Apple Warns of Missed Revenue Target Amid Coronavirus Impact; Remdesivir Trials Underway with Results Expected in April

Major Events

MIIT Supports Three Telecom Operators in Launching Cloud Classroom Services for Primary and Secondary Schools

On February 17, reporters learned from the Ministry of Industry and Information Technology (MIIT) that the MIIT will continue to promote broadband network coverage for primary and secondary schools not yet connected to the internet, focusing on improving school network access conditions. It also supports the three major basic telecommunications enterprises in further launching services such as cloud classrooms and free live streaming and on-demand video, building upon previously introduced measures like free speed upgrades and discounted tariffs for primary and secondary schools, thereby supporting local education authorities in carrying out pilot applications.

National Health Commission: Postponement of the Expert Review for the Second Round of 2019 Licensing for the Allocation of Class A Large Medical Equipment

National Health Commission: To implement the CPC Central Committee and State Council’s requirements for novel coronavirus pneumonia (COVID-19) prevention and control, and to ensure that medical institutions at all levels and of all types focus their efforts on the treatment of COVID-19 patients, it has been decided, after review, to postpone the expert review process for the second round of 2019 licensing for the allocation of Class A large-scale medical equipment. Further notice regarding the rescheduling of the review will be issued separately.

Star Company

Apple:Quarterly Revenue Target Expected to Be Missed

Morning news from Beijing time on February 18,AppleThe company today issued updated financial guidance for its second fiscal quarter (ended March), announcing that it would miss its revenue targets for the quarter due to the impact of the COVID-19 outbreak in China. Apple stated, “The quarterly guidance we provided on January 28, 2020, reflected the best information available at that time, as well as our best estimates regarding the pace of resumption of work in China following the Lunar New Year holiday, which ended on February 10. While operations are gradually restarting across China, the return to normal conditions is proceeding more slowly than we had anticipated. Consequently, due to two primary factors, we now expect to fall short of the revenue guidance previously provided for the fiscal quarter ending in March.” These two factors are constrained global iPhone supply and reduced demand for Apple products among customers in China.

National Government Service Platform to Launch Health Code for Epidemic Prevention and Control, with Tencent Participating in Its Development

Under the guidance of the E-Government Office of the General Office of the State Council, Tencent has participated in advancing the development of the health information code for epidemic prevention and control on the National Integrated Government Service Platform, and is about to launch the epidemic prevention and control information service via the WeChat mini-program of the National Government Service Platform. The introduction of the health information code for epidemic prevention and control on the National Integrated Government Service Platform is expected to resolve issues such as inconsistent data standards and cross-regional incompatibility arising from the collection of residents’ health information through multiple channels, thereby achieving interconnectivity of epidemic-related services across provinces and regions, and better supporting nationwide epidemic prevention and control efforts.

Remdesivir Clinical Trial Progress: Patients Receive 10-Day Intravenous Infusion, Results Expected in April

Dr. Merdad Parsey, Chief Medical Officer of Gilead Sciences, provided further responses regarding the latest progress in the clinical trials of remdesivir. He stated that two randomized, controlled trials to evaluate remdesivir had been rapidly established, one targeting patients with severe conditions and the other targeting those with moderate conditions. These trials are being conducted at multiple hospitals in Hubei Province, with patient enrollment currently underway. The clinical trials are coordinated by China-Japan Friendship Hospital. Patients will receive a 10-day course of intravenous remdesivir. The primary endpoints of both studies include improvement in clinical symptoms 28 days after treatment. Trial results are expected to be available in April.

OPPO Formulates Chip Development Plan, Establishes Technical Committee, and Proposes Three Major Initiatives

On the evening of February 16, OPPO’s CEO Special Assistant published an internal article titled “Reflections on Building Core Technologies,” which outlined three major initiatives covering software development, cloud computing, and the “Marianna Project” related to chips. The Marianna Project is a standalone internal initiative, with Jiang Bo serving as its Senior Director of Product Planning. Technical investment for this project is guaranteed by OPPO’s Chip Technology Management Group (TMG), which was officially established last October as part of the group-wide TMG structure.

Huawei HMS to Debut in Europe: Honor V30 Premieres

News on the evening of February 17: Honor will launch the Honor V30 series, equipped with HMS (Huawei Mobile Services), in the European market next week. This will be the first smartphone under Huawei to come pre-installed with the HMS ecosystem. The Honor V30 was already launched in the Chinese market at the end of last year, marking Honor’s first 5G smartphone. The Honor V30 series released for overseas markets will use HMS (Huawei Mobile Services) instead of GMS (Google Mobile Services).

BMW’s Largest Global Production Base Fully Resumes Operations in China

On February 17, BMW’s largest global production base in Shenyang officially resumed operations. Nearly 20,000 employees, including those from supplier partners within the facility, returned to work as scheduled, and the two complete vehicle plants are expected to fully restore normal production in the near term.

TeslaResearching Solar-Powered Innovations in Grid Technology

According to Electrek, Tesla is researching “scalable hierarchical energy distribution grid” technology, which could revolutionize how the power grid distributes solar energy. To date, Tesla’s energy division has primarily focused on deploying distributed solar generation and energy storage assets.

Ongoing Pandemic May Cause Global Switch Shortages; Stockouts Expected in Europe and the US by Early April

According to foreign media reports, the Nintendo Switch may face global shortages due to production bottlenecks caused by the novel coronavirus outbreak, with stocks in the US and European markets potentially running out as early as April. Insiders stated that limited component supplies from China are affecting the output of Nintendo’s assembly plant in Vietnam, which the company now relies on to produce consoles for the US market. The component shortage this month will impact Switch shipments in April, as existing inventory and current shipments have already been sold out.

Investment and Financing

WuXi AppTec Plans $30 Million Investment in Canbridge Pharma to Strengthen Rare Disease Portfolio

WuXi AppTec Announces External Investment: WuXi Fund I, a wholly-owned subsidiary of the Company, along with General Atlantic and seven other investors, has entered into a preferred share subscription agreement with Canaan Therapeutics. WuXi Fund I’s total investment amounts to USD 30 million, comprising USD 20 million for the subscription of newly issued preferred shares in this round and USD 10 million as the maximum amount available for future subscription of preferred shares pursuant to warrants. Following this round of investment, the Company will hold a 13.11% equity stake in Canaan Therapeutics. Through this transaction, the Company will strengthen its strategic presence in the field of rare diseases.

“Astranis” Closes $90 Million Series B Debt and Equity Financing Round

According to foreign media reports, commercial satellite startup “Astranis” recently announced the completion of a $90 million Series B financing round. This round included both debt and equity financing, with $40 million in equity financing coming from Venrock, Y Combinator, A16Z, and other firms, and $50 million in debt financing provided by TriplePoint Capital. The funds will be used to support the launch of Astranis’s first commercial satellite.

The Big Boss Said

Musk: To Deploy Solar Roof Business in International Markets Including China Later This Year

Beijing, February 17 (Evening News) – According to foreign media reports, Tesla CEO Elon Musk stated that the company will deploy its Solar Roof business in international markets later this year. Musk announced the timeline for the international expansion on Twitter, saying, “Looking forward to expanding into international markets later this year.” This indicates that Tesla will expand its Solar Roof business in international markets such as China and Europe later this year.

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