In corporate news, Alibaba's Damo Academy is reportedly cutting 70% of its staff in its autonomous driving business. However, Alibaba Cloud has denied the news, stating that some staff members will be transferred to Cainiao, while others will be moved to other business units within Alibaba.
Tencent Cloud's Vice President and Head of its AI platform, Li Xuechao revealed at the third Light Technology Public Welfare Creation Camp that the company is exploring the use of large models internally and with clients. Meanwhile, Tencent's Senior Vice President Ma Xiaoyi announced at the 2023 Tencent Games Conference that the company is working on new technologies to create a "collaborative game engine and tool chain" that can be used across teams and companies.
Real-estate developer Hopson Development Holdings saw a 10.1% YoY increase in total contracted sales to around RMB 11.652bn ($1.8bn) between January and April 2023. The company's property sales rose 14.34% YoY to RMB 11.387bn, but decoration sales fell 57.53% YoY to RMB 265 million.
China's People's Insurance Group received RMB 296.398bn in original insurance premiums between January and April 2023, up 7.33% YoY. The company's subsidiary, People's Property Insurance, saw a 9.5% YoY increase in original insurance premiums to about RMB 204.671bn, while People's Life Insurance saw a 1.6% YoY increase to about RMB 64.23bn and People's Health saw a 5.4% YoY increase to about RMB 27.497bn.
China Pacific Insurances premiums rose 1.9%, 15.63% and 23.46% YoY for its subsidiary Life Insurance, Property insurance and Pension Insurance respectively.
ZhongAn Online P&C Insurances original insurance premium income was RMB 8.459bn for the first four months of the year, representing a year-on-year increase of 27.9%.
Finally, China Eastern Airlines passenger capacity increased by 736.39% YoY in April 2023, while passenger turnover increased by 959.67% YoY, with an occupancy rate of 72.07%, up by 15.19 percentage points YoY.
