of Silicon Valley on September 8.
By Wang Jin's plan, King Chi will be in June 2020 to achieve mass production of driverless cars by the end of this year or early next year to deploy unmanned vehicles in one to three cities in China, and has been in Anqing and Anhui government Signed a strategic cooperation agreement.
Wang Jin also disclosed in the media meeting: 'At present, the company is headquartered in Silicon Valley and will be relocated to China next year. Next year, Q1 will also land in a certain city in China to launch trial operation of the fleet. A-round financing has been launched and the planned financing amount is 100 million yuan Dollars. '
As Baidu said in its indictment, Kingco has been pioneering the business in the Chinese market and has a direct competitive relationship with Baidu in the area of autonomous driving.
As the former general manager of Baidu automatic driving, Wang Jin's business can also be described as 'smooth sailing.'
Before starting a business, Wang Jin always worried about having no money, but the result quickly got financing from several investment institutions such as China Creative. The original plan was that the angel round only melted 10 million U.S. dollars and the result reached 30 million U.S. dollars.
Wang Jin also Jingchi rapid growth attributed to the reasons for the talent, many of whom are former senior staff of Baidu, the most prominent include the original Baidu driving chief scientist Han Xu and algorithm engineer Chen Shixi.
Han Xu is a CTO with King Chi. He received his Ph.D. degree in computer engineering from the University of Illinois at Urbana-Champaign in 2007 and joined the Baidu Institute of American Studies in 2014. He specializes in artificial intelligence image recognition.
Chen Shixi dominated Baidu Star in 2011. He joined Baidu in T4 grade in 2013 and a month later he rebuilt the important code to make it to T7. In 2015, Chen Shixun fought in unmanned vehicles and became Baidu T9 in 2017. In his time at Baidu Tianzhucheng Louzhen, said Programming Gemini.
In addition, there is Li Yan, former chief engineer of the unmanned state of Shenzhou, a former director of dripless drone Yang Qingxiong.
This makes Baidu think, 'Wang Jin in service during a blatant violation of company executives loyalty obligations and non-competition restrictions, the use of his position to facilitate the recruitment of technical personnel from Baidu; after leaving further violations of non-competition restrictions to Jingchi founder and chief Executives in the name of business development, wantonly recruiting and hiring Baidu automatic driving technicians, and use it as Baidu automatic driving division general manager held during a large number of automatic driving technical secrets and operating information, to carry out their own automatic driving business '
Prior to King's Prosecution King Chi, Shenzhou started King Procter & Gamble early litigation proceedings directed at its original core Silicon Valley laboratory Shenzhou four former employees involved in the establishment of Jingchi and joined the company.
The four employees in addition to the aforementioned Li Yan, as well as Kou Zhenzhen, Zhong Hua, Hoda (both transliteration), they are in UCB Silicon Valley Laboratory responsible for autonomous driving technology research and development work, March 14 collective resignation.
On March 29, the United States District Court for the Northern District of California formally issued a Provisional Prohibition Order to the four people, which means that the four parties and their related parties must not in any way infringe on UMC technology until the court formally adjudicates Intellectual property or commercial leaks.
Up till now, Wang Jin has also responded to Baidu's prosecution. 'Baidu's prosecution has absolutely no basis in fact and our lawyer will respond in fact and law.'
'Jingchuang technology go all out to create unmanned technology for China has now become the undisputed leader in China's driverless technology as an innovative start-up company, we fear the size of competitors, such a challenge not Will delay the pace of our development. "He added:" King's headquarters is about to move back to China and within two weeks we will showcase our technological capabilities in China. "
And a few months ago, Wang Jin said: 'The driverless industry is big enough to accommodate many companies in different ways.' Interface - Technology