1. User balance has been cleared, but the deposit is still pending! Cool Cycling’s 298 yuan deposit needs to be claimed in Beijing.
Last week, many riders had waited for months expecting refunds, only to find out that their deposits were cleared without any explanation. The company originally promised to handle over 1.4 million bikes and refund deposits, but now Bayer, the CEO, claims he is just a third-party operator and not responsible for the refunds. The situation has caused confusion among users, who are now labeled as "abnormal" by the business sector.
According to Shanghai media, the only way to get your 298 yuan deposit back is to visit the headquarters of Cool Horses at Wanda Plaza in Tongzhou District, Beijing. You need to bring an ID card or have an immediate family member with an account number and a registered phone number. Some users have reported that the process is quick and simple — just show your ID, have the app on your phone, and provide the registered number. The deposit is usually returned within 5 seconds through the original payment method. However, the remaining balance in the app cannot be refunded.
Comment: Only the first two steps are clear, but the third is still uncertain. Keep an eye on the deposit refund process!
2. Sunac China Provides 1.79 Billion Loan to LeTV
Sunac China announced on November 16 that its subsidiary conditionally agreed to provide a 500 million RMB loan (first loan) to LeTV for general operating funds. Additionally, it also approved a second loan of 1.29 billion RMB for similar purposes. At the same time, Sunac Real Estate has conditionally agreed to guarantee LeTV’s existing and new debts, up to a total of 3 billion RMB.
A document circulating online under the name of “Sunshine Group†reportedly states that all TVs used in Sunac regions must be LeTV TVs. Some residential projects even donated LeTV TVs based on different project requirements.
Comment: It seems like LeTV is trying to regain stability, and capital strategies continue to evolve.
3. Ministry of Industry and Information Technology: Major Operators Must Not Restrict Old Users’ Choices
The Ministry of Industry and Information Technology recently released a report on telecom service quality in Q3 2017. According to the notice, telecom service capabilities have improved, and 4G user numbers continued to grow. From January to September, 147 million more 4G users joined, totaling 947 million. Mobile internet traffic reached 15.4 billion GB, up 148.3% year-on-year. Complaints about telecom services dropped by 24.1% year-on-year, while spam message reports increased by 23.4% year-on-year but decreased by 4.4% month-on-month.
The ministry requires the three major telecom operators to cancel domestic long-distance and roaming charges for mobile phones. They should also properly address user concerns, resolve complaints, and protect user rights. The ministry emphasized that companies must not introduce tariff plans that restrict old users’ choices. During end-of-year promotions, they must not exaggerate or mislead customers, nor belittle competitors.
Comment: Great news! I heard that if you cancel your service, the complaint system works quickly.
Behind the Toshiba Transfer: Made in China Replaces Japan
On the 14th, Hisense Electric, a listed company under Hisense Group, and Toshiba Corporation announced that 95% of the shares of Toshiba Image Solutions have officially transferred to Hisense.
In recent years, many Chinese companies have invested overseas, often spending billions. However, Hisense’s acquisition of Toshiba is relatively smaller in scale but still generated significant public attention. Once a top Japanese brand, Toshiba is now being acquired by a Chinese firm. In recent years, many Japanese electronics companies have declined and been taken over by Chinese firms.
In 1995, there were 149 Japanese companies on the Fortune 500 list. By 2015, only 54 remained. In the 1990s, Sony, Sharp, Panasonic, Hitachi, Toshiba, and Sanyo were the top six TV manufacturers in Japan. Today, only Sony and Panasonic remain strong, while others are now operated by Chinese companies.
In 2015, China Changhong acquired Panasonic’s Sanyo TV business, gaining exclusive rights to use the “Sanyo†brand in mainland China. In 2016, Sharp accepted a 388.8 billion yen investment from Hon Hai and became its subsidiary. In July 2016, Lenovo acquired a 90% stake in NEC, forming a joint venture. Recently, Lenovo also acquired a 51% stake in Fujitsu’s PC business.
Comment: So far, it seems that only Sony is still profitable. What else is left of the Japanese electronics industry?
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