Xinhua News Agency, Beijing, November 5th (reporter, Ding Jing) What time does the next bus arrive? Is the subway station crowded now? When should I get off? Passengers can enjoy these smart services when traveling in Beijing. Beijing Municipal Transportation Commission signed a strategic cooperation framework agreement with Autonavi Map on the 4th. The two sides will share traffic big data and launch more abundant transportation services within Beijing.

The two parties will build an integrated service platform for green transportation in Beijing – MaaS (Mobility as a Service, Mobility as a Service). The idea of the platform is to enable travelers to transform from owning vehicles to owning transportation services, and improve the public travel experience through one-stop service of various transportation methods. The platform is based on the Autonavi map APP, which connects to big data from various transportation industries such as Beijing’s public transportation, subway, suburban railways, online car-hailing, and long-distance buses. At present, real-time public transportation has covered more than 95% of bus lines in Beijing, and the accuracy rate of real-time information matching exceeds 97%. Passengers can also check the current congestion situation of all subway stations in Beijing through this platform. The Beijing MaaS platform has pioneered the "bus/subway ride companion card", which can display services such as route planning, transfer guidance, and get off reminders in real time according to the user’s location.

guideThe car has lost more than 110 billion in 5 years.

Source |Hengda Automobile Announcement, Financial World, Securities Times, Daily Economic News

According to Hengda Automobile’s announcement, Newton Group’s strategic investment has been terminated, and the company’s previously proposed transactions and amendments to the terms of the debt-to-equity swap have not made any further progress.

Evergrande Motor said that it will not hold a shareholders’ meeting for approval and will not publish any circulars relating to, among other things, the Special Mandate, the Newtown Group share purchase agreement, the proposed transaction, the wash waiver, the proposed amendment, the debt-for-equity subscription agreement, the offset agreement and the debt-for-equity swap. The company will no longer issue further monthly announcements on the proposed transaction and the progress of the debt-for-equity swap.

As the Share Subscription is no longer in progress, the Subscriber is under no obligation under Rule 26 of the Takeovers Code to make an unconditional mandatory general offer in respect of all outstanding Shares which it and persons acting in concert with it have not yet owned or consented to acquire. The Company will not apply to the Executive for his consent to the Special Deal.

In August 2023, Hengda Auto and strategic investor Newton Group signed an agreement. The main content of Newton Group’s share purchase agreement is that Newton Group implements a strategic investment of about 500 million US dollars in Hengda Auto and provides 600 million yuan in transition funds; the debt-to-equity swap agreement means that Hengda Group, Xu Jiayin and other creditors offset the 20.895 billion Hong Kong dollar debt owed by Hengda Auto by subscribing for new shares of Hengda Auto. Assuming that the debt-to-equity swap of new energy vehicles is completed and followed by the completion of the subscription of new energy vehicle shares, China Evergrande’s shareholding ratio in Evergrande Automobile will be diluted to about 46.86%, Evergrande New Energy Automobile will no longer be a non-wholly-owned subsidiary of China Evergrande, and its financial performance will no longer be comprehensively accounted for in China Evergrande’s performance.

In October 2023, the transaction was suspended, and Evergrande announced that Newton Group had suspended the implementation of relevant obligations in the share purchase agreement. The change in the transaction was directly related to the exposure of "Xu Jiayin was subject to coercive measures" at that time, which interrupted the process of Hengda’s dollar debt restructuring, which in turn caused Hengda to fail to meet the pre-conditions of the transaction.

In January 2024, Evergrande announced that the Newtown Group’s share purchase agreement and the company’s debt-for-equity swap subscription agreement for Evergrande had expired on December 31, 2023. At that time, Evergrande responded that the parties to the Newtown Group’s share purchase agreement and debt-for-equity swap subscription agreement, as well as certain stakeholders, have been and will continue to negotiate amendments to certain key terms of the proposed transaction and debt-for-equity swap. The company will make monthly announcements until it announces its exact intention to proceed with the proposed transaction and debt-for-equity swap or decides not to proceed with the proposed transaction and debt-for-equity swap.

Evergrande’s "life-saving money"

Newton Group’s strategic investment in Hengda Automobile is regarded by public opinion as "life-saving money" for Hengda Automobile.

On August 14, 2023, Hengda Automobile announced that it received the first strategic investment of 500 million US dollars from the listed company Newton Group (NWTN.US), which is held by the sovereign fund of the United Arab Emirates, and another 600 million yuan of RMB transition funds will be received one after another 5 working days after the announcement.

The proposed transaction between the two parties is expected to close in the fourth quarter of 2023. Upon completion of the transaction, Newton Group’s shareholding ratio in Evergrande will account for 27.5% of the total number of issued ordinary shares after the expansion.

However, the deal is subject to 19 preconditions, including the entry into force of the China Evergrande workout and the absence of material adverse events.

The car has lost more than 110 billion in 5 years

According to Hengda Automobile previously disclosed that all the funds invested in this war will be used for Hengda Automobile’s Tianjin factory to ensure the normal production of Hengchi 5 and the successive mass production of Hengchi 6 and 7. In addition, Newton Group will also assist Hengda Automobile to develop overseas markets and achieve the annual export of 30,000-50,000 Hengchi vehicles to the Middle East.

In 2023, Hengda’s total revenue is 1.34 billion yuan, of which more than 1.10 billion yuan comes from property sales, accounting for more than 90% of the overall revenue.

Hengda Automobile lost 11.995 billion yuan last year (27.664 billion yuan in 2022). Statistics show that Hengda Automobile has been building cars for 5 years, with a cumulative loss of 110.841 billion yuan and a cumulative delivery of 1389 units.

As of the end of last year, Hengda’s total assets 34.851 billion yuan; total liabilities 72.543 billion yuan, of which, loans 26.484 billion yuan, trade and other payables 43.012 billion yuan, other liabilities 3.047 billion yuan.

As of the end of last year, Hengda Automobile was involved in the outstanding debts of about 9.447 billion yuan; on December 31, 2023, the group’s overdue commercial tickets accumulated about 3.401 billion yuan. In addition, the number of pending proceedings with a target amount of more than 30 million yuan totaled 68 pieces, and the total amount of the target amount totaled about 13.608 billion yuan.

On December 1, Lynk & Co officially announced that the 2021 Lynk & Co 01 was officially launched. The new car launched a total of 5 models, priced at 17.98-22 2,700 yuan. It is worth mentioning that the new car, as a mid-term model, has not only adjusted its appearance accordingly, but also launched a hybrid model to meet the diverse needs of consumers. In this regard, Lin Jie, vice president of Geely Automobile Group and general manager of Lynk & Co Auto Sales Company, said on the spot: The new Lynk & Co 01 is the most valuable SUV within 300,000 yuan.

In addition, Lynk & Co officially launched the "European Plan" on the occasion of the fourth anniversary of the brand, and the new Lynk & Co 01 will also be launched in China and Europe simultaneously. Recently, the first offline experience store in Europe has opened in Amsterdam; at the same time, Lynk & Co is also actively promoting the layout of Asia Pacific and other international markets.

Focusing on the product, in terms of appearance, it can be found that the Lynk & Co 01 has continued the current shape as a whole, and the split headlight group design that is most well received by consumers has also been continued. It is worth mentioning that the new car has also changed the internal filling method of the front air intake grille to dot matrix filling, which further enhances the visual tension and three-dimensional sense, and integrates well with the lower half of the headlight group, doubling its youthful feeling. In addition, the new car has also optimized the bumper shape to a certain extent, making it look simple and beautiful.

From the side of the car, it can be found that the new car has added a side skirt with a metallic texture, and has been replaced with a 20-inch wheel hub. With a hidden A/B column design and a two-color body, the new car presents a sense of movement and vitality that is more in line with the aesthetics of today’s young consumers.

In terms of size, the length, width and height of the new Lynk & Co 01 are 4549/1860/1689mm respectively, and the wheelbase is 2734mm. Compared with the current model, the length is increased by 37mm, the width is increased by 3mm, and the height and wheelbase remain unchanged.

Entering the car, you can find that the internal changes of the new car are more obvious. The new Lynk & Co 01 adopts a new family design similar to the style of Lynk & Co 05. Whether it is a 12.7-inch multimedia touch screen, or a 12.3-inch full LCD instrument panel and a two-color three-frame multi-function steering wheel, it further enhances the youthful feeling of the car. In addition, the air-conditioning control area below the central control screen has also been significantly optimized to make the overall operation more convenient.

It is worth mentioning that the 12.7-inch large screen on the new car is not only larger in size, but also has a significant improvement in performance. The Snapdragon 820A chip is equipped to further meet consumer needs in terms of car computing power. And whether it is the overall response speed, or the richness of applications and configurations, it is more in line with the needs of today’s young consumers.

In terms of power, the new car will be equipped with Drive-E 2.0TD + 8AT powertrain, and provide two versions of high and low power for consumers to choose from. Among them, the high-power version has a maximum power of 254Ps and a peak torque of 350Nm, and the new car’s 100-kilometer acceleration only takes 6.7 seconds. The low-power version has a maximum power of 218Ps and a peak torque of 325Nm. According to the official, after matching the chassis and stability of the European driving style, its acceleration is faster, the braking is more stable, and the braking distance of 100 kilometers can be less than 35m.

At the same time, the new Lynk & Co 01PHEV model will be equipped with a plug-in hybrid system based on a 1.5T three-cylinder engine, matched with a 7DCT-H wet dual-clutch gearbox; pure electric cruising range of 81km, comprehensive fuel consumption of 1.4L/100km, and support 4 + 1 multiple drive modes. Equipped with BorgWarner’s 5th generation intelligent four-wheel drive system, the comprehensive cruising range is expected to exceed 800 kilometers.

Write to the end:

It has been three years since the launch of the Lynk & Co 01, and the sales volume of the Lynk & Co 01 has reached 45% of the entire brand, which is self-evident. And with the launch of the new Lynk & Co 01, whether it is in terms of appearance, technology, or performance, it is further in line with the current needs of young consumers. The launch of hybrid models is expected to further boost the overall sales of the Lynk & Co brand.

[Individual stock trend]

April 17 to April 21

Last week, the Hang Seng Index fell 1.78% for the week, and the Hang Seng Technology Index fell 4.66%.

Meituan -W Hong Kong stocks rose 6.33% last weekLast week’s total turnover 17.551 billion Hong Kong dollars, as of last week’s close, the Hong Kong stock price was 137.70 Hong Kong dollars, the market value of 859.447 billion Hong Kong dollars; Hong Kong stocks fell 4.04% this month, 21.18% this year, nearly 52 weeks down 2.62%.

[Company comparison]

[Related News]

JP Morgan’s shareholding ratio in Meituan increased from 4.91% to 5.02%

According to the Hong Kong Stock Exchange, on April 17, JP Morgan’s shareholding ratio in Meituan increased from 4.91% to 5.02%.

Meituan: Zibo barbecue brings fire to Shandong cultural tourism consumption, and the overall tourism order volume in the first quarter increased by 45% year-on-year.

According to the Shanghai Stock Exchange, the heat of barbecue in Zibo is still "top stream", and Weifang kites have set off a new round of craze across the country. According to retail platform Meituan data, the overall tourism order volume in Shandong Province increased by 45% year-on-year in the first quarter, the overall catering order volume increased by 20%, and the nighttime consumption vitality index rose by 19.5% year-on-year. A number of data show that innovative consumption formats and models have enabled the consumer market in Shandong Province to pick up in the first quarter.

Zhang Kun increased his position in Meituan and TSMC in the first quarter! The only situation where a good company is not a good stock is that the valuation is too high

According to surging news, Meituan-W, China National Offshore Oil, JD.com Group-SW and TSMC won the "public offering brother" Zhang Kun’s position in the first quarter. Just after 0:00 on April 21, Zhang Kun’s four funds in charge released the first quarter of 2023. From the perspective of management scale, Zhang Kun’s management scale did not change much in the first quarter. From 89.434 billion yuan at the end of 2022, it shrank by about 492 million yuan to 88.942 billion yuan at the end of March, a decrease of only 0.55%. Zhang Kun lamented in the first quarter report that it is so important to identify good companies, because the only situation in which good companies are not good stocks is that the valuation is too high. In other cases, good companies will bring long-term and considerable returns to investors.

Meituan takeaway first live broadcast: Mixue Bingcheng sales broke 100 million, Luckin raw coconut latte sold 1 million cups

According to Blue Whale Finance, Meituan takeaway has newly upgraded the "God Coupon Festival". Through the linkage of head KOL live broadcast and "takeaway + to the store", it has created a limited-time and limited-time special "explosive market" for the first time. As of 23:59:59 on April 18, 2023, the number of takeaway orders increased by nearly 50% year-on-year, and the DAU increased by 75% year-on-year. The average weekly growth rate of the transaction volume of the 100 major catering brands participating in the event exceeded 30%. During the event, the overall transaction WoW growth rate of tea and coffee reached 21%. Among them, Mixue Bingcheng’s sales broke 100 million, and a total of 15 million cups were sold; Luckin sold 1 million cups of coconut latte alone. The growth of the dinner category was significant, with Haidilao’s sales growth reaching 180%.

This article is from the theme of Hong Kong-US Data Connect, click to read more Hong Kong-US company dynamics > > >

Article | Interesting understanding of business, Li Wenqi

In addition to selling cars, what else can car companies sell? The answer may subvert your perception.

Recently, Huiding Insurance Brokerage Co., Ltd. (hereinafter referred to as "Huiding Insurance Brokerage") changed its corporate name to NIO Insurance Brokerage Co., Ltd. This move has attracted widespread attention because it is understood by industry insiders as the acceleration of NIO’s layout in the insurance sector.

Image credit: Qichacha

In recent years, not only NIO, but also the number of new energy vehicle companies that value the auto insurance market has gradually increased. Xiaopeng, Ideal, BYD and Tesla have all made plans.

Dong Hao, a veteran in the automotive industry, said that compared with traditional property insurance companies, new energy vehicle companies entering the new energy vehicle insurance market have more advantages in vehicle loss assessment and insurance premium estimation. Car companies can use this as a service breakthrough point and develop more high-profit after-car ecosystem services.

But just like the two sides of the coin, can the beautiful new energy auto insurance really help NIO develop the after-car ecosystem? And, how much support will the continuous cross-border NIO give to the auto insurance business after the launch of mobile phones, charging piles and other products? This may be the point that the current industry pays more attention to.

01. Crowded car insurance track, NIO is catching up

According to the latest statistics released by the Ministry of Public Security, as of the end of September 2023, the national new energy vehicle ownership reached 18.21 million, accounting for 5.5% of the car ownership. From the first to the third quarter of 2023, 5.198 million new energy vehicles were registered nationwide, an increase of 40% year-on-year, accounting for 28.5% of the new car registration.

There is no doubt that the outbreak of the new energy vehicle market has made new energy vehicle insurance a huge blue ocean market. Soochow Securities estimates that by 2025, the scale of new energy vehicle insurance premiums will reach 186.50 billion yuan, accounting for 17.9% of the total proportion of vehicle insurance premiums; by 2030, this scale will reach 454.10 billion yuan, accounting for 32.1% of the proportion of vehicle insurance premiums.

For this huge and promising market, a number of new energy vehicle companies have entered the market.

In July 2018, XPeng Motors established Guangzhou XPeng Motors Insurance Agency, which was later renamed Guangzhou Smart Choice Consulting Services Co., Ltd.; in 2020, Tesla Insurance Brokerage Co., Ltd. was established in Shanghai; Li Auto also fully acquired Yinjian Insurance Brokerage Co., Ltd. in June last year, and later changed its name to Beijing Ideal Insurance Brokerage Co., Ltd. At the 2022 Annual General Meeting, BYD Chairperson Wang Chuanfu said that BYD would enter the new energy automobile insurance industry.

There are many benefits to the deployment of new energy vehicles in the field of auto insurance – after obtaining the relevant insurance license, new energy vehicle companies can configure insurance through car owners to form a complete closed loop of car manufacturing, sales, and after-sales services, which is expected to become a new profit growth point for car companies.

In this context, it is logical for NIO to accelerate the layout of insurance. As early as the beginning of 2022, NIO invested in the establishment of NIO Insurance Brokerage Co., Ltd., with a registered capital of 50 million yuan; but unfortunately, until the company was cancelled, the company did not obtain relevant qualifications, let alone carry out related insurance business.

The reason is actually very simple. Insurance qualifications themselves are a scarce resource. In recent years, the insurance intermediary market has developed rapidly, but there are also pain points of uneven operation quality of intermediaries. Regulators have tightened the approval of insurance intermediary licenses.

But this did not discourage NIO’s determination to explore the insurance market, and instead looked for a "curve" entry route. In December 2022, Anhui NIO Data Technology Co., Ltd., controlled by NIO founder Li Bin, wholly invested in Huiding Insurance Brokerage, and then the original executives also withdrew one after another. It was not until September this year that Huiding Insurance Brokerage changed its name to NIO Insurance Brokerage, and NIO finally went official in its own insurance business.

Picture source: NIO Insurance Broker official website

For this acquisition, NIO did not disclose the specific transaction amount. But according to the market situation, it will not be too low. For example, when BYD transferred 100% equity of Yi’an Property Insurance this year, it spent 4 billion yuan to invest in insurance licenses with higher "gold content". In this regard, some market analysts said that the application for relevant license qualifications in the insurance industry is relatively long. NIO’s operation of Huiding Insurance Brokerage is behind "using money for time". It is naturally easier to buy chickens and lay eggs than to raise big chickens and then lay eggs.

"But the insurance industry is more complicated, and it’s not a one-day job." Zhang Xiang, a visiting professor at the Yellow River Institute of Science and Technology and an automotive industry research institute, said to "Interesting Business": "NIO obtains qualifications through acquisitions, and then opens up sales, insurance, after-sales and other links. For the insurance business, it can deeply cultivate the precise customer group, which is a big advantage. But it should be noted that new energy vehicle insurance is not a profitable business at the moment."

02. Is there enough "ammunition"?

The license qualification is grafted through the "banknote ability", and the subsequent challenges that NIO has to face are the financial ability, technical ability and network layout. No matter what, stronger "banknote ability" is required. "Especially the financial ability level is a big test for new energy vehicle companies," said Mr. Fei, an industry insider.

Because behind the blue ocean of new energy vehicle insurance, there is a hidden high compensation pressure and the resulting general loss. Shenwan Hongyuan Group’s research report shows that the current new energy vehicle insurance compensation rate generally exceeds 85%, and the industry is facing greater underwriting loss pressure.

Zeng Yi, general manager of China Pacific Insurance Property and Casualty Insurance, has also publicly stated that the insurance rate of new energy vehicles is nearly double that of fuel vehicles, and the year-on-year increase in automobile travel in the first half of this year has posed a certain pressure on the underwriting cost of new energy vehicles. China Pacific Insurance’s 2022 interim results show that the new energy vehicle insurance premium grew rapidly in the first half of last year, accounting for 6.6%. However, the new energy vehicles underwritten by Pacific Insurance Property and Casualty Insurance are still losing money.

A set of data obtained by the reporter of the Economic Observer also shows that the insurance rate and compensation rate of new energy vehicles are at a high level. In the first half of 2023, the number of new energy vehicle insurance settled compensation cases increased by 1021.9% year-on-year, and the average compensation for resolved cases was 5801 yuan, an increase of 764 yuan compared with the same period in 2022. However, the average insurance premium for new energy vehicle insurance was only 4081 yuan, a decrease of 47 yuan compared with 2022.

All kinds of phenomena have confirmed that the new energy compensation amount is currently much higher than the insurance premium income. This also means that all players entering the new energy vehicle insurance field must prepare sufficient ammunition. So, is NIO ready?

At the end of August this year, NIO-SW (09866) announced its unaudited financial results for the second quarter ended in the first half of 2023. Data show that NIO’s revenue in the second quarter of 2023 was 8.7717 billion yuan, a year-on-year decrease of 14.8%; gross profit was 870 billion yuan, a year-on-year decrease of 93.5%; net loss was 6.0558 billion yuan, an increase of 119.6%; adjusted net loss was 5.4457 billion yuan, an increase of 140.2%.

Image source: Screenshot of earnings report

From the perspective of the general environment, new car-making forces have shown varying degrees of losses; in the first half of this year, Li Auto’s total revenue was 47.44 billion yuan, and its net loss was 3.24 billion yuan. In comparison, NIO’s loss situation is much more serious.

According to the annual report of NIO-SW (09866), between 2018 and 2022, although NIO’s total revenue is growing, it has been in a state of loss. The losses in the five years were 23.328 billion yuan, 11.413 billion yuan, 5.3041 billion yuan, 4.02 billion yuan and 144.37 yuan. By the first half of this year, NIO’s net loss has exceeded 10 billion yuan, which is 10.926 billion yuan.

What can be seen is that in the context of the recovery of the new energy vehicle market in the first half of this year, NIO still maintained a situation where revenue and gross profit continued to decline and losses continued to expand. Whether it is a single quarter or the entire first half of the year, NIO’s net profit attributable to the parent set a record low for the same period in history.

In terms of delivery, NIO’s situation is also not optimistic. According to public data, NIO delivered 15,641 vehicles in September this year, an increase of 43.8% year-on-year and a decrease of 20% month-on-month. It was the most severe decline in the sales list of new energy vehicles in September.

Revenue decline, delivery decline, but NIO did not reduce investment. According to the financial report data, in the second quarter of this year, NIO’s development investment reached 3.34 billion yuan, close to Tesla’s 3.98 billion yuan, but significantly higher than the ideal 2.43 billion yuan and XPeng Motors 1.37 billion yuan. Statistics can be seen from the previous data, starting from the fourth quarter of 2022, NIO’s R & D expenses have exceeded 3 billion yuan for three consecutive quarters.

It is equivalent to saying that behind NIO’s bet on auto insurance, NIO’s own financial performance and delivery are not optimistic. In the future, whether it can provide support at the auto insurance level depends on the importance of the business in the NIO ecosystem.

"If NIO’s main business is doing very well and can give greater support to the auto insurance business, then overall, auto insurance must be the icing on the cake for NIO," Mr. Fei added: "On the contrary, if its own losses increase, coupled with the high underwriting pressure of auto insurance, the pressure on NIO will be relatively large in the short term."

03. Crossing the border all the way, what is NIO in a hurry?

To the outside world, NIO is less and less like a car company. This indifference is mainly due to NIO’s full range of crossovers – mobile phones, charging stations and now car insurance business.

In June this year, it was reported that the NIO mobile phone had passed the MIIT radio approval; as expected, on September 21, NIO Innovation and Technology Day, NIO released the first ship mobile phone, NIO Phone. According to Li Bin, "NIO makes mobile phones not because mobile phone companies cross the border into the automotive industry, nor do they rely on mobile phones to make money, but NIO users need a mobile phone that is undoubtedly linked to NIO."

But in the eyes of many users, this is not the case. On social platforms, many netizens complained that "it is easier to adapt NIO to more models. The probability of buying another mobile phone alone is not high, and buying a car and giving a mobile phone is almost the same." "It is obviously something that can be done by an app, but you have to develop a mobile phone!" The topic of who the NIO mobile phone is sold to has also triggered widespread discussion.

Image source: Weibo

In addition to the heavy injection of mobile phones, NIO also continues to invest in the field of supplementary energy. By the end of 2022, NIO had 1,315 replacement stations; in early 2023, Li Bin put down his big talk and wanted to build another 1,000 replacement stations. According to NIO’s official data, as of October 20, NIO has arranged a total of 1,969 replacement stations, 3,252 charging stations, and 936,544 third-party charging piles.

Industry analyst Yu Shengmei said that the current construction of power stations is fragmented and chaotic, and the industry is expected to enter the fast lane after the establishment of the national standard. Whoever has the first-mover advantage will be able to enjoy the dividends first.

But at present, it is difficult for the NIO power exchange model to rely on itself to make profits in the short term. According to the calculation of Oriental Securities, generally speaking, the power station reaches break-even, and the utilization rate is about 20% or more, that is, each station needs to serve 88 times a day to barely make a loss. According to NIO President Shen Fei, the break-even line of NIO power station is about 50-60 orders a day, and the current average daily order volume of NIO power station is 35-36 orders.

From a product perspective, this is indeed a good story, but so far, this good story has not brought much benefit in business practice.

As early as 2013, Tesla had experimented with replacing power stations in the United States, but was troubled by factors such as construction costs and profitability, and finally chose to give up. Similarly, behind the replacement of power by NIO owners is the reality that NIO "keeps changing power and loses money". Because the cost of adding replacement stations is extremely high, it is a typical asset-heavy business.

The data shows that the cost of the first generation of NIO substation is about 250-3 million, about 205 are established, and the cost of the second generation substation is 1.50 million yuan, and the number is 1100. According to this data, NIO has roughly invested more than 5 billion yuan in the substation.

Since June this year, NIO’s third-generation power station has maintained a construction speed of 120-150 seats per month. If the cost of the second-generation power station is estimated, NIO’s investment in the construction of power stations in 2023 is expected to be more than 1.50 billion yuan.

In addition to power station equipment, battery storage, battery depreciation, etc., it also requires personnel costs, site expenses, and commercial electricity bills. This is equivalent to saying that NIO has invested more than 10 billion yuan in power station replacement.

Moreover, this business, which was originally intended to be blessed by NIO’s "service", has also become a point of complaint for car owners. In April this year, NIO made adjustments to user rights and interests. Since June 1, the number of free power changes for the first owners of some models has been adjusted to 4 times per month. Previously, this right corresponded to 4-6 free power changes per month according to whether charging piles were installed.

According to NIO’s explanation, free power exchanges will gradually decline until they are fully charged on demand. From a business perspective, this is understandable, but at the same time, such adjustments also make NIO, which has always won by "service", more passive.

Auto insurance, mobile phones, and energy supplementation systems are all major projects worth tens of billions of dollars. At present, whether it is just starting auto insurance, mobile phones that have already launched products, or power stations that have invested tens of billions of dollars, they have not brought profits to NIO. Instead, they are likely to become a drag on NIO’s business.

Standing at the moment, the bigger question from the outside world is, what should NIO, which is gradually tearing off the "service" label, use to impress users?

As one of the three giants of the "new car manufacturing forces", NIO’s story is very good, but returning to the essence of business, performance is the basic set. Especially, as the industry competition intensifies, NIO, which has been expanding its own boundaries, and its own performance pressure, may become more and more difficult.

References:

1. Qubit, "Reassessing NIO, It’s Time"

2. International Finance News, "Cars can’t be sold," Loss King "NIO wants to make mobile phones across borders"

3. Finance and Economics Eleven, "While making large losses and investing heavily, what does NIO think?"

4. Shanghai Securities News, "Is NIO going to sell insurance?"

There is such a game, there is no competition, no level, no task, only purely focused on "beauty and enjoyment" itself.

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Don’t think you’re talking about the popular Traveling Frog these days – these comments are two feature games given by professional gamers to the domestic independent team Tag Design: "Mortise and Mortise" and "Folding Fan".

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Unlike those games that emphasize competition, "Mortise and Mortise" and "Folding Fan" are popular science products with the theme of introducing traditional Chinese culture and craftsmanship. Players only need to swipe or click from start to finish, and the operation cannot be simpler. However, players can get a lot of satisfaction: "Mortise and Mortise" and "Folding Fan" provide detailed 3D models for each handicraft for users to watch and split 360 degrees; in simple swiping and clicking, players can learn all the structural characteristics, production process and related history of "Mortise and Mortise" and "Folding Fan"; in "Folding Fan", they can even participate in the 16 steps from choosing bamboo to making a fan.

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"Mortise and tenon" game screen

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"Folding Fan" game screen

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That’s right, "Mortise and Mortise" and "Folding Fan" are both functional games, and they are online game types that have gradually emerged in China since this year. When many people regard online games as "monsters", functional games can often make people "treat each other differently" because they not only make people realize the value of "education and entertainment" again, but also make games play a role in cultural protection, technological innovation and other fields.

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Functional games drive the transformation of the game industry

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If traditional online games emphasize entertainment, then functional games refer to those categories of games whose main purpose is to solve real social and industrial problems. Therefore, if traditional entertainment games and functional games are divided, even if they do not emphasize competition, "Travel Frog" still belongs to the former, while "Mortise and Mortise" and "Folding Fan" belong to the latter.

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Since the beginning of this year, the term "functional game" has begun to enter people’s field of vision, which is not unrelated to a message released by Tencent at the beginning of the year: Tencent announced that it will carry out a comprehensive layout of functional games from 2018, take functional games as one of the business Strategy and Development Direction, and plan to launch five categories of functional game products such as traditional culture, cutting-edge exploration, scientific exercise, scientific popularization, and parent-child interaction. Systematically explore and explore the positive social value of online games.

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In fact, "functional games", which are still a new term in China, have been relatively mature in the international development. Functional games are playing an increasingly important role in different fields. In layman’s terms, functional games can become a new medium for people to receive knowledge and skills through entertaining and entertaining, opening up new perspectives for people in terms of shortening the learning curve, accelerating the dissemination of professional knowledge, innovating scientific research models, improving corporate productivity and solving social problems.

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From the perspective of the international development of functional games, governments, enterprises and institutions in many developed countries and regions have regarded them as important skills training tools: the functional game "US Army" is used by the US Department of Defense for recruitment; "Emergency Commander" is used for drills for emergency disaster relief; "Code Orange" is used to train doctors to deal with mass casualty incidents; "Virtual Training Bank" provides financial analysis and risk management training for banks; functional game "Gabarello" for therapeutic purposes is used by Zurich Children’s Hospital for rehabilitation of brain injury patients….

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Industry insiders believe that with the wide application of functional games, functional games are driving the transformation of the game industry. In the United States, functional games have been in the forefront of the world in various market segments such as corporate training and education since 1994. In the UK, functional games have become a professional discipline and entered institutions of higher learning. In Switzerland, about 30% of game designers are engaged in the field of functional game design.

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Look, these are functional games.

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Compared with the foreign functional game market, the development and promotion of functional games in China is in the ascendant. Many people don’t even know what a "functional game" is. In this regard, the relevant departments of Tencent listed several functional games for reporters to illustrate the rich connotation of functional games:

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In terms of traditional culture and protection, the two functional games "Mortise and Mortise" and "Folding Fan" can make people more intuitively understand the subtlety of traditional skills; and in the function of "education and fun", the ingenious ideas of functional game developers are equally amazing.

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For example, "Moana" developed by the Belgian team Fishing Cactus is an educational functional game that specializes in exercising users’ typing skills. Players will play a little girl riding a fox in the game and go on an adventure in a 2.5D origami world. In different level scenarios such as snow, mountains, forests, etc., players need to use the special method of "typing" to fight monsters and solve puzzles. "Moana" is based on spelling and includes 8 different languages including Chinese, English, and French. The spelling of characters in the game will also be redesigned according to the setting language. Whether you are a typist or a beginner, you can find fun in the game.

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"Moana" game screen

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Also, "Euclidean Geometry" developed by the Russian team Horis is a mathematical game that uses rulers to draw and solve geometric puzzles. In the game, players need to make vertical lines, tangents, angle bisectors, circles and other geometric shapes on the plane through the rational use of drawing tools, and complete the level challenge in rigorous geometric logic. At the same time, players can continuously optimize the design to get the most elegant and concise solution in as few steps as possible. Overall, players can not only appreciate the beauty of geometry in the game, but also improve their logical thinking ability. Therefore, whether students or players who have left school can feel the mystery of geometry in the game.

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"European Geometry" game screen

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Tencent also revealed that in their functional game development plan, including the cooperation of Lego, they will launch functional games related to Lego building blocks through complementary advantages, so that more people, including parents and children, can learn while playing. Such games can not only educate and entertain, but also facilitate parent-child interaction.

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Functional games are a big industry

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In fact, the reason why functional games have developed rapidly in the international market is not unrelated to the economic value they contain. Tencent Research Institute has compiled statistics on more than 130 functional games and found that the combination of education and games is the most extensive, accounting for about 43% of the total, of which more than half of functional game products are used in primary and secondary education; about 19% of functional games are used in enterprises and business; medical functional games are ranked third, accounting for more than 16%. Among them, children’s medical games are the main ones, with content ranging from knowledge popularization to disease treatment. In addition to the above three fields, functional games are also widely used in different fields such as military, culture, and social management, involving all aspects of social life.

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The "cross-border" collection of games and different industries has generated huge economic value. Some institutions predict that games with cross-border applications will develop at a compound annual growth rate of 16.38% between 2015 and 2020, and the market size will reach 5.45 billion US dollars. In contrast, the development and application of functional games in our country is still in its infancy and needs to be vigorously developed.

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It is worth noting that the development of functional games is not only the task or interest of game companies. In recent years, the cross-border development of some enterprises has also further revealed the value of functional games. For example, IBM, Johnson & Johnson, Cisco and other companies have launched their own functional games, not only using them to train employees, but also combining games with their main business. For example, IBM has widely used games in internal businesses such as sales and Customer relationship operations, business information and data analytics; at the same time, in 2010, it first launched the cross-border game "CityOne" (literal translation: a city), which was designed, developed and produced by itself, to find urban planning solutions through role-playing. In addition, IBM has also integrated various new technologies developed by itself, such as process management, cloud computing, and collaboration, into the game, allowing players to learn how to use new technologies to help cities become smarter. After the launch of "CityOne", more than 8,000 people participated in the pre-registration process.

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Industry insiders therefore propose that the development of functional games is worthy of "admiration" from the outside world for the value of online games. For a long time, the domestic game industry has been burdened with huge social pressure, and traditional entertainment games have been controversial. But these views should not affect the development of functional games. In this context, it is necessary to improve the motivation and enthusiasm of industry and academia to develop functional games at the policy level, develop high-quality content, and then drive the whole society to gradually raise awareness of functional games and gradually accept their application in all walks of life.

Preface · Thousands of differences　

An eminent monk, known as Master Kuan Lin, gave Wang Jianlin a verse when he was 92 years old: "When the madness rests, the phantom body melts, and the dust inside and outside is empty. The cave is clear and clear, and there are no obstacles, and there are thousands of differences."

That was in 1997, when Wang Jianlin, his Wanda Group, and his Wanda football team were both thriving.

At this time, Xu Jiayin had just founded Evergrande Group not long ago. Oh, at that time, it could not be called a group. At that time, Evergrande did not know whether tomorrow would be good or bad, and whether the rivers and lakes would be deep or shallow.

Wang Jianlin, who left the football circle, has finally come back. At this time, Evergrande has been the overlord of the Chinese Super League for many years.

In the past 20 years, things have changed, but the phrase "thousands of differences make sense at once" is not outdated – two people, the road they have traveled, thousands of differences, the style of two people, thousands of differences, and the two people entered the era of Chinese football. There were also thousands of differences, but now it is just: the same goal.

　One Genhong Miao is starting at the bottom　

In January 2018, at an internal meeting of Evergrande Group, Xu Jiayin talked about his childhood experience when he mentioned why he wanted "targeted poverty alleviation":

"When I was 1 year and 3 months old, my mother got sick and had no money or place to see a doctor. I just left like this, and I became half an orphan."

"When I was in middle school, I was far from home. I carried a basket to school every week. The basket contained a black nest made of sweet potatoes and sweet potato noodles, and a small bottle with a little salt, a few drops of sesame oil, and a little scallion in it. This is my weekly ration. Three meals a day, one sweet potato, one nest, and a bowl of salt water for each meal. In summer, it is very hot, and the black nest grows hairy in half a day. Wash it and continue to eat."

Xu Jiayin said that in today’s Wumeng Mountain District, he saw the poverty of his childhood. "There is no road, no water, no electricity," and several families live scattered in a few kilometers of ravines. Each household is a dilapidated thatched hut, relying on the little hillside in front of the house and behind the house to eat from the sky.

Wang Jianlin had never tasted such pain. Wang Jianlin joined the army at the age of 15. In 1970, at the age of 15, Wang Jianlin was the youngest soldier in the Fourth Frontier Defense Regiment of the Jilin Provincial Military Region. Before joining the army, Wang Jianlin graduated from high school and spent half a year living in a farm in Cangxi County, Sichuan Province, which is known as the hometown of Sydney.

In November 1970, the whole army carried out "camping training", icy and snowy, along the original route of Linhai Snow Plains where Yang Zirong destroyed mountain sculptures, Wang Jianlin began his first difficult journey in life.

The army gave him special care, not letting him carry a rifle, only giving him a pistol. Despite this, with 10 kilograms of equipment on his back, Wang Jianlin had to walk 40 kilometers on the snowy road every day. This was too hard for a 15-year-old child, but Wang Jianlin did not remember this hard work, but remembered a secret taught to him by the monitor.

During that march, during a meal, the squad leader told him a trick to eat more and be full: don’t pack too much when you pack a meal for the first time, and pack it again after a few bites, and you will be full the second time! With this strange move, Wang Jianlin finally persisted. At the end of the training, only more than 400 people in the team of more than 1,000 people were not left behind, and Wang Jianlin became one of the 40%.

Because of this cleverness and persistence, by the age of 28, Wang Jianlin had become the youngest regiment cadre in the army, but in 1986, in response to the country’s call for "million disarmament", 32-year-old Wang Jianlin bid farewell to his military career and 17 years of military life, leaving a deep imprint on Wang Jianlin.

Later, after Wang Jianlin became a businessperson, he mentioned this experience to his subordinates more than once, and was especially willing to proudly tell the secret that the monitor taught him to eat, "He regarded me as a brother." When Wang Jianlin became the head of the Wanda Group family, he also liked to talk about the word "brother": "My concept of happiness is very simple, and one of them is to let my brothers have food and make money."

As a metaphor, Xu Jiayin is the male version of Ashin in the Japanese drama "The Story of Ashin", while Wang Jianlin’s story is similar to "Days Related to Youth".

But they are all workaholics, and they are not young, but they have not seen any signs of that slack.

In 2000, Wanda quit the football circle. Five years later, in 2005, Wang Jianlin, who got out of the football circle, expanded his business to 20 billion yuan. The former green boss was not satisfied: "I will not be satisfied with 50 billion yuan. Once I achieve 100 billion yuan, I can consider retiring."

But now Wanda Group’s assets exceed 700 billion, and Wang Jianlin’s retirement is still a long way off.

And what about Xu Jiayin? One year, he went to Europe for more than ten days, which he described as the only vacation in so many years. As soon as Evergrande employees joined the company, they knew that overtime was normal and inevitable in this company, because that was what the boss did.

Xu Jiayin rarely takes weekends off, working more than 90 hours a week, and still maintains the habit of working every day until the early morning. Evergrande executives work an average of more than 80 hours a week, and mid-level cadres work an average of more than 60 hours a week. Xu Jiayin, who came from a poor background, attributes his success to hard work. "Without it, I can’t do anything."

When he was in Henan Wuyang Iron and Steel Company, Xu Jiayin didn’t take a day off for ten years. In the first ten years of his business, Xu Jiayin often got off work at one o’clock in the middle of the night. For fear of affecting his family’s rest, he lay on the sofa in the living room until 4 am to go to work.

Compared with Xu Jiayin, Wang Jianlin emphasizes regularity: he must go to bed at 11 o’clock every night, he must get up at 6 o’clock in the morning, he must arrive at the company at 7:10, and then, he will go to work. After going home, he will make a few phone calls. This call is to communicate with several core key members of his team about the situation of the day, and then, after finishing these, he will read the "Evening News", wash and sleep. If the weather is good in the morning, walk, take a walk, and if the weather is bad, it will be avoided.

The work styles of the two are similar, but there are huge differences. Xu Jiayin was born in poverty and worked hard from the bottom step by step. Now he still retains the style of "who called you poor, and you are on the top". What about Wang Jianlin? Wang Jianlin’s father is an old Red Army member of the Red Fourth Front Army. Wang Jianlin joined the army for 17 years and changed his career as a cadre of the Fourth Regiment of the Frontier Defense of the Jilin Provincial Military Region; he has two years of experience as a civil servant as the director of the People’s Government Office of Xigang District, Dalian… All these things make Wang Jianlin seem "well-connected".

From the early experience, Wang Jianlin was a product within the system, while Xu Jiayin had more traces outside the system.

　Second, you hate me for being born late, I hate you for being born early　

Wang Anyi said that for a person, there are always two faces that are hard to forget – the face of his mother and the face of the city, which are the first memories. The era of Wanda football is the age of enlightenment for professional football in China, just as Teresa Teng is to pop and Cui Jian is to rock. Enlightenment things are very different, but one thing remains constant – the world that suddenly opened up in the era of enlightenment, the enthusiasm that was suddenly aroused, like a flood, cannot be stopped.

Therefore, for many football fans, especially those in Dalian, Wanda is a love of enlightenment.

And for many fans, especially Hengda fans, the same is true of Hengda’s role.

Dalian Wanda used to be a winning teacher, and players’ income came more from bonuses. Wang Jianlin’s famous saying was: "If you win the game, the bonus will be doubled!" Wanda sometimes won the prize as high as 800,000, and even reached 1 million in a game, which was a sky-high price at that time.

For veteran players like Xu Hong and Han Wenhai, they can also be assigned to the "welfare housing" built by Wanda Group. After 1997, the Dalian Wanda team spent more than 50 million yuan a year, which is an astonishing figure. From this point of view, it is not an exaggeration to call Wang Jianlin one of the founders of "Jinyuan Football".

Of course, the 50 million yuan spent is also worth it. The year of investing in football is also the era when Dalian Wanda has a solid foundation in Dalian, because Dalian Wanda has won numerous honors for Dalian with this business card, and Dalian Wanda has also been invincible in the Dalian real estate market with this football business card.

For example, the Changchun community where Xu Hong and others lived was once enthusiastically sought after by Dalian people. In addition to the quality of the house itself, the common thought of many people who bought a house was "We live in the same community as Xu Hong"!

Wang Jianlin is a smart businessperson, and his huge investment in football has paid off. In 1998, a well-known research company in Beijing conducted a market survey of Wanda’s popularity in eight cities across the country. The survey subjects ranged in age from 8 to 70. The results showed that Wanda Group’s popularity ranked among the top five in the country, with the same popularity as Hongta Group and Haier Group.

Therefore, Wang Jianlin’s annual investment of more than 50 million yuan may be a "bubble" for football, but it is a perfect investment for his own business.

For Evergrande, investing in football has brought them a similar brand effect, which goes without saying.

If we want to summarize, there are too many similarities between Wanda and Hengda in the glory of football. When Wanda entered football, it was the beginning of Chinese professional football, which was a golden age; after Hengda bottom fishing entered Chinese football, it also ushered in a "new era" of Chinese football.

However, when Wanda was about to enter the lowest point of Chinese football, it took the lead in smelling the smell and decisively withdrew, and now Evergrande is also in the period of adjustment and consolidation after their high speed.

　One branch alone is not spring　

In 2011, Wanda Group announced its return to Chinese football in the "great situation" of Chinese football.

Looking back now, from that day on, the "confrontation" between Wanda and Evergrande began.

On July 2nd, this day, Hengda announced a news, they signed the MVP Conca of the Bundesliga League with a transfer fee of 10 million US dollars, Conca’s annual salary 7 million US dollars, after signing Conca, Hengda high-profile claims, Hengda finally brought world-class stars to Chinese football.

Naturally, the next day in the media, the news of Conca’s joining was overwhelming, and that day, July 3, another major event took place in Chinese football, that is, Wang Jianlin’s Wanda Group returned to Chinese football.

One south and one north, two major events in Chinese football, but what many people don’t know is that the process of signing Kong Card was arduous and tortuous, and the timing of announcing Kong Card’s joining was carefully arranged by Evergrande, because the date they chose was to get ahead of Wanda, no more, no less, just one day.

Evergrande is difficult to tolerate themselves in a lonely period, Hengda will always be in the trend of the wave, if there are competitors, then we must weaken the influence of the opponent, sure enough, if not for the joining of Kong Ka, in those days, football news will become Wanda’s world.

After the end of the Chinese Super League in 2011, the awards ceremony of the Chinese Super League was held in Guangzhou. Guangzhou Evergrande won 5 of the 10 awards including the league championship, the Golden Boot Award, the Golden Globe Award, the Best Division and the Most Social responsibility Club Award, becoming the biggest winner of the night.

However, after the award ceremony, the big winner said with disappointment: "We came out so much for the award ceremony, but we sold Wanda advertising." Because the award ceremony left Wanda enough time, and Wanda sent a spokesperson Shi Xueqing to speak on stage, while Guangzhou Evergrande, the league champion, did not have such treatment.

And that award ceremony was finally broadcast live on the CCTV comprehensive channel!

After returning to Chinese football in 2011 and taking over Dalian Football in 2018, Wanda’s package of plans to support Chinese football includes the following things:

First, Wanda became the title dealer of the Chinese Super League and raised the title fee to a record high; second, Wanda formed the overseas team of Hope Stars and sent a large number of post-95s to Europe; third, this is also the most controversial point, that is, a month before the start of the World Cup 20 in Brazil, Gao Hongbo was forcibly replaced with Camacho.

In retrospect, Wanda did indeed give a lot of support during the trough period after the anti-gambling and anti-crime crackdown in Chinese football, which made the gradually impoverished Chinese Football Association and the Chinese Super League go through the most difficult period. When Wanda ended the sponsorship period in 2014, Chinese football has obviously recovered, and various commercial sponsorships have come in one after another, and they have all improved on the basis of Wanda’s period. These are all irreducible historical contributions.

But the overall weakness of the national brand team makes Wanda’s plans time-consuming and thankless, and in the past seven years, Evergrande has established its own Evergrande dynasty by virtue of its achievements in the Chinese Super League and the AFC Champions League – the Chinese Super League has won seven consecutive championships, and the AFC Champions League has won twice.

Wanda finally understood a truth, only in the local base, Wanda’s every step in Chinese football is not a castle in the air, it will not be pointless, and Hengda arm-wrestling, why not? Why not? After all, the current Dalian side is already an upright Chinese Super League vassal.

It is foreseeable that after Wanda re-enters the foreground, it will bring great shocks to the Chinese Super League, and at this time, Evergrande is precisely in the moment of shrinking the front and adjusting and consolidating.

Xu Jiayin finally met Wang Jianlin in the field of professional football in China. This kind of excitement has been awaited by many fans for a long time.

Time Network News is produced by Cao Baoping, directed and written by Liu Jiayin, starring Hu Ge, starring Wu Lei and Qi Xi, and Bai Ke’s special movie "It’s Worth It", today’s exposure of the sticker trailer and the role poster of Huang Lei, and the official announcement of Huang Lei’s special starring role.

The film tells the story of Wen Shan, an ordinary screenwriter who is "left behind", who accidentally changes to writing eulogies for a living. In his encounters with ordinary people of all kinds, Wen Shan comforts others, gains warmth, and finally finds his own life direction. In the film, Wen Shan, as the person who writes the eulogy, will stage a real and warm human story with multiple groups of clients. Huang Lei’s "Mr. Wang" is one of the clients. His story with Wen Shan will also be the opening story of the film.

In the film, Huang Lei plays one of Wen Shan’s clients, "Mr. Wang," who commissions Wen Shan to write a eulogy because of the death of his father. With a busy career, he is unsmiling and direct, and he is so busy that he is almost inhumane. When he talks about his father, he is even more alienated as an outsider. In this story, Wen Shan hides the regrets of his relatives’ life in the text, hoping to give Mr. Wang compensation and comfort.

China Fund News reporter Guo Yujun

How long does it take for small and medium-sized enterprises to apply for bank loans? How much can I get? The answer of Shenzhen Yuanxing Technology Co., Ltd. (Yuanxing Technology) is-"in a few seconds, 5 million".

As a specialized and innovative small and medium-sized enterprise in Shenzhen, Yuanxing Technology is one of many small and medium-sized enterprises served by Weizhong Bank.

The shortage of collateral, difficulty in obtaining effective information and high cost for small and medium-sized enterprises are the main blocking points that restrict financial institutions from providing financing services for them. How did Weizhong Bank do it?

"Shenzhen Scheme" of Credit Service Entity Economy

Promote financing of over 120 billion yuan.

It is understood that in order to solve the problem of information asymmetry and solve the problem of difficult and expensive financing for small and medium-sized enterprises, on January 10, 2022, with the strong support of the head office of the People’s Bank of China and the Shenzhen Municipal Party Committee and Municipal Government, Shenzhen Credit Information Bureau completed the filing of enterprise credit information agencies and officially operated it. Weizhong Bank is one of the first deep cooperative banks in Shenzhen Credit Information.

Shenzhen Credit Information Co., Ltd. provides risk control decision support for different banks’ risk preferences by jointly building innovative laboratories with banks or providing customized services, effectively promoting bank customer identification and credit supply, and achieving "second-to-second loans and instant loans". At present, it has carried out in-depth cooperation with four banks, including China Construction Bank, Bank of China, Bank of Ningbo and Weizhong Bank, and jointly built an innovation laboratory with China Construction Bank, and launched 12 customized service products.

It is an important measure for the People’s Bank of China to implement financial support for small and medium-sized enterprises and serve the development of the real economy by building a local credit reporting platform, filing enterprise credit reporting institutions, collecting and sharing enterprise-related credit data of government departments and public institutions according to law, and cleaning and processing them according to credit reporting business rules, so as to stably export products that meet the requirements of financial institutions.

According to the data released by Shenzhen Central Sub-branch of the People’s Bank of China, by the end of May 2023, the platform had collected and shared 1.13 billion pieces of enterprise-related credit data from 37 government departments and public institutions, achieved full coverage of more than 4 million active commercial entities in Shenzhen, and completed technical and business docking with 51 commercial banks in the city, serving more than 210,000 enterprises in total, which helped enterprises obtain financing of 120.5 billion yuan, of which small and micro enterprises accounted for 87% and credit loans accounted for 87%.

The construction of local credit information platform in Shenzhen adheres to the principle of "taking demand as the center" and "being practical, easy to use and sustainable". Practice has proved that it is a feasible and effective "Shenzhen scheme" to alleviate the financing information asymmetry problem of small and medium-sized enterprises.

Technology empowerment bank

"Precision Drip Irrigation" Small and Medium-sized Enterprises

According to reports, since 2022, Weizhong Bank’s artificial intelligence (AI) team and Shenzhen Credit Information Platform have conducted several rounds of in-depth communication and cooperation in privacy computing, federal learning, data products, etc., for example, while ensuring data security and privacy, further explore data value from more dimensions and explore innovative data products that are more in line with business scenarios. Next, the two sides will strengthen cooperation, fully focus on the value of data, release data productivity, provide more convenient services for enterprises to apply for financing, and let inclusive finance "drip irrigation" every small and medium-sized enterprise to help the high-quality development of the real economy.

The reporter learned from Shenzhen Central Sub-branch of the People’s Bank of China that Shenzhen local credit information platform provides customized joint modeling services for "easy loan" loan products, aiming at Bank of Ningbo’s problems such as asymmetric information between banks and enterprises and difficulty in controlling credit risks, combined with Bank of Ningbo’s credit standards, and uses data mining methods such as machine learning and correlation maps to deeply analyze and mine multidimensional data such as business, operation and employment of enterprises, forming quantitative model products, and fully empowering bank risk management and control. One month after its launch, it helped 87 small and micro enterprises to obtain financing of 235 million yuan.

According to Shenzhen Construction Bank, as of May 2023, Shenzhen Construction Bank has introduced eight data products, including enterprise personnel size, enterprise subsidy information report and enterprise concern information report, which have been actually applied to the pre-lending, mid-lending and post-lending links of Shenzhen Construction Bank’s loan products related to small and medium-sized enterprises. By May, 2023, a total of 267,000 data of Shenzhen Credit Information Company had been called, covering more than 164,000 enterprises.

For example, in terms of pre-lending access, in order to judge the real business situation of customers, account managers need to complete due diligence through on-site visits and various government websites, which takes a long time. After introducing the enterprise personnel size analysis and enterprise subsidy information data of Shenzhen Credit Information, Shenzhen Construction Bank, combined with the data sources in the bank, directly judges through the loan product model of Shenzhen Construction Bank, which greatly improves the approval efficiency.

Shenzhen Branch of Bank of Communications is cooperating with the credit information platform to promote the development of data-driven innovative product "high-enterprise loan". The scope of data cooperation includes enterprise social security, provident fund, operational stability and other trend data. By enriching the dimensions of enterprise data, Shenzhen Branch of Bank of Communications can improve its judgment on the continuous operation ability and stability of enterprises. Make use of the rich data dimension of Shenzhen Credit Information, create a highly online "high-enterprise loan", actively grant credit to national high-tech enterprises, and improve the credit coverage of technology enterprises.

"Shenzhen Plan" is far ahead.

Provide reference for the construction of domestic credit information system.

Weizhong Bank is a pure internet online bank, which has the ability to provide online credit services for small and medium-sized enterprises across the country. According to Liang Huan, head of science and technology finance in the enterprise market and innovation business department of Weizhong Bank, all parts of the credit information platform also want to do it. The data of Shenzhen credit information platform is far ahead of the national level, whether it is a data source or a specific application (such as combining with banks to serve small and micro enterprises).

Ceng Gang, deputy director of Shanghai Finance and Development Laboratory, said that the credit information platform, as a carrier of credit information, plays an important role in breaking the "information island" by collecting and sharing the enterprise-related information held by local government departments and public utilities, and connecting with "government, banks and enterprises". Generally speaking, the establishment of local credit information platform is helpful to the formation of the strategic layout of "national+local" and "government+market", which can effectively promote the docking between financial institutions and small and medium-sized enterprises and improve the quality and efficiency of microfinance services.

Ceng Gang pointed out that at present, all localities are actively building credit information platforms, but there are still some problems, such as low level of system development and data mining, high repetition of data content, and difficulty in continuously and effectively collecting data. Many local credit information platforms still aim at increasing the number of data. Comparatively speaking, the data of Shenzhen Credit Information has obvious advantages in information timeliness and data granularity. On the one hand, the platform can timely reflect the changes of corporate, registered capital, registered address and other industrial and commercial information of enterprises, help banks to identify whether enterprises are operating normally or not, and timely identify and control the risks of existing customers. On the other hand, through in-depth analysis and mining of data, the platform can further reveal the hidden depth information of data, which can help banks realize online accurate classification of enterprises, not only reduce manual entry, improve customer experience, but also facilitate the implementation of differentiated risk strategies.

According to Liu Zhen, executive deputy general manager of Shenzhen Credit Information, since the establishment of the platform in 2022, Shenzhen Credit Information has received about 30 local credit information platforms across the country and shared the experience of Shenzhen with them. Liu Zhen said: "We are also actively exploring to build and share systematic data products with some local credit information platforms that started late, including promoting mutual recognition of our superior data standards and conducting more commercial cooperation.

Liu Xinhai, executive deputy director of the Credit Management Committee of the All-China M&A Association, said that as the front window of reform and opening up, the number of small and micro enterprises in Shenzhen Special Economic Zone is not only large, but also more dynamic, and the demand for financing is also more urgent. Making full use of public big data resources and privacy computing, the market demand drives the research and development of alternative data models for credit reporting. Shenzhen actively builds a local credit reporting platform, focusing on scene innovation, which has achieved fruitful results in a short period of time, and gives a successful "Shenzhen Plan", which can provide valuable reference for the construction of domestic credit reporting system.

Editor: Xiao Mo

Audit: Xu Wen

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Original title: "Over 120 billion yuan! Second-level approval, "Shenzhen Plan" is far ahead "

Read the original text

Hugh, known as the "debris flow in the singles world", is a diamond bachelor who will remain unchanged for ten thousand years.

However, Hugh is still a brother. It seems that he has been quiet recently. Suddenly, there is a big movement: he suddenly announced that he would marry his wife and have children, and he was hot in Weibo overnight …

Countless unmarried young women of school age have expressed their love, wasting their time waiting so long. Others inexplicably feel sorry for Eddie Peng Yuyan, saying that he is the worst one who was "pigeon".

But then again, Hugh officially announced that how to arrange the daddy car is also the focus of everyone’s attention. After all, many models now feature the label of "daddy car". What will Hugh choose?

On this matter, I think Hugh can consult his good brother Eddie Peng Yuyan. After all, he has spoken for him. The safety and health issues that new dads are most concerned about are firmly grasped. For example, this car has never said that it is a daddy car, but the attributes of the daddy car are not lacking.

In our cognition, luxury is definitely more than what you can see. The health standard that can be "felt" is also a manifestation of luxury. Protecting the physical and mental health of drivers and passengers is an unremitting pursuit, especially the CLEANZONE? Nordic clean cockpit owned by XC60, which can provide women with full-cycle protection from pregnancy to raising children.

Ensure that pregnant women and children have a healthy and clean breathing environment at all times.

Specifically, the materials are strictly controlled from the source. The interior of the car is made of maternal and child-grade interior materials, and the chrome-plated metal ornaments of the interior are controlled by nickel leakage, which meets the jewelry certification standards. At the same time, all interior materials and textiles in XC60 have to undergo more than 100 kinds of harmful or allergic substances and emission tests, reaching the level that babies can directly contact. In short, harmful substances are never allowed to affect the health of pregnant women and babies in XC60 cars.

We should not only strictly control the materials, but also arrange a professional "nose team" to carry out human flesh inspection on the XC60 car, and carry out odor inspection at a high temperature of 65°C, which is 2.6 times higher than the national standard, so as to avoid the odor generated by the materials in the car at high temperature and affect the health of the passengers.

In addition, XC60 will build the whole cockpit into a green forest, so that the baby sitting in the car can enjoy the "forest breath" and grow up healthily like a Nordic elf. It is reported that XC60′ s car is equipped with air purification technologies such as AAC double-effect enhanced air purification system, which can detect the air quality inside the car at any time, completely isolate the harmful air and harmful particles outside the car, and create a truly healthy and fresh air environment.

Of course, cockpit health protection is only a part of XC60. As the safest car brand, XC60 is also rich in active and passive safety configuration. In terms of active safety, it has the Pilot Assist pilot assistance system, which is known as "the most reliable intelligent driving assistance function". This system has a wide range of application scenarios. Its ACC adaptive cruise control system, fatigue warning system and other functions can effectively help drivers share the pressure and ensure driving safety in many situations, such as commuting in cities, driving with children on weekends, and driving on highways. At the same time, XC60 comes standard with City Safety urban intelligent safety system, which can help drivers avoid most potential dangers in advance through 360 panoramic camera, BLIS blind spot information system and other functions.

In terms of passive safety, XC60 is equally outstanding. First, it has a high-strength cage-type safety body design, and a large proportion of it is made of high-strength boron steel. Together with SIPS side impact protection system and WHIPS head and neck protection system, it can minimize the accident harm in the event of passive collision. At the same time, its intelligent airbag can also determine the inflation degree of the airbag according to the collision strength, so as to avoid the secondary injury to the occupants in the car caused by the airbag ejection.

Always firmly believe that only love and life can live up to, and they always practice the principle of safety first in the process of building cars, and defend the dignity of luxury cars with safety performance. That’s why I said that it is the most standard "daddy car", and the sense of security and luxurious health experience it can bring should be standard for every novice daddy. So, if you are also a dad, or will soon become a novice dad, will you choose to start?