Founder and CEO of Huawei (Huawei) said on Monday that the company will reduce production in the next two years, and it is estimated that it will drop by 30 billion US dollars. This year and next year, sales revenue will be around 100 billion US dollars. 2021 can regain vitality. Many versions of will be switched in the past two years, and it will take time to run-in and test. Ren Zhengfei said that even if Huawei's finances are hit to a certain extent, investment in scientific research will not be reduced. In the next five years, Huawei will invest $100 billion to restructure its network architecture, making it simpler, faster, safer and more trustworthy. Huawei announced revenue in 2018 of RMB 721.2 billion (about US$104.16 billion).
Broadcom expects the company's revenue to drop by $2 billion this year, causing uproar in the global chip industry. Huawei accounted for 4% of Broadcom's overall revenue last year, or about US$900 million. Broadcom also stated that the revenue reduction estimate is not only affected by a specific customer, but also exploring the uncertainty of the market situation. It can be said that the uncertainty caused by supply chain compression has caused the decline in order demand.
market research agency IHS Markit showed that in the first quarter of this year, the global sales of smartphone panels of Samsung Display was US$3.454 billion, with a market share of 40.2% . The second-ranked Japanese display company (JDI) has 12.3%, while the market share of China's JD (BOE) is 11.9%. In the smartphone OLED panel market, Samsung displays have a global market share of up to 86.5%. BOE has surpassed LG Display (3%) with an 8.3% market share, ranking second for the first time.
Small and medium-sized LCD panel giant "Japan Display Company" (JDI) announced on the 17th that it had accepted a capital injection of up to 80 billion yen, and that Chinese fund "Harvest Group" and others would postpone the date of institutional decision to on the 27th. This is the third time that the date has been postponed. The Taiwanese company "TPK Holdings" that originally planned to provide assistance decided to withdraw, and the Hong Kong fund "Oasis Management" will join. Harvest and Oasis plan to make institutional decisions until the 27th at the latest. The institutional decision of the Taiwan fund "CGL Group" is still unpredictable.
Apple Inc. is accelerating original content creation and plans to launch six low-cost movies each year. In March this year, Apple has released a TV+ service, and Apple will provide a variety of original TV series and movies through the TV+ service. Meanwhile, Apple plans to provide $5-30 million in funding for each movie, with the goal of these original movies being the Oscars.
Fiat Chrysler (FCA) CEO Mike Manley met with executives of Renault in Paris to start new negotiations on a possible merger . The potential agreement may be based on the original plan, but it no longer involves Nissan . Whether the two sides can restart negotiations will depend on whether they can overcome two major obstacles: one is to change the role played by the French government, and the other is to get support from Nissan.
Volkswagen (Volkswagen) released the group's global sales for May showed that in May, the global sales of Volkswagen Group were 918,900 units, a year-on-year decline of 3.6% ; in the first five months of this year, Volkswagen Group's global cumulative sales were 4390,800 units, a year-on-year decline of 3.7%. Volkswagen passenger cars sold 512,100 units in May, down 5.1% year-on-year; the Audi brand sold 151,900 units in May, down 5.4% year-on-year. In May, Volkswagen Group's cumulative sales in the Chinese market (including Hong Kong) were 312,500 units, down 8.3% compared with the same period last year; in the first five months of this year, Volkswagen Group's cumulative sales in the Chinese market were 1561,700 units, down 7.4% year-on-year.
Tesla (Tesla) is building a Gigafactory 3 electric vehicle factory in Shanghai at an amazing speed. The building is almost completed and production equipment is currently being installed. Gigafactory 3 is Tesla's first manufacturing factory in China and the first wholly foreign-owned electric vehicle factory in China. Tesla hopes to produce 3,000 Model 3s per week in the Gigafactory 3 in Shanghai by the end of this year. At the Fremont plant, the company is currently working to stabilize production at 7,000 vehicles per week.
Deutsche Bank is planning a complete restructuring of its trading business, creating a "bad bank" to manage up to 50 billion euros of non-performing assets , mainly including long-term derivatives, and shrinking or closing stock and interest rate trading businesses outside Europe. As part of this restructuring, Deutsche Bank's stock and interest rate trading business outside the European continent will be reduced or completely closed.
Goldman Sachs Group will merge its four private equity investment divisions to form a larger entity to invest in private enterprises, real estate and other transactions. The exact structure of the new sector will be determined in the coming months, with an asset size of about $140 billion, almost equivalent to KKR, about one-third of that of Blackstone.
The historic auction house Sotheby’s was sold to billionaire Patrick Drahi , founder of French telecom/media group Altice for $3.7 billion, ending its 31-year journey as a publicly listed company. The deal was proposed by Drahi, and the parties conducted intense negotiations. The French-Israeli entrepreneur loves to collect art and in recent years seeks to increase his popularity outside of the telecommunications industry where he made his fortune.
Saudi Aramco will conduct its initial public offering (IPO) as early as next year, but the company has not yet made a decision on where the stock will be traded. GE Aviation, a aviation engine manufacturer of GE, said on Monday that the compressor stator of its engine made for the Boeing (Boeing) 777X aircraft, accidentally found wear and tear , and needed to be redesigned and tested, which would delay the first flight of the world's largest twin-engine passenger aircraft by several months. Boeing originally planned to make its first flight for the 777X this month, but now it has to postpone it for a few months.
French aircraft manufacturer Airbus launched the A321XLR passenger aircraft at the ongoing Paris Air Show and announced an order for the new model . Airbus aims to open new routes for airlines with smaller aircraft and scramble ahead of plans for a new, mid-market aircraft that rival Boeing may launch. The new A321XLR will have a range of 4,700 nautical miles (about 8,704 kilometers), which is 15% longer than the previous A321LR. Meanwhile, Air Lease Corp. has also announced an order for 100 Airbus aircraft, including 27 Airbus A321XLR aircraft.
Pfizer announced on Monday that it agreed to acquire cancer drug developer Array BioPharma Inc. in cash, with a total corporate value of approximately $11.4 billion . The boards of the two companies have approved the merger. Biopharmaceutical company Array was founded in 1998 in Delaware , the United States. It is committed to discovering, developing and promoting targeted small molecule drugs to treat cancer patients. The acquisition of Array will give Pfizer an advantage in colorectal cancer in the future.
After its fast-growing shingles vaccine Shingrix is approved, drugmaker GlaxoSmithKline (GSK) plans to expand its vaccine business in China , and lung disease drug Advair should also drive its performance growth. GlaxoSmithKline is also focusing on providing experimental anti-cancer drugs to Chinese patients as soon as possible. As new drug regulatory approvals accelerate, global pharmaceutical companies such as AstraZeneca, Novartis and Pfizer are rapidly expanding in China's second largest drug market. GlaxoSmithKline hopes to close the gap with its competitors.
Jialibao Cosmetics Company (Kanebo) of Japan Kao announced on the 17th that the most advanced brand "SENSAI", which is mainly launched in Europe, will be launched on the Japanese market from September. It aims to enhance the brand charm of Jialibao and drive domestic sales in Japan through reverse imports of powerful brands that are very popular in Europe. We also strive to enter the Chinese market in 2020 and penetrate into Asia.
Chinese e-commerce giant Alibaba issued a statement saying that the company proposed a plan to split the common stock shares , with 8 shares of per share, and will vote at the shareholders' annual meeting held in Hong Kong on July 15. The statement said the share split will increase the flexibility of the company's financing activities, and the company's board of directors recommends shareholders vote for the proposal.The e-commerce giant is preparing for what might be the largest stock issuance deal in Hong Kong since 2010.
