"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.

Zong Qinghou’s legendary business life ended.

On February 25, Wahaha released an obituary saying that Zong Qinghou, founder and chairperson of Wahaha Group, died at 10:30 on February 25, 2024 at the age of 79 due to ineffective medical treatment.

After hearing the news, many Hangzhou citizens spontaneously came to No. 160 Qingtai Street, the former headquarters of Wahaha, to lay flowers for the legendary entrepreneur. Among the many bouquets, someone brought him his favorite Wahaha products.

"There will be 1,000 Hamlets in the eyes of 1,000 people, and there will be 1,000 Wahaha in the eyes of 1,000 people," Zong Qinghou described the importance of Wahaha to him. "But for me, there is only one Wahaha. It is all the dreams of my whole life, all the meanings, values, labels and symbols, and it is the proof that I have existed in this world."

This gray six-story building has almost carried Zong Qinghou’s life. Since the "School-run Enterprise Distribution Department of Shangcheng District, Hangzhou" sign was hung up in 1987, Zong Qinghou has come to work here almost every day for the rest of his life without business trips. It is also an important meeting place for him. Media visits often find that Zong Qinghou has worked for more than an hour and slept in the office the night before.

This is the starting point of everything in Zong Qinghou, and it is also the beginning of the story of Wahaha.

At the age of 42, he started a business and created a beverage empire

Zong Qinghou first entered this small building in 1987.

In April 1987, 42-year-old Zong Qinghou with a courage, with 140,000 cash, contracted the uptown school-run enterprise distribution department, by dropshipping soda, popsicles and stationery paper earned a penny.

Many years later, Zong Qinghou recalled the scene at that time, because he did not dare to spend the only 140,000 yuan, the distribution department simply painted the walls, bought a few office desks and chairs, and opened.

This year was a turning point in Zong Qinghou’s life. In July 1987, Zong Qinghou used the sales payment of "China Pollen Oral Liquid" and a bank loan of 50,000 yuan as the original funds to establish Hangzhou Baoling Children’s Nutrition Food Factory, which processed "China Pollen Oral Liquid" for Hangzhou Baoling Company, and started Wahaha’s entrepreneurial process. At the end of November of the same year, the filling workshop with a daily output of 10,000 boxes was completed at No. 160 Qingtai Street, Shangcheng District. That year, the total sales volume was 4.36 million yuan, and the profit was 222,000 yuan. In 1990, Wahaha’s sales revenue exceeded the billion yuan mark, and the profit exceeded 20 million yuan.

Mr. Zong always described his success as "catching up with a good era."

In 1978, the Third Plenary Session of the Eleventh Central Committee was held, which opened the curtain on China’s reform and opening up. The surging tide came, and in the agitation brought countless opportunities to the times. At that time, Zong Qinghou was 33 years old. After more than 10 years of "manual work", he succeeded his mother to get a job in a school-run factory in Hangzhou.

Soon, the surging tide brought a big wave, rushing Zong Qinghou to the forefront of the times. In 1986, the state issued relevant regulations, proposing to "implement a variety of forms of management contract responsibility system to give operators full operating autonomy." The wave of reform and opening up was booming, and Zong Qinghou became the first to eat crabs.

In 1991, the small building at No. 160 Qingtai Street in Shangcheng District had a new name – Hangzhou Wahaha group company. Under the matchmaking of the Hangzhou Municipal Government, Zong Qinghou paid more than 80 million yuan to merge the old state-run factory with a factory area of 60,000 square meters and more than 2,000 employees – Hangzhou Canned Food Factory, creating a miracle of "small fish eat big fish". Three months after the company was established, the original loss of more than 40 million yuan of Hangzhou can factory turned into a profit, sales revenue, profits and taxes more than doubled, the second year sales reached 400 million yuan, net profit of more than 70 million yuan.

In that exciting era, everything was new. In 1994, Zong Qinghou proposed the "joint sales system" at the dealer conference, requiring first-level dealers to pay a "security deposit" in advance. After the payment is settled every month, Wahaha will continue to ship. After the sale, Wahaha returns the "security deposit" and gives dealers rebates. He also formulated a strict price difference system. Each first-level dealer must strictly implement the corresponding sales price, so that "everyone makes money".

Wahaha’s development trajectory has also become a microcosm of the big era.

In 2003, Wahaha’s revenue exceeded 10 billion yuan, making it the fifth largest beverage producer in the world. In 2012, Wahaha entered the revenue 50 billion club and reached its peak in 2013. According to public data, in 2013, Wahaha’s revenue was 78.20 billion yuan. In 2014, Zong Qinghou set a goal of 100 billion yuan. With the rapid development of Wahaha, Zong Qinghou became the richest man in China three times during 2010-2013.

Over the past 30 years, Wahaha has grown into a huge beverage empire. According to Wahaha’s official website, the cumulative sales in 35 years are 860.10 billion yuan, profits and taxes are 174 billion yuan, and taxes are 74.20 billion yuan. Wahaha has 81 production bases and 187 subsidiaries in 29 provinces, municipalities and autonomous regions across the country.

The products cover more than 200 varieties of packaged drinking water, protein beverages, carbonated beverages, tea beverages, fruit and vegetable juice beverages, coffee beverages, plant beverages, special-purpose beverages, canned food, dairy products, medical and health foods, among which purified water, AD calcium milk, nutrition fast line, eight treasure porridge are well-known national products.

"I’m not a capitalist, I’m an entrepreneur."

There are many entrepreneurs who have risen to the forefront and become trendsetters of the times, and Zong Qinghou is particularly different.

The financial writer Wu ****** once described meeting Zong Qinghou in the 1990s in "The Shanjia Man of Hangzhou": He had the face of a typical Hangzhou man, square, gentle and lacking in features. He spoke a little shyly, and when he liked someone, his only expression was to keep passing you cigarettes.

As a representative of Zhejiang businesspeople, Zong Qinghou was low-key and gentle. Even Wahaha seems to have inherited this trait from him.

In an interview with The Paper, Yang Yiqing, director of the Zhejiang Merchants Museum, believes that Wahaha’s corporate management model is very unique and can be summarized as "four nos" – that is, no loans, no listing, no vice president, and no real estate.

"He didn’t touch all the popular industries in various periods, including real estate, financial investment, and the Internet. The valuable thing is that Zong Qinghou has always adhered to his main business, and he is very confident. There is no unified model for enterprise management, and there is no standard answer. Only those that suit him are the best," Yang Yiqing said in an interview with the media.

On CCTV Finance’s "Dialogue" program, when asked why he did not choose to sell expensive products, Zong Qinghou, who is already in his 70s, answered 11 words: "I am not a capitalist, I am an entrepreneur." Referring to the reason why he did not choose to go public for so many years, he said that Wahaha is not short of money at present, and if there are projects that require large capital investment in the future, he will also consider going public. But if it goes public, it is necessary to be responsible to shareholders. It is not good for shareholders to raise money without increasing the efficiency of the enterprise.

In Zong Qinghou’s view, the real economy is the foundation of a country’s economy and the lifeblood of our country’s economy. The virtual economy is produced in the real economy and should also serve the real economy. Entrepreneurs should sink their hearts into doing business and lead the transformation and upgrading of the real economy with innovation.

Therefore, Zong Qinghou also had a famous economic dispute with Ma Yun.

In 2016, when discussing "the deep reasons why China’s manufacturing industry is facing a cold winter in 2016" and "how to revive the real economy" on the "Dialogue" program, Zong Qinghou was asked what he thought of the five major changes proposed by Ma Yun: "new retail, new manufacturing, new finance, new technology and new resources".

At that time, Zong Qinghou’s answer was: "Except for new technology, everything else is nonsense. [Ma Yun] himself is not [engaged in] the real economy, [can] make something." New technology is what the real economy should pursue, and can help the manufacturing industry from the low end to the high end.

Afterwards, when Ma Yun attended a political and business event in Nanjing, he also talked about the debate between the real economy and the virtual economy. He believes that the real economy and the virtual economy are not antagonistic relationships. Entrepreneurs must not live in yesterday and complain about tomorrow. "It is not technology that makes you eliminated, it is backward thinking that makes you eliminated, it is unwillingness to learn and self-righteousness that makes you eliminated… It is not that China’s real economy is not working, but your real economy is not working." This is considered Ma Yun’s response to Zong Qinghou’s criticism.

A month later, Zong Qinghou and Ma Yun publicly shook hands for a group photo, thus ending the "virtual and real economic dispute".

Just as Zong Qinghou chose to do the real economy, Zong Qinghou always has a sense of "down-to-earth" constancy. Since starting his business in 1987, Zong Qinghou has maintained a consistently diligent schedule for more than 30 years: working nearly 16 hours a day, going to work at 7 am, and leaving work at 11 pm.

Zong Qinghou’s early experience of working hard from the bottom also made him very thrifty. He is known for his deeds: personal consumption of 50,000 yuan per year, choosing economy class by plane, choosing a second-class seat by high-speed rail, and often not bringing secretaries and assistants on domestic business trips. Because he wears cloth shoes all year round, Zong Qinghou is also known as "the richest man in cloth shoes".

"If my’destiny ‘is to smooth the cracks and scars between the poor and the rich, if it is to present a kind of values and possibilities that enable young entrepreneurs to find their way and see even a glimmer of light, I will definitely feel that this is valuable and worth paying for without hesitation," Zong Qinghou said.

Looking for a new direction

However, in recent years, people have noticed that Zong Qinghou has undergone some changes.

Zong Qinghou, who had always claimed that he would not retire, began to take a back seat. Zong Qinghou, who had always said that he would "never go public", relented. Zong Qinghou, who had always refused E-commerce LIVE, not only started Douyin live broadcast, but also opened several e-commerce platforms at once.

At the same time as these changes, Wahaha "stagnated". In 2013, Wahaha’s revenue peaked at 78.30 billion yuan. However, just as Zong Qinghou announced in 2014 that he would hit the 100 billion target, Wahaha’s revenue plummeted to 49.40 billion yuan in 2015. Since then, Wahaha’s revenue has been hovering below 50 billion yuan, and it will not be until 2021 that Wahaha returns to the 50 billion yuan club.

In the process, Wahaha, a leader in the industry, gradually lost its advantage. In 2001, Nongfu Spring surpassed Wahaha in the market share of bottled water, and has been in the industry for many years since then. At other tracks, brands such as Wanglaoji, Jiaduobao, Master Kong, and Yili are eyeing each other, while new brands such as Yuan Qi Sen Lin have emerged with concepts such as "0 calories" and "0 sugar". Wahaha’s voice was drowned out.

Today, when it comes to Wahaha, the public’s impression is still mostly in Nutrition Express and AD calcium milk. Many people think that its products lack innovation and are not young enough. At the same time, Nongfu Spring has broken through the beverage circle with the Oriental Leaf series of tea drinks, gradually gaining the upper hand in the competition with Wahaha.

In the age of the internet economy, Zong Qinghou, who is in his infancy, seems to be getting farther and farther away from his consumers. Wahaha needs to change, and Zong Qinghou has to seek change and find a new way out.

For Wahaha, the addition of Zong Fuli is a kind of thing, and the establishment of an e-commerce platform is naturally the same.

In 2018, Zong Fuli took the initiative to join Wahaha Group as the head of the brand public relations department, in order to make Wahaha younger. Under Zong Fuli’s younger strategy, Wahaha replaced Wang Leehom, the spokesperson for more than 20 years, with a younger Xu Guanghan; Nutrition Express launched a limited colorful version and launched a limited makeup. Under Zong Fuli’s leadership, Wahaha began to cross the border and appear in more young people’s favorite circles. In recent years, Wahaha has launched AD calcium milk-flavored milk heart moon cakes, launched a joint juvenile ice cream with Zhong Xuegao, and launched a joint pH 9.0 soda with POP MART. It has also entered the e-sports circle and cooperated with League of Legends Professional League (LPL) officials and teams.

In order to keep up with the pace of the times, both Zong Qinghou and Zong Fuli have made many attempts, but the effect is not obvious. According to media statistics, in the past two or three years, Wahaha has launched more than 300 new products, but basically they cannot escape the fate of going offline at the speed of light. In recent years, Wahaha has been jokingly called the fastest company in the industry for "making babies" because of the fast speed of introducing new products. But the new big single product has not yet appeared.

Who will take over? Hangzhou state-owned assets once sought to withdraw

Zong Qinghou always had one wish – to turn Wahaha into a century-old store.

However, seeing his age getting older, Zong Qinghou began to think about the issue of succession. In 2023, on the CCTV financial "Dialogue" program, Zong Qinghou once again talked about the issue of succession: "You always have to train young people and successors. After I leave, he can continue to let Wahaha develop healthily and become a century-old store." Because it is impossible for me to keep it a century-old store. "

At the end of 2021, Zong Fuli became the vice chairperson and general manager of Wahaha Group, responsible for daily work, and Zong Qinghou remains the chairperson of the group. For Zong Qinghou, he is still waiting for a more mature opportunity.

On the show, Mr. Zong revealed that he was already gradually preparing for the shift. "Why do I have to revamp the process, the post responsibility system, and modify and improve the rules and regulations?" he said. "It is to let every employee know what he should do, to what extent, what he cannot do, what responsibilities he should take, and what compensation he can get."

In the eyes of the outside world, it is a foregone conclusion that Zong Fuli will inherit the Wahaha business empire left by Zong Qing.

On February 23, Hangzhou Wahaha E-commerce Co., Ltd. underwent an industrial and commercial change, and Zong Fuli succeeded Zong Qinghou as the company’s legal representative, executive director, and manager. Earlier, in 2021 and 2022, Zong Fuli began to serve as directors of related companies in succession. After entering 2023, Zong Fuli served as directors of related companies under 14 Wahaha Group.

From the perspective of shareholding structure, Zong Qinghou is the founder and chairperson of Wahaha Group, but he is not the largest shareholder of Wahaha.

According to Tianyancha, Hangzhou Shangcheng District Wenshang Travel Investment Holding Group Co., Ltd. holds 46% of Wahaha Group’s shares, making it the largest shareholder of Wahaha Group. Behind it is the State-owned Assets Supervision and Administration Commission of Hangzhou Shangcheng District. Zong Qinghou himself holds 29.4% of the shares, and the remaining 24.6% of the shares are held by the Wahaha employee shareholding platform. As Zong Qinghou’s only daughter, Zong Fuli has the opportunity to inherit the 29.4% stake held by her father. But she is still not the largest shareholder of Wahaha, and the matter of taking power requires the cooperation of the Wahaha employee shareholding platform.

In fact, as early as May 2006, Zong Qinghou said that it was not difficult to negotiate with the Hangzhou State-owned Assets Administration about the exit of his 46% stake in Wahaha Group. However, due to the "Dawa dispute", the talks between the two sides were forced to be suspended.

In 2023, there is a signal that Hangzhou state-owned assets intend to withdraw again. According to the bidding information inquiry platform Xunbiaobao information, in July 2023, Hangzhou Shangcheng State-owned Investment Holding Group invited tenders for the equity value evaluation and legal services of the 46% equity held by Hangzhou Wahaha Group. Among them, Wanbang Asset Appraisal won the bidding for the equity value evaluation service, while Guohao Law Firm won the bidding for the legal services of equity disposal. It is not yet known whether Wahaha Group is still negotiating this part of the equity. If this part of the equity is taken over by an external institution, Zong Fuli will take over, or it will face greater challenges.

Will Wahaha, which is "not short of money", go public?

When the owner of Wahaha Group changed from Zong Qinghou to Zong Fuli, whether Wahaha would go public became another outstanding issue.

Compared to her father, who went to the United States to study in junior high school until she graduated from college, Zong Fuli has her own way of dealing with the world – directly and insisting on herself. In company management, she attaches more importance to systems and rules and does not exclude listing.

In May 2017, China Candy, a former Hong Kong-listed company, announced that New Baili Financing would make a voluntary conditional cash offer for and on behalf of the offeror Ever Maple Flavors and Fragrances Holdings Limited (Hengfeng Holdings) to acquire all the shares in the entire issued share capital of China Candy. The only ultimate beneficial owner of the offeror, Hengfeng Holdings, is Zong Fuli. This move was also interpreted by the outside world as Zong Fuli’s attempt to go public. This also triggered speculation about the listing of Wahaha Group. Wahaha Group denied this and said that the acquisition was Zong Fuli’s personal behavior and had nothing to do with the company.

However, the offer ultimately lapsed. On July 14, 2017, Zong Fuli posted a statement on her Weibo about the "lapse of the cash offer with China Confectionery Holdings Co., Ltd." The statement said that for the company, this was a positive and constructive exploration, which provided valuable experience for the company’s future layout in related fields.

On different occasions, Zong Fuli talked about the issue of listing with an open attitude. In 2019, Zong Fuli, who is the chairperson of Hongsheng Beverage Group and the head of Wahaha Group’s brand public relations department, once again responded to her views on listing when participating in the People’s Daily Online "Ask" program. "If you are not a listed company, people will have doubts about your investment. Although we are also a big brand company, others will think that a listed company is a company with a clear and standardized process, and will be more at ease to negotiate with you. Because we have never encountered a process of capital integration. In the current market and industry environment, any large-scale development of an enterprise is operated through capital means."

Zong Fuli believes that in the future, only by combining with capital markets will it go further, which is what every company has to do. "I also want to see what capital means can bring us."

In recent years, with Zong Qinghou’s relaxation, Wahaha Group’s listing has attracted more attention, but each time Wahaha Group has denied the listing rumors.

In fact, in the current shareholding structure, it is difficult for Wahaha Group to go public. According to public information, since Wahaha implemented the employee shareholding plan in 1999, the number of shareholding shareholders has exceeded 15,000. According to the relevant regulations of IPO, when the company to be listed applies for listing, the employee shareholding plan needs to be penetrated by shareholders, and the final number of shareholders after penetration shall not exceed 200. Under the background of Wahaha Group’s "family culture", it is conceivable that it is difficult to optimize the number of shareholding of 15,000 people to less than 200 people.

Wahaha is still 63 years away from becoming a century-old store, and its road is still long.

With the official launch of Geely Galaxy L7, Geely Galaxy’s exclusive retail system has also been updated.

On June 5, the "Opening Ceremony of Geely Galaxy 100 Stores" was held in Xi’an. On this day, 225 exclusive Geely Galaxy stores opened simultaneously in multiple cities, reaching users across the country at "Galaxy Speed".

It is expected that within this year, Geely Galaxy will achieve a channel scale of 650-700 exclusive stores.

According to reports, Geely Galaxy has adopted a new channel ecosystem of compound franchise authorization for its new retail system.

In terms of agency distribution system, Geely Galaxy fully empowers dealers in talent management, service standards, and digital operations, and jointly builds user centers (4S stores), experience centers (city exhibition halls), and display spaces (supermarket stores) with partners to create a more transparent car purchase environment and a more efficient and convenient car purchase experience for users. At the same time, Geely Galaxy will set up a number of brand centers (4S stores) in the CBD areas of first- and second-tier cities such as Hangzhou, Shanghai, Shenzhen, and Guangzhou.

At the same time as channel innovation, Geely Galaxy has created new service standards around users.

In terms of store management, Geely Galaxy has developed a unified and rigorous service management system, and has comprehensively improved service standards through regular training and assessment, service quality evaluation, and in-store counseling.

At the talent level, Geely Galaxy formulates expert development plans such as test drive experts, experience experts, and delivery experts, and provides corresponding professional services for users at different stages of car purchase in the store. At the same time, 100% full-staff advanced training is used in store talent training to form high-standard service quality from the source of talents, and eliminate the chaos of "unprofessional and poor attitude".

At the daily operation level, considering the pain points of high communication cost and asymmetric information in the traditional 4S model, Geely Galaxy specially created a "digital exhibition hall" to connect the full link of user car purchase by digital means, and realize the double improvement of service efficiency and user experience. Users can skip the annoying bargaining process and place orders directly through the online payment platform to visually track the status of the vehicle anytime, anywhere.

At present, the first model of Geely Galaxy series, Geely Galaxy L7, has been fully launched in major exclusive stores, achieving "delivery on the market".

In addition to the Geely Galaxy L7, this year’s Geely Galaxy series will also launch new models including the intelligent electric hybrid car L6 and the pure electric model E8, which will continue to bring high-value travel experiences to users.

The new Toyota Highlander will be available on May 31

Recently, it was learned that the new Highlander is expected to be officially launched on May 31. This upgrade focuses on interior materials, intelligent configuration, and sound insulation effects. These improvements are based on the feedback from users of the current model.

In terms of interior, the new Highlander will be equipped with brushed metal trim panels and perforated NAPA leather seats, adding "exclusive seat adjustment buttons" and "smart touch warm light reading lights" to enhance ride comfort and luxury. In terms of intelligence, the new car is equipped with a 12.3-inch all-LCD instrument panel, with three display modes synchronized with the driving mode. The remote control function of the mobile phone has also been enhanced, with the addition of remote start headlights and honks, as well as remote control of the door and tailgate, which improves the convenience of using the car.

In response to the sound insulation problem of the current model, the new Highlander has increased the density and thickness of sound insulation materials in key areas such as the dashboard, front floor, second floor, trunk floor and central passage, respectively, by 80% and 83%. It also promotes that it will bring an "ethereal and quiet" interior environment, reflecting the manufacturer’s emphasis on improving the driving experience.

On March 5, the Second Session of the 14th National People’s Congress was grandly opened in the Great Hall of the People in Beijing. In his second year in office, Chen Bairong, a deputy to the National People’s Congress and wine designer of the wine design department of the Shede Wine Industry Production Technology Center, brought 5 suggestions in the fields of new quality productivity, Baijiu internationalization, and regional development, actively responding to industry and social concerns. Among them, "Suggestions on Promoting the High-quality Development of Traditional Alcohol Industry with New Quality Productivity" and "Suggestions on Strengthening the Work of Intelligent Reform and Digital Transformation in the Food Manufacturing Industry" are closely related to the high-quality development of the food manufacturing industry.

Chen Borong, a deputy to the National People’s Congress and Shede Wine Industry

At present, the food manufacturing industry is in a critical period of development from traditional to modern, from artificial to intelligent, and from experience to science. These topics that Chen Berong focuses on not only reflect the industry’s in-depth thinking on moving towards high-quality development, but also reflect the determination and responsibility of the wine industry to promote the intelligent upgrade of the wine industry, develop new quality productivity, help China Baijiu go global, and promote social and economic development.

Focusing on cultivating new quality productivity and gathering new impetus for high-quality development

The 20th National Congress of the Communist Party of China has made important arrangements to accelerate the construction of a digital China, emphasizing the construction of a modern industrial system, the promotion of new industrialization, and the deep integration of the digital economy and the real economy.

As one of the basic industries of the national economy, the food manufacturing industry is constantly accelerating the process of digital intelligence. In particular, the Baijiu industry has vigorously carried out informatization and digital construction in the past ten years, and comprehensively improved the intelligence level of R & D, production, marketing, management and service. Among them, Baijiu leading enterprises have accumulated a lot of practical experience.

As a frontline worker in Baijiu’s scientific research, Chen Berong deeply understands the key role that "smart transformation and digital transformation" plays in the development of Baijiu’s industry. In order to improve the intelligent level of the industry and promote the full-link transformation and upgrading of enterprises, Chen Berong put forward the "Suggestions on Strengthening the Smart Transformation and Digital Transformation of the Food Manufacturing Industry" at the two sessions this year. When it is implemented, it is recommended to take the Baijiu industry first and choose parks with better basic conditions to carry out pilots, such as Sichuan Tuopai Green Ecological Food Industrial Park. She suggested building industry traceability standards, guiding enterprises to build traceability systems, improving industry service quality, and opening up industry data assets, ensuring intelligent manufacturing levels, improving industry production efficiency, and strengthening national policy guidance and talent training. She also suggested actively exploring and promoting the Chuanjiuyuan universe project to enhance the industry’s innovative layout.

At the same time, Chen Berong is concerned about the current imbalance in the level of digital intelligence promotion in the industry, and the high participation threshold for small and medium-sized enterprises and small and medium-sized wine merchants, which is a pain point related to the overall high-quality development of the industry. To this end, she put forward the "Suggestions on Promoting the High-quality Development of Traditional Alcohol Industry with New Quality Productivity". She suggested that we should increase the policies and financial support for the digital intelligence transformation of the alcohol industry and the circulation industry, support the establishment of public DataRocks in the wine industry, and strengthen cooperation between industry, academia and research, and cultivate professional talents. At the same time, we should formulate and improve relevant standards for the digital intelligence transformation of the alcohol industry to ensure the standardization and safety of

It is worth noting that a number of wine industry representatives put forward suggestions on the development of new quality productivity at the two sessions, which is undoubtedly a positive reflection and response to the higher level and more sustainable development of our country’s wine industry. It is foreseeable that with the joint efforts of the government, enterprises and all sectors of society, new technologies and new models will be more widely used in the wine industry, injecting new impetus into the sustainable prosperity and development of the industry.

Fosun and Yuyuan are deeply empowered and willing to forge new engines for the development of the wine industry

The development history of Baijiu is the history of innovation in winemaking technology. In the current wave of intelligence and digitalization, China’s wine industry focuses on technological innovation, technological research and development, and enhances its core competitiveness. Among them, famous wine enterprises play a leading role.

As a famous wine enterprise in China and one of the six golden flowers of Sichuan wine, Shede Wine Industry has taken "science and technology innovation drive" as one of the top strategies under the guidance of the science and technology innovation strategy of Fosun and Yuyuan. From hiring chief scientists, cultivating scientific research talents, building high-energy scientific research teams, to building the three major industry-university-research innovation platforms of "China Shede Aging Wine Research Institute", "China Ecological Brewing Industry Technology Research Institute" and "Sichuan Wine and Grain Industry Technology Research Institute", Shede Wine Industry has provided strong technical support for the development of science and technology innovation work.

In recent years, Shede Wine Industry has actively promoted the transformation and upgrading of digital intelligence. By continuously optimizing the production supporting facilities and equipment such as three-dimensional warehouses, new water purification workshops, wine storage equipment, and filling equipment, Shede Wine Industry has improved the level of factory intelligence and promoted the improvement of production and operation quality and efficiency. Not only that, Shede Wine Industry closely combines "ecological brewing" with the concept of green, low-carbon and environmental protection, and is committed to empowering the green development of enterprises with technological upgrades. For example, in 2022, the company invested in the biogas purification of biological natural gas in wastewater treatment stations. Since it was put into operation, it has reduced carbon dioxide emissions by more than 6,000 tons every year, effectively purified and utilized about 3 million cubic meters of natural gas, and saved about 6 million yuan in gas purchase costs. Due to its good results in carbon reduction and efficiency, the project was successfully selected into the "2023 Model Case of China’s Pollution Reduction and Carbon Reduction Synergy" by the Ministry of Ecology and Environment.

At the same time, Shede Wine Industry is also committed to applying digital means to create a deep consumer experience, not only pioneering "dynamic wine age" in the industry, but also realizing the visualization, dynamics and transparency of wine age through digital means. It also pioneered the innovation and implementation of the high-quality Baijiu full-link grading traceability system based on blockchain technology, realizing the traceability and closure of Shede Old Wine from raw grain, brewing, storage, packaging, circulation to consumption, etc., bringing users a high-quality consumption experience of true vintage and true old wine.

Thousands of sails are competing for the "new" line, and the tide is surging in the east like a rainbow. As a contemporary advanced productive force, the new quality productive force will continue to release strong momentum with the in-depth promotion of scientific and technological innovation. Represented by Shede Wine Industry, many leading enterprises have anchored technological research and development and are committed to promoting the technological progress and digital intelligence transformation and upgrading of the industry, and together contribute more to accelerating the cultivation and development of the new quality productive force.

promote

　　"Investor Network" Wen Xia Jing　

　　According to the latest operating data released by NIO (NYSE: NIO), the company delivered 20,060 vehicles from January to March this year, an increase of 423% year-on-year, and successfully achieved the goal of achieving 20,000 deliveries in Quarter 1 predicted by Li Bin, founder, chairperson and CEO of NIO. However, at the same time as the good news, NIO encountered the embarrassment of chip shortage: the NIO foundry Hefei Jianghuai Manufacturing Plant stopped production for 5 days, affecting the production of at least 500-1000 vehicles.

　　Li Bin admitted that due to the impact of the supply chain (chips and batteries), NIO’s monthly production capacity of 7,500 vehicles is also under pressure.

　　It is worth noting that NIO, one of China’s "three heroes of new energy vehicle manufacturing", is still in a state of heavy losses. NIO’s current situation is that, on the one hand, the production capacity is constrained by the shortage of chips, and the operating pressure is overwhelmed by the haze; on the other hand, the car manufacturing track is already crowded with Internet bosses who "show their muscles", and the competition drama can be imagined.　

　　NIO, whose share price once fell to the "delisting red line" of $1, has just "come back to life" from the brink of danger, but the pressure it faces has not eased. Under the dilemma of "internal and external troubles", how can Li Bin and NIO break through the dilemma of "profitability difficulty"?

　　Under the gamble, the gross profit margin turned positive, and the huge loss was still "leading" the new car-making forces　

　　NIO is the company with the highest monthly delivery volume of "new car forces". In February this year, its delivery volume was 5578 vehicles, which was 2.4 times that of Li Auto, which is also a new car force, and 2.5 times that of XPeng Motors. It ranked among the top ten luxury car sales and once surpassed luxury car companies such as Land Rover and Porsche.

　　However, before April 2020, NIO was on the verge of "dying" due to its high debt.

　　As we all know, the delivery volume of the automobile industry is equal to the sales volume. It stands to reason that as the company with the largest monthly sales volume, the profit should be the largest. But this is not the case. Although NIO leads China’s new energy vehicle industry by its own sales and is dubbed "China Tesla", the continuous loss and the reality of "selling one at a loss" once caused NIO’s share price to fall to the "delisting red line" of $1.

　　Just as Li Bin and his NIO were struggling, the Hefei Municipal Government and the 7 billion reached a gambling agreement with NIO.

　　The agreement stipulates that NIO will invest in the acquisition and establishment of NIO China, requiring NIO China to generate revenue of 14.80 billion yuan in 2020, 120 billion yuan in 2024, and list 6-8 new models, and achieve total revenue of 420 billion yuan from 2020 to 2025.

　　The money brought by this bet saved NIO in times of crisis, but this step-by-step implementation and batch arrival requirements and agreements also made Li Bin and his NIO dare not slack in the slightest.

　　From the financial report released by NIO, there are many bright spots in NIO’s financial report in 2020. NIO’s total revenue in 2020 reached 16.258 billion (RMB, the same below), an increase of 107.8% year-on-year; among them, the gross profit margin rose from -7.4% in Quarter 1 to 17.2% in the fourth quarter, and the annual gross profit margin for the whole year was 11.5%. This is the first time that NIO has turned positive after being listed for three years.

　　But even so, NIO’s full-year net loss in 2020 was as high as 5.304 billion, and the 11.295 billion of losses compared to 2019 was significantly narrowed, but it was still a reality that NIO was not profitable.

　　Compared with Li Auto, which is the three heroes of China’s new car manufacturing forces, Li Auto’s annual revenue in 2020 was 9.461 billion, an increase of 3231.33% year-on-year, and the loss was only 152 million; NIO’s revenue was 1.3 times the ideal, but the loss was 35 times!

　　Under the background of obtaining local government investment 7 billion, NIO has achieved a significant increase in revenue and a positive gross profit margin, which is a seemingly bright "answer sheet". In theory, NIO can increase profits as long as it increases delivery, thereby reducing losses and achieving profitability. However, judging from NIO’s current core shortage dilemma and further planning in 2021, the outlook for NIO to achieve profitability is not optimistic.

　　Is the high cost pushing the "power exchange model" 42.50 billion cash flow enough to burn?　

　　In early March, NIO announced that it currently has cash reserves 42.45 billion (including cash and cash equivalents, restricted currency cash, and short-term investments).

　　Even if the funds are abundant, the amount of money Li Bin plans to "burn" is not small, judging from the new layout for 2021 announced by Li Bin at the earnings conference.

　　Li Bin declared that in 2021, NIO plans to "improve the efficiency of the system", specifically, from research and development, sales, and the establishment of replacement stations and the improvement of the charging and replacement mode. Li Bin said that he plans to invest 5 billion research and development expenses in 2021, and build 20 new NIO centers and 120 NIO spaces; in addition, NIO still insists on the "replacement mode" different from Tesla’s charging mode, and plans to build more than 500 replacement stations and improve the charging mode in China in 2021, establishing 600 supercharging stations and 15,000 destination charging piles.

　　Industry commentator Zhang Shule believes that NIO’s power exchange model has a bright future. "Although the power exchange model is different from Tesla’s charging model, it has new opportunities."

　　Zhang Shule said that because the benefits of the power exchange model are obvious, its charging speed is fast, and it can form an efficient turnaround rate of car "charging", which is far more convenient than the use of charging piles for electric vehicles to occupy parking spaces. It is also more suitable for the promotion of the core areas where parking spaces are tight and electric vehicle charging demand is high. "At present, the state has also increased its support in the field of new energy vehicles, and electric vehicles have entered a rapid popularization stage in China, so the power exchange model has a strong application prospect."　

　　Although the outlook for the power swap model is promising, NIO’s path to profitability remains uncertain.

　　Zhang Xiang, a member of MIIT’s new industrialization capacity building "Changfeng" plan, a think tank for new energy and intelligent connected automobile industry experts, told Investor Network that NIO’s power exchange model is the core competitiveness of the future. Because it provides users with new experiences and choices.

　　"But the current power exchange is a loss, and it will still be in a state of loss in the next few years." Zhang Xiang believes that the main reason why NIO cannot make a profit is that the construction investment of the replacement station is too large, and the lack of NIO’s inventory makes the utilization rate of the replacement station not high enough to subsidize the investment profitably. Zhang Xiang said, "NIO can only sell cars if it wants to make a profit. By raising the price of vehicles, it can obtain high profits to make up for the loss."

　　NIO’s goals are lofty and its vision is perfect, but the reality is very skinny: on the one hand, it does not follow the popular route and adheres to the high-end market; on the other hand, in the face of a large number of losses, it also increases investment and insists on the development of the power replacement model.

　　This could be said to be a dilemma for NIO. Although NIO’s losses narrowed in 2020, the main reason was the reduction in R & D investment and the construction of power station stations in 2020. If NIO wanted to make money, it had to "sell cars" in large quantities, but the cars it sold were only for the high-end market.

　　Investor Network learned from NIO’s official website that the price of NIO’s models is more than 300,000 yuan. According to data from China Automotive Industry, NIO’s SUV ES8 surpassed BMW X5 for the first time in Shanghai in January 2021, becoming the first among medium and large SUV vehicles above 400,000. It can be said that as a car company, NIO can already rival traditional luxury car manufacturers such as "BBA (BMW, Mercedes-Benz and Audi) ".

　　However, this "burning money" dilemma of "selling while losing money" makes it all the more difficult for NIO to turn a profit.

　　Technology bosses get together to build cars NIO comparative advantage　

　　The next trend in the internet is cars.

　　According to the "New Energy Vehicle Industry Development Plan (2021-2035) " document, the sales of new energy vehicles will reach 20% of the total sales of new cars in 2025. According to the statistics of the China Association of Automobile Manufacturers in early January, the cumulative sales of our country’s automobile industry in 2020 were 2527.2 million, and the sales of new energy vehicles were 1.367 million.

　　If the total sales of new cars in 2025 is 25 million, it means that the sales of new energy vehicles will reach 5 million. From 1.30 million to 5 million This means that new energy vehicles will have great market demand, and the new trend of making money will naturally attract the pursuit of Internet bosses.

　　Recently, Lei Jun led Xiaomi into the new energy vehicle industry, intending to open up a new world in the automotive industry. Previously, large Internet companies such as Baidu and Apple have announced their entry in a high-profile manner.

　　Although NIO has seized the trend and become one of the three heroes of China’s new car manufacturing forces, it does not have a strong corporate background similar to Baidu and Xiaomi, and NIO is in the dilemma of lack of core and loss.

　　Even so, Li Bin still seemed full of confidence. He said at the "WISE 2020 King of the New Economy" conference that NIO is not just a car company, but also a car-oriented community, a community that shares joy and grows together.

　　Industry commentator Zhang Shule told Investor.com that although NIO has performed well in the field of domestic electric vehicles before, the main reason is the lack of strong competitors. However, with Baidu, Xiaomi and other Internet technology companies and various traditional car companies entering the new energy vehicles and even higher-dimensional smart cars, NIO’s future competitiveness will be greatly challenged.

　　Zhang Shule believes that there will be a bubble in Internet car building, that is, the current artificial intelligence technology and vehicle to everything vehicle part are still in the exploratory stage, and it is inevitable that there will be PPT car building (that is, conceptual car building). However, with the technical background of Internet Tech Giants, there is no big problem for companies like Baidu and Xiaomi, because Internet companies have scientific and technological concepts, such as Baidu is to install "brains" for electric vehicles, and Xiaomi is a hardware retail distributor, forming a combination model to create cost-effective electric vehicles.

　　Perhaps for NIO, finding a way to make a profit, get out of the loss dilemma, reach a gambling agreement, and avoid being acquired are the most practical problems it needs to solve urgently. (Produced by Thinking Finance) ■

　　

　　A few days ago, Aika Automobile was informed that the brand-new Yadi sedan that flowed out recently was officially named Qin PLUS. The design of the new car is in the same strain as that of Han, but it is younger and more refined. Qin PLUS is another masterpiece of BYD in the field of cars after Han Dynasty. According to informed sources, the new car will be officially unveiled at the 2020 Guangzhou Auto Show.

　　First of all, from the front face, BYD Qin PLUS incorporates brand-new design elements on the basis of the design language of "Dragon Face". The larger "Dragon Mouth" front grille and the newly designed "Dragon Armor" bring strong sensory impact. The waistline on the side of the car is full and full of tension, and the transition between the front face and the side wall is clear and clear, highlighting the "sculpture sense" of the car body design; The size of the multi-strip aluminum alloy rim is further increased and looks more sporty.

　　It can be seen from the tail that this brand-new car is very impactful in visual effect. The horizontal lines and downward curved curve design of the tail widen the overall visual effect. The straight through LED taillights are a highlight, and the overall shape is more slender. The light groups on both sides are as sharp as dragon claws, which is very recognizable. Slogan above the taillights adopts the latest font design, which is more design-oriented.

　　In terms of power, BYD Qin PLUS is expected to adopt the super hybrid technology just released, equipped with a 1.5L high-efficiency engine dedicated to Xiaoyun-Plug-in, which is specially built for DM-i super hybrid technology, with a thermal efficiency as high as 43%. Xiaoyun-Plug-in special 1.5L high-efficiency engine has an ultra-high compression ratio of 15.5, which increases the stroke-cylinder diameter ratio. Atkinson cycle is adopted, EGR exhaust gas recirculation system is equipped, and a series of friction reduction measures are supplemented, and the engine control system is optimized. In addition, this system can also bring excellent NVH performance.

At the 2024 Beijing Auto Show, Niuche. com learned from BYD officials that BYD’s new compact car, Qin L, will officially meet with consumers at the Beijing Auto Show on April 25, and the new car will be equipped with BYD’s fifth-generation DM hybrid system. It is understood that the price of the new car will be around 120,000 yuan.

In design, BYD Qin (parameter picture) L adopts the latest family design of "New Country Tide and Beauty Aesthetics", which is younger and more refined visually. The interior of the huge middle net adopts dot matrix design, and the grille on both sides stretches the width of the whole front face. At the same time, the headlights of the new car are very sharp and connected by light strips, which is visually very scientific and technological.

The side line of the new car runs from the headlights to the back door, and the B-pillar and C-pillar are designed in a hidden way, combined with the slip-back design, which makes the whole car younger. At the same time, the new car is equipped with multi-frame wheels, which is more visually sporty. In terms of vehicle size, the length, width and height of Qin L are 4830mm, 1900mm and 1495mm respectively, and the wheelbase is 2790mm. Compared with Qin PLUS currently on sale (length, width and height: 4765/1837/1495mm, wheelbase: 2718mm), Qin L is larger as a whole.

At the rear of the car, the new car adopts a penetrating taillight group, and the rear enclosure is also treated in a sporty style. It is worth mentioning that the tail of the new car is also equipped with a luminous "BYD" English logo. In terms of car body color matching, BYD Qin L will provide four car body colors: Bingpo Green, Jianyao Purple, Runyu White and Tea Crystal Grey.

In terms of interior, Qin L adopts the latest design concept of the family, which is visually simpler and more layered. The interior of the three-position multi-function steering wheel is decorated with brown elements, which looks good. The full LCD instrument panel is embedded in the central control panel, and the 15.6-inch central control large screen supports rotation. At the same time, it is equipped with DiLink intelligent network connection system, which supports functions such as customized navigation in Gaode, karaoke function, Himalayan music, cool me/cool dog music, BYD market, car WeChat/Tik Tok and so on.

It is worth mentioning that the new car does not completely cancel the physical buttons. The physical buttons such as start, driving mode, air conditioning control and volume adjustment are integrated around the new BYD Heart crystal ball head shift lever, which is convenient for users to operate quickly.

In terms of power, Qin L will be equipped with BYD’s fifth-generation DM-i hybrid technology, in which the maximum power of the 1.5L engine is 74kW and the maximum power of the motor is 160kW. The new car is equipped with lithium iron phosphate battery from Fudi, Zhengzhou. The battery provides 15.874kWh and 10.08kWh for consumers to choose, and the corresponding pure electric cruising range is 90km and 60km respectively. It is understood that the comprehensive battery life of the new car can reach 2000km.

　　[car home New Car Launches] At the 2024 Beijing Auto Show, the (|) seven-seat model made its debut. The body length of the new car reached 5034mm, and the wheelbase was still 2800 mm. The car adopted a seven-seat layout. In terms of power, the new car was equipped with a 2.0T engine with a maximum power of 187 kW.

　　As Chery’s version of "Land Rover Defender", Jetway Traveler’s extended 7-seat version adopts the idea of Land Rover Defender’s 130 version, and the car body size is extended by 249mm to 5034mm under the condition of unchanged wheelbase, so that the length, width and height of the whole car are 5034/2006/1880(1915)mm and the wheelbase is 2800mm respectively, and the 7-seat layout is adopted in the car, further broadening the user group of Jetway Traveler.

　　In appearance, the front face of the car is consistent with the five-seat version on sale. The net is inlaid with the brand logo of "JETOUR" and connected with the headlights. The distinctive headlight group style is impressive. The posture of the whole vehicle is vigorous, with sharp lines and full profile coexisting. The tail is also equipped with a classic "small schoolbag", while the vertical taillights are wrapped in a black frame, showing off-road temperament.

　　According to the application information, the car can choose special traction devices including towing hook hole, connecting ball head, electric connector, etc. The approach angle/departure angle is 28 degrees /17 degrees, and the maximum total traction mass is 1600kg. In terms of power, the new car is equipped with a 2.0T engine of model SQRF4J20, with a maximum power of 254 HP (187kW) and a declared fuel consumption of 9.83L/100km. (Compile/car home Duandi)

Nowadays, with the gradual increase of the market share of new energy products, major car companies have also accelerated the layout of this market. For example, Dongfeng Honda is about to launch a brand-new independent brand of new energy; Hyundai wants to join hands with BAIC Group to develop electric vehicles; Volkswagen cooperates with Xpeng Motors to develop pure electric vehicles.

It has to be admitted that joint venture brands have been involved in the "spring tide" of new energy. Volvo, as a luxury brand that laid out new energy routes earlier, also began to speed up on the road of full electrification. Recently, Volvo officially announced that it will stop production of diesel vehicles in early 2024. This means that it is a step closer to achieving full electrification. At the same time, Volvo will become the first mainstream traditional manufacturer to completely abandon diesel vehicles.

It should be noted that until 2019, diesel models will still be Volvo’s main market in Europe. With high reliability, low noise and low fuel consumption, Volvo’s diesel models are widely recognized in the European market. However, according to relevant data, with the rise of new energy vehicles, the market share of Volvo diesel models has also dropped from 50% in 2015 to 14.1% in July 2023.

Previously, Volvo Cars said that by 2030, the company plans to sell only all-electric vehicles; By 2040, the goal will be to become a carbon neutral company. Volvo’s decision to stop production of diesel vehicles has made people full of confidence in Volvo’s future new energy development.

In addition, Volvo sold its shares in the internal combustion engine development company as early as last year, saying that it would not invest any more money in new internal combustion engines. Moreover, Jim Rowan, CEO of Volvo, said: "Electric powertrain is our future, and the company is fully focused on building a series of superior and pure electric vehicles to meet all the expectations of customers for Volvo." It is not difficult to find that Volvo’s determination to transform into electricity is great.

Not only that, Volvo will launch two pure electric SUVs in the next few months, namely Volvo EX90 and EX30, to meet consumers’ demand for Volvo’s new energy products. At the same time, Volvo also announced in August that Volvo EM90, Volvo’s first pure electric luxury MPV, will be launched in the world on November 12th this year, and the reservation in Chinese mainland will be started simultaneously.

Known as "the safest and most secure pure electric SUV ever", Volvo EX90 appeared in the domestic market as early as April this year, and the new car will be listed in China market in 2024. It is reported that the Volvo EX90 is based on the Volvo SPA2 platform and has a good performance in terms of performance.

Another luxury pure electric small SUV, Volvo EX30, also made its world debut as early as June this year. The car is priced at 34,950 US dollars (about 249,000 yuan) in the US market and 36,000 euros (about 274,000 yuan) in the European market. In the China market, the pricing of Volvo EX30 may be more "people-friendly". Volvo EX30 is built on the vast architecture platform of Geely SEA, and smar Elf #1 is also from this platform.

As Volvo’s first pure electric luxury MPV, Volvo EM90 is built on the vast architecture platform of Geely SEA. It is expected to be driven by dual-motor four-wheel drive, and is expected to be equipped with ternary lithium batteries and the latest Kirin batteries. The pure electric cruising range is expected to be around 800km.

In the eyes of Volvo CEO Luo Wenjin, electric power systems are superior to internal combustion engines. They produce less noise, less vibration, lower maintenance costs for customers and zero exhaust emissions. Therefore, whether from the point of view of consumers’ later consumption or Volvo’s goal of coping with climate change, electric vehicles are the best choice.

In the era of fuel vehicles, Volvo is the leader of automobile safety. In the new energy era, Volvo will sublimate safety into new energy vehicles and become the "leader" of new energy vehicle safety. You know, as early as April this year, Volvo released the World Tree Intelligent Security System, which combines the trend of electrification and intelligence to realize the inheritance and evolution of security.

Write it at the end

The debut of Volvo EX90 and Volvo EX30 indicates that Volvo has begun to accelerate on the new energy track. The suspension of diesel models is Volvo’s determination to fully electrify the outside world. Next, Volvo EM90 will be unveiled soon, which further enriches Volvo’s new energy product matrix.

(This article was originally produced by Wenwu Lane New Media Studio, please indicate the source: Wenwu Lane, author: Xia Mu)