Lynk & Co’s flagship SUV, the new 09EM-P, launched two six-seat and two seven-seat models, priced from 307,800 yuan to 347,800 yuan. It is understood that the new car has been improved in terms of chassis materials, handling performance, space comfort and safety performance. So, which model is more suitable for purchase?

　　The new 09EM-P inherits the family classic design of the Lynk & Co brand "Urban Opposition Aesthetics". The middle grid grille that occupies a large area of the front of the car adopts a straight waterfall design, which has been blackened and treated with luxury and visual impact. The headlight group still adopts the iconic and sharp split design, which has a good recognition after lighting. There are large-size air intakes on both sides of the front of the car. The interior is embellished with chrome-plated trims to enhance the texture of the front face. The side shape of the new 09EM-P is very tough, and the rich line design presents a good light and shadow effect. The segmented waist line design is matched with blackened decorative pieces around the windows, which has a strong sense of movement. On the tail side, the taillight adopts a through design, and the layout of the internal light group module is more personalized. The exhaust layout is concealed and a bright black diffuser is added.　 　

　　Entering the car, the panoramic island cockpit reflects a symmetrical beauty. The 12.3-inch smart LCD instrument is paired with a 15.4-inch central control screen, which has a good sense of technology. In terms of power, relying on the Lynk & Co EM-P super range-extended electric solution, the new 09EM-P is equipped with 2.0T + 3DHT + three-motor layout. The maximum output power of the power system is 408kW, and the maximum output torque is 844N · m. It can achieve a CLTC pure electric cruising range of 190km, and a CLTC comprehensive cruising range of up to 1430km. The whole system is equipped with FYRA-E intelligent electric four-wheel drive system as standard, providing 7 dynamic driving modes.

　　The seven-seat version of the new 09EM-P has two models, namely the seven-seat PLUS and the seven-seat PRO, priced at 307,800 yuan and 317,800 yuan. The two models have little difference in configuration, mainly reflected in some comfort configurations and atmosphere creation.　

　　Specifically, first of all, in terms of safety, the seven-seat version comes standard with front dual airbags, front side airbags, head air curtains (one row to three rows on the side), RP roll protection system, front pre-tightening force-limiting seat belts, ESP9.3 HEV body stability control system, CBC curve control system, DTV dynamic torque control system, ARP anti-roll protection system, front/rear parking assistance early warning system, 360 ° panoramic imaging system, 180 ° transparent chassis system, steering assistance image, and vehicle theft reminder and tracking. In terms of intelligent driver assistance system, the car is uniformly equipped with 1 forward camera, 1 rear camera, 4 surround view cameras, 5 millimeter wave radars and 12 ultrasonic radars. Other features come standard with DAC driver fatigue warning system, DMS driver status monitoring system, TSR traffic sign recognition system, FCW forward collision warning system, AEB active emergency brake assist system (with pedestrian identification), CVW vehicle rapid approach warning system, RCTA rear lateral oncoming warning system, TAA car active deflection system, etc. In the external configuration part, the new 09EM-P comes standard with AFS headlight follow-up steering system, ADB intelligent matrix high beam control system, AHB-C intelligent far and near light control system, adaptive headlights (low beam mode adjustment), sliding openable panoramic sunroof, first row of double-layer sound insulation glass, second row of double-layer sound insulation privacy glass, third row of privacy glass, electric trunk tailgate, exterior rearview mirror electric folding & heating & memory, etc.

　　Internal configuration part, the new car comes standard with leather multi-function physical button steering wheel, automatic anti-glare frameless rearview mirror, NAPPA leather seat, electric 12-way main and passenger seat adjustment (including 4-way electric waist rest), main driver seat memory function, front seat heating & ventilation function, dual temperature zone automatic air conditioning, passenger compartment PTC heating, glove box refrigeration function, active cockpit cleaning system, rain sensing integrated water spray system wiper, rain sensing sunroof & window closing, keyless entry & start system, 12.3-inch smart LCD meter, 15.4-inch central control screen, high fidelity audio (10), car 5G network, car Wifi hotspot, four-tone area voice interaction system, mobile APP remote control system, mobile phone wireless charging function and other configurations …　 　

　　In terms of specific differences, the seven-seat PRO is 10,000 yuan more expensive than the seven-seat PLUS version. The electric adjustment of the main and auxiliary seats is upgraded from 12 to 16 (including 4-way electric lumbar support + flank support + seat cushion extension). The number of high fidelity audio is increased from 10 to 14 and adjusted to BOSE luxury audio. There are more front seat massage functions, second-row seat heating functions, AQS air quality management system, 12.8-inch full-color W-HUD head-up display, ANC active noise reduction system, streamer coral ambient light, and high definition driving recorder.　

　　In addition, the seven-seat PRO version can also be selected to the performance package, which includes dual-cavity air suspension, CCD continuously adjustable electronically controlled vibration damping system, multi-function electronic sun visor, main driver motor pre-tensioned seat belt, exterior rearview mirror welcome light, exterior rearview mirror automatic anti-glare – main driver side, NAPPA leather steering wheel, steering wheel electric four-way adjustment & heating & memory, rear passenger seat electric adjustment, front foldable aviation headrest, third-row seat electric folding and recovery, four-temperature zone automatic air conditioning, PM2.5 air quality detection system, Ocean Mystery fragrance system, second-row door side sunshade, and second-row air conditioning control screen.　 　

　　The six-seat version has six-seat HALO and six-seat ULTRA models, priced at 327,800 yuan and 347,800 yuan respectively. On the basis of the configuration of the seven-seat PRO version, the six-seat HALO adds the pre-tensioned seat belt of the main driver motor, the welcome light of the outer rearview mirror, the automatic anti-glare of the outer rearview mirror – the main driver side, the electric four-way adjustment multi-function steering wheel, NAPPA leather steering wheel, steering wheel heating & memory, the electric leg support of the passenger seat, the memory function of the passenger seat, the function of one row of two rows to form a bed, the electric adjustment of the rear row of the passenger seat, the small table board of the rear row of the passenger seat, the ventilation & massage & lumbar support function of the second row of seats, the electric folding and recovery of the third row of seats, the automatic air conditioning in the four-temperature zone, the PM2.5 air quality detection system, the ocean mystery fragrance system, the second row of door side sunshades and the second row of air conditioning control screens.

　　In terms of the adjustment of the main and auxiliary seats, the six-seat version is equipped with the main driver electric 12-way (including 4-way electric waist support) and electric 14-way (including 4-way electric waist support + 4-way electric leg support), and the second row of seat adjustment is electric 4-way. Finally, look at the six-seat ULTRA model. As the top model, this car has only more CCD continuously adjustable electronically controlled vibration reduction system and dual-cavity air suspension system than the six-seat HALO version.

　　Since consumers have their own needs for the purchase of the seven-seat version or the six-seat version, the two versions can be purchased on demand. Specific to the model part, among the seven-seat versions, the PRO model has a higher technological configuration and a sense of luxury atmosphere. Consumers who pursue these two points can choose this model. After all, the price difference of 10,000 yuan is more cost-effective. If you only want seven seats, the PLUS version is enough for daily use if other functions don’t matter; and in terms of the six-seat version, the configuration of the two models will be richer. If you want air suspension, you can directly choose the ULTRA model. (Source: Lynk & Co Automotive)

A few days ago, the old photo of Dong Mingzhu and Lei Jun attending the meeting together became popular again. Dong Mingzhu in the picture "asked" Lei Jun: Just you? Can you also make air conditioners? Can you turn on air conditioners? Lei Jun silently responded to the Xiao Ai speaker: Xiao Ai, turn on the Mijia Internet air conditioner and turn off the Gree air conditioner!

It has to be said that Lei Jun and Xiaomi, who did not let go of any explosive points, launched the marketing copy of air conditioners to cater to the hearts of the people who love to watch the fun.

As expected, the next day, Xiaomi officially released the Mijia Internet air conditioner. This air conditioner labeled Mijia adopts Xiaomi’s commonly used pricing method: 1.5 horsepower, three-level energy efficiency standard, retail price of 1999 yuan, which is about 1,000 yuan cheaper than the big brands Gree and Midea congeneric products on the market, and the public test price is only 999 yuan.

It was still Lei Jun’s familiar formula and Xiaomi’s familiar taste.

01

A mysterious air conditioning company

"For this Mijia air conditioner, Xiaomi has started to form a team in the first half of last year, looking for OEM foundries, designing product prototypes, and also buying our air conditioner data reports," Dong Min, vice-president of Aowei Cloud Network, which provides information services, told AI Finance Agency.

Xiaomi’s air-conditioning business has always been in charge of Xiaomi’s ecological chain enterprise Zhimi Technology. The company responsible for the research and development and production of Xiaomi air-conditioners is a company called Zhuhai Sanyou.

From the industrial and commercial registration information, the legal representative of Zhuhai Sanyou is Liu De, the co-founder of Xiaomi and the head of Xiaomi’s ecological chain. The shareholder of Zhuhai Sanyou is Beijing Xiaomi Mobile Software Co., Ltd., with a 100% shareholding ratio. In short, Zhuhai Sanyou is a wholly-owned subsidiary of Xiaomi.

A point person in Zhuhai Sanyou’s business is Xiao Youyuan. He was originally a senior executive of Gree, worked in Gree for 10 years, and was also a trusted person of Dong Mingzhu, who was in charge of Gree’s overseas business. In 2015, Xiao Youyuan was poached by Skyworth with his team and participated in the establishment of Skyworth Air Conditioning. Hundreds of Skyworth Air Conditioning people came from Gree that year.

Xiao Youyuan, who participated in the founding of Skyworth Air Conditioning

From the industrial and commercial registration information of Zhuhai Sanyou, Xiao Youyuan and the team worked in Skyworth for two years, and soon took the team to the wholly-owned subsidiary of Xiaomi, "because Skyworth and Gree have very different corporate cultures."

"As a private enterprise, Skyworth is used to’small input and big output ‘, while the Xiao Youyuan team from Gree has a style of’big work and fast work’." A person familiar with the matter told AI Finance Agency. In addition, Skyworth air conditioners encountered the "Little New Year" of air conditioners at the beginning, and their performance was not good. Gree and his group were gradually emptied of Skyworth air conditioners.

Xiao Youyuan’s team, who joined Xiaomi’s subsidiary, brought "Gree Feng" to Xiaomi. Wu Wei, who has visited the Sanyou production line and is also a supplier of air-conditioning components, told AI Finance Agency that Sanyou is a mysterious company, but "the solution is almost the same as Gree". For example, the MCU (microcontroller) is made by Texas Instruments, a large American manufacturer, the module is made by Fuji or Mitsubishi, and the IPM (intelligent power module, responsible for frequency conversion) is made by Ruineng.

"Everyone in their company seemed to be holding their breath. After Gree came out to Skyworth, Gree issued a ban order, and all Gree suppliers were not allowed to supply Skyworth. The team gambled so much and was finally washed out by Skyworth," Wu Wei said.

The team was eventually recruited to Lei Jun.

However, Wu Wei revealed that Sanyou currently has only two production lines of its own, and its annual production capacity is "only a few hundred thousand units". Therefore, in May 2017, Zhuhai Sanyou and Zhongshan Changhong jointly funded the establishment of Zhongshan Hongyou Electric Appliance Co., Ltd., with Zhongshan Changhong holding 60% and Zhuhai Sanyou holding 40%. It should be noted that Changhong is the foundry of Zhimi air conditioners this time.

According to people familiar with the matter, Xiaomi’s foundry is not in Mianyang, Changhong’s headquarters, but in Nantou Town, Zhongshan, not far from TCL’s headquarters.

02

Lei Jun’s obsession

This is the third time Lei Jun has tried to make air conditioners.

The first dates back to three years ago. When Lei Jun first entered the air-conditioning industry, he chose to cooperate with Dong Mingzhu’s old rival, Midea. This immediately annoyed Dong Mingzhu and directly accused the cooperation between the two sides as "two scammers together, a group of thieves". At that time, Midea had just been ordered by the court to compensate Gree 2 million yuan for stealing Gree’s patents.

But this Youth series air conditioner, priced at 3,099 yuan, did not cause much splash. The selling point at that time was that it was used in conjunction with the Xiaomi Mi Band, which could be set to automatically turn on when you go home, and automatically enter sleep mode when you feel you fall asleep.

Youth series air conditioner

Perhaps deliberately to highlight Xiaomi’s "Internet thinking" in the limelight, there is no display panel on the surface of the air conditioner. This means that if users want to know the temperature of the air conditioner in the room, they need to open their mobile phone, check the app or pick up the Xiaomi bracelet. This incredible design appeared in the first generation of products. Fortunately, this is the only cooperation between Xiaomi and Midea in the field of air conditioning.

"It’s impossible for Midea to raise competitors," says one air-conditioning supplier. In fact, Xiaomi decided to invest in Midea at the end of 2014, paying nearly 1.30 billion yuan for a 1.29% stake. But the shareholding relationship has not alleviated the conflict between the two sides in real business.

Millet’s tentacles have already extended to rice cookers, electric fans, water purifiers, electric kettles, cooking machines and many other small household appliances. This is Midea’s territory, which will inevitably lead to fierce collisions, and it is impossible to expect that Midea will be willing to help Xiaomi produce air conditioners. However, from an investment perspective, Midea’s share price has doubled in the past three years, and Xiaomi’s investment in Midea has been very successful, earning a lot of money.

The second time Xiaomi launched an air conditioner was in 2017, which was developed by Zhimi, a wholly-owned subsidiary of Xiaomi. The minimalist design of this air conditioner has also won international design awards, and this design style has been carried over to the current Mijia air conditioner.

However, the price of the Zhimi air conditioner at that time was as high as 4,399 yuan. Although Su Jun, CEO of Zhimi Technology, said that there was almost no profit, such a high price did not have the pricing style of Xiaomi at all. Now the air conditioner has been removed from the Xiaomi mall.

Interestingly, in order to explain that his 4,399 yuan air conditioner was a conscientious price, Su Jun reported at the time that the quality of the current air conditioner was worse than that of more than ten years ago. "The original material was very solid, but now it is loose, and there are recycled materials in it. You don’t even need to open it, and you can feel the huge decline in quality just by the shell itself."

He said that Zhimi can also make its products cheaper than some 999 yuan air conditioners on the market, by using some inferior materials or even recycled materials to cut costs. "But that’s not something we can guide the quality of life of ordinary people, it doesn’t make sense."

But coincidentally, this time, the price of Mijia’s Internet air conditioner was exactly 999 yuan. However, it was embarrassing that the first user to get the goods couldn’t wait to hang the Xiaomi air conditioner on a second-hand trading platform on the same day.

03

Mi Ge Gree’s life?

What makes Lei Jun envious is that Dong Mingzhu’s Gree air conditioner profits are astonishingly high.

Chen Hang, chief analyst at Southwest Securities, told AI Finance Agency that Gree’s gross profit margin for air-conditioning products is above 35%, which is unusual in the home appliance industry known for price wars. Midea’s gross profit margin is slightly worse. But it is much higher than Xiaomi’s 10% gross profit for mobile phones.

High profits mean there is room to be compressed. This is also the direction of Xiaomi’s revolution, improving efficiency and reducing circulation costs.

This time, the air conditioner of Mijia brand, whether it is the price strategy or the product itself, looks much more reliable than the previous two times. But Dong Mingzhu has never been easy to bully. When Lei Jun entered the mobile phone market, it coincided with the market being on the eve of the transformation to smartphones, and the timing was excellent. But the air conditioner industry is relatively stable, the technology has existed for hundreds of years, and the market structure and corporate rhythm are quite stable.

Mijia air conditioner

"Gree will not be killed." Chen Hang analyzed that unlike other household appliances, air conditioners need to be installed, and one of Gree’s moats is a team of highly efficient ground installers. "Xiaomi will not have much impact on the giants in the short term."

"The competition of air conditioners is nothing more than the competition of brands and after-sales services." Lu Jianguo, deputy chief engineer of the Home Appliances Research Institute, also believes that now Xiaomi air conditioners are all new machines and have not yet reached the after-sales link. Users can take their mobile phones to the store for repair, but the air conditioner needs to be repaired at home, which will test the after-sales team of Xiaomi air conditioners.

Dong Min, vice president of Aowei Cloud Network, also expressed his concerns. Air conditioners are financial products. They are produced in winter and sold in summer, and they need to pay a lot of money in advance to stock up. To a certain extent, stocking up is also a gamble on the weather, and sales immediately rise in hot weather.

Dong Min was deeply impressed that when the weather was hot a few years ago, whoever had installers sold their air conditioners well. And this requires a huge ground force, which is not what Xiaomi is good at.

The bigger challenge comes from the supply chain. Back then, Xiaomi suffered a loss in the mobile phone supply chain and had been in short supply. Lei Jun went to South Korea to meet the boss of Samsung Electronics, hoping that the other party could guarantee the supply of mobile phone screens.

The risk of the supply chain is increasing in the air-conditioning market. The routine of these traditional large manufacturers is to build a huge capacity scale advantage first, and then firmly control the supply chain, especially the core components such as compressors, and finally achieve a stable market structure and profit margins.

"Compressors are a seller’s market," said Zhang Jie, a supplier of air-conditioning components. Gree and Midea produce their own compressors.

Zhang Jie revealed that there is a shortage of inverter compressors this year, and many air conditioner manufacturers have reduced production as a result. "Key components have been out of stock from this year to next year, so compressor companies must protect big factories, not millet."

AI Finance Agency learned from people familiar with the Xiaomi ecological chain that in order to get the upstream supply chain of air conditioners, Xiaomi paid a lot of money to obtain air conditioner compressors and IPM module parts. "They need to take out 30-4 billion to the compressor company to book the production capacity, which is equivalent to the table fee."

Dong Min believes that the air-conditioning business is designed and defined by Xiaomi in the short term, and Changhong conducts OEM OEM, because Changhong has a large volume and has the voice over, but according to the laws of TV and mobile phones, Xiaomi will definitely purchase and customize some important components in the future.

Zhang Jie was also a little surprised that Xiaomi chose Changhong OEM. "Changhong’s production line is relatively old, and it can’t be compared to the big factories." Changhong bought Meiling and Huayi in 2005 and 2007 respectively. Meiling is mainly responsible for the production of air conditioners and refrigerators in Changhong, while Huayi specializes in the production of compressors.

But in Zhang Jie’s opinion, Changhong’s Meiling air conditioners are not mainstream in the industry. The first echelon is Gree and Midea, the second echelon is Oaks, and the third echelon is Chigo, Haier, and Hisense. Meiling is outside these echelons.

Compared with the melee in the color TV market, the competition landscape of the air conditioner market is very clear. Gree and Midea firmly control the first camp of the market, and the two together occupy more than 50% of the market share. The remaining Oaks, Haier, Hisense, etc. have only a small market share.

"Xiaomi must have harvested the second and third camps first," Dong Min said. "Consumers have brand loyalty to the top few, but they have no impression of a lot of brands behind."

Asked in an interview with Mr. Dong in July what she thought of Xiaomi’s entry into the air-conditioning market, Mr. Dong understated: "We make it ourselves, they produce it under brand names. We are hardly on the same track, and we are not an industry type."

In fact, Dong Mingzhu had already reached for the mobile phone, while Lei Jun reached for the air conditioner. This was the lifeblood of the two families. When entering the other’s area of expertise, whether it was Lei Jun or Dong Mingzhu, their performance was difficult to satisfy.

04

Broken halberd "empty ice wash"?

Lei Jun "rose to the challenge", not just the bet with Dong Mingzhu, but the performance pressure may be a more important consideration for him to build air conditioners.

The Xiaomi Ecological Chain is a grand vision that Xiaomi has painted for the capital markets. In 2017, the Xiaomi Ecological Chain achieved 20 billion sales performance. Xiaomi has also set an ambitious goal for the ecological chain: 40 billion in 2018 and 80 billion in 2019. This means that the Xiaomi Ecological Chain needs to nearly double every year.

Xiaomi has proved its success in power banks, bracelets, sweeping robots, and air purifiers. But these products priced at tens of yuan or a few hundred yuan are a drop in the bucket for doubling the revenue of the ecological chain. According to the exclusive information of AI Finance Agency, Xiaomi made an organizational adjustment to the ecological chain team on July 27, and established a precious metals business department, an exploration product department, and an investment department under the ecological chain.

So far, Xiaomi has invested in more than 100 eco-chain companies and produced more than 1,600 SKUs of hardware products. But it is undeniable that Xiaomi specializes in industries where the original market is relatively chaotic and inefficient, typically color TVs, rice cookers, plug-in boards, and sweeping robots.

Take Xiaomi TV as an example. In the TV market that Xiaomi has entered, the share of leading brands such as Hisense and Skyworth is around 15%, and the share of other major brands is around 10%. The gap is not large. The melee pattern is conducive to Xiaomi’s competition for the market.

Because TV involves video content, for companies like Xiaomi and LeTV with operating experience, it is very familiar. And Xiaomi has also invested in video platforms such as iQIYI very early, and LeTV is known for video copyright. However, with the collapse of LeTV, the similarity of the two companies has also caused most of the share of LeTV super TVs to flow to Xiaomi. According to the data of Aowei Cloud Network, in April 2018, the total online and offline shipments of Xiaomi TVs exceeded all brands, ranking first in China.

"The categories that can contribute more than 2 billion can be exhausted, probably within 50. And among these 50, there may be only 10 fields that are relatively easy to enter." The person in charge of a Xiaomi ecological chain enterprise broke his fingers to the AI financial club. The bracelet can exceed 2 billion yuan, the sweeping robot can exceed 2 billion yuan, and the notebook can exceed 3 billion yuan.

If the Xiaomi ecological chain wants to double its growth, it has to enter the major home appliance market. In this market, Xiaomi has successfully won the TV market, and now there are only empty ice washers (air conditioners, refrigerators, washing machines) left.

However, Xiaomi’s playing style is not universal, especially in the air ice washing market, where Xiaomi has encountered unprecedented resistance.

In early 2017, Xiaomi ecological chain enterprise Yunmi released the first Internet smart refrigerator with a crowdfunding price of 999 yuan. The following year, it launched an Internet smart refrigerator iLive priced at 1999 yuan, which supports Wi-Fi connection and can be remotely adjusted by mobile phone app. In addition to the refrigerator, Xiaomi ecological chain enterprise Xiaoji intelligent mini drum washing machine (Xiaomi version) launched a crowdfunding on the Xiaomi platform, priced at 1499 yuan.

However, none of these products were as successful as expected, and young people’s first ice wash didn’t really make young people buy it. Xiaomi, which is good at marketing, even lost money in terms of market volume.

Xiaomi has also entered the drone market, built by Xiaomi ecological chain enterprise Feimi, after two and a half years of research and development, the cost of the mold alone cost more than 4 million yuan. Lei Jun personally demonstrated in front of 1 million netizens through Xiaomi live broadcast. However, surprisingly, in the live broadcast of Xiaomi employees, the drone actually lost control, and finally "blew up", and died before he could beat him.

In fact, even if it doesn’t "blow up", Xiaomi will have a hard time making a difference in the drone market. In the drone market, DJI is an absolute giant. Under the Iron Curtain of DJI, almost no players can survive in the consumer drone market.

Five years ago, Dong Mingzhu and Lei Jun made 1 billion bet, which was judged by the revenue of the two companies.

Now, Lei Jun and Dong Mingzhu’s gamble is only 5 months away. Xiaomi’s revenue in 2017 is 114.60 billion yuan, while Gree’s revenue is 148.20 billion, and it is expected to break through 170 billion this year. Lei Jun has almost no chance of winning. It has to be said that in the face of Gree, which still maintains strong growth, Lei Jun should carry out a large-scale "encirclement and suppression" of Dong Mingzhu earlier. To make amends, Lei Jun should not care about temporary gains and losses, and it is not impossible for Xiaomi to surpass Gree. Even if Xiaomi air conditioner is not done, it can still drive the industry to change like a catfish, which is what Xiaomi has always been best at doing.

(Wu Wei and Zhang Jie are pseudonyms in the article)

1905 movie network feature April 7, 2024 is my 70th birthday.In a blink of an eye, the kung fu superstars who grew up with several generations have also entered their infancy.

Not long ago, Jackie Chan’s appearance at an event triggered a heated debate on the whole network.A head of silver hair, gray beard, let countless fans sigh that the years are not forgiving.

But after learning about it, I found that this look was necessary for the filming of the new play "Strange Family".Jackie Chan will play an elderly man with Alzheimer’s disease in it.

Some netizens posted a Reuters video shot by "Strange Family", showing that 70-year-old Jackie Chan is still filming.Hearing the cheers of the onlookers, he also showed his trademark smile and waved in response.

"Big brother is still that big brother"!

This new film is just one of more than a dozen works on Jackie Chan’s to-be/to-be-shown list.At the age of 70, he still maintains a strong creative passion and a pure heart for movies.Except for Jackie Chan, few people can do it.

After 61 years of debut, he has produced more than 200 works, becoming the first Chinese to win the Academy Award for Lifetime Achievement.Everyone knowsJackie ChanIt has long been the first Chinese film to shine in the worldA business card.

How influential Jackie Chan really is, let’s take a look at what 10 Chinese and foreign superstars see in his eyes.You know why: there is only one Jackie Chan in the world!

From studying at the age of 8 to becoming an international superstar, brother Hung Jinbao is a witness to Jackie Chan’s path to acting.Jackie Chan once said: "Others call me big brother, but I call him big brother."

Others talk about Jackie Chan always talking about hard work and achievement, while Samuel Hung is always concerned about his health and well-being.

"It’s really not easy to debut for 60 years and be so successful, but the most important thing is to be healthy, come when you can, and don’t force it if you can’t."

When asked recently what he thought of Jackie Chan’s "old state", he also responded domineering: "Who is not old? Everyone will be old! He is so happy and healthy, isn’t that okay?"

"Double Monday Cheng" jointly witnessed the golden age of Hong Kong cinema, and Chow Yun-fat also bluntly said that Jackie Chan was his idol:

"Jackie Chan is not only my idol, but also the idol of the whole world."

"Because he represents not only Hong Kong, but also the hard-working spirit of the Chinese people. With this hard-working spirit, he let people all over the world know Jackie Chan’s name."

As one of the winners of Jackie Chan’s Oscar Lifetime Achievement Award, Michelle Yeoh recalls the past of working with Jackie Chan in the 1990s, which is still vivid in her mind.

"Jackie Chan seems to have unlocked the secret of everlasting youth, and he is still as honest, funny and thoughtful as he was when I first met him 30 years ago. Although time has moved forward, he has never changed."

In order to give action filmmakers the recognition and respect they deserve, Jackie Chan founded the International Action Film Week in 2015, and the first Best Action Actor was awarded to starring Wu Jing.

In his acceptance speech, Wu Jing emotionally recounted the significance of Jackie Chan to every action filmmaker.

"Action movies are about conveying emotions to the audience through action. Jackie Chan is a master in this regard. I am still imitating it. Big brother jumps more buildings than I walk."

"I will remember Big Brother’s words: the life of an action actor is short, so be an actor who can fight."

Supporting newcomers is what Jackie Chan insists on doing. He has more than once called Nicholas Tse his successor, for which the latter has always been grateful:

"When I was young, I was a fan of Jackie Chan. When I grew up, I was lucky enough to have Jackie Chan make a cameo in my first action movie. In the end, it was because of him that he achieved a good box office.

He always says that he wants to help the younger generation and give young people opportunities, which is very rare in this circle. "

From China to Hollywood, Jackie Chan has had a profound impact on a large number of filmmakers with his classic films.

Quentin is one of them. In 1995, Quentin Tarantino was invited to present Jackie Chan with the MTV Lifetime Achievement Award, and in the award speech he was generous with praise: "Jackie Chan is my hero forever" and "the greatest actor in the history of film".

"When you see a Jackie Chan movie, you want to be him. He’s the best filmmaker in the world and the best action comedian since talkie."

Like Jackie Chan, Tom Cruise is also known in the circle as "Desperate Saburo". His obsession with difficult action dramas also makes him cherish Jackie Chan heroes.

"His action movies are unparalleled, and he himself is unique."

"I have a lot of admiration for what he does, and I have something in common with him. We both want to give the audience a unique experience, and we all want to do our best for the audience."

In 2022, Brad Pitt made his first foray into action comedy. In an interview, he revealed that he has always been a huge fan of Jackie Chan, and the film was also deeply influenced by him.

"I’ve always been a huge fan of Jackie Chan, and the director and I have been talking about him for the past decade or so.

He is just like a contemporary, he is really talented, and can even be said to be a genius who is far underestimated. "

Stallone

Hollywood action star Stallone is Jackie Chan’s friend. Having starred in a large number of action classics, he is also amazed by Jackie Chan’s hard work and dedication.

"I think Jackie Chan’s movie is the ultimate stuntman can do, it’s unbelievable, even if he gets hurt, he has to give everything."

"He’s really a master. He paid a great price, and that’s why his work can become a classic."

Zhang Yimou, an internationally renowned Chinese filmmaker, has never had a film collaboration with Jackie Chan, but his brief encounter at the closing ceremony of the Beijing Olympics was enough to impress him.

"At the closing ceremony of the 2008 Olympic Games, Jackie Chan was invited to sing a song, and he came to every rehearsal. The kind of rehearsal in the Olympic Games, thousands of people waited for a long time and only appeared for three minutes, but he worked hard on the stage and rehearsed with other actors. That’s how he did everything seriously to influence the people around him."

In 2005, Jackie Chan and Zhang Yimou won the Shanghai Film Festival Chinese Film Outstanding Contribution Award

"He is very dedicated at work, and his love for environmental protection, charity, and everything in life is still influencing a new generation of young people."

"There is only one Jackie Chan in the world, and it cannot be repeated. He is the pride of our Chinese people."

Indeed, whether in terms of popularity, influence or the classic degree of the work, Jackie Chan is a unique presence among Chinese filmmakers.

In an era when technology and equipment lagged far behind Hollywood, Jackie Chan made a name for himself with his unique style of action and dedication.

Not only the above-mentioned few, Schwarzenegger,,,, and other well-known movie stars have publicly expressed their admiration and love for Jackie Chan.

"Long’s Comedy" leads the trend of action movies around the world, and the family class he trains has become a mainstay of the industry.

In Hollywood movies, Jackie Chan refuses to play a Facebook character or villain, hoping to use his work to change prejudice and show the world the positive side of Chinese sunshine.

In his life, he has always been full of positive energy, adhering to environmental protection and public welfare undertakings for decades, and giving back the support and love of global audiences with actions.

In the face of age, Jackie Chan once said frankly, Of course I can retire, but making movies is interesting, and I want to make more movies.

"As long as I can still play and do it, I will definitely hope to make a movie for the audience every year!"

There is a line to the theme song of "Police Story" that goes like this: "Bet your life and leave a heroic story."

For Jackie Chan, the age of 70 is just the beginning of the next story.

For those of us who grew up watching Jackie Chan movies, we can still see how fortunate Jackie Chan’s new works are, as if our youth has never aged.

In the coming days, let’s look forward to the world’s only Jackie Chan, continuing the unique legend!

Click to review the first season of "China Star Jump" video set > >

　　After months of struggle, Zhejiang Satellite TV’s "China Star Jump" finally ushered in the peak decisive battle of the finals. As soon as the program started, the trophy of "China Star Jumping" floating in the water was particularly dazzling under the light of the water. The countdown figures played by the lights also made the atmosphere of the finals a little more tense. Compared with another diving program, in China Star Jump, almost all the contestants came to the end, including Asa and Eva Huang, who failed to enter the finals, and also appeared in the finals as "cheerleaders", which shows the cohesion of the program. After several rounds of cruel PK, Killer finally won the championship. She also laughed and teased: "Now no one dares to chase me."

　　Special stage—

　　Eva Huang Ah sa helped out as a cheerleader.

　　The blue swimming pool, the beautiful synchronized swimmers and the trophy shining in the water are all so bright on the stage of the finals of "China Star Jump". Accompanied by Tian Liang, the "star head coach", the first beautiful note was played in the finals of "China Star Jump" in the first season.

　　Compared with previous programs, the opening ceremony of the finals was designed to be more like a party. Synchronized swimmers lifted the trophy out of the water, and "Star Head Coach" Tian Liang took the trophy and became the "first stick" of the handover. Subsequently, Tian Liang handed the trophy to the student representatives of four primary schools in the "Mother’s Water Pit" campus safe drinking water program donated by the program, and the children handed the trophy to Asa, who passed it to Olympic champion Li Na. After several passes, Zhou Jihong, the captain of the national diving team, finally placed the trophy at the top of the 10m platform, which ignited the glorious moment of the finals.

　　Surprisingly, Asa and Eva Huang, who stopped in the semi-final, also appeared in the final on the same day to cheer for their teammates. Asa said frankly that the reason for returning to this stage is to prove that diving is a very happy sport, and I hope to give everyone positive energy with my teammates. On the same day, Asa, who was afraid of heights, boldly stood on the 10-meter platform and danced for her teammates. I am afraid this is the most special stage she has ever experienced.

　　Eva Huang, who is a sister flower with Asa, also sang her own famous songs in the swimming pool that day. It is worth mentioning that the water surface of the swimming pool has been built into a beautiful blue stage. Eva Huang’s wonderful singing and the yellow moon built on the stage complement each other. The scene is like a quiet starry sky, which is very beautiful.

　　Special lineup-

　　Cattle return as a special commentator

　　On the day of the finals, Tian Liang, the head coach of the star who always "just jumps and doesn’t talk", also appeared as a guest commentator. Although pronunciation and articulation are not special standards, his kind explanation and winking from time to time also gave the audience a fresh feeling. The cattle that were eliminated in the first race were also back in the game as the "invited commentator" on the same day. His impassioned explanation at the scene also made the race process more exciting, and the cattle also recalled their psychological course of participating in the competition. "In fact, I was scared for the first time on the 5-meter platform and wanted to go back, but our coach said that as long as I got on the platform, there was no reason to retreat. I think it is their spirit of never giving up that makes the national diving team brilliant today. "

　　In addition to understanding and presiding over the lineup, the "Starlight" of the participating lineup on that day was particularly dazzling. In the final, Gao Hu (Weibo), Killer, Xing Aowei, the gymnastics champion, and Zhou Weitong, the super mermaid, formed a "mixed" double jump with Olympic champions such as Wu Minxia, which made the whole competition interesting.

　　It is worth mentioning that, in order to cheer up his opponent, Asa jumped off the pool directly on the same day by "sticking popsicles" to cheer for his teammates in a special way, and also expressed his love for diving.

　　Special point of view-

　　Zhou Weitong married the world champion on the spot.

　　In the finals of that day, four finalists appeared in the form of "Guanyin with a Thousand Hands", and Huang Jianxiang and Yiyi also attended in formal attire, which was very eye-catching. In order to be the "real king of platform jumping", all four star players tried their best, but Gao Hu, the "high-platform fighter" who had high expectations, unexpectedly missed the PK link and finally won the third place with regret.

　　In the first round, Xing Aowei and diving champion Chen Ruolin got off to a good start, and the cooperation between the two world champions in different fields was surprisingly tacit. The 100m platform 103B tumbled forward for a week and a half, successfully completing the standard movements of mixed doubles, and the cattle could not help but sigh that "gymnastics champions are different", and Zhang Tie-Lin also bluntly said that their performances were "quite perfect and difficult to catch up". The second player was Zhou Weitong and the 3m springboard champion He Chong, who had already cooperated quite tacitly in the pre-match training. Zhou Weitong praised Mr. He Chong even more, "That’s what you need to find a boyfriend", and helped him find a marriage at the final. On the same day, the two men showed the difficult movement of "3-meter board 202c somersaulting backwards and embracing the knees", and the score was second only to that of Xing Aowei.

　　Subsequently, Gao Hu and Lin Yue, the world champion of the 10m platform, stepped onto the 10m platform and jumped out of the required action of "100m platform with 101B diving forward for half a week", which won a full house. Zhang Tie-Lin scored 10 points for him, and the total score was even with Xing Aowei. Killer and Wu Minxia’s sister flower partner also showed no weakness. They jumped the 3m board 202a and somersaulted backwards for a straight body. Finally, they were unanimously recognized by the judges for their wonderful performance, ranking first in the total score.

　　Special race situation-

　　Gao Hu only won the third place by accident.

　　According to the rules of the finals competition, Killer, ranked No.1, and Gao Hu, ranked No.3, will fight against each other in the first round competition, and Xing Aowei and Zhou Weitong will also take to the PK stage. Finally, the two winners will compete for the championship, and the other two will compete for the third and fourth place. In this round of key competition, Xing Aowei pulled out all the stops. The 5-meter platform, a 5141c forward somersault for two weeks and a half-week tuck, was dumbfounded. Zhou Weitong also took out his own classic movement, which was evaluated as "super-level play" by Zhou Jihong. At the critical stage of judging and voting, Zhou Jihong and Li Xiaopeng were deadlocked with one person and one vote. Finally, Zhang Tie-Lin decided to do it with one vote. "Zhou Weitong has been very successful today, and the team leader Zhou spoke highly of you, but I personally think that the final look of the competition is difficult. There is no way. I don’t care what the background of this person is. The competition is very cruel. I voted for Xing Aowei."

　　The other group’s fighting was also very tragic. Killer and Gao Hu were both masters of "10m platform", and both of them chose 10m platform on the same day, with positive pk. However, it may be that the pressure is too high. Gao Hu played abnormally when he fell into the water, and accidentally slapped him on the water. Killer couldn’t help but cover his mouth in surprise. However, the judges recognized the technical difficulty of Gao Hu’s action, and finally Killer entered the championship battle almost without any suspense.

　　In the last round of pk, Gao Hu beat Zhou Weitong to win the third place, while Xing Aowei lost to Killer. In the end, the first season championship of "China Star Jump" fell to Killer, which surprised many people. At the same time, Killer himself couldn’t believe it. "I am dreaming!" Xing Aowei embraced her opponent generously and joked: "She defeated the Olympic champion and the diving team didn’t accept her!"

　　The first season of "China Star Jumping" ended successfully, and the star students felt sad when they left the stage. Gao Hu also appealed at the scene, "The coaches of the national team, can you give us a green light and come to training as long as you have time?" His appeal also shouted out the voices of many star players. Netizens bluntly saw this paragraph and couldn’t help but burst into tears. "Stars really fall in love with this sport. This is the positive energy we need!"

On January 18th, at the Eco Thousand Sails Sailing Ceremony held this afternoon, Huawei announced that the NEXT Hongmeng Galaxy Edition System Developer Preview Edition is open for application.

IT House learned from the press conference that Huawei HarmonyOS NEXT Hongmeng Galaxy Edition will launch the developer beta program in Q2 (second quarter).

Hongmeng Galaxy Edition will be realized.

Huawei has launched the NEXT Developer Preview Beta recruitment on January 15, and currently supportsHUAWEI Mate 60Mate 60 Pro, Mate X5 model registration. The HarmonyOS NEXT Developer Preview will no longer be compatible with open-source applications, only supporting kernel and system applications.

Huawei also revealed that it expects to have 5,000 apps completed native Hongmeng development by the end of this year.

Huawei announced that it has launched the 7 billion + RMB "Shining Star Plan" to continue to encourage ecological innovation such as Hongmeng native applications, meta services, and SDKs.

Related reading:

"Huawei Releases HarmonyOS NEXT Hongmeng Galaxy Edition, Developer Preview Open Application"

"Huawei Hongmeng Galaxy Edition system interface debut: HarmonyOS NEXT new control center, colorful color scheme"

"Huawei HarmonyOS NEXT Developer Preview Official Page Launched, Key Development Features Announced"

　　Xinhua News Agency, Jinan, September 25 Question: 15.2 kilometers of road charge 19.9 kilometers of money, how many pits are there for driving?

　　Xinhua News Agency "Xinhua View" reporters, Wang Yang and Shao Luwen

　　Recently, a post of a new scam on behalf of driving has gone viral through the public security official Weibo and WeChat in many places. According to the police, some personnel pretended to be chauffeurs to send passengers home, took personal information on the way, deliberately created traffic accidents "to make a game", and finally demanded high amounts of money. Many netizens expressed that they have resonated, and they have also been tricked by "black chauffeur".

　　"Xinhua View" reporter survey found that after drunk driving into prison, "drunk looking for a driver" has become a common consumer habit. Statistics show that last year, the national driving industry total orders have exceeded 253 million orders, the total output value of 15.40 billion yuan. At the same time, the management of the driving industry is disorderly, sky-high prices, hit-and-run and other chaos.

　　The driver actually invited a drunk, the industry is not standardized, and there are great safety hazards

　　Analysys think tank released a report showing that in the first half of 2017, China’s Internet driving market reached 2.965 billion yuan, showing a steady growth trend. At the same time, the unscrupulous behavior of individual practitioners has brought hidden dangers to the industry.

　　Mr. Zhong, a resident of Jinan, said that he was going to find a chauffeur to go home after a party, but he did not expect a drunk to come over by the chauffeur’s phone. Mr. Liu, a resident of Beijing, also encountered similar unhappiness. When he left a restaurant after drinking, he chose a chauffeur at the door on the strong recommendation of the waiter. Due to his drunken confusion, Mr. Liu did not notice anything wrong during the journey home, but found that the door of the car was obviously scratched the next day. He contacted the chauffeur, but the other person denied it.

　　Liu Ruzhong, a senior partner at Taihe Tai (Beijing) Law Firm, said that there are three main aspects to the current chaos in the driving market: first, the industry threshold is too low, the driving level of practitioners is uneven, and the quality of some personnel is low; second, the fees are arbitrary, and the driver adjusts the price arbitrarily; third, some drivers are indifferent to traffic rules, resulting in many accidents.

　　The reporter searched the China Judgment Document Network and found that in the past two years, the number of cases related to driving has increased significantly. Since 2016, there have been 1,078 such court verdicts, including 402 involving traffic accidents, 244 liability compensation, 228 personal injury compensation, and 118 mental damage.

　　"The surrogate driving market is growing rapidly, but under the circumstance of imperfect industry norms, the safety hazards are also increasing. Hit-and-run accidents, theft of property, illegal driving, etc., make consumers pay a heavy price for one-time surrogate driving," said Zhang Shili, head of the Auto Club branch of the China Automobile Dealers Association.

　　The reporter personally experienced: "Black driving" charges 19.9 kilometers for 15.2 kilometers of road, and it is difficult for regular driving drivers to grab the order

　　Recently, the reporter experienced the whole process of the service of multiple chauffeurs in Jinan. At around 9 pm on the 14th, the reporter came out of a hotel in Jinan and found that there were many chauffeurs waiting at the door. A chauffeur who came forward to collect work said that he could choose two ways: "report the order" and "do not report the order".

　　It turns out that the so-called "declaration" is a company behavior, and the driver needs to pay 20% of the income to the company; not "declaration" means that the driver himself takes "private work" under the banner of the company, and the insurance and other guarantees provided by the company for passengers become the driver’s private income. The driver told reporters that doing "private work" is good, and now the most chaotic market is "black driving".

　　According to clues, the reporter experienced a "black driver" service on the evening of the 21st. From the Jinan Olympic Sports Center, he called the driver to drive to the vicinity of the reporter’s residence. The map shows that the distance is 15.2 kilometers, and the estimated cost of e-driver and Didi driver and other platforms is about 80 yuan. However, the software carried by the "black driver" shows that the mileage is 19.9 kilometers, and the final settlement fee is 99 yuan.

　　The "black driver" charges 59 yuan for 10 kilometers. When the reporter asked how to charge for more than 10 kilometers and whether it was still charged according to this standard, the driver did not respond positively.

　　Master Zhang, a full-time driver who has been working on a driving platform for five years, told reporters that in addition to asking for random prices, some "black driving" may also bring safety problems. In Jinan, there are many "black driving", and it is difficult for regular drivers to grab orders.

　　Zhang Shili said that at present, there is a lack of mandatory standards in the driving industry, resulting in too low a threshold for personnel and no code of conduct.

　　The person in charge of Didi’s driving said, "On the Internet driving platform, in addition to requiring no bad records such as crime, alcoholism, and traffic violations, drivers have to undergo strict training and written tests, interviews, and other assessments before they can be hired." According to the reporter’s investigation, many small driving companies do not require driver training in accordance with industry standards and specifications, nor do they have insurance for driver liability insurance.

　　"Since 2015, the Automobile Dealers Association and several major driving companies have initiated industry self-discipline, calling on all employees to take a third-party practice test for certification, and after passing the test, obtain a driving training certificate. At present, the number of people with certificates in the industry has accounted for 37.5%." Zhang Shili said.

　　Who will take care of these "black drivers"?

　　The reporter’s investigation found that at present, the driving company is a company registered with the Industry and Commerce Bureau to engage in "non-operating vehicle driving services", and the supervision subject is not clear.

　　The Shandong Provincial Administration for Industry and Commerce said that the industry and commerce department is mainly responsible for the registration of driving companies in accordance with the company law and relevant laws and regulations, in accordance with the principle of market access.

　　According to the interviewed traffic police department, the traffic police mainly investigate and deal with violations in the process of driving. Driving services are essentially different from operating driving services. Without clear jurisdiction, the traffic control department cannot supervise the driving industry.

　　Wang Xinliang, director of Shandong Xinliang Law Firm, believes that it is crucial to rectify the chaos in the driving industry and clarify the supervision of the driving market.

　　"The price department can guide the driving industry to formulate clear charging standards, and the charging standards of the driving company should be publicized or registered for the record. This can not only ensure the free pricing of the market, but also accept social supervision to prevent enterprises or individuals from changing the standards at will," said lawyer Chen Zhiwei, a partner in the Shanghai branch of Beijing Zhongzi Law Firm.

Hengda’s meaning is also very simple, that is, the first car does not take risks and seeks stability, and occupies the market through high cost performance.

(3) In what way will Hengchi 5 open against the benchmark X1 and Model Y?

Evergrande 5’s positioning is very special. In terms of size, its opponent should be Tesla Model Y, but it chose to "reduce its value" to enter the compact SUV market.

And its performance is indeed not particularly outstanding. The maximum driving power of the new motor is 150kW, which is basically the same as the output power of the 2.0T engine. Considering that the motor can output the maximum torque at the first time, the urban acceleration performance may be slightly stronger than that of the traditional 2.0T fuel car. But it is not outstanding in electric vehicles. For example, the maximum output power of the Tesla Model Y reaches 220kW, and it only takes 6.9 seconds to complete 0-100km/h acceleration, which is considered a steel cannon (parameter | inquiry) level. Therefore, for users who have high expectations for the performance of electric vehicles, the Hengchi 5 may not be so outstanding.

However, the relatively weak performance of electric vehicles gives it a more energy-saving performance. The comprehensive battery life of the new car can reach 700km, which is still outstanding.

The other competitors of the Hengchi 5 were officially "identified" as joint-venture luxury SUVs such as the Audi Q3 (parameters | inquiry) and the BMW X1 (parameters | inquiry). To be honest, the comparison was not great, these two cars were both entry-level SUVs, while the Hengchi 5 was actually close to the mid-size SUV. Its space was significantly larger and the configuration was higher.

But when it comes to brand recognition, Audi and BMW have been in business for so many years, and it is not so easy to shake. Therefore, the "official goal" of Hengchi 5 is very suspicious of "touching porcelain", which we will not mention.

(4) Kung Fu shooting

According to the previous information, the price of Hengchi 5 will be below 200,000 yuan, which has actually filled the price/performance ratio. After all, the body close to the medium-sized SUV, the reliable three-electric system, the solid quality control and adjustment, and the good appearance and intelligent performance, the home is still very suitable.

It can be seen that Evergrande has indeed put enough effort into this car. As for whether it can become a hit, it depends on the follow-up market performance, let’s wait and see.

(Text/rider number, Kung Fu car)

On June 8, Beijing time, the first nine satellites built by Geely Holding Group for future travel were launched earlier this month. Geely’s Zhejiang Space-Time Daodaoyu Technology Co., Ltd. is responsible for the development of these satellites, and its CEO Wang Yang said that compared with Elon Musk’s plans for SpaceX, the company’s ambitions are much more modest.

The nine satellites were launched into orbit on June 2 aboard a Long March 2C rocket, making SpaceX one of the first Chinese companies to begin assembling a constellation of satellites pioneered by SpaceX, which already has more than 2,000 satellites in orbit.

"We all have a background in car manufacturing, and we all want aerospace technology and satellites to give back to car manufacturing and travel," Mr. Wang said in an interview on Tuesday. "The difference is our goal of making satellites."

SpaceX is putting its Starlink satellites into orbit to build a constellation of internet services as a low-cost alternative to long-range land-based systems that are vulnerable to interference. SpaceX also launches rockets for global satellite operators, the US military and NASA.

In contrast, Spacetime Daoyu’s ambitions are more modest. Wang Yang said that Spacetime Daoyu expects to have 72 satellites by the end of 2025 and 168 satellites by the end of the decade.

"While we want to provide the ultimate travel experience for our users, SpaceX is more focused on low-latency broadband and providing high-speed broadband access to 7 billion people around the world," Mr. Wang said.

Space-Time Daoyu is following in the footsteps of Chinese rival Galaxy Aerospace, which in March put six satellites into orbit. The satellites weigh an average of 190 kilograms and are China’s first projects to develop constellations in low-Earth orbit.

"Compared to Starlink, China’s constellation is small," Global Times said in a report on the launch, adding that China "will step up efforts to promote the application and transfer of space technology in the next five years".

Wang Yang said that Spacetime Daoyu plans to do its part to open up the network to other brands, and more information will be announced within three months.

"Geely’s future partners will not be limited to Geely’s ecosystem and car brands," he said. "We are also building partnerships with other industries."

　　The sudden entry of the "giant" broke the development rhythm of the entire community group buying track, and the rules of the game changed accordingly. The industry changed from "fighting for innovation", "fighting for execution" to "fighting for capital" and "fighting for subsidies". It is not surprising that Tongcheng Life has embarked on an inverted "V" shaped trajectory from rise to fall.

　　The "giants" are still rolling in the track of community group buying, but the start-up company that started first was "easily" crushed. On the morning of July 7, the community group buying platform Tongcheng Life (now renamed Honey Orange Life) officially declared bankruptcy. According to reporters, its founder, chairperson and CEO He Pengyu was still in talks with suppliers that night. During the meeting for more than 4 hours, he cried several times and promised to try his best to pay off the debt, but he was unable to recover.

　　On the community group buying track, Tongcheng Life is not the first company to declare bankruptcy, but because of its high reputation, its bankruptcy was called "the first case of community group buying bankruptcy" by the media, causing industry shock.

　　Why did Tongcheng Life "die suddenly"? What is the situation of community group buying now? The reporter interviewed some people familiar with the matter.

　　Shift from innovation to subsidies

　　The usual cause of company bankruptcies is poor management, but Tongcheng Life, which was established in January 2018 and belongs to Suzhou Fresh Orange Technology Co., Ltd., is obviously not one of them. The inverted "V" trajectory of Tongcheng Life from rise to rapid "fall" can be clearly seen in the internal letter sent by He Pengyu to employees and suppliers. According to He Pengyu’s open letter, in only about a year and a half, "Tongcheng Life has achieved the front-end performance of the contract and entered a healthy development stage."

　　At that time, Tongcheng Life was still a star on the community group buying track, which was recognized by many investment institutions. According to reports, Tongcheng Life received 4 rounds of financing in a row in 2019, ranging from tens of millions of yuan to 100 million US dollars. In June 2020, Tongcheng Life announced the completion of 200 million US dollars C round of financing. According to public reports, its valuation before bankruptcy was about 1 billion US dollars, which can be regarded as a small and beautiful start-up company.

　　In the past two years or so, the community group buying model developed from fresh food e-commerce has rapidly developed into a new format in the e-commerce industry, providing a new way for the development of farmers and rich farmers and the absorption of flexible employment in cities and towns, and attracting a large number of entrepreneurial teams. Ten Hui Tuan, Xingsheng Preferred and Tongcheng Life are the three fastest teams, once known as the "old three groups" by the outside world.

　　However, the booming community group buying market has also attracted "giants" to enter the market. Since September 2020, Ali, Meituan, Didi, Pinduoduo and others have resorted to price war "big killers", and "1 cent to buy vegetables" has become popular. Even the vendors in the vegetable market have felt the pressure.

　　The sudden entry of "giants" broke the development rhythm of the entire community group buying track, and the rules of the game changed accordingly. The industry changed from "fighting for innovation" and "fighting for execution" to "fighting for capital" and "fighting for subsidies".

　　According to the reporter’s understanding, in the face of the sudden arrival of the survival crisis, Tongcheng Life has also struggled, seeking capital mergers and acquisitions while striving for performance. It has discussed acquisition intentions with JD.com, Ali, ByteDance, Meituan, etc., and even has a team settled in for due diligence, but ultimately failed due to changes in the industry trend.

　　Li Ming (a pseudonym), a former executive of Tongcheng Life, told reporters that "at the end of June, Tongcheng Life also hoped to get better business data through increased marketing efforts, so as to obtain the olive branch of a’giant ‘merger, but unfortunately it was rejected again. Later, due to the expiration of the brand authorization, the executive decided to start a name change and strategic transformation to make a comeback. Unfortunately, at this time, the supplier began to concentrate on the run to collect payment, which eventually led to the collapse of the capital chain."

　　At present, community group buying is still in the stage of rapid expansion and growth. Meituan (Meituan Preferred), Pinduoduo, and Didi (Orange Heart Preferred) have occupied the top position, and Xingsheng Preferred and Ten Hui Tuan have also been incorporated by JD.com and Ali. After the departure of Tongcheng Life, community group buying has become a game for "giants".

　　After the shopping, the industry will lose a lot.

　　After the community group buying track fully entered the era of "giants", price-fighting and long-term rebates became the norm, and no one could achieve positive benefits in the short term. Service innovation and experience innovation on the user side stagnated, and the entire industry suffered serious internal friction.

　　It is understood that the profit margin of the community group buying industry has rapidly declined from profit to loss. Li Ming revealed that before the "giant" entered the market (before September 2020), the monthly sales of platforms like Tongcheng Life were between 800 million yuan and 1.20 billion yuan, and the gross profit was about 20%. After the "giant" entered, with the huge subsidies for consumers and the competition for the "head", the monthly revenue of the platform fell by up to 80%, and the gross profit directly became negative. The entire community group buying market also further slid into the quagmire of industry-wide losses.

　　In December 2020, the State Administration for Market Regulation and the Ministry of Commerce jointly organized an administrative guidance meeting to standardize the order of community group buying, which was attended by six Internet platform companies including Alibaba, Tencent, JD.com, Meituan, Pinduoduo, and Didi. At the meeting, the community group buying "nine must not" was proposed. In March this year, the operating entities behind five community group buying platforms including Meituan Preferred (Shenzhen Meituan Preferred Technology Co., Ltd.) were fined 1.50 million yuan for suspected unfair price behavior.

　　But this still failed to curb the expansion of the "giants". On the one hand, they "hide their positions" and continue to engage in similar "1 cent" activities. On the other hand, they seize the end point market by greatly increasing the commission rewards and subsidies for the "heads". Li Ming said that at present, the rewards and subsidies given by several giants to community groups buying end point "heads" have reached a maximum level of 15% to 18%, basically subsidizing the platform’s own income. This is already irrational competition and is suspected of disguised price war.

　　On July 8, the reporter inquired about some community group buying platforms, not only the activity of "15 eggs clocked in 5 days", but also 1.25 yuan a catty of sand sweet potatoes and 0.99 yuan a red dragon fruit. On the community fresh platform, similar red dragon fruits cost about 4 yuan to 5 yuan each, and sand sweet potatoes cost 5 yuan a catty, which is much higher than the community group buying platform.

　　Behind the shopping prices and subsidies is the huge loss of the entire industry. According to public reports, Meituan’s adjusted net loss reached 3.892 billion yuan in the first quarter of this year, and Meituan’s investment in the community group buying business was about 10 billion yuan, which is expected to reach 20 billion yuan this year. In the first quarter, Pinduoduo’s gross profit fell to 49.74%. Pinduoduo invested about 6 billion yuan in buying vegetables in Duoduo, and will increase investment in 2021.

　　Under the mess, suppliers are affected

　　From thriving performance to being forced to declare bankruptcy and exit, the closure of Tongcheng Life is not only regrettable, but also leaves a trail of chicken feathers.

　　In the early morning of July 8, He Pengyu issued an open letter through his personal Moments, proposing three solutions to the bankruptcy of Tongcheng Life: to maximize the protection of the rights and interests of all creditors within the scope of the law; to make every effort to preserve existing assets, hand them over to the court for proper storage and treatment, and actively cooperate with the government’s guidance to offset debts with company assets; if the assets are not enough to offset debts, He Pengyu promises to start a business again, "I will record every debt clearly, and use all my personal efforts to repay debts."

　　It is also understood that on July 8, Tongcheng Life issued a repayment plan for the supplier before initiating the bankruptcy liquidation process. Previously, it had paid employees’ salaries in June and also promised to pay social security for employees in the future.

　　Although the entrepreneurial team of Tongcheng Life tried their best to make up for it, there were still many vegetable farmers, small traders, and even large and medium-sized suppliers who did not receive the payment on time.

　　A livestock company has cooperated with Tongcheng Life to supply egg products since 2019, and it was owed nearly 800,000 yuan. After the crisis broke out in Tongcheng Life, Mr. Wang, the person in charge of the company, came to ask for the arrears. "There are hundreds of egg farmers behind me, so I have to come to collect debts."

　　According to the latest situation, on July 8, Tongcheng Life has started to repay some of the suppliers’ debts in advance, and the rest will be allocated by the court after the bankruptcy liquidation process starts. The work is still being carried out in an orderly manner.

　　As of the morning of July 9, there were more than 600 suppliers who had reached repayment agreements with Orange Technology, mainly from the financing loans raised by He Pengyu and his team.

　　On July 9, Mr. Wang booked a return ticket with a repayment agreement. But next time, if there is another community group buying platform flash crash, will the suppliers be so lucky?

At noon on November 29, China Hengda Group announced on the Hong Kong Stock Exchange that it had noticed the announcement issued by Hengda Property on November 28, which concerned its subsidiary Jinbi Property Co., Ltd. to recover about RMB 1.996 billion and about RMB 152 million from the company and three related subsidiaries for the enforcement of its RMB 2 billion deposit certificate pledge guarantee by the bank.

China Evergrande Group said that as of the date of the announcement, the company and related subsidiaries have not received the notice from the Guangzhou Intermediate People’s Court in Guangdong Province to file a lawsuit against Jinbi Property.

The company will seek legal advice to safeguard the company’s legal rights. The company will issue further announcements in due course on any significant developments in the above litigation.

As of press time, China Evergrande Group reported HK $0.230/share, down 8.00%, and the total market value 3.037 billion HK $.

Previously reported: Sudden! Evergrande Property Sues Evergrande Group

Source, Reading Finance

Original title: "Evergrande Group’s latest response!"

Read the original text