Enjoy Rongcheng intelligently and see the future! On August 25th, 2023 Chengdu International Auto Show kicked off in the West China International Expo City. The "Super Comfortable Medium and Large Electric Car" Star Road Star Era ES made a heavy appearance. The comfortable design with "world-class" super power, platform technology advantages, naturalistic aesthetics and user experience as the first priority provided a full-dimensional "super comfortable" experience for warm and technological middle-class families.

　　The aesthetics of wind stuns the audience and interprets the concept of elegant design of sports.

　　The strength faction also has a high value. At the Chengdu International Auto Show, the first pure electric vehicle of the high-end brand Xingtu New Energy Product Series "Xingjiyuan" of Chery Group, with its unique aesthetic design, made the attendees feel excited.

　　Star Age ES carved the body curve, outlining the slender body lines, with a golden ratio of about 5 meters long, nearly 2 meters wide and a wheelbase of about 3 meters, supplemented by ultra-low body, dynamic slip-back modeling inspired by water droplets in the wind and streamlined waistline design, which is simple without losing the charm of sports. It not only shapes the extremely dynamic back slip shape, but also brings 0.205Cd ultra-low wind resistance comparable to super running.

　　When we look at the front face of the ES in the Star Age, the elegant and beautiful dynamic image of the butterfly is very eye-catching. The front headlights with horizontal penetration and two ISD intelligent interactive lights form a unique front face shape of the butterfly with wind feathers. Inspired by the butterfly’s flapping wings, the wind-language programmable interactive headlight consists of 972 LED lamp beads, which blends lightness and elegance into the unique dynamic shape of ES in the Star Age, perfectly blends the beauty, freedom and tenacious vitality of butterflies with modern scientific and technological elements, sharpening product recognition and conveying brand connotation.

　　Four world-class superpowers, set the benchmark of electric car value.

　　In the tide of technological empowerment, new products have emerged at an unprecedented speed, and the new energy automobile industry has entered the mainstream mass era from the "early adopter era". The automobile consumption market in China has become a world-class market in which global brands compete.

　　Born globally, build world-class product strength. With the blessing of E0X’s global super-comfortable and high-performance electric platform, Star Age ES was guided by world-class product strategy at the beginning of its design, and realized four world-class superpowers of world-class "big space", world-class "true wisdom", world-class "super comfort" and world-class "low energy consumption", which brought subversive driving changes to the whole automobile industry and helped users experience a beautiful and comfortable car life with the ultimate product power.

　　Mobile life, tolerance is the first. Xingyue ES has a world-class "big space", and the front and rear rows of shoulders, legs and head spaces are better than their peers. The "room rate" is as high as 70.2%, allowing users to enjoy the whole journey.

　　Comfortable life, from the outside to the inside. Star Age ES creates a world-class "super comfort", and the whole system comes standard with air suspension +CDC, front double wishbone+rear five-bar linkage, turning bumps into smooth roads; The lowest wind resistance of 0.205Cd in the same class, combing the airflow to reduce wind noise and bring a quieter driving experience; The minimum turning diameter of 11.4m makes driving smoother and calmer.

　　"Superpower" should not be shackled by distance. Star Age ES redefines the power consumption standard with world-class "low energy consumption" and expands the travel boundary of pure electric vehicles. As the first China brand car to mass-produce 800V high-voltage platform, the power consumption per 100 kilometers of the Star Era ES is as low as 11.7kWh, and it can last 150km after charging for 5 minutes, and it can be recharged by 30% to 80% in 15 minutes, with a long battery life of 720km, with low energy consumption, fast charging and long running distance.

　　At the moment when major brands are competing for IQ, Star Age ES has defined world-class "true wisdom" and jointly built a "big model model" in the automobile industry with Iflytek, which relies on 512.
TOPS’s super computing platform, supplemented by higher perception hardware, leads the new wave of automobile intelligence development.

　　Five good cockpit wisdom blessings to promote the all-dimensional advancement of travel space.

　　"True wisdom" is not only easy to travel, but also physical and mental pleasure is more attractive. While providing worry-free, labor-saving and time-saving "three provinces" intelligent driving, Star Age ES has created a "five good" intelligent cockpit, which integrates good-looking, easy-to-use, good-listening and good-smelling, creating sensory surprises in multiple dimensions and making users always "like it".

　　Star Age ES adopts an integrated embracing cockpit design to provide a more immersive, spacious and comfortable ride experience. The central control panel is an intelligent central control panel with 2.5K high color gamut, high saturation and high screen ratio, with a size of 15.6 inches. It is equipped with a brand-new, simple and scene-based HMI design, with clear picture, convenient operation and better visual experience.

　　Thanks to 8155′ s powerful software and hardware platform, Star Age ES has carried out in-depth excavation in the dimensions of science and technology, entertainment, intelligent interaction, intelligent service, and full-scene collaboration. Based on scene development, it has maximized the user experience and made the cockpit know you, understand you and be more "easy to use".

　　Up to now, cars are not only a simple means of transportation, but also an important part of life, and the importance of quality and health is increasingly prominent.

　　Star Age ES carries Lion.
Melody sound system, equipped with 23 speakers, the peak power of the sound system can reach 1000W, supporting panoramic sound effects, creating a vast 3D surround sound field space and immersive feeling, as if moving the concert hall into the car; The main driver’s headrest speaker can realize the use experience of three different application scenarios, such as full car mode, driving mode and private mode, so that the owner can only listen to the "nice" sound.

　　In order to let drivers and passengers take a deep breath in the car, Xingjiyuan ES uses AQS air quality management system, CN95 air filter and negative ion generator to realize intelligent air purification and build a healthy cockpit for 6A. At the same time, the intelligent fragrance easily dispels the odor, making the car fragrant all the time, creating a safe, comfortable, fresh and more "good-smelling" driving space. In addition, depending on the needs of users for rest and watching movies, the cockpit can be associated with the scene mode, and the nap mode, wake-up mode and cinema mode can be turned on intelligently, such as the intimate life assistant taking care of everything properly.

　　In Jinguan City, the youth is splendid. Landing at the Star Age ES of Chengdu International Auto Show will surpass the expected "super-comfortable" image and bring a full-dimensional super-comfortable experience to warm and high-tech middle-class families. This appearance at Chengdu International Auto Show is also a preview of its official entry into consumer life. In the fourth quarter of this year, Star Age ES will be listed soon. At that time, more users will start from Star Age ES and open the door to "super comfortable" travel life.

??? What should I eat at night without gaining weight? The food I eat before going to bed should be carefully selected. First, the calories should not be too high, which will not cause weight gain. Second, it is best to choose foods that can promote sleep and improve sleep quality. The military doctor recommended the following 20 foods. If you are hungry before going to bed, you can eat them properly.

????Green fruit and vegetable juice

????Sometimes you feel hungry is not really hungry, but because your cells are dehydrated and your brain is misled to send out wrong signals. Drinking a glass of natural green fruit and vegetable juice can not only replenish water in time, but also effectively solve hunger. At the same time, it can slowly release fructose, which has the effect of relaxing nerves and promoting sleep. Green apples, carrots, celery, green grapes, cucumbers, asparagus, cabbage, etc. are all good ingredients for making green fruit and vegetable juice. Cut them into small pieces, add some milk, honey and a little ice cubes, and then smash them with a blender to drink.

????Probiotic yogurt

????Don’t think that eating dairy products before going to bed will make you fat! Yogurt is rich in probiotics, which can keep fat accumulation, promote fat decomposition, and have unexpected slimming effects, especially to help remove lower body fat. Moreover, probiotics can also regulate the balance of intestinal flora, eliminate spoilage bacteria, promote toxin excretion, improve intestinal immunity, and play a detoxification and beauty effect. If you don’t need to stay up late, it is also recommended that you add some fruits to make fresh fruit yogurt with sleep effect. Bananas, papayas, kiwis, tomatoes, etc. are all fruits with sleep function. Cut them into cubes and mix them into yogurt. You can also sprinkle 8 American almonds.

????oat

????Oats, like potatoes, help clear your gut of sleep-disrupting acids and relax your nerves for a gentle sleep. First, oats prompt your body to release an insulin that helps tryptophan reach the brain, where it is converted into serotonin, telling the brain "it’s time for bed." Second, oats release glucose at a constant rate during sleep, maintaining blood sugar balance and preventing nightmares while you sleep, as studies have found that nearly 40% of nightmares are triggered by low blood sugar. Boil a small bowl of oats and add a little honey to taste for a delicious and healthy midnight snack

????Coarse grain pumpkin porridge

????Traditional Chinese medicine believes that pumpkin is warm in nature, can moisturize the lungs and nourish qi, is a wonderful product for nourishing blood, and has a special cosmetic effect on women. Therefore, Zhang Zhidong, a famous minister in the Qing Dynasty, suggested that Empress Dowager Cixi use pumpkin for supper to keep young and beautiful.

????grape

????Grapes, grape juice and wine contain a kind of resveratrol, which is a natural substance that can lower cholesterol. Animal experiments have also proved that it can lower cholesterol and inhibit platelet aggregation, so it is one of the best foods for patients with hyperlipidemia.

????Organic tomatoes

????If you can’t keep your mouth shut and eat super, then tomatoes are your night savior. Rich in dietary fiber (which helps probiotics grow in the intestines) and pectin, tomatoes can fill your stomach and stimulate the brain’s satiety center, while also removing acidic metabolic waste from the intestines, helping you complete intestinal detoxification during sleep. In addition, the unique lycopene in tomatoes has powerful antioxidant properties, which can fight off excess free radicals and help the skin fight aging.

????brown bread

????White bread isn’t healthy. Whole wheat bread doesn’t taste good. Try brown bread. It’s made with wheat gluten. Even if you’re picky about food, you won’t dislike the taste and texture. It’s also rich in anti-inflammatory factors and dietary fiber. It also clears your gut of sleep-disrupting acids and benefits the growth of probiotics in your gut. Make a simple, thin sandwich with black bread and cucumber. It’s healthy and delicious.

????corn

????Corn is rich in calcium, phosphorus, selenium, lecithin, vitamin E, etc., all of which have the effect of lowering serum cholesterol. Indians have almost no hypertension and coronary heart disease, which is mainly due to their staple food of corn.

????potato

????Potatoes are considered the most nutritious natural slimming food, which is neither fat nor cholesterol, and has very low calories (only 21% of the same weight of rice). They are also very rich in soft dietary fiber, which can bring a high sense of fullness (3 times that of white bread of the same volume, and 6 times that of rice of the same weight). Eating some potatoes before bed will not only not cause weight gain, but also make you sleep more sweetly, because potatoes are rich in alkaline compounds. As for the cooking method, nutrition experts recommend that you steam, boil or mash potatoes.

????pasta

????Pasta itself, made from wheat, is a low-calorie, healthy dish, with the high-calorie portion only in the sauce. So as long as you make a low-calorie, healthy sauce, pasta becomes a non-fattening delicacy. Food experts have the secret to making low-calorie pasta sauce, which is to dice carrots, soybean sprouts and tomatoes, add some rain dew soy sauce and olive oil and stir well. You can also add some white-boiled chicken breast minced meat on this basis.

????chives

????In addition to calcium, phosphorus, iron, sugar and protein, vitamins A and C, chives also contain carotene and a lot of fiber, which can enhance gastrointestinal peristalsis, have a good laxative effect, and can eliminate excessive nutrients in the intestines, including excess fat.

????garlic

????Garlic is a mixture of sulfur-containing compounds that reduce blood cholesterol and prevent blood clots, helping to increase HDL.

????shiitake mushroom

????Shiitake mushrooms can significantly reduce serum cholesterol, triglycerides and low-density lipoprotein levels, and regular consumption can increase the relative increase of high-density lipoprotein in the body.

????mashed soybeans

????Soybean mash is actually the leftover bean residue after beating soy milk, which is a good ingredient that must not be wasted. It has multiple functions of sleeping, slimming and detoxification. It is rich in phytoestrogens like soy milk, which can make you feel relaxed; it is also rich in oligosaccharides, which can promote the growth of probiotics in the intestines, regulate the metabolism of fat and cholesterol, reduce the accumulation of acidic metabolic waste in the body, and help the intestines detoxify; it is also rich in minerals calcium, soy protein and soy fiber, which are catalysts for body fat burning.

????American Almond

????Many nutrition experts recommend American almonds as a night snack, not only because it is easy to eat and has obvious satiety, but also because the cell wall structure in American almonds blocks the body’s absorption of fat, which can prevent you from gaining weight. In addition, American almonds are also rich in tryptophan, which can calm nerves, and magnesium, a mineral that relaxes muscles, which can help you improve sleep quality. If you want to make the taste richer, you can also make "almonds + raw peanuts + raisins" into mixed nuts to eat.

????apple

????Apples have a very good lipid-lowering effect because they are rich in pectin, fiber and vitamin C. If you eat two apples a day for a month, most people’s blood LDL cholesterol (which is bad for the heart) will be reduced, and the blood HDL cholesterol, which is good for the heart, will be increased. Experiments have shown that about 80% of patients with hyperlipidemia have lower cholesterol levels.

????carrot

????Carrots are rich in calcium pectinate, which is excreted from the stool after working with bile acids. To produce bile acids, the body must use cholesterol in the blood, which in turn prompts the level of cholesterol in the blood to decrease.

????onion

????Onions contain prostaglandin A, which has the function of dilating blood vessels and lowering blood pressure. It also contains dilute propyl trisulfide compounds and a small amount of sulfur amino acids, which can prevent arteriosclerosis in addition to lowering blood lipids.

????Winter melon

????Eating winter melon regularly can remove excess body fat and help you lose weight.

????Kelp

????Kelp is rich in taurine. Food fiber alginic acid can reduce blood lipids and cholesterol in bile. (202nd Hospital of the People’s Liberation Army)

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

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

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

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

Couple

Liu Qingyun

　　　 September 6, 2011 news, Hong Kong, Andy Lau and Liu Qingyun starred in the film and this year’s Venice Film Festival competition together, and the two set off for the local film festival on the evening of the 4th. The new films starred by Andy Lau and Liu Qingyun were both shortlisted for the competition of this Venice Film Festival, and they were more optimistic about each other’s chances of winning prizes.

　　　 Andy Lau, the best actor, showed up at the airport at about 10 pm on the 4th and went to the Venice Film Festival, where he received dozens of fans to drop off the plane and send small gifts. "Sister Peach" starring Andy Lau and "Death Gold" starring Liu Qingyun were shortlisted for the competition of the Venice Film Festival, which means that they have a chance to win the title of best actor. When asked about Andy Lau’s mood to play, he smiled and said that he was not nervous. After staying for a few days, he returned to Hong Kong to continue his work. He should not have time to go shopping. He is confident about winning the award. "I hope there is a chance. (Will you be worried that the length of the film will be cut too much?) Usually it is like this. Normally, the film length of" Sister Peach "is less than 2 hours. (The opponent Qingyun is optimistic about you?) Two Hong Kong films were shortlisted.

　　　 As soon as he arrived in Venice, Andy Lau attended the official press conference of "Sister Tao" with the director and director. Last year, Andy Lau, who visited Venice and won a large number of autographs from fans, coquettishly shouted to the film festival chairperson: "I am back!".

　　　 When asked why he took on the film, Andy Lau laughed and said that he had spent a lot of money to take on the film! After filming, he also felt that he encountered many different things, and he cared more about the people around him. He felt that simple things were more important than anything else. When the reporter heard Andy Lau say this, the audience clapped. It is known that after many critics have seen "Sister Tao", it is tentatively determined that it is the highest-rated film in the competition.

There is a final version of "Death Gold"

　　　 In addition, Liu Qingyun also set off for Italy with his wife Guo Aiming on the evening of the 4th. It turned out that they had to visit Rome for two days before flying to Venice. Asked if Qingyun knew the external reaction of "Death"? He said: "I don’t know, I just watched the dubbed version, and I knew there would be a final edited version. (Will you be worried that the length of the film will be cut, so that foreign audiences will not see it comprehensively?) Everyone is watching the subtitles, and only the subtitles are more detailed." Qingyun was optimistic that Andy Lau would win the prize, but he did not think about winning the prize.

　　　 In addition, she said that it was not intentional for the Venice Film Festival to go off the red carpet, and also pointed out that the characters played in the films with whom she worked could not see the acting skills and could not learn the nonsense of Xingye. When Qin Hailu promoted her participation in the film "Sister Tao", she said that she attended the Venice Film Festival 10 years ago, and now she has returned to the old place, which makes her feel like looking back on her 10-year film journey. She revealed that her next goal is to be a producer.

　　　 As for the director, it was reported by Hollywood as China’s CGI feast, due to the coexistence of martial arts movements and stunts, and it is one of the top 10 films in the film festival.

Next page More wonderful pictures

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.

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

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

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

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

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

　　Key words [concept]

　　"Entrepreneurs are city partners"

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

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

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

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

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

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

　　Key words [pattern]

　　Deep integration of industry and city empowers enterprise development

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

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

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

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

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

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

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

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

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

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

　　Key words [innovation]

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

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

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

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

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

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

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

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

　　Key word [quality]

　　Optimize urban functions and enhance public service security

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

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

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

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

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

[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 > > >

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

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?"