Dangerous NIO, fishing where there are no fish, high-end pure electricity is passive water

On June 1, NIO quietly announced its May sales, and the share price fell by 0.60%. This was another decline after the share price of the second-generation ES6 fell by 9% on the day of listing. By June 5, the total market value had been less than 100 billion Hong Kong dollars.

From the head of sales/market value to the tail of new car makers, NIO only took 2-3 years.

The market value is less than half of Li Auto, which makes NIO, which lost 14.40 billion yuan last year and 44.60 billion in 5 years, on the verge of difficulties, and the cumulative loss is more than Tesla’s 15 years of establishment.

In 2022, NIO’s cash will decrease by 10 billion yuan, and as of the beginning of 2023, there will still be 40 billion yuan in cash in the company’s account. At such a "burning money" rate, I wonder how long NIO can support?

Li Bin, chairperson of NIO, actually knows very well. He said in an interview in April this year that,If this year’s work is not good, 24 years will become another 19 years, which means that NIO may be "back" in the ICU again.

After NIO went public on the Nasdaq, it once became the most valuable car company in China, and Li Bin (left) was no exception for a while.

Back in November 2020, NIO’s market value reached 72.84 billion US dollars (about 479.70 billion yuan), making it the highest car company in China in one fell swoop.

This can’t blame NIO’s current stock price, because sales are not awesome! In May this year, NIO only delivered 6,155 vehicles, a decrease of 7.6% month-on-month, ranking second to last among new car-making forces. This is the fourth consecutive month of decline, and it is getting farther and farther from the goal of "Wei 10,000".

The monthly sales of 3 models are about 10,000, and the 7 models are still around the 10,000, so NIO is dubbed "Wei 10,000".

"If NIO still 10,000 sales every month, Qin Lihong (president) and I will have to look for jobs." In early May this year, Li Bin also joked.

Li Bin and Qin Lihong are also very hard, but the high-end pure electric vehicle (above 300,000 especially above 400,000, such as ES6 plus optional super 400,000 yuan) market targeted by NIO is too small.

Regarding the problem of NIO, as the reader’s comment after the DearAuto article hit the nail on the head "Fishing where there are fish, otherwise it will be a dead end. Where there are fish? One is plug-in hybrid including range extension to solve the problem of mileage anxiety. One is to take a trolley within 150,000 to solve the problem of urban traffic, and the family has a second car. Where there are no fish, there are no fish in the more than 300,000 pure electric markets. Whether you are Wei Xiaoli, BYD Great Wall Geely, or Huawei, there are no fish. Wang Chuanfu said well, strategy is the most important, strategy is wrong, wasting money is small, wasted time is priceless."

I seriously suspect that this reader may be a Weilai owner who hates that iron cannot make steel, otherwise he will not be able to see the problem so clearly.

There is no universal standard for high-end pure electricity, which is generally considered to be more than 300,000 yuan, which is equivalent to luxury fuel vehicles.

NIO’s standard is higher – more than 400,000 yuan, and it often posted such forms last year to prove that it is a monopoly in this market.

In August last year, for example, NIO was still relatively popular, occupying the top and second place in the rankings, but the top 10 were imposed on less than 7,000 vehicles, all of which were given to NIO, and NIO could not support such a large company with more than 30,000 people.

Correspondingly, there are only 10,000 people in Ideal and Xiaopeng.

NIO also has an ET5 sedan that is more capable of playing, in the 300,000-400,000 range, the car claims to outsell BMW 3 Series, and the amount of insurance once exceeded 3 Series, but then sales fell rapidly.

In April, BMW sold nearly 12,000 3 Series, but only 4,293 ET5s, proving that the 30-400,000 pure electric market is not so optimistic.

Due to the unresolved issues of charging and battery life, pure electric vehicles are more suitable for small cars as the second scooter in the family, rather than pure electric vehicles such as NIO.

Of course, the popularity of big cars such as the Ideal L8 and D9 also shows that consumers can also pay for high-end big cars, but they are PHEVs.

The high-end is largely reflected in performance. For electric vehicles, improving performance becomes very simple, basically adding batteries and enhancing motors; while the interior is replaced by a large screen, just to see who has a larger screen and higher pixels.

The threshold has suddenly been lowered, which means that it is not as high-end valuable.

The demand for high-end pure electric cars, if there is one, is small. NIO worked hard, but to no avail. After the launch of ES6, ES8 sales plummeted; when ES7 came out, ES6 sales fell again; when ET5 came out, ET7 dropped sharply.

This is not a problem with the NIO family. Even the most powerful pure electric brand, Tesla, saw its million-dollar Model SX sales plunge after Model 3/Y came out.

Mercedes-Benz, BMW, and Audi all performed poorly in the EV market. This is definitely not an accident. It is not that these products themselves are flawed, but that the market positioning is incorrect.

"We also know that high-end pure electric is a point of no return, but we can’t change it, it’s the decision of the global headquarters," a luxury brand head told DearAuto on condition of anonymity.

In addition, after three years of epidemic attacks, consumers are not as rich as manufacturers imagine, this year, no matter how the government at all levels to stimulate, car sales are always tepid.

According to the National Bureau of Statistics, the per capita disposable income of residents in 2022 was 36,883 yuan; this year, consumers seem to be even more short of money, and even if they have it, they will not dare to spend. The fire in Zibo during the May Day holiday also proved that ordinary people are "short of money", because the cost of going to Zibo is much cheaper than that of Sanya or Lijiang.

One of the reasons why NIO stood out in the early days was that it started early and had a first-mover advantage, which won the favor of the capital markets. The second relied on the ultimate service to create a unique city and build its high-end image. The power exchange model is the core of NIO’s service system, but this core may bring down NIO.

According to industry data, the cost of NIO’s first-generation replacement stations is about 2.50 million-3 million yuan, and the cost of second-generation replacement stations is about 1.50 million yuan (excluding batteries). NIO has established 205 first-generation replacement stations, and the number of second-generation replacement stations is 1,100. In this way, NIO has invested 21.625 billion in replacement stations. Including land rent and operating costs, NIO’s investment in replacement mode has exceeded 10 billion yuan.

In 2023, NIO plans to increase the number of new power stations from 400 to 1,000, with a new investment of 2 billion yuan.

"Kneeling and licking service" has no bottom line, it is difficult to get off the service, and the car owner is also spoiled.

NIO began to do some "tricks" on the service this year, including that the beta version of NOP + Enhanced Pilot Assistance will be switched from free use to paid subscription; the power exchange benefit will be changed from the original 6 times a month to 4 times a month free and no longer send home chargers.

The "backlash" came soon, and NIO’s sales in April and May did not exceed 7,000 units.

After the second-generation ES6 went on sale, ES7 owners quit (thinking that the ES6 was too cheap, affecting the residual value of ES7 used cars) and asked NIO for compensation. The owner replied to Li Bin and said: "My relationship with you is not that close. I am here to negotiate, not to talk."

Li Bin said publicly that this is impossible because he needs to invest in real money.

High-end is the tone of NIO electric vehicles. Li Bin has repeatedly emphasized that "NIO will not offer low-end vehicles, nor will it reduce prices."

But the auto industry is an industry that pays attention to scale. Li Bin is very clear in his heart, "In the long run, the sales of 2 million cars a year by car companies are the line of life and death. If you can’t see the hope of sales to this line, I think it will be difficult."

For NIO, the top priority is to sell more cars and cut costs to survive.

Due to NIO’s high-end attributes limiting its sales scale, its second brand, Alpine, and even its third brand, Firefly, are expected to be used primarily for impulse.

Let’s not say that multi-brand operation is a huge pit, and there are few successful precedents for Chinese and foreign automakers.

For NIO, going down is more difficult because it faces stronger competitors. In addition, mid- to low-end brands have higher cost requirements, which is not good at NIO.

According to NIO’s plan, the Alps brand will mainly target the price range of 20-300,000 yuan. And it is expected that products will be launched in 2024.

But competitors in this price range include BYD, Tesla, Extreme Krypton, Wei Brand, Deep Blue, and a large number of joint-venture electric vehicles.

Firefly is NIO’s car brand, which will be launched in Europe at that time, and is expected to be in the price range of 10-200,000 yuan.

The competition in this market is even more intense in China. Not only are there a bunch of pure electric vehicles including Aian and BYD, but also a large number of plug-in hybrid models. Wuling is also a mythical existence. (Text | DA Bin)

Digital Economy Release | Provincial Government Report: Implementation of Digital Economy "Project No. 1" 2.0; Geely 4.12 billion Yuan Low-Earth Orbit Satellite Internet Project Launched;…

Original, Digital Economy Consultant, Digital Economy Federation, included in the topic #Digital Economy Published 3

Digital Economy Headlines

1. The Fifth Session of the 13th National People’s Congress of Zhejiang Province was grandly opened, and version 2.0 of the "No. 1 Project" of the digital economy was implemented

On the morning of January 26, the Fifth Session of the 13th Provincial People’s Congress was grandly opened in Hangzhou. Listen to the government work report made by Governor Zheng Zhajie. The report pointed out that in 2020, the province’s GDP reached 6.4613 trillion yuan, an increase of 3.6% over the previous year, the general public budget revenue increased by 2.8%, and the income of urban and rural residents increased by 4.2% and 6.9% respectively. The report recommends that the main expected goals of the province’s economic and social development in 2021 are: GDP growth of more than 6.5%. The report proposes to implement the digital economy "No. 1 project" version 2.0. Vigorously promote digital industrialization, and the added value of the core industries of the digital economy will increase by more than 10%. Implement the "5G + Industrial Internet" project to form a large number of new technology fusion application scenarios.

2. The lithography giant posted the transcript: a high-end lithography machine is 1.10 billion yuan, and the profit margin is nearly 50%.

ASML, a leading Dutch lithography giant in the field of lithography machines, handed over a good 2020 report card. The financial report disclosed that ASML’s 2020 net sales 14 billion euros, gross profit margin was 48.6%, and net profit reached 3.60 billion euros.

The main players in the global lithography machine are ASML, Nikon and Canon, which account for 90% of the global market. ASML has a monopoly on the fifth-generation lithography machine EUV lithography machine due to its technological leadership. This kind of lithography machine is used to manufacture chips with advanced processes below 7nm.

In 2020, ASML sold 31 EUV lithography machines to the outside world, bringing in 4.50 billion euros (equivalent to 35.252 billion yuan) of revenue, accounting for 32.14% of the annual sales. Each EUV is equivalent to 1.137 billion yuan, which is a huge thing. A set of data often quoted by the media is that "a single device has more than 100,000 parts, and the hose is two kilometers long. Such a huge equipment weighs 180 tons, and a single shipment requires 40 containers, 20 trucks and 3 cargo planes."

3. Alibaba Cloud joins hands with Chinese Academy of Sciences

On January 26, the State Key Laboratory of Resources and Environmental Information Systems of the Chinese Academy of Sciences and Alibaba Cloud reached a cooperation to build an international leading "land surface system simulation and calculation platform", so as to conduct more in-depth research on the earth system and major geological disasters.

Through the "Terrestrial Surface System Simulation and Computing Platform", scientists can build spatial reconstruction models of geographic data fields, 3D dynamic process models of major geological disasters, Earth system science data sharing platforms, etc., to study the key causes of material and energy cycles in the system. Alibaba Cloud provides the State Key Laboratory with the Ali Feitian Cloud Computing Platform, which integrates high-performance computing, big data storage management, artificial intelligence and cloud computing service functions.

4. Chip supply chain organizations are calling on the new US government to review the ban on chip exports to China

In a January 25 letter to the U.S. Department of Commerce, SEMI, a semiconductor supply chain industry group that represents global semiconductor equipment manufacturers and equipment manufacturers, called on the new administration to review Trump’s August policy on Chinese chip export controls and urged the incoming U.S. Commerce Secretary to strengthen alliances with global competitive markets.

SEMI said in the letter that the previous administration’s approach to unilateral rules on chip exports was not effective, causing unnecessary harm to U.S. industries and vulnerable to retaliation by U.S. exporters.

The SEMI report also shows that China is rapidly developing its chip manufacturing capabilities. In 2012, China ranked only fifth in global IC wafer capacity, but it surpassed the United States and Japan in 2018 and 2019 to rank third, the organization said. SEMI called the trend "very noteworthy." SEMI statistics show that China’s IC wafer capacity has continued to grow since 2019, increasing by 14% in 2019 and 21% in 2020, and is expected to grow by at least 17% in 2021.

5, Kuaishou technology subscription first day hot, margin over-subscription up to 80 times the total amount of 85 billion Hong Kong dollars

Kuaishou technology on the first day of subscription yesterday, investors are enthusiastic about new. Data show that as of 17:26, the total amount of margin has reached 85.034 billion Hong Kong dollars, margin oversubscription has reached 80 times, of which tens of billions of margin scale brokers include: Phillip Securities Financing 31.50 billion, Futu Securities 16.247 billion, Huatai International 12 billion. It is expected that the oversubscription can reach 148.77 times. It is also said that the new page of the brokerage system was down yesterday.

6. MIIT responds to Lixun Precision’s investigation by US 337: Opposing bullying that suppresses normal business competition

On January 24, Apple’s leading supply chain company, Lixun Precision, disclosed the progress of the US International Trade Commission’s 337 investigation against the company, and said that the investigation will not have a material impact on the current production and operation. The investigation began on December 18, 2020, and was filed by Amphenol Corporation of the United States to the US International Trade Commission. The US Amphenol company, which has a partial competitive relationship with Lixun Precision, has experienced weak performance growth in recent years in the context of the market downturn. Gartner analysts said that "if the investigation finds that the company has indeed violated relevant laws, it will be sanctioned, and in addition to the risk of price increases, it may also face the risk of being unable to enter the United States."

MIIT responded to the matter on the afternoon of January 26, firmly protecting intellectual property rights, but also opposing abuse of rights and bullying that suppresses normal business competition.

7, the novel coronavirus real 3D images came out

For the first time, an international team, including Chinese researchers, has "captured" a 3D image of a novel coronavirus. On the nanoscale image, the novel coronavirus, with an average diameter of less than 100 nanometers, looks like a strange planet with freely swinging spike protein "tentacles" on its surface. Inside the "planet", ultra-long RNA chains are densely wrapped around an orderly arrangement of ribonucleoprotein complexes. On January 21, this novel coronavirus high definition popular science image was released by the team of Li Sai Laboratory of the School of Life Sciences of Tsinghua University and the Austrian Nanographics Company and Ivan Viola of King Abdullah University of Science and Technology in Saudi Arabia.

This achievement is also inseparable from the cooperation with Academician Li Lanjuan’s research group of the State Key Laboratory of Diagnosis and Treatment of Infectious Diseases in the First Affiliated Hospital of Zhejiang University School of Medicine. The collaborative research results were published in the online edition of the American journal Cell on September 15 last year. This is the scientific basis for the latest 3D virus science imaging.

Novel coronavirus real 3D image comes out

Digital Economy Dynamics

1. Geely Group’s low-orbit satellite Internet project was launched, with a total investment of 4.12 billion yuan

According to Qingdao Daily, Jiaozhou Natural Resources and Planning Bureau, Qingdao SCO Aerospace Science and Technology New Industry Project Planning Plan was announced before approval, marking the official launch of the project. The project belongs to Geely Satellite Internet Project with a total investment of 4.12 billion yuan and is located in the SCO Demonstration Zone. The total land area of the project is 20,474.3 square meters.

According to the relevant person in charge of the SCO Demonstration Zone Management Committee, in early August last year, the SCO Demonstration Zone Management Committee and Geely Technology Group signed a cooperation agreement on low-orbit satellite Internet projects. According to the cooperation agreement, the SCO Demonstration Zone and Geely Technology Group will lay out and build satellite Internet-related businesses in the SCO Demonstration Zone, with the aim of building a world-leading Internet of Things demonstration project. The project is undertaken by Geely’s subsidiary Zhejiang Time and Space Daoyu Technology Co., Ltd.

2. China Mobile and China Radio and Television have signed a 5G co-construction and sharing cooperation agreement

China Mobile announced in the Hong Kong Stock Exchange that China Mobile Communications, a wholly-owned subsidiary of the company, entered into a specific cooperation agreement on 5G co-construction and sharing with China Radio and Television on behalf of its 31 provincial companies. The two sides jointly built a 700 MHz wireless network, and China Mobile Communications paid China Radio and Television to share a 2.6 GHz network.

3. Panasonic EP smart home appliance project settled in Qiantang New District

On January 21, a signing ceremony was held for the EP smart home appliance project of Hangzhou Panasonic Home Appliances (Comprehensive Bonded Zone) Co., Ltd.

The total investment of the project is 300 million yuan, the land is more than 30 mu, and the construction area is about 30,000 square meters. It is planned to be put into use in April 2022. After reaching the post-production period, the production capacity will gradually reach 1.80 billion yuan.

4, our country 5G + industrial Internet projects have exceeded 1100

On January 26, the State Council Information Office held a press conference on the development of industry and informatization in 2020. Zhao Zhiguo, spokesperson of the Ministry of Industry and Information Technology and director of the Information and Communications Administration, pointed out in response to the key work of 5G development proposed by reporters that it is necessary to do a good job in three aspects, and promote 5G to better empower thousands of industries and show a variety of situations. In accordance with the principle of appropriate advance, continue to deepen the deployment of 5G network construction.

In 2020, more than 600,000 new 5G base stations were built, the number of 5G end point connections exceeded 200 million, and there were more than 1,100 5G + industrial Internet projects.

Zhao Zhiguo pointed out that in 2020, the Ministry of Industry and Information Technology will work with relevant departments and coordinate all parties in the industry to continuously improve policies and measures, continue to increase investment, and our country’s 5G commercial development should be said to have taken a solid step. In 2020, more than 600,000 new 5G base stations will be built, achieving full coverage of 5G networks in all cities above the prefecture level; the number of 5G end point connections will break through 200 million, and many industries will seize the major opportunities brought by 5G commercial use to accelerate the process of industrial digitalization; 5G + industrial Internet projects have exceeded 1,100, 5G + remote consultation has been launched in more than 60 hospitals in 19 provinces, and new models and new formats such as 5G + autonomous driving, 5G + smart grid, and 5G + distance education are constantly emerging. Overall, 5G empowers entities, benefits society, and serves the people, and is increasingly becoming an important driving force for high-quality economic development.

5. Anheng Information was shortlisted for the 2020 "Zhejiang Made Boutique" list

Recently, the list of "Zhejiang Manufacturing Excellence" in 2020 was released. After enterprise declaration, recommendation by local economic and information departments and industry associations, expert review and publicity, 263 products were determined to be "Zhejiang Manufacturing Excellence" in 2020. Among them, Anheng Information became one of the representatives of Zhejiang Manufacturing Excellence. The selected products this time are "Internet of Things Security Heart/DAS-IOT-SH". After declaration and rigorous review by experts, they were successfully shortlisted and were rated as "Zhejiang Manufacturing Excellence" in 2020. "

Digital Economy Policy

1. [Xiaoshan District] Notice on Launching the 2019 Collection of "Unicorn" and "Quasi-Unicorn" Policy Support Projects in Xiaoshan District

Project solicitation requirements

1. The declared enterprise must be registered in Xiaoshan District for industry and commerce and taxation, have independent legal personality, and have a sound financial management system. The enterprise must be included in the "2019 Xiaoshan District" Unicorn "and" Quasi-Unicorn "plans.

2. The relevant R & D investment projects declared need to set up detailed subjects and special project accounting.

3. The project applicant must be the specific organization and implementation unit of the project, and has not received relevant financial assistance at the district level.

4. The application materials must be true and reliable, without fraud.

II. Project application procedures

1. Declaration time. January 21-February 10, 2021

2. Application basis and requirements. In accordance with the relevant requirements of the "Declaration Instructions for" Unicorn "and" Quasi-Unicorn "Policy Support Projects in Xiaoshan District" and other attachments, the corresponding application materials are objectively and truthfully prepared (see the attachment for details).

3. Format for submission of application materials. In accordance with the requirements of the "Declaration Content Explanation for" Unicorn "and" Quasi-Unicorn "Policy Support Projects in Xiaoshan District", the materials are bound into a book, and the binding materials are bound in paper and two copies, and one electronic version.

4. Place of submission of application materials: 703, Block C, Water Building.

III. Declaration contact information

District Economic and Information Bureau Contact: Gao Jiecan, Ye Huimin 82705239 82705238; Email: 1042430841@qq.com (electronic materials are sent to this email)

District Finance Bureau Contact: Zheng Chao 82753986

Attachment download address: https://share.weiyun.com/Vjy9UnuY

This project will be closed on February 10, 2021.

Source: West Lake District

2. [Yuhang District] Notice on Organizing the Application of the First Batch of Enterprise Cultivation Financial Support Policies in Yuhang District in 2020

First, the application object

Large enterprises and large groups during the cultivation period from 2016 to 2020.

II. Policy enjoyment

1. If large enterprises and large groups cultivate enterprises that meet the policy conditions, they will be given incentives and subsidies through project support. 80% of the local fiscal contribution of paid taxes in 2019 exceeds the base.

2. If the enterprise cultivation object adds new industrial land during the cultivation period, the tax base will be increased by 200,000 yuan per mu from the next year after the project is put into operation. For the industrial land obtained by the cultivation enterprise through bidding and auction, the project that has not been put into production after 5 years from the year of land acquisition will be regarded as put into production, and the tax base will be increased by 200,000 yuan per mu of actual tax from the 6th year (from the first year of land acquisition). At the same time, for enterprises that withdraw from industrial land due to the closure or relocation of urbanization, energy conservation and emission reduction, etc. (except for long-term idle withdrawal), the tax base will be reduced by 200,000 yuan per mu of actual tax from the year of withdrawal from industrial land. The specific increase (decrease) of the local retained part of the paid tax base is based on 200,000 yuan per mu as the standard, and the local retained tax base of the increase (decrease) is determined according to the calculation of the tax structure of the actual tax paid by the enterprise in the current year.

3. Local fiscal contribution = the local retained part of the tax paid by the enterprise – the total amount of financial funds that have been subsidized (50% deduction for enterprises that receive competitive allocation funds).

4. The taxes involved in financial incentives are: value-added tax, enterprise income tax. The caliber of tax redemption is: first, value-added tax, calculated according to the actual value-added tax paid in the corresponding period × 40% + the value-added tax exempted in the corresponding period × 40%; second, enterprise income tax, calculated according to the annual settlement and payment of the corresponding period × 32%.

III. Declaration requirements

1. Materials required for enterprise declaration:

(1) Table of Contents (indicate page number)

(2) Application Form for Tax Support Policies (see Annex 1)

(3) Project declaration commitment letter (see Annex 2)

(4) Annual financial statements (balance sheet, income statement)

(5) Copy of business license

(6) Merger and Cultivation of Subsidiaries (see Annex 3)

(7) List of new industrial land use by enterprises (see Annex 4)

(8) Other relevant supporting materials

2. The application situation of the enterprise must be true and reliable, and no fraud shall be allowed; the application materials shall be reported in 2 copies to the "Pro-Qing Online" Service Center of Yuhang District, Hangzhou (the first floor of the District Finance Bureau); the electronic version shall be submitted to the wujun7229@dingtalk.com synchronously. The application time ends on February 8, 2021, and overdue will not be accepted.

Contact: Li Liangyi and Wu Jun, Economic Operation Section, District Economic and Information Bureau, Tel: 86223024, 89089835; Wang Zhonghong and Xu Zhen, Enterprise and Finance Section, District Finance Bureau, Tel: 86232756, 86130033.

Attachment download address: https://share.weiyun.com/6dPaXPky

The application for this project will be closed on February 8, 2021.

Source: Yuhang District

Digital Economy Financing List

1, Didi freight will complete the first round of financing of 1.50 billion US dollars

On January 26, it was reported that Didi Freight has completed the first round of financing agreement of 1.50 billion US dollars. The lead investors are Temasek Holdings, CPE Yuanfeng (CITIC Industry Fund), IDG Capital, etc. Other participants include Zhongguancun Nongmen Fund, Private Equity Agency of Prologis, Hidden Mountain Capital, Country Garden Venture Capital, VMS Group and Yunfeng Fund, etc. This round of financing is planned to be completed in February this year. The main company of Didi Freight is Beijing Kuaiju Anyun Technology Co., Ltd., which was established in April 2020. The legal representative is Zhao Hui. Its business contents include: operating telecommunications business; technical development of computer software, technical consultation, technical services, etc.

2. Self-driving company "Yishi Technology" received over 1 billion yuan in financing

UISEE, an autonomous driving company, announced the completion of a new round of financing with a total of over 1 billion yuan, including strategic capital injections from multiple industrial investors and the CDB Manufacturing Transformation and Upgrading Fund. This is the first investment of the CDB Manufacturing Transformation and Upgrading Fund in the field of autonomous driving. This round of financing will be used to strengthen the research and development of key technologies for the "all-scene, truly unmanned, all-weather" autonomous driving platform, and work with the industry to promote the large-scale commercialization of autonomous driving.

3, Spark thinking completed the E round of over 400 million US dollars financing

On January 25th, Spark Thinking, an online education brand for children, announced the completion of the E3 round of financing. This round of financing was led by Trustbridge, followed by old shareholders such as Tencent, and Light Source Capital continued to serve as the exclusive financial advisor. So far, Spark Thinking has completed all three rounds of financing in the E round within 5 months, with a total financing of more than 400 million US dollars.


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Original title: "Digital Economy Release | Provincial Government Report: Implementation of Digital Economy" No. 1 Project "2.0; Geely 4.12 billion Yuan Low-Earth Orbit Satellite Internet Project Launched; Anheng Shortlisted for 20 Years of Zhejiang Manufacturing Excellence List"

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The 2020 Screenwriters’ Night honored 13 film and television works, and Wang Tie won the honor of best adaptation for "Celebrating More Years"

On November 21, the "2020 Screenwriting Night" was held in Beijing under the guidance of the China Broadcasting Federation Television Drama Screenwriting Committee and sponsored by iQIYI. Yang Shuo, Party Secretary and Director of the Beijing Municipal Radio and Television Bureau, Kong Jianhua, Party Member and Deputy Director of the Beijing Municipal Radio and Television Bureau, Li Jingsheng, Vice President of the China Federation of Radio and Television Social Organizations, Liu Heping, Chairperson of the China Broadcasting Federation Television Drama Screenwriting Committee, Li Shaohong, President of the China Film Directors Association and the fifth generation director of China, Liao Xiangzhong, Party Secretary and President of the Communication University of China, Hu Zhifeng, Deputy Secretary of the Party Committee and Vice President of the Beijing Film Academy, Gong Yu, founder and CEO of iQIYI, and many other industry experts attended the scene. That night, a total of 13 films, animations, dramas and other outstanding works, and 23 outstanding screenwriters were honored by the Screenwriters’ Night.

Screenwriter Night is the first screenwriter honor event launched by iQIYI for screenwriters. It aims to encourage and recognize outstanding screenwriters and creative talents, work with industry partners to build a healthy content creation environment, and help the birth of more excellent film and television works. At the scene, Gong Yu, founder and CEO of iQIYI, delivered a speech. He said: iQIYI always respects the screenwriter industry and creative talents. Screenwriters, as the source of film and television content creation, have a broad space for development. iQIYI hopes to work with more screenwriters to deliver high-quality content to the industry.

The 2020 Screenwriters' Night honored 13 film and television works, and Wang Tie won the honor of best adaptation for "Celebrating More Years"

Liu Heping, Zheng Xiaolong and other 30 authoritative personnel served as judges for "Clouds Made of Rain in the Wind" and "Twelve Hours in Changan"

In recent years, with the development of the film and television industry gradually moving towards a mature stage, and the healthy guidance of leading video platforms, more excellent screenwriters have been discovered, and well-known screenwriters such as Wang Tie, Mo Baofei Bao, Chen Yuxin, and their works have successively gone to the public. This has made the importance of screenwriters and content creation better recognized by the market and users, and has also put the career path of screenwriters and the optimization of the industrial environment on the agenda.

The 2020 Screenwriters' Night honored 13 film and television works, and Wang Tie won the honor of best adaptation for "Celebrating More Years"

This selection includes nearly 30 authoritative personnel in the field of drama, film, and animation as judges. According to the content quality, broadcast performance, market feedback and other factors of the work, the shining points of film and television works are explored from the market and professional perspective. After multiple rounds of screening and collegiality, the results are obtained. Positive incentives are given to screenwriters in different fields to ensure the justice and fairness of the selection.

In the drama unit, Liu Heping, president of the China Broadcasting Television Drama Screenwriting Committee, Zheng Xiaolong, president of the China Broadcasting Television Drama Director Committee, and Zhang Guoli, a national first-class actor, were invited; in the film unit, film director Xie Fei, Chinese film and television director Li Shaohong, and honorary president of the China Film Critics Society Zhang Baiqing were invited; in the animation unit, Yu Peixia, president of the China Animation Society, Huang Xinyuan, dean of the School of Animation and Digital Arts of the Communication University of China, and Li Jianping, dean of the School of Animation of Beijing Film Academy.

There are dozens of shortlisted works in this screenwriting night, including multiple platforms such as TV, Internet, and theaters in 2019, as well as multiple genres such as movies, dramas, and animations. The film shortlisted works include high-reputation films such as "Clouds Made of Rain in the Wind" and "Send Me to Qingyun". The series shortlisted works include "Celebrating More Years" and "Dear, Love" and other episodes with both traffic and word-of-mouth, and the competition is fierce.

Mo Bao Feibao won the "Best Young Screenplay" Wang Tie won the "Best Adaptation" honor for "Celebration of More Than Years"

Focusing on the three major units of drama, film and animation, as well as the special recognition of the organizing committee, the Screenwriters’ Night announced the list of outstanding works, with a total of 13 works and 23 outstanding screenwriters receiving recognition.

Among them, in the drama unit, Paw Studio won the "Hot Discussion of the Year" honor for "Twelve Hours in Chang’an"; Mo Baofeibao won "Best Young Screenplay" for "Dear, Love"; Wang Tie won "Best Adaptation" for "Celebration of More Than Years"; Chen Yuxin, Qin Yue, and Li Li won "Best Original" for "Ice Breaking Action".

In the film unit, Mei Feng, Qiu Yujie, and Ma Yingli won the "Best Original Cinema Film" based on "Clouds Made of Rain in the Wind"; Lin Yongchen, Li Yuan, and Xu Yimeng won the "Best Adaptation of Cinema Film" based on "Young You"; Guo Yude, Liu Bowen, and Sang Mutian won the "Best Screenplay of Online Movie" based on "Women’s Heavenly Group of Sorrowful Music".

In the animation unit, Dong Xiangbo’s original script "Spirit Cage" won the "Best Original of National Manga"; Chen Tong, Lv Linjin and Liu Yang won the "Best Adaptation of National Manga" for "Whale Ride of the Four Seas Season 2"; Li Zibo won the "Best Original of Children" for "Du Dangman".

In addition, the organizing committee also awarded special commendations. "Diplomacy" and screenwriters Ma Jihong, "Nezha’s Devil Child" and screenwriters Dumpling, "Donkey on the Tree" and screenwriter Chang Wenjiang were honored by the conference.

The 2020 Screenwriters' Night honored 13 film and television works, and Wang Tie won the honor of best adaptation for "Celebrating More Years"

"2020 Writers’ Night" Honorary Works List:

Drama Unit Honorary Works

Hot Talk of the Year

"Twelve Hours in Chang’an": Paws Studio

Best Young Screenplay

"Dear, Love": Mo Bao Fei Bao

Best Adaptation

"Celebration of the Year": Wang Tie

Best Original

"Operation Ice Breaking": Chen Yuxin, Qin Yue, Li Li

Film Unit Honorary Works

Best Original Cinema Movie

"Clouds Made of Rain in the Wind": Mei Feng, Qiu Yujie, Ma Yingli

Best Cinema Movie Adaptation

"Young You": Lin Yongchen, Li Yuan, Xu Yimeng

Best Screenplay for an Online Movie

"Mourning Women’s Heavenly Group": Guo Yude, Liu Bowen, Sang Mutian

Animation Unit Honorary Works

National Manga Best Original

"Spirit Cage": Dong Xiangbo

Best Adaptation of National Manga

"Whale Ride of the Four Seas Season 2": Chen Tong, Lv Linjin, Liu Yang

Children’s Best Original

Dudang Man: Li Zibo

The organizing committee specifically commends

Diplomacy: Ma Jihong

The Devil’s Child of Nezha: Dumplings

"The Donkey Climbs the Tree": Chen Wenjiang

Yang Mi Liu Kaiwei parted ways, choosing a divorce time to protect Xiao Nuomi

1905 movie network news On the evening of December 22, Jiaxing Media, the brokerage company to which Yang Mi and Liu Kaiwei belong, issued a statement announcing that Yang Mi and Liu Kaiwei had signed an agreement in 2018 to peacefully break up and end their marriage.

In the statement, it also specifically stated that "although they will no longer live together as husband and wife, the two will also take care of and raise the children together as relatives in the future." To put an end to the small glutinous rice issue that the majority of netizens are concerned about.

In 2011, Yang Mi and Liu Kaiwei fell in love for the filming of the TV series "Ruyi". In 2012, the two admitted to their relationship on Weibo. On January 8, 2014, Yang Mi and Liu Kaiwei held a wedding ceremony in Bali; on January 19 of the same year, Liu Kaiwei confirmed that Yang Mi was more than three months pregnant. On June 1, 2014, Yang Mi gave birth to her daughter "Xiao Nuomi" in Hong Kong.

In the two years after their marriage, Yang Mi and Liu Kaiwei interacted frequently, and the two often forwarded and interacted sweetly with each other on Weibo. But since 2016, the interaction between the two sides on Weibo has become less and less. In the past two or three years, both of them have produced a lot of new works, but the two sides have almost never promoted each other. On December 3, 2015, Liu Kaiwei forwarded Yang Mi’s new works for the last time. And at the end of 2015, it was when Liu Kaiwei and Yang Mi reported that their marriage was changing.

Until 2018, the two’s Weibo almost stopped interacting. The last time Liu Kaiwei interacted with Yang Mi on Weibo was on April 12, 2018. Yang Mi was caught in a public welfare scam, and Liu Kaiwei forwarded the rumor-refuting article and supported Yang Mi.

And according to an online friend, "It has been rumored for so long, why did Liu Kaiwei and Yang Mi choose to announce the divorce statement today? Because schools in Hong Kong will give students a Christmas holiday from December 22, and the holiday time is not short. In order to protect Xiao Nuomi from being chased by the media, the two of them advised everyone not to disturb Xiao Nuomi."

The first test of Geely Galaxy OS 2.0 smart equality is the Galaxy base color

Geely’s new generation of Galaxy OS 2.0 system will be launched in batches in late December, and the national high-speed/elevated high-precision map will also be opened in December, which means that the NOA high-level intelligent driving and piloting system on Boyue L can be used nationwide after this update. Then this program, follow our perspective to experience it first~

Smart car rim dynamic hotspot information

"Travel+"was advanced with electricity, and Jietu Shanhai L9 led the mixed lineup to land at Guangzhou Auto Show.

China Economic News Network (Liu Chenxi)Following the release of Jietu Shanhai new energy sequence to screen the whole network, Jietu Automobile once again detonated its concern. On November 17th, 2023 Guangzhou Auto Show was grandly opened. Jetway Auto made a heavy appearance with all-star lineups such as Jetway Shanhai L9, Jetway Shanhai L6, Jetway Traveler, Jetway Traveler C-DM and Jetway Traveler JMK modified cars, showing Jetway "Travel" in all dimensions.+”The latest achievement of advanced strategy electrification tells the brand that thank you sir is fully committed to the new energy track.


Run fast, accelerate the sprint of 300,000 annual sales target.

Since its establishment, Jetway has always adhered to "travel"+"Strategic initial intention, creating" travel "from 2018 Jietu product sequence.+"Market segmentation, by 2023, Jietu Shanhai new energy sequence will open up a brand-new track of" travel+hybrid ",and Jietu Automobile will make great strides in the automobile stock market, creating a new record for the growth rate of China SUV brand with strong growth, and creating an exciting speed for China automobile market.

This year, in the face of the extremely involuted China auto market, Jetway once again ran out of the "Jetway Acceleration". In October, Jetway sold as many as 38,053 vehicles a month, 1-mdash; The cumulative sales volume in October increased by 64.7% year-on-year, making China’s cutting-edge SUV car companies the first in growth rate; Up to now, the cumulative sales volume in 2023 has reached 256,000 vehicles, ranking fifth in China brand fuel SUV market, ranking among the first camp, and successfully winning the trust of 870,000+users and the love of 39 million fans around the world. It is estimated that by the end of 2023, the annual sales volume of Jietu Automobile will exceed 300,000, and the total sales volume in the first five years will exceed 950,000.

Travelers "wild" to help out, achieving new growth in Jietu market

Jetway’s beautiful sales report card is inseparable from the strong help of Jetway travelers. Based on the real needs of users, Jietu Traveler has been created by more than 30 rounds of users. It has four advantages: beauty, joy, city and wildness, which can not only give users the excitement when they move forward, but also provide users with the comfort when they stop. It can not only satisfy users’ pursuit of universal beauty, but also realize the display of self-personality. Its appearance has successfully opened up the market segment of off-road SUV for travel and expanded and upgraded "travel"+"Strategy, let Jietu brand more and more" wild ".

Nowadays, cross-country travel has become a new fashion, and the appearance of Jietu travelers positioning "cross-country SUV" is the peak. The new car sold 7931 vehicles in the first month of listing, and the order has reached 43926 vehicles so far; Among them, the proportion of four-wheel drive purchase is as high as 85%, and the proportion of ecological modification is 62%, which fully shows the market popularity and user preference of Jetway travelers, and strongly helps Jetway to sprint through the annual sales target of 300,000 at the end of the year.


C-DM, a Jietu traveler who appeared at this auto show, directly hit the new trend of young people’s electric travel in the new era. The new car adopts Chery Kunpeng super-performance electric hybrid C-DM, equipped with 1.5TD DHE+3DHT165 high-efficiency hybrid power system, with a comprehensive battery life of 1000 km+; With 6.6kW external discharge function, it supports various camping equipment such as ovens and electric cookers. Using Qualcomm Snapdragon 8155 chip, it has the advantages of outstanding face value, powerful power, long comprehensive battery life and first-class safety performance. The new car is expected to go on the market in the first quarter of 2024, which is bound to become a new sales growth point of Jietu Automobile.

Shanhai L9 led the way, "Travel!+"Strategy advanced again.

In the face of the fierce wave of new energy, Jietu Automobile accelerated its overall transformation to new energy, and launched Jietu Shanhai new energy product series on the eve of Guangzhou Auto Show, and officially listed its first model — — "Big family, big seven-seat super hybrid SUV" Jetway Shanhai L9, driven by electric hybrid "travel"+"Strategy advanced again.

Jietu Shanhai is positioned as a "leader of hybrid cross-country travel", and will launch a strategic layout from five aspects: new sequence, new products, new channels, new ecology and new team to build the world’s first hybrid cross-country brand. Jietu Shanhai relies on Kunlun cross-country platform, Kunpeng super hybrid C-DM technology, lion intelligent cabin/great wisdom driving, extremely changeable space scene ability, "travel"+Ecological platform and other five advantages to build the core of product technology, to meet the new travel needs of users who are more convenient, more rational, more immersed and more social.


At the auto show, Jietu Shanhai L9 made its first public appearance after listing. The new car has a long body of 4862mm and a long wheelbase of 2850mm, which is extremely changeable and more in line with the needs of large family users. Using Kunpeng Super Hybrid C-DM, it has an industry-leading thermal efficiency of 44.5%, and the cruising range under comprehensive working conditions reaches 1100Km;; Equipped with Qualcomm 8155 high computing platform, it provides more than 15,000 books on the road, which is convenient for users to plant their own tourist routes at any time. Jietu Shanhai L9 is also the first hybrid model that promises the lifetime warranty of the whole vehicle, and it can be called "the most ideal car with a class of 200,000".

In the next two years, Jietu Shanhai will launch eight new hybrid products, including urban Yueye SUV series, hard-core off-road SUV series and pickup truck series, covering mixed family travel and mixed off-road travel. And innovate the service mode to create exclusive "travel"+"The new ecology, it is estimated that 300 mountain and sea experience centers will be officially opened by the end of this year, and the number will increase to 450 by the end of 2024, providing users with 24-hour free charging, free opening of lounges and live broadcast rooms, and 50 km on-site test drive experience services anytime and anywhere.

Facing the future, Jetway will continue to insist on "travel"+At the beginning of the strategy, with Jietu Shanhai as the fulcrum, we will create a new business card of "travel+mixing" and create a charged "travel" for users.+"Full-scene value experience, driving the brand up and value jump, striding forward towards the goal of becoming a club with an annual sales of one million in 2026, in the" travel "+"Run out of the new speed on the road.


Evergrande Auto’s "life-saving money" is gone

K Figure 00708_0

K Figure 03333_0

  Lost "life saving money".

  A few days ago, the Hong Kong Stock Exchange announced that the strategic investment agreement signed with Newton Group was terminated. original transaction and relatedThe amendments failed to achieve further development.

  Said that, as at the date of this announcement, no further progress has been made on the proposed transaction and the amendment of its terms. The Company confirms that the proposed transaction and will no longer proceed. As the Share Subscription is no longer taking place, the Subscriber is under no obligation under Rule 26 of the Takeovers Code to make an unconditional mandatory general offer in respect of all issued Shares which it and persons acting in concert with it have not yet owned or agreed to acquire.

  ShanghaiNewspaper reporters recently interviewed and learned that Hengda, which once built high-profile cross-border cars, has been mired in crisis.

  Hengchi Automobile Tianjin Factory Production Line

500 million dollar "lifesaving money" is gone

  On August 14, 2023, Hengda Automobile announced that it received the first US $500 million strategic investment from NWTN.US, a listed company held by the UAE sovereign fund, and another RMB 600 million transition funds will arrive in the account five working days after the announcement. The proposed transaction between the two parties is expected to be completed in the fourth quarter of 2023. After the completion of the transaction, the shareholding ratio of Newton Group to Hengda Automobile will account for 27.5% of the total number of issued ordinary shares after the expansion.

  At that time, the market believed that the Newton investment would be a "life-saving money" for Evergrande. Evergrande had announced that the company planned to use all the war investment funds for Evergrande’s Tianjin plant to ensure the normal production of Hengchi 5 and the successive mass production of Hengchi 6 and Hengchi 7. Newton Group will also assist Evergrande in exploring overseas markets and achieve the annual export of 30,000 – 50,000 Hengchi cars to the Middle East market. However, the deal comes with 19 prerequisites, includingWorkout takes effect, no major adverse impact events, etc.

  On January 1, 2024, Hengda Automobile announced that the Newton Group’s share purchase agreement and the company’s debt-for-equity subscription agreement for Hengda Automobile had expired on December 31, 2023. The deadline for these two agreements is December 31, 2023, and the parties to the agreement have not agreed to extend them.

  Evergrande Motor said that the parties to the Newtown Group share purchase agreement and the debt-for-equity swap subscription agreement, as well as certain stakeholders, have been and will continue to negotiate on amending certain key terms of the proposed transaction and the debt-for-equity swap. The company will make monthly announcements until the exact intention to proceed with the proposed transaction and the debt-for-equity swap is announced or the decision not to proceed with the proposed transaction and the debt-for-equity swap is made.

  Hengchi Automobile Tianjin Factory Production Line

Evergrande Automobile’s performance has exploded, and its business has stagnated

  The latest financial report shows that Hengda Automobile listed on the Hong Kong Stock Exchange in 2023 annual revenue of RMB 1.34 billion yuan, net loss of RMB 11.995 billion yuan, a year-on-year reduction of 56.64%. As of December 31, 2023, Hengda Automobile has delivered more than 1389 vehicles.

  In 2019, Hengda’s Hengchi Automobile brand was born, and it also participated in the 2021 Shanghai Auto Show with a high profile. It launched 9 pure electric models in one go, and its booth area exceeded that of the same international first-tier car companies. At that time, Liu Yongzhuo, president of Hengchi Automobile, said that in the fourth quarter of 2021, Hengchi Automobile will start full trial production, and large-scale delivery will be carried out in 2022. However, it was not until April 2022 that three Hengchi 5 cars were actually unveiled. Six months later, Hengchi 5 was finally delivered. However, Hengchi Automobile soon fell into quality doubts. Since then, due to insufficient funds, Hengchi Automobile’s Tianjin factory has suspended production of Hengchi 5.

  However, the betThe car track is still trying to help its Hengda car, which is also listed on the Hong Kong Stock Exchange, out of trouble after falling into a liquidity crisis. At the end of May 2023, TianjinLeaders led a team to carry out research services at Hengchi Automobile’s Tianjin factory. Hengchi Automobile introduced that Hengchi’s Tianjin factory has now fully resumed production. Liu Yongzhuo said that the company will make every effort to speed up the production and delivery of Hengchi 5, and continue to promote the development and production of subsequent models to make the company bigger and stronger.

  A Hengchi Automobile employee told reporters that in mid-2023, the company also made some efforts, such as imitating other automobile companies to hold Hengchi Chongqing Chengdu car owners’ mountaintop camping activities, which were mainly targeted atOTA online upgrade with optimized management system and charging logic.

  But the good times did not last long. Hengda Automobile announced on January 8 that Liu Yongzhuo, the executive director of the company, has been detained according to law for suspected illegal crimes. In addition, Hengda Hengchi Automobile (Shanghai) Co., Ltd. recently added three pieces of information about the person being executed, with a total target of 98 million yuan.

  The reporter learned that since March 1, employees of Hengchi Automobile Tianjin have been unable to enter the office building with facial recognition, and the facial recognition machine shows that "the person is not registered". The person in charge of media relations of Hengchi Automobile also told reporters that he usually does not go to the company, does not connect with the media, and no one hands over the job. "Now there are no people in the brand department of Hengchi."

  "Evergrande’s car manufacturing industry is currently in deep crisis." Zhang Junyi, a managing partner of Oliver Wyman Consulting, told reporters that on the one hand, assets such as Hengchi Automobile’s Tianjin factory have been mortgaged many times, making it difficult to find a successor. On the other hand, with a fierce price war, the domestic new energy automobile industry has entered a stage of overcapacity. The assets of Wenzhou and Huanggang, the two production bases of Weimar Automobile, which had gone bankrupt and reorganized, have not been taken care of.

Wang Jianlin turbulent 30 days, crazy sale of assets, a total of nearly 7 billion yuan recovered funds

July has been a difficult month for Wang Jianlin. In the past month, Wang Jianlin and Wanda have frequently become the focus of public opinion due to a series of fire sale operations. Although the title of richest man has long been lost, the exposure has not diminished at all.

Wang Jianlin, chairperson of Wanda Group, sold his assets three times in a row under financial pressure, recovering a total of nearly 7 billion yuan. These assets include Wanda Film and Beijing Wanda Investment, and the transfer price is lower than the market price.

Wang Jianlin has sold assets three times in a row:

On July 10, Wanda Investment and Ms. Lu Lili signed the "Share Transfer Agreement". Wanda Investment transferred its shares of Wanda Film 180 million to Lu Lili, accounting for 8.26% of the company’s total share capital. The transfer price was 12.07 yuan/share, involving an amount of 2.173 billion yuan.

On July 17, Wanda Investment and its concerted action Shanxian Rongzhi signed the "Share Transfer Agreement", Wanda Investment transferred its holding of Wanda Film 177 million shares to Shanxian Rongzhi, accounting for 8.14% of the company’s total share capital, and the transfer price was 13.17 yuan/share, involving an amount of 2.331 billion yuan.

On July 23, China Ruyi announced that Shanghai Ruyi, a wholly-owned subsidiary of the company, acquired 49% of the shares of Beijing Wanda Investment Co., Ltd. (referred to as "Wanda Cultural Industry Group") held by Beijing Wanda Cultural Industry Group Co., Ltd. (referred to as "Wanda Investment") at a transaction price of 2.26 billion yuan.

After the transfer, Wanda Investment will be held 49.8% by Wanda Cultural Industry Group, 49% by Shanghai Ruyi, and 1.2% by Wang Jianlin. Wanda Investment is the controlling shareholder of listed platform Wanda Film, holding 20% of its shares. After the change of rights and interests is completed, Shanghai Ruyi indirectly holds a 9.8% stake in Wanda Film through Wanda Investment.

Transferring assets can only ease Wanda’s current cash flow problems. S & P pointed out that Wanda Commercial will face huge repayment pressure in the next 12 months.

According to public information, the current Wanda commercial management of 11 surviving bonds, the scale of 10.766 billion yuan, of which the scale of maturity within one year is 1.348 billion yuan. In terms of US dollar bonds, the current Wanda commercial management of 4 US dollar bonds, the scale of survival 1.70 billion US dollars, two of which total 1 billion US dollar bonds will mature within one year.

Industry insiders believe that the biggest risk for Wanda at present is whether it can go public. If Zhuhai Wanda Commercial Management cannot go public by December this year, according to the gambling agreement, Wanda will not only have to redeem 38 billion yuan, but also pay 12% interest. "

At present, China Chengxin International, Fitch, Moody’s and S & P have successively adjusted the rating of the joint stock company of Dalian Wanda Commercial Management Group.

In response, Wanda Commercial Management Group responded that the company’s operations are stable and its profitability is good. The company will strictly abide by the provisions and requirements of relevant laws and regulations, earnestly fulfill its information disclosure obligations, and remind investors of relevant risks on relevant matters.

Meituan plans to buy back shares up to $1 billion

On November 29, Meituan announced that since December 1, it plans to buy back the company’s shares with a total amount of no more than 1 billion US dollars.

Meituan believes that the share repurchase demonstrates the company’s confidence in its business outlook and prospects. The board believes that the company’s existing financial resources are sufficient to support the share repurchase while maintaining a sound financial position.

According to Meituan’s latest third quarter results announcement for 2023, the company’s quarterly revenue was 76.50 billion yuan, an increase of 22.1% year-on-year; adjusted profit was 5.73 billion yuan, an increase of 62.4% year-on-year.

Editor, Li Yan

Proofreading, Liu Baoqing

"China Star Jump" helps diving rookie counterattack professional players

Click to watch more video highlights of Star Jump > >

Killer took off handstand.

Xing Aowei takes off.

Gao Hu’s Flying Swallow Action

  Zhejiang Satellite TV’s large-scale charity star diving reality show "China Star Jump", since last week’s transfer to the semi-finals of the master’s tricks, the overall difficulty of the players’ jumping has improved, and the difficulty of the movements has erupted collectively. Especially in Gao Hu and Killer, two "high-platform kings" jumped out of the amazing professional-level movements. Killer took out the difficult movement of 611A handstand and somersaulted forward for half a week in the first jump, and then challenged the highest difficulty 202A of the 10-meter platform since the launch of the diving program, while Gao Hu 302C’s perfect jump of reflexively somersaulted and hugged her knees for one week, which was praised by Olympic champion Li Na, a substitute judge, as "the height that professional athletes can only reach after practicing for one year". This week’s second semi-final is still full of experts, especially Xing Aowei, the Olympic gymnastics champion of cross-border diving, who created a dazzling 720-degree somersault and a 180-degree twist against the sky in the preliminary round. The semi-final will continue to carry forward the spirit of innovation and threatened to "jump the diving action of the next Olympic Games" if he advanced to the final.

  Killer, Xing Aowei and Gao Hu, who are also non-professional divers, have turned from inexperienced diving novices to almost professional ones. Their respective advantages of "being in harmony with the right time and the right people" are prominent, which is an important weight for their successful breakthrough and the secret behind their successful counterattack.

  Location: Gao Hu grew up facing the sea, and his childhood "plunge" warmed up and dived.

  Gao Hu is the "king of the platform" among the contestants. He not only won the 10m platform at the fastest speed in training, but also was the first person in the competition. In addition to the courage and boldness of "being too high to be happy", Gao Hu showed an amazing and perfect swallow in the preliminary round, and the difficulty of the action was also upgraded all the way. Especially in the last semi-final, Gao Hu 302C made a perfect jump by doing a reverse somersault and holding her knees for a week. Even Olympic champion judge Li Na praised this as "the height that professional players can only reach after practicing for one year". He also relied on this difficult and perfect jump to sit firmly on the spot and advance directly to the final without any suspense.

  The reason why Gao Hu achieved such amazing diving attainments in a short time can be said to be due to the "geographical advantage" occupied since childhood. He is a native of Qingdao, and the urban environment surrounded by the sea on three sides gives Gao Hu a unique advantage before diving. According to Gao Hu himself, "I grew up facing the sea, and I have a deep plot about water. My whole family likes swimming very much, so I have been moving freely in the water since I was three or four years old". According to Gao Hu’s recollection, there are many hills and rocks in his hometown near Qingdao. When he was a child, he was bold. He often avoided his parents’ attention with his friends and jumped from the rocks to the water for excitement. Although the equipment was rudimentary and there was no technical content, his childhood experience was similar to that of today’s diving, especially because he learned Gao Hu’s boldness. It is no wonder that he was able to walk calmly on the 10-meter platform on the first day of training. He once said that "I am not afraid of heights at all and like to challenge the limits." Gao Hu, who has excellent water quality, also revealed that he had passed the diving certificate when he traveled to Palau.

  In addition, Gao Hu is also a sportsman. He likes to play volleyball since he was a child. He is the leader of the school volleyball team. He has participated in many municipal competitions with the team, and volleyball has also trained Gao Hu’s good arm strength.

  Timing: Killer was born with good gene dance skills and was born with boldness.

  Killer has been called "Zhang Dadan" since she entered the competition. In the preliminary competition, she was the first woman on the 10m platform, which was as famous as Gao Hu. In the semi-finals, she was even more powerful, with two consecutive jumps. The first jump of 611A turned upside down for half a week, becoming the first woman to use platform handstand, while the second jump of 202A turned backwards for a week, which was the highest difficulty since the diving program was launched.

  The reason why Killer dives so well can be said that she won at the starting line because of her favorable weather and natural genes. Killer’s mother is a dance teacher, and her innate motor genes, coupled with the super-high physical flexibility of practicing dance since childhood, give her obvious advantages in diving. In addition, Killer, who is bold by nature, also said that he was particularly love the water and liked swimming since childhood. This boldness surprised everyone when Killer walked into the diving hall for the first time, and immediately won the 10m platform, giving the competitors a modest "duel". In a daily training, the diving hall was suddenly cut off due to an accident, and it was suddenly plunged into darkness. At that time, the staff and players present, especially the girls, screamed with fear and scrambled to climb ashore from the water. At that time, Killer, who was on the shore, jumped into the water and swam in the dark diving hall, exclaiming that "such an opportunity is too rare, swimming in the dark is very exciting", which attracted Gao Hu present to be outdone and jumped into the water.

  People and Peace: Coach Xing Aowei and the judges all found that small gymnastics and diving are connected.

  As the Olympic champion of gymnastics, Xing Aowei still can’t hide the champion’s potential in cross-border diving. In addition to his amazing jump in the preliminary round, he let the audience see the high platform handstand for the first time, and even created a dazzling "anti-heaven" action in the second jump: 720-degree somersault and 180-degree turn, which caused a full house of applause. This action is even more created by Xing Aowei. In the semi-finals, he said that he would continue to carry forward the spirit of innovation, and he confidently threatened to "jump the diving action of the next Olympic Games" if he could advance to the final.

  Xing Aowei has the highest starting line among all the players. As a gymnast of the national gymnastics team and an Olympic gold medal champion, he stood out among all the players from the first day of training. The national diving team and the gymnastics team are veritable neighbors. They used to practice in the same training hall. Therefore, many national diving team members and Xing Aowei have been good friends since childhood, including Li Na, the world diving champion who is the coach in this competition. Therefore, Xing Aowei has no pressure and a sense of formality in the training process. Although gymnastics and diving are two completely different sports, they have a lot in common, especially turning and tumbling, which is why Li Xiaopeng of Prince of gymnastics was specially invited to the jury, and Li Xiaopeng’s position was to comment on diving from a semi-professional perspective. Xing Aowei and Li Xiaopeng are both Olympic champions. Since Li Xiaopeng can be a judge, it can be seen that Xing Aowei’s starting line is high, and their teammates, especially good brothers, let him score in the judges’ scoring.

  Pay more attention to "China Star Jump" official website: http://www.zjstv.com/splash