Tagged: billion

Xiaomi considers participating in AI chip

Xiaomi (14.7, 0.00, 0.00%) is one of the investors considering participating in a round of at least 1.5 billion yuan (about $231million) of black sesame Intelligent Technology Co., Ltd., according to people familiar with the matter.

Xiaomi considers participating in AI chip

The financing valued the Shanghai based AI and autopilot chip manufacturer at a maximum of $1.5 billion, with one person familiar with the financing saying that the investors in the last round of black sesame financing included Tencent holdings.

According to people familiar with the matter, black sesame is considering listing on the science and technology board as early as next year. They say the company plans to raise at least one round of financing before any possible IPO.

The details of the scale and valuation of the round of financing may change, the people familiar with the matter said, while the discussion on IPO is still in an early stage, and black sesame may eventually decide not to seek listing.

It is valued at nearly 40 billion US dollars

As early as Tuesday, grab, a car hailing and food delivery company, will announce its U.S. listing through a merger with a special purpose acquisition company (SPAC), with a valuation of nearly $40 billion, according to people familiar with the matter. It will be the world’s largest spac deal to date.

It is valued at nearly 40 billion US dollars

As part of its merger with a special purpose acquisition backed by altimeter capital, grab will receive $4 billion in private investment from a group of Asian and global investors, including fidelity international and Janus Henderson, the source said.

Domestic demand of machine tools in March in Japan

According to the data released by the Japan work machinery industry association on April 12, Japan’s domestic machine tool orders in March were 40.6 billion yen, up 18.7% year-on-year. Since November 2018, there has been a year-on-year growth in two years and three months. Due to the active semiconductor market and the recovery of automobile production, the demand for production equipment is increasing, and the prosperity of Japan’s domestic manufacturing industry is recovering.

Domestic demand of machine tools in March in Japan

Together with export orders, Japan’s total machine tool orders in March increased by 65% to 127.8 billion yen, achieving a year-on-year growth for five consecutive months and reaching the highest level since March 2019. Among them, export orders reached 87.1 billion yen, double the year-on-year growth.

 

In the fiscal year 2020 to the end of March, Japan’s total machine tool orders decreased by 10.1% over the previous fiscal year to 988.4 billion yen. Affected by COVID-19, it fell below 1 trillion yen after 10 years. However, driven by the early recovery of China’s economy, foreign demand orders reached 662.2 billion yen, an increase of 1.4%.

TSMC’s first quarter revenue was NT $362.4 billion

TSMC (123.43%, 3.54%, 2.95%) reported on Friday that its revenue in the first quarter increased by 17% to NT $362.4 billion (about US $12.7 billion), exceeding analysts’ average expectation of NT $360.5 billion and reaching a new high for three consecutive quarters.

TSMC's first quarter revenue was NT $362.4 billionTSMC's first quarter revenue was NT $362.4 billion

Earlier this month, TSMC CEO Wei Zhixiong said in a recent letter to customers that the company’s Fabs “have been operating at more than 100% utilization for the past 12 months,” but demand still exceeds supply. The company plans to invest $100 billion over the next three years to expand its chip manufacturing capacity. Earlier, the company had said it planned to spend $25 billion to $28 billion this year to develop and produce advanced chips.

KKR’s Fourth Asia Pacific fund raised $15 billion

KKR, the US private equity giant, said on Tuesday that its Fourth Asia Pacific focused fund had raised $15 billion, the largest private equity fund in the region.

KKR's Fourth Asia Pacific fund raised $15 billion

KKR started marketing the new Asian fund at the end of 2019, initially planning to raise $12.5 billion, people familiar with the matter said earlier.

 

“Companies in the Asia Pacific region are beginning to realize that they have the potential not only to become domestic and regional leaders, but also to become global leaders in their industries,” Ashish Shastry, KKR’s co head of Asia Pacific private equity, said in a statement announcing the fund’s start-up.

 

KKR said the fund had exceeded its target size and hit the rigid upper limit for investors to subscribe. The fund has received warm support from new and old investors all over the world, with a high proportion of investors in the Asia Pacific region.

 

The growth of science and technology industry stimulated by the epidemic is expected to promote M & A activities in Asia this year. Private equity backed deals in Asia rose 51% last year to a record $129 billion.

 

A number of regional fund companies, including China Chunhua capital and Boyu capital, are also raising funds, the source said, with Hillhead capital planning to raise $13 billion.

 

KKR said its fund would take advantage of increased consumer spending, urbanization trends, and corporate spin offs and consolidation.

The report of Beijing City Sub-center is released

A few days ago, Beijing announced the “14th Five-Year Plan” proposal, which mentioned the planning and construction of the city’s sub-center 12 times. As one of the “two wings” of the coordinated development of Beijing-Tianjin-Hebei, what is the current progress of the construction of the city’s sub-center? Which areas will be developed in the next five years?

office

On December 15, Beijing held a series of press conferences “Reviewing the 13th Five-Year Plan and Looking Forward to the Fourteenth Five-Year Plan”-a special press conference for the construction of the city’s sub-center. Zeng Zanrong, Executive Deputy Secretary of the Party Working Committee of the Beijing City Deputy Center, Executive Deputy Director of the Management Committee, and Secretary of the Tongzhou District Committee, said that the city’s sub-center has seized the opportunity to relieve the functions of the central city. The regional GDP has exceeded 100 billion yuan and is expected to reach 108 billion yuan this year. , An increase of 57% from the end of the “Twelfth Five-Year Plan” period.

According to the “Beijing Sub-City Control Plan (Block Level) (2016-2035)” approved by the State Council in 2019, the city sub-center is strategically positioned as a world-class demonstration area for a harmonious and livable city and a demonstration of new urbanization District and the Beijing-Tianjin-Hebei region coordinated development demonstration zone.

Zeng Zanrong said that in the past five years, the city’s sub-center has clearly defined the leading functions of technological innovation, administrative office, business services, and cultural tourism. In 2019, the number of national high-tech enterprises increased by 668 from the end of the “Twelfth Five-Year Plan” period, reaching 1,077.

From January to November 2020, there will be 16,769 newly established enterprises in the city’s sub-center, ranking third in the city in terms of increment, an increase of 6.68%. In the first three quarters, the regional GDP reached 78.51 billion yuan, a year-on-year increase of 2%, and it achieved positive growth for two consecutive quarters. Among them, the financial industry realized an added value of 7.13 billion yuan, a year-on-year increase of 29.1%, which provided strong support for economic growth.

In terms of ecological environment, the cumulative concentration of PM2.5 dropped to 37 micrograms/m3, a 60% decrease from the end of the “Twelfth Five-Year Plan” period. The treatment of 53 sections of black and smelly water bodies has been completed, and the water quality of 9 entry and exit sections has all reached the national assessment target requirements. The forest coverage rate reached 33%, an increase of 5.7 percentage points from the end of the “Twelfth Five-Year Plan” period, and the 500-meter service radius coverage rate of park green space reached 91.2%.

Focusing on the construction progress of the “Universal Studios Project” of public concern, Wang Chengjun, Deputy Secretary of the Party Working Committee of Beijing City Deputy Center, Deputy Director of the Management Committee, and Director of the City Deputy Center Engineering Office, introduced that the first theme scenic spot “Future Water World” has been completed and handed over , 17 single buildings including the city avenue, technical service building, food processing warehouse, data center, etc. have all been completed and accepted. The world’s largest, heaviest, heaviest, and most difficult-to-build Global Plaza landmark has been launched. It will be a must for tourists to check in with internet celebrities. The surrounding 32 municipal roads, integrated pipe corridors and pipelines have been completed. .

During the “14th Five-Year Plan” period, the Beijing City Sub-center will also maintain an investment intensity of more than 100 billion yuan each year. Zhang Yanlin, member of the Party Working Committee of Beijing City Deputy Center, director of the Development and Reform Bureau of the Management Committee, and deputy director of the Municipal Development and Reform Commission, said that we have made a preliminary list of projects with a total investment of about 800 billion yuan, mainly focusing on infrastructure, people’s livelihood improvement and Three major areas of industrial development. In the future, the Beijing City Sub-center will also strengthen the coordination and linkage with the surrounding areas, actively undertake the functional easing of the central city, complete the second phase of the relocation of the administrative office area, and promote the transfer of high-quality resources in the central city to the sub-center in line with the functional positioning.