On June 8, Beijing time, the first nine satellites built by Geely Holding Group for future travel were launched earlier this month. Geely’s Zhejiang Space-Time Daodaoyu Technology Co., Ltd. is responsible for the development of these satellites, and its CEO Wang Yang said that compared with Elon Musk’s plans for SpaceX, the company’s ambitions are much more modest.

The nine satellites were launched into orbit on June 2 aboard a Long March 2C rocket, making SpaceX one of the first Chinese companies to begin assembling a constellation of satellites pioneered by SpaceX, which already has more than 2,000 satellites in orbit.

"We all have a background in car manufacturing, and we all want aerospace technology and satellites to give back to car manufacturing and travel," Mr. Wang said in an interview on Tuesday. "The difference is our goal of making satellites."

SpaceX is putting its Starlink satellites into orbit to build a constellation of internet services as a low-cost alternative to long-range land-based systems that are vulnerable to interference. SpaceX also launches rockets for global satellite operators, the US military and NASA.

In contrast, Spacetime Daoyu’s ambitions are more modest. Wang Yang said that Spacetime Daoyu expects to have 72 satellites by the end of 2025 and 168 satellites by the end of the decade.

"While we want to provide the ultimate travel experience for our users, SpaceX is more focused on low-latency broadband and providing high-speed broadband access to 7 billion people around the world," Mr. Wang said.

Space-Time Daoyu is following in the footsteps of Chinese rival Galaxy Aerospace, which in March put six satellites into orbit. The satellites weigh an average of 190 kilograms and are China’s first projects to develop constellations in low-Earth orbit.

"Compared to Starlink, China’s constellation is small," Global Times said in a report on the launch, adding that China "will step up efforts to promote the application and transfer of space technology in the next five years".

Wang Yang said that Spacetime Daoyu plans to do its part to open up the network to other brands, and more information will be announced within three months.

"Geely’s future partners will not be limited to Geely’s ecosystem and car brands," he said. "We are also building partnerships with other industries."

General Office of Beijing Municipal People’s Government
About deepening reform and promoting the taxi industry
Implementation Opinions for Healthy Development

District people’s governments, municipal government committees, offices, and bureaus,Municipal institutions:

In order to fully implement the "Guiding Opinions of the General Office of the State Council on Deepening Reform and Promoting the Healthy Development of the Taxi Industry" (Guoban Fa [2016] No. 58), actively and steadily promote the reform of the taxi industry in this city, and better meet the diverse travel needs of the people, with the consent of the municipal government, the following implementation opinions are hereby proposed.

Guiding ideology and work objectives

(1) Guiding ideology.

Deeply implement the spirit of the 18th National Congress of the Communist Party of China and the Second, Third, Fourth, Fifth and Sixth Plenary Sessions of the 18th Central Committee of the Communist Party of China, thoroughly study and implement the spirit of the series of important speeches of the General Secretary of the Supreme Leader and the important instructions to Beijing, earnestly implement the decisions and arrangements of the Party Central Committee and the State Council, firmly establish the development concept of innovation, coordination, green, openness and sharing, adhere to the basic idea of giving priority to the development of public transportation and the appropriate development of taxis, in accordance with the principle of "passenger-oriented, reform and innovation, overall consideration and standardization in accordance with the law", actively and steadily promote the reform of the taxi industry in this city, effectively improve the service level and supervision capacity, and strive to build a diversified and differentiated travel service system to better

(2) Work objectives.

Promote the integrated development of cruise taxis (hereinafter referred to as cruise cars) and online rental cars (hereinafter referred to as online taxi-hailing), promote the transformation and upgrading of cruise cars, standardize the operation of online taxi-hailing, improve the management and service level of the industry, promote the sustainable and healthy development of the industry, and provide the public with safe, convenient, comfortable and economical personalized travel services.

Second, clarify the positioning of the taxi industry

(3) Scientific positioning of taxi services. Taxi is an integral part of the urban comprehensive transportation system, a supplement to urban public transportation, and provides personalized transportation services for the public. Taxi services mainly include cruises, online reservations, and other methods. The city will continue to give priority to the development of public transportation, develop taxis moderately, optimize the urban transportation structure, and build a super-large urban passenger transportation pattern with diverse and differentiated services.

(4) Establish a dynamic regulation and control mechanism for the total amount. Implement the strategic positioning of the capital city, comprehensively consider the city’s population, economic development level, air quality, urban traffic congestion, public transportation development level, taxi mileage utilization rate and other factors, rationally grasp the scale of taxi transportation capacity and its share in the urban comprehensive transportation system, and establish a dynamic monitoring and adjustment mechanism. Carry out a scale assessment of the total number of taxis, and prepare a development plan and implementation plan for the taxi industry, which will be implemented after approval by the municipal government.

III. Deepening the reform of cruise vehicles

(5) Reform the management system of operating rights. Adhere to the implementation of the free use of vehicle operating rights, and the term of the operating rights of cruise vehicles is the same as the period of vehicle scrapping. The new operating rights of cruise vehicles shall be subject to period restrictions, and the operating entity shall not be changed without authorization. If the operating rights of existing cruise vehicles do not specify the specific operating period, all factors shall be comprehensively considered, a transition plan shall be scientifically formulated, and the operating period shall be reasonably determined. Establish and improve the allocation and management system of operating rights guided by service quality and reputation. If the operating rights expire or there are major service quality problems, major safety production liability accidents, serious illegal business activities, and unqualified service quality and reputation assessments during the operation process, the operating rights shall be recovered in accordance with relevant regulations.

(6) Perfect the benefit distribution system. Cruise car operators shall sign employment contracts and contracts with drivers in accordance with the law to build a harmonious labor relationship. Encourage, support and guide cruise car operating enterprises, industry associations, cruise car drivers and trade union organizations to negotiate on an equal footing to determine the contract fee standard or quota task, and dynamically adjust it according to factors such as operating conditions, cost and freight changes. If the existing contract fee standard or quota task is too high, it should be reduced. Taxi car industry associations shall organize and guide cruise car operating enterprises to actively explore the use of Internet technology to build a business model in which enterprises and drivers share operational risks and distribute interests reasonably.

(7) Straighten out the price formation mechanism. Cruise vehicle freight rates are subject to government-guided prices. It is necessary to comprehensively consider factors such as the operating costs of cruise vehicles, the income level of drivers, and the overall development of urban transportation. Continuously improve the formation mechanism of cruise vehicle freight rates and the linkage mechanism between freight rates and fuel prices. Improve pricing rules, scientifically formulate and timely adjust the level and structure of cruise vehicle freight rates, and give full play to the leverage of freight rates to adjust the supply and demand relationship in the taxi transportation market.

(8) Encourage companies to operate on a large scale. Study and formulate supporting policies to encourage cruise car operators to integrate resources through mergers, reorganizations, and other means, implement intensive and large-scale operations, give full play to their backbone leading role, and improve industry management and service levels. Measures for the implementation of the transfer, transfer, and share purchase of cruise car operators’ vehicle operating rights shall be formulated in accordance with the law. Individual industrial and commercial households of cruise cars shall be encouraged to jointly establish companies of a certain scale or join existing cruise car operating enterprises by means of shares, etc., implement organized management, improve service quality, reduce management costs, and enhance anti-risk capabilities. Encourage cruise car operating enterprises to take passenger needs as the guide, continue to increase the intensity of driver training, take the initiative to disclose service standards and service quality commitments, and actively carry out safety, integrity, and quality service creation activities; strengthen the main responsibility of cruise car operating enterprises, vigorously promote enterprise branding, and effectively improve the level of management services. Improve the assessment and evaluation system for cruise car operating enterprises, improve the content and methods of assessment, regularly publish the assessment results and evaluation, and establish an incentive and restraint mechanism that conforms to the characteristics of cruise car operation.

(9) Promote the transformation and upgrading of the industry. Encourage cruise car operators and online ride-hailing platform companies to adopt mergers, restructurings, and absorbing shares to achieve the integrated development of new and old business models. Revise the technical specifications of cruise cars and improve vehicle technical standards. Encourage cruise car operators to follow the idea of "Internet + taxi", make full use of Internet information technology and the advantages of existing vehicles and personnel, and transform to provide online ride-hailing services. Encourage cruise cars to provide operation services through telecommunications, Internet and other e-hailing services, and promote the use of non-cash payment methods that meet financial standards to facilitate public rides, reduce empty vehicles, and reduce the labor intensity of drivers. When cruise cars provide operation services, they must use the special metering device for cruise cars, and charge fees and issue special invoices for taxis in this city accordingly. Encourage the development of new energy cruise vehicles.

IV. Standardizing the development of online car-hailing

(10) Regulate the development of online car-hailing. Online car-hailing platform companies, as well as enterprises that provide vehicles, drivers who provide online car-hailing services, and their vehicles, shall comply with relevant national and municipal regulations and requirements. Online car-hailing platform companies are providers of transportation services, and shall have online and offline service capabilities. They shall have corresponding office space and driver education and training places in this city. They shall also connect relevant basic information and dynamic operation data to the supervision platform of relevant departments in this city in real time, so as to realize the backup of data information in this city. Online car-hailing platform companies implement restrictions on the operating period. The operating period is 4 years. The expiration can be extended after passing the review. The online car-hailing platform company shall assume the responsibility of the carrier, the responsibility of production safety and corporate social responsibility in accordance with the law, undertake the safety management responsibilities of vehicles and drivers, purchase relevant insurance to fulfill the responsibility of the carrier, and ensure the safety of operation and the legitimate rights and interests of passengers. Encourage online car-hailing platform companies to use their own vehicles to carry out business activities.

Online car-hailing vehicles should meet the basic conditions for providing passenger transportation services, have passed the annual inspection by the public security department of this city, have purchased commercial vehicle compulsory traffic insurance, third-party liability insurance and passenger accident injury insurance, and have the city’s vehicle number plate. 5-seat sedan or 7-seat passenger car. Non-operating vehicles of government agencies, enterprises, institutions and social organizations are not allowed to engage in online car-hailing operations. Online car-hailing qualifications are applied by online car-hailing platform companies. When a vehicle applies for online car-hailing qualifications, it must meet the latest motor vehicle emission standards announced and implemented by this city, have no unfinished traffic accidents and traffic violations records, and meet the technical specifications of online car-hailing vehicles in this city. Vehicles that have obtained online car-hailing qualifications must have a special logo posted on the body of the online car-hailing vehicle, and use the original number plate. The term of the vehicle operation right shall not exceed 8 years from the date of vehicle registration (or when the mileage reaches 600,000 kilometers), and the vehicle operation right shall not be transferred without authorization. If the vehicle is scrapped, transferred or the ownership is transferred without authorization, the vehicle operation right shall be cancelled. If the access relationship between the platform and the vehicle is terminated or the operation period of the platform company is terminated, the vehicle shall not engage in online car-hailing operations during the period of not accessing the new platform.

Online car-hailing drivers must be registered with the city, have obtained a driving license issued by the city, have not reached the legal retirement age, are in good health, have not committed more than 5 road traffic safety violations in driving a motor vehicle within 1 year before the date of application, and have not been included in the taxi serious violation information database. Individuals and vehicles under their names who apply for access to the online car-hailing platform must obtain the qualifications of online car-hailing drivers and vehicles, and have no other cruise cars and online car-hailing cars under their names, and drive their own vehicles to provide online car-hailing services.

(11) Regulate the business behavior of online car-hailing. Online car-hailing platform companies should safeguard and protect the legitimate rights and interests of drivers, maintain the stability of the driver team, and sign employment contracts or agreements with their subordinate drivers according to law. If an agreement is signed, they should purchase personal accident insurance for them; it is necessary to strengthen the production and operation management of service vehicles and drivers, and continuously improve the passenger’s satisfaction with the ride experience. Online car-hailing provides operation services through online booking, and it is not allowed to cruise around to pick up customers or queue up at cruise car dispatching stations to pick up customers. Reasonably determine the metering method of online car-hailing, and there must be no improper price behavior. Online car-hailing platform companies shall strengthen cyber security and information security protection, establish and improve data security management systems, collect, use and protect personal information in compliance with the law, and shall not disclose sensitive information involving national security. The personal information collected and the business data generated shall be stored and used in the Chinese mainland, and the retention period shall not be less than 2 years. Online car-hailing platform companies and drivers shall declare and pay taxes to the tax department in accordance with the law. After providing operation services, online car-hailing vehicles shall issue special invoices for taxis in this city.

V. Regulate private passenger car sharing

(12) Encourage private passenger car sharing. Private passenger car sharing (also known as carpooling and ride-sharing) is a shared travel mode in which the ride-sharing service provider publishes travel information in advance, and people with the same travel route choose to take the ride-sharing service provider’s passenger car, share the travel cost (fuel and tolls) of the ride-sharing part, or free mutual assistance. Private passenger car sharing is conducive to alleviating traffic congestion and reducing air pollution, and this city will encourage and regulate its development. The city’s guidance on private passenger car sharing travel shall be formulated and issued separately by the municipal transportation administrative department in conjunction with relevant municipal departments.

(13) Regulate private passenger car ride-sharing. The ride-sharing information service platform providing ride-sharing travel services must comply with the relevant regulations of the state and this city. The connected vehicles must be the city’s number plate, and the number of orders per car per day shall not exceed 2 times. It is forbidden for any enterprise or individual to carry out illegal operations in the name of ride-sharing. Those who charge significantly higher than the ride-sharing billing standard, provide ride-sharing services more than the specified number of times, and provide online car-hailing business services in the name of private passenger car-sharing shall be punished in accordance with the relevant laws, regulations and rules of the state and this city for illegal passenger transportation.

Create a good market environment

(14) Improve service facilities. Further increase the planning and construction of comprehensive taxi service areas, dispatching stations, recruitment stations, waiting parking spaces, charging infrastructure and other service facilities. It is necessary to set up cruise bus dispatching stations or waiting areas in large public places and large residential areas such as airports, railway stations, public transportation hubs, commercial areas, hotels, hospitals, etc., and scientifically guide taxi operations to provide convenient services for passengers’ daily travel, especially in special circumstances such as bad weather.

(15) Strengthen the construction of the credit system. It is necessary to implement the service quality credit assessment system and the driver qualification management system, formulate taxi service standards, credit management system for operators and employees, and clarify the basic requirements for operating in accordance with the law and providing honest services. Actively use the Internet, big data, cloud computing and other technologies to establish an evaluation system for taxi operators and drivers, and strengthen the records of information such as violations and dishonesty, complaints and reports, and passenger service evaluation. As an important basis for taxi operators and employees to enter and exit, and incorporate it into the city’s credit information sharing platform and enterprise credit information publicity system. Taxi industry associations should continue to improve industry self-discipline, smooth communication channels between drivers and enterprises, take the initiative to commit to service standards to the society, and promote the improvement of industry service capabilities and integrity levels.

(16) Strengthen market supervision. It is necessary to innovate supervision methods, simplify licensing procedures, strengthen the use of information technology means, and promote online processing to further improve the transparency of the management of the taxi industry. Establish a joint supervision and law enforcement mechanism and a joint punishment and exit mechanism for the participation and linkage of the Municipal Transportation Commission, the Municipal Development and Reform Commission, the Municipal Public Security Bureau, the Municipal Human Resources and Social Security Bureau, the Municipal Environmental Protection Bureau, the Municipal Commission of Commerce, the Municipal Bureau of Industry and Commerce, the Municipal State Taxation Bureau, the Municipal Local Taxation Bureau, the Municipal Quality Supervision Bureau, the Municipal Communications Administration, the People’s Bank of China Business Management Department, the Municipal Network Information Office, and the Municipal Urban Management Law Enforcement Bureau. Establish an integrated information sharing platform, strengthen real-time supervision of law enforcement throughout the process, investigate and punish acts that hinder fair competition in the market and various price violations in accordance with the law, and severely crack down on illegal operations, gathering crowds to disrupt social order, or inciting organizations to disrupt operational order and damage public interests. Regularly carry out taxi service quality assessments and release them Handle complaints about service quality issues in a timely manner, promptly expose serious violations of laws and regulations, and protect the interests of passengers.

(17) Strengthen the legal system and organizational guarantee. Accelerate the revision of laws and regulations such as the Regulations on the Administration of Taxi Vehicles in Beijing to provide better legal guarantee for deepening reform and promoting the healthy development of the taxi industry. Strengthen organizational leadership, establish a leading group for deepening the reform of taxis in this city, and be responsible for coordinating and promoting various reform work. Strengthen social communication, smooth the channels for interest appeals, take the initiative to disclose information, respond to social concerns, build consensus on reform, and create a good public opinion environment. Major policy-making in reform should carry out social stability threat and risk assessment, improve emergency response plans, prevent and resolve various contradictions, and maintain social stability.

From the date of issuance of this implementation opinion, online car-hailing platform companies, drivers and vehicles that have already started online car-hailing business in this city will be given a five-month transition period.

General Office of Beijing Municipal People’s Government

On December 26th, the Q & J M9 and Huawei Winter All-Scene Conference was held. Q & J M9, nova 12 series mobile phones, Huawei FreeClip earphones, Huawei MatePad Pro Collector’s Edition, Huawei Smart Screen V5, Huawei Routing BE3 Pro 2500M Network Port Edition and other all-scene products were unveiled. The new products of this conference cover consumer smart travel, smart home, smart office and other diverse application scenarios, further improving Huawei’s all-scenario ecology of Internet of Everything.

Hongmeng Zhixing’s annual blockbuster product, Wenjie M9 was officially released, with a total of 4 models launched, priced 46.98-56 9,800 yuan. Wenjie M9 fully boarded Huawei’s top ten smart car technologies, bringing leading experiences such as smart cockpit, smart driving control, smart driving, and smart safety. Redefine smart car standards and create a new smart travel experience for users.

The Q & A M9 has a variety of space, three rows of larger space performance, the occupant space reaches 2725mm, and supports 3, 4, 5, and 6 seats of variable seat mode. Q & A M9’s smart cockpit, the whole car is equipped with 10 screens to realize multi-person, multi-screen and multi-device interaction. The car-level projection system is on the bus, and the 32-inch lifting projection screen replicates the cinema-level viewing experience. The new HUAWEI SOUND excellent series has a flagship configuration, equipped with 25 units of professional-grade audio, and the power amplifier output reaches 2080W. The new Xiaoyi smart assistant is equipped with an AI large model for the first time, creating more full scene possibilities for users.

The M9 is equipped with Turing intelligent chassis, adopts front double fork arms and rear multi-link independent suspension, and the whole system is equipped with intelligent closed air spring and CDC variable damping shock absorber as standard. Through multi-modal fusion sensing system, HUAWEI DATS dynamic adaptive torque system and HUAWEI xMotion intelligent body collaborative control system. HUAWEI ARHUD in-person head-up display system, HUAWEI XPIXEL megapixel intelligent projection headlights and other technologies, so that intelligent driving control can enter the light age.

The M9 fully upgrades the HUAWEI ADS 2.0 high-level intelligent driving system, is equipped with 192-line lidar, and can accurately identify vehicles, pedestrians, traffic facilities and signs, piles, etc. through GOD (General Obstacle Detection) Network 2.0 and RCR (Road Topology Inference Network) Network 2.0.

The nova 12 series combines portrait power with avant-garde technology aesthetics. In terms of appearance, the vitality and confidence of young people are integrated into the design, resulting in a new color 12. In terms of screens, the nova 12 Ultra and nova 12 Pro bring equal-depth four micro-curved screens, which combine round feel and precise control.

In terms of imaging, the nova 12 Ultra and nova 12 Pro are equipped with a front-mounted binocular stereoscopic vision imaging system, which brings 0.7X-5X full-focal zoom capability, and is equipped with the XD Portrait Da Vinci portrait engine, focusing on the four portrait characteristics of "shape, quality, light and color". Various selfie scenes can not only be photographed clearly, but also beautifully. In terms of comprehensive experience, the nova 12 series has an antenna architecture with a wide coverage, which can enjoy high-quality signals outside the suburbs, urban shopping malls, or subway high-speed trains. The dual-card dual-pass function allows the nova12 series to achieve dual data parallelism, and the fast Internet connection does not wait. Nova 12 Ultra and nova 12 Pro support two-way Beidou satellite messages, and support sending and receiving Beidou satellite messages without ground network signals. At the same time, nova 12 series is equipped with HarmonyOS 4, bringing a smarter and more convenient interactive experience. Nova 12 series is equipped with 100W smart fast charging Turbo, nova 12 Ultra and nova 12 Pro can be charged to 60% in 10 minutes.

Huawei FreeClip earphones are designed with "C-bridge" design and built-in nickel-titanium memory alloy, which is reliable and durable. A single earphone weighs only 5.6g, achieving a comfortable and unburdened wearing experience. With a 10.8mm dual magnetic high-sensitivity unit, it brings a pleasant listening experience without entering the ear. The single earphone is full of 8 hours of continuous music playback, and it is matched with a charging case for 36 hours of music playback life of the whole machine. It also supports smart experiences such as multi-device connection and audio sharing.

Huawei MatePad Pro 13.2 inches, Collector’s Edition, Huawei MatePad Pro Kit (Star Flash Edition) and Huawei Smart Magnetic Keyboard (Star Flash Edition) were unveiled at the press conference at the same time. Huawei MatePad Pro Kit (Star Flash Edition) contains a keyboard with Star Flash technology and HUAWEI M-Pencil (third generation), which also uses Star Flash technology, completes the closed loop of the Star Flash ecosystem in professional creation and mobile office scenarios, making office creation more stable and efficient, once again broadening the boundaries of tablet experience. Huawei MatePad Pro 13.2-inch Collector’s Edition also contains Huawei FreeBuds Pro 3 headphones, quiet calls, and HUAWEI Care + service for two years, giving the device more peace of mind.

Huawei released a new smart screen V5. In terms of smart function, it continues to be equipped with Huawei’s Lingxi pointing remote control, bringing a new interactive experience of "playing TV like a mobile phone"; with the super desktop function, it brings a large number of mobile phone applications to the large screen and unlocks hundreds of new ways to play "giant screen mobile phone". In terms of image quality, SuperMiniLED Honghu image quality supports "1080P seconds to 4K", showing more delicate and clear picture details. In terms of entertainment experience, it is equipped with HarmonyOS 4, through multi-device collaboration and diverse living room entertainment gameplay.

　　　 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.

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

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

Image Source: Oriental Fortune

Agreement to postpone the meeting

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

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

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

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

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

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

Shares resume trading on the Hong Kong Stock Exchange

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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.

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

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

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

　　The scene of the incident, pictures provided by the interviewees

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

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

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

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

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

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

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

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

　　The driver was detained and unable to be interviewed.

　　Passengers receiving treatment, photos provided by interviewees

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

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

　　Screenshots of netizens’ comments

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

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

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

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

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

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

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

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

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

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

In the current variety show market, music variety shows were not uncommon, and even began to appear homogeneous. In order to attract more audiences, the music comprehensive program team had created different concepts, which were mostly divided into rock, folk, pop, electronic music, and so on according to the type of music.

The recent broadcast of a music synthesis "Come and See Our Concert" has innovated in the form of performance, emphasizing that "Full Open Mai" gives the audience a closer experience of live music. At the moment of the epidemic, people have not walked into the stadium for a long time to feel the power of the chorus at the concert, and the program concept is to capture the audience’s miss for live music, which naturally has an advantage over other music complexes.

The lineup of the show has also been announced recently, covering Chinese singers of all ages, including old, middle-aged and young, and performing in the form of a combination. Zhang Xinzhe, Wu Sikai, Dai Penny and other classic singers and songwriters come together to believe that they can evoke many people’s youthful memories. Pin Guan, who once played a popular short video platform with the song "The Door Is Not Locked", will also be on the stage with his friends.

Most of these singers are representatives of the popularity of songs, and their songs have spread all over the streets, but no one cares about the singers themselves. In such a collection that focuses on the strength of the scene, I don’t know if they can become popular again.

However, when it comes to "turning red", the 07 fast men who are also in the show lineup may have more experience. After the draft fever more than ten years ago faded, familiar names such as Chen Chusheng, Land Rover, Wang Yixin, and Zhang Yuan were gradually forgotten by people. Some of them adhered to their musical dreams, some switched to filmmaking, and some gradually retired… It was only recently that the fast men returned to the public eye with a reality show. The originally unpopular slow variety show exploded, and the Douban score was as high as 9.7, which also gave the 07 fast men unprecedented attention.

Regardless of the singing ability, the plot of the brothers’ reunion on the stage for many years is enough to attract the audience. After going through their own complicated lives, the brothers can still get together, and the "brotherhood" between them is the key to the recent popularity, and it is also the focus of the program’s promotion. The slogan of the fast man of the year on the promotional poster is also to attract a wave of nostalgic fans and expand the audience.

The show gathered a lot of powerful singers, and naturally also needed traffic blessing, so the new generation of singers was indispensable. However, after the official announcement of the lineup, the appearance of Zhou Zhennan and the little devil caused a lot of controversy. Zhou Zhennan and Cai Weize of the same company formed a "47" group to perform together. Due to the previous incident of Zhou Zhennan’s father being sued, many audiences did not have a good impression of him. The comments even called it "mouse shit spoiled a pot of porridge", and such a poorly reviewed artist had a more or less negative impact on the show’s ratings.

Due to his irrational fans and exaggerated costumes and makeup, the little ghost Wang Linkai has also been controversial from all sides. His performance style on the stage is exaggerated, and the action of "air guitar" is mocked out of the circle, and most people say they cannot appreciate it. The punk style image that the little ghost has maintained for a long time is not very suitable for the positioning of the show "All Open Mai Power Singing General", and his singing skills are not the focus of his performance. In fact, his performance form is greater than the content. The lack of nutritious lyrics has been criticized, and most fans are attracted by the appearance of niche subcultures. If the little ghost still performs in the show in the usual unoriginal way, it will inevitably lead to a wider discussion and criticism.

However, the program team also put a lot of effort into arranging the lineup, and the partners of the two traffic students are Cai Weize and Zhang Bichen. Although Cai Weize also made his debut in the Son of Tomorrow series, as the lead singer of the band at the same time, he has good singing skills, and Zhang Bichen is recognized by the circle and the audience as a strong singer. The cooperation of partners during the performance can also enrich the stage effect to a certain extent, and more importantly, the collision of different types of musicians can increase the topic and accumulate heat for the program.

Such an attempt to make a real "concert effect" is undoubtedly ambitious, and inviting a group of veteran singers is proof. While the controversial artists have a negative impact on the show, they have actually attracted more attention to the show, virtually creating momentum for go LIVE. With the cooperation of the artists’ own traffic and the promotion of the show, many people have noticed this new music synthesis that is about to go LIVE. And whether the concert can be moved into the variety stage as mentioned in the promotion, we will see after the show goes LIVE.

　　"Investor Network" Wen Xia Jing　

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

　　Technology bosses get together to build cars NIO comparative advantage　

　　The next trend in the internet is cars.

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

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

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

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

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

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

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

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