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."

　　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?

"Big factories should lower their profile, so that they can do a good job in the’big ‘business of’a few taels of silver’ among all living beings."

Author/Xuan Qing

On the night of November 27, Didi Chuxing experienced "system paralysis". The Didi Chuxing APP in Shanghai, Beijing, Guangzhou and other places could not be used, and the map could not be loaded. Some netizens said that after using Didi to call the online car-hailing, the APP suddenly could not be used, and the driver could not find the passenger. On the morning of the 28th, Didi Chuxing issued an apology, saying that after the technical team repaired overnight, some Didi online car-hailing services had been restored.

This Didi system crash is a total paralysis. Not only the user side cannot be used normally, but also the driver side and Didi’s intranet have problems. It is reported that the functional paralysis lasted for nearly 12 hours, which is also the longest failure of Didi Chuxing in recent years. It is identified as P0 level (P0 level failure is the most serious, with the greatest impact, and important functions related to core business are not available).

It was not until the 29th that Didi officially released the investigation results, saying that the cause of the accident was "the failure of the underlying system software", and all services of the Didi App have been restored.

So far, the first large-scale technical obstacles for the largest online car-hailing company on the whole network have been temporarily ended.

Interestingly, after an Internet company suffered a major failure of network technology and calmed down the storm for two days and one night, it triggered an "avalanche" effect.

01

Credit plummets, runs begin

After the incident, perhaps Didi’s public relations response to the crisis was lagging behind. When users did not receive reliable feedback at the first time, there was a panic of cashing in. The topics of "a driver’s income exceeded 69 billion yuan" and "some Didi drivers began to withdraw cash" suddenly rushed to the hot search, triggering a chain reaction.

On the afternoon of the 28th, some Didi drivers began to withdraw cash and advertise it in the internal group.

"Everyone in the group is saying that Didi has collapsed. It’s not a problem of a few cities. The situation of collapse is still varied. Some people can’t open the map, some people can’t hear the voice instructions, and some people have been cancelled more than a dozen orders for no reason." The driver reported that due to system obstacles, he is very worried about illegal deduction points and misjudgment, so he will not take orders easily.

The most important thing is that some time ago, Didi changed the withdrawal rules. Drivers with level L1 cannot withdraw cash every day, which makes some drivers very angry: "Now there is a problem with the system again, and our attendance points are affected. If the account money is less, who can tell?"

There are also drivers who hope to take advantage of the "loophole" in the system to withdraw cash as soon as possible. "The maximum withdrawal is 3 times on the same day, and each time it does not exceed 5,000 yuan. If someone wants to take the opportunity, they can withdraw as much as they want." Even if they can’t bring it up, they also consider transferring to financial management to buy Didi’s own "Didi Kumquat Treasure". In short, they cannot keep all the funds in the account.

This is not the first time that Didi owners have questioned the withdrawal rules, but the system paralysis has once again touched the sensitive nerves of drivers who have run wild due to the "overlord clause".

It is unfair that so much money is being put into the Didi system for free. Previously, many drivers claimed that they were not given withdrawal rules when they registered with Didi, nor were they told whether the funds in their accounts were eligible for deposit, nor did they sign relevant agreements.

Over the ownership of funds and safety issues, Didi has been unable to establish a trust relationship with the majority of drivers. There was a post on the Internet of "clever withdrawal" and "looking for withdrawal loopholes", which also shows that the two sides are in a state of departure from defense.

02

The trick behind the withdrawal

While Didi drivers are frantically withdrawing cash, many netizens are also reflecting on how to ensure the safety of funds if the online car-hailing platform is paralyzed. At present, major online car-hailing payment and capital account platforms have restrictions on withdrawal time and quota.

Some platforms even play "trick". Some drivers find that when using a certain platform, if they choose to withdraw cash, the system will display "need to wait", and when the time is up, it will become "outdated"; some drivers want to withdraw and cancel the account, but the customer service says that the withdrawal is limited to 20 minutes, and if they want to cancel, they must have "zero balance".

Such as disordered withdrawal time, delayed arrival of money, and indiscriminate deduction of performance are common problems in the current online car-hailing market. No matter what kind of business model, old drivers have also begun to be vigilant, because the "harsh" of online car-hailing platforms in terms of money is often a precursor to the collapse of the company. Such as Zebra, Yidao, Wanshun, Jiqi and other online car-hailing platforms, there have been situations where "it is difficult to withdraw cash, there are many tricks, and playing tricks".

Previously, there was a "partner model" that was popular in the car circle, that is, the driver signed a water withholding agreement with the leasing company and paid the service fee. The online car-hailing aggregation platform deducted the running income from the driver’s account to the leasing company’s account every week, and the leasing company earned this running money. This low-threshold rent has attracted a large number of small white drivers to join the small platform, but many people report that only the account balance can be seen at the settlement, and there is no withdrawal permission. The leasing company will return the remaining after the fee is deducted the next month.

Autonavi Maps and Baidu Maps are typical "aggregation platforms". On Autonavi alone, more than a dozen online car-hailing platforms have been aggregated, but the safety factor of these small online car-hailing platforms is too low. From consumers placing orders to drivers receiving orders, and then to the platform settling funds for drivers, there is no problem with this closed-loop transaction itself. But since leasing companies involve capital precipitation, it is likely to form a so-called "capital pool".

According to industry sources, the online car-hailing platform has touched the "second settlement" red line of supervision by transferring customer funds without obtaining the "Payment Business License" and then settling the settlement with the platform’s secondary merchants by the online platform. There are potential operational or financial risks.

According to relevant data, there are currently 330 online car-hailing platform companies across the country that have obtained business licenses, but September data shows that 59 platforms have not transmitted data for more than 180 days. Most small and medium-sized online car-hailing platforms do not have "payment business" licenses. Many are on the verge of elimination, and the safety of funds is even more difficult to avoid.

As insiders say, many small ride-hailing platforms use the "guise of the Internet" to lure drivers into joining, but in fact they are doing illegal fund-raising.

03

Platform versus driver

From a deeper perspective, the "twisting" relationship between online car-hailing platforms and drivers has become more and more intense. "No matter which platform, the draw is more than 30%. And there are a lot of tricks in the delivery of orders." A driver who went to Beijing’s online car-hailing revealed that now the commission of Didi, Baidu and Autonavi has been continuously increased, and there have been problems such as opaque delivery orders, long-distance delivery orders, mandatory delivery orders, and no delivery orders during peak periods.

"This year’s business is too difficult, the number of orders is reduced, the commission is too high, and there are all kinds of algorithmic traps." Mr. Liu, an online ride-hailing driver, said that many platforms will "kill the goose and get the egg", and continue to take up the ante when they know that the driver is not making money or losing money.

"The platform knows very well that many Xiaobai drivers have signed a one-year lease contract, and even if they can’t do it, they will insist on expiring for one year, so the company has no fear." Mr. Liu said that no matter which city in the country, the online ride-hailing algorithm is suppressing the enthusiasm of drivers, and drivers are more willing to choose to take orders.

Users are not immune to the platform’s confrontation with drivers. Many users find that the cost of hailing a taxi during peak periods is one to three times that of usual, and even if the fare continues to increase, few drivers take orders. "During peak periods, we only take large orders over 20 kilometers, and we do not take short-distance orders." Some drivers said that when the platform’s commission is too high, they will start to take selective orders, so as not to "run more, lose more."

From the point of view of Didi withdrawal, there are many thunder in the growth of the online car-hailing platform, which is "picking up wool" from each other. When it is a win-win situation, each company is happy, and when it is in trouble, they are rushing away. How to cultivate a well-regulated, honest and compliant online car-hailing market requires the patience and sincerity of the platform.

Didi said in its latest announcement that the relevant losses will be calculated normally, and the payment will be made up one after another, and the driver’s word-of-mouth value and travel points will also be calculated normally, and the display will be resumed one after another. To show its sincerity, Didi’s "10 yuan apology subsidy" has been distributed across the network, hoping to restore its word-of-mouth. This is also a reassurance for everyone.

We hope that the big factories will lower their stance. Because only in this way can they do a "big" business of "a few taels of silver" among all living beings.

　　The 2024 Haoyue L has launched three models, and the market guidance price is 127,900-147,900 yuan. The new car has upgraded the central control large screen and the car system, in which the central control screen has been upgraded from the current 12.3 inches to 14.6 inches, and the car system has also been upgraded from Galaxy OS to Galaxy OS 2.0 version.

　　The new Haoyue L adopts a brand-new design, and the domineering potential energy ice waterfall vertical grille is decorated with plating strips on the outside. The headlights on both sides are lens-shaped, with 244 LED beads inside, and the front face as a whole looks extremely tense. Haoyue L body adopts tough design lines, 19-inch wheels adopt five-width vortex design, and blackened wheel eyebrow components enhance the sense of strength of the vehicle. The length, width and height of the new car are 4860/1910/1770mm and the wheelbase is 2825mm respectively. The tail adopts penetrating taillights, and the red decorative strip is very obvious. There is a thick exhaust decoration on each bumper, and the layout is simple.

　　The 2024 Haoyue L central control large screen has been upgraded from the current 12.3-inch to 14.6-inch, and the car system has also been upgraded from Yinhe 0S to Yinhe 0S 2.0 version. At the same time, the cockpit chip has also been upgraded from E02 of 12nm to E04 of 7nm, and the running memory and storage memory have been significantly upgraded. The central control screen is larger, the car system is more stable, the function is more perfect, and the chip computing power is stronger. The overall operation fluency of the 2024 Haoyue L car machine has increased by 25%, and the startup speed of the APP has increased by 18%. In terms of interior color, the 2024 Haoyue L has added a brand-new Danxia red color scheme, replacing the current desert brown color scheme. At the same time, the new car has also optimized the details of the modeling scheme of the interior panel, further enhancing the luxury of the interior.

　　The 2024 Haoyue L has made a series of adjustments and optimizations to the standard Drive-E 2.0TD engine, and optimized the fuel label to No.92 on the premise that the maximum power of 160kW and the maximum torque of 325N·m remain unchanged, further reducing the cost of users’ cars. (Photo: provided by Geely Automobile)

　　Siming District is competing to showcase a high-quality business environment to global investors. The picture shows the Guanyinshan International Business Operation Center where the headquarters economy gathers.

　　▲ Siming District is a hot and blessed land for investment and business. The picture shows the beautiful scenery of Lujiang Road.

　　 Xiamen Network News (Xiamen Daily reporters, Wu Yanru, Lin Wen, correspondent, Xia Sixuan, this map/reporter, Huang Rong) Beautiful Ludao ushered in the "98 time" as scheduled, and guests from all over the world kicked off the feast of international capital.

　　At the location of the main venue of the Investment Fair, Siming, the hot land and blessed land for investment and business in the central city, is showing a high-quality business environment to global investors in a competitive manner. Data is the most powerful footnote: in the first half of this year, Siming District achieved a regional GDP of 120.30 billion yuan, an increase of 6.8% year-on-year, and the total amount and growth rate ranked first in the city. This is since the second half of 2009, after a lapse of 12 years, Siming District’s GDP growth rate has taken the first place in the city.

　　Those who are good at plotting go far, and those who do are successful. Siming District has made great efforts to "make the first move" in a good business environment, and issued the "Siming District Accelerates the Building of a World-Class Business Environment 2022-2023 Annual Enhancement Plan", focusing on key areas and key links to carry out research, promote the optimization and upgrading of the business environment, consolidate and deepen the construction of the province’s first business environment area, and upgrade the competitiveness of the marketization, rule of law, internationalization and facilitation business environment.

　　Key words [concept]

　　"Entrepreneurs are city partners"

　　When the "BRICS" meets the "Golden Key", the double gold superposition allows domestic and foreign merchants to see more investment opportunities.

　　Yesterday, the 4th BRICS New Industrial Revolution Partnership Forum was successfully held. At the meeting, Luckin Coffee from Siming District signed a letter of intent to purchase coffee beans in Brazil with Xiamen C & D, a top 500 Chinese company, Mitsui & Co., the largest green coffee bean trader in Asia, and the world’s second largest coffee trader, Swiss ECOM Group. According to the agreement, Luckin Coffee will purchase a total of about 45,000 tons of coffee beans in Brazil in the next three years. With the support of the Brazilian Embassy, it will continue to cooperate in the coffee industry in Brazil, share industrial concepts and industry practice experience, and promote cooperation in the coffee field to deepen.

　　This multi-party cooperation shows the world the huge opportunities and openness of the Chinese market, and also shows the strength and style of Siming District enterprises. "The signing of the Brazilian coffee bean cooperation letter of intent will continue to enhance Luckin Coffee’s supply chain capabilities, allowing consumers to better experience the coffee products and culture of high-quality production areas around the world." Luckin Coffee said that in recent years, Luckin has continued to invest in the coffee professional supply chain. Last year, Luckin imported more than 15,000 tons of green coffee beans, and this year it is expected to exceed 30,000 tons.

　　Luckin Coffee, which has its headquarters in Siming, is about to celebrate its fifth anniversary. At present, Luckin has more than 7,000 stores and has become one of the largest chain coffee brands in China. Guo Jinyi, chairperson and CEO of Luckin Coffee, said with emotion, "During the development of Luckin, the province, city and Siming District not only escorted the company when it was riding the wind and waves, but also provided help at the critical juncture of the company. Let us deeply understand that it was a very correct decision to settle here."

　　The heartfelt voice of enterprises is a heartfelt affirmation of Siming’s services. Siming District has firmly established the concept of "entrepreneurs are city partners", further optimized the CSO chief service officer mechanism, expanded government-enterprise communication channels, and deepened pro-Qing political and business relations. This year, Siming District has carried out in-depth special projects of "benefiting enterprises", established an Enterprise Services commissioner system and a quick coordination mechanism to help solve enterprise problems with heart. At the same time, focus on key enterprises and key projects, strengthen the combination of leadership linkage and hierarchical coordination, help to improve enterprise growth, and provide full-cycle services for project implementation. On September 4, under the leadership of the district party committee and district government, the Lianqian Street Chamber of Commerce was first established, which not only created a warm "home" for enterprises, but also helped the government and enterprises to interact benignly and communicate efficiently.

　　Heart-to-heart service, real help. This year, in the face of the impact of the COVID-19 epidemic, Siming District, while fully implementing higher-level policies, has timely launched 9 measures to assist enterprises in relieving and reducing costs. In the first half of the year, the accumulated industrial support funds and rescue funds exceeded 1.20 billion yuan, and the accumulated tax rebates, tax cuts and fee reductions reached 1.67 billion yuan, benefiting enterprises and individual industrial and commercial households over 46,000 times. In addition, a series of online consumption season activities were held, digital RMB consumption coupons were issued, and a series of cultural tourism consumption activities were held, which effectively promoted economic consumption.

　　Key words [pattern]

　　Deep integration of industry and city empowers enterprise development

　　In the continuous optimization of the business environment, Siming District takes advantage of the "big improvement on the island" and uses the thinking and pattern of deep integration of the industry and the city to play chess, injecting new momentum into development and giving new vitality.

　　In the eastern part of the island, the main venue of the Investment and Trade Fair, the rapid development of the area has attracted much attention. At present, the Kaiyuan innovation community in Siming District is rising rapidly with strong momentum. Good news from the Meiya Poko Group Headquarters Building and Smart City Innovation Center project located in this area: the main body of the building is in the accelerated construction stage, which is expected to be capped within the year and put into use by the end of 2023.

　　Luan Jiangxia, executive deputy general manager of Meiya Cupresso, said: "This building will be built as the research and development headquarters of Meiya Cupresso, the research institute of new smart cities, and the technical research center of Meiya Cupresso branches, subsidiaries and some ecological enterprises. We will focus on new smart cities, artificial intelligence, big data and other future industries to carry out new technology research and industry incubation. We also hope to help Siming District gather talents, promote the deep integration of industries and cities, and work together to create a benchmark for the city’s innovation-driven industrial upgrading."

　　As a rooting enterprise independently cultivated by Xiamen City and Siming District, Meiya Cupresso has become a strong representative of Siming District’s development of advantageous software information industry. Luan Jiangxia said that Siming District fully promotes enterprise development with an open attitude, international vision and accurate service. This year, Siming District also focused on launching the "Three-Year Action Plan for the Development of Software and Information Service Industry in Siming District", supporting the introduction of 9 supporting measures to promote the development of the software information industry from four aspects: supporting recruitment and recruitment, increasing production and efficiency, R & D and innovation, and attracting and retaining talents, including uncapped production incentives and one-time rewards for senior talents in big data. From another perspective, it also shows that the atmosphere of innovation and entrepreneurship in Siming District is particularly strong, and Siming District is determined to vigorously encourage and cultivate the rapid development of enterprises.

　　Based on the actual situation of the region, Siming District focuses on leading industries such as software and information services, financial services, business services, cultural and tourism creativity, and further coordinates and optimizes the industrial space layout of the region, promotes the integration of land resource elements, and provides a platform carrier for project landing and development. At present, key areas such as Kaiyuan Innovation Community and Binbei Super Headquarters are accelerating.

　　In Siming District, a hotland of innovation and entrepreneurship, the industrial high-energy, functional and high-quality space layout allows companies to take root and grow.

　　In the Guanyinshan International Business Operation Center, where the headquarters economy gathers, Anta Operations Center has been located in the area since 2012. In the past ten years, this fertile soil has witnessed the development of Anta Group from a Chinese enterprise to a world-class sporting goods group.

　　Li Ling, vice president of Anta Group, introduced that Anta Group opened the operation of Fila Building in Siming District this year, and what made Li Ling feel deeply was that "Siming District’s attentive service and policy support, as well as its unique environment, have attracted a large number of talents at home and abroad for the enterprise, bringing vitality to the development of the enterprise."

　　Siming District promotes the transformation and upgrading of traditional cultural tourism advantageous industries, and the key investment attraction project "Cultural Protection Wonderful Night" Hulishan Fortress Night Tour Project has developed eye-catching. This year, the project has been fully upgraded to version 2.0, landing the concept of "Yuan Universe", superimposing virtual and interactive scenes, and detonating Xiamen’s summer tourism market.

　　To empower the development of cohesive enterprises and stimulate the new vitality of resource elements, Siming District strives to promote the formation of an industrial development pattern with different characteristics, dislocation development and mutual support.

　　Key words [innovation]

　　Focusing on key areas to create a new model of business environment construction

　　Reform stimulates vitality, innovation is wide. Where there is demand for enterprises, Siming extends services to wherever they are.

　　Expand the government-bank cooperation model, Siming District established a government service area in the Guanyinshan International Business Operation Center this year on the basis of the pilot project of "government affairs + beneficial enterprises" service area of ICBC Urban Construction Sub-branch, and opened the Guanyinshan Park Service Center. The center provides "one-stop" services such as business establishment, tax-related processing, social security registration, beneficial enterprise policies, and e-government self-service for 2,100 enterprises and 40,000 employees in the area. In the first half of the year, more than 100 people provided various services such as market supervision, construction, taxation, and coordination of area construction, effectively opening up the "last meter" of government affairs for employees of enterprises in the area.

　　Deepen the reform of "decentralization, management and service", continue to optimize government services, and allow enterprises to go into battle lightly. As of the beginning of September, the whole district has entered 5,947 online service halls in Fujian Province, with 83.82% of the total process of online office, 96.52% of "no need to run one trip", and 99.88% of "no need to run one trip at most". At the same time, Siming District has broadened the supervision channels of government services, innovatively recruited enthusiastic people to serve as "government service experience officers" to the society. Focusing on themes such as "no-see approval", "simple cancellation of enterprises", and "accelerated retirement processing", it has combined "online experience + offline unannounced and unannounced visits" to check the level of government services. This year, 28 opinions and suggestions have been collected, and relevant departments have prescribed the right medicine and improved it.

　　The rule of law is the best business environment. Xiamen is making every effort to build the Haisi Central Legal District into an important platform for developing modern service industries, deepening reform and opening up, and building a market-oriented, rule of law and facilitation of international business environment. According to the requirements of the "Overall Construction Plan of the Haisi Central Legal District", in accordance with the overall layout of "one island and two districts are complementary and superimposed, the free trade area will be tested first, and the Siming area will be fully demonstrated." Siming Demonstration Zone will build a high-energy legal institution and a carrier of legal science and technology.

　　Siming District anchors goals, innovates ideas, adheres to a high position to promote organizational planning, incubates legal talents with a high vision, gathers legal resources with high efficiency, guarantees the implementation of high-demand projects, plans the layout of the area with high standards, optimizes the rule of law services with high quality, makes scientific plans and layouts, gathers resource elements, and strives to create a first-class rule-of-law business environment. At present, four enterprise units including Shenzhen Fadada Network Technology Co., Ltd., Fujian Chongyu Law Firm, and Xiamen Bar Association have successfully landed in Siming Demonstration Zone. The No. 1 Legal Fund of Haisi Central Legal District has successfully settled in Siming District. Four projects including Pigsy Network Intellectual Property Big Data Southeast Regional Headquarters and Edition Shentong have been signed. At present, 54 legal and pan-legal institutions have settled in Siming Demonstration Zone.

　　With more enterprises settling in, the service guarantee force of the demonstration area is also constantly strengthening. Siming Court and Belt and Road Initiative International Commercial Mediation Center have established the first professional intellectual property mediation institution "Intellectual Property Mediation Office of Haisi Central Legal District", which has accepted 220 cases. Siming Court’s "Commercial Lecture Hall" brand project has been introduced into Siming Demonstration Zone to explore the construction of a legal risk prevention and control exchange mechanism between enterprises, so as to better improve the legal risk prevention and control capabilities of small and medium-sized enterprises.

　　Siming District fully supports Xiamen’s efforts to create the second batch of national business environment innovation pilot cities, focusing on leading industries, exploring and implementing a number of ground-breaking and leading reform measures, and building a pilot demonstration zone for innovation pilot cities.

　　Key word [quality]

　　Optimize urban functions and enhance public service security

　　Quality education is an important indicator and a strong supporting condition for an excellent business environment. In Xiamen, "Siming Education" is undoubtedly a household name.

　　In the golden autumn of September, the "good school" at the doorstep of Siming District was reopened. The Lingdou Campus of Datong Primary School welcomed the first batch of 220 first-grade students. On the first day of school, the school held a highly ceremonial "drop into the heart of the sea" activity. The freshmen held blue liquid and poured it into the "concentric sea" one by one, reflecting the school’s school philosophy of "establishing the path of’Datong ‘with the heart of forging ahead". Huang Yingmin, head of the student development center of the Lingdou Campus of Datong Primary School, has high hopes for the children: "At this moment, you are like a boat going to sea, raising a new sail and starting a new journey."

　　In addition to the Lingdou Campus of Datong Primary School, the Hexiang Branch of the Primary School Affiliated to Xiamen Foreign Language School has also made a new appearance, and they all operate in the form of an "educational community". The opening of these new schools will help the high-quality development of regional education. It is reported that this year, Siming District has also newly renovated and expanded the second phase of Binhai Primary School. The Lingdou Campus of Datong Primary School, the Hexiang Branch of the Primary School Affiliated to Xiamen Foreign Language School and the second phase of Binhai Primary School have added a total of 3,510 compulsory education degrees.

　　As one of the first batch of "strong education areas" in Fujian Province, education has always been placed in the strategic position of priority development of Siming District. In April 2022, Siming District was confirmed as the first area to create a high-quality and balanced national compulsory education. During the "14th Five-Year Plan" period, the whole district will also strive to renovate and expand no less than 30 compulsory education construction projects, add 30,000 compulsory education degrees, and make every effort to promote the high-quality and balanced regional compulsory education. At the same time, from the continuous expansion of school-based close education communities, and the promotion of education and teaching reform, it will help regional education to start at a high level and develop with high quality, and enhance Siming Education’s ability to serve the city’s economic and social development.

　　All along, Siming District has been continuously optimizing the level of education development, improving the quality of urban education, solving the children’s education issues that investors, entrepreneurs and all kinds of talents are most concerned about, and making every effort to create a suitable and livable working and living environment. Based on the endowment advantages of the central urban area, Siming District also focuses on the fields of medical and health care, entertainment, ecological environment, urban management, etc., and continues to work hard to improve the soft environment, create a characteristic humanistic environment, optimize the functional quality of the urban area, and make investors, entrepreneurs and all kinds of talents live in Siming more happy and belong.