"The international gold price continues to hit a record high" on the hot search, with the soaring gold price, the investment boss who laid out it made a lot of money. Bridgewater (China) Investment’s three products are heavily invested in gold ETFs, with a total of 181.90 million fund shares; tens of billions of private high-tech assets Deng Xiaofeng’s two products hold () 699 million shares, and the company’s share price has risen by more than 40.53% this year.

　　For the "skyrocketing" gold price and gold stocks, can the market continue and will there be a main upswing? A number of institutions have released the latest research and opinions.

　　() believes that gold stands at the starting point of the medium and long-term bull market, and the elasticity of gold stocks is about 2.23 times that of gold prices. National Gold Securities believes that it is expected that the Federal Reserve will release a "easing signal" in Q2, which will become the starting point for the rising wave of gold stocks. In addition, a number of private equity companies believe that multiple positive resonance, the metal attributes of resource products are activated, and the consumption of non-ferrous commodities is expected to drive the bulls of commodities and start a wave of "periodic table" markets.

　　Bridgewater (China) Investment’s three products are heavily invested in gold ETFs

　　Since the beginning of this year, gold seems to have escaped the "gravity", and the price of gold has continuously refreshed historical highs, making gold stocks ETFs popular with market funds. On April 3, after the opening of the gold stocks ETF (159562) under China Asset Management was delayed by an hour, there was another violent increase until the daily limit. The ETF has risen by the limit for three consecutive days, and the premium rate is as high as 30%, setting a record.

　　Gold stocks ETFs are highly speculated by the market and cannot be separated from the rapid rise in gold prices. Since April, gold prices have continued to refresh historical highs. From the perspective of international gold prices, as of the morning of April 6, Beijing time, the gold futures contract for June settlement on the New York Mercantile Exchange closed at $2349.1/ounce, up 1.76% on the day. London spot gold closed at $2329.57/ounce, an increase of 1.77%. International gold prices continued to hit a record high, rising 13% during the year.

　　The soaring price of gold has also made the investment boss in the layout earn a lot of money. Foreign private equity Bridge Water (China) investment has a "soft spot" for gold. According to private placement network data, Bridge Water (China) investment’s three products are heavily invested in gold ETFs, totaling 181.90 million fund shares.

　　Specifically, Bridgewater’s all-weather enhanced China Private Offering Fund No. 2 holds shares of Bosera Gold ETF and E Fund Gold ETF. Bridgewater’s all-weather enhanced China Private Offering Fund No. 3 holds shares of three ETF products including Bosera Gold ETF, Huaan Gold Easy ETF and E Fund Gold ETF. Bridgewater’s all-weather enhanced China Private Offering Fund No. 1 holds shares of Bosera Gold ETF and E Fund Gold ETF.

　　For the "skyrocketing" gold price, Soochow Securities Research Report believes that gold usually declines three months before interest rate cuts. Therefore, as the interest rate cut cycle approaches, a pullback in gold will be highly likely. If you refer to the experience of gold standing at $1,000/ounce in 2009, 20% may be a hurdle, which also means that there may be some pullback pressure near $2,400/ounce.

　　"Torrential" gold stocks ushered in the main wave?

　　Regarding the "skyrocketing" gold price, Tianfeng Securities Research Report believes that gold is standing at the starting point of the medium and long-term bull market. Looking at the big cycle, it is most likely that it is in the middle and early stages of the gold bull market. There are favorable factors such as interest rate cut expectations, high inflation, and a downward dollar index on the macro level. Looking at the small cycle, the US dollar and US bond yields are declining, and the real interest rate may enter a downward cycle, superimposing the risk-off demand generated by geopolitics. Gold is currently in the middle of the rising stage of the small cycle paradigm, gradually moving towards a new high. At the beginning of this round of gold’s rising cycle, the elasticity of gold stocks is about 2.23 times that of gold prices

　　The latest research report of Guojin Securities strongly recommends paying attention to the main rising wave of gold stocks. The research report believes that under the combined effect of factors such as the good performance of gold stocks in 1Q2024 and the "easing signal" released by the Federal Reserve, 2Q2024 will usher in the main rising wave of gold stocks. The current market value of gold stocks does not reflect the expectation of a rise in gold prices, and may make up for it in the future. Based on the dimension of the Federal Reserve’s first interest rate cut in June, Guojin Securities expects that the Federal Reserve will release a "easing signal" in Q2, which will become the starting point for the main rising wave of gold stocks.

　　Xu Zhiyun, a partner of Ruisheng Investment, told reporters that the current round of gold prices has long been out of the previous real interest rate framework. Behind it is the purchase behavior of global central banks, which is essentially distrust of the US dollar system, which has led to the return of gold to monetary attributes. The swing of the Federal Reserve’s interest rate cut expectations has a short-term disturbance to market confidence, but as long as the market still believes that interest rate cuts are only a matter of time and rhythm, the central bank’s continued purchase behavior of gold will not change, and the long-term upward price of precious metals, including resource goods, is supported.

　　It is worth noting that tens of billions of private high-tech assets Deng Xiaofeng in this wave of gold bull market made a lot of money, Deng Xiaofeng management of Gao Yi Xiaofeng No. 2 letter fund heavily held Zijin Mining 401.7775 million shares, Gao Yi Xiaofeng Hongyuan fund also held Zijin Mining 297.05 million shares at the end of the period, Deng Xiaofeng’s two products together held Zijin Mining 699 million shares. As of April 3, Zijin Mining shares rose more than 40.53% this year.

　　"Periodic Table of Elements" market opens

　　Guangdong Xiaoyu Investment Li Shiyu told reporters that a major reason for the recent strengthening of resource stocks is that the market expects the Federal Reserve to start cutting interest rates this year. Secondly, due to geopolitical friction and risk impact, gold prices have been on the rise this year, and international gold prices have continued to hit record highs, which has also stimulated the price performance of other related resource products. The performance of gold prices is currently desensitizing interest rate hikes, and many historical trends have proved that the continuous rise of gold prices to new highs is the leading signal of a bull market in commodities.

　　Li Shiyu said that the Federal Reserve’s interest rate hike cycle will eventually end this year. Although there are "twists and turns", it will not affect the start of the interest rate cut cycle in 2024. The weak expectation of the US dollar will stimulate the "financial attributes" of non-ferrous metals. Coupled with the recovery of domestic and foreign demand, the PMI will rebound beyond expectations, which will greatly promote the consumption growth of non-ferrous commodities and is expected to start a new round of demand for some resource commodities.

　　Xu Zhiyun told reporters that the trend of the resource sector is strong, corresponding to the overall rise in the prices of important commodities such as gold, copper, and oil. The first is that the financial attributes of resource commodities are being fully activated. The market expects that the world will end the rapid interest rate hikes of the past two years and enter the interest rate cut cycle. In addition, the liquidity of the sky is still there, and resource commodities that are still at a low level compared with other major assets will be favored. As the commodity with the strongest financial attributes, gold prices continue to brush out record highs is a sign that financial attributes have been activated. Optimistic about the future rise of resource commodities, which is currently a rising dessert area, but we should also pay attention to the rhythm of surfing. Precious metal prices can be used as a leading indicator

　　Chen Hongbing, chairperson of Anhui Meitong Asset, told reporters that the recent strengthening of non-ferrous metals such as gold, copper and aluminum, the first is the expectation of the Federal Reserve to cut interest rates. Historically, the Federal Reserve has officially entered the interest rate reduction cycle, and the price of gold has a very high probability of rising during this period; secondly, the shortage of supply and demand! For example, the production reduction/shutdown of overseas copper mines will reduce the output of global copper concentrates by about 400,000 tons in 2024, and the expectation of market supply balance will be completely reversed into a shortage. Under the expectation of overseas interest rate cuts, the manufacturing industry is expected to recover, and the global resonance replenishment pool has completely fermented the market’s logic for copper supply problems. The logic of aluminum is similar. On the demand side, the industry has entered the traditional peak season

　　Ma Cheng, chairperson of Shenzhen Juze Investment, said that the recent performance of resource stocks is strong, first of all, the market estimates that the Federal Reserve will cut interest rates in the second quarter in the future, and commodity prices are expected to rise; second, the latest domestic PMI in March reached 50.8%, the data exceeded expectations, and the economy returned to the expansion range, which means that our country’s economy has recovered rapidly and is expected to drive resource commodity prices; third, the recent deterioration of the situation in the Middle East has stimulated the sharp rise in international crude oil prices and gold prices.

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[Autohome Kunming Discount Promotion Channel] brings you the latest car purchase discount information! At present, this high-profile model is conducting a vigorous promotion in Kunming area, with a maximum discount amount of 18,000 yuan, providing consumers with real car purchase benefits. The starting price has been reduced to 161,900 yuan, which is very attractive. To seize this opportunity to get more detailed price reduction details and pickup prices, be sure to click the "Check Car Price" button in the quotation form to make your car purchase journey more cost-effective.

The body of the Jietu Shanhai T2 is smooth and powerful, showing a unique side design aesthetic. The body size is 4785mm*2006mm*1875mm and the wheelbase is 2800mm, providing a solid foundation for the interior space. The design of the front wheelbase of 1685mm and the rear wheelbase of 1695mm ensures the stability of the vehicle. In terms of tire specifications, the 255/60 R19 wide tires are used at the front and rear, which not only provide good grip, but also complement the wheel style, creating a dynamic side image of the vehicle.

The interior design of Jietu Shanhai T2 combines modern and minimalist styles to create a warm and comfortable driving environment. The steering wheel is wrapped in advanced leather to provide a good grip, and supports manual up and down + front and rear adjustment to ensure driver comfort and convenience. The center console is equipped with a large 15.6-inch screen, which integrates functions such as multimedia system, navigation, phone and air conditioning control. Intelligent operation is realized through automatic speech recognition system to enhance driving pleasure and convenience.

In terms of seats, Jietu Shanhai T2 is made of imitation leather and leather/fabric mixed and matched materials to ensure comfort and durability. The main driver’s seat supports front and rear adjustment, backrest adjustment and high and low adjustment, while the passenger seat also has similar adjustment functions. The second row of seats is only equipped with backrest adjustment, which is suitable for maintaining comfort during long-distance rides. In addition, the rear seats also support proportional reclining, which enhances the flexibility of storage space. The overall interior design focuses on practicality and humanization, creating a intimate riding experience for passengers.

With a 1.5T turbocharged engine with 156 horsepower output and a maximum torque of 220 N.m, the Jetto Mountain Sea T2 is paired with a 3-speed DHT transmission to provide a powerful and efficient driving experience.

As the owner of Autohome said, Jietu Shanhai T2 is not only unique in appearance, but also impressive in the sophistication and details of its interior. In terms of driving experience, it fuses technology and humanization perfectly, making every trip a pleasant journey. To sum up, Jietu Shanhai T2 is a masterpiece that combines beauty, comfort and performance. It has won the love of many car owners with its unique charm and excellent performance. I believe it will continue to lead the trend on the road in the future, bringing more surprises and expectations to drivers.

Feature: Picture Channel

　　On the evening of July 14, "HEART AID Sichuan", a large-scale benefit performance attended by more than ten famous singers and musicians from China, Japan and South Korea, including Guo Fucheng, Zheng Yijian, Lin Yilian, W-inds, Dongyi Hideu, JULY John-Hoon, and more than ten other famous singers and musicians from China, Japan and South Korea, was held in Tokyo, Japan. The picture shows Guo Fucheng singing "Strong" to cheer for Sichuan. Posted by China News Agency, photographed by Zhu Yanhua

　　The "1/2008 Public Welfare Short Film Action" initiated by Shanghai Media Group is still underway. Directors such as Chen Kaige, Xie Jin, Zhang Yibai, Lu Chuan, Gu Changwei, Wang Xiaoshuai, Wang Guangli, and Chen Jialin have completed filming and started post productin. Recently, Guan Jinpeng also completed the shooting of the short film "Landing" in Hong Kong. Guo Fucheng, one of the "four kings" of Hong Kong’s entertainment industry, plays a husband waiting for his wife to give birth outside the delivery room. It is reported that Lin Baoyi, a famous Hong Kong TVB actor, has also joined the short film.

　　◎ Guan Jinpeng: The whole film should be full of true feelings

　　Guan Jinpeng’s short film, titled "Landing", tells the story of a child who was born during the earthquake. Guan told reporters: "The idea came from a coverage. On the day of the earthquake, all the healthcare workers in Chengdu West China Hospital stayed at their posts and brought courage and health to the patients. Such a small thing, in the context of the earthquake, seems extraordinary. Art comes from life, so I think it should be interpreted as such a true story."

　　Director Guan Jinpeng said that this activity initiated by SMG is very meaningful. The proceeds of the film can fund the reconstruction of the disaster area, and the film itself is a spiritual mutual assistance. Since it is necessary to convey the truth, the whole film must be filled with true feelings.

　　◎ Guo Fucheng: Contributing to the disaster area is an honor and an obligation

　　In the past, Guo Fucheng gave the impression of the most handsome and good-dancing "King of Heaven", but in the film "Father and Son", Guo Fucheng’s acting skills were greatly praised and received rave reviews. Later, he won the "Golden Horse Award" for Best Actor. I don’t know if Guan Jinpeng invited Guo Fucheng to shoot a short film because of his recognition of his acting skills. When he received a call from Guan, saying that SMG had launched such a charity event and asked if he could come, Guo Fucheng’s reaction was: "Tell me the time and place, and I will definitely take this role." He said that it is an honor and an obligation to contribute a little to the disaster area. No matter how tight the schedule is, it will take time. In one scene, Guo Fucheng waits for his wife to give birth outside the delivery room during the earthquake. To simulate the tremors when an earthquake comes may seem difficult for a person who has not experienced a major earthquake, but he found the feeling after trying a few times. During the play, those real news images haunted his mind, so it was not very difficult to play such a character who experienced an earthquake. He said that knowing that all the proceeds of the film will be donated to the reconstruction of the disaster area is very meaningful. In fact, he has always wanted to contribute to the reconstruction of the disaster area, so he cherished SMG for providing such an opportunity, and he will definitely play this role seriously.

Editor in charge: Li Erqing

　 　 1905 movie network news It is reported that the film directed by Feng Xiaogang, written by Liu Zhenyun, and starring Fan Bingbing was shortlisted for the main competition unit of the 64th San Sebastian International Film Festival, and as the only Chinese film shortlisted, it competed for the highest award of the film festival, the "Golden Shell Award". At the same time, Fan Bingbing was also shortlisted for the best actress. It is worth mentioning that Fan Bingbing, who has won the Tokyo Film Festival Post-Film Award, is also shortlisted for the fourth time in the International A Film Festival.

　 　 Fan Bingbing played the village woman Li Xuelian in the movie "I Am Not Pan Jinlian". In order to refute her husband’s framed accusation, Li Xuelian insisted on complaining for ten years, just to prove her innocence. In the film, Fan Bingbing changed his beautiful image in the hearts of the public and appeared in a rustic village woman for the first time. In the currently exposed stills and trailers, Fan Bingbing’s wonderful performance and unprecedented shape have attracted the attention of the majority of netizens. This film is the second collaboration between Feng Xiaogang, Liu Zhenyun, and Fan Bingbing in 12 years after the film. "I Am Not Pan Jinlian" uses a special presentation technique to bring a unique viewing experience to the audience.

　 　 Since 2007, the films starring or acting in Fan Bingbing have been shortlisted for the main competition unit of the International Class A Film Festival four times. In 2007, Fan Bingbing was shortlisted for the main competition unit of the Berlin International Film Festival with the film "Apple"; in 2010, she was shortlisted for the main competition unit of the Cannes International Film Festival with the film; in the same year, the film starring Fan Bingbing was shortlisted for the main competition unit of the Tokyo International Film Festival, and she also won the Best Actress Award, becoming the first post-80s actress in the Chinese film industry to win the International A-category Film Festival; in 2016, the film "I am not Pan Jinlian" directed by Feng Xiaogang, written by Liu Zhenyun, and starring Fan Bingbing was shortlisted for the main competition unit of the San Sebastian International Film Festival, and Fan Bingbing was also shortlisted for the best actress. The movie "I Am Not Pan Jinlian" and Fan Bingbing’s performance have not only been appreciated and recognized by the international film industry, but also increased the audience’s expectation of the film. It is reported that the movie "I Am Not Pan Jinlian" will be released nationwide on September 30.

　　The Ministry of Transport announced today (25) that as of February 28, a total of 222 online car-hailing platform companies across the country have obtained the operating license of the online car-hailing platform, and a total of 3.291 million online car-hailing driver licenses and 1.229 million vehicle transportation licenses have been issued. The online car-hailing platform companies registered a total of 58,000 compliance drivers in February, and 22,000 newly registered compliance vehicles. Among the online car-hailing platform companies with more than 1 million orders in February, the order completion rate according to double compliance was from high to low, respectively, Endao Travel (increased from 79.2% in January to 82.1%), T3 Travel, Cao Cao Travel, Shouqi Car-hailing, Ruqi Chuxing, Didi Chuxing, Meituan Taxi, Wanshun Taxi, Hua Xiaozhu Chuxing (decreased from 16.1% in January to 15.2%).

　　In order to ensure the safety of the lives and property of the general public, take a regular online taxi, on March 19, the "online booking taxi compliance information inquiry service" system has been launched. Log in to the official WeChat official account of the Ministry of Transport, find "online taxi compliance inquiry" in the "service" menu bar, click on it, enter the license plate number of the vehicle to take, you can check the compliance of the car. In the past 6 days, according to monitoring, the number of visits per hour during peak hours has exceeded 100,000 times.

　　According to the relevant regulations of online car-hailing management, compliance online car-hailing driver refers to a driver who has passed the background check, passed the assessment, met the conditions stipulated by the city people’s government, and obtained the "Online Reservation Taxi Driver’s License"; compliance online car-hailing vehicle refers to a vehicle that has installed emergency alarms and other devices, whose technical performance meets the relevant standards of operational safety, is registered as an appointment taxi passenger and has obtained the "Online Reservation Taxi Transport License".

　　Compliance of online car-hailing drivers and vehicles means more secure safety and better service. In order to ensure ride safety and service experience, the Ministry of Transport reminds passengers to choose compliant online car-hailing. (CCTV reporter, Tang Ying)

　　[PConline Talk]A person uses too many mobile phones, and there is like a mourning hall in his heart, offering sacrifices to classic interactions that have passed away. – To Qingming Festival.

　　"Qingming cold food is good, spring comes with a hundred flowers blooming". The annual Qingming Festival is coming, and in this season of cautious pursuit and mourning, we might as well reminisce about those classic interactions on our mobile phones.

Meizu dots

　　Meizu’s small dots are a beautiful memory of many people’s classic interaction with domestic mobile phones. When the MX2 was first released, its exquisite texture really amazed many people. At that time, the small dots took a breath, a light and a extinction, making the originally cold mobile phone seem to be endowed with spirituality, which is not only full of smart beauty, but also cool technology.

　　Before the appearance of Meizu’s small dots, Android was still almost all mediocre three King Kong keys. When the M9 switched to the Android system, Meizu redesigned the three King Kong keys. The return key is an arrow, the menu key is a square, and the Home key is a solid rounded rectangle. We still see similar concepts on many mobile phones today.

　　When it came to MX2, Meizu radically changed its thinking and launched small dots, which were not only beautiful, but also practical. The combination of many functions, such as tapping to return to the homepage, long pressing to turn off the screen, pressing and holding to swipe up to return, and double clicking to wake up the screen, is simply an amazing idea.

　　Later, with the rise of fingerprint recognition sensors, the paranoid Meizu had to put fingerprint recognition on the front of the phone, so they had the same commendable waist circle button. The classic small dots began to gradually disappear from Meizu’s mobile phone after the MX4 Pro, becoming a beautiful scenery in people’s memories.

Nokia Side Slide Unlock

　　When it comes to Nokia, in addition to smashing walnuts and blocking bullets, you may also think of the Carl Zeiss camera, the boot interface with big hands and small hands, and the side-swipe unlock mentioned in this article.

　　In the eyes of many people, Nokia is a period of warm green years like a movie screen. It is the throb of youth typing love letters blindly on the table, the steady and stable sound of falling from the fifth floor and still ringing familiar bells, and the boredom of taking it out of the pocket again and again to unlock, lock the screen and lock the screen.

　　Back then, we didn’t have so many secrets. We needed all kinds of passwords, patterns, fingerprints, and irises to protect our phones. Simply, we were like Nokia’s side-swipe unlock.

BlackBerry Trackball

　　BlackBerry was once the dominant mobile phone, dedicated to maximizing the productivity of mobile phones. The QWERTY full keyboard and trackball are its shiny symbols. People’s yearning for business elites and the unique design of BlackBerry make BlackBerry always shrouded in a cool glow.

　　When it comes to trackballs, many people will unconsciously associate the little red dot on the Thinkpad keyboard, both of which are classic designs that pay tribute to productivity. Trackballs are to mobile phones what mice are to computers. You can choose or click on the screen flexibly. Not only BlackBerry, but also HTC’s flagship phones back then. This design was used from the original HTC G1 to the G9.

　　Later, with the rise of full-touch mobile phones, this function began to gradually withdraw from the stage of history. In fact, in some aspects, trackballs are more accurate in positioning and navigation than directly touching the screen.

Full keyboard and side swipe keyboard

　　Back in the day, when a QWERTY keyboard was launched from the chubby body of a side-swipe phone, it was a super mini PC. The side-swipe keyboard phone still looks so cool that if you type with a side-swipe keyboard on the street now, it will definitely cause a burst of screams.

　　When Nokia and Motorola were still sitting at the top of the industry, they launched many classic models, such as the first-generation King N97 and the well-deserved milestone Motorola Milestone (Milestone). The reason why this design became popular at the time was far more than its refreshing appearance. In today’s words, it was obvious that it could eat with its face. Talent. For example, when handling a large number of text tasks, the QWERTY keyboard works better when paired with the touch screen to handle tasks.

　　Obviously, the side-swipe keyboard is a cool and practical function, why did it finally leave us? In this era of lightness, the internal space of the mobile phone with an inch of land can no longer accommodate the module of the side-swipe keyboard component. Now the side-swipe mobile phone can only lie in the dusty drawer with the memory of youth for people to remember.

Conclusion

　　Time is too fast, and the once beautiful things have been buried in the depths of time. But memories are not the shackles that hold us back. In the world of science and technology, moving forward is the greatest pleasure! Forget the peak standing behind you, in order to run to the next higher peak.

　　Source, Lei Di

　　Lei Di.com, Lei Jianping, March 5

　　NIO Group (NYSE: NIO; HKEx: 9866; SGX: NIO) today released financial results. The financial report shows that NIO’s full-year revenue in 2023 is 55.6179 billion yuan (7.8336 billion US dollars), an increase of 12.9% from 49.269 billion yuan in the previous year.

　　NIO delivered 160,038 vehicles in 2023, an increase of 30.7% over 2022.

　　NIO’s gross profit in 2023 was 3.0518 billion yuan (429.80 million USD), down 40.7% from the previous year; gross margin was 5.5%, compared to 10.4% in the previous year.

　　NIO’s 2023 operating loss was 22.6552 billion yuan (US $3.1909 billion), up 44.8% from the previous year. Excluding equity incentive expenses, the adjusted operating loss (non-GAAP) in 2023 was 20.2861 billion yuan (US $2.8572 billion), up 52% from the previous year.

　　NIO’s net loss for 2023 was 20.7198 billion yuan (US $2.9183 billion), up 43.5% from the previous year. Excluding equity incentive expenses, the adjusted net loss (non-GAAP) for the full year 2023 was 18.3507 billion yuan (US $2.5846 billion), up 51.1% from the previous year.

　　Li Bin, founder, chairperson and CEO of NIO, said that in 2023, NIO set a new record for the delivery of 160,038 vehicles. On 2023 NIO Day, we launched the intelligent electric executive flagship ET9, showcasing a series of latest technologies such as self-developed AD chips, global 900V architecture, intelligent chassis system and other industries. "

　　"We are about to start delivering the NIO 2024 model, which is equipped with the most powerful computing power in the production car, and continue to improve the user’s driving and digital experience. At the same time, we plan to introduce the NOP + urban pilot auxiliary feature to all NT2.0 users in the second quarter. Continued investment in technology, power exchange network and user community will enhance our advantage in future competition," said Li Bin.

　　"Our automotive gross margin continues to grow, reaching 11.9% in the fourth quarter of 2023," said Beng Wei, NIO’s chief financial officer. "In December 2023, we completed a $2.20 billion strategic equity investment from CYVN, underscoring our unique positioning and competitiveness in the global smart electric vehicle industry. Looking to 2024, we will focus on high-priority business objectives, improve system capabilities, and further optimize cost management efficiency."

　　NIO Q4 revenue 17.10 billion up 6.5%

　　NIO’s fourth quarter 2023 revenue 17.1032 billion ($2.4089 billion), up 6.5% from $16.06 billion in the fourth quarter of 2022 and down 10.3% from $19.10 billion in the third quarter of 2023.

　　NIO’s vehicle sales for the fourth quarter of 2023 were 15.4387 billion yuan ($2.1745 billion), up 4.6% from the fourth quarter of 2022 and down 11.3% from the third quarter of 2023.

　　NIO delivered 50,045 vehicles in the fourth quarter of 2023, including 33,679 high-end smart electric SUVs and 16,366 high-end smart electric sedans, an increase of 25.0% from the fourth quarter of 2022 and a decrease of 9.7% from the third quarter of 2023.

　　NIO delivered 10,055 vehicles in January 2024 and 8,132 vehicles in February 2024. As of February 29, 2024, NIO’s cumulative deliveries reached 467,781 vehicles.

　　Just completed $2.20 billion equity financing

　　NIO has applied to the competent authorities in Anhui Province to complete the filing of investment projects for pure electric passenger vehicles, and has been included in the directory of automobile manufacturers of the Ministry of Industry and Information Technology.

　　On 27 December 2023, NIO completed a US $2.20 billion strategic equity investment from Abu Dhabi-based investor CYVN Investments RSC Ltd (‘CYVN’). Together with the transaction previously completed in July 2023, CYVN beneficially holds approximately 20.1% of the total issued and outstanding shares of the Company.

　　On February 7, 2024, NIO appointed Eddy Georges Skaf and Nicholas Paul Collins as new directors to the company’s board of directors. In addition, on the same day, James Gordon Mitchell resigned as a director of the company.

　　On February 1, 2024, NIO completed the Offer of Repurchase Rights relating to its 0.00% Convertible Senior Notes due 2026 (the’Notes’). The aggregate principal amount of the Notes validly filed and unwithdrawn prior to the closing of the Offer of Repurchase Rights is $300 million. After the Repurchase Settlement, the aggregate principal amount of the Notes remains outstanding at $910,000 and continues to be subject to the existing terms of the Deed and the Notes.

　　NIO Q4 cost 15.80 billion increased by 2%

　　NIO cost $15.80 billion in the fourth quarter of 2023, up 2% from $15.40 billion in the same period last year.

　　NIO Q4 Gross 1.279 billion Gross Margin 7.5%

　　NIO’s gross profit for the fourth quarter of 2023 was 1.2792 billion yuan (180.20 million USD), an increase of 105.7% from the fourth quarter of 2022 and a decrease of 16% from the third quarter of 2023.

　　NIO’s gross margin was 7.5% in the fourth quarter of 2023, compared to 3.9% in the fourth quarter of 2022 and 8% in the third quarter of 2023.

　　NIO’s automotive gross margin was 11.9% in the fourth quarter of 2023, compared to 6.8% in the fourth quarter of 2022 and 11% in the third quarter of 2023.

　　NIO Q4 expenses 7.90 billion increased by 7%

　　NIO’s expenses for the fourth quarter of 2023 were $7.90 billion, up 7% from $7.36 billion in the same period last year and up 24% from $6.37 billion in the previous quarter.

　　NIO’s research and development expenses for the fourth quarter of 2023 were 3.9721 billion yuan (US $559.50 million), a decrease of 0.2% from the fourth quarter of 2022 and an increase of 30.7% from the third quarter of 2023. Excluding equity incentive expenses, research and development expenses (non-GAAP) were 3.6164 billion yuan (US $509.40 million), an increase of 1.8% from the fourth quarter of 2022 and 36.8% from the third quarter of 2023.

　　R & D expenses remained relatively stable compared to the fourth quarter of 2022. R & D expenses increased compared to the third quarter of 2023, mainly due to higher design and development costs for new products and technologies and higher personnel costs in the R & D department.

　　NIO’s R & D expenses for the full year 2023 were 13.4314 billion yuan (US $1.8918 billion), up 23.9% from the previous year. Excluding equity incentive expenses, R & D expenses (non-GAAP) were 11.9142 billion yuan (US $1.6781 billion), up 25.2% from the previous year.

　　NIO’s selling, general and administrative expenses for the fourth quarter of 2023 were $3.9727 billion ($559.50 million), up 12.6% from the fourth quarter of 2022 and 10.1% from the third quarter of 2023. Excluding equity incentive expenses, selling, general and administrative expenses (non-GAAP) were $3.7815 billion ($532.60 million), up 16.1% from the fourth quarter of 2022 and 10.4% from the third quarter of 2023.

　　NIO’s selling, general and administrative expenses in 2023 were $12.8846 billion ($1.8148 billion), up 22.3% from the previous year. Excluding equity incentive expenses, selling, general and administrative expenses (non-GAAP) were 12.1167 billion ($1.7066 billion), up 25.8% from the previous year.

　　NIO Q4 operating loss 6.6253 billion operating margin -39%

　　NIO’s fourth quarter 2023 operating loss 6.6253 billion ($933.20 million), down 1.6% from the fourth quarter of 2022 and up 36.8% from the third quarter of 2023.

　　Excluding equity incentive expenses, the adjusted operating loss (non-GAAP) for the fourth quarter of 2023 was 6.0593 billion ($853.40 million), an increase of 0.7% from the fourth quarter of 2022 and 42.9% from the third quarter of 2023.

　　NIO Q4 net loss 5.3677 billion narrowed year-on-year

　　NIO’s fourth quarter 2023 net loss was 5.3677 billion ($756 million), down 7.2% from the fourth quarter of 2022 and up 17.8% from the third quarter of 2023. Excluding equity incentive charges, the adjusted net loss (non-GAAP) for the fourth quarter of 2023 was 4.8017 billion($676.30 million), down 5.2% from the fourth quarter of 2022 and up 21.5% from the third quarter of 2023.

　　As of December 31, 2023, NIO held cash and cash equivalents, restricted cash, short-term investments and long-term time deposits of $57.30 billion (USD 8.10 billion).

　　NIO expects Quarter 1 vehicle deliveries in 2024 to be between 31,000 and 33,000, a decrease of about 0.1% from the same quarter in 2023 to an increase of about 6.3%.

　　NIO expects Quarter 1 revenue in 2024 to be between 10.499 billion yuan ($1.479 billion) and 11.087 billion yuan ($1.562 billion), a decrease of about 1.7% from the same quarter in 2023 to an increase of about 3.8%.

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)

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 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."