BEIJING, Nov. 19 (Reuters)-On November 17, local time, US House Speaker Pelosi said in an interview with the media that he welcomed US President Trump to visit Congress to defend the confession of the impeachment investigation hearing or give a written reply. On the 18th, Trump posted a message on social media, saying that although he had done nothing wrong, he would "seriously consider" Pelosi’s proposal.

Data map: US President Trump. China News Service reporter Chen Mengtong photo

　　[Responding to the Democratic Party’s challenge to Trump to consider testifying at the impeachment hearing]

　　According to reports, recently, American Democrats continued to promote the impeachment investigation against Trump. Pelosi, the American Democrat and Speaker of the House of Representatives, said that Trump can go to Congress and hand over data that can clear his suspicions. "The president can speak directly in front of the Committee and tell all the truth he wants to say," Pelosi said. If Trump has exculpatory information, it means that his former officials are guilty and should be punished. "We look forward to seeing relevant information."

　　Schumer, the minority leader of the Democratic Senate, agreed with Pelosi’s proposal, saying that if Trump disagreed with the witness’s confession, he should not just tweet, but should take an oath in Congress and allow his subordinates to attend. For the White House to refuse witnesses to cooperate with the House of Representatives, Schumer asked: "What is Trump hiding?"

　　In this regard, Trump posted on social media on the 18th that Pelosi suggested that he testify about this "fake impeachment witch hunt". She also said that I could write it. ""Although I didn’t do anything wrong, I don’t want to make this scam without due legal process credible. But I like this proposal, and I will strongly consider doing it in order to get Congress to concentrate on things again! "

Data Map: Speaker of the House of Representatives of the United States, Democrat Pelosi. China News Service reporter Chen Mengtong photo

　　[The impeachment public hearing will enter the second week, and the US ambassador to the European Union will testify]

　　The first week’s public hearing on Trump’s impeachment investigation has ended. At present, the US House Intelligence Committee is preparing for the second week’s public hearing, and several witnesses including US Ambassador to the European Union Sunderland will attend the testimony.

　　According to reports, William Taylor, the US Acting Ambassador to Ukraine, once said that his assistant heard a phone call between Trump and Sunderland on July 26. Trump asked about the investigation in Ukraine, while Sunderland said that Ukraine was ready to proceed.

　　Taylor also pointed out that Sunderland believes that Trump cares more about the investigation of Biden than Ukraine itself. But later that day, Trump denied this statement. "I have no idea. This is the first time I’ve heard of it.

Data map: US President Trump. China News Service reporter Chen Mengtong photo

　　[Peng Si’s assistant was criticized by Trump for testifying in the impeachment case]

　　According to another report, Williams, assistant to US Vice President Burns’ foreign policy, said in a closed-door testimony in Congress earlier in November that Trump had made a number of "inappropriate" remarks when talking to Ukrainian President Zelensky this summer, some of which involved Trump’s "personal political goals" rather than US foreign policy goals. Williams had heard the conversation between the President of the United States and Ukraine, and her testimony was exposed on the 16th.

　　Trump criticized Williams on Twitter on the 17th, saying, "Tell Williams, no matter who she is, to read two presidential phone calls." He also ridiculed: "She should be with other ‘ Never support Trump ’ People meet, people I don’t know and have almost never heard of, so as to draw up a more effective plan to attack the president! "

　　It is reported that the US Congress will hold five public hearings from November 19th to 20th, among which Williams will attend the hearing on the 19th.

Data map: US President Trump. China News Service reporter Chen Mengtong photo

　　[Poll: More than half of Americans think Trump should be tried and removed]

　　According to the results of the first poll since the relevant hearing of the US Congress, a slight majority (51%) of Americans believe that Trump should be impeached and dismissed for his controversial behavior in the Ukrainian phone door case.

　　According to a joint poll conducted by ABC News Network and Ipsos Group on the 18th, 51% of American respondents said that Trump should be tried and convicted in the Senate. Another 6% are in favor of impeachment, but do not advocate the removal of Trump.

　　According to the survey, after the hearing of the House Intelligence Committee on the 13th, the proportion in favor of impeaching Trump has increased. According to the FiveThirtyEight website, the average results of previous polls show that about 48% of Americans are in favor of removing Trump.

Sammo Hung and his brother, Wang Baoqiang saw him also want to call "big brother", even Xiang Huaqiang comity to him three points, "martial arts child star" Ashton Chen, how strong is the background?

In fact, there are three "backers" behind him.

The first backer is Ashton Chen’s father, Chen Tongshan.

Born in a martial arts family, Chen Tongshan is proficient in black tiger boxing Wushu QiDuan and was awarded the title of "Eighteen King Kong of Shaolin".

He has a good way of doing business. He made a lot of money in real estate in his early days. Now there is a commercial street in Zhengzhou, and the annual rent is not a small sum.

Not only is he proficient in business, but he also teaches his son well.

After Ashton Chen was born, Chen Tongshan thought he was a martial arts wizard.

When he was just two years old, Chen Tongshan sent him to the Shaolin Temple to practice Buddhism and martial arts.

In Shaolin Temple, Ashton Chen is coached by his father, Chen Tongshan.

He is strong-willed, and he treats his son very harshly, which can even be described as cruel.

Although Ashton Chen was only two years old at that time, Chen Tongshan woke him up at 5: 30 every day, dragged him to practice the basic skills of martial arts, ran around Shaolin Temple, and sometimes tied a horse stance just look all morning.

Ashton Chen once played with small stones during his practice. After being discovered by Chen Tongshan, he was kicked in the face.

In order to prevent him from being playful, Chen Tongshan simply tied him with a rope, but Ashton Chen leg press couldn’t hold it down, so Chen Tongshan forced him to press it down. It took ten seconds for the handstand lacing, but in ten seconds, Chen Tongshan didn’t stop for a long time.

Because of strict father’s supervision, Ashton Chen couldn’t be lazy. At that time, his life was nothing but eating and practicing, which made him suffer a lot and even gave him a sense of depression, but it was also the case, which made him outstanding in martial arts.

Chen Tongshan sent his son here because he and Shi Yongxin, the host of Shaolin Temple, are good friends.

Shi Yongxin is also the second biggest backer of Ashton Chen.

After learning from Shi Yongxin, Chen Xiaolong changed his name to Ashton Chen, and gained a high position in Shaolin Temple.

Sammo Hung, who was several rounds older than Ashton Chen, also practiced in Shaolin Temple, but his seniority was not as high as that of Ashton Chen, and he even called him Senior Brother.

Wang Baoqiang also studied in Shaolin Temple. Although they practiced martial arts together when they were young, Wang Baoqiang called Ashton Chen "Shi Shu" according to his seniority.

Apart from these two backers, Ashton Chen’s third "backer" is Wu Dun, who is very powerful in Taiwan.

Wu Dun is the general protector of the Taiwan-Bamboo Gang. He not only runs his own business, but also has a background in Hei.

He and Ashton Chen met because of a movie by Ashton Chen. At that time, Wu Dun was deeply impressed by Ashton Chen after watching his drama, so he wanted to help the child more and took him as his adopted son to be his agent.

When Ashton Chen first entered the entertainment industry, the environment in the circle was particularly chaotic. Jackie Chan was forced to kneel, Jet Li’s agent was killed, and Carina Lau was photographed in luo.

However, no one dared to lift a finger in Ashton Chen, and he was safe and sound in the complicated entertainment circle, which was all because of Wu Dun’s asylum.

At that time, Wu Dun and Xiang Huaqiang were in the same position. Although Xiang Huaqiang could make a splash in the entertainment circle, due to the face of Ashton Chen and michel platini, Xiang Huaqiang had to give three points to Ashton Chen.

Because of this, he can get along well in the entertainment industry, and every film and television work he shot as a child can be called a classic.

He was the hottest child star in the 1990s. At the age of five, he cooperated with the top players in the entertainment circle, and Ng Man Tat, Dicky Cheung and Bidai Syulan all played supporting roles for him.

One of his plays earned millions of dollars, and every play was so popular that it held up half the sky. How smooth was Ashton Chen’s career as a child?

After learning martial arts from Shaolin Temple, Ashton Chen began to contact the entertainment circle.

He first appeared on the stage in 1993. Ashton Chen participated in the "Children’s Spring Festival Gala" of Henan TV Station. Because of his cute image, Changhong Film and Television noticed him, so he signed him to the company to become an artist.

In the same year, he got the chance to star in shaolin popey with Jimmy Lin, Bidai Syulan and other big names, and he also made his debut as a child star.

Ashton Chen was only five years old at that time, and Hao Shaowen, his co-star in the film, was only three years old, but the two stooges made the plot lively and interesting, forming a wonderful "Hao Shi" combination.

Hao Shaowen loves to play with treasures, which is a proper image of the "silly son" of the rich family, while Ashton Chen is the martial arts actor in the film. His martial arts moves are full of strength and momentum, and his fighting capacity is amazing.

In the film, Ashton Chen wears a monk’s costume with a pacifier in his mouth, which successfully created the image of the action comedy "nipple God of War" and became a childhood memory of the 80s and 90s.

The two little actors performed brilliantly, giving full play to their childlike innocence and cuteness, and even overshadowed Jimmy Lin and other big coffees.

Because the film was very successful, Ng Man Tat also collaborated with two child stars in shaolin popey shaolin popey ii messy temple, which brought infinite joy to the audience.

Because of the good beginning, Ashton Chen’s future career also went smoothly.

Before he was ten years old, he co-produced the film loong with Takeshi Kaneshiro, and co-produced with Uncle Da many times. Every play is a household name.

When Ashton Chen was 7 years old, he was also invited to participate in the Hong Kong Film Awards, and as an awarding guest, he presented Jackie Chan with Hao Shaowen.

Until 1999, Ashton Chen starred in "Young Bao Qingtian" series, and the actor who played Bao Zheng changed again and again, but Ashton Chen who played Zhan Zhao did not change. Even the audience ridiculed "Zhan Zhao made of iron, Bao Zheng with flowing water".

It is enough to see how influential Ashton Chen was in the entertainment circle at that time, and it is not an exaggeration to say that he was more popular than Stephen Chow in his heyday.

After the smash hit, Ashton Chen’s "Young Huang Feihong" and "Heroes on Earth Fang Shiyu" again failed to arouse much splash.

With the growth of age, Ashton Chen’s theatrical career became narrower and narrower, and gradually faded out of public view. Instead of continuing to struggle in the industry, he went abroad to further his studies.

In the few years since he left, there are many new people in the entertainment circle, and in the update iteration, there is no place for Ashton Chen.

However, when he first entered the entertainment industry, he was unanimously recognized by the public, and even thought that he was expected to be Jet Li’s successor.

Ashton Chen, a martial arts child star, became a smash hit when he was young. He has the ability and capital, but he still failed to live up to everyone’s expectations and failed to become the next Jet Li. Why?

First of all, their acting experiences are very different.

Although Ashton Chen made her debut early, she has made many popular dramas since she was five years old.

However, there are many restrictions on child stars, and after appearing in many classic works, resources are getting less and less, so they have to go abroad to study.

When Jet Li was young, he established his status as a kung fu superstar with only one Shaolin Temple, and then he successively created classic roles such as Fang Shiyu, Zhang Sanfeng and Huo Yuanjia.

Since then, he has entered Hollywood and appeared in many blockbusters.

In addition, he has won the all-around championship of China Wushu for five years in a row, and his hard power is superior, so the martial arts superstar is worthy of his name.

In addition, Ashton Chen looks cute, and this image is very eye-catching when he was a child.

However, now he is over 30 years old, but he still has a baby face and is still childish in appearance.

In addition, he is gentle and transparent, elegant in speech, and his image makes it difficult for him to play a particularly atmospheric role, which limits his development.

Jet Li, on the other hand, is handsome and handsome, with bright eyes and full of charm. He is an actor with both masculinity and vigor.

At the same time, he has a strong gas field and can hold down the field.

Moreover, Jet Li is committed to realizing his ideal, and he hopes to make Taiji and China Wushu go to the world through his performance and influence.

Therefore, his influence is much greater than that of Ashton Chen.

In addition, the limitation of the times also prevented Ashton Chen from becoming a martial arts superstar.

Since 2000, martial arts films have gradually declined, and idol dramas and time-travel dramas have emerged.

There are more and more idol actors in the entertainment circle, and the audience begins to pursue small fresh meat, while the tough-guy martial arts stars like fewer and fewer people.

Ashton Chen’s film and television market is also getting smaller and smaller under such a wave of the times.

Jet Li lived in a world dominated by martial arts films, and his success can be said to be in the right place at the right time.

Ashton Chen, on the other hand, was different. Apart from these reasons, his family also affected his acting career.

After he became famous, his father, Chen Tongshan, regarded him as a cash cow and set up several martial arts schools, all under the name of Ashton Chen.

Later, in the martial arts school run by her father, a 6-year-old girl was beaten and died after being rescued, which made her inexplicably become a back-to-back man and her reputation was damaged.

Later, he was noticed by the public again because of his love affair. Although he was photographed shopping together, He Jie and Ashton Chen did not disclose this love affair.

The clues found by netizens confirmed that the two were indeed in love.

But later, He Jie said that she was single in the variety show, and she also implied Ashton Chen. From her words, it seemed that her ex-boyfriend had a bad temper, but Ashton Chen didn’t explain it too much.

However, all these have had a certain impact on his reputation.

Now that Ashton Chen has set up his own company, filming has become his hobby.

Although Ashton Chen didn’t follow the public’s expectations and become the next generation of Jet Li, he had no regrets.

I have no childhood, but Ashton Chen has brought countless happiness to a generation.

What do you want to say about this?

Welcome to leave a message in the comments section.

Editor in charge:

Directed by Huang Kai, written by Vencent Yang, starring Xie Miao and Shao Yun, starring Long Yangyang, Li Binglei and Sun Yuanning, and starring Ma Lun and Liu Ximing, the fantasy action movie "The God of War" was officially scheduled to be broadcast on the dual platforms of iQiyi video and Tencent video on March 9.

"Slaughtering the Devil’s God of War" tells the story of the Tianwu continent, where the dark forces awaken again and the witch’s sacrifice is ready to move. In order to prevent this catastrophe, Ke Zhang, Yunyong and Fuxi, sons of Terran God of War, embark on the journey of awakening the sword of God of War again. Yunyong and Ke Zhang are in love with each other on the road of danger, and Ke Zhang also grows into a new god of war in the battle, and awakens the sword of God of War in the ultimate war! The ultimate battle with the inferno wizard festival has begun …

The film man claims that Ke is played by Xie Miao, who is famous as a martial arts child star. He was once known as "Jet Li’s royal son". He has laid a solid foundation in kung fu since he was a child, and his growing superb acting skills are vividly displayed in "Slaughter the Devil". Ke Zhang, the son of Terran God of War in the film, is not gifted. To catch a dead wolf, you need to work together with your brother Fuxi. However, after all the way to fight monsters and upgrade, he gradually woke up and became a new generation of god of war. From a bounty hunter who has no ambition but only wants to be at the top of the bounty list, he has gradually grown into a savior who can afford the sword of God of War. Through Xie Miao’s detailed description of Ke Zhang’s growth path, the film shows the core that ordinary people can become heroes to the public, which fills the audience with a sense of substitution.

"Slayer of the Devil" has an oriental fantasy and gorgeous world view, beautiful scenes of Terran and Phoenix, and a magnificent atmosphere. The rhythm of the story is intense and exciting, and the monster is dead, and it is chased and intercepted all the way; The level setting is novel, strange and mysterious, and the valley of the Oracle, underground volcano and hot phoenix are constantly interlocking. The combination of virtual and real special effects scenes and explosive accumulation of elements bring the audience an immersive and explosive visual experience.

It is reported that the film was jointly produced by Horgos Skyworth cool open Culture Media Co., Ltd. Beijing Meiying Space-time Culture Media Co., Ltd., Shenzhen Heming Culture Media Co., Ltd. Shenzhen Green Exhibition Culture Media Co., Ltd. Shenzhen Naikan Technology Co., Ltd. Zhejiang Tianguang Yingmei Culture Media Co., Ltd. Dianjintang Culture Development (Beijing) Co., Ltd., jointly announced by Shanghai Fanku Culture Media Co., Ltd., and on March 9, Iqiyi video and Tencent video were broadcast on dual platforms, and the war between people and demons was imminent!

Editor in charge:

When our career is stable and our income is gradually "well-off", our originally poor life has also changed a lot, and the car we once yearned for is no longer out of reach. For most people, it is only the beginning to mention cars from 4S shops, and the cost of car maintenance in the later period is the big deal. So what I said today can help us save some money in the future. Now let’s follow Xiaobian to see what it has done.

Let’s look at the appearance of the tank 300 first. The front face of the tank 300 is fashionable and sporty, which makes people unforgettable. Headlights are in line with consumers’ aesthetics, and the details are exquisite. The car is equipped with LED daytime running lights, front fog lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Coming to the side of the car body, the size of the car body is 4760 mm * 1930 mm * 1903 mm. The car adopts dignified lines, giving people a very simple feeling. With large-sized thick-walled tires, the shape is eye-catching. In the rear part, the rear of the car echoes the front face from a distance, and the taillights look very stable. Coupled with the unique exhaust pipe, the sense of neatness is vivid.

Sitting in the car, the interior of the tank 300 adopts a young shape, and the overall shape is remarkable. The car’s steering wheel is very avant-garde, equipped with manual steering wheel up and down+front and rear adjustment, steering wheel heating and other functions, people can’t put it down. Let’s take a look at the central control. The car is decorated with a simple touch-control LCD central control screen, which makes the interior style impressive and the overall design of the central control is remarkable. The dashboard and the seat are equally eye-catching, and the dashboard design is remarkable and very eye-catching. The car uses leather seats, which are wide and thick and very comfortable to ride.

Tank 300 is equipped with car networking, driving mode selection, remote control key, Bluetooth key, rear wiper, interior atmosphere light and other configurations, which is worthy of praise.

OK！ Next, let’s sum up. The tank 300 introduced today is not only eye-catching in space, but also has reached the mainstream level in various configurations, and there is nothing to be picky about driving experience and space experience.

　　In the history of automobile development in China, the red flag is always the most colorful one. Since its birth in 1958, no car brand, like the red flag, has been integrated with strong national feelings. It is the initiator of China car and the witness of China’s booming industry for decades. Just mentioning this name is enough to evoke the memory of most Chinese people, as if the once magnificent picture reappeared in front of them.

　　In the hearts of Chinese people, the red flag is a symbol of national spirit, and this connotation is contained in the design concept of red flag products from generation to generation.

　　From 0 to 1: The Red Flag brand begins here.

　　In 1949, the newly established New China was in great need of development. In 1953, the first automobile factory broke ground in Changchun, and China’s automobile dream officially set sail. In 1957, the State Council No.1 Ministry of Machinery Industry officially assigned FAW the task of producing cars. Just one year later, China’s first domestic car was born, named "Dongfeng" CA71, which became the predecessor of Hongqi brand car.

　　Since then, in order to build more advanced car products, after five improvement tests from August 1958 to May 1959, Hongqi CA72 limousine was officially born, becoming the first product since the appearance of Hongqi brand.

　　CA72 has national characteristics and the spirit of the times in modeling design. It has a ship-shaped body with its head held high, symbolizing that the new China has finally stood up and is about to hold its head high and stride forward. The front grille adopts the traditional fan shape of China, and the design of the rear headlight is inspired by the ancient palace lanterns in China, which symbolizes the cultural heritage. The car logo is a red flag, and the side logo is a five-sided red flag that embodies "workers, peasants, soldiers and businessmen"; The interior is made of national arts and crafts, the instrument panel and window frame are made of Fujian lacquer and red treasure sand, and the warm interior, brocade sofa fabric, silk ceiling material and hand-made carpet reflect the strong Chinese cultural color and exquisite car-making skills from the outside to the inside.

　　The birth of CA72 greatly enhanced the self-confidence and pride of the people in China, and the Red Flag sedan became famous at home and abroad. In 1960, Hongqi car represented China at the Leipzig International Expo, which was included in the World Automobile Yearbook of that year, and thus Hongqi became a world-class car. Since then, Red Flag cars have appeared in various national important occasions and become the witnesses of the rapid development of New China.

　　In 1959, at the celebration of the tenth anniversary of the National Day, two red flag review cars and six red flag cars participated in the military parade and parade. Since 1962, the "Red Flag" car has officially undertaken the task of receiving foreign guests; In 1964, Hongqi was designated as the national concierge car, and served to receive the visits of many heads of state to China.

　　In the years that followed, the red flag, in the name of "national car", has carried countless leaders and meritorious deeds, and has also witnessed the unremitting efforts of generations.

　　New red flag, new inheritance

　　Time passes, and glory will last forever. In 2018, China’s industry has bathed in the spring breeze of reform and reached a new climax, and China’s automobile market has also become the largest and fastest-growing automobile market. Cars are no longer a "rarity" 30 years ago, but have already entered the homes of ordinary people.

　　The new era calls for a new national automobile brand. On January 8th, 2018, China FAW released the brand strategy of New Red Flag, with the brand concept of "Chinese New Noble Refinement", which opened a new chapter in the revitalization of "New Era, New Red Flag".

　　In the brand concept of the new red flag, "new nobility" is the core, which refers to the noble moral sentiment that is integrated into the advanced cultural connotation of China on the basis of the excellent traditional culture of China. At present, China has entered a new era, and "new nobility" is a prominent display of national cultural self-confidence and enterprising spirit, as well as an important responsibility for national justice. The red flag of the new era once again engraved the national spirit in the brand gene.

　　Under the brand-new background and brand concept, the new red flag adopts a brand-new design language-with "Shang Zhi Yi" as the core, expressing feelings freely and fully deducing "Chinese new noble exquisiteness".

　　The concept car displayed by the brand on the same day is the concrete expression of the brand-new design language of the new red flag: the grille of "alpine waterfalls, mainstay", the through-going flag of "flowing mountains and rivers, shining red light", the headlights of "dreams stirring and flying with wings", the waist of "holding your head high and flying with flags", the wheel logo of "colorful and fixed on the sea" and "the needle of God" In the following years, the brand-new design language of the new red flag was applied to brand-new models such as H5, HS5, H9 and so on. With the sales miracle created by the new red flag, it approached more and more consumers in China.

　　Let the ideal fly

　　In January, 2020, it made its official debut at the New Red Flag Brand Festival. As an epoch-making product integrating the latest design concept and forward-looking technology of Hongqi brand, H9 is the most concentrated embodiment of the new Hongqi spirit. In design, it deeply restored the design concept of "paying tribute" in the previous concept car. The straight waterfall grille is like a mountain waterfall, flowing down and solemn; Through flag, bright color, high recognition; The body curve with high front and low back is elegant and slender, with extraordinary momentum; The cockpit interior design of "Oriental Artistic Conception" is full of rich China cultural color, exquisite and luxurious.

　　Besides H9, under the design concept of "paying tribute to others", Hongqi has shown different interpretations of brand-new design language in products such as HS7, HS5 and H5.

　　On Hongqi E-HS9, Hongqi’s first full-size intelligent pure electric SUV, the design language of the new Hongqi has undergone a new evolution. Mighty, future and harmonious, these keywords are not only the feelings brought by the ultimate modeling design of this product, but also reflect the attitude of China people who are facing the future, more energetic, do their best and dare to compete for the first place.

　　In September this year, the annual sales volume of Hongqi brand exceeded 200,000 vehicles in 2021, reaching this milestone three months earlier than last year and continuing to maintain a good development trend. The new red flag is moving from "the first luxury car brand in China" to "the first luxury brand in China and the world famous", and it is full of ambition and sonorous steps.

　　What changes is design, data, and unchangeable, which is the mission of Hongqi to develop China automobile industry, the eternal inheritance of Chinese culture, and the spirit of the times that China people struggle endlessly.

　　The red flag will surely make China people’s ideals soar and make China consumers’ dreams of "a better life and a wonderful trip" come true.

　　 On May 29th, Aika Automobile was informed that in Shanghai MG Live! At the scene of China 2021, MG officially launched XPOWER, a sub-brand of personalized sports modification, positioning itself as the official modification leader of China automobile industry. MG XPOWER will provide two main original factory modifications, namely Master Edition and Co-creation Edition, and build a racing-grade high-performance TCR racing series according to the requirements of TCR competition, and provide the official certification kit of MG XPOWER.

　　 At the same time, the ——MG6 XPOWER, the first mass-produced model of the MG XPOWER family, also officially opened for pre-sale, with a monthly limit of 100 new cars. According to the official, from now on, as long as consumers pay 9.9 yuan’s intention money through MG Live APP, they will be eligible for booking, not only have the opportunity to give priority to the unique number of the owner, but also get 100,000 track dream points. On the 1st and 15th of each month, MG will select 50 users who can buy cars first from the rush list. The first batch of users will be announced on June 1. In addition, a variety of XPOWER original modified accessories will be launched in MG Live APP and the official flagship store of Tmall SAIC MG, providing consumers with more and more personalized modification options.

Mg mg6

　　 In terms of appearance, MG6 XPOWER adopts the design of sports spoiler, and presents the design of flow source polar-burning racing front grille, LED digital light rail headlights, "X" blackened sports taillights, all-carbon fiber extremely light tail, double-row and double-outlet pneumatic diffusers, etc., which highlights the sports style.

　　 In terms of interior, MG6 XPOWER is dynamic and textured. The overall interior is designed with contrast stitching, and the strong contrast between green and gray highlights its pure track genes. Three-spoke multi-function steering wheel, covered with ALCANTARA material, gives drivers a good grip on sports. The interior panel of the whole door is made of high-end suede to create a high-quality touch.

　　 In terms of driving control, MG6 XPOWER is equipped with a direct-injection turbocharged engine and a high-power permanent magnet synchronous motor in SAIC’s "Blue Core" 20T Trophy cylinder, matching the second-generation 10-speed EDU intelligent electric drive gearbox, with a maximum power of 224kW(305 HP) and a peak torque of 480Nm, and the acceleration of 100 kilometers takes only 6 seconds.

　　 The MG6 XPOWER will also be equipped with a variety of race-level configurations. The 6-piston XPOWER calipers for competition match the performance of the chassis, enhance the braking strength and accuracy, and make the braking distance of 100 kilometers reach 33 meters. The tires are made of Michelin high-performance semi-hot-melt tread tires imported from France, which bring the ultimate grip and precise steering control. Matched with the tire is the racing grade X forged rim, which can improve the strength and reduce its own weight, prolong the service life, and improve the ventilation and cooling efficiency by 12%. In addition, MG6 XPOWER adopts a newly designed and debugged spring stabilizer and suspension elastic elements, showing excellent rigidity and durability. Sports car-class single-tube rear shock absorber, high inflation rebound force, low hysteresis, fast response, to meet higher control requirements. Many details show the genes of the track.

When our career is stable and our income is gradually "well-off", our originally poor life has also changed a lot, and the car we once yearned for is no longer out of reach. For example, this car is often mentioned as a space problem. Let’s take a look at it together.

Let’s take a look at the appearance of Jetway X95. The front of Jetway X95 looks very simple and generous, and it is equipped with a lattice mesh, which looks more atmospheric. At the same time, the headlights present a dignified design style and are full of calmness. The car is equipped with LED daytime running lights, automatic opening and closing, delayed closing and so on. Coming to the side of the car, the body size of the car is 4858 mm * 1925 mm * 1780 mm. The car adopts full lines, and the side of the car presents a dignified design style. With large-sized thick-walled tires, it looks full of movement. In terms of the rear end, the rear end echoes the front end, the taillights present a unique design style, and the exhaust pipe uses a bilateral single-outlet design, creating a good gas field.

Sitting in the car, the interior style is very elegant, which is consistent with the positioning of the car. The steering wheel design of this car is very avant-garde, made of leather and full of design sense. Take a look at the central control, with the 12.3-inch touch-sensitive LCD central control screen, so that the interior design is quite layered, in line with mainstream aesthetics. The dashboard and the seat are equally eye-catching. The dashboard of the car presents a rounded design style, which is very round and lovely. The car adopts leather-like seats, and the seats are wrapped in place, which improves the riding experience of drivers and passengers.

The Jetway X95 is matched with a wet dual clutch (DCT) gearbox, with a maximum power of 145KW and a maximum torque of 290N.m, with good power performance.

The performance of Jetway X95 trunk space is relatively good, the opening size is in line with the positioning of its family car, and the family’s storage needs can be met. At the same time, the car is equipped with anti-lock braking system (ABS), LED daytime running lights, brake assist (EBA/BAS, etc.), braking force distribution (EBD), traction control (ASR/TCS, etc.), main driver airbag, co-pilot airbag and front side airbag.

After reading this car, I believe you have a general understanding. The car with moderate size is a very suitable choice for many families, and the internal space is enough for daily use in families.

Today, Xiaobian chose a car in a medium and large suv and introduced it to everyone. It is. Next, let’s take a look with Xiaobian.

Let’s take a look at the appearance of the zero-run C16. The front face of the zero-run C16 is sharp and looks very clean and refreshing. Coupled with the soft headlights, it is full of comeliness. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Coming to the side of the car body, the size of the car body is 4915MM*1905MM*1770MM. The car adopts stable and atmospheric lines, which gives people a very soft feeling on the side. With large-sized thick-walled tires, the overall visual effect is very delicate. In terms of the rear end, the rear end echoes the front face, and the taillights are very angular and exquisite in shape.

Coming into the car, the interior style is very young and rich in functions. The steering wheel of the car is very in line with the interior style, made of leather, and the visual effect is good. Let’s take a look at the central control, which is decorated with a 14.6-inch central control screen, which makes the interior design quite layered and looks scientific and technological. Finally, let’s look at the dashboard and seats. The dashboard design is remarkable and the sports atmosphere is relatively in place. The car adopts leather-like seats, and the seats are wrapped in place, which improves the riding experience of drivers and passengers.

The zero-run C16 is equipped with a motor with a total power of 215KW and a total torque of 360N.m It has good acceleration, excellent cruising range and good power performance.

The regular space performance of C16 trunk is quite satisfactory, and there is no problem in daily use. At the same time, the car is equipped with fatigue warning, anti-lock braking (ABS), LED daytime running lights, brake assist (EBA/BAS, etc.), brake force distribution (EBD) main driver airbag, co-pilot airbag, side airbag curtain, front side airbag and other safety configurations.

To sum up: the model class introduced today is the most considered class when many people buy their first car, mainly because the model of this class is moderate in size and reasonable in price.

As a new generation of Honda XR-V built by Honda family, this car is absolutely very attractive, and the overall route is round. The overall design of the car continues the family design concept, the front face looks harmonious, the sharp headlights on both sides, and the internal light groups are patchy, and they are bright when lit. Judging from the side waistline, the new car is still an excellent streamlined body, and the tradition of wide C-pillar can be continued. In the rear body part, Honda XR-V adopts many popular design elements, and the design of through taillights is also interesting, which is very personalized after lighting.

In the interior of all-black design, the new car adopts Honda’s latest design style and layout, which is very young and dynamic as a whole. The chrome-plated steering wheel is covered with a large area of plastic, which brings a good sense of luxury and makes people feel full of power when driving. The central control is made of soft plastic, and the materials and workmanship look quite satisfactory. The 8.0-inch central control screen is simple but fully functional in screen design, and the front row is also equipped with a manual air conditioning control system, allowing you to freely debug the most comfortable space atmosphere. At the same time, the new car also provides leather seats, which can bring certain comfort.

Honda XR-V has a length of 4380mm, a body width of 1790mm and a wheelbase of 2610mm, which is quite satisfactory. In the same class, the wheelbase of Honda XR-V ranks 88th. This size exceeds most models in its class. The actual interior space performance is also very good. From the actual ride experience, the front and rear rows are relatively spacious. The sunroof of Honda XR-V1.5L Love Edition provides a wider field of vision, which can create a better visual environment and good sensitivity for the rear passengers and increase the light entrance for the whole vehicle. Among the models of the same price and class, the trunk volume of Honda XR-V ranks 92nd. It can basically meet the luggage space for family travel. But there is no extra hidden storage space.

Honda XR-V1.5L Love Edition uses a 1.5 engine, with a maximum horsepower of 124 and a peak torque of 145, matching the CVT gearbox. It will definitely bring unforgettable control charm. Ranked third among 80,000-120,000 SUV models.

The active/passive safety configuration of Honda XR-V is complete, includingAutomatic parking、Zero tire pressure endurance tire、Automatic parking、Steep slope descent、hill start assist control、knee airbag、HUD head-up display、Anti-lock braking (ABS)、Braking force distribution (EBD/CBC, etc.)、Brake assist (EBA/BAS, etc.)、Traction control (ASR/TCS, etc.)、Active noise reduction、Engine start and stop、Side safety air curtain、Wireless charging of mobile phone、night vision system、LED daytime running lights、Forward reversing radar、Tire pressure monitoring、Steering wheel heating、Body stability control (ESP/DSC, etc.)、Rear reversing radar、Fatigue reminder、Remote parking、Child seat interface、Lane keeping (LKAS)Equal configuration.

Among them,Automatic parkingYou can avoid stepping on the brakes for a long time or needing to pull frequently;Steep slope descentCan safely pass through steep slope road conditions at low speed;knee airbagReduce the injury of the car interior to the occupant’s knees in the secondary collision.

If the above data and participation can’t fully understand Honda XR-V, then we can give you a more comprehensive reference based on the word-of-mouth information of users who have purchased Honda XR-V in history. It can be seen that what everyone is most satisfied with Honda XR-V is that its steering wheel has texture, and the comfortable sitting and the shape I like are also the points that everyone likes it.

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.