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?

On August 28, China Evergrande announced on the Hong Kong Stock Exchange that Evergrande’s agreement arrangement meeting will be postponed for 29 days to September 26. Before that, China Evergrande said that the agreement arrangement meeting scheduled for August 23 will be postponed to August 28.

On the same day, China Evergrande resumed trading on the Hong Kong Stock Exchange, and the intraday share price fell by more than 90%. As of the close, China Evergrande’s share price was HK $0.34, falling below HK $1 and becoming a penny stock.

Image Source: Oriental Fortune

Agreement to postpone the meeting

According to China Evergrande’s announcement, the company has decided to extend the period for Evergrande Agreement Arrangement creditors to consider, understand and evaluate the terms of Evergrande Agreement Arrangement, and to give Evergrande Agreement Arrangement creditors more time to consider the recent development of the Group. Therefore, the Evergrande Agreement Arrangement Meeting will be postponed for 29 days to September 26. In order to keep the schedules of Evergrande Agreement Arrangement, Jingcheng Agreement Arrangement and Space-based Agreement Arrangement as consistent as possible, the Jingcheng Agreement Arrangement Meeting and the Space-based Agreement Arrangement Meeting will be postponed for 28 days to September 25.

The Hong Kong Evergrande Class A Agreement Arrangement Meeting will be postponed to September 26, 2023 at 8:00 pm (Hong Kong time) (i.e. 7:00 am Cayman Islands time). The Hong Kong Evergrande Class C Agreement Arrangement Meeting will be postponed to September 26, 2023 at 9:30 pm (Hong Kong time) (i.e. 8:30 am Cayman Islands time) (if later than the aforementioned time, after the conclusion of the Cayman Islands Evergrande Class A Agreement Arrangement Meeting).

The Cayman Islands Evergrande Class A Agreement Arrangement Meeting will be postponed until 8:45 pm (Hong Kong time) on September 26, 2023 (i.e. 7:45 am Cayman Islands time) (if later than the aforementioned time, after the conclusion of the Hong Kong Evergrande Class A Agreement Arrangement Meeting). The Cayman Islands Evergrande Class C Agreement Arrangement Meeting will be postponed until 10:15 pm (Hong Kong time) on September 26, 2023 (i.e. 9:15 am Cayman Islands time) (if later than the aforementioned time, after the conclusion of the Hong Kong Evergrande Class C Agreement Arrangement Meeting).

The meeting will be postponed until 9:00 am (British Virgin Islands time) on September 25, 2023 (i.e. 9:00 pm Hong Kong time).

The Space-based Agreement Arrangement Meeting will be postponed to 8:00 pm (Hong Kong time) on September 25, 2023.

Evergrande Group believes that, despite the postponement of the Agreement Arrangement Meeting, the timetable for the proposed restructuring is still in line with the Agreement Arrangement creditors’ expectations for the implementation of the proposed restructuring, given that the current deadline is December 15, 2023.

Shares resume trading on the Hong Kong Stock Exchange

On August 28, China Hengda resumed trading on the Hong Kong Stock Exchange, the intraday share price fell by more than 90%, and the market value evaporated by nearly 20 billion Hong Kong dollars.

Wind data show that China Hengda shares closed at HK $1.65/share before the resumption of trading, with a market value of HK $21.80 billion.

On the evening of August 25, China Evergrande announced that it will resume trading on August 28. So far, all three listed companies in the Hengda department have completed the resumption of trading.

On August 27, China Evergrande released its 2023 semi-annual report. Revenue in the first half of 2023 was 128.20 billion yuan, an increase of 44% year-on-year, and the total net loss was 39.25 billion yuan.

Data show that Evergrande’s total liabilities decreased slightly to 2.3882 trillion yuan from the end of last year, excluding the advance payment of the debt is 1.7842 trillion yuan. Among them, interest-bearing loans 624.80 billion yuan, engineering materials and other payables 1.0566 trillion yuan, other liabilities 102.90 billion yuan. As of June 30, China Evergrande’s land reserves reached 190 million square meters, and there were 78 old renovation projects (34 in Shenzhen).

It is worth noting that according to the 2022 annual report released by China Evergrande recently, China Evergrande’s revenue in 2022 was 2300.7 billion yuan, the total net loss was 125.81 billion yuan, and the cumulative sales refund for the year was 35.79 billion yuan. The total liabilities in the 2022 statement were 2.43741 trillion yuan. In terms of land reserve, as of the end of 2022, China Evergrande had a land reserve of 210 million square meters.

According to China Evergrande, since its operating difficulties began in September 2021, Evergrande has promoted the full resumption of work on nearly 700 projects and the maintenance of buildings.

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Original title: "More than 90% down! Evergrande sudden announcement"

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　　Driven by the growing trend of mobile phone screens, it seems that all electronic products are racing towards the road of "big and thin". Therefore, after 5-inch brilliance, portable navigation turned to 7-inch in 2012 without hesitation. Under the leadership of the first-line brand Ren Waiyou, GPS manufacturers have continuously launched 7-inch large screens to seize the market, and Chinese consumers who are used to buying big things are also happy to enjoy the great happiness brought by large screens. Today, I will recommend several first-line brands’ 7-inch boutique navigation for you to see if there is any "dish" for you?

　　Let Me Travel N710

　　Operating system: WinCE6.0

　　Memory: 128M

　　Positioning accuracy: 10m

　　Screen: 7 inch high definition touch screen, resolution: 800 * 480

　　Map: New map of 4D map

　　N710 screen has 480 * 800 high definition resolution, clear and comfortable screen brightness with 7-inch screen presents clear traffic information and navigation information, while the 7-inch screen also makes the N710 UI interface more outstanding, whether it is the boot interface or 3D real scene, service area Kanban, dynamic lane display and other functions have been perfectly presented to the greatest extent, especially after the enhanced version of the software, its various path planning functions, more comprehensive high-speed distance, ordinary road distance, traffic lights number, total driving distance, estimated driving time and other navigation indicators, for the owner to plan a shorter distance, high-speed priority, ordinary priority and recommended routes and other driving routes, forming a high-value driving recommendation scheme.

　　In terms of query and navigation functions, the N710 brings a leisurely experience to car owners. The "seckill" query function ensures that the N710 has unlimited search in unlimited areas and categories across the country. Whether it is WEB query, vague query, point of interest query or house number query, the 7-inch wide screen can fully display the query information, and then present a more concise and intuitive perfect navigation route, making driving more leisurely.

　　In addition to inheriting the powerful functions of the N series, the Renwoyou N710 also has excellent expansion functions. By reserving the AV-IN interface in the product design, the integration of navigation with electronic dogs, driving recorders, reversing rear view and other devices is realized, which fully meets the various needs of car owners during driving and provides them with a safer driving life.

　　Editor’s comment:As a leading brand of domestic navigation, each product is firmly established in the navigation market with its high-level and demanding style. This is the case with the N710 recommended for everyone. While the navigation function meets the needs of consumers, the enhanced software and expanded functions help users effectively cope with new traffic regulations and avoid severe penalties.

　　Freelander D70

　　Operating system: WinCE6.0

　　Memory: 128M

　　Positioning accuracy: 10m

　　Screen: 7 inch high definition touch screen, resolution: 800 * 480

　　Map version: Daodaotong map

　　The D70 Freelander uses the Daodaotong 3D navigation system, and the navigation map data covers the whole country, of which the number of POIs reaches 24 million, the road network reaches 3.24 million kilometers, has 350,000 electronic eyes, and 2,000 upgraded service points.

　　Due to the use of 3D navigation system, Freelander supports 3D real-life navigation. Its 360,000 3D intersection enlarged map can cover all cities in the country, providing the best 3D stereo vision. Don’t worry about complex intersections. At the same time, it provides dual-screen interface display, which has fuzzy search, point of interest search and other methods in query, and supports handwritten input. Built-in 4G, supports TET card expansion

　　In addition to professional navigation functions, the Freelander D70 also offers a wide range of entertainment features, including MP4/AVI and other video formats. It also supports FM transmission, allowing car owners to play the car audio through the car radio with the car stereo. A variety of puzzle games are also installed in the machine.

　　Editor’s comment:Freelander D70 has a 7-inch high definition large screen display effect is good, while 500,000 fixed electronic eye data can ensure the safety of road warning, in the map upgrade, Freelander provides consumers with a lifetime free upgrade map and hardware three years quality assurance and other after-sales services.

　　DECZhongheng M7TV

　　Operating system: WinCE6.0

　　Positioning accuracy: 10m

　　Memory: 128M

　　Screen: 7-inch ultra-high definition touch screen, resolution 800 * 480

　　Map: Kailid 3D Real Map

　　DEC Zhongheng M7TV has excellent appearance and workmanship, and adopts the function of international first-class IML piano paint, while the 7-inch VGA ultra-high definition LCD touch screen has a resolution of 800 * 480 pixels, and implants 100Hz/120Hz double speed technology to completely bid farewell to the picture trailing phenomenon.

　　In terms of navigation, DEC Zhongheng M7TV adopts professional navigation maps, with detailed map information for large, medium and small cities. It supports real-life voice navigation and automatic smooth switching. The navigation information includes intersection turning prompts and point-to-point itinerary scheduling. Adopting the latest generation of SIRF star search navigation module in the United States, it can provide fast and accurate positioning, fast response, hot and cold start. At the same time, it has a built-in high-sensitivity GPS receiver group and antenna to accept satellite signals and locate faster and more accurately. Support personalized function settings, such as "multi-country voice settings, backlight adjustment, power management, coordinate adjustment, etc.".

　　Editor’s comment:The overall quality of DEC Zhongheng M7TV is good, whether it is navigation function, map information, etc., it is very powerful and complete. At the same time, DEC Zhongheng M7TV also tailor-made FM FM transmission function for the car, which can quickly and easily realize the connection between the digital player and the car stereo. And supports Bluetooth function and wireless reversing rear view

　　HUAFENG e LH700

　　Operating system: WinCE6.0

　　Memory: 128M

　　Screen: 7-inch high definition LCD touch screen, resolution 800 * 480

　　Map: Daodaotong 3D Real Map

　　The 7-inch TET large screen of the Huafeng e-Luhang LH700 gives people the feeling that it is first and foremost atmospheric and decent, with a resolution of 800 x 480 allowing navigation information to be clearly displayed.

　　In the navigation function, the first efficient positioning star search makes it only 13 seconds to complete the positioning when entering the navigation. On speed-limited sections, schools, traffic lights, and accident-prone sections, its fixed electronic data can be broadcast in advance to effectively avoid fines. And its unique Eagle Eye function allows car owners to grasp the itinerary in advance and modify the route in time. Daodaotong 3D real map provides a rich real map for Huafeng e-LH700, making it more three-dimensional and intuitive during navigation.

　　At the same time, Huafeng e-Luhang LH700 also supports MP3, video playback, FM transmission, e-book and other entertainment functions.

　　Editor’s comment:Huafeng e-Luhang LH700 has a lot of user-friendly design in function, such as its intelligent switch function, when the car starts, it will turn on the navigation, turn off the flame and automatically switch to power-saving sleep mode. In terms of after-sales services, Huafeng e-Luhang’s E-baby service center, which can solve various problems online, and there are more than 300 joint insurance points across the country to provide consumers with perfect services for purchasing machines.

　　How to seize the new opportunities of digital transformation in the era of digital economy is a must-answer for Dongguan furniture industry to achieve high-quality development.

　　As a famous furniture manufacturing city in China, Dongguan’s furniture industry is famous at home and abroad. As a characteristic industry in Dongguan, how to seize the new opportunities of digital transformation in the digital economy era is a must-answer for the furniture industry to achieve high-quality development.

　　At the beginning of this year, Dongguan proposed to promote the digital transformation of the furniture industry cluster, with a clear transformation goal of personalized customization transformation, using digital technology to penetrate the front, middle and back ends of the furniture industry, extending from manufacturing business to high added value at both ends of the value chain, and realizing the transformation from "production + sales" to "product + service" by 2025.

　　Industry insiders said that, unlike other industries, the furniture industry is still a non-standard industry to a large extent. There are many product materials, complex processes, and small order volumes. Its digital transformation is difficult to achieve in one step. Although some leading enterprises have taken the lead in digitalization, the digital transformation of Dongguan furniture industry is still in its infancy.

　　Lin Guorong, vice chairperson of the China Furniture Brand Alliance, said that most of the furniture industry in Dongguan produces high-end home products, which also makes the digital transformation of the furniture industry in Dongguan more difficult. "But Dongguan’s advantages are also obvious. Relying on industrial Internet platforms such as Huawei Cloud and Wewin Big Data, the furniture industry will have great technical advantages in digital transformation, and will explore more local solutions for the digital transformation of Dongguan furniture industry clusters."

　　Industry digital transformation is still in its infancy

　　According to the digital transformation roadmap planned by Dongguan, the digital transformation of the furniture industry cluster mainly involves four parts: leading enterprises to create digital transformation system integration solutions; support enterprises to transform production lines, develop intelligent, collaborative and flexible production and processing models, and promote enterprises to transform into new production models such as personalized customization and modular furniture; promote the application of advanced furniture design technologies such as virtual simulation and 3D design, and strengthen the intelligent design of furniture products linked with smart home systems; guide enterprises to accurately grasp the end point retail situation.

　　However, combing the digitization process of Dongguan furniture industry can find that, in addition to the leading enterprises "one ride without dust", the vast majority of enterprises are "jogging in small steps" according to their own actual conditions, and are not in a hurry to digitalize in an all-round layout. The digital transformation of the furniture industry presents a bipolar phenomenon.

　　Mousse health sleep joint stock company isDongguanThe only listed company in the furniture industry, as an industry leader, is undoubtedlyDongguanThe "leader" of the digital transformation of the furniture industry. Entering the Mousse intelligent digital factory, the large screen of the industrial Internet will collect the layout and real-time progress of all kinds of equipment. In the production area, the bed net spring machine intelligently forms the string net, and the automatic edge machine operates in an orderly manner.

　　Due to non-standard products, the home furnishing industry has been facing many pain points such as high cost of personalized production and too much reliance on manpower. Mousse, on the other hand, has installed a "smart brain" in the factory by building an Industry 4.0 intelligent manufacturing system based on the soft furniture industry, allowing custom home furnishings to have flexible production lines and carry out modular and large-scale production.

　　In recent years, Mousse has introduced world-class automated and intelligent equipment and industrial processes such as Siemens. At the same time, it is equipped with an intelligent decision management platform. It integrates CRM, SAP, MES, WMS and other full systems to open up the integrated production process of orders. Production personnel can monitor and analyze the system data of each product in real time. On-demand customized C2M business model can quickly schedule production according to customer personalized and non-standard customized production needs. Customers are fully automated and visual processes from order placement to product delivery, making it one of the most automated production workshops in China’s furniture manufacturing industry.

　　Unlike Mousse, Dongguan Chuangyu Industrial Co., Ltd. chose to "gradually transfer" on the road of digital transformation. In early July, Chuangyu joined hands with Guan Enterprise Shufu to complete the upgrade and closure of Enterprise Resource Planning, and 17 major modules such as business management, group operation, and material management have been launched. Through Shufu Enterprise Resource Planning, Chuangyu Group has opened up data sharing in material control, finished product warehouse management, sales, and procurement, so as to realize data transmission between the brand end and the factory end, improve production efficiency and reduce error rates.

　　Southern finance media reporter learned that as the first step of digital transformation, many furniture enterprises in Dongguan have settled in Enterprise Resource Planning. But most enterprises have only penetrated the internal management link, connecting the front-end supply chain, back-end marketing, store end points and service links, and have not fully realized the integration and digitalization of the whole process. The digital transformation of the production line is still in the initial stage due to the high cost and complicated process.

　　"At present, our digital equipment is only for the early standardization of cutting, edge sealing, punching and other aspects. Last year, we introduced a device for the manufacture of wooden door patterns, which can realize digital three-dimensional cutting. But we have more than 40 processes, which are more complicated, and some process digital equipment is still difficult to achieve." Lin Guorong, chairperson of Chuangyu Group, introduced.

　　Let products and designs take the lead in digitalization

　　Many industry insiders said that most of Dongguan mainly produces high-end home furnishing products, with extremely high requirements for craftsmanship and higher difficulty in digital transformation. Take Rongma Furniture as an example, as a high-tech enterprise with a global professional designer and R & D team, the main production of sofas includes more than ten processes such as nail racks, cotton, and leather, all of which are completed by workers by hand. "Whether the sofa is well done or not, whether it is full or not, depends on manual realization," Rongma Furniture technicians said.

　　At the same time, the government advocates the transformation of enterprises to new production models such as personalized customization and modular furniture, requiring them to adjust their processes according to customer needs. They also face problems such as the large number of non-standardized links and the difficulty of large-scale output due to small quantities.

　　Faced with the challenges of transformation, many companies have turned to breaking through, taking the lead in digitizing their products and designs, promoting the application of advanced technologies such as virtual simulation and 3D design, strengthening the segmentation of the population, strengthening the iterative upgrade of smart home systems and products, and climbing towards high value-added links.

　　"We are currently the first to digitize product design. This year, through AI intelligent design, we have realized the virtual simulation of the exhibition hall. Consumers can experience products interactively on the Internet, accelerating the digitalization process of our flexible production," said Lin Guorong, chairperson of Chuangyu Group.

　　Using the core technology of Industry 4.0 to combine the Internet, big data, Internet of Things, etc. with industrial production, create a flexible production chain, realize the interconnection of factories, consumers, products and information data, and gradually realize the production and service, is the inevitable direction of the furniture industry. As an important territory with the strongest interaction and experience in the home furnishing industry, soft furniture has brought new growth points to the furniture industry. Relevant statistics show that it is expected that by 2023, the global smart home market will reach 510 billion yuan. The huge market space of smart home has attracted major enterprises to enter the market. The digital transformation of Dongguan furniture industry is the epitome of it.

　　In the field of smart home, Mousse has long created a "tailor-made personal healthy sleep system" in the industry. The newly developed T10 intelligent healthy sleep system can monitor heart rate, snoring, and deep sleep through built-in sensors in the mattress. When users have sleep problems, the Legend26 smart healthy sleep system will tailor sleep solutions, provide psychological intervention guidance such as sleep music and CBTI, and realize closed-loop management of the smart healthy sleep ecosystem.

　　As one of the first companies in China to lay out smart homes with smart furniture as an entry point, Rongma Furniture’s Livable Home brand has become one of the first companies to enjoy the benefits of the smart home industry. Walking into the smart exhibition hall of Rongma Furniture, with the help of "artificial intelligence + Internet of Things" technology, customers issue instructions to artificial intelligence "Xiaole": open the viewing mode, the curtains in the house will automatically close, and the sofa will also be adjusted to a comfortable angle. Livable Home injects artificial intelligence and Internet of Things technology into sofas, beds and other furniture items to create a "smart home".

　　Looking at the digital transformation process of Dongguan furniture industry cluster, it can be seen that actively integrating into the development trend of smart home is a highlight of the digital transformation of Dongguan furniture industry. Based on its own smart platform, creating a cloud platform interface that can be opened to the outside world, connecting to Huawei Hongmeng system, and promoting the home to upgrade to the smart IoT healthy field will be an important direction for the digital transformation of the industrial cluster in the future.

　　Big data and artificial intelligence deeply empower the industry

　　Southern finance media reporter survey found that although walking in the forefront of digital transformation, and Dongguan furniture industry cluster development has become a general trend, but due to different enterprises production and operation mode, and the degree of embedding of the industrial chain is different, leading furniture enterprises did not output a set of unified applicable to the industry’s digital transformation integrated solutions, each enterprise’s digital system, equipment, direction, etc. are independently customized, the status quo of information islands is obvious, furniture industry cluster digital transformation still maintains the "go it alone" situation.

　　With the foundation of industrial software in the early years, Foshan Weishang Furniture, which has a certain Internet gene, has become a benchmark enterprise in the custom home furnishing industry, and actively provides digital intelligence transformation solutions for upstream and downstream enterprises in the industry, shaping a classic path of digital transformation for furniture enterprises. And in Dongguan, such a case is about to be born.

　　Walking into the small laboratory of Interface Technology Co., Ltd., located in Songshan Lake, several 6-axis industrial robots and automation equipment are conducting research and development and production of various products.

　　As a technology-based innovation enterprise engaged in supply-side technology development and channel expansion in the furniture industry, Interface Technology has accumulated a lot of technical experience in the use of industrial 6-axis robots for processing processes including sheet metal, square material, soft material milling, surface forming, and supporting tooling equipment. It is mainly used in single-piece to small-batch production, targeting the majority of small and medium-sized furniture enterprises.

　　"In terms of solid wood furniture, the technology can initially meet the customization needs of some high-end customers. At the same time, due to the establishment of product and process databases, the robot production process makes it possible to produce single pieces to small batches on demand," said Wang Huaiqun, head of the interface technology department.

　　At present, Interface Technology is actively seeking cooperation with small and medium-sized furniture enterprises in Dongguan. "We hope to build intelligent furniture production units that can empower small and medium-sized enterprises, truly solve the practical difficulties of small and medium-sized furniture enterprises in digital transformation, and launch intelligent manufacturing system solutions for the furniture industry that can be implemented." Jiang Wei, founder of the company, said.

　　In terms of solving the information islands between enterprises, Dongguan furniture enterprises actively use Huawei Cloud, Wewin big data and other industrial Internet platforms for digital transformation. Lin Guorong told the Southern Finance and Economics All Media reporter that he has established a separate technology company and joined hands with Huawei to create a "data Rubik’s Cube". "We hope to create a solution together with Huawei, and use a central platform to link different software and systems in the integration industry. Enterprises bring their own data to the station. As a peer-to-peer exchange, the platform will provide enterprises with corresponding user portrait analysis, logistics matching services based on big data, etc."

　　"Making big data and artificial intelligence technology deeply empower the industry is the core goal of the digital transformation of Dongguan’s furniture industry in the future," Lin Guorong said.

　　(Author: Zheng Kangxi, a trainee reporter for Southern Finance and Economics All Media, Editor: Yu Changhuan)

　　China News Service, Beijing, November 13 (Lang Lang) At around 3:00 a.m. on November 9, a knife attack by a Didi driver occurred in Nanjing, causing a dispute between the two sides due to passengers demanding that the driver speed up in the tunnel.

　　Didi said that after verifying the recording in the car of the order, it was found that the passenger asked the driver to speed during the journey; while the passenger said in an interview with the China News Service reporter that he did not ask the driver to speed, but only to be as fast as possible within the speed limit.

　　The injured passengers have responded to the incident online. Some netizens believe that the speed limit for crossing the tunnel is stipulated by law, and passengers are unreasonable; others question why the driver is carrying a knife?

　　The scene of the incident, pictures provided by the interviewees

　　Dispute 1: Did the passenger ask the driver to speed?

　　At around 1am on November 9, Mr. Wang called for an express train through "Didi Chuxing" on the Alipay terminal and went from Nanjing South Railway Station to his residence on Huju Road. He recalled to a reporter from China News Service that because he was in a hurry to go home and video with his girlfriend, when the car reached the Qingliangmen tunnel, "I saw that there was no car in the tunnel, so I asked the driver to drive quickly." The driver refused Mr. Wang on the grounds of speed limit. The two sides immediately quarreled.

　　According to Mr. Wang’s account, after the car drove out of the tunnel to near Hohai University, the driver asked Mr. Wang to get out of the car, and he also got out of the car. The two had a physical altercation. Mr. Wang pinned the driver to the ground, and the driver showed a knife and stabbed Mr. Wang in the right arm.

　　"The knife hit the bone, and blood spurted out immediately." Mr. Wang said that he couldn’t see where the other party took out the knife in the night, but only remembered that it was a black dagger about 10cm long.

　　Mr. Wang said that after he called the police, the driver scolded: "It’s good that you didn’t stab to death."

　　"He also said that he had just stabbed someone two days ago, and his uncle was the director of the Public Security Bureau." Mr. Wang said that after the incident, the driver Liu was taken away by the police and was criminally detained. Mr. Wang was sent to the hospital’s intensive care unit for a broken vein. Due to excessive blood loss (about 1000cc), he fainted three times before and after, and is currently recovering.

　　On the 12th, in an interview with China News Service, Didi replied to the matter, saying that the platform had verified the in-car recording of the order: the passenger asked the driver to speed during the journey, but after the driver refused, the two sides had an altercation, which then escalated into a physical conflict.

　　The reporter asked Mr. Wang many times "whether the driver is required to speed", and Mr. Wang always made it clear that he only asked the driver to drive faster within the speed limit, not to speed.

　　The driver was detained and unable to be interviewed.

　　Passengers receiving treatment, photos provided by interviewees

　　Dispute 2: Why do drivers carry knives? Does the platform allow it?

　　In addition to the "Rashomon" "whether speeding is required", there is another point of debate in this incident – why does the driver have a knife?

　　Screenshots of netizens’ comments

　　According to Didi’s disclosure, platform data shows that the driver of the Dongfeng Fengxing Jingyi X6, which Mr. Wang was riding, has obtained a driver’s license for online car-hailing in Nanjing, with a history of receiving more than 10,000 orders. Past passengers have rated it as five-star.

　　According to a report by Jiangsu media "Wusu.com", a staff member of Didi Chuxing said in an interview: The company expressly stipulates that drivers are not allowed to bring controlled knives on the bus. As for why drivers carry daggers with them, as of the press release, Didi has not responded positively.

　　In a reply to the media, Didi said: "After receiving the relevant information, the platform immediately set up an emergency response team. On the one hand, the staff was assigned to visit the hospital at noon to visit the injured, pay medical expenses in advance, and ensure that the injured were fully and timely treated. On the other hand, actively cooperate with the police to investigate the incident."

　　"Next, we will step up efforts to educate drivers on safety and platform rules, guide drivers and passengers to communicate in a civilized and rational manner, and resolve disputes through reasonable and legal channels," Didi said.

　　Didi: One wave has not been leveled, and the hitchhiker has just been back online.

　　This is not the first time something has happened to Didi.

　　On the evening of May 5, 2018, Li, a flight attendant in Zhengzhou, was killed while riding a Didi ride-hailing car. On August 24 of the same year, Zhao, a 20-year-old woman in Yueqing, Zhejiang, was killed while riding a Didi ride-hailing car. One hundred days, two lives, Didi announced that it would offline its ride-hailing business nationwide.

　　In March 2019, a Didi driver in Changde, Hunan Province, died after being stabbed more than 20 times by a passenger named Yang.

　　Not long ago, on November 6, Didi announced the trial operation plan of Didi Hitch: it will be launched in seven cities including Harbin and Beijing from November 20. The plan has also been adjusted due to the controversy over "whether it discriminates against women".

　　According to the Economic Daily, in July this year, Didi Chuxing held a hitch media communication meeting in Beijing. "I’m just afraid." Liu Qing, president of Didi Chuxing, admitted at the meeting that the team was "rather cowardly" and waited so long because he was afraid. "Who is so sure that they can launch a 100% safe product?"

Half a month ago, Ms. Li, who was on a business trip to Jinan, used the chauffeur service. After checking out, she found that she had charged 109 yuan for a 1.5-kilometer trip. Recently, many car owners reported to the New Yellow River reporter that they had been charged high prices when looking for a chauffeur, suspecting that they might have encountered a "black chauffeur".

The reporter visited and investigated and found that most of the suspected "black drivers" wore regular imitation clothes and "squatted" drunk passengers on the scene. They borrowed billing software to set the payment amount at will, and even some billing software did not require identity verification and only charged membership fees.

Citizens spend 109 yuan to find a driver for 1.5 kilometers, which is nearly double the cost of other platforms

On November 9, Ms Li arrived in Jinan from Zibo on a business trip. That night, she had a drink with a friend at a bar on Luoyuan Street. After the show ended at 2am the next day, she called a chauffeur at the scene. "He was wearing platform clothes and said he was driving on behalf of Shi Cheng. I thought it was not far from the hotel where I stayed, so I asked him to send me back to the hotel." After arriving at the destination, the driver said that the weather was cold and he would increase the price, charging 109 yuan, Ms Li said. "I drank a lot at that time, so I paid him the money. The more I thought about it the next day, the more wrong it was."

Ms. Li said that the map from the bar to the hotel showed a distance of 1.5 kilometers, and a well-known driving platform only cost 55 yuan to drive 8 kilometers, and the fee of 109 yuan was too high. "Later, I didn’t find the Shicheng driving platform from the mini program, and I suspected that I encountered a’black driving ‘." Subsequently, the reporter checked the fee of a well-known driving platform, and the starting price from 0:00 to 6:00 was 55 yuan within 8 kilometers. The fee charged by the "driving" that Ms. Li encountered was nearly double that of the platform.

The screenshot of the payment order provided by Ms. Li shows that the recipient of the order is "Shicheng Auto Service", which is a personal account number. The reporter did not check the relevant information of the company through Tianyancha.

Coincidentally, Mr. Zhang, a citizen, also encountered a similar situation. "At the end of the liquor store, I found a chauffeur at the door of the hotel, and the chauffeur showed me with his mobile phone, indicating that he was a regular chauffeur, and the platform automatically billed him. It was not until after payment that I found out that the recipient was the chauffeur himself, not the regular chauffeur platform." Mr. Zhang also said that such "chauffeurs" are specifically aimed at passengers who are half-awake and half-drunk, "which is easier to’start ‘."

Reporter investigation: There are offline driving agents using billing software, and prices can be set at will

Regarding the situation reported by the citizens, the reporter launched an investigation near several hotels in the evening of the past few days. In the Impression Jinan business district, the reporter asked a driver after observation. The driver said that he was cheaper than the regular driving platform. The reporter showed that after arriving near IKEA, the driver’s platform order showed 100 yuan, so he urged the reporter to place an order. The reporter opened a regular driving platform to inquire, and the cost was only 35 yuan. So he asked the driver why the price was so high. The driver immediately locked the screen of his mobile phone and rode in the other direction.

At a barbecue compound on Olympic Sports Middle Road, several chauffeurs in formal attire stopped at the door of the hotel waiting for passengers. When asked by a reporter, the chauffeur said that he could directly transfer money on WeChat without going to the platform at the same price as the platform. "The platform needs to deduct our service fee, or I am a little cheaper than the platform, you can directly transfer it to me." The driver said.

A driver revealed that there are currently driving software on the market that can modify the price at will, and many data can be adjusted by the driver. Among these driving billing software, an app called "driving billing" is quite popular.

Subsequently, the reporter downloaded the "driving pricing" app in the Apple App Store and found that the software does not require identity authentication, as long as you enter your mobile phone number and verification code to log in. On the software, registrants can set their own pricing template, starting price and starting mileage, waiting time charges, return fees, etc. After exceeding the starting mileage, the price per kilometer can also be set by themselves, and all prices can be set from 1 yuan to 151 yuan.

The reporter edited the billing template in the "Driving Price" App. The starting price for the whole day is 151 yuan. The software shows that after starting the order and then ending the order, the driving fee of 151 yuan can be charged.

The driver revealed that in addition to using the software to arbitrarily price, there are also some personal driver drivers who buy driver clothes online to hide people’s eyes and ears. On the Taobao platform, the reporter entered "driver’s vest", and you can see a large number of clothes that are exactly the same as the regular driver’s platform appeared in the search results. The reporter randomly clicked on a store to ask about the driver’s vest. The customer service of the store said that the store’s driver’s vest is the same as the regular driver’s platform, and the font and logo can be changed. It will be shipped within 48 hours.

There are more than ten types of driving billing software, and the starting price limit can be unlocked by software payment.

The reporter learned that at present, the main drivers are registered drivers of various driving platforms and personal drivers who do not have any guarantees and operate independently. Some personal drivers do not want to pay platform fees or share with the platform, so they rely on billing software for pricing. The reporter searched for software related to driving and pricing in the Apple Store and found that there are more than ten downloadable billing software. Some software can be downloaded and used, and some software shows that the network connection is unstable and cannot be used when registering.

The reporter randomly downloaded a software called "Driver", and the software introduction stated that "Driver" is a traffic navigation and billing application. Regardless of the driver or the owner, you can customize the billing template. After starting the service, according to the current billing rules, calculate the mileage and the price corresponding to the mileage in real time. You can set the mileage correction function, estimate the price of the mileage, accurately calculate the positioning, travel trajectory, and one-click navigation. It is a necessary metering tool for driver drivers.

Later, when the reporter changed the starting price of the software to the maximum limit of 120 yuan, the software reminded "The starting price you set has exceeded the current city price too much. In order to avoid disputes with customers, please set it carefully. If you need to unlock, pay 299 yuan to permanently unlock the starting price limit."

In the market, a variety of billing software is used by drivers to slaughter customers, and even become a kind of "convenience". How should the rights and interests of consumers in question be protected? A staff member of the market supervision department told reporters: "’Black driving’ belongs to the chaos of the industry. We mainly supervise the driving company, such as whether the platform clearly labels the price to consumers and whether the billing basis is informed to consumers. ‘Black driving’ is based on personal pricing, or using some billing platforms to charge consumers unreasonable driving fees. It is difficult for market supervision departments to supervise and enforce personal charging behavior."

According to a staff member of Jinan 12345 transportation special seat, driving is an emerging industry. At present, there are no laws and regulations in our country to prevent individuals or units from engaging in driving activities, and there are no laws and regulations to stipulate driving standards, qualifications and qualification restrictions.

Industry insiders say the industry lacks supervision and the market order still needs to be standardized

A person who has been engaged in the driving industry for many years said that the driving industry currently lacks professional standards and the norms of relevant institutions, and is in a state of unsupervised. According to his understanding, "personal driving" in Jinan mostly exists near the Olympic Sports Area and the High-tech Zone. " For example, during peak periods, when orders are issued very intensively, passengers can’t find a chauffeur on the platform. At this time, such’personal chauffeurs’ start to’attract customers’. Most of them are mobile squatting stations, and some drivers wear regular platform clothes, and they can’get back their money ‘by taking an order in one night; there is another situation, the regular platform will deduct 2% of the driver’s service fee. Some drivers are unwilling to go to the platform, and the asking price is the same as the platform price, but when encountering a driver with poor driving skills, it is difficult to find someone to hold accountable for an accident. "

The industry insider cautioned, "The most reliable way is to call the driver through the regular platform. The regular platform has the driver’s information. If there is a safety problem, each driver has insurance, and the owner can find the driver to be held accountable. The driver is bound by the corresponding regulations of the platform and will not ask for the price at will."

The reporter searched and found that from September 20th to October 19th, the Jinan Municipal Transportation Bureau publicly solicited opinions and suggestions from the public through the website of the Jinan Municipal People’s Government on the "Notice on Regulating the Order of the Driving Market (exposure draft) ". One of the solicitation opinions mentioned the threshold for employment and the government’s introduction of pricing standards: There are no special laws and regulations in our country to regulate and restrict the entry threshold for engaging in driving services. At present, it mainly relies on the self-discipline of each driving service operator (platform or enterprise, the same below). Each driving service operator independently determines the recruitment standards and regulations for car drivers according to their own operating conditions. Secondly, according to the "Price Law of the People’s Republic of China" and the "Shandong Province Pricing Catalog", the government pricing project implements directory management. The driving service is not included in the "Shandong Province Pricing Catalog", and the price is subject to market-adjusted prices. The specific price standards are independently formulated by the operator according to their own costs and market supply and demand.

Huang Xiwen, a lawyer at Shandong Zhengdu Law Firm, also reminded consumers that there are currently no unified regulations on surrogate driving across the country. The management of surrogate driving is mainly due to the internal supervision of the company and the self-discipline of the surrogate driver. Therefore, when choosing a surrogate driver, try not to be convenient. You can directly find a surrogate driver at a restaurant, bar, etc. to solicit business. You must check the other party’s driver’s license, confirm the basic information and leave your contact information. It is best to place an order through a regular surrogate driving platform to prevent accidents.

New Yellow River Reporter: Yan Xiaoyu

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) ■

　　

Wen Ya training chart

Wen Ya practices diving.

　　A few days ago, @ Zhejiang Satellite TV China Blue @ China Star Jump triggered a new diving boom. During the visiting classes of fans and the media, we found that Wen Ya’s body had been seriously overdrawn after many days of training. In order to complete the strict training again and again, not only was her thigh bruised by water spray, which was worrying.

　　Among the many stars who appeared in "China Star Jump", Wen Ya is the first female star to start diving training. With her own efforts, she also has a very good reputation among the staff. According to the staff, Wen Ya is the earliest to arrive at the training ground every day and the latest to leave. Girls love beauty, but Wen Ya has made painstaking efforts for training, which made her thighs covered with bruises caused by diving. Many fans expressed their anxiety after watching it, but Wen Ya didn’t mind it. She said that these efforts can let everyone see her beautiful diving process on TV, which is very worthwhile for her.

　　In the interview, Wen Ya didn’t disclose more information, but some fans in Wen Ya said that Wen Ya’s nose had lost its sense of smell for a week because of a strong water impact during training, except for a thigh injury. Although the doctor said that this loss of sense of smell was not permanent, Wen Ya’s efforts to overdraw her body for the audience were really touching.