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.

　　[Autohome News] On February 23, 2023, Geely Galaxy, a mid-to-high-end new energy series under the Geely brand, unveiled its mystery. In the future, Geely Galaxy will cover two product series of "intelligent electric hybrid" and "intelligent pure electric", and has a new product image, a new generation of styling design and a new channel ecology. Perhaps seeing this, many question marks have emerged in everyone’s mind. Why did Geely make such a series? How will other products be divided in the future? What products will this series have in the future? What are the competitors? How much will it sell? Where to sell it? How to sell it? Don’t worry, with these questions, you will know all about it in 5 minutes.

More exciting videos are available on the Autohome video platform

Highlights of this article:

1. The new energy market is still the Red Sea, and Galaxy is the stepping stone to Geely’s new era

2. Positioning mid-to-high-end new energy, divided into intelligent electric hybrid L series and intelligent pure electric E series, 7 models will be launched in the future, and the first model (|) will be delivered in the second quarter

3. Introduction to the Galaxy L7 model

4. New channels + new ecology, online and offline service integration

5. Under the new rules of the game, Geely Galaxy may indeed become the "Son of Version"

● Why build a galaxy? – The new energy market is still a red ocean

　　In the past two years, the domestic new energy market has seen explosive growth, and it seems that every manufacturer is launching sub-brands and new series to cope with the electrification tide. In 2022,Sales of new energy vehicles in China reached 5.674 million units (Passenger Federation), an increase of 90% year-on-year.But the penetration rate is only 27.6%, still has a considerable market capacity. Geely’s total sales in 2022 are 1.433 million, new energy vehicle sales are 328,700, and the penetration rate exceeds 30% in many months. Compared with many brands focusing on the new energy market, it is not cheap.

"Haval A07, Haval B07 DHT"

　　Take a look at BYD, which has been "surging" all the way, and then look at the new forces that used to be regarded as "inferior horses". The new energy tide has broken through the hearts of many users. Faced with this situation, traditional car brands have more or less expressed their eagerness to embrace electrification. For example, Great Wall will launch more than 10 new energy models in 2023. For example, SAIC Motor Group has set a sales target of 1.50 million new energy vehicles. Behind the exaggerated numbers is the intense hand-to-hand combat under the new energy tide. Even if we are not in it, we can still feel the tragedy.

"New logo of Geely Galaxy"

　　Therefore, Geely, which has been the sales leader of Chinese auto brands for 5 consecutive years, also seems to need to seek some "explosive points"."Goodfellas."According to the opinion in the column, in the foreseeable future, fuel vehicles may be regarded as the foundation, and new energy is the stepping stone to the next era. Because of this, the arrival of Geely Galaxy, which focuses on the field of new energy, can be said to be inevitable.

● Galaxy’s positioning and product planning – positioning mid-to-high-end, mainly targeting the 15-300,000 price range

"Chen Zheng shows the prototype car sludge model"

　　After the arrival of Geely Galaxy, the products under Geely Group will also usher in a structural reorganization. China Star, Boshi, Bing, and Emgrand will form a "Jixing" product series to continue to stabilize the basic market; Geometry brand will return to Geely brand and form a popular pure electric product series under Geely brand; finally, the Galaxy series will focus on the mid-to-high-end new energy market.The main car market of 15-300,000 yuan.The three product sequences have a clear division of labor, with fuel, entry-level new energy, and mid-to-high-end new energy each performing their respective duties. The future blueprint has emerged.

　　In the future, Geely Galaxy will launch 7 products, including Geely Galaxy intelligent pure electric E series and Geely Galaxy intelligent electric hybrid L series, respectively Geely Galaxy E6/E7/E8 and Geely Galaxy L5/L6/L7/L9, the detailed IPO time of each model is as follows:

　　In the future, intelligent hybrid and intelligent pure electric architectures will be built on their own dedicated platforms, among which Geely Galaxy’s intelligent hybrid architecture will cover A0 to B-level products; intelligent pure electric architectures can cover A-level to D-level products.

　　In addition, Geely’s original "SHIELD Battery Safety System" not only prevents spontaneous combustion of batteries, but also builds a complete set of "no blind spot" safety protection systems based on batteries and integrates architecture, vehicle, intelligent control, and cloud. It can pass 8 shields such as "Architecture Ten Gongge Patent, Vehicle Cage Protection, Fast Charge Safety and Worry-free, BMS3.0’Battery Doctor ‘Intelligent Control System" to ensure the safety of systems such as battery pack Pack and battery module.

　　In terms of thermal efficiency, the new generation of Raytheon hybrid engine B-Plus equipped with Raytheon Hybrid 8848 has achieved a peak thermal efficiency of 44.26% in mass production, and the next generation Raytheon hybrid engine with a thermal efficiency of 46% has been in the verification stage. In terms of performance, Raytheon Hybrid 8848 "three-speed variable frequency electric drive" has evolved again. It is the first intelligent electric drive in the world to achieve P1 + P2 dual motor overclocking drive. The combined power of the two-wheel drive reaches 287kW, and a super performance version with a combined power of 488kW will be released in the future.

● Galaxy L7

　　At the press conference, the Galaxy L7, the first model of the Galaxy series, made its debut and started booking at the same time. The new car will be delivered in the second quarter and will be used as a Torch Relay car for the Hangzhou Asian Games. The new car is a plug-in hybrid SUV model, focusing on long cruising range. In terms of appearance, the Galaxy L7 creates a relatively full shape, with a lot of curves in the front part of the car, and the details are also the mainstream style trend of current new energy vehicles. The side lines use a similar slip-back design, but it is not very inclined, so the head space for the rear row is not affected by the shape.

　　In terms of body size, the length, width and height are 4700mmX1905mmX1685mm, and the wheelbase is 2785mm, which is the size of a compact SUV. It is close to the size of BYD Song PLUS and Honda CR-V. For an ordinary family of three, practicality is guaranteed. In addition, the door does not use the hidden door handle that some new energy brands prefer. From the experience of previous winter tests, this traditional door handle will lose some of the overall feeling of the door, but it is convenient to pull, and it can also reduce the possibility of being frozen to death in extreme environments. The rear of the car adopts a through-type tail light, which is also the most mainstream style at present. The simple rear is clearly layered, and the two-color guard at the bottom makes it more visually eye-catching.

　　The interior is designed with a hug style as a whole. The center console is supplemented by multiple large screens, 10.25-inch meter + 13.2-inch center control screen + 16.2-inch passenger screen + 25.6-inch AR HUD. Four display screens provide rich driving information and entertainment information. The pocket block design makes the front center channel more practical, providing more cup holders, storage space and wireless charging positions.

　　For the most important chip of a smart car, the Galaxy L7 has an 8155 chip, which also allows the Galaxy N OS system to be used for faster and smoother control and improved user experience. The boot speed, application response speed and Keyword Spotting speed are all agile. In the field of intelligent driving, the "heaven and earth integrated" version of Galaxy Smart Driving solution based on Geely Satellite will be launched soon. At present, Galaxy Smart Driving can stop in time in the face of stationary targets when cruising at a high speed of 90km/h; Geely Star Smart Computing Center can simulate 100,000 kilometers of intelligent driving behavior training in 1 day, combined with intelligent network professional test field and actual road test, to meet the L3 global certification standard.

　　Geely’s self-developed centimeter-level satellite high-precision positioning module has passed the vehicle-level certification. Through the integration of Geely satellite communication, navigation, and remote sensing technologies, this technology can achieve accurate positioning and never lose contact. It is expected that in 2025, Geely will complete the network of 72 low-orbit satellites, and Geely Galaxy Smart Drive will achieve global positioning without blind spots. In the future, Geely Galaxy Smart Drive will also take the lead in mass production of leading technologies such as cross-layer memory parking, high-speed emergency antelope obstacle avoidance, and low-speed exploration and crossing.

　　In terms of comfort, in addition to enough space, the co-pilot provides a leg support function, as well as heating, ventilation, massage, physiotherapy and other configurations. In theater mode, the seat automatically reverses to a comfortable angle of 35 degrees, providing a good viewing posture.

　　In terms of power, the new generation of Raytheon hybrid technology is equipped with a 3 DHT Pro variable frequency electric drive, using the P1 + P2 solution, which can not only assist the drive, but also drive independently. In terms of performance, it also has remarkable performance, accelerating from 0 to 100km/h in 7.5 seconds, and in the case of power loss, the official average fuel consumption level can also reach 5.23L/100km.

● How does Geely Galaxy sell? – New channel + new ecology, online and offline service integration

　　As a new mid-to-high-end new energy series, Geely Galaxy will create a new channel ecosystem. Among them, the new channel will have two models of "direct connection to users" and "agent distribution", which will make orders online, make prices more transparent and direct, and avoid the price chaos that once plagued everyone.

　　On the offline side, Geely Galaxy will provide "experience" and "delivery" services, and will lay direct experience stores in cities such as Beijing, Shanghai, Hangzhou and Shenzhen. It is reported that 350-450 experience stores will be established in 2023, and the number of Geely Galaxy experience stores will reach 650 in the future.

　　In addition, Geely will also introduce new user experience and service standards. For example, at the after-sales services level, Geely Galaxy will set 247 new standards; at the same time, Geely Galaxy will also create a new app to open a new channel for users to communicate online, and you can also find interested communities in the app; it is worth mentioning that half of the space in Geely Galaxy’s offline stores will be set aside to provide users with more experience and create a "user space". This user ecosystem seems to be quite popular in the current new energy market. In addition to changing to online services, services also pay more attention to users’ sense of experience and belonging.

● Geely Galaxy’s Prospect Analysis – Can You Really "Look Up at the Galaxy"?

　　The establishment of a new product series often has a clear purpose. Geely has obviously paved the way for Galaxy, and the geometric brand has returned to Geely, focusing on the entry-level mass market, and has entrusted the mid-to-high-end new energy series to Galaxy. Perhaps, just like Dynasty and Ocean Network to BYD, Galaxy not only represents a new product series, but will also become a label existence in the future.

　　In 2022, Geely’s new energy vehicle sales 328,700, compared to 2021 tripled, better than the average growth rate of the industry, without the Galaxy is still the case, with the arrival of the Galaxy, combined with the new energy penetration rate in 2023 or more than 30%, although the new energy track is crowded, but it has left a relatively open space for the Galaxy to play.

　　Of course, from the perspective of the first model launched by Galaxy, the Galaxy L7 is positioned as a compact SUV, with a long range, equipped with a new generation of Raytheon electric hybrid technology, equipped with 3 DHT Pro variable frequency electric drive, and using the P1 + P2 scheme, it can not only assist in driving, but also drive independently. The acceleration from 0 to 100km/h is 7.5 seconds. In the case of power loss, the official average fuel consumption level can also reach 5.23L/100km.

　　Judging from these data, Galaxy, which is positioned as "mid-to-high-end", is not eager to challenge higher-level fields, but starts with the "unavoidable choice" – the compact SUV market. This level is also the most difficult market segment. BYD Song PLUS New Energy, Haval H6 (PHEV version has been launched), Changan CS75 PLUS (intelligent iDD version will be launched soon) and other powerful products are eyeing. Looking at the sales rankings for nearly half a year, the former ace players under overseas brands have almost been squeezed out of the top five. Are overseas brands panicking? Perhaps the news of Toyota’s bZ4X price reduction not long ago is a very objective answer, which is enough to see that the rules of the game in the domestic market have really changed.

　　Using the game as a comparison, each version update will have a corresponding "version of the child" birth, the former strong hero may be reduced to a sewer character, version abandoned child. As a product of new rules and new versions, we seem to have reason to believe that, combined with the latest trends and user preferences in the current market, coupled with Geely’s understanding of the domestic market over the years, Galaxy will definitely follow the trend and show some strength; as for what height can be reached, it is worth looking forward to.

　　Internally, Geely Galaxy seems to be facing some problems as well. Don’t forget that Geely Group also holds hands such as Lynk & Co, Extreme Krypton, Extreme Star, Volvo, and even Lotus. According to the brand positioning and product price range currently given, Geely Galaxy series products are likely to overlap with these brands in the future. At that time, how to form a differentiated style with them? Presumably this is a big question in the hearts of many friends.

"Site map of Geely’s internal communication meeting"

　　In the previous internal communication meeting, I also discussed this issue with manufacturers, and finally came to the conclusion that there are various consumer groups in the market, and different product types and design concepts can be used to attract different audiences. To give a more practical example, when the Lynk & Co or even the JK brand was just born, it also had some price overlap with the products of the Geely brand, but now, these contradictions about price overlap do not seem to have been transferred to the final choice of users. All in all, products at the same price and positioning can win the favor of users with different needs through different design concepts, configuration performance, etc. Therefore, friends who are worried about Geely Galaxy’s "involution" are completely unnecessary.

Editor’s summary:

　　At the end of the article, I would like to say some digressions. Previously, Geely Galaxy released a poster, which triggered a wave of heated discussions. "Galaxy, the starry sky that everyone looks up to", the breadth and depth of Chinese immediately reminded us of the high-end brand Look Up released by BYD before, and then many Chinese brands such as Look Up, Changan Deep Blue, Haval, Lantu, Changan, Dongfeng, etc. released warm-up posters one after another. This wave of collective fighting has gone beyond the scope of marketing, and even made me feel inexplicably moved.

　　In the past, such a scene may have only appeared on those so-called "tall" overseas brands, the most classic of which was the flirting and falling in love and killing of the BBA troika. Now, Chinese brands have also begun to do the same in the new energy market, and instead of arousing users’ resentment, they are viewed with a peaceful and even slightly proud attitude. This not only shows the confidence of the brand, but also seems to represent the rise of a new power and the germination of a new culture. Perhaps, seeing a beautiful and appropriately warm-up poster, many friends will feel a sense of relief that "their children have finally become talents".

　　Finally, a very interesting quote was posted during the hot discussion of the poster: "Whether it is’looking up at the Milky Way ‘,’ the deep blue ‘,’ the vast universe ‘,’ the Milky Way Yaoguang ‘or’the sea of stars’, the Chinese car brands born under the red flag, everyone has a bright future." (Text/Autohome Du Andy)

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

Text | Box Lunch Finance, Liu Xingzhi

Editing | Wang Jing

For more than 30 years, Wang Jianlin, the head of Wanda, has many friends, and even more people claim to be his friends, but there are not many "true friends" who are willing and able to pull him in times of crisis. Especially after 2018, Wang Jianlin’s circle of friends, some are imprisoned, some are too busy to care for themselves, and they still expect him to pull a hand.

If the standard of "true friends" is never to leave, Pony Ma, the founder of Tencent, will definitely be on the list of Wang Jianlin’s circle of friends and rank among the top.

On July 21, the shareholders of Beijing Wanda Investment Co., Ltd. (hereinafter referred to as "Wanda Investment") changed, and 49% of Wanda Investment’s equity was transferred to Shanghai Ruyi Film and Television Production Co., Ltd. (hereinafter referred to as "Shanghai Ruyi").

On the evening of July 23, the details of the transaction emerged. The buyer, China Ruyi (00136.HK), announced that it had entered into an equity transfer agreement on July 20, and the transaction consideration of 49% of the shares was 2.262 billion yuan.

Wanda Investment is the controlling shareholder of Wanda Film. Including this transaction, this is the fifth transfer of equity assets involving Wanda Film this year. Through these transactions, Wanda has cashed out about 7 billion yuan, part of which is used to "step on the point" to repay the debt. The latest news shows that Wanda has transferred the principal and interest funds of 400 million US dollars of bonds due on July 23.

Why should Shanghai Confucianism and Italy send charcoal in a hurry to solve Wanda’s urgent need to repay its debts? The grass snake gray line is hidden in its capital background.

Public information shows that Shanghai Ruyi is a wholly-owned subsidiary of China RuyiEvergrandeAfter several transactions, Tencent is now the controlling shareholder.

At present, the prospect of Wanda’s listing is uncertain, the debt concentration expires, and the selling of assets to cash in can’t help but remind the outside world of six years ago, also under the pressure of debt, Wanda sold off its assets and "broke its arm to survive". After that transformation and privatization, in early 2018, it was Tencent that took the lead, joined JD.com, Sunac, and invested 34 billion yuan in Wanda to "untie" Wanda and support its valuation.

Wang Jianlin was born in the tail of the planned economy, grew up in Sichuan, joined the army in Jilin, and started in Liaoning; Pony Ma grew up in Shenzhen, the bridgehead of reform and opening up. The two people, who are 18 years apart, have very different personalities and experiences. It is in the tide of private economy that they gradually come to the same end.

After taking the lead in investing in Wanda, Wang Jianlin and Pony Ma have been tied to the same boat. From the "Teng Million" cooperation in 2014, to Tencent’s leading investment in 2018, and then to the current delivery of life-saving money, Wanda’s two most dangerous turns, Tencent’s figure has always been around.

"After years of business and wealth, everything has always come to nothing." This is a poem written by Wang Jianlin many years ago. If not for Pony Ma, the metaphor of "everything" coming to nothing may have come true.

01

The first turning point in the lives of 68-year-old Wang Jianlin and 51-year-old Pony Ma both took place in 1989.

In 1986, Wang Jianlin switched from the army to serve as the office director of the Xigang District People’s Government of Dalian City. In 1989, he came to Xigang District Housing Development Company as the general manager, which was the predecessor of Wanda.

Also in 1989, Pony Ma was admitted to Shenzhen University. Shenzhen University did not have the astronomy department that Pony Ma was most interested in, so he settled for the next best thing and entered the computer major of the Department of Electronic Engineering.

From the perspective of the time, the two people were of different ages and backgrounds, and their life paths were very different, so there was no possibility of intersection. But with the vigorous development of the private economy, the two gradually came together on the road to business.

In September 2013, Hurun rich list, Wang Jianlin with 135 billion yuan wealth, more than Zong Qinghou family, the first time to become the Chinese mainland "richest man", this is the first time the real estate boss to get the "richest man" title. On the list, Pony Ma with 62 billion yuan wealth ranked third, when real estate was in full swing, the Internet is in the limelight, the former’s growth rate made other industries look at, the Internet’s growth rate made real estate developers are shocked.

As a commercial real estate leader, Wanda began to feel pressure from e-commerce platforms. Wang Jianlin once said that he "wants to establish an Internet e-commerce website that is different from Taobao and JD.com".

And Tencent, which has a social empire, also wants to make a difference in the field of e-commerce, so in 2014, facing a common opponent, Wang Jianlin and Pony Ma came together as "e-commerce partners".

In 2014, Wang Jianlin introduced Tencent, Baidu, the three giants announced the establishment of Wanda e-commerce company, Wanda Group held 70%, Tencent, Baidu held 15%, and plans to invest in the next five years 20 billion, to build the world’s largest O2O electricity supplier company.

Wang Jianlin’s expectations for this project are not high, and the lineup of "Teng Million" is also luxurious enough, but this seemingly strong and powerful commercial aircraft carrier is unfavorable. After the first phase of 5 billion yuan of funds burned out, Tencent and Baidu announced their withdrawal, and Wanda E-commerce ended hastily.

The failure of the "Teng Million" alliance is not surprising. The three companies seem to be strong, but none of them have e-commerce genes. The experience of the leading party Wanda in traditional commercial real estate has become a shackle for its e-commerce development.

This cooperation ended without success, Wang Jianlin 5 billion bought a lesson, but also harvested the friend of Ma Yun, this friendship will play a key role in the future.

02

In June 2017, a risk investigation letter from the China Banking Regulatory Commission pushed Wanda to the bottom, and Wanda’s six overseas project financing encountered strict control.

Real estate is a high-wire business, and the financing channel is the balance pole held by real estate developers. The two ends of the pole are assets and liabilities. The investigation of the Banking Regulatory Commission has greatly affected Wanda’s financing ability, and Wang Jianlin has to sell assets.

In July 2017, Wanda’s 13 cultural tourism projects and 77 hotels were packaged and sold to Sunac and R & F. Speaking to the media, Wang Jianlin said: "The transfer of the project can greatly reduce the debt of Wanda Commercial and further realize asset-light operation."

The move to sell assets at a low price has made the outside world question Wanda’s capital chain, but from the logic of buying and selling, Wanda sold assets at the same time, but also quickly reduced its liabilities, without hurting its bones. According to the financial report data, Wanda Group’s revenue in 2018 was 2142.8 billion yuan, completing 101.6% of the annual plan.

Wanda was able to escape from this crisis, except for Wang Jianlin’s decisive means of "breaking the wrist of a strong man", the actions of Pony Ma and others were also contributed.

On January 29, 2018, the official website of Wanda Group announced that Tencent Holdings, as the main sponsor, signed an agreement with Sunac, JD.com, Sunac China and Wanda Commercial in Beijing, planning to invest 34 billion yuan to acquire about 14% of the shares held by investors when Wanda Commercial Hong Kong H shares were delisted. According to this calculation, the total valuation of Wanda Commercial exceeded 240 billion ********ch higher than the 196.50 billion yuan at the time of delisting.

For Wang Jianlin, this financing is "three birds with one arrow". First, this financing solves the problem of overseas debt; second, by partnering with Tencent again, Wanda can tell the story of "new consumption" to the outside world; third, the support of the four giants’ real money allows the outside world to re-see Wandai, and Wang Jianlin can accumulate strength and seek listing again.

According to media reports, the deal was personally decided by the "No. 1" of the parties. Wang Jianlin personally called Pony Ma, Zhang Jindong, Sun Hongbin, and Richard Liu. After the four were basically finalized, they were handed over to the investment department to follow the procedure. The transaction took less than half a month from negotiation to finalization.

At that time, Caixin reported that this was a "marriage-style investment", and the two most important parties in the "marriage" were of course Wang Jianlin and Pony Ma.

Although the previous cooperation ended in vain, the degree of attention that Pony Ma attached to this cooperation only increased. In May 2019, the always low-key Pony Ma, surrounded by security and staff, walked into Wanda Plaza in Beijing Fengtai Science and Technology Park.

And Wang Jianlin, who is known as "never shopping", spent 2 hours walking around the Wanda Plaza side by side with Pony Ma. The online and offline "traffic king" is framed in the same frame, which aroused the imagination of the outside world.

03

However, less than a year after the same frame, the COVID-19 pandemic arrived, and both companies were affected. No matter how few of them shared the same frame, the vision of new consumption and smart retail was rarely mentioned again. It was not until the listing of Wanda Commercial Management was blocked and Wanda was once again mired in rumors of a liquidity crisis that Pony Ma’s figure reappeared behind Wang Jianlin.

In 2018, Wanda Commercial renamed itself Wanda Commercial Management and divested its real estate development business. In 2021, Wanda Commercial Management divested its business again, further lightening its assets, and seeking to re-list through its subsidiary Zhuhai Wanda Commercial Management.

In order to promote the listing, Zhuhai Wanda Commercial Management has introduced a strategic financing of up to 38 billion yuan in 2021, and the investor lineup is luxurious, including CITIC, China Merchants Group,Country GardenWait, Tencent is also among them.

However, Zhuhai Wanda Commercial Management has failed three times in a row and submitted its fourth statement on June 28 this year.

The IPO time table has been delayed frequently. In addition to facing the pressure of failing to gamble and repaying tens of billions of investment funds with principal and interest, under the influence of pessimism, Wanda has once again fallen into a liquidity crisis. On June 28, Wanda Commercial Management announced that the registration process of 6 billion yuan corporate bonds previously applied for issuance was suspended, and Fitch, Standard & Poor’s and other institutions have also downgraded Wanda’s rating.

In order to re-prop up the "balance pole", Wang Jianlin had to sell assets again. Since March this year, Wanda’s companies have transferred shares and assets related to Wanda Film five times, cashing out about 7 billion yuan. The latest transaction, the opponent is China’s Confucianism controlled by Tencent, and Tencent’s living water has once again flowed to Wanda.

Of course, this time to help Wanda, not only Ma Yun alone, in July 11th, Wanda investment also 2.173 billion yuan trading consideration to the Oriental wealth controller wife Lu Lili transferred 180 million shares of Wanda Film stock.

In fact, under the accelerated recovery of the entertainment industry, Wanda Film is currently one of the few chips for Wang Jianlin to ease liquidity pressure. IPG China Chief Economist Bai Wenxi told Lunch Finance that Wanda Film is currently one of the listed company targets under Wanda Group that are of good quality and easy to strategically transfer or reduce holdings in exchange for repayment.

In addition to selling cultural assets, in May this year, Wanda also plans to sell a payment license for 1 billion yuan to rescue the emergency. Douyin Zhang Yiming is a potential buyer. At present, the two parties have initially contacted, and the transaction has not yet been settled.

For more than 30 years, Wang Jianlin has had both highs and lows in the market, and he has also been used to the ups and downs of his partners and competitors. Since 2013, Wanda has cooperated with real estate companies such as Sunac, R & F, Vanke, and has also intersected with Internet upstarts such as Baidu, Tencent, and Ali. However, in the two important turns of Wanda, only Tencent has always "never left".

From a business perspective, Wang Jianlin has keenly observed the huge changes brought about by the Internet to business, and Pony Ma also realized that online development must ultimately serve offline, which is the basis for the cooperation between the two. In an article published by CCTV recently, Pony Ma said that "the role of the platform economy in empowering the real economy, promoting technological innovation and exploring the international market is increasingly prominent".

The common goal of the two sides is only the basis for cooperation. At present, Wanda wants to sell assets, and the top Internet companies are the few buyers who have the strength to take over.

Of course, the only buyers who are capable and willing are not Ma Yun. Wang Jianlin’s Moments may welcome new members, such as Zhang Yiming, but under the long-term deep interest binding, Ma Yun may be the most important old friend of Wang Jianlin at present.

References:

"Wang Jianlin’s troubles: the road ahead for Wanda Commercial Management to go public is unknown, and Wanda Film’s equity is constantly being sold" Titanium Media

"Teng Million" broke up, Wanda’s e-commerce road collapsed? "China Net

"Wanda financing breaks the deadlock, leading the four giants to target listing within five years" Caixin

"The four giants’ investment in Wanda Insider: Wang Jianlin communicated by phone one by one, and Ali did not vote against it"

"Exploring the store Wang Jianlin Ma Yun joined hands with the" smart square "traffic king cooperation is not easy" Beijing Business Daily

　 　 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.

    International Online auto channel News: Recently, following the merger of Geely and Volvo’s "official announcement", Geely Automobile announced the new compact SUV Xingyue L under CMA high-end series products to be launched in 2021, which will be equipped with Volvo Drive-E 2.0TD engine — — 2.0TD-T4 EVO and 2.0TD-T5 two Nordic luxury power. This is another "subversive" news brought to the industry by Geely after it announced its name "Xingyue L" at the start of the new year. This new car, which is positioned as a compact SUV and enjoys the reputation of "subversive SUV in China", shows the vitality of everything in early spring.

Geely xingyue l

    It is understood that on the basis of successful cooperation in the past decade, Geely Automobile and Volvo Automobile will play a synergistic role, continue to expand cooperation areas, deepen cooperation in the new four modernizations of automobiles, especially merge powertrain business into a new company in the form of equity merger, focusing on developing a new generation of dual-motor hybrid systems and efficient internal combustion engines, which are of the same origin as the world and fully empower Geely brand models including Xingyue L.

Geely and Volvo merge

    As the flagship SUV model based on CMA super matrix structure jointly developed by Geely Automobile and Volvo Automobile, the 2.0TD engine of Xingyue L is the high-end power product of Volvo Drive-E — — VEP4 inline four-cylinder all-aluminum turbocharged mid-range direct injection gasoline engine takes into account the high performance of luxury cars and the economy and energy saving of A-class SUVs, and completely subverts the product value of strong joint venture brands. The engine is made of all-aluminum and has obvious advantages in light weight, low fuel consumption and NVH. It has won the "Top Ten Engines of Ward" for three years in a row, and has been widely used in Volvo XC90, Volvo S90, Lectra 03, Lectra 03+,Lectra 05 and other models, and its global cumulative sales have exceeded one million. In addition, relying on the intergenerational leading "electronic and electrical architecture", the Drive-E engine has a future-oriented electrification design concept, which also means that the Drive-E engine has more room for intelligent evolution and can continuously create more extreme driving experience for users.

Drive-E 2.0TD engine

    The data shows that the 2.0TD engine of the whole system of Xingyue L has two versions of medium and high power. The medium power version has a maximum power of 160kW and a maximum torque of 325 N m. The transmission system is matched with a 7-speed wet DCT gearbox, and the maximum transmission efficiency can reach 97.2%. This gearbox has high transmission efficiency and strong economy, and is well-known in shifting logic and speed, fuel economy and other aspects. It has shipped over one million vehicles worldwide and its quality is stable and reliable. The high-power version has a maximum power of 175kW and a maximum torque of 350N·m, matching the world-leading Aisin 8AT gearbox. Aisin 8AT gearbox has many advantages, such as high reliability, smooth shifting, light weight, low noise and small vibration. At present, it is mostly used in many ultra-luxury models such as Porsche Cayenne and Volkswagen Touareg, and its market share ranks first in the world. The two sets of power combinations are perfectly matched. After full market verification, the powertrain of Xingyue L far exceeds the mainstream SUVs of strong joint venture brands such as Volkswagen Tiguan L, Honda CR-V and Toyota RAV4 Rongfang in terms of maximum power and maximum torque.

Drive-E 2.0TD engine

    As a Nordic luxury power, this 2.0TD engine is Volvo’s manufacturing standard, luxurious technology, micron factory, world quality, mature and reliable, powerful, efficient and fuel-saving, achieving 2.0T power, with only 1.5T fuel consumption. It also has a unique supercharging mode, with a wide peak torque burst range of 1800~4500 rpm. Because the engine uses a low inertia turbocharger, when the engine speed reaches 1000rpm, the turbine can intervene to eliminate the turbine hysteresis and improve the response speed. The maximum speed of the turbocharger can reach 240000rpm, and the power response is rapid, so that the engine can provide more sufficient power reserve in the middle and high speed range.

    It is worth mentioning that this Drive-E engine is not only mounted on luxury models such as Volvo XC90, but also the only mass-produced product that has been tested by the track and is closest to the racing engine. As the first car under CMA modular architecture — — Lectra 03 was equipped with this engine and won the first "World Champion" of China Automobile in WTCR’s world-class events. It has the same origin with the world and has been tested by the track, which fully verified the reliable quality and ultimate performance of this engine in many aspects.

Geely xingyue l

    Judging from the published product information, the high performance, high intelligence and high value of Xingyue L have become a new emboldened force to subvert the market structure of joint venture SUV. With the merger of Geely and Volvo and the establishment of a new company for the merger of powertrain business, the products of Geely and Volvo will continue to be empowered in the future. Coupled with the advanced technology of CMA Super Matrix, Xingyue L will not only become another "cow" of Geely’s global SUV strategy, but also represent China Auto and mainstream joint venture brands to compete in the SUV market. (Source: Geely Automobile)

After watching the movie "Changan Fighting Demons", some audience members exclaimed: "My God! My youth is back! Why are so many familiar faces and old faces appearing one by one." The main content of the movie’s story is what the title tells everyone – in Changan City, Changan goes to fend off demons. Li Changan, the little chef who accidentally got the artifact, finally saved the people of Changan City after continuous struggle and test.

The actor who plays the male lead, Li Changan, is the actor Bao Jianfeng, whom the audience has not seen for a long time. Speaking of this handsome and handsome actor, it is rare that he has ever starred in any film and television dramas. Previously, he has also starred in many classics that impressed many audiences in their childhood, such as "The Supreme Beauty" and "See Another Curtain of Dreams". Although he only starred as the second male in these dramas, his appearance has always been very online, which does not prevent him from becoming one of the childhood memories of the audience.

There is also Sun Yaowei, who played the villain, who was once recognized by the Hong Kong media as one of the four little kings. "Oolong Breaking Through Love" and "Princess Huaiyu" are also precious childhood memories for many people. In addition, there are veteran actors such as Luo Jiaying and Wu Mengda, who do not need to list their works. As soon as they see their faces, the audience will understand them all.

This made one wonder why this movie attracted so many veteran actors.

The first reason is that one of the directors of this film is Li Lichi, who has worked with Zhou Xingchi many times. His films such as "King of Comedy", "God of Cookery", "Shaolin Football", "Tang Bohu Dian Qiuxiang" and "Domestic Lingling Paint" are all well received and well received. Therefore, we are not at all surprised that there are supporting roles in Chow Xingchi’s previous films, such as Wu Mengda’s appearance.

Secondly, it is because the characters in the script can attract them and make them feel that the role is tailor-made for them, or that the role is an experience they have never had before, that they are willing to play.

Take the nearly 70-year-old Wu Mengda, Uncle Da, for example, the character he plays is willing to self-destruct his cultivation for the common people in the end, thus saving the world. Such a profound sense of human nature cannot be easily brought to the audience, but only Uncle Da plays, the audience can feel full of true feelings. When Wu Mengda appears in the movie, it is still what we remember. It seems that he is an old demon suppressor with profound Taoism, who has "exquisite" words and deeds, and eating a shabu meat hot pot is also different, but occasionally he will drop the chain, resulting in a series of laughs, and finally played a decisive role at a critical moment. Although it is Wu Mengda’s usual routine and setting, it still reminds the audience of the memories of that year. Sure enough, a classic is a classic, and only Uncle Da can bring us this feeling.

Of course, in addition to the supporting role blessed by Wu Mengda, which brought the audience a sincere humanity, this movie is a rare plot in which the protagonist hangs up at the end. The heroine committed suicide for love, sacrificed herself, and sacrificed everything for peace. The movie goes smoothly, and the protagonist sacrifices himself naturally as the plot develops. Compared with the cheap means of forcibly earning tears, it reflects the depth of human nature that the screenwriter pays attention to when polishing the script.

Li Changan, the male protagonist who can make the heroine willing to sacrifice himself for love, is an ordinary little chef. For love, he became a demon suppressor under various coincidences, and wanted to prove himself. Such characters can be seen everywhere in the Jin Yong film and television dramas we have seen before. The little character wears the protagonist’s halo, takes the golden finger, and has been hanging all the way since then, constantly upgrading and fighting monsters, and finally laying down the boss, marrying Bai Fumei, and reaching the peak of life. Although such stories are old-fashioned, but in good conscience, the audience sometimes likes such stories. After all, the Chinese New Year is approaching, and no one wants to add blockages to their hearts. This is the plot that everyone likes to hear.

Moreover, this did not mean that the male protagonist was really useless, relying entirely on the protagonist’s aura. In fact, many times the male protagonist’s meticulous intelligence was hidden in every corner of the plot, laying the groundwork for his future success, and it would not make people feel that he could become the "only" to save the world.

For many audiences, some old actors are indeed no longer seen. Now that they can come out and make a new movie, it is nothing more than allowing them to meet the characters and books that really suit them, so that they have the opportunity to show their faces. Therefore, audiences who want to relive their old dreams can try to see if this movie can still bring back the feeling they once remembered. Text/Moon Arc

Andy Lau

　　Andy Lau attended the opening ceremony of the "Andy Lau Life Education Activity Center" on November 9. He said that he had donated 2 million funds from charitable funds earlier to appeal to young people to stay away from drugs and instill correct "sexual knowledge".　

　　Andy Lau pointed out that today’s young people have a lot of freedom and are not closely related to their parents. When asked about the discipline of children, Andy Lau, who is already a father, will accommodate children? He smiled and asked back: "Did I say something wrong, I mean the general society. I dare not say, if I am like this, everyone will remind me."　

　　Andy Lau said that his daughter was still young and did not expect to be severely disciplined, and that "sex education" may be taught by himself or his wife after going to the center for classes. When asked if it was difficult to ask his daughter, Andy Lau pointed out that the media questions were difficult to answer and wanted to go back to study. When asked if he would take his daughter to class, Andy Lau pointed out that he was always busy with work and said he would not answer his daughter’s affairs.　

　　Andy Lau pointed out that when he was a child in a Buddhist school, no one taught "sexual knowledge", but now the world has changed, and programs about "sexual knowledge" can also be seen on TV. In addition, Andy Lau did not respond to the rumor that Liu’s father bought supplements for him to nourish his body and chase his son, emphasizing that he usually takes vitamin supplements. He said: "It’s good that I know the truth, I don’t answer true or false, otherwise next time there is a real report, I will definitely admit it."

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