[car home Industry] Recently, the news that Celeste Huawei has stopped production of SF5 has been widely circulated. Many users said that they had been told by offline stores that (|) no longer accepted reservations. Not long ago, AITO, a high-end new energy brand jointly built by Huawei and Celeste, was released, and the first model of the new brand was listed on the market. This caused concern about the fate of Cyrus.

　　"The Celestial brand will not withdraw from the market. As long as users have demand, we will produce and deliver it." After an exclusive conversation with Zhou Lin, executive deputy general manager of Jin Kang Celeste Science and Technology Center and general manager of product line, car home got this definite answer.

　　In the face of the constantly fermenting public opinion, Cyrus recently posted on its official social platform that "Cyrus SF5 will continue to accept user orders." Despite the official clarification, with the new brand AITO, the future development fate of the Celeste brand is worrying. Since the announcement of its entry into the automobile industry, Huawei has always been accompanied by controversy, and the future of Cyrus, which is closest to Huawei, naturally concerns the industry.

"Zhou Lin, Executive Deputy General Manager and General Manager of Product Line of Jin Kang Sailisi Science and Technology Center"

■Cyrus will not disappear.

　　Sailis SF5 is the first model that Xiaokang (parent company of Sailis) cooperates with Huawei. When it came out in April, 2021, it was rumored that the order number of Celestial was refreshed several times: "The order number was broken by 3,000 vehicles in two days" and "the national order number exceeded 10,000 vehicles in one month". It is based on the high attention at the initial stage of the release that the outside world has high expectations for the sales volume of Sellers SF5 in the terminal.

　　According to the latest data of the Federation, the sales volume of Sailis SF5 in 2021 (April-November) is only 7080 vehicles. According to car home, it is partly because of the slow delivery. Due to Huawei’s high technical requirements, the running-in of quality control between the two parties has a certain impact on the climbing of production capacity.

"Source: Federation; Watchmaking: car home Industry Group "

　　"In this process, Huawei applied some concepts in the field of mobile phones and ICT, and provided more information on how to complete product quality control standards completely." Zhou Lin said, "A large number of mobile phones need to ensure complete and consistent quality standards, and the number of them on the market far exceeds that of cars, so Huawei’s quality control standards are more detailed than cars."

　　As for why the news that Celeste SF5 stopped production came out, Zhou Lin attributed it to the fact that the promotion of new brand models needed to be tilted in resources, which caused some misunderstanding to the outside world. "Due to the shortage of chips, due to the consideration of ensuring the timeliness of user delivery, the reservation will not be accepted for a few days, avoiding that the order cycle will take two or three months or longer to deliver, and users may complain. Now, with the solution of this problem, the reservation channel has been reopened."

　　Car home found on Celestial App that at present, Celestial Huawei can still place an order normally, and users can choose 1000 yuan’s intentional deposit or 10,000 yuan.

　　In fact, the negative emotions of Celestial SF5 users stem from Celestial’s closure of direct stores and the "separation" of Huawei brand from SF5. After all, Celestial SF5 withdrew from all the experience centers of Huawei overnight after its appearance, and the posters in the store have been switched from Celestial Huawei’s smart selection SF5 to AITO Media M5. When car home visited the Shanghai Sailisi direct store, he also found that the store was being rebuilt or even closed. The sales said, "We have moved to the AITO user center, and the pre-sales and after-sales are integrated."

"Photo by car home: The changes before and after a Celeste store in Shanghai"

　　It is not uncommon to complete the model change and upgrade within one year in the current technical iteration of smart electric vehicles. Even the new force of "Wei Xiaoli" can’t avoid the pit of complaints, and old users often feel that they have been "cut leeks". However, in just eight months, it is the first time that a newly established brand has switched to another brand.

　　In order to appease the old users, Sailis posted on its official social platform on January 5, "For the users who have already delivered, Sailis promised to upgrade the lifetime warranty of the whole vehicle and range extender in addition to the 8-year/160,000-kilometer warranty of the three-power system promised earlier, and the first owner can get an additional discount of 10,000 yuan on the basis of the rights and interests of the schedule within four years." However, the owner of Celeste SF5 needs to go to AITO brand store for after-sales maintenance.

　　Zhou Lin also clearly told car home, "Sailis is still Sailis, and AITO is a brand-new high-end smart car brand with the high assistance of Huawei. The two brands will continue to enrich their product matrix and new models will come out constantly. This is a product pedigree evolved under two brands of an enterprise."

　　It is expected that at the end of February this year, the M5 will start the delivery of the first car owners. Regarding the follow-up vehicle planning of AITO brand, Zhou Lin revealed, "It is expected that a new large SUV will be launched at the end of the second quarter or the beginning of the third quarter in 2022, and it can be delivered by the end of this year. Since then, there will be a pure electric version of the M5. At the same time, new models launched in 2023 are also being prepared in an orderly manner. "

■Competition between Cyrus and AITO brand?

　　Although Celestial’s response put an end to the rumors of the suspension of production of SF5, it did not completely dispel the doubts about the future direction of Celestial SF5 and even the brand.

　　The insiders believe that Huawei has shifted its focus to the newly listed model M5, and stopping SF5 is a timely stop loss in a sense. However, some analysts pointed out that there are some differences in the positioning, selling prices and target groups of the two models, which may be complementary.

　　After the official listing of M5, some potential consumers were diverted to M5 on a large scale under the guidance of sales due to the temporary suspension of sales of Celestial SF.

　　Gwan Chin (a pseudonym), a user around car home, bought the SF5 of Celeste Huawei Smart Choice in early December. Because the sales promised to deliver the car in one week, Gwan Chin sold the gas car at home. Unexpectedly, after waiting for two weeks, the sales told him that the car had been discontinued and recommended him to add money to buy a new brand M5.

　　According to the official, M5 has been on the market for three days, and the large order has exceeded 2,000 units. Will Sellers SF5 be substantially marginalized by the market?

　　From the perspective of product strength, the M5 of AITO is indeed remarkable. Among them, Huawei’s HarmonyOS intelligent cockpit is the biggest highlight of the M5. Only with the opening of HarmonyOS system, will this advantage be leveled by more models equipped with HarmonyOS smart cockpit in the future? In Zhou Lin’s view, AITO has taken the first-Mover advantage at the time node.

　　"It was originally planned that the mass production time of Huawei’s HarmonyOS smart cockpit product was September 2022. With the deep cooperation between Huawei and Celeste, this product can be mass-produced about one year in advance. At present, the HarmonyOS smart cockpit mentioned by friends on the market is not a complete cockpit concept, similar to the cooperation mode of the traditional car Tier 1. "

　　In the mode of cooperation, Huawei’s deep participation has obviously gone far beyond other automobile projects. If Cyrus SF5 is Huawei’s adopted son, then the world M5 is more like Huawei’s own son.

　　Nowadays, Huawei has put more thoughts into the pre-planning and product design of AITO brand, even into product marketing and factory transformation. Especially in the research and development and adaptation of intelligent cockpit in HarmonyOS, Huawei has devoted more human resources.

　　"Since March this year, the Huawei team has gradually intervened in various workshops and links, including the R&D team. At present, there are four or five hundred people." Zhou Lin revealed.

　　As for whether the follow-up Sailis can only use its own channels, there is also uncertainty about whether it can re-enter Huawei’s intelligent car selection system. After all, unlike other auto companies’ direct stores, Huawei has limited area allocated for exhibition cars. With the release of the second new model of AITO this year, how much resources can Huawei give to Celeste? How to avoid internal competition among brands is a problem that Cyrus must think about at the moment when various car companies are grabbing the window period of smart electric vehicles.

　　"We give the choice to the users," Zhou Lin said frankly. "Celeste and AITO brands will have their own brand positioning and target customer groups, and the two brands will be differentiated. At present, there is only one model under each brand, and the system is not fully established. It will be gradually improved in the later stage."

■Xiaokang doesn’t want to just be a foundry.

　　Under the concern of where the Celeste brand will go, the outside world also believes that Huawei will "build a car" by taking advantage of the factory and qualification of Xiaokang shares.

　　Today’s Huawei, although verbally claiming "no cars", has indirectly declared its series layout and actions that Huawei does not only want to be limited to Bosch in the era of smart electric vehicles.

　　On December 23, 2021, at Huawei’s flagship new product launch conference in winter, Huawei walked to the stage for the first time from behind the scenes of the automobile industry. Yu Chengdong said apologetically that he had caught a cold, but he spent more than 30,000 words to introduce the M5, but Cyrus never appeared in front of the stage.

　　Yu Chengdong said, "AITO M5 integrates Huawei’s industrial design, engineering technology, system software and HarmonyOS’s ecological advantages." Selis is rarely mentioned between the lines, and people in the industry feel that this car is infinitely close to Huawei’s "pro-son" except for not hanging Huawei’s logo.

　　"But this does not mean that Xiaokang has become a Huawei foundry." Zhou Lin emphasized that with Huawei’s help, AITO’s first model, the M5, was manufactured into the whole value chain of users’ cars, and Cyrus was responsible for R&D, manufacturing, delivery, service and creating the whole life cycle car experience. Huawei is deeply involved in product definition, quality control and channel sales. The two sides give play to each other’s strengths.

　　"When the smart ecology collides with the automobile industry, there will be many new explorations and ways." At present, Huawei’s cooperation with car companies has defined two modes: First, Huawei Inside mode. At present, Huawei provides autonomous driving solutions to three cooperative car companies, namely BAIC, Changan and Guangzhou Automobile, to support them to build their own sub-brands; Second, Huawei’s BU business provides parts and solutions to car companies.

　　AITO M5 is a brand-new cooperation mode, which is independent of the above two modes: Huawei is not only a component supplier, but also the industrial design team of Huawei BU.

　　"If someone says that we are a foundry, why doesn’t Huawei buy a factory itself?" In the conversation, I can feel the injustice in Zhou Lin’s heart. "Huawei originally made mobile phones, but it didn’t know much about the automotive field. The design standards of automobiles have always been dominated by us, but Huawei’s specialties in the ICT field, such as communication and cockpit information security, will be deeply dominant."

　　In Zhou Lin’s view, in addition to Huawei’s empowerment, Cyrus also has its own core technology, which is more focused on the research and development of new energy technologies and manufacturing quality (five boutique platforms+core three-power technology+Industry 4.0 smart factory). If the M5 can maintain its leading position in the market, it is not the strength of a single product point, but the joint efforts of both parties to open the era of smart cars for users, which is the core that distinguishes it from other models.

　　Undoubtedly, Cyrus’ initial intention is to use Huawei to improve his brand image. Before the cooperation with Huawei, the industry knew little about Cyrus. After taking the "express train" of Huawei, the share price of the parent company of Cyrus Xiaokang soared from 17 yuan/share in early 2020 to the highest 83 yuan/share.

　　However, after the release of M5, the capital market quickly gave feedback to Xiaokang shares: it fell more than 7% that day and fell for two consecutive days, then continued to fall, and closed at 52.56 yuan/share on January 7. Huawei still spends a lot of energy and resources on the new car of AITO brand, but Cyrus is busy with the production and after-sales of SF5.

　　Will Cyrus reconsider its cooperation with Huawei? The insiders think it is difficult to give an answer. "Objectively speaking, the cooperation with Huawei has brought a high degree of attention to Xiaokang and also brought a sharp rise in the stock price." The data shows that in the first three quarters of 2021, the company achieved a total operating income of 11.45 billion yuan, a year-on-year increase of 24%, but the net profit returned to the mother was-1.083 billion yuan, a year-on-year decrease of 49%.

　　In-depth cooperation with Huawei can almost be said to be the only option for Cyrus at present. Xiaokang also stressed at the investment exchange meeting on January 7 that "the cross-border cooperation between the company and Huawei is in-depth and successful, and the two sides have invested heavily, and there is no reason for not cooperating."

　　At present, it is a top priority for Cyrus to cooperate well with Huawei and try to polish products and make delivery. At the AITO brand launch conference, Sailis officially put forward a slogan that seems a bit difficult now-to become the TOP3 of the global new energy vehicle within five years. In Zhou Lin’s view, with the advantages of both parties and the continuous optimization of the new product system, we can reach the breakthrough level of the sales model. "Let everything go to time!" (Text/car home Peng Fei)

After successively transferring the trademarks of "Zhijie" and "Enjoy the World", Huawei transferred the trademark of "Wenjie" to Cyrus. On July 2nd, the announcement issued by Cyrus showed that Cyrus planned to acquire all kinds of "Jiejie" and other related trademark rights and application rights and related design patents held by Huawei in the world, with a total purchase price of 2.5 billion yuan.

This move by Huawei and Cyrus not only aroused widespread concern in the industry, but also further clarified Huawei’s role positioning and development direction in the field of smart cars. How can Huawei, which insists on "not making cars", help car companies "sell good cars"?

The audience understands the related models of Huawei AITO. (Image courtesy of CNSPHOTO)

Cyrus bought the trademark "Wen Jie"

The announcement issued by Sailis shows that Sailis Automobile Co., Ltd., the holding subsidiary of the company, intends to acquire 919 registered or pending series of text and graphic trademarks and 44 related design patents held by Huawei Technologies Co., Ltd. and its related parties, with a total purchase price of 2.5 billion yuan.

"This transaction will not affect the development of joint business between the two parties, and the two sides will further deepen the cooperative relationship." Cyrus said that based on the consistency of product and brand market cognition, the underlying assets related to this transaction will be dedicated to the joint business of both parties.

Since the cross-border cooperation in 2021, the AITO series jointly built by Cyrus and Huawei has gained wide attention in the market, and has successively launched models such as M5, M7 and M9. According to the latest sales data, in June, the total delivery volume of AITO industry reached 42,800 units, reaching a new high.

Guo Tao, an angel investor and a senior artificial intelligence expert, told the China Business Daily reporter that Celis gained brand autonomy by acquiring trademarks, which helped to unify brand image and marketing and enhance market competitiveness; This move enables Cyrus to develop and sell related products more freely and increase its market share. At the same time, the existing popularity and influence of the "Wen Jie" brand will bring long-term value to Cyrus.

Huawei successively transferred the trademark "Jie"

Huawei had successively transferred the trademarks of "Zhijie" and "Enjoy the World" before Cyrus got the trademark of "Wenjie".

According to Tianyancha’s intellectual property information, in May, Huawei Technologies Co., Ltd. transferred its registered trademark of "Enjoy the World" to Beijing New Energy Automobile Co., Ltd. According to the information, Huawei applied for the trademark in May 2023 and completed the registration in November of the same year.

At the beginning of June, Huawei Technologies Co., Ltd. transferred its two registered "Zhijie" trademarks to Chery Automobile Co., Ltd. Huawei applied for the above trademarks in October 2013 and September 2019, and completed the registration in April 2015 and April 2020 respectively.

China Business Daily reporter learned that since 2023, Huawei has successively applied for a series of trademarks named "Jie", such as Zhijie, Reading Jie, Youjie, Haojie, Hejie and Aojie.

Huawei publicly responded: "Huawei has always insisted on not building cars, but using the leading intelligent networked automobile technology to continue to help car companies build and sell good cars. Huawei will continue to work with car companies to create excellent smart car products for users and provide the ultimate smart travel experience. "

Stick to the concept of "no car"

At present, Huawei’s smart car business has three cooperation modes with automobile manufacturers, namely, standard parts supply mode, full-stack solution mode and smart car selection cooperation mode. Among them, Changan Automobile cooperated with Huawei by adopting the full-stack solution mode, and companies such as Cyrus, Chery, BAIC and JAC chose the smart car selection mode. Under the smart car selection mode, Huawei is deeply involved in product definition, design, research and development and even production, and is responsible for product marketing.

In November, 2023, Huawei officially released "HarmonyOS Zhixing", an ecological alliance of smart car technology in HarmonyOS, marking the upgrading of Huawei’s smart car selection model.

At present, HarmonyOS Zhixing owns brands such as asking, intelligence and enjoyment. In the future, HarmonyOS Zhixing will also welcome the proud brand built with Jianghuai, and the first model is expected to be launched in 2025.

According to the sales data published by HarmonyOS Zhixing, in the first half of 2024, HarmonyOS Zhixing delivered a total of 194,200 vehicles, of which HarmonyOS Zhixing delivered 46,100 vehicles in June.

Guo Tao believes that Huawei adheres to the principle of "no cars", concentrates on consolidating its role as an intelligent networked automobile technology provider by transferring trademarks, and clarifies the business model of cooperation with automobile enterprises, which not only highlights Huawei’s technical strength in the field of smart cars, but also demonstrates its insight and adaptability to the development trend of the industry. (Reporter Lei Yuxin)

South Capital Center of Jinzhengyan-Interpretation of Financial Report Yunye/Author Ying Wei/Risk Control

At present, the discount integration of snack industry is accelerating, and the scale effect is gradually emerging. Looking back on the listing of Liangpin Shop Co., Ltd., a well-known snack manufacturer (hereinafter referred to as "Liangpin Shop"), on February 24, 2020, Liangpin Shop was successfully listed at an issue price of 11.9 yuan/share. On July 15th of the same year, the share price of Liangpin Store reached its peak, which was 85.22 yuan/share. As of January 11th, 2024, the closing price was 19.81 yuan/share, and the share price of Liangpin Store showed a downward trend.

Just one year after listing, the first round of reduction plan was implemented just after the lifting of the ban on the shares of the promoters of Liangpin Store, and 456 million yuan was cashed out. During this reduction period, the share price of Liangpin Store went down, and Liangpin Store bought back shares on bargain hunting to implement the employee stock ownership plan. Since then, its shareholders have frequently reduced their holdings, and there are also real controllers in the ranks of reduction. During the period when relevant shareholders reduce their holdings, the total market value of good shops may evaporate by tens of billions of yuan.

It is worth mentioning that Liangpin Shop claims to expand its business by investing in snack-selling "track" companies. However, in only half a year, it sold all the underlying shares and gained an investment income of about 60 million yuan. In the first three quarters of 2023, the performance of good shops grew negatively year-on-year. In addition, the good shop boasts itself as "the first share of high-end snacks", but its gross profit margin is not as good as that of its peers. On the other hand, the draft employee stock ownership plan of Liangpin Store was hastily revised one day after it was published. The stock price of employees was adjusted from 9.9 yuan to 16.7 yuan per share, and the share payment fee was reduced by more than 20 million yuan.

According to public information, on February 24, 2020, the good shop was officially listed on the main board of the Shanghai Stock Exchange.

It is worth noting that just one year after Liangpin Store landed in the capital market, its shareholders holding more than 5% of shares "threw out" the first round of reduction plan.

On February 27th, 2021, Liangpin Store issued the Announcement of Shareholder’s Shareholding Reduction Plan. The shareholders of Liangpin Store are Zhuhai Gaoying Tianda Equity Investment Management Center (Limited Partnership) (hereinafter referred to as "Zhuhai Gaoying"), HH LPPZ(HK)Holdings Limited (hereinafter referred to as "Hong Kong Gaoying") and Ningbo Gaoying Zhi. These shares are all derived from the shares held by Liangpin Store before its IPO.

According to the Announcement of Shareholder’s Shareholding Reduction Results signed by Liangpin Store on August 28th, 2021, due to their own capital needs, Zhuhai Gaoyou, Hong Kong Gaoyou and Ningbo Gaoyou (hereinafter collectively referred to as "Gaoyou Capital") plan to start from March 2021.The total number of shares of the good shop reduced by centralized bidding from February 22nd to August 26th, 2021 and by block trading or agreement transfer from March 4th, 2021 to August 26th, 2021 shall not exceed 24,060,000 shares, which shall not exceed 6% of the total share capital.

As of August 26th, 2021, when the planned reduction time expired, the shareholder Gao Ying Capital reduced its holdings of 10,776,494 shares of Liangpin Store by means of block trading and centralized bidding, accounting for 2.69% of the total share capital.

The announcement shows thatThe reduction price of Gaoyan Capital this time is 33.07-53.19 yuan/share., reducing the total amount by 456 million yuan.

After the implementation of this reduction plan, Gaoling Capital holds 36,023,777 shares of Liangpin Store, accounting for 8.98% of the total share capital of Liangpin Store at present.

From the time point of view, on February 27, 2021, Liangpin Store announced the first round of shareholding reduction plan of shareholder Gaoying Capital. At this time, Liangpin Store has just been listed for one year, and Gaochun Capital, as a shareholder holding more than 5%, has just lifted the ban.

During the period of Gaochun Capital’s reduction, the stock price of Liangpin Store fluctuated and fell.

According to the data of Oriental Fortune Choice, from February 27th, 2021, the announcement date of Gaoyan Capital Reduction Plan to August 26th, 2021, the stock price of Liangpin Store reached the highest value of 61.71 yuan/share on March 2nd, 2021, and the closing price on that day was 60 yuan/share, and the lowest value was 31.63 yuan/share on July 28th, 2021.

By July, 2021, the first reduction plan of shareholder Gaoyan Capital entered the "end". Compared with the date of the announcement of the reduction plan, the share price of Liangpin Store was close to "waist cut", and at this time Liangpin Store announced the share repurchase plan.

According to the Announcement on Share Repurchase by Centralized Bidding signed by Liangpin Store on July 7, 2021, Liangpin Store held the sixth meeting of the second board of directors and the sixth meeting of the second board of supervisors on July 6, 2021, and reviewed and approved the Proposal on Share Repurchase by Centralized Bidding, agreeing that the company should use its own funds not less than 75 million yuan and not more than 150 million yuan. Buy back the company’s shares by centralized competitive bidding, the repurchase price shall not exceed 69.85 yuan/share (including 69.85 yuan/share), and the repurchase period shall be within 6 months from the date when the board of directors deliberated and passed the share repurchase plan.

The purpose of repurchase is to implement the equity incentive plan or employee stock ownership plan.

According to the Announcement on the Expiration of Share Repurchase Term and the Results of Repurchase Implementation signed by Liangpin Store on January 6, 2022, as of January 5, 2022, Liangpin Store has repurchased 3,016,600 shares through centralized bidding, accounting for 0.75% of the total share capital of Liangpin Store. The highest price purchased is 35 yuan/share, and the lowest price is 31.35 yuan/share.

That is, from July 6, 2021 to January 5, 2022, the share repurchase price of the good shop was 31.35-35 yuan/share.

Compared with the first reduction price range of shareholder Gaoyan Capital, the stock repurchase price of good shops may be at a low level.

As mentioned above, just one year after the listing of Liangpin Store, Gaochun Capital, as a shareholder holding more than 5%, reduced its holdings and cashed in 456 million yuan. In fact, since then, Gaochun Capital has continued to reduce its holdings. Not only that, the second largest shareholder and actual controller of Liangpin Store also took turns to reduce their holdings.

On August 26, 2021, Gaochun Capital completed the first reduction plan for good shops. Less than two months later, Gaochun Capital "stepped into" the second round of reduction plan.

According to the Announcement on the Results of Shareholder’s Shareholding Reduction signed by Liangpin Store on April 9, 2022, due to its own capital needs, Gaoyan Capital plans to reduce its shareholding in Liangpin Store by centralized bidding from October 29, 2021 to April 7, 2022, and by block trading or agreement transfer from October 13, 2021 to April 7, 2022, with a total amount of no more than 24,060,000.

As of April 7, 2022, when the planned reduction time expired, the shareholder Gao Ying Capital reduced its holdings of 5,911,800 shares of Liangpin Store through block trading, accounting for 1.47% of the total share capital of Liangpin Store.

During this reduction, the reduction price of Gaochun Capital was 40-40.81 yuan/share, with a total reduction of 239 million yuan.

After the implementation of this reduction plan, Gaoling Capital holds 30,111,977 shares of Liangpin Store, accounting for 7.51% of the total share capital of Liangpin Store.

Soon, the good shop ushered in the third round of reduction of Gaochun Capital.

According to the Announcement on the Change of Shareholders’ Equity by More than 5% and the Result of Shareholding Reduction signed by Liangpin Store on November 19, 2022, due to its own capital needs, Gaoling Capital plans to reduce the shares of Liangpin Store by centralized bidding from June 14, 2022 to November 20, 2022, and by block trading or agreement transfer from May 26, 2022 to November 20, 2022.

As of November 18, 2022, upon the expiration of this reduction plan, shareholder Gao Ying Capital reduced its holdings of 7,821,956 shares of Liangpin Store by centralized bidding, accounting for 1.95% of the total share capital.

The price of this reduction is 25.47-35.64 yuan/share, with a total reduction of 219 million yuan.

After this equity change, Gaoling Capital holds 22,290,021 shares of Liangpin Shop, accounting for 5.56% of the total share capital.

The reduction is still going on.

According to the Announcement on the Change of Shareholders’ Equity Holding More than 5% and the Result of Shareholding Reduction signed by Liangpin Store on May 20, 2023, from March 14, 2023 to May 19, 2023, Gaoling Capital reduced its shareholding in Liangpin Store by 2,240,021 shares, accounting for 0.56% of the total share capital.

The price of this reduction is 299.3-39.14 yuan/share, with a total reduction of 73.1651 million yuan.

After this equity change, Gaoling Capital holds 20,050,000 shares of Liangpin Store, accounting for 5% of the total share capital of Liangpin Store.

According to the Announcement of Shareholder’s Centralized Bidding and Shareholding Reduction Plan signed by Liangpin Store on June 3, 2023, according to the fund term requirements, the total number of shares of Liangpin Store to be reduced by centralized bidding from June 28, 2023 to September 25, 2023 shall not exceed 4,010,000 shares, which shall not exceed 1% of the total share capital of Liangpin Store. In any continuous 90 days, the total number of shares reduced by centralized bidding transaction shall not exceed 1% of the total number of shares in good shops.

According to the Announcement on the Results of Holding Shares by Centralized Bidding signed by Liangpin Store on October 20, 2023, from June 28, 2023 to September 25, 2023, Gaoling Capital accumulated 4,009,356 shares of Liangpin Store through centralized bidding, accounting for 0.9998% of the total share capital of Liangpin Store.

The price of this reduction is 23.30-26.38 yuan/share, with a total reduction of 99.8484 million yuan.

After this equity change, the proportion of Gaoling Capital holding shares in Liangpin Store is 4.0002%.

As of the inquiry date, January 10th, 2024, Gaochun Capital has no new trend of reducing its holdings.

Looking back on history, Liangpin Store disclosed in the prospectus signed on January 21, 2020 (hereinafter referred to as "the prospectus signed on January 21, 2020") that with the rapid growth of Liangpin Store’s performance and the continuous improvement of brand awareness, investors continued to be optimistic about the future development prospects of Liangpin Store, so in 2017, Liangpin Store received a capital increase of RMB 326,049,500 from shareholders.

Just in 2017, the good shop completed the share reform.

According to the prospectus signed on January 21, 2020, Liangpin Store completed the share reform in December 2017, and was one of the founders of Gaochun Capital.

In other words, Gaochun Capital, as the initiator of share reform, was originally optimistic about the development prospects of good shops. After the lifting of the ban on its shares, it implemented five reduction plans in a row, and even the upper limit of the "card" reduction ratio for the fifth time, reducing the shareholding ratio to less than 5%. This also means that if Gaochun Capital still has a reduction plan, the good shop will not need to make an announcement in advance.

During the period of gaoling capital reduction, the second largest shareholder of Liangpin Store also joined the ranks of reduction.

According to the 2022 annual report of Liangpin Store, by the end of 2022, Dayong Co., Ltd. (hereinafter referred to as Dayong Co., Ltd.) held 121,496,526 shares of Liangpin Store, accounting for 30.3% of the total share capital, making it the second largest shareholder.

According to the Announcement of Shareholder’s Equity Change by 1% and Early Termination of Shareholding Reduction Plan signed by Liangpin Shop on December 2, 2023, Liangpin Shop disclosed the Announcement of Shareholder’s Shareholding Reduction Plan on May 18, 2023. Due to its own capital requirements, Dayong Co., Ltd. plans to reduce the total number of shares in Liangpin Store by centralized bidding or block trading to no more than 24,060,000 shares, which is no more than 6% of the total share capital. The reduction period of Dayong Limited through centralized bidding transaction is within 6 months after 15 trading days from the date of announcement of the reduction plan; The reduction period by block trading is within 6 months after 3 trading days from the date of announcement of the reduction plan.

From May 25, 2023 to November 29, 2023, Dayong Limited reduced its holdings by 17,040,000 shares through centralized bidding and block trading, accounting for 4.25% of the total share capital.

The price of this reduction is 19.46-28.53 yuan/share, and the total amount of reduction is 404 million yuan. After the reduction, Dayong Limited holds 26.05% of the shares.

In addition, the original concerted action of the good shop also participated in the reduction.

According to the 2022 annual report of Liangpin Shop, by the end of 2022, the controlling shareholder of Liangpin Shop was Ningbo Hanyi Venture Capital Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Hanyi"). Ningbo Liangpin Investment Management Co., Ltd. (hereinafter referred to as "Ningbo Liangpin"), Ningbo Hanliang Qihao Investment Management Partnership (limited partnership), Ningbo Hanlin Zhihao Investment Management Partnership (limited partnership) (hereinafter referred to as "Ningbo Hanlin"), Ningbo Hanning Beihao Investment Management Partnership (limited partnership), Ningbo Hanning. Yang Hongchun, Yang Yinfen, Zhang Guoqiang and Pan Jihong are the actual controllers of Liangpin Store. Among them, Yang Hongchun is the chairman and general manager of Liangpin Store.

According to the Prompt Announcement on Dissolving the Relationship of Concerted Action between Controlling Shareholders and Some Concerted Actions signed by Liangpin Store on March 7, 2023, Liangpin Store received the notice of dissolving the relationship of concerted action from Ningbo Hanyi, the controlling shareholder, Ningbo Liangpin, Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang on March 6, 2023. After all partners reached a consensus, Ningbo Hanliang, Ningbo Hanlin and Ningbo Hanliang recently.

Since Yang Hongchun no longer serves as the executive partner of Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang, the relationship between Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang and Ningbo Hanyi and Ningbo Liangpin is dissolved, Ningbo Hanyi and Ningbo Liangpin are still acting in concert.

In short, Yang Hongchun, the real controller of Liangpin Store, was originally an executive partner of Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang, and therefore formed a concerted action relationship with Ningbo Hanyi, the controlling shareholder. By March 2023, Yang Hongchun no longer served as the executive partner of the above four institutions, so the relationship of concerted action was dissolved.

According to the Announcement of Shareholder’s Shareholding Reduction Results signed by Liangpin Store on December 7, 2023, from June 9, 2023 to December 5, 2023, Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang reduced their shareholdings by 6,015,000 shares through centralized bidding, accounting for 1.5% of the total share capital.

The reduction price is 19.28-25.44 yuan/share, and the total reduction amount is 140 million yuan.

After the implementation of this reduction plan, Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang jointly held 9,742,651 shares of Liangpin Store, accounting for 2.43% of the total share capital.

It should be noted that according to the data of the Market Supervision Administration, as of the inquiry date of January 10th, 2024, Yang Hongchun’s shareholding ratio for Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang all exceeded 40%, making him the largest shareholder.

It can be seen that the controlling shareholder has dissolved the relationship of concerted action with Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang. Judging from the shareholding ratio of the partners of the above-mentioned enterprises, the actual controller Yang Hongchun may be the "main force" for this cash.

According to the data of Oriental Fortune Choice, from the date of the announcement of the first round of reduction plan of Gaochun Capital to the date of the expiration of the reduction period of shareholders such as Ningbo Hanliang, the stock price of Liangpin Store reached the highest point on March 2, 2021, with a closing price of 60 yuan/share and a total market value of 24.06 billion yuan. As of December 5, 2023, the stock closing price of Liangpin Store was 24.65 yuan/share, with a total market value of 9.885 billion yuan.

It is estimated that the total market value of good shops may have evaporated by 14.175 billion yuan during the period when the above shareholders reduced their holdings.

The decline of stock price is influenced by many factors, such as the performance change of listed companies, shareholder reduction and so on. After the lifting of the ban on the shares held by the above shareholders, the market value of good shops evaporated by tens of billions of yuan, and how did the frequent reduction of shareholders affect it?

In recent years, convenience stores and snack shops that mainly serve community users have achieved rapid growth with richer products, better consumption experience and higher cost performance, and have become an important force to promote the development and growth of the snack industry.

According to the record of investor relations activities of Liangpin Store in August, 2023, regarding the issue of "measures to deal with competition in the development of volume distribution channels",One of the measures that the good shops responded to was to actively expand the discount snack business by investing in "Snack Stubborn Home" and "Zhao Yiming Snacks".

According to the public information of Black Ant Capital’s WeChat public platform on March 7, 2023, in March 2023, Zhao Yiming Snacks, a snack collection store brand, completed a series of financing of 150 million yuan, which was led by Black Ant Capital and followed by good shops.

According to the public information of Zhao Yiming Food official website, in January 2019, the "Zhao Yiming Snacks" brand was established and the first direct store opened. In October 2019, the first franchise store opened. In October 2022, the total number of "Zhao Yiming Snacks" nationwide exceeded 500. In February 2023, the total number of stores in China exceeded 1,000. In August 2023, the total number of stores in China exceeded 2,000.

Only three years after the establishment of the brand, the number of "Zhao Yiming Snacks" stores has exceeded 2,000, and the development speed is obvious.

However, while the brand of "Zhao Yiming Snacks" is growing rapidly, Liangpin Store only invested in Zhao Yiming Food for half a year, and then sold the underlying equity.

According to the Announcement on Sale of Assets by Wholly-owned Subsidiaries signed by Liangpin Shop on October 17th, 2023, Ningbo Guangyuan Juyi Investment Co., Ltd., a wholly-owned subsidiary, intends to transfer its 3% equity of Yichun Zhao Yiming Food Technology Co., Ltd. (hereinafter referred to as "Zhao Yiming Food") to Shanghai Yihai Enterprise Management Consulting Partnership (Limited Partnership) and Xiamen Heiyi No.3 Overseas Connection Venture Capital Partnership (Limited Partnership) at a total price of about 105 million yuan.

According to this announcement, after the completion of this transaction, Liangpin Store will no longer hold the equity of Zhao Yiming Food, and at the same time, it is expected to generate an investment income of about 60 million yuan in the current period at the consolidated statement level due to the sale of the equity of Zhao Yiming Food.

That is to say, in the face of the rapid growth of snack distribution channels, Liangpin Store declared to investors that it would expand its business by investing in Zhao Yiming Food, but in only half a year, Liangpin Store "hastily" transferred its equity in Zhao Yiming Food, thus obtaining an investment income of about 60 million yuan. In this case, is the good shop investing in Zhao Yiming Zero Food out of business layout or financial investment?

As mentioned above, at the "end" of the first round of the shareholding reduction of Gaochun Capital, the good shops "buy back the shares on dips" for the employee stock ownership plan.

The implementation of employee stock ownership plan can bind the interests of employees with the interests of the company, improve the enthusiasm of employees and create more profits for the company. Therefore, there are certain assessment conditions for the granting and unlocking of equity.

According to the Employee Stock Ownership Plan (Revised Draft) in 2023, the underlying stocks obtained by the employee stock ownership plan will be unlocked by stages 12 months after the last underlying stock of Liangpin Store is transferred to the name of the employee stock ownership plan. The specific arrangements are as follows:

The first batch of unlocking time: it is 12 months from the date when the last target stock of Liangpin Store is transferred to the name of this employee stock ownership plan, and the number of unlocked shares is 33% of the total number of target stocks held by this employee stock ownership plan.

The second batch of unlocking time: 24 months from the date when the last target stock of Liangpin Store was transferred to the name of this employee stock ownership plan, and the number of unlocked shares is 33% of the total number of target stocks held by this employee stock ownership plan.

The third batch of unlocking time: it is 36 months since the last target stock of Liangpin Store was transferred to the name of this employee stock ownership plan, and the number of unlocked shares is 34% of the total number of target stocks held by this employee stock ownership plan.

If the performance appraisal indicators at the company level corresponding to the first batch are not reached, the corresponding rights and interests shall not be unlocked, and the related rights and interests shall be recovered by the management committee at the original investment amount of the underlying stock corresponding to the share, and the management committee shall dispose of the recovered related rights and interests according to the plan approved by the board of directors. There is no company-level performance appraisal in the second and third unlocking periods of this employee stock ownership plan.

With regard to company-level performance assessment, based on the operating income or net profit value in 2022, the operating income growth rate or net profit growth rate of the assessment year, that is, the operating income or net profit value in 2023, is assessed.

That is, the growth rate of operating income or net profit in 2023 is higher than 20%, and the unlockable ratio at the company level is 100%; If it is higher than 16% but lower than 20%, the unlocking ratio is 80%; If it is less than 16%, the unlocking ratio is 0%.

It should be noted that the above-mentioned "net profit" refers to the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses.

Looking back to the performance level of good shops.

According to the data of Oriental Fortune chioce, from 2019 to 2022 and from January to September in 2023, the operating income of good shops was 7.715 billion yuan, 7.894 billion yuan, 9.324 billion yuan, 9.44 billion yuan and 5.999 billion yuan respectively, with year-on-year growth rates of 20.97%, 2.32%, 18.11% and 5.999 billion yuan respectively.

In 2019-2022 and January-September 2023, the net profit of Liangpin Store after deducting non-recurring gains and losses from shareholders of listed companies was 274 million yuan, 275 million yuan, 206 million yuan, 209 million yuan and 122 million yuan respectively, with year-on-year growth rates of 31.78%, 0.57%, -25.15% and 1.2 million yuan respectively.

It is not difficult to see that in 2019, the performance of good shops was in a relatively "highlight moment", and the growth rate of revenue and net profit exceeded 20%. The following year, its performance growth slowed down. In 2021, there was no increase in income, but it increased slightly in 2022. By January to September 2023, its performance both fell into negative growth.

In this case, is it difficult for employees of good shops to unlock the corresponding performance appraisal indicators in the first batch of shares? The answer may be known after the announcement of the 2023 annual performance of Liangpin Store.

In addition, good shops boast of "the first share of high-end snacks", but the gross profit margin is not optimistic.

According to the semi-annual report of Liangpin Store in 2023, Liangpin Store said that it landed in the capital market as the first "cloud-listed" enterprise of Shanghai Stock Exchange in 2020 and became the first "high-end snack" in China. In addition, the good shop quoted the data of the "2022 Snack Market Research Report" of the China National Business Information Center, and disclosed that from 2015 to 2022, it led the domestic high-end snack sales for eight consecutive years.

However, the gross profit margin of good shops since listing may still be less than the average of peers.

According to the prospectus signed on January 21st, 2020, the comparable companies in the same industry of Liangpin Store include Shanghai Laiyifen Co., Ltd. (hereinafter referred to as Laiyifen), Haoxiangni Healthy Food Co., Ltd. (hereinafter referred to as Haoxiangni), Three Squirrels Co., Ltd. (hereinafter referred to as "Three Squirrels") and Yanjinpu Food Co., Ltd. (hereinafter referred to as "Yanjinpu Store").

According to the annual report of Liangpin Store in 2020-2022, the gross profit margin of Liangpin Store’s main business in 2020-2022 was 27.45%, 26.98% and 27.67% respectively.

According to the above-mentioned annual reports of comparable companies in the same industry and the data of Oriental Fortune Choice, from 2020 to 2022, the gross profit margin of your main business is 17.76%, 25.03% and 22.69% respectively. The gross profit margin of the main business in Iraq is 42.13%, 42.46% and 41.92% respectively; The gross profit margin of the main business of the three squirrels is 23.9%, 29.38% and 26.74% respectively; The gross profit margin of Yanjin Shop’s main business is 43.83%, 35.71% and 34.72% respectively.

It is estimated that the gross profit margin of the main business of the above-mentioned comparable companies in the same industry will be 31.91%, 33.15% and 31.52% respectively from 2020 to 2022, which is higher than the gross profit margin of the main business of Liangpin Store in the same period.

It can be seen that in 2020-2022, the gross profit margin of the main business of good shops was lower than the average of peers. Therefore, does the gross profit margin level of the above-mentioned main business of Liangpin Shop contradict with the "high-end" positioning?

Continue to pay attention to the employee stock ownership plan of the good shop.

According to the announcement signed by Liangpin Store on January 12, 2023, Liangpin Store held the first employee representative meeting, the 18th meeting of the second board of directors and the 14th meeting of the second board of supervisors in 2023 on January 11, 2023, and deliberated and passed the Proposal on the Company’s Employee Stock Ownership Plan (Draft) in 2023 and the Administrative Measures on the Company’s Employee Stock Ownership Plan in 2023.

On the signing date of the above announcement, Liangpin Store also announced the 2023 Employee Stock Ownership Plan (Draft), and the price of the shares repurchased by Liangpin Store in the employee stock ownership plan is 9.9 yuan/share. The total number of employees participating in this employee stock ownership plan shall not exceed 90.

Among them, there are 9 supervisors and senior managers, namely, Li Haohao, Jia Liming, Liu Ling, Jin ‘an, Xu Ran, Ke Bingrong, Xuanmingfeng, Ma Teng and Wan Zhang Nan, and their total share accounts for 37.84% of the total planned share. The total share of other middle and senior managers and core professionals accounts for 62.16% of the total planned share.

The source of the underlying stock involved in this employee stock ownership plan is the common stock of Liangpin Store.

As for the share payment fee, it is assumed that the employee stock ownership plan will transfer 3,016,600 shares of Liangpin Store held in the special securities account for Liangpin Store repurchase to the employee stock ownership plan by means of non-transaction transfer at the end of February 2023, with the closing price of Liangpin Store on January 11, 2023 (35.35 yuan/share) as the forecast, and the share payment fee will total 76,772,500 yuan.

Oddly, the next day, Liangpin Store revised the 2023 Employee Stock Ownership Plan (Draft), which was reviewed and approved by the Board of Directors and the Board of Supervisors.

According to the "2023 Employee Stock Ownership Plan (Revised Draft)" signed by Liangpin Store on January 13, 2023, after the revision of the draft, the price of the stock repurchased by the employee stock ownership plan is 16.7 yuan/share. The upper limit of the share to be held by the incentive object is increased, and the corresponding proportion of the total share of the plan remains unchanged.

Assume that the employee stock ownership plan will transfer 3,016,600 shares of Liangpin Store held in the special securities account for Liangpin Store repurchase to the employee stock ownership plan at the end of February 2023 by means of non-transaction transfer and other laws and regulations, and the stock payment fee will be 53,031,800 yuan based on the closing price of Liangpin Store shares on January 12, 2023.

In other words, after the price changes, the calculated share payment fee disclosed by the good shop may be reduced by RMB 23,740,700.

On September 10th, Guangzhou Automobile Chuanqi E8+ MPV went on the market today, and launched three models: MAX+version, Longteng Guanghui+and Longteng Starry Night+version, with the price range of 232,800-238,800 yuan. The new car is based on the electronic and electrical architecture of GAC Spirit, and the appearance and interior design have not changed much, but the configuration has been greatly improved. The new car is equipped with ADiGO driver assistance system, and the comfort configuration is optimized, such as standard steering wheel heating, rear small table board and two rows of zero-gravity seats.

In addition, Chuanqi E8+also introduced preferential policies for car purchase. From now until September 30th, you can enjoy the comprehensive rights and interests of up to 30,000 yuan under the order of Chuanqi E8+. When you buy Chuanqi E8 Longteng+,you can also get a "refrigerator color TV" boutique set worth 10,000 yuan. Chuanqi E8 old car owners can enjoy the suit at half price.

IT House noticed that the appearance of Chuanqi E8+series has not changed much compared with E8 series, and it still adopts the design of split light group and through LED daytime running lights. The front grille is designed without a frame, with a patchwork of banners in the middle net, and the front enclosure is equipped with LED light groups arranged vertically on both sides.

The side of the car body maintains the traditional MPV structure, with 18-inch seven-spoke wheels and chrome-plated side skirts. The new car is equipped with double side sliding doors, with a body size of 4920/1900/1760mm and a wheelbase of 2930mm. The rear is equipped with a roof spoiler and a blackened through taillight group.

In terms of interior, the new car is equipped with an 8.88-inch full LCD instrument panel and a three-spoke multi-function steering wheel. The center console is equipped with a 14.6-inch multimedia touch screen, equipped with an 8155 chip and a car voice wake-up function. The channel area of the center console is equipped with electronic key shift mechanism, wireless charging panel and double cup holder, and the overall stepped design makes the new car more atmospheric. The new car can also be equipped with HUAWEI HiCar mobile phone interconnection box.

In terms of comfort configuration, the new car comes standard with steering wheel heating, automatic anti-glare interior rearview mirror, front seat ventilation and heating, ambient light, rear small table board, two rows of zero-gravity seats, rear sound insulation glass and manual side window sunshade. The new car still adopts a 7-seat layout, and the trunk volume is 345-1917 liters.

In terms of intelligent configuration, the new car has added the functions of fatigue driving monitoring, door opening warning and rear anti-collision warning. As standard, the front and rear parking radars are upgraded to 13 ultrasonic radars and 2 millimeter-wave radars. In terms of intelligent driving system, the new car has added ADiGO driver assistance system, which comes standard with parallel assistance, lane centering and reversing side warning. Voice wake-up recognition is increased to four areas.

In terms of power, the new car still adopts a hybrid system consisting of a 2.0L four-cylinder engine and an electric motor. The maximum power of the engine is 103 kW and the maximum torque is 180 Nm. The front motor has a maximum power of 134 kW and a maximum torque of 300 Nm. The battery adopts liquid-cooled ternary lithium battery pack, and the battery energy is 25.57kWh. Under CLTC working condition, the pure electric cruising range is 150 kilometers, and the comprehensive cruising range is 1200 kilometers. The new car supports fast charging and is equipped with 3.3 kW external discharge function.

On April 18th, the activity of "Leading Times Fengyun 2024 Chery Fengyun New Energy Night and Fengyun T9 Pre-sale" was held in Chery Qingdao Super Factory. At this conference, Chery officially released Fengyun’s future strategic plan, and at the same time opened the pre-sale of Fengyun T9, an ultra-luxury medium-sized electric hybrid SUV.

Strategic planning and upgrading of 11 new energy vehicles in two years

In China’s new energy market in 2024, independent brands have risen in an all-round way. Chery Group sold 529,604 vehicles in the first quarter, up 60.3% year-on-year, ranking second among all passenger car brands in terms of sales volume, ranking first in terms of growth rate, and also performing brilliantly in the new energy market, with new energy sales increasing by 124.3% year-on-year in the first quarter.

Zhang Guozhong, executive deputy general manager of Chery Automobile Co., Ltd., said that 2024 will be the year when Chery Group’s new energy strategy will bear fruit and its firepower will be in full swing. It is believed that in the second quarter, the growth rate of new energy of Chery Group will continue to "double" and enter the first camp of new energy. Since its official release in November last year, Chery Fengyun has continued to advance, launching Fengyun A8 and A8 voyage versions, and today Fengyun T9 will also open a new chapter in SUV. In the future, Fengyun series will fully cover the hybrid, extended-range and pure electric markets, and 11 new models will be launched within two years, covering SUV, SD and MPV categories, fully meeting the different market demands from A0 to C.

Zhang Guozhong, Executive Deputy General Manager of Chery Automobile Co., Ltd.

At the same time, Fengyun T9, an ultra-luxury medium-sized electric hybrid SUV, was put into pre-sale, with a pre-sale price of 159,900-199,900 yuan, which has four advantages: luxury and comfort, luxury safety, luxury quality and luxury performance. At the same time, Fengyun’s sales network has grown to nearly 400, covering 233 cities across the country, of which TOP100 City has covered 97%, allowing users to enjoy a more convenient and comfortable new service experience.

A new benchmark for ultra-luxury medium-sized electric hybrid SUV-Fengyun T9 opens for pre-sale.

Leading world-class factories create high-quality products for Fengyun sequence

The luxury quality of Fengyun T9 is inseparable from the strong empowerment of Chery Qingdao Super Factory. As the world’s leading 5G black light factory, Chery Qingdao Super Factory creates high-quality products with zero difference and zero defect for users with super automation, super intelligent quality control, the world’s strongest digitalization and the world’s strongest energy intelligent control. Chery’s persistence in quality stems from the inheritance of German "engineer" culture and has gone deep into the ultimate pursuit of every detail.

The world’s leading 5G black light factory

It is precisely because Chery always adheres to German luxury quality standards that Chery’s persistent pursuit of quality can be seen in the details of every Fengyun T9. Chery builds the German luxury quality of Fengyun T9 with its leading world-class factory. As Li Xueyong, deputy general manager of Chery Automobile Co., Ltd. said, Chery’s world-class super factory ensures that every car off the assembly line is a global car, and every China user buys a global car that meets global standards. Chery combines world-class technology with world-class factories to create a T9 with world-class standards and German luxury quality.

Li Xueyong, Deputy General Manager of Chery Automobile Co., Ltd.

Leading world-class hybrid technology to create a high-quality car suitable for the world.

The outstanding performance of Fengyun sequence stems from the strong empowerment of the world-class hybrid technology Kunpeng Super Hybrid C-DM. Since November last year, Chery Fengyun has frequently circled through a series of more realistic tests, showing the hard-core strength of leading hybrid technology with the most authentic data. Chery Fengyun has demonstrated its strength with many excellent on-site performances in many measured challenges, such as 2000km uninterrupted long cruising range with full oil and electricity, 1935.4km measured cruising range at minus 30 degrees, 1350km measured cruising range under extreme cold conditions, and 180km/h "true circle turning" for one hour to challenge the top speed of 205 km/h.

Open several times, the actual measurement continues to lead the generation.

Chery, which has always been user-centered, has built a global R&D system with 8 global R&D centers, 300+ Eta Ursae Majoris laboratories and 25,000+global R&D talents with a global vision and layout to meet the demand of global consumers for cars. At the same time, in order to ensure that the products can stand the test of road conditions and environment in different parts of the world, Chery Fengyun has carried out rigorous extreme environmental conditions verification in many parts of the world, creating a leading hybrid technology, providing high-quality guarantee for Fengyun products.

Kunpeng Super Hybrid C-DM

Leading world-class enterprise concept helps Fengyun compete for the global market.

Not long ago, Chery Fengyun became the official car of China National Women’s Volleyball Team. The spirit of Chery’s "Little Grass House", which resonates with the "Women’s Volleyball Team Spirit", has been running all the way from the small grass house, and now it has spread all over the world in more than 80 countries. One out of every three passenger cars exported from China is Chery. In the future, Chery Fengyun, which inherits the spirit of "small grass house", will continue to dominate the world automobile market.

Women’s volleyball world champions Zhao Ruirui, Wei Qiuyue and Yan Ni appeared at the press conference.

It will usher in a brand-new strategic upgrade sequence. With the empowerment of "Eta Ursae Majoris 2025" strategy, it will open a new chapter of "Fengyun Speed" and redefine the new energy travel experience with world-class hybrid technology, world-class super factory and world-class hybrid products.

Speaking of childhood memories, Ashton Chen’s little bald head image is the most representative one, although most of them now play the role of green leaves. But small 8 found under the clues that Ashton Chen’s background is not simple, and his real identity is a rich second generation!　

From time to time, Ashton Chen’s personal Weibo has car racing and golf map updates, and the high-end point of the star’s business activities is understandable. However, in Reuters’s map, Ashton Chen can often see luxury cars nearby, which makes people wonder about Ashton Chen’s identity background.　

Ordinary people who travel on weekdays are extended Land Rover Range Rover, worth more than 3 million yuan, and there are also many sports cars such as Audi R8 and RS7. In addition to owning a car, racers certainly have to be very rich. After all, modification and loss are not small expenses.

Ashton Chen’s father, Chen Tongshan, is one of the 18 King Kong in Shaolin. Born in a martial arts family, he devoted himself to the cause of martial arts. From Shaolin Wushu Performance Troupe to Wulin School, he is famous all over the country and even in neighboring countries. All this must require a lot of money, so how can it work smoothly?

It turns out that Ashton Chen’s father manages nine companies, whose industries involve the spread of martial arts culture, diet, film and television, etc. His son is sent to master Shi Yongxin to study, and Chen Tongshan is not idle. With the basic strength, what he wants to do can naturally be realized slowly.　

Ashton Chen, who made her debut in childhood, is also an expert in making money. Since "shaolin popey" in 1994, many martial arts films have been made, with lovely images and aura. Every time I look at previous films, I admire this little actor’s acting skills.

Ashton Chen’s film and Shang Yan are the first pot of gold for Chen Tongshan to get rich. The film contract is constant, and the popular income of the booming will naturally not be low. If you invest in the real estate, you will have a huge family fortune now. It is said that you also have a whole commercial street in Dengfeng.

Chen Tongshan also has two famous martial arts schools. Many people come here to cultivate countless talents, including world-class and national champions, or martial arts child stars like Ashton Chen. The martial arts film and television base set up conveniently also provides a lot of convenience for martial arts action movies.　

All in all, Chen Tongshan is worth at least 100 million yuan, and his strength cannot be underestimated. Although the development of these undertakings is also very helpful to personal interests, it is self-evident that they have made contributions to spreading Shaolin Kung Fu and making Wushu go global.　

Without his father’s business acumen, Ashton Chen’s salary as a child could not have made such a big industry. There are many things to spend money, and the fastest flowing thing in the world is money. Ten or twenty years ago, the pay of popular actors was only nine Niu Yi cents compared with the current traffic.　

The number of works is also because Ashton Chen is an old-timer in the film and television circle. Occasionally, the staff around him will ask him if he was born in more than 90 years. It’s really hard to imagine that he was born in 88 just by looking at his appearance. After 25 years in the industry, he still hasn’t lost his youthful spirit. It seems that he will be the same as Jimmy Lin.　

Although rich, Ashton Chen loves acting as much. He was trained as a Shaolin disciple because of family reasons, and he was amazing at acting. He just debuted in 1993 and had supernatural acting skills in front of the screen, and he did not fall into the same strange martial arts. small 8 saw that many adult actors could not do this.　

When he grew up, his career would definitely change. During that quiet period, Ashton Chen was sent to the United States for further study because of his superior family conditions. There is no need to worry about no filming at all, and the property of over 100 million in the family is estimated to be not bad for the money earned from filming in recent years.　

Ordinary artists are easily misunderstood by the secular as making money and wanting to be popular, but when we learn that a person will go back to inherit thousands of possessions if he doesn’t film well, we will sincerely think that this is a person who is serious about his career.　

Ashton Chen’s father invested a lot in martial arts, and constantly expanded the art of martial arts. Father and son who earn money are also enthusiastic about public welfare. Chen Tongshan not only concentrates on martial arts education, but also participates in many charitable activities like Ashton Chen.　

China has such a rare talent, which is really a treasure in the entertainment circle. Ashton Chen is willing to be a supporting role in many film and television dramas, and all of them are real kung fu. I hope that there will be more people in the entertainment circle who speak with real skills, devote themselves to drama and produce more masterpieces of word of mouth.

　　Action program for building a socialist modern country in an all-round way

　　Jinlong Chen

　　(Dean and Professor, School of Marxism, South China Normal University)

　　The 20th National Congress of the Communist Party of China is a very important meeting held at the critical moment when the whole Party and the people of all ethnic groups in China have embarked on a new journey of building a socialist modern country in an all-round way and marched towards the goal of the second century. It is the prominent focus of the Party’s Report to the 20th CPC National Congress to plan the great practice of building a socialist modern country in an all-round way. The party’s Report to the 20th CPC National Congress has a large spaceIt systematically outlines the basic goals, strategic steps, major principles and specific practices of building a socialist modern country in an all-round way, and points out the direction and path of action for building a socialist modern country in an all-round way.

　　On October 16th, 2022, The 20th National Congress of the Communist Party of China（CPC） opened in the Great Hall of the People. The Supreme Leader made a report to the General Assembly on behalf of the 19th Central Committee. Xinhua News Agency reporter Yue Yuewei photo

　　First, the establishment of the goal of building a socialist modern country in an all-round way　　

　　After the goal of building a well-off society in an all-round way is realized, the goal of building a socialist modern country in an all-round way is put on the agenda. Report to the 20th CPC National Congress of the Party has made clear the mission and task of the Communist Party of China (CPC) in the new era and new journey, that is, "to build a socialist modernization power in an all-round way, realize the goal of the second century, and comprehensively promote the great rejuvenation of the Chinese nation with Chinese modernization".This not only clarifies the goal of building a socialist modernization power in an all-round way, but also explains the relationship between Chinese modernization and the great rejuvenation of the Chinese nation.　　

　　On building a socialist modern country in an all-round wayRelationship with building a socialist modern power in an all-round wayGenerally speaking, building a socialist modern country in an all-round way is a process, and building a socialist modern power in an all-round way is the goal and result of building a socialist modern country in an all-round way. Without the process, there will be no result.　　

　　We will build a socialist modernization power in an all-round way.And the great rejuvenation of the Chinese nation.Generally speaking, building a socialist modernization power in an all-round way is the basis and an important step in the historical process of realizing the great rejuvenation of the Chinese nation.　　

　　As far as the path of realizing the great rejuvenation of the Chinese nation is concerned,We should comprehensively promote the great rejuvenation of the Chinese nation with Chinese modernization. In his speech at the second plenary session of the Fifth Plenary Session of the 19th CPC Central Committee, General Secretary of the Supreme Leader stressed: "China should unswervingly promote Chinese modernization, promote the great rejuvenation of the Chinese nation with Chinese modernization, and constantly make new and greater contributions to mankind." The important thesis of "promoting the great rejuvenation of the Chinese nation with Chinese modernization" has been clearly put forward here. The third historical resolution deliberated and adopted by the Sixth Plenary Session of the 19th CPC Central Committee, when explaining the connotation of the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era, emphasized that "upholding and developing Socialism with Chinese characteristics, the overall task is to realize socialist modernization and the great rejuvenation of the Chinese nation" and "promoting the great rejuvenation of the Chinese nation with Chinese modernization". Realizing socialist modernization and the great rejuvenation of the Chinese nation constitute the general task of upholding and developing Socialism with Chinese characteristics in the new era, and they are closely linked one after another. Chinese-style modernization is the necessary stage and inevitable choice to realize the great rejuvenation of the Chinese nation, laying a solid foundation and showing a bright future for the great rejuvenation of the Chinese nation.

　　After the practical exploration since the founding of New China, especially since the reform and opening up, the road of Chinese modernization has basically taken shape.In his speech at the Fifth Plenary Session of the 19th CPC Central Committee, General Secretary of the Supreme Leader summarized the basic characteristics of Chinese modernization.That is, the modernization with huge population, the common prosperity of all people, the coordination of material civilization and spiritual civilization, the harmonious coexistence of man and nature, and the modernization of peaceful development.Report to the 20th CPC National Congress of the Communist Party of China reiterated these basic characteristics and further elaborated them.Chinese-style modernization not only conforms to the reality of China, embodies the law of socialist construction, but also conforms to the development trend of the times, embodies the law of human social development, and opens up the correct road to realize the great rejuvenation of the Chinese nation. Defining Chinese-style modernization as the path to comprehensively promote the great rejuvenation of the Chinese nation is conducive to rallying the forces to realize the great rejuvenation of the Chinese nation, clarifying the relationship between Chinese-style modernization and the great rejuvenation of the Chinese nation, and dispelling the misunderstanding and prejudice of the international community in realizing the great rejuvenation of the Chinese nation.

　　II. Arrangement of Steps for Building a Socialist Modern Country in an All-round Way　　

　　Modernization is a broad and profound social change, involving all fields and aspects, and it is a long-term and phased process. The report of the 19th National Congress of the Communist Party of China comprehensively analyzed the international and domestic situation and China’s development conditions, and planned the steps of building a socialist modern country in an all-round way in two stages.In the party’s Report to the 20th CPC National Congress, General Secretary of the Supreme Leader reiterated the strategic steps of building a socialist modern country in an all-round way:Basically realize socialist modernization from 2020 to 2035; From 2035 to the middle of this century, China will be built into a prosperous, strong, democratic, civilized, harmonious and beautiful socialist modernization power.这一战略安排体现了现代化的过程性和阶段性。

　　党的二十大报告对到二〇三五年我国发展的总体目标进行了具体厘定，从综合国力、科技发展、经济发展、政治发展、文化发展、社会建设、生态文明建设、国家安全、国防和军队现代化等方面，勾勒了基本实现社会主义现代化的轮廓。这一界定相对于党的十九届五中全会对基本实现社会主义现代化远景目标的谋划，增加了建成科技强国、农村基本具备现代生活条件、社会保持长期稳定等内容。同时，党的二十大报告提出了未来五年全面建设社会主义现代化国家开局起步的主要目标任务。如此，全面建设社会主义现代化国家的阶段性目标日渐清晰和具体。

　　2019年10月1日上午，庆祝中华人民共和国成立70周年大会在北京天安门广场隆重举行。这是群众游行中的伟大复兴方阵。新华社记者 琚振华 摄

　　三、全面建设社会主义现代化国家重大原则的确立　　

　　全面建设社会主义现代化国家是一项伟大而艰巨的事业。最高领袖总书记在党的二十大报告中指出，前进道路上，必须牢牢把握以下五条重大原则：坚持和加强党的全面领导、坚持中国特色社会主义道路、坚持以人民为中心的发展思想、坚持深化改革开放、坚持发扬斗争精神。This is the concrete application of the historical experience of the party’s hundred years of struggle and points out the practical principles of building a socialist modern country in an all-round way.

　　Chinese-style modernization is a modernization with a huge population, which requires strong party leadership in order to coordinate all kinds of relations, resolve all kinds of contradictions, and give full play to the institutional advantage of concentrating on doing great things. General Secretary of the Supreme Leader pointed out in the Party’s Report to the 20th CPC National Congress: "Chinese modernization is the socialist modernization led by the Communist Party of China (CPC)". This is the essential feature of Chinese modernization, and upholding and strengthening the overall leadership of the party is the practical principle of building a socialist modern country in an all-round way. Socialism with Chinese characteristics Road is the only way to create a better life for the people and realize the great rejuvenation of the Chinese nation, and it is also the only way to build a socialist modern country in an all-round way. The party’s foundation lies in the people, its blood lies in the people, and its strength lies in the people. The people are the greatest strength of the party in governing and rejuvenating the country. Adhering to the people-centered development thought is the Communist Party of China (CPC)’s fundamental value position and the value orientation of building a socialist modern country in an all-round way. Reform and opening up is a key measure to determine the future and destiny of contemporary China. It is still necessary to persist in deepening reform and opening up in building a socialist modern country in an all-round way, and the process of building a socialist modern country in an all-round way is a process of deepening reform and opening up. The new process of building a socialist modern country in an all-round way has begun. China’s development has entered a period in which strategic opportunities and risk challenges coexist and uncertainties and unpredictable factors increase. Various "black swan" and "grey rhinoceros" incidents may occur at any time. General Secretary of the Supreme Leader pointed out in the Party’s Report to the 20th CPC National Congress,"We must enhance our sense of urgency, adhere to the bottom line thinking, be prepared for danger in times of peace, prepare for a rainy day, and prepare for a major test of high winds, high waves and even stormy waves." Building a socialist modern country in an all-round way needs to persist in carrying forward the spirit of struggle.The "Five Major Principles" are not only the major principles of building a socialist modern country in an all-round way, but also the practical requirements of building a socialist modern country in an all-round way.

　　Fourth, the planning of building a socialist modern country in an all-round way　　

　　According to the inherent law of Chinese modernization, Report to the 20th CPC National Congress of the Party made a concrete plan for the practice of building a socialist modern country in an all-round way:High-quality development is the primary task of building a socialist modern country in an all-round way; Education, science and technology and talents are the basic and strategic supports for building a socialist modern country in an all-round way; People’s democracy is the life of socialism and the proper meaning of building a socialist modern country in an all-round way; Adhere to the rule of law in an all-round way, promote the construction of China ruled by law, and build a socialist modern country in an all-round way on the track of the rule of law; To build a socialist modern country in an all-round way, we must adhere to the road of cultural development in Socialism with Chinese characteristics; Insist on safeguarding and improving people’s livelihood in development, encourage joint efforts to create a better life, and constantly realize people’s yearning for a better life; Respecting nature, conforming to nature and protecting nature are the inherent requirements of building a socialist modern country in an all-round way; Promote the modernization of the national security system and capabilities, and resolutely safeguard national security and social stability; Accelerating the building of the people’s army into a world-class army is a strategic requirement for building a socialist modern country in an all-round way; Promote world peace and development and build a community of human destiny; The key to building a socialist modern country in an all-round way and promoting the great rejuvenation of the Chinese nation lies in the party. These important conclusions,The practice of building a socialist modern country in an all-round way in the next five years or even longer is deployed, which actually points out the practical path of building a socialist modern country in an all-round way and shows the glorious prospect of building a socialist modern power in an all-round way.

　　In a word, Report to the 20th CPC National Congress of the Communist Party of China has made forward-looking thinking, overall planning and strategic layout for building a socialist modern country in an all-round way, which has become the action program for building a socialist modern country in an all-round way in the new era.

After buying shares in Lianhua Supermarket and Sanjiang Shopping, Alibaba once again bought shares in an offline retail giant: Gaoxin Retail Co., Ltd. (06808.HK), the listed entity of Taiwan-funded supermarket chain brand RT Mart.

On November 20th, Alibaba Group, Auchan Retail S.A and Runtai Group announced a new retail strategic cooperation. According to the strategic cooperation agreement, Ali invested about HK$ 22.4 billion (about US$ 2.88 billion, RMB 19.002 billion) through its wholly-owned subsidiary Taobao China Holdings Co., Ltd., directly and indirectly holding 36.16% of the shares of Gaoxin Retail.

The offer price of this transaction is HK$ 6.50, a discount of 24.42% compared with HK$ 8.60 before the suspension of Gaoxin Retail.

Taobao China Holdings Co., Ltd. is the operating entity of overseas business of Taobao and Tmall International. Runtai is the parent company of RT Mart. This transaction means that the largest supermarket group in China, represented by RT Mart and Auchan, will join the new retail system promoted by Alibaba in terms of business model and capital structure.

After the Hong Kong stock market opened on the same day, the retail share price of Gaoxin opened higher by more than 5%, and then fell by more than 10% all the way down, but the share price rebounded thereafter. As of press time, it has remained flat.

The largest supermarket group in China, represented by RT Mart and Auchan, will fully embrace new retail.

Gao Xin’s chairman intends to resign, and Ali will get a seat on the board.

The equity of Gaoxin Retail is more complicated. Before the transaction, the major shareholders of Gaoxin Retail included: Jixin Holdings (holding 51%), Kofu (holding 7.84% directly), Auchan Retail International (holding 9.71% directly) and CGC (holding 8.46% directly). Among them, Jixin is a special company for the listing of Gaoxin. Auchan holds 51% of the company’s shares and Runtai holds 49%.

After this transaction, the economic benefits of Auchan Retail, Alibaba and Runtai in Gaoxin Retail are about 36.18%, 36.16% and 4.67% respectively. Ali is the second largest shareholder of Gaoxin Retail.

According to the announcement of Gaoxin Retail on the Hong Kong Stock Exchange, after the delivery, Zheng Quantai, Chairman of Gaoxin Retail Board, non-executive director and Runtai senior executive, Gao Xin executive director, Chairman and CEO of RT Mart and Huang Mingduan, Runtai senior executive, intend to resign from the board of directors, which will take effect on the day immediately after the first deadline of the offer. The offeror intends to nominate a new director to join the board of directors, and the effective date will not be earlier than the date of the comprehensive document or a date approved according to the Takeover Code.

According to media reports, Bin Yuan, co-CEO of RT Mart flying cow net, said: Mr. Huang Mingduan, Chairman of RT Mart, will continue to take charge of RT Mart and lead the original senior management team to integrate online and offline advantages.

Analysts said that although Ali is not the largest shareholder, this arrangement may seem that Ali has a good relationship with Auchan and may further control Gaoxin retail in the future. The case that can be referenced is that Ali bought and privatized Yintai Commercial Company after three years of strategic investment and shareholding.

Cooperation Taobao Daojia

In addition to equity transactions, relevant parties also reached an agreement on business cooperation.

Hangzhou Alibaba Zetai Information Technology Co., Ltd., Gaoxin Retail, Auchan China and RT Mart China, wholly-owned subsidiaries of Ali Group, will enter into business cooperation agreements.

According to the agreement, Hangzhou Ali Zetai will provide a number of services as part of its "Taobao Home" service to stores operated by Gaoxin Retail. Specifically, it includes: the shops operated by Auchan China and China, RT Mart approved the use of their business model and online platform; Share data; And the integrated system and POS hardware.

"Taobao Home" aims to operate a business model that allows traditional supermarkets and supermarkets to increase their business efficiency by using Internet technology and Taobao traffic.

I have also contacted Tencent and Suning.

Under the background of sluggish physical retailing, Gaoxin Retail still holds the top spot among overseas chain enterprises in China market. Gaoxin Retail is the largest hypermarket operator in China, operating 446 hypermarkets in 29 provinces, municipalities and autonomous regions in China under the brands of Auchan and RT Mart.

The financial report for the third quarter of 2017 just released by Gao Xin shows that the company’s turnover in the first nine months of 2017 as of September 30 reached 79.030 billion yuan, a year-on-year increase of only 2.2%. Gross profit was 18.689 billion yuan, up 3.5% year-on-year.

In February this year, there were rumors that Gaoxin Retail was in close talks with Alibaba to seek to sell its shares. Yin Yanliang, president of Runtai Group, the major shareholder of Gaoxin, even said that Ali, Tencent and Suning are all "pursuing" RT Mart. However, Ali responded at that time that he did not comment on market rumors.

After the announcement of the transaction on November 20, Huang Mingduan, vice chairman of Runtai Group, said that in recent years, due to the rise of the mobile Internet, the demand of consumers has undergone tremendous changes, and Gao Xin has been trying to move from offline to online. Run Taile sees Gao Xin and Alibaba joining forces and working together online and offline to satisfy customers.

Zhang Yong, CEO of Alibaba Group, said: "Physical stores play an indispensable role in consumer shopping. In the modern digital economy, they should be optimized through personalized product recommendation driven by big data."

Alibaba is opening the new retail model to retail partners to promote online and offline integration and comprehensive improvement of commercial internetization. Alibaba has successively invested in or acquired traditional retail companies such as Yintai, Suning, Sanjiang and Lianhua Supermarket under Bailian, and created new retail formats such as Box Horse Fresh Life, promoted the intelligent upgrade of physical stores with brands, and strategically invested in the digital infrastructure of retail formats. Shiji Company.

In May this year, several supermarkets in Sanjiang Shopping completed digital transformation. In July, the online transaction amount exceeded 25% of the total number of stores, and a large number of new members were obtained, while the turnover of old members also increased by 18%.

Attachment: Progress of New Retail Layout in Ali

In April 2014, Alibaba made a strategic investment in Yintai Commercial with HK$ 5.37 billion.

In August 2015, Ali invested in Suning with a strategy of about 28.3 billion yuan, becoming the second largest shareholder; Suning will subscribe for no more than 27.8 million shares of Ali’s newly issued shares in 140 yuan RMB; The two sides will open up online and offline to comprehensively improve efficiency and provide more perfect commercial services for consumers in China and around the world.

In November 2016, Sanjiang Shopping announced that it had obtained Alibaba’s investment, and Hangzhou Alibaba Zetai Information Technology Co., Ltd., a subsidiary of Alibaba Group, purchased 32% of Sanjiang Shopping, and the two established a joint venture company.

In January, 2017, Alibaba Group, together with Shen Guojun, the founder of Yintai Commercial (Group) Co., Ltd., asked Yintai’s board of directors to submit a proposal to its shareholders on the privatization of Yintai through agreement. The maximum cash required to complete the proposed transaction is about 19.8 billion Hong Kong dollars (about 17.7 billion yuan). According to the privatization agreement, Alibaba will become the controlling shareholder of Yintai after the transaction is completed, and its shareholding ratio is expected to increase to about 74%.

In February 2017, Alibaba Group and Bailian Group announced a strategic cooperation in Shanghai, and said that they would carry out all-round cooperation based on big data and Internet technology in six areas: all-business integration and innovation, new retail technology research and development, efficient supply chain integration, member system interoperability, payment financial interconnection and logistics system coordination.

In May 2017, Alibaba Group signed the Equity Transfer Contract with Yiguo Fresh, and Alibaba Group acquired 18% equity of domestic shares in Lianhua Supermarket from Yiguo Fresh. According to the announcement of Bailian Group, Alibaba received 201,528,000 domestic shares, accounting for 18% of the issued share capital of Lianhua Supermarket, becoming the second largest shareholder. Yiguo Fresh still holds 1.17% of the shares.

On November 20, 2017, Alibaba Group, Auchan Retail S.A (Auchan Retail) and Runtai Group announced a new retail strategic cooperation. According to the strategic agreement, Alibaba Group will invest about 22.4 billion Hong Kong dollars (about 2.88 billion US dollars, 19.002 billion yuan) to directly and indirectly hold 36.16% of the shares of Gaoxin Retail.

Hualong Net News (Xu Chuan) On April 25th, the ultra-yue automobile robot made its debut at the Beijing Auto Show with a brand-new product lineup. The second model of the ultra-yue 07, an ——AI intelligent pure electric car, made its debut at the auto show and won the title of "the most beautiful 7 Series" with its original artistic and aesthetic design in China. Extreme Vietnam and NVIDIA will join hands again, and Thor, a high-performance computing platform with 1000TFLOPS, will be put into mass production in 2026. At the same time, Extreme Yue 01 will also upgrade the latest version of V1.5.0, and PPA Zhijia will have an early adopter experience in 100 cities, once again giving users a monthly "new car".

Ultra-low drag coefficient of 0.198 China original design creates "the most beautiful 7 series"

High value and artistic beauty are the eternal pursuit of automobile design. Extreme Yue 07 has gone a step further in design aesthetics, combining advanced AI intelligence with beautiful robot aesthetic design language, and combining with leading intelligent technology, it has become the "most beautiful 7 series" which integrates aesthetic design, cutting-edge technology and sports genes, and has become a new benchmark for car aesthetic design in the global automobile industry.

Xia Yiping, CEO of Extreme Vietnam, said: "Today, we should not only pay tribute to the once beautiful’ 7′, but also let everyone understand the beauty of the product, because some changes have taken place because of our arrival. In the design of smart cars in the next 10 years, there will be a shadow. " At the same time, Zeng Yuqun, chairman and general manager of Contemporary Amperex Technology Co., Limited, said: "The Extreme Yue 07 is very good, and the first one is left to me."

Extreme Yue 07 continues the family gene of "robot aesthetics" design language-robotization, futurism and empathy, and pursues science and technology, purity and conciseness. On the Extreme Yue 07, it not only precipitated the classic elements in the history of automobile design, but also perfectly combined with AI technology, eliminating the complicated components such as the traditional door handle and the laser radar on the roof of the car. It adopted the slip-back design, created rich lines with the golden ratio law, and shaped the appearance of an automobile robot with simple technology and dynamic.

The robotized family-style front face design integrates intelligent interactive lighting system, just like the robot’s eyes, which is highly recognizable and shows a strong sense of future technology. Excellent A-pillar angle and slip-back lines together outline the beautiful outline of "Venus Curve", with high light running through from beginning to end, showing elegance while being dynamic. The rear shoulder fender also adopts a large undulating curve design comparable to super-running, and the stamping depth reaches 373mm, which greatly improves the fullness of the whole vehicle shape and has its own naked-eye wide-body effect.

The curve design close to the extreme of engineering makes the body more in line with the theory of fluid mechanics and obtains excellent aerodynamic performance. With the highly integrated hidden outside sensor, hidden water tangent, and dozens of times of bottom guard plate leveling optimization, supplemented by the whole body aerodynamic suite, the drag coefficient of Extreme Yue 07 reached an astonishing 0.198Cd, leading the same level.

"Good-looking and smart" is the unique highlight of Extreme Yue 07. The iconic handleless electric induction door, intelligent interactive headlights and automatic lifting tail wing have created a brand-new visual sense and brought unprecedented intelligent interactive experience.

The early adopter experience of PPA Zhijia 100 City has evolved beyond V1.5.0 version.

In the era of smart car 3.0, AI technology is the core driving force, enabling smart cars to think and act like people, and to constantly evolve themselves. Based on the comprehensive empowerment of Baidu AI big model technology ecology, Jiyue 01 took the lead in realizing the AI big model "getting on the bus" and pure visual high-order intelligent driving on a global scale, becoming the benchmark of the 3.0 era.

SIMO, which is deeply integrated with AI large model, changes user habits with more natural voice interaction. At present, the daily average voice interaction penetration rate of ultra-Vietnamese users remains at 98%, with an average of about 63 times per car every day. As the representative of pure vision technology in China, about 90% of users are using Extreme Yue PPA Intelligent Driving, and Extreme Yue 01 also won the title of the second China Intelligent Driving Competition NOA Challenge in Beijing.

Since its listing, Extreme Yue 01 has allowed users to "drive new cars every month" at the speed of OTA upgrade once a month. At this auto show, Extreme Yue announced that the new version of V1.5.0 is about to be pushed in full, and PPA Zhijia will have an early adopter experience in 100 cities. Once again, the evolution of Extreme Yue 01 will soon usher in rejuvenation.

NVIDIA Thor blessing car robot "brain" will upgrade 1000TFLOPS.

In order to provide users with a worry-free, convenient and intelligent car experience, the company has established comprehensive ecological cooperation with the world’s leading technology enterprises in the fields of intelligent driving, intelligent cabin, after-sales and energy replenishment, and continuously promoted the application of cutting-edge intelligent technology.

At the Beijing Auto Show, Extreme Yue announced that it will cooperate with NVIDIA to build the next generation of smart cars. From 2026, Jiyue plans to launch mass-produced vehicles equipped with NVIDIA DRIVE? Thor, a new generation of centralized in-vehicle computing platform, to meet the end-to-end intelligent driving needs of the whole scene in the future and bring users a safe and advanced intelligent mobile travel experience. DRIVE Thor will provide high-performance computing power of up to 1000TFLOPS, which will accelerate the evolution of ultra-car robots on the road of high-level intelligence.

In terms of eco-cooperation, Baidu’s network disk has landed on the ultra-car machine, and the small-scale ecology is also interconnected with the ultra-car 01, allowing users to obtain cloud videos, photos and other content anytime and anywhere, and can complete car condition inquiry and remote control at home through the small-scale speaker.

Extreme Vietnam has accumulated 350,000 charging piles, covering 330+ cities across the country. At the same time, it has also reached cooperation with Weilai Energy and Extreme Krypton Energy, focusing on "worry-free travel and free charging". It is fully interconnected with Linklater’s after-sales service system, radiating 120+ cities, and with mobile door-to-door service, it ensures that customers in extreme Vietnam will not panic when they travel all over the country.

　　[Aika Auto Domestic New Car Original]

　　On December 8, 2023, FAW Pentium officially announced the official guide price of the new Pentium B70. The new car has launched two models with a price range of 12.99-13.79 million yuan. At the same time, FAW Pentium also announced the listing rights including cash gift, financial gift, replacement gift, quality assurance gift and flow gift.

　

　　A quick look at the highlights of new cars

　　New appearance and interior design, and the body size is further increased.

　　Equipped with a new generation of car platform and a new generation of D-Life 6.0.

　　Huawei HiCar Internet and Yilian systems cover three mainstream systems: HarmonyOS system, Android system and ios system.

　　Equipped with 2.0T engine and Aisin 6AT gearbox.

　　New car introduction

　　As a mid-term redesigned model, the new Pentium B70 adopts a brand-new family design language of "strength, purity and perfection", and the "layered" front grille adopts a borderless design, which makes the new car look more in line with the aesthetic needs of consumers at the same time. The "flying wing" headlight group is smooth and stretched, with a brand-new brand logo, which makes the front face look full of inductance, with a sense of advanced and technology.

　　The new car also uses more dynamic side lines, and the slip back design further highlights the movement and elegance of the new car. The multi-spoke large-size rim also highlights the sense of movement while highlighting the luxury. The double waistline design makes the side design more layered. One waistline runs from the front lamp group to the taillight group, and with the slightly raised wheel eyebrow lines before and after, it not only enriches the visual layering, but also enhances the sense of movement of the vehicle. In terms of size, the length, width and height of the new car are 4855*1840*1455mm, the length of the car is 45mm longer than that of the current model, and the wheelbase is 2800 mm. It is a standard medium-sized car.

　　The rear of the new car adopts the popular through taillight design, which further extends the visual width of the rear with the times, and the brand subtitle is located under the taillight. This design has more or less improved the grade sense of the whole car, and it meets the aesthetic needs of the moment with the exhaust system of the two sides below.

　　In terms of interior, the new car adopts a dual-screen design with a full LCD instrument panel and a central control multimedia display screen, and is equipped with a penetrating air conditioning outlet, which is very fashionable as a whole. At the same time, the design of the dual-spoke multi-function steering wheel and the suspected toggle shift mechanism also adds a sense of luxury to the interior of the new car. The new car adopts a new generation of car platform, and the software and hardware performance of the intelligent cockpit system and intelligent cockpit are fully upgraded. The main control SOCS adopts industry mainstream chips and 8-core processors, with a computing power of 62.5K, which is smoother without crashing, and the time for hot-start reversing images is less than 1 s. The new car is equipped with Pentium D-Life 6.0 system, with rich in-vehicle applications, and with the blessing of Iflytek 3.5 voice suite, it can realize efficient interaction that can be seen and spoken. In addition, Huawei HiCar Interconnect and Yilian systems cover three mainstream systems: HarmonyOS system, Android system and ios system.

　　The new Pentium B70 is equipped with a 2.0T turbocharged engine and Aisin 6AT gearbox. The maximum power of the power system is 165kW, the maximum torque is 340Nm, and the acceleration per 100 kilometers is 7.86s s..

　　Editor’s point of view: The new Pentium B70 will form an independent three musketeers in the medium-sized car market with Geely Xingrui and Chery Arrizo 8. Compared with competitors, the new Pentium B70 has certain product advantages in size, power and configuration, and it is believed that it will gain a good market share after listing.

Wonderful content review:

Do you really know young people better than young people? Try Pentium T90

Pentium T90 is officially listed at a price of 100,000-146,999,000 yuan.

2023 Shanghai Auto Show: FAW Pentium T90 officially unveiled.