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Zhongguancun Online News: This morning, Qualcomm officially released the Snapdragon 8 Gen2 processor. The new processor not only has a significant improvement in performance, but also has a considerable improvement in AI. In this press conference, Xiaomi said that based on the AI performance of the second-generation Snapdragon 8, Xiaomi is expected to launch offline Xiao Ai Classmate in 2023. Xiaomi introduced that offline Xiao Ai Classmate will support offline Keyword Spotting,…

The male fan broke through the security line and rushed to the stage to give flowers to Andy, who was then besieged.

　　　　protagonist: Andy Lau

　　　　time: Around 11 p.m. on November 6, 2007.

　　　　location: Chengdu Sports Center Stadium, Sichuan Province, Andy Lau China Tour Chengdu Concert

　　　　relevant person: 1. Fans (young men)

　　　　2. Local security guards (several)

　　　　3. Local public safety experts (several)

　　　　causeA male fan crosses two iron barriers during a performance and presents flowers to Liu Tianwang

　　　　Andy Lau China station concert tour recently held the last stop in Chengdu, a male fan broke through the guard line, rushed to the stage to shake hands with Andy and send flowers, security and police immediately out of the block, want to pull the fans away from the scene, Andy kept on the stage told them not to fans rough, in a hurry to jump down more than two meters high stage to protect the fans. The scene suddenly chaotic, all the staff and security rushed to the stage to protect Andy, Andy didn’t even sing, personally took the fan back to the backstage, told the guards not to be rough, only to return to the stage to continue the performance. More than 60,000 audience was moved by his behavior, applause.

　　　　A concert staff member explained in detail over the phone:

　　　　At the end of the performance, at the penultimate song, a male fan rushed out with flowers in his hand. There was a second iron gate in front of the stage, and there were dozens of public safety experts and security guards in front of the gate. They all stood there and patronized the performance. The male fan actually jumped over the second gate in one go, rushed to the front of the stage, and then stood on the speaker to offer flowers to Andy. Several security and public safety experts rushed up, grabbed him and beat him up.

　　　　Andy saw fans being besieged by more than a dozen security and public safety experts on the stage, and kept telling them not to be rude to fans.

　　　　At this moment, I didn’t expect Andy to suddenly make a move that surprised all the staff around us. He jumped off the 2.2-meter-high stage, vigorously pushed away the public safety expert, and said loudly: Don’t hit him, he’s my fan, he’s just giving flowers, there will be no malice. You let him go.

　　　　At this point, the scene is very chaotic. We immediately stopped the surrounding public safety experts, while dissuading Andy Lau, suppressing his anger and preventing the situation from further deteriorating, and then "bet" on Andy, fans and beaters to quickly circle from the black cloth channel to the backstage.

　　　　All of this happened in a short time. I believe the audience in the front row, the reporters, the leaders, and many viewers in the stands saw it. But because of the sudden and short time, many people only saw the actions of the male fans and the actions of the public safety experts and security guards, not Andy’s reaction after jumping off the stage or his words…

　　　　He continued by phone: "Andy Lau is the only one in the world when the singer jumps off the stage to save fans so desperately."

　　　　Andy returned to the stage to continue the performance, disrupting the original program. The song was accompanied by dancers, and the dancers continued to dance according to the original choreography and rhythm. The place and angle of the actors’ performance area were very narrow. Andy suddenly intervened, and the actors were taken aback. In order to avoid Andy, an actor fell off the stage and fell injured. We had to deal with fans, public safety experts, Andy, injured dancers, and the "exit" work that we had already been busy with. Everything rushed in all of a sudden, and we were very busy. Fortunately, we had experience and were not in chaos in the face of danger, so we were guaranteed a smooth finish.

　　　　(Note: "Exit" is a difficult task for us in large-scale individual singing. How can the artist leave completely and quickly after singing the last song, so as to avoid the crowd of tens of thousands of fans, whether the backstage steps are safe and stable, whether the retreat channel is smooth, how the bodyguards protect themselves, how vehicles (including cover cars) walk, although the distance between the backstage and the stadium gate is only tens of meters or 100 meters, but how to "evacuate" quickly, safely and smoothly within one or two minutes is an extremely critical part of the performance. Consideration, design, and execution must be rigorous, meticulous, meticulous, and safe. Otherwise, if there is a problem, the artist will be stranded in the "Wang Yanghai" of the fans, and it will be difficult to advance and retreat, and even life-threatening.)

　　　　"Is that fan hurt?" asked.

　　　　"Fortunately, Andy stopped him in time. He was fine, but he was too frightened and kept crying backstage."

　　　　Andy Andy’s China Tour came to Chengdu, the last stop. I believe that singers in history will jump off the stage to save fans. Andy Lau is the only one in the world who is so desperate. After returning to the stage, the audience kept shouting, regarding Andy as a big hero, and shouting "Andy I love you".

　　　　"I was in District 13 at the time, and I was looking at the stage with a telescope. The whole process was very clear!"

　　　　"At first, I saw the police and security guards rushing towards the front of the stage from all directions. Andy was about to sing and stood in front of the stage, so he looked out to see what was going on. As a result, when he saw the police and security guards stopping a fan, Andy pointed at the police and shouted something (he couldn’t understand the shape of his mouth). However, the police and security guards below ignored him and dragged the fan out (about 10 meters away). Andy jumped down and rushed over. He first tugged at the police, yelled something, and then put a hunchback on the back of the police (or the security guard, I think it was the police, who didn’t pay attention to his clothes). Then the staff immediately came over to pick up Andy and isolate him from the police, but Andy still rushed over, pulled the fan beside him (it was a mess when I rushed over again, I couldn’t see if there was a security guard hitting Andy at my position), and then took it to the exit. There were a lot of people at the exit, so I didn’t see Andy’s figure, but all the dancers ran to the stage in our 13th district (I don’t know if it was looking down or dancing, it was almost the same anyway). Then I saw Andy back on the stage. "

CCTV News:At present, rural tourism is favored by more and more people. From hiking and camping, pastoral photography, to parent-child study tours and agricultural research, fancy gameplay not only meets people’s diverse consumption needs, but also injects new momentum into rural revitalization. The Ministry of Culture and Tourism recently announced the list of top ten cases and excellent cases of rural revitalization empowered by culture and tourism. Villages from 10 provinces, municipalities and autonomous regions including Tianjin, Hebei, Heilongjiang, Jiangsu and Shandong have become the top ten cases of rural revitalization empowered by culture and tourism. How can these places shape rural style, folk customs, intangible cultural heritage and other resources into the fulcrum of rural revitalization? During the Qingming holiday just passed, the reporter visited many towns and villages.

Chongqing Jingzhu village: integration of agriculture, culture and tourism to promote rural revitalization

Jingzhu Village is located in the hinterland of Xiannu Mountain, Wulong District, Chongqing. It is rich in natural resources and has a variety of landscapes such as forest sea, meadow, sinkhole and canyon. Tourists come here to enjoy flowers in spring, summer summer, autumn red leaves, and winter snow. During the Qingming holiday this year, many tourists come here every day to watch the clock in.

Grinding, brewing, pulling flowers… After a set of flowing movements, a cup of fragrant coffee is completed. She is Ran Guangfang, a well-known local "country barista". Ran Guangfang, 54, was a local farmer a few years ago.

Ran Guangfang works in a two-story glass building in the village, which is both a coffee bar and a rural library. With training in coffee making skills in the village, Ran Guangfang turned from a farmer to a rural barista.

Ran Guangfang, a villager in Jingzhu Village, Xiannushan Street, Wulong District, Chongqing, has changed a lot in recent years. Our family all work in the village. Except for the rest of the time, we do farm work at home.

The story of rural barista Ran Guangfang is just a microcosm of Wulong District’s promotion of the integrated development of primary, secondary and tertiary industries + tourism. Since embarking on the road of rural tourism development in 2015, the sinkholes, canyons and forest seas previously hidden in the boudoir have become the favored scenery of tourists. The dilapidated pig pens and flue-cured tobacco houses have been artistically transformed into tea shops and libraries for Internet celebrities. Villagers who rely on farming for a living have found 9-to-5 jobs at their doorstep. The development of the tourism industry has not only changed the lives of villagers, but also strung together the hopes and dreams of villagers.

In 2023, Jingzhu Village received more than 550,000 tourists, and the per capita disposable income of the villagers reached 25,110 yuan.

*******cheng, director of the Fairy Mountain Street Office in Wulong District, said that next, it will further promote the active and in-depth integration of primary, secondary and tertiary industries in Jingzhu Village, and introduce more consumption scenarios and application scenarios of agricultural, cultural and tourism integration and innovative development, so that Jingzhu Village will become a wonderland and resort in the hearts of tourists, and strive to create a model place for the modernization of mountainous areas where eco-tourism drives the common prosperity of the countryside.

Yinan, Shandong: Deepening tourism resources and empowering rural revitalization

In recent years, Yinan County, Linyi City, Shandong Province, known as the "hometown of Red Sisters", is an important birthplace of the Yimeng spirit. In recent years, Yinan County has relied on red resources to create a characteristic cultural tourism brand and explore the "Yinan model" of cultural industry empowering rural revitalization.

During the Qingming Festival holiday, at the Red Film and Television Base in Yinan County, the immersive small theater was performing the play "Women’s Salvation Club", which attracted many tourists to stop and clock in. The play tells the story of a group of women comrades who emerged in the old revolutionary base of Yimeng during the Anti-Japanese War. This group is called "Yimeng Red Sisters". The superb acting skills of the actors bring the audience into it, as if they were immersed in the scene.

This kind of immersive small theater is a cultural tourism project innovated by Yinan County relying on local red resources. On the first day of the Qingming holiday, the number of tourists in the scenic spot reached 5,000. Through the development of red tourism industry, it has also found a "breakthrough" for the revitalization of the countryside. This scenic spot is a village called Changshanzhuang. Now the villagers have moved into the new community as a whole, and the old houses have been preserved. Relying on this unique advantage, it has established a tourist area in Shandong Honglao’s hometown that integrates red research, film and television shooting, and leisure tourism. It has undertaken more than 400 red film and television dramas such as "Yimeng" and "Bullfighting".

Gao Yan, head of the marketing activities section of the Yinan County Culture and Tourism Bureau, said that relying on this tourist area, a "four members in one district" cultural tourism Huinong model of "four members in one district" who work as employees in scenic spots, invest in land as members, wear costumes as actors, and sell products as shop assistants has been formed.

According to the characteristics of different villages, the local area fully exploits the advantages of differentiated resources and implements the diversified cultural and tourism formats of "one village, one product". At present, there are 14 tourist attractions in Yinan County, which receive 11.2346 million tourists every year, and the turnover has reached 8.562 billion yuan. Radiation has driven more than 12,000 villagers in 84 villages to increase their per capita income by 20,000 yuan.

Dong Shousheng, director of the Yinan County Culture and Tourism Bureau, said that the integration of culture and tourism is a new engine for our rural revitalization, which can effectively activate the new industry of rural development. Only by actively exploring new ways of the integrated development of culture and tourism can our farmers see more hope for development and enjoy the fruitful fruits brought by rural revitalization.

The picture comes from NIO’s official website. If there is any infringement, please inform and delete it.

On March 1, NIO announced its financial report for 2022, with a net loss of 14.437 billion yuan in 2022, breaking the trend of gradually narrowing losses in the past two years. The market believes that it seems to return to the dilemma of being in the ICU in 2019. In comparison, Li Auto’s loss of 2.03 billion yuan is almost negligible.

Gross margin cut in half, expenses further increased, cash reserves dropped… The sustainability of NIO began to face widespread doubts, and the reaction of capital markets was more direct. On March 1, the US stock market closed down 5.96%. At $8.83, it reached a new low since the second half of 2020.

Li Bin and NIO are under great pressure.

But at the same time of huge losses, NIO is still up the ante. Recently, NIO announced that it will add 1,000 replacement stations this year to cover more markets in third- and fourth-tier cities. Li Bin believes that in addition to the first-tier market, there is still more market space to expand. The construction of the charging and replacement system is providing support for NIO to sell cars.

In addition, the Financial Union reported that NIO’s new factory settled in Chuzhou, Anhui, and will put into production NIO’s third brand Firefly. Unlike the high-end positioning of the NIO brand, Firefly focuses on low-end models, and the price range may be 100,000 yuan to 200,000 yuan, or even 100,000 yuan.

At this time, if combined with the construction plan of the power station just mentioned, it seems that NIO’s sinking ambition can be found. Around this phenomenon, this paper attempts to answer the following three questions:

1. Why are car companies obsessed with the lower-tier market?

2. NIO, which starts from the mid-to-high-end market, "goes down", the advantages outweigh the disadvantages?

3. Is the lower-tier market a piece of fat for new power car companies?

Competing for the lower-tier market

Dcar and the China Electric Vehicle 100 Association released the "Low-tier market new energy vehicle user consumption behavior insight report", which studies and analyzes the portrait user, car purchase behavior and consumption trend of new energy vehicles in third-tier and lower cities.

The report pointed out that the lower-tier market users in the purchase of vehicles, the choice of new energy vehicles than the proportion of first- and second-tier cities, compared to first- and second-tier city users on the appearance of interior, cutting-edge technology, lower-tier market users are more concerned about parameter configuration and model price, the 150,000 yuan models are more favored.

Lower-tier market share of population

Zhang Yongwei, secretary general of the China Electric Vehicle 100 Association, made it even more clear that the new energy vehicle market will accelerate in 2023, with sales in second- and third-tier cities expected to account for more than 60%.

At the same time, our country is also accelerating the construction of new energy vehicle charging facilities. Cities in the third- and fourth-tier and below are promoting the increase of charging infrastructure building by formulating local subsidies and setting the upper limit of charging service fees. According to the latest data released by the China Charging Alliance, as of October 2022, the cumulative number of charging infrastructure in the country was 4.708 million units, an increase of 109% year-on-year.

From the current market development situation, the third- and fourth-tier markets are likely to be the next incremental space for new energy vehicles, and demand is being released.

Therefore, not only NIO, but also other new car players are eyeing the lower-tier market.

As early as three years ago, Tesla publicly announced the central city settlement plan, covering a total of 45 cities in the four major regions of China, including Yancheng, Jiangsu, Linyi, Shandong, Nanning, Guangxi, Ganzhou, Jiangxi and other low-tier cities – which was also interpreted by the outside world as Tesla’s sinking plan.

In March last year, Tesla published an article on its official account, "Tesla Village in the Mountains," describing how Cai Ge, who grew up in Panzhiga Village in Yunnan Province, inspired the villagers to replace their oil carts with Teslas.

In addition to further increasing the exposure of the original product, Tesla plans to launch a new model that is more accessible to the people, and is equipped with a more powerful, safe and cheap new battery.

The best implementation of the lower-tier market is BYD.

Data show that from 2021 to 2022, BYD’s sales of several hot-selling models in third-tier and lower-tier cities increased from 30% to nearly 40%. As of September 2022, BYD’s store ratio in third-tier and lower-tier cities was about 50%, with nearly 800 stores. BYD is reaping the growth dividends of the new energy vehicle market with its cost-effectiveness and car cost advantages.

In addition, Li Xiang, chairperson of Li Auto, said that another focus of Li Auto in 2023 is to expand the network layout of third- and fourth-tier cities. It is expected to add 50 urban layouts and 150 stores, basically completing the coverage of third- and above-tier cities.

Xiaopeng is also offering cost-effective products to the wider market. Xiaopeng P5 has the "world’s first mass-produced lidar smart car" label, and the subsidized price is 157,900-223,900 yuan. Xiaopeng’s experience center has also begun to expand to cities such as Liuzhou, Luoyang, Weifang, etc.

Second, with Tesla’s heart, lean towards BYD

However, it is a bit regrettable that the players seem to be actively planning, with the exception of BYD, most of them have achieved little.

After analyzing the sales channels of new car manufacturers such as Tesla and Wei Xiaoli, some research institutions found that their stores are still concentrated in first- and second-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, as well as in economically developed regions such as the Yangtze River Delta and the Pearl River Delta. Sales contributions also continue to come from these central cities.

But one thing is very interesting, today’s new car forces seem to be experiencing a "siege". Nezha and zero runners, who were originally developing steadily in the 100,000-200,000 yuan market, are focusing on the mid-to-high-end market to "gold-plated" the brand; while Wei Xiaoli, who is "looked up", hopes to use the lower-tier market to harvest more users.

From high-end to low-end, there are advantages and disadvantages. How should car companies choose? Huawei Smart Car Solutions BU CEO Yu Chengdong once said bluntly in an interview that he will not make a car within 200,000 yuan. But Che Bai think tank believes that small and beautiful cannot withstand big waves. For high-end car companies, it should impact the low-end market.

First, the high-end market is no longer attractive.

In the era when there were not so many new forces, Wei Xiaoli directly started building cars from the mid-to-high-end market, and after a period of relatively high-profile days, such as the Xiaopeng P7, NIO ES8, and Ideal ONE models, they all achieved very good results.

But Cui Dongshu, secretary-general of the Passenger Federation, said that in the current domestic new energy vehicle market, the sales of models under 200,000 yuan account for more than 50%, and it is expected that the market share of models under 200,000 yuan will be more than 70% in the future. This means that the high-end market where "Wei Xiaoli" is located is more than 200,000 yuan, which is not the fastest growing range.

Take NIO alone, Li Bin once proudly said that the average price of NIO exceeded 400,000 yuan. From another perspective, 400,000 yuan has also become a gap between NIO and the vast majority of users. If NIO wants to further increase its market share, it must enrich its product system, and sinking is an inevitable choice.

Secondly, the delivery volume is an important indicator of capital to see new power.

The logic is that the automobile industry has a strong economy of scale. In their book The Automobile Industry, the British economists Maxi and Silberstone argued that only mass production of cars can make prices more acceptable to consumers, and then consumers can promote product delivery, and a positive flywheel will run. And capital is also a big fan of this theory, so delivery is their primary consideration.

However, under the premise that high-end tram sales cannot increase rapidly, NIO’s delivery volume is worrying, and it has been forced to relinquish its top position in delivery volume since 2021.

NIO’s top priority now is to find new growth poles.

At this time, the launch of Alpine and Firefly sub-brands corresponding to the low-end market may be the key breakthrough for NIO to reverse the situation. If it enters too late, the market price may be divided by BYD, Tesla and other car companies, and it will be difficult for NIO to get a share.

The advantage of the high-end market lies in profit margins, while the advantage of the mid-to-low-end market is that it can move volume and provide higher risk resistance in times of economic crisis. Therefore, even with Tesla’s heart in mind, NIO has to rely on BYD.

Fortunately, NIO has obvious advantages in attacking the lower-tier market. For companies based in the low-end market, it is extremely difficult to move to the high-end market. In turn, high-end car companies sink into the low-end market, but it is much simpler. Price reduction and reduction are common solutions.

In addition, NIO has an advantage over other car companies, which is the power station. In Xingfu Town, Boxing County, Binzhou City, Shandong Province, NIO has 500 car owners, and the town’s household registration population is only 50,000. The reason why so many people are willing to buy NIO is because of the local construction of the power station.

When NIO’s charging stations are ubiquitous, it is difficult for other brand car companies to replicate them.

III. It is difficult to steal business from someone else’s mountain

The advantage is not small, but the problem of NIO entering the low-end market cannot be ignored. One of the keys is how much money NIO still has. When NIO went public in Hong Kong in early 2022, it revealed that the cash reserve was about 60 billion yuan, but NIO’s net loss in 2021 exceeded 10 billion yuan, and the net loss in 2022 exceeded 14.40 billion.

In addition to the loss mentioned at the beginning of the article, as well as spending huge sums of money to build and replace power stations, NIO will continue to build up the ante self-made battery, successively established (Shanghai Jiading) laboratory, set up research and development, manufacturing, sales (Anhui) company, 400 million yuan to invest in Xinganda, 12 million Australian dollars to subscribe to 12.6% of the shares of the Australian Mining Company (GR). Some time ago, Jianghuai Automobile acquired some assets of NIO at a price of 1.704 billion yuan, and many media believed that Jianghuai was assisting NIO.

Secondly, downward derivative models are not technically difficult for NIO, butBuilding a low-cost model is not easyAnd with the decline in raw material prices, the electric vehicle market is very likely to usher in a new round of price cuts to further compress NIO’s gross margin. At Tesla’s just-concluded investor day, Musk said that its models can further reduce costs by 50%. This undoubtedly poses a huge challenge to local new car makers such as Wei Xiaoli.

Moreover, Che Bai think tank checked the data of new energy vehicles to the countryside activities and found that traditional car companies are the well-deserved main force – BYD, Great Wall, SAIC, Jianghuai, Dongfeng, Chery and other traditional old car companies, vehicles are mostly small and mini cars priced below 100,000 yuan and with a cruising range of less than 300 kilometers.

In 2022, only a few new car brands such as Zero Run and Hezhong participated in the new energy vehicle to the countryside activity, and all "Wei Xiaoli" were absent. Why did this happen?

Different from traditional fuel vehicles, new energy vehicles put forward higher requirements for the after-sales services of automobile companies and the construction of local charging pile supporting facilities. Traditional car companies have more scale advantages in production and more perfect channel construction in the lower-tier market.

It is undeniable that the lower-tier market is the next traffic depression, but for most current car players, it is also a place full of thorns. Is the traditional car company relying on favorable terrain to continue to advance, or is the new force swooping into the battle? It is still unknown, but it is not up to NIO to choose.

Looking back at the price of Tesla Model X at that time, which was nearly one million yuan, it firmly stood in the position of a high-end brand, but since 2010, Tesla has been in a state of loss, and even reached the brink of life and death. It was not until 2016 that Tesla turned to the public to make a profit. Therefore, we might as well give domestic new cars some more time.

[Full text reference]

[1] "Insight Report on Consumption Behavior of New Energy Vehicle Users in the Lower-tier Market", China Electric Vehicle Hundred People’s Association & Dcar

[2] "BYD’s" price increase ", how long can it" sell the crown "?", inside and outside the table, Insight Data Research Institute

[3] "New energy vehicles enter the fourth year in the countryside, and the market needs more efforts to sink", China Consumer News

[4] "Tesla Village in the Mountains", Tesla Tesla

　 　 Movie Network News On the evening of November 23rd, the 50th Taiwan Film Golden Horse Awards were announced in Taipei, and various awards were won. Jackie Chan and Cheng Jiaban won the Best Action Design Award, and he smiled when he won the Golden Horse, revealing his film plan within five years. Cai Mingliang won the Best Director Award, and his favorite Li Kangsheng was also named the Best Actor. Both were recognized by the Golden Horse, and Cai Mingliang also laughed that Andy Lau could also make his own plays.

Cai Mingliang: Andy Lau can also film my play

　 　 Previously, Cai Mingliang’s new film won the grand prize of the 70th Venice International Film Festival, and this time he won two heavyweight awards at the awards ceremony at his doorstep. He sighed with a lot of emotion, "It’s not easy. With a sense of glory, I’m not so excited to win awards abroad." At this point, he choked up, saying that his film has finally been recognized by Taiwanese audiences, and years of hard work have not been in vain.

　 　 After Cai Mingliang got the best director, he said that if Li Kangsheng missed the best actor, he would give him the trophy. Fortunately, in the end, his love will become emperor as he wished. Cai Mingliang finally breathed a sigh of relief and said with a smile that it may not be just for Li Kangsheng in the future.

Jackie Chan: I will be very busy in the next five or six years

　 　 20 years ago, Jackie Chan won the Golden Horse Award for Best Actor twice in a row. This time, he was shortlisted for the Best Action Design Award for "Zodiac". After successfully winning the Golden Horse Award, he bluntly said that making action movies is more fulfilling, "Every time there is a nomination for the Golden Horse, I will come. This award is the highest award as an action director. The actor may not be happy with this, but I am very happy because the martial finger can be accepted by others." Jackie Chan said that in fact, he did not like making literary films at all. "When I was young, I didn’t like literary films. I either cried or laughed. When I was filming, I cried for a day. Er Dongsheng asked me to cry, then cry, and then click. I would rather go to the jumping scene."

　 　 Although Jackie Chan said that "Zodiac" is his last big action movie, but the next part of Jackie Chan’s play is actually quite a lot of action, "I will shoot" Cross-Border Tracking "soon, and then Li Rengang is" Soldiers from the Sky ", and Zhang Yimou’s new film, I will be busy in the next five or six years." He also revealed that "Cross-Border Tracking" will be filmed in the United States, Mongolia, Sichuan, China and many other places.

Li XuejianWhat is it?Feng XiaogangInvited me ten years ago

　 　 The competition for the best supporting actor is also very fierce. Li Xuejian defeated Huang Bo, Tong Dawei and others to win the trophy. At the age of 59, he bluntly said that he likes "the little golden horse". "I like the little golden horse from the bottom of my heart, because I am a horse, which is a mascot and fate. I have liked horses since I was a child, and my original wish was to be a cavalry, but later when I was shot, I was thrown by a horse, so I didn’t dare to ride a horse." Li Xuejian also said that he wanted to put the trophy in "the most beloved place." When asked where it was, he gestured with his hand and signaled to keep it in his heart.

　 　 This time, with his performance in China, Li Xuejian won the trophy. He revealed that the director Feng Xiaogang had actually found himself ten years ago and starred in the role of Li Peiji. "He (referring to Feng Xiaogang) prepared this play more than ten years ago, but he has not approved it. He found me ten years ago, and after four or five years, he was not allowed to shoot.

Chen ZheyiWhat is it?The mainland has been submitted for trial

　 　 The Singaporean film "Mom and Dad Away" was the biggest dark horse at the Golden Horse Awards this year, winning four awards for Best Feature Film, Best New Director, Best Supporting Actress, and Best Original Screenplay in one fell swoop. Director and screenwriter Chen Zheyi was only 29 years old this year, and he was soft-hearted when he won the award. "I just came here to shake hands with Ang Lee, but I still didn’t dare." He also said that he was dumbfounded to be shortlisted this time, and the other four competitors for Best Feature Film are very strong, compared to his own film, which is too "petite". "Golden Horse is so kind to me, how can I get so much? There will be pressure."

　 　 Chen Zheyi revealed that "Mom and Dad are not at home" was filmed in Singapore for three years, and his wife went to school in London. During this period, she ran from both ends, and the cost was not small in addition to hard work. "I flew there once, and my directing fee was gone, and I was very poor. I got married at the age of 25, and now I have been married for 4 years. My wife said that there are still 3 years, and after 3 years, you have to earn a little money, or you will give up [making movies]."

　 　 In addition, Chen Zheyi also revealed that the copyright of "Mom and Dad Are Not at Home" in the mainland has been sold and has entered the stage of review, but whether it can be released is still unknown.

　　In 2024, the Hurun Rich List and the New Fortune 500 Rich List were released. Zhong Shanyuan, the founder of Nongfu Spring, once again topped the throne of China’s richest man with a total wealth of 450 billion yuan and a shareholding market value of 456.27 billion yuan. This is also his fourth consecutive title as China’s richest man. Mineral water is a traditional industry with intense competition and meager profits, but Nongfu Spring has achieved a hundred billion empire on such a track. What is the mystery?

　　High gross margin and ROE lay a solid foundation for Nongfu Spring

　　Despite the fierce competition in the mineral water industry, Nongfu Spring has an advantage among its peers due to its high gross profit margin and return on assets. The company’s net profit margin on sales in 2023 is as high as 28.15%, ranking among the best in the consumer goods industry, surpassing international giants such as Coca-Cola. At the same time, Nongfu Spring’s average ROE from 2019 to 2023 is 41.14%, and it will reach a high of 45.88% in 2023. This is mainly due to the company’s outstanding performance in supply chain management and cost control. Taking 2019 as an example, Nongfu Spring’s ability to control the cost of raw materials and packaging materials, logistics and transportation is significantly better than that of its peers, laying a solid foundation for high profit margins. Excellent profitability provides a guarantee for Nongfu Spring’s continuous and stable cash flow, and accumulates abundant capital for subsequent development.

　　All-category layout and innovation empower Nongfu Spring to develop incremental markets

　　The success of Nongfu Spring in recent years also lies in the industrial layout of all categories of beverages and the ability to cultivate new brands. In 2023, the company’s beverage business revenue accounted for more than mineral water for the first time, reaching 49.5%. Tea beverages, functional beverages, fruit juices and other categories together contributed more than 20 billion yuan in revenue. The matrix strategy across 17 brands and multiple categories has allowed Nongfu Spring to gain more incremental space outside the saturated mineral water market. Taking the tea drink "Oriental Leaves" as an example, the company has turned this "hardest drink" into a star product with 12.66 billion yuan in revenue, becoming the second growth curve after mineral water. With the support of innovative research and development capabilities, Nongfu Spring has continuously introduced new products, such as 100% tomato juice and 100% carrot mixed fruit and vegetable juice, to attract consumers’ attention with differentiated plant protein drinks.

　　The huge sales network and superior water sources are the moat of Nongfu Spring

　　Why can Nongfu Spring remain invincible in the fierce competition? In addition to the above factors, strong channel network coverage and high-quality water source endowment are the company’s core competitiveness that is difficult to replicate. In 2022, the company has more than 4,500 distributors, through which its products will be covered to more than 2.37 million end point retail outlets across the country. At the same time, the company’s high-quality water resources in Zhejiang Qiandao Lake, Jilin (), Hubei Danjiangkou and other places not only provide unique conditions for the production of Nongfu Spring high-end mineral water, but also bring synergy effect to the supply chain system of other beverage products, reducing comprehensive operating costs. With high-quality water sources and integrated operation from source to end point, Nongfu Spring has built an insurmountable moat in the industry competition.

　　After going public in 2020, Nongfu Spring handed over a bright transcript: a cumulative net profit of 33 billion yuan and a cash dividend of 23.10 billion yuan for three consecutive years. In the first two years of listing in Hong Kong, the company’s market value once rose to 750 billion yuan. Although it has since fallen back, it has stabilized in the 450 billion-500 billion yuan range. The price-to-earnings ratio in 2023 is 33 times, which is favored by Huatai Securities. It is given a valuation of 38 times, corresponding to a total market value of 459 billion yuan. This valuation reflects the capital markets’ affirmation of Nongfu Spring’s status as a "mineral water empire". Under the influence of external uncertainties such as brand crisis and market fluctuations, Nongfu Spring’s mature public relations and innovation capabilities have allowed it to move forward steadily and continuously consolidate its leading position in the industry. Zhong Shanyuan has achieved the pinnacle of mineral water, a traditional industry, and achieved the business legend of the era that belongs to Nongfu Spring.

(Text/Zhang Jiadong, Editor/Ma Yuanyuan)

Hengda, the real estate leader at its peak, has suddenly encountered "Waterloo" after the real estate industry was cold last year. As of September this year, 38 of Hengda’s 706 guaranteed real estate projects across the country have not resumed work.

Although Evergrande recently announced that the hearing of its liquidation petition will be postponed until November 2022, the market and Evergrande need good news.

According to Hengda’s official information, on September 16, Hengchi 5, the first model of Hengchi Automobile, was officially mass-produced at the Tianjin factory and began offline delivery in October.

In early 2019, in response to the rising tide of new energy in China, Hengda began to lay out the new energy automobile industry. But at the beginning of its establishment, Hengchi Automobile did not go well. According to the 2020 financial report, "Hengda Automobile", which was renamed from "Hengda Health", had revenue of 15.487 billion yuan that year, but of which revenue such as health care and medical beauty accounted for nearly 99%. New energy vehicle services such as lithium battery sales, technical services, and auto component sales contributed only 1%.

This data is completely different from Hengda’s investment in the new energy automobile industry. According to the management of Hengchi Automobile, as of March 2021, the company’s cumulative investment in the new energy automobile industry has exceeded 47.40 billion yuan. However, Hengchi Automobile has always attributed the company’s losses to the fact that it has not yet entered the mass production delivery period, so it cannot recover the upfront investment cost.

In August 2020, Hengchi released six products at one time, covering all levels from A to D, across the coupe, sedan, SUV, MPV, crossover and other market segments, and simultaneously announced its own layout in power batteries, electric drive systems, intelligent networking and autonomous driving.

Entering 2021, Hengda’s car manufacturing business began to accelerate. In February, Hengchi conducted a three-week winter calibration test in Yakeshi, Hulunbuir, and three new models of Hengchi 7, Hengchi 8, and Hengchi 9 were officially released. In March, Hengchi Automobile announced the establishment of a joint venture with Tencent to jointly develop an in-vehicle intelligent operating system with independent intellectual property rights. On March 25, Hengchi Automobile joined hands with Tencent and Baidu to jointly build the H-SMART OS Hengchi Intelligent Networking System, which took one year and 11 months to develop.

In order to make up for its own gap in the automotive industry, Hengchi Automobile has introduced more than 2,000 international top scientific research talents in three years, established the Global Research Institute and the Global Battery Research Institute. Adopting a global integrated research and development model, introducing international advanced technologies, and working with world-class leaders such as Magna and EDAC to jointly develop models.

If it weren’t for the sudden "rout" in the real estate market, Hengchi Automobile should have started its own marketization road earlier. However, it is precisely because of the collapse of the pillar industry that Hengchi Automobile, as the group’s largest investment in recent years and the project closest to marketization, has been regarded by the outside world as the biggest blood bag for Evergrande to stop losses and recover.

Hengchi 5 Single Rider Savior

In January this year, Hengchi Automobile announced that the first car of Hengchi 5 was officially launched, 12 days earlier than originally planned, becoming the first model of Hengchi Automobile to go into mass production. Half a year later, under the pressure of a broken capital chain, Hengchi Automobile officially announced the news of the pre-sale of Hengchi 5 and began to enter the market.

Now that the mass production of Hengchi 5 is offline in the Tianjin factory, it not only breaks the rumors that the Tianjin factory is shut down, but also pushes Hengchi further into the "examination room".

From full category coverage to three years of sharpening a sword, the birth of Hengchi 5 was accompanied by Hengda’s helplessness in the capital chain, but it also demonstrated Hengda’s emphasis on new energy vehicles.

Three years ago, when Xu Jiayin stepped into the automotive industry from real estate as a "little white", few people were optimistic about the future of Hengchi Automobile. Even if it took only one year to bring six concept cars to the stage, the industry still put words such as lack of heritage and sloppiness on the head of Hengchi Automobile.

However, when Hengchi 5 opened the pre-sale, the car circle has undergone a 180 ° change in the wind evaluation of this car. The pre-sale price of 179,000 yuan; the CLTC comprehensive battery life of 602km; the personalized intelligent cockpit design; the L2 + level intelligent driver assistance system; and the blessing of global leading suppliers such as Magna, EDAK, Bosch, etc., accurately cut into the pure electric SUV market positioning and product performance within 200,000 yuan, all showing the determination of Hengchi Automobile to fire the first shot.

　　() F10 data shows that on August 24, 2022 () the main points of the theme have been updated and adjusted:

　　Proposed increase of $1.169 billion to Avita

　　In August 2022, in order to enhance its core competitiveness, strengthen the coordination of industrial chain resources, and accelerate the development of intelligent electric vehicle (SEV) business, Avita Technology, an associate of the company, introduced investors in the Chongqing United Equity Exchange by way of public listing and expansion. Six investors were finally identified. The original shareholders of Avita Technology, Southern Industrial Fund, (), Fujian Mindong, Jiangxi Securities, Chongqing Cheng’an, and NIO waived the right of first refusal. Avita Technology has signed relevant strategic cooperation agreements with the above-mentioned new investors, and plans to carry out strategic cooperation in the fields of sales network support, chip supply guarantee and visual image perception, and intelligent cockpit development to further strengthen the advantages of industrial chain resources. Avita Technology plans to increase its registered capital by 472,241,200 yuan, and Changan Automobile plans to increase its capital by 116,900 yuan. After the completion of this capital increase, the proportion of Avita Technology’s shares held by the company will increase from 39.02% to 40.99%. It is still a joint venture of the company and will continue to be accounted for using the equity method. Based on the financial data of Avita Technology on March 31, 2022, this transaction is expected to reduce the company’s capital reserve by about 100 million yuan, which will not affect the company’s profit and loss.

　　High-end intelligent electric vehicle brand

　　The LUMIN released by the company interprets the new generation of "national boutique scooter" through good-looking appearance, safe configuration and comfortable driving experience. The upcoming C385 is the first mass-produced model of Changan’s new pure electric platform. It realizes soft and hard coupling with forward-looking styling and intelligent technology to meet the needs of users in all scenarios. The company and its partners join hands to deepen cooperation and win-win future, and join hands with Huawei and Ningde Times to release a new high-end intelligent electric vehicle brand – Avita, debuting the first model Avita 11. In 2022, Changan high-end brand Avita will launch the first high-end intelligent electric SUV, dedicated to meeting the needs of automobile consumption upgrade and promoting the transformation of intelligent electric vehicles. It will create leading products from six aspects: styling design, battery life and performance, fast charging, intelligent driving, emotional intelligence and smart ecology.

　　UNI series, CS series new products

　　In 2022, the company released three products of the UNI series. The UNI-V has restored the concept design of the coupe, equipped with the unique electric rear wing of the same class, electric hatchback door, large-size sports tires, and equipped with a new UNI smart driving cabin, high-level intelligent driver assistance system and APA6.0 remote intelligent parking. It aims to give users a unique sense of advanced sports and future technology, redefining "DREAMCAR for young people". The listed UNI-KiDD is the company’s first mass-produced model equipped with the Blue Whale iDD hybrid system. Under NEDC conditions, the pure electric cruising range is 130 kilometers, and it is also equipped with a wealth of intelligent technology configurations to meet the needs of users in a variety of vehicle scenarios. In the second half of the year, another hybrid model will be launched to deepen the hybrid market segment, strengthen its occupation, and accelerate the transition to electrification and electrification. The company’s listed second-generation CS75PLUS is equipped with a new generation of Blue Whale engines, all Aisin 8AT, and is equipped with intelligent W-HUD, IMS intelligent interaction system, APA5.0 remote control valet parking system, IACC full-speed intelligent cruise system, 12.3-inch dual screen and other fully upgraded tomorrow’s intelligence, bringing strong power experience and intelligent travel companionship, dedicated to meeting users’ core demands for compact SUVs. It is expected that two CS series models will be launched in the second half of 2022, which will be continuously optimized through internal and external accessories, performance improvement and intelligent technology configuration upgrades to enhance product competitiveness.

　　The subsidiary plans to introduce capital increase entities such as Ningde Times

　　In November 2021, Avita Technology, a subsidiary of the company, took the asset appraisal report as the basis for pricing, and introduced Ningde Times, Fujian Mindong, Chongqing Chengan, two Jiangxi certificates, Southern Assets, and Southern Industrial Fund as the investment entities of this capital increase and share expansion to participate in the capital increase, and Changan Automobile participated in the capital increase by non-public agreement. The capital increase and share expansion will be carried out in cash, and Changan Automobile plans to increase its capital by 50 million yuan (waiving the right to increase the capital in the same proportion). CATL plans to increase its capital by 769.6 million yuan. After the completion of this capital increase, the registered capital of Avita Technology Company will increase from 288 million yuan to 117,222.26 million yuan. Changan Automobile’s shareholding ratio will be diluted from 95.38% to 39.02%. CATL holds 23.99%. Fujian Mindong holds 5.00%. Chongqing Chengan holds 19.01%. Two Jiangxi Securities hold 1.87%. Southern Assets holds 8.73%. Southern Industrial Fund holds 1.25%. Nio Co., Ltd. (referred to as "NIO") did not participate in the capital increase, and the shareholding ratio will be diluted from 4.62% to 1.13%. Avita Technology Company is committed to building China’s independent high-end national brand and realizing its industrialization. In order to enhance development vitality, improve operational efficiency, accelerate the integration of new energy vehicle industry chain resources, and continuously expand the development space of the industry chain, this capital increase and share expansion involves the introduction of external resources for equity diversification reform, and ultimately realizes the smooth transformation of Avita Technology Company.

　　Smart driving and vehicles to everything

　　The company continues to build intelligent products with leading performance, and the "Beidou Tianshu" plan has been effectively implemented. In 2021, the APA 6.0 remote intelligent parking system will be released, which supports automatic location finding within a range of 30m, remote parking is controlled through mobile phones, and the parking accuracy of small parking spaces has reached the industry’s leading level. Mass-produced AR navigation, four-screen linkage, gesture control, track mode, intelligent welcome and escort, and more than ten industry-leading smart cockpit and intelligent vehicle control functions will bring users an excellent car experience. At the same time, Changan accelerated the construction of intelligent core capabilities of "core device map nuclear cloud network day", established a forward-looking technology research institute to carry out cutting-edge technology research such as chip design, crowdsourced maps, artificial intelligence, etc., and built a Changan automobile intelligent computing center to support intelligent driving and vehicle to everything services. On this basis, the first Changan Automotive Science and Technology Ecological Conference was held, and together with industry partners, the next generation of intelligent vehicle super digital platform SDA will be the first to realize the service-oriented central ring network architecture in 2023.

　　Cooperate with Huawei, Ningde Times, etc. to build smart car brands

　　On November 14, 2020, the company released the "Changan Changan – Changan Automobile Brand Day" activity on the CCTV financial channel. Changan Automobile, Huawei, and Ningde Times announced that they would jointly build a high-end smart car brand and publicly release the intelligent architecture "Ark Architecture" for the first time.

　　Intelligent innovation

　　Changan Automobile has released its intelligent strategy – "Beidou Tianshu" plan, which aims to transform from a traditional automobile manufacturing enterprise to an intelligent travel technology company. With the "4 1" action plan as the driving force, it has opened a new chapter in the transformation of Changan Automobile. Cooperate with Tencent, Huawei, (), etc., to build an intelligent automobile industry alliance. The new CS75 is launched with APA4.0, achieving the first mass production of L2-level intelligent driving in China; the L3-level limited autonomous driving technology has been engineered and entered mass production development. 55 new CS55s are equipped with L3-level autonomous driving technology, completing the world’s "largest autonomous vehicle cruise" and successfully challenging the Guinness World Record. L4-level autonomous driving has achieved the first demonstration operation in China and is in the leading position in the industry.

　　Entering the automotive aftermarket

　　Chongqing Changan Automobile joint stock company, Jilin Province Long-term Industrial Group Co., Ltd., and Nanjing Runli Automotive Parts Co., Ltd. have jointly signed the second brand spare parts joint venture cooperation agreement to establish a new joint venture company. The joint venture company will bring together the superior resources of brands, customers, supply chain, logistics and distribution channels, and provide quality and cost-effective second brand spare parts products and services to long-aged car owners in a market-oriented mechanism to build an automotive service platform and officially enter the automotive aftermarket.

　　Established a shared travel company with Tencent, Alibaba, etc

　　The company signed an agreement in Nanjing to jointly invest and establish a Nanjing Linkage Equity Investment Partnership (Limited Partnership) (tentative name, final name shall be subject to the name approved by the Industrial and Commercial Registration Authority, hereinafter referred to as "Linkage Partnership" or "Partnership") with Ning, FAW, Dongfeng, Tencent, Segali, Ali, Wuxi Feiye, Rongxun, Nanjing Hengchuang and Nanjing Linkage Bank, with a total share of 9.76 billion yuan. Among them, Changan Automobile subscribed 1.60 billion yuan. This partnership only invests in travel companies and does not engage in other businesses. The travel company is jointly funded by the three major central enterprise automobile groups and the leading companies in the Internet, finance, retail and other industries. The project aims to create a networked and shared "smart travel new ecology", providing the public with high-quality, high-safety, high-efficiency travel and a more pleasant lifestyle as the starting point, and is committed to becoming the most trusted travel service enterprise in China. While helping Changan Automobile cultivate new kinetic energy and explore new models, the travel company also plays a positive role in stimulating the traditional vehicle business. It will enrich and improve the Changan automobile ecosystem, enhance Product Research & Development, improve the brand power of Changan Automobile, and help Changan Automobile transform and develop.

　　Intelligent technology, new energy technology

　　Enhanced intelligent labels, APA5.0 with CS75PLUS launched in China, and L4-level autonomous driving based on 5G was put into demonstration operation, becoming the first Chinese brand. The first WeChat car version appeared at the Smart Expo, and joined hands with Tencent to create the "strongest cross-border CP". After 8 years, the global R & D center with a total investment of 4.30 billion was officially put into use, marking the official arrival of the R & D 4.0 era of "open sharing and global collaboration". Significant progress has been made in the financing and development of new energy, and the capital increase and mixed reform of new energy technology companies have been completed. Fuel cell vehicles appeared at the Smart Expo. Release with completely independent intellectual property rights, international first-class, domestic pioneering high-tech products – Changan smart core, fuel cell, battery safety and other core technologies have achieved phased results, new energy technology company UK hydrogen fuel cell technology innovation center inaugurated, the future will focus on hydrogen fuel cell vehicle power system integration and control technology, is building a fuel cell power system platform, new energy products are increasingly abundant, pure electric SUVE-Pro surprise listing, E-Rock debuted at the Guangzhou Auto Show.

　　Intelligent Low Carbon Travel Technology Company

　　The company’s main business covers the R & D, manufacturing and sales of complete vehicles (including passenger cars, commercial vehicles) and the R & D and production of engines. At the same time, the company actively develops new businesses such as mobile travel, automobile life services, new marketing, and power exchange services, and accelerates the exploration of industrial finance, used cars, and other fields, in order to build a more comprehensive industrial ecology and transform into an intelligent low-carbon travel technology company. The company always adheres to the mission of "leading automobile civilization for the benefit of human life", adhering to the concept of "energy conservation, environmental protection, and technological intelligence", vigorously develops new energy and intelligent vehicles, and is committed to leading automobile civilization with technological innovation, and strives to provide customers with high-quality products and services. After years of development, the company now owns Changan Automobile, Auchan Automobile, Kacheng Automobile and other independent car brands, and produces and sells joint venture brand models through joint ventures Changan Ford and Changan Mazda. It has launched a series of classic independent brand models including CS series, Yidong series, UNI, Auchan series, Shenqi series, etc. The joint venture has a new Focus, Forrest, Ruiji, Explorer, Adventurer, Aviator, Onxella, CX-5, CX-30 and other well-known products. At the same time, it has created Yidong EV, Benben E-star, CS55E-Rock and other new energy models, which are well received by the market and consumers.

"Car Market Overview" is a self-media subsidiary of Car Market Story, always focusing on all auto companies at home and abroad.

Recently, we learned from the Qichacha official that on October 20, Avita New Energy Vehicle Technology (Shanghai) Co., Ltd. was established, the legal representative is Ma Xinjie, the registered capital is 10 million yuan, and the business scope includes: auto parts research and development; conference and exhibition services; enterprise management consulting, etc.

Qichacha’s equity penetration shows that the company is 100% controlled by Avita Technology (Chongqing) Co., Ltd., which is a holding company of Changan Automobile (000625) and NIO.

It is worth noting that, according to previous information, Avita Technology will operate completely in the market, operate independently, develop independently, and join hands with Changan Automobile, Huawei, and Ningde Times to create new products. Previously, the expected carrier company for Changan, Huawei, and Ningde Times to jointly build cars is Avita Technology. This new high-end independent brand launched by Changan will run in parallel with the existing Changan brand.

On May 20, 2021, Chongqing Changan Automobile joint stock company (hereinafter referred to as "Changan Automobile" or "Company") holding subsidiary Changan NIO New Energy Vehicle Technology Co., Ltd. has officially changed its name to Avita Technology Co., Ltd. (hereinafter referred to as "Avita Technology"). Avita Technology will be fully market-oriented, operate independently, and develop independently. Together with Changan Automobile, Huawei, and Ningde Times, we will create a world-leading, autonomous and controllable intelligent electric connected vehicle platform (CHN), create a rich range of intelligent vehicle products, and build a "people-car-family" smart life and smart energy ecosystem.

According to the official, the name "Avatar" is taken from the English Avatar, which means virtual avatar in the game or online world. Avatar Technology has given the word a deeper meaning, that is, to create another self in the intelligent parallel world for each user, knowing "you" worries, understanding "you" thinking, and giving "you" what you want. Based on this, Avatar Technology is committed to creating a new generation of intelligent end point beyond the mobile space through future-forward design aesthetics, discreet driving experience and emotional human-machine interaction. Avatar, yourmostemotionalintelligentcompanion.

Avita technology aggregates the superior technologies of Changan Automobile, Huawei and Ningde Times in the fields of R & D and manufacturing, intelligent solutions and energy management ecology, and deeply integrates the strategic resources of the three parties to redefine the future intelligent electric vehicle (SmartElectricVehicle). Huawei will give full play to its ICT technology advantages and jointly build a full value chain of R & D, channels, services, and ecology with Avita Technology to provide users with full-stack smart vehicle solutions and achieve the intelligent level of electric vehicles; Ningde Times, as a power battery provider and new energy solution service provider, empowers Avita Technology with smart electric vehicle power battery technology and jointly creates a safe and convenient energy ecosystem; Changan Automobile will jointly develop the world’s leading intelligent electric connected vehicle platform (CHN) with Avita Technology based on the capabilities of Huawei and Ningde Times.

In fact, the cooperation between Changan and NIO has been in place for nearly 4 years. On April 9, 2017, Changan Automobile and NIO signed a strategic cooperation agreement. Li Bin, founder, chairperson and CEO of NIO, said at the time that the two parties will establish a joint venture company to develop new products (different from JAC’s foundry cooperation). On August 17, 2018, Changan NIO New Energy Vehicle Technology Co., Ltd., a joint venture jointly funded by Changan Automobile and NIO, settled in Nanjing Jiangning Development Zone. Li Bin is the chairperson of Changan NIO, and the vice chairperson is Li Wei, executive vice president of Changan Automobile.

However, since then, the cooperation between Changan and NIO has been delayed. In June 2020, Changan NIO underwent an industrial and commercial change. NIO Li Bin stepped down as the chairperson of the company, and the new chairperson was Tan Benhong, executive vice president of Changan Automobile. Changan Automobile originally held a 50% stake in Changan NIO, but Changan Automobile increased its investment in Changan NIO through cash increases and other means. After the capital increase was completed, Changan Automobile held a total of 95.38% of Changan NIO’s equity, while NIO only held 4.62%. In other words, in the joint venture relationship of Changan NIO, NIO retreated significantly, and Changan Automobile took over.

On November 15, 2020, Changan officially announced that together with two other giants in the automotive industry, Huawei and Ningde Times will jointly create a new high-end smart car brand. In the future, the AB brand will be built based on the CHN architecture (the architecture jointly created by Changan, Huawei, and Ningde Times), and will launch 5 new energy high-end products. The first model may be a high-end pure electric SUV. The product definition of this model is responsible for Changan, equipped with Huawei’s intelligent cockpit platform CDC, autonomous driving domain controller ADC, and some Sandian components.

In the future, AB brand and the existing Changan New Energy will be two independent operating companies, with different product brands and product segments, providing products and services to customers in different market segments. Among them, Changan New Energy is the new energy business bearer of Changan Automobile brand, and AB brand is a high-end intelligent electric vehicle brand jointly created by aggregating the resources of Changan Automobile, Huawei and Ningde Times.