[Dark Horse Morning Post] Wang Hai sells Hetian jade in the live broadcast room in Li Jiaqi; Hangzhou responded to rumors that live broadcasts were prohibited; Some holiday arrangements were released

Today’s headlines/Toutiao

Wang Hai fakes Li Jiaqi live room and sells Hetian jade.

October 24th, Beijing (released). Wang Hai, a well-known counterfeiter, released a video, saying that Hetian jade sold in the live broadcast room in Li Jiaqi was a fake. According to Wang Hai, consumers bought the Hetian jade necklace of "Yuanyang Jinlou" in the live broadcast room in Li Jiaqi, and the result of NGTC laboratory’s appraisal of the necklace was "carbonate-tremolite jade necklace".

"It’s not Hetian jade at all, and the appraisal certificate is also fake." Wang Hai said that after the consumer (to the merchant) reflected, "Yuanjin Building directly transferred 50,000 yuan to the consumer WeChat, hoping to settle things, but it was rejected by the consumer". It is understood that this product has been removed from the shelves by merchants.

Hangzhou responded to the rumor that live broadcast is prohibited: untrue, there is no such thing.

Recently, the news that "Hangzhou has begun to implement the pilot program of live broadcast with goods in some markets" has been circulated on the Internet, causing concern.

On October 24th, the relevant person in charge of the Hangzhou Municipal Bureau of Commerce responded to the reporter and said, "The so-called ‘ Hangzhou announced the ban on live broadcast of goods ’ ‘ It has already been implemented, and it is forbidden to pilot live broadcast with goods in some markets ’ False, there is no such thing, rumor! (Upstream News)

Notice of the General Office of the State Council on the arrangement of some holidays in 2024

1. New Year’s Day: It is a holiday on January 1st, and it is even closed on weekends. 2. Spring Festival: 8 days’ holiday from February 10th to 17th. Go to work on February 4 (Sunday) and February 18 (Sunday). Encourage all units to implement the system of paid annual leave and arrange employees to rest on New Year’s Eve (February 9). 3. Tomb-Sweeping Day: We have a holiday from April 4th to 6th, lasting for 3 days.

Go to work on Sunday, April 7. 4. Labor Day: May 1st to 5th, with 5 days’ holiday. Go to work on Sunday, April 28th and Saturday, May 11th. 5. Dragon Boat Festival: It is a holiday on June 10th, and even closed on weekends. 6. Mid-Autumn Festival: We will have a holiday from September 15th to 17th, lasting for 3 days. Go to work on Saturday, September 14th. 7. National Day: 7 days’ holiday from October 1 to 7. Work on September 29th (Sunday) and October 12th (Saturday).

Brother Dayang angrily criticized Li Jiaqi for holding merchants hostage

On October 24th, in the "Crazy Xiao Yang Ge" live broadcast room, Da Yang Ge said that Li Jiaqi controlled the price and inventory, which led to the removal of most of the big names in Xiao Yang Ge’s live broadcast room, and the seven bosses became angry on the spot.

Brother Dayang said that there are 100 stocks, and Li Jiaqi sells 70 or 80. Merchants must cooperate with him. If they sell more, they will have the right to hold the merchants hostage, indicating that a platform official is also very helpless. Brother Xiao Yang said that the price of a big brand is lower than that of Li Jiaqi, so it can’t be sold, and the product link can only be downloaded.

Company dynamics

Tesla roof rights protection female car owner claims to win the lawsuit.

On October 25, Zhang Yazhou, the party of "Tesla Roof Rights Protection Female Car Owner", wrote in her personal social account @ Coral in Danshui: "I won the case! From May 2021 to the present, it has lasted for two and a half years, 30 months and more than 900 days.

It can be said that I finally won a victory and saw some light. I believe that justice will not fall from the sky, and we must strive for it by ourselves. "

Xiaomi Automobile will be officially listed in the first half of next year.

On the evening of October 25th, Lei Jun said through his personal platform that Xiaomi Automobile is progressing very smoothly and will be officially listed in the first half of next year. Some insiders said that due to the confidentiality agreement, there are not many A-share companies that have disclosed that they have reached a product supply relationship with Xiaomi Automobile, except Guangting Information and Sanan Optoelectronics.

"Under the water, more listed companies have actually entered the smart new energy vehicle ‘ Rice chain ’ In the middle. " It is reported that this year, the first-class and second-class battery suppliers of Xiaomi Automobile have already finalized Chuangxin Airlines and Contemporary Amperex Technology Co., Limited.

Crazy Xiao Yang Ge and the company behind Li Jiaqi have actually set up a joint venture.

On October 24th, topics related to "Crazy Brother Xiao Yang" and two head anchors, Li Jiaqi, boarded a hot search. It is understood that Li Jiaqi is a partner of Meiwan Network Technology Co., Ltd., and Xiao Yang’s real name is Zhang Qingyang.

Enterprise search App shows that the company owned by Crazy Xiaoyangge and the company owned by Meiwan have established a joint venture. The company is called Hangzhou Meiyangyang Technology Co., Ltd., which was established in July 2022 with Wang Teng as its legal representative and registered capital of 5 million yuan. Its business scope includes Internet sales supply chain management services, brand management and marketing planning.

Huawei responded that it will fully take over the cross-border sales system.

On October 25, some media reported that the sales system of the international community once again ushered in a major adjustment. All the salespeople in the world will join Huawei’s wholly-owned subsidiary "Shenzhen Huitong Business Co., Ltd." and become Huawei’s supernumerary employees, and all the signing changes will be completed next year.

In response to this matter, AITO Auto said that the car has been loved and recognized by consumers since its listing. In order to provide consumers with a better sales and service experience, Huawei will further increase the construction of direct stores. The report in LatePost that "Huawei will take over the sales system in the world" is untrue news.

Spend 4.5 billion to buy Jianghuai factory? Weilai or get rid of OEM and build a car independently

Jianghuai Automobile announced that the company intends to transfer some assets through public listing, involving the inventory, fixed assets, projects under construction, buildings and land use rights of the third factory of passenger car company, and the structures and equipment assets of Xinqiao factory of passenger car company. The proposed listing price is 4.498 billion yuan, the value-added is 286 million yuan, and the value-added rate is 6.79%.

It is reported that Weilai intends to acquire the above assets of Jianghuai Automobile. This incident has attracted the attention of the industry. The industry believes that Weilai, who has not been able to achieve the independence of building a car, decided to "divest" Jianghuai and rely on himself. (China Times)

Causes and compensation scheme of the failure of the language bird publishing service under ant group

On the evening of October 24th, Yuque, an online document editing and collaboration tool of Ant Group, apologized for the major service failure that lasted for more than 7 hours the day before, and announced the cause of the failure and compensation scheme. Yuque said that on the afternoon of October 23, when the data storage operation and maintenance team serving Yuque was upgrading, the production environment storage server in East China was mistakenly offline due to a bug in the new operation and maintenance upgrade tool.

Yuque will provide compensation to all users affected by the failure, give 6 months of membership service to individual users of Yuque, and make a separate compensation plan for users of Yuque Space. In terms of language birds, it is emphasized that all data of users have not been lost.

Great Wall Motor Weipai invested 500 million yuan to develop a high-end new energy MPV exclusive platform.

Recently, the first product of Great Wall Motor Wei brand MPV category — — Wei brand Alpine MPV is listed. The new car is divided into three models, and the price range is 335,800 yuan-405,800 yuan. It is reported that in order to build this product, Wei Pai spent 500 million yuan to develop the world’s first exclusive platform for high-end new energy MPV. (Securities Times)

Alibaba International Station will launch the Southeast Asian National Pavilion to launch B2B demand.

Alibaba International Station will officially launch the Southeast Asia Pavilion on October 31, helping China sellers transform B2B exports through nationalization and continue to increase the Southeast Asian market. It is predicted that with the introduction of new Indonesian regulations on e-commerce, the uncertainty of e-commerce market in Southeast Asia has intensified, and the transformation of B2B export has become one of the choices of a large number of cross-border sellers in China.

Cainiao announced that AliExpress released "Six Cross-border Logistics Guarantees"

On the morning of October 25th, Cainiao International Express Head Merchants Exchange Conference, Cainiao and AliExpress jointly released "Six Cross-border Logistics Guarantees" to improve the timeliness and service of cross-border logistics in double 11, helping merchants to greatly promote the growth of single volume.

In September this year, Cainiao and AliExpress’s "Global 5-Day Express" products officially landed in Britain, Spain, the Netherlands, Belgium and South Korea, which brought significant growth to the European and South Korean markets. It is reported that, as "Five Days Arrival" is the first time to usher in the single-volume exam in double 11, Cainiao International Express will continue to improve the achievement rate and service quality of "Five Days Arrival" and ensure that the logistics timeliness will not be degraded. In terms of logistics infrastructure, rookie will continue to ensure and promote logistics timeliness through various measures such as speeding up the first kilometer timeliness, adding 10 trunk warehouses, expanding the storage area of warehouses, and improving the service timeliness and production capacity of the three warehouses. (Sina Technology)

Character view

JD.COM executives responded by calling Li Jiaqi: boycott the overlord clause of the floor price agreement of the whole network.

On October 25th, the person in charge of household appliances in JD.COM issued a message in the circle of friends, supporting the JD.COM purchasing and selling personnel who had publicly shouted "Choose One from Two" in the circle of friends. The person in charge said, "The circle of friends that our small household appliances were sold yesterday is the epitome of every employee in our business department’s insistence on safeguarding the rights and interests of consumers at low prices.

In the face of the chaos that some head anchors deprive consumers of the right to enjoy real low prices for their own selfish interests, we must resist the overlord clause of the "bottom price of the whole network" agreement! All the small partners of the Home Appliances and Home Appliances Division have come forward to make consumers feel the reality of the price in JD.COM!

BYD responded that Wang Chuanfu stepped down as the chairman of the subsidiary again.

Recently, Wang Chuanfu’s resignation as the legal representative and chairman of Shenzhen BYD Lithium Battery Co., Ltd. (hereinafter referred to as "BYD Lithium Battery") has aroused market concern.

In this regard, on October 25, BYD responded to the First Financial Reporter that recently, the Group has successively changed the legal representative and chairman of its subsidiaries into actual business leaders to simplify the administrative process and facilitate the company’s various businesses. Except for the change of legal representative and chairman, the company’s operation and shareholding structure have not changed, and the development of various businesses of the company has not been affected. 

The order for M9 has exceeded 15,000 Yu Chengdong: Smart lights will get on the bus.

According to AITO Auto official, the brand’s new flagship SUV has received more than 15,000 blind orders. Although it has not yet been listed, it has attracted much attention from the outside world.

Yu Chengdong also shared the news at Weibo, and said: Not only did he bring the M9 with high-end luxury design, but he also brought the industry-leading Huawei smart car technology, including the HarmonyOS smart cockpit, Huawei’s advanced intelligent driving technology, and the smart lights that have attracted great attention recently, to this car.

Hu Zhenyu, founder of Nut Projection, is restricted from high consumption.

On October 25, the reporter learned that the Minhang District People’s Court in Shanghai has included Hu Zhenyu, the founder of Nut Projection, in the list of untrustworthy people. The reporter inquired about the China Implementation Information Open Network and found that the Minhang District People’s Court of Shanghai filed a case on August 14, 2023 to implement the labor arbitration of "Shanghai Jinglan Technology Co., Ltd.". Because the company failed to fulfill the payment obligations specified in the effective legal documents within the time specified in the notice, it took measures to restrict consumption of Shanghai Jinglan Technology Co., Ltd.

At the same time, Wu Zhan, the legal representative of Shanghai Jinglan Technology Co., Ltd., and Hu Zhenyu, the main person in charge, were included in the list of untrustworthy people. (Interface News)

Lan Shili, the actual controller of soda in Wuhan No.2 Factory, was compensated by the state for about 590,000 yuan.

On October 25th, Lan Shili, the soda controller of Wuhan No.2 Factory, announced that he had previously applied for state compensation and had obtained the criminal compensation decision issued by Guangzhou Procuratorate.

According to the decision, Lan Shili applied for compensation of 502,000 yuan, and finally received compensation totaling about 590,000 yuan. Lan Shili said at the scene that the compensation was acceptable and decided to donate it.

Shen Nanpeng believes that young people should be given opportunities for social mobility.

On October 24th, the 7th Future Investment Initiative (FII) Summit opened in Riyadh, Saudi Arabia. Shen Nanpeng believes that young people are the future of economic growth, and more opportunities for social mobility should be created for them. He said that the performance of the younger generation of entrepreneurs and entrepreneurs has made them more confident about the future.

The society needs to provide them with all kinds of support, including entrepreneurial guidance and financial resources. Because the development of the world is not only driven by large companies, but also by small and medium-sized enterprises trying to break the status quo of various industries. In addition, he believes that it is also very important to give young people opportunities for social mobility. (Rui Jian)

Toyota CEO: Electric cars are our future.

Toyota CEO Hiroshi Sato said at the opening ceremony of the Tokyo Motor Show on Wednesday that the battery concept car will define the future of Toyota. In his 15-minute speech, Sato focused on electric vehicles, and did not agree with his predecessor Akio Toyoda that hybrid systems and other technologies such as hydrogen will also help Toyota move towards a carbon-neutral future.

When talking about electric cars, Sato said: "They are not only environmentally friendly, but also provide driving pleasure and diverse experiences." "This is the future waiting for us," he said when unveiling several electric concept cars of Toyota. (Global Market Broadcast)

Cao Peng, President of jingdong cloud Business Department: 80% of the systems in JD.COM have been replaced by localization.

On the morning of October 25th, Cao Peng, President of jingdong cloud Business Department, said at the "2023 JD.COM Supply Chain Finance Technology Conference" that 80% of JD.COM’s systems have been replaced domestically this year.

"We believe that the big model should not be just a toy, but should create more industrial value and should be improved in marketing, delivery and interaction." Cao Peng said. It introduced that today’s multi-modal digital people can cover the whole scene of products and services, and also developed a computing platform to make the big model more inclusive. (Sina Technology)

Does Microsoft’s increase in AI investment affect the improvement of medium and long-term gross profit? CFO response

At the Microsoft performance meeting on the 25th, Gregg Moskowitz, an analyst at Mizuho Securities, mentioned that some investors were worried that with the increase of Microsoft’s investment in AI, whether the company has the ability to continuously promote the improvement of gross profit in the medium and long term. Amy Hood, CFO of Microsoft, stressed that Microsoft has a complete and unified infrastructure, and every penny spent will bring huge leverage from the platform to all levels. In other words, whenever and wherever demand arises — — Whether in SaaS, infrastructure, workload training, or Bing workload, Microsoft can quickly use Microsoft’s infrastructure to drive revenue.

Therefore, although Microsoft’s increased investment in AI will indeed have an impact on the cost of goods sold, Microsoft hopes to ensure high leverage and ensure that investors can see sustained and stable income growth. There may be occasional fluctuations, this business has risen slightly, and other businesses have not met expectations at all. However, Microsoft will minimize fluctuations and ensure that all business lines develop as balanced as possible. Amy Hood said that she believes that the performance over the past years can also prove this point. (Sina Technology)

Google CEO: AI and search assistant will be development opportunities in the next decade.

When talking about AI at Google’s third-quarter performance meeting today, Google CEO sundar pichai said that in the next decade, both AI and search assistant will be very important development opportunities for Google, and the company will continue to invest to improve the user experience. I believe that the value will show itself in the future.

In time, Google will probably see new business models, including the application of subscription model in Youtube business. Pichai said that Google also has the application of artificial intelligence technology in the cloud business, and the management is very optimistic about this. (Sina Technology)

Capital insight

Extreme Rabbit Express will be listed on the main board of the Stock Exchange on Friday.

The IPO price of Extreme Rabbit Express Hong Kong is set at HK$ 12 per share and will be listed on the main board of the Stock Exchange on October 27th. The net proceeds from the offering are estimated to be HK$ 3.53 billion.

The Hong Kong Stock Exchange has put forward suggestions and started consultation on GEM reform, and the revised listing rules will be implemented in the first quarter of next year.

Lee Ka Chiu John, Chief Executive of the Hong Kong Special Administrative Region (HKSAR) said that HKEx has put forward suggestions and started consultations on the reform of GEM, including simplifying the transfer mechanism to the main board and increasing the listing channels for scientific research companies. After considering public opinions, HKEx will implement the revised listing rules in the first quarter of next year. (SSE)

Xihuang Group completed round B financing.

On October 25th, Hangzhou Xihuang Technology Group Co., Ltd. completed round B financing, which was jointly led by Tiger Global Management and Taiming Venture Capital. This financing focuses on the global market layout and mergers and acquisitions.

Founded in 2016, Xihuang Technology is committed to providing information software development, big data technology research and development, natural speech processing, AI algorithm recommendation and commercial application, short video global traffic digital solutions and accurate customer empowerment for governments, industries and enterprises. (national business daily)

Tianbing Technology completed hundreds of millions of RMB C+ rounds of financing.

According to Tianbing Technology WeChat official account, Tianbing Technology recently announced the completion of several hundred million RMB C+ rounds of financing. This round of financing was led by CITIC Jiantou Investment, followed by CCTV Fund, Deyue Investment, Hongfu Assets, Suzhou Asset Management and First Development Venture Capital.

This round of funds will be used for the batch production of Tianlong-2 medium-sized liquid rocket, the development and first flight of Tianlong-3 large-scale liquid launch vehicle and engine, the key research test of recyclable technology, the construction of special launch station for Tianlong-3, the construction of batch production capacity and the improvement of talent team. (national business daily)

Science and technology foresight

Xiaomi Group’s Hong Kong stocks rose by more than 5%, and it will launch Snapdragon’s new flagship mobile phone in the world.

On the morning of October 25th, Xiaomi Group’s Hong Kong stocks rose more than 5% to HK$ 13.62 per share. In the news, Lu Weibing, president of Xiaomi, said at Qualcomm Snapdragon Summit that Xiaomi will launch its flagship mobile phone with Qualcomm Snapdragon 8Gen 3 processor in the world. Xiaomi’s new flagship 14 will be officially released at 19: 00 pm on October 26th, Beijing time.

Vivo X100 series will be the first model equipped with Hynix memory chip LPDDR5T.

On October 25th, the interface news got the news from the supply chain. vivo X100 series will become the first flagship model equipped with Hynix LPDDR5T memory in the world. Compared with the mainstream LPDDR5X memory, the reading speed of LPDDR5T is increased by 13%, making it the fastest mobile DRAM in the industry.

Judging from the news released at present, vivo has cooperated with Mediatek and equipped with Tianji 9300 platform, which means that vivo X100 series has outstanding performance in CPU, GPU, APU, ISP and memory. (Interface News)

Xpeng Motors rose more than 8% to launch flying cars, humanoid robots and the first MPV.

On October 24th, Tucki Science and Technology Day "enlarged the move", and launched a humanoid biped robot PX5 developed by Xpeng Motors, a mass-produced land-air integrated flying car and the first MPV "Tucki X9".

2023 Shanghai Auto Show: Tiggo 9 C-DM debuted.

  [car home New Car Launch] At the Shanghai Auto Show, which opened on April 18th, Chery Tiggo 9 C-DM made its official debut. The new car will be equipped with a hybrid system consisting of Kunpeng Power 2.0TGDI engine and 3-speed DHT gearbox, with a pure electric battery life of 165km, a fuel consumption of 4.2L/100km and a comprehensive cruising range of over 1,400 km.

Home of the car

Home of the car

  Looking at the new car, there is not much difference between it and the fuel version. The appearance adopts Chery family design style, the front face adopts polygonal large-size front grille, and the interior is supplemented by straight waterfall chrome trim, in which the trim is also twisted to enhance the three-dimensional sense of modeling and the visual effect is more atmospheric. In addition, the new car is also equipped with a long and narrow headlight group, which is matched with a plurality of ribs raised by the engine and a three-stage air intake below, enhancing the luxury of the whole car.

Home of the car

Home of the car

  The design of the tail is more generous. From the detailed design, it can be found that the car adopts many popular elements, such as penetrating taillight group, large-size spoiler at the roof and two exhaust layouts on both sides. At the same time, the car also adds chrome trim strips under the taillights, which improves the exquisiteness of the tail shape. At the same time, the C-DM version has added an exclusive logo.

Home of the car

  Dual-screen design is adopted in the car, based on Qualcomm Snapdragon 8155 chip +5G Gigabit Ethernet, which brings high car performance; The zigzag air conditioning air outlet at the bottom of the screen is very distinctive. The car has 27 air outlets +B-pillar air outlets. In addition, the car does not have too many physical buttons, and it seems that virtual buttons are used in its steering wheel, gear handle and other areas, which is full of technology.

  In terms of power, the fuel version is equipped with Kunpeng Power 2.0TGDI engine, with a maximum power of 187kW, a peak torque of 390N·m and a comprehensive fuel consumption of 7.7L/100km. The power of the C-DM version is unknown, but this super hybrid drive technology also supports the four-wheel drive control system. The four-wheel drive model accelerates from 0 to 100 km/h in only 4.26 seconds, has a pure battery life of 165km, a fuel consumption of 4.2L/100km, and a comprehensive cruising range of more than 1,400 km. (Compile/car home Guo Chen)

Krypton’s revenue increased by 140% in the first half of the year, with a loss of 16 billion yuan in two and a half years and a valuation of nearly 100 billion yuan.

  On November 9, 2023,Zeekr Intelligent Technology Holding Limited (hereinafter referred to as "") is in the United States.The Securities and Exchange Commission (SEC) publicly disclosed the prospectus, which is to be listed on the New York Stock Exchange with the stock code "ZK" and the underwriter as follows.Merrill Lynch, CICC, BOC, HSBC, ICBC, Puyin, etc.

  The prospectus shows that it is a fast-growing electric vehicle (BEV) technology company. Since its establishment, Krypton has been focusing on the innovation of BEV architecture, hardware, software and new technology applications.

  The prospectus shows that before this issuance,The proportion of shares held in extreme krypton is 54.7%; Geely International (Hong Kong) Co., Ltd. holds 13.2%; The shareholding ratio of GHGK Innovation Co., Ltd. is 9.8%. In the directors andLi Shufu holds 80.4% of the shares and An Conghui holds 3%.

  Krypton intends to use the raised funds for the following purposes: about 45% will be used to develop more advanced BEV technology and expand the product portfolio; About 45% is used for sales and marketing, as well as expanding the company’s service and charging network; About 10% is used for general enterprise purposes, including working capital requirements, to support the company’s business operation and growth.

  On August 25th this year, the website of China Securities Regulatory Commission published the Notice on the Overseas Issuance and Listing of Zeekr Intelligent Technology Holding Limited. According to the notice, the CSRC confirmed the filing information of overseas issuance and listing, and it plans to issue no more than 926,074,300 ordinary shares and list them on the New York Stock Exchange.

  According to the prospectus, extreme krypton will be realized in 2020, 2021 and 2022 respectively.3.185 billion yuan, 6.528 billion yuan and 31.899 billion yuan;They are 104 million yuan,-4.514 billion yuan and-7.655 billion yuan respectively.

  From January to June, 2023, Krypton realized an operating income of 21.27 billion yuan, compared with 9.012 billion yuan in the same period of last year, which was calculated to increase by 13.601% year-on-year. The net loss was 3.871 billion yuan, compared with 3.085 billion yuan in the same period last year.

  In 2021, 2022 and January-June, 2023, the accumulated loss of Krypton was 16.04 billion yuan.

  In addition, on February 13th this year, Krypton released the official news of "Krypton completed $750 million Series A financing" in official website. It is announced in the article that Krypton has completed the Series A financing of $750 million, with a post-investment valuation of $13 billion. This round of financing was conducted by Professor Amnon Shashua, founder and CEO of Autopilot Technology Company Mobileye.Yuexiu industryFive ecological partners, namely, Trade Fund and Quzhou Xin An Zhi Creation Fund, participated in the investment.

  The proposed listing in the US is valued at nearly 100 billion yuan.

  According to the prospectus, Krypton is a fast-growing BEV technology company. Since its establishment, Krypton has been focusing on the innovation of BEV architecture, hardware, software and new technology applications.

  Krypton started its business as a department in October 2017. Under the leadership of co-founders Li Shufu, An Conghui, Li Donghui and Gui Shengyue, the company registered Krypton Intelligent Technology as an exempted limited liability company in March 2021 as a holding company of Krypton in accordance with the laws of Cayman Islands. Krypton said in the prospectus that the reason for seeking and listing separately is the different brand positioning of the company and the independence of operation, management and finance.

  In April 2021, Extreme Krypton Innovation (currently a wholly-owned subsidiary of Extreme Krypton Intelligent Technology) was incorporated under the laws of the British Virgin Islands. During the same period, Krypton Technology (currently a wholly-owned subsidiary of Krypton Innovation) was incorporated under the laws of Hong Kong. In April 2021, Krypton announced the launch of the first BEV model ZEEKR 001, and the delivery began in October 2021.

  According to the prospectus, before this issuance, Geely Automobile held 54.7% of the shares; Geely International (Hong Kong) Co., Ltd. holds 13.2%; The shareholding ratio of GHGK Innovation Co., Ltd. is 9.8%. Among the directors and senior executives, Li Shufu holds 80.4% of the shares and An Conghui holds 3%.

  Krypton intends to use the raised funds for the following purposes: about 45% will be used to develop more advanced BEV technology and expand the product portfolio; About 45% is used for sales and marketing, as well as expanding the company’s service and charging network; About 10% is used for general enterprise purposes, including working capital requirements, to support the company’s business operation and growth.

  On August 25th this year, the website of China Securities Regulatory Commission published the Notice on the Overseas Issuance and Listing of Zeekr Intelligent Technology Holding Limited. According to the notice, the CSRC confirmed the filing information of the overseas issuance and listing of Krypton, and Krypton plans to issue no more than 926,074,300 ordinary shares and list them on the new york Stock Exchange.

  In addition, on February 13th this year, Krypton released the official news of "Krypton completed $750 million Series A financing" in official website. It is announced in the article that Krypton has completed the Series A financing of $750 million, with a post-investment valuation of $13 billion. This round of financing was invested by Professor Amnon Shashua, founder and CEO of Autopilot technology company Mobileye, and five ecological partners, namely Yuexiu Industrial Fund, Trading Fund and Quzhou Xin An Zhi Creation Fund.

  Loss of 16 billion yuan in two and a half years

  According to the prospectus, in 2020, 2021 and 2022, the company achieved operating income of 3.185 billion yuan, 6.528 billion yuan and 31.899 billion yuan respectively; The net profit was 104 million yuan,-4.514 billion yuan and-7.655 billion yuan respectively.

  From January to June, 2023, Krypton realized an operating income of 21.27 billion yuan, compared with 9.012 billion yuan in the same period of last year, which was calculated to increase by 13.601% year-on-year. The net loss was 3.871 billion yuan, compared with 3.085 billion yuan in the same period last year.

  In 2021, 2022 and January-June, 2023, the accumulated loss of Krypton was 16.04 billion yuan.

  In 2020, 2021, 2022 and January-June of 2023, the net cash flow generated by Krypton’s business activities was 415 million yuan, 630 million yuan,-3.524 billion yuan and 350 million yuan respectively.

  fine and soft hair or feathersFor two consecutive years.

  From January to June in 2020, 2021, 2022 and 2023, extremely krypton hair26.7%, 15.9%, 7.7% and 10.5% respectively.

  In 2021, 2022 and January-June 2023, the gross profit margin of automobile sales business was 1.8%, 4.7% and 12.3% respectively (the gross profit margin of automobile sales business in January-June 2022 was 4.7%).

  Krypton said in the prospectus that the company’s gross profit margin decreased from 26.7% in 2020 to 15.9% in 2021, which was mainly due to the increase in income contribution from automobile sales. As the company just started to deliver ZEEKR 001 in October 2021, the gross profit margin of automobile sales was low. The gross profit margin of automobile sales in 2021 is 1.8%, andAnd other components in Mao Lijiao will decrease by 6% in 2020.

  The gross profit margin of the company decreased from 15.9% in 2021 to 7.7% in 2022. The main reason for the decline is the substantial growth of the company’s automobile sales business, with a gross profit margin of 4.7% in 2022.

  The gross profit margin of the company increased from 9.7% in the six months ended June 30, 2022 to 10.5% in the six months ended June 30, 2023. This growth is mainly attributed to the substantial growth of the company’s automobile sales business. In the six months to June 30, 2023, the gross profit margin of the automobile sales business was high, accounting for 12.3%.

Must-read in the morning: Shenzhen State-owned Assets Supervision and Administration Commission made a heavy voice to support Vanke (November 7)

  [Market Review]

  The three A-share indexes collectively closed up on the last trading day. At the close, the Shanghai Composite Index rose by 0.91%, the Shenzhen Component Index rose by 2.21%, the North Stock Exchange 50 rose by 2.4%, the Growth Enterprise Market Index rose by 3.26%, and the turnover of the Shanghai and Shenzhen stock markets was 1,064.2 billion yuan. More than 4,600 stocks in the two cities rose. Northbound funds bought a net of 5.273 billion yuan throughout the day. On the theme of the sector, media, games, securities, computing power leasing and other sectors were among the top gainers; Oil and gas, coal, pork and other plates are floating green.

  [breaking news]

  OpenAI has launched a customized version of ChatGPT, which will be launched in the GPT store soon.

  On November 6th, local time, OpenAI announced the launch of a customized version of ChatGPT in official website. According to reports, anyone can easily create their own GPT-without coding. From now on, users can create GPTs and share them publicly. In addition, later this month, OpenAI will launch the GPT store.

  Xinhua News Agency: Accelerating the construction of a financial power is an inevitable choice for development.

  On November 6, Xinhua News Agency published an article "Accelerating the construction of a financial power is an inevitable choice for development", which pointed out that to accelerate the construction of a financial power, finance should provide high-quality services for economic and social development. At present, China has embarked on a new journey of building a socialist modern country in an all-round way. Whether it is to solve the problem of insufficient development imbalance, to build a modern industrial system, and to continuously improve people’s quality of life, it needs high-quality financial development as a strong support. It is necessary to implement the "three efforts" put forward by the Central Financial Work Conference, strive to create a good monetary and financial environment, strive to build a modern financial institution and market system, and strive to promote high-level financial opening. We should take serving the real economy as the foundation of our career, anchor the requirements of high-quality economic development, and do five major articles on technology and finance, green finance, inclusive finance, pension finance and digital finance, so as to provide higher-quality, more efficient and safer financial services for the development of the real economy, and let the high-quality financial development lay a solid foundation and add vitality to China’s economic and social development.

  Asked the car to issue a document, Popular Science AEB: Reject "invalid braking" and don’t fight meaningless arguments.

  According to Sina Technology, during this period, the "AEB dispute" between Xpeng Motors CEO He Xiaopeng and Huawei Yu Chengdong has become heated. This morning, Xpeng Motors officially started the "popular science mode" directly, and in the evening, the "official popular science" from AITO car also came. The official of the car company said that under the blessing of Huawei ADS 2.0, the AEB of the car company "has its own discretion" and refuses "invalid braking", which has become a function respected by every car owner.

  The ninth batch of 41 kinds of drugs successfully purchased by the state, and the average price of the selected drugs was reduced by 58%.

  According to CCTV news, today (November 6), the ninth batch of centralized drug procurement organized by the state produced a quasi-winning result in Shanghai. 41 kinds of drugs were successfully purchased in this collection, and the average price of the drugs to be selected was reduced by 58%. It is estimated that the annual drug cost can be saved by 18.2 billion yuan. This collection covers infections, tumors, cardiovascular and cerebrovascular diseases, gastrointestinal diseases, mental diseases and other common and chronic diseases, as well as key drugs such as emergency rescue drugs and short-term drugs. Lenalidomide capsules for the treatment of multiple myeloma were collected in time after the patent expired in May, 2023. Each capsule (25mg) was reduced from 200 yuan to 15 yuan on average, which saved about 3880 yuan per month, and the burden on patients was obviously reduced. Rabeprazole oral sustained-release dosage form and esmomeprazole magnesium enteric-coated dry suspension for the treatment of gastrointestinal diseases have significantly reduced the prices of key drugs for rational drug use in three countries. Five kinds of short-term drugs and emergency drugs, such as amiodarone injection for arrhythmia, dopamine injection for shock rescue and oxytocin injection for induced labor, stabilize the enterprise’s expectation through "quantity" procurement, and realize the multi-objective balance of guaranteed supply and reasonable price reduction.

  Central Bank: The work of reducing the interest rate of existing mortgage loans has been basically completed.

  According to a document issued by the Monetary Policy Department of the People’s Bank of China on November 6, the work of reducing the interest rate of existing mortgage loans has been basically completed. The interest rate of existing mortgage loans exceeding 22 trillion yuan has been lowered, with an average decrease of 0.73 percentage point, benefiting more than 50 million households and 150 million people, and reducing the interest expenditure of borrowers by 160-170 billion yuan every year, with an average annual decrease of 3,200 yuan per household.

  Vanke: Domestic and foreign debts will be guaranteed to be paid on schedule, and the capital situation will be ensured to be safe.

  In the face of the recent irrational fluctuations in Vanke’s bonds, on November 6th, Vanke held a third-quarter performance briefing meeting with domestic and foreign financial institutions. Vanke said that domestic and foreign debts would be guaranteed to be paid as scheduled, and the market did not need to worry about it at all. Vanke’s management stressed that Vanke has always maintained a normal daily rolling cash flow management and stress test, which can know and control the capital situation in real time and ensure the company’s safety through pre-plans.

  Shenzhen state-owned assets include Vanke in the scope of statistical statements, and its profits account for over 30% of Shenzhen state-owned assets.

  Vanke held an exchange meeting with financial institutions. At the meeting, Ye Xinming, a member of the Party Committee of Shenzhen State-owned Assets Supervision and Administration Commission, said, "Vanke is an important member of Shenzhen State-owned Assets System. Shenzhen State-owned Assets has included Vanke in the scope of statistical statements. Vanke’s total assets, operating income and profits account for more than 30% of Shenzhen State-owned Assets. Vanke’s business development has a significant impact on Shenzhen State-owned Assets. At the same time, the State-owned Assets Supervision and Administration Commission of the Shenzhen Municipal Government trusts the management. As a native of Shenzhen, Vanke has a healthy corporate culture and has a correct judgment on the trend of the real estate industry. "

  Shenzhen SASAC put forward specific measures to support Vanke: actively organize municipal state-owned enterprises to participate in bond subscription in a market-oriented way.

  On November 6th, Vanke held an online meeting to exchange information with financial institutions on its operation and recent bond price fluctuations in the secondary market. At the meeting, the State-owned Assets Supervision and Administration Commission of Shenzhen not only expressed its support for Vanke, but also put forward specific support measures: under the principle of marketization and rule of law, use all possible means and ways to jointly deal with possible risks with Vanke, including but not limited to accelerating the development and construction of Vanke’s large-scale urban renewal projects through transferee and cooperative development; Improve the liquidity of all kinds of investment real estate held by Vanke through coordination and cooperation; Cooperate with Vanke to optimize the long-term equity investment structure; Actively organize municipal state-owned enterprises to participate in bond subscription in a market-oriented way; Actively coordinate various financial institutions to increase their support for Vanke’s financing.

  Shenzhen State-owned Assets Supervision and Administration Commission: Vanke has sufficient security, which will help Vanke to actively respond in case of extreme circumstances.

  According to The Paper, on November 6th, Vanke held an online meeting to exchange business information with financial institutions and recent bond price fluctuations in the secondary market. At the meeting site, the State-owned Assets Supervision and Administration Commission of Shenzhen stated that Vanke has sufficient security, no financial risks and management risks, and is an important member of Shenzhen’s state-owned assets system. If there is a need or extreme situation, we have full confidence, sufficient financial resources and tools to help Vanke actively respond through all possible market-oriented and legal means.

  Regulate short-term health insurance business again: words such as "low premium" and "high guarantee" should not be used for improper publicity.

  According to the Securities Times, on November 6, the regulatory authorities issued a document to insurance companies to remind them of the risks related to short-term health insurance products and further standardize the short-term health insurance business. It is required to clearly inform and prompt consumers about the deductible, liability, payment ratio, surrender agreement, premium payment method and other important contents of the product when selling. Words such as "the premium is as low as (minimum) X yuan", "from X yuan per month", "the guarantee is as high as (maximum) X million" and "from (minimum) to (maximum)" should not be used for improper publicity. For the business underwritten through the Internet, the insured will clearly inform him that the insurance process has been completed after completing the insurance process for a single product. Words such as "guarantee perfection", "product upgrade" and "guarantee promotion" should not be used to improperly guide the insured to carry out new insurance or preservation actions. It is not allowed to hide or hide the entrances such as surrender and security in disguised form by telephone call back or customer service follow-up, so as to ensure the smooth and barrier-free service process such as surrender. At the same time, the regulatory authorities suggest that if short-term health insurance products pay commissions and expenses based on the annual total premium, it is necessary to guard against arbitrage risks caused by the high surrender rate of business.

  Chen Shaojie, the 39-year-old CEO of Betta, lost contact last month. Insiders of Betta: The company is operating normally and has not been affected.

  A number of people familiar with the matter confirmed to reporters that Chen Shaojie had lost contact in October. As for the reason of losing contact, it is rumored in the industry that Chen Shaojie’s loss of contact may be related to the "Changsha Rural Death Squad" in the previous live broadcast of fighting fish. An insider of Betta told reporters that at present, the company’s operations are all normal and have not been affected. Earlier on October 13th, the official "Legal Compliance Department of Social Products" issued a document saying that recently, the person in charge of a large-scale live broadcast platform was arrested by an organ in Sichuan for allegedly opening a casino, which triggered many speculations. On November 6th, the reporter called the person in charge of WeChat official account and the team of Kenting Law Firm. The other party said that the pushed article was not directly related to the loss of the CEO Chen Shaojie of Betta, and the article has been deleted. (The Paper)

  Central Bank: Continue to improve the marketization of mortgage interest rate to better support rigid and improved housing demand.

  The Monetary Policy Department of the People’s Bank of China published a column entitled "Continuously Deepening the Reform of Interest Rate Marketization". Among them, it is proposed to continuously improve the marketization of mortgage interest rates and better support rigid and improved housing demand. Resolutely implement the requirements of promoting a virtuous circle of finance and real estate, continuously improve the differentiated housing credit policy, give play to the role of the dynamic adjustment mechanism of the new first home loan interest rate policy, continue to expand the independent pricing space of mortgage interest rates in an orderly manner, and support the city government to make good use of the policy toolbox for the city. Insist on promoting the development of financial innovation on the track of marketization and rule of law, urge financial institutions to continue to implement the effect of reducing the interest rate of stock mortgage, straighten out the relationship between incremental and stock mortgage interest rates, reduce the interest burden of residents, and support investment and consumption.

  ASML, a giant in mask aligner, the Netherlands: He is very optimistic about the business in China next year.

  In an exclusive interview during his stay in China International Import Expo(CIIE), Shen Bo, global senior vice president of Dutch mask aligner giant ASML and president of China, said that the business in China, ASML has grown rapidly this year. It is expected that China will account for more than 20% of ASML’s global revenue in the whole year, and he is also very optimistic about his business in China next year. Shen Bo said: "We recruited more than 200 people in China in 2023. In 2024, we expect that the business development will continue to bring a lot of demand, and the expansion of our team should be a relatively large scale." (China Daily)

  HarmonyOS Zhixing released the new product of Zhijie S7 on November 9, and opened the pre-sale on the same day.

  According to HarmonyOS Zhixing official micro-news, the HarmonyOS Smart Car Technology Ecological Alliance gathered momentum on November 9. HarmonyOS Zhixing’s first high-energy smart car, Zhijie S7, will be pre-sold on the same day.

  Shanghai take-out medicine pilot medical insurance payment

  According to The Paper, Shanghai take-out medicine can be paid by medical insurance. On November 6th, the reporter learned from people familiar with the matter that the relevant departments in Shanghai have contacted Hungry and Meituan platform to pilot the payment of medical insurance for Internet pharmacies, and dozens of pharmacies have been included.

  He Lifeng will visit the United States

  According to the website of the Ministry of Foreign Affairs, Foreign Ministry Spokesperson Wang Wenbin announced that at the invitation of US Treasury Secretary Yellen, He Lifeng, member of the Political Bureau of the Communist Party of China (CPC) Central Committee, Vice Premier the State Council and Chinese leader of China-US economic and trade relations, will visit the United States from November 8 to 12.

  He Lifeng has served as director of the Office of the Central Financial Committee and secretary of the Central Financial Work Committee.

  According to the Financial Times reported on November 6th, on November 3rd, the Central Financial Work Committee held a meeting to convey the spirit of studying the Central Financial Work Conference. He Lifeng, director of the Office of the Central Financial Committee and secretary of the Central Financial Work Committee, attended the meeting and delivered a speech, stressing that studying and implementing the spirit of the Central Financial Work Conference is the most important political task in the financial system at present, and the leading comrades of party committees (party groups) of financial institutions should take the lead in learning, preaching and implementing it, so as to drive the whole system to go deep and practical in implementing the spirit of the conference. According to the above report, He Lifeng has served as the director of the Office of the Central Financial Committee and the secretary of the Central Financial Work Committee.

  [Important Announcement]

  [Institutional point of view]

  [A little knowledge every day]

"Ideal Shines on China": There are both ideal characters and ideal characters | Discussion.

Lighting up the screen with "ideal", the series of short drama "Ideal Shines on China" records the party’s century-old glory through 40 groups of characters and flash stories in different periods, and vividly explains what is ideal and why China.

Author: He Cha

The theme key work "Ideal Shines on China" planned and organized by the State Administration of Radio and Television to celebrate the centenary of the founding of the Communist Party of China (CPC) recently came to an end. As a series of short plays, the drama runs through a hundred years through 40 groups of characters and flash stories in different periods, vividly showing the magnificent revolutionary picture scroll and the struggle story of dreaming on the road of the Communist Party of China (CPC)’s hundred-year growth, and igniting the "ideal" fire of many audiences.


On July 29th, the seminar "Ideal Shines on China" sponsored by China Television Art Committee, Propaganda Department of Hunan Provincial Committee of the Communist Party of China and Hunan Radio, Film and Television Group was held in Beijing. At the meeting, participants exchanged views on the creative experience, theme presentation and artistic innovation of the play.

The ideal shines on China, and one sentence embodies surging and passion. To celebrate the 100th anniversary of the founding of the Communist Party of China (CPC), the State Administration of Radio, Film and Television launched the theme exhibition "Ideal Shines on China", covering TV series, programs, documentaries and online audio-visual works. Gao Changli, director of the TV drama department of the State Administration of Radio, Film and Television, said that as a show of the same name, "Ideal Shines on China" had a wide influence after its broadcast, especially among young people.


Recalling the whole process of the play from proposal, brewing to production and broadcasting, Gao Changli called it a "great adventure". The drama is composed of 40 units, with a history of 100 years of struggle in series, telling 40 flash stories in different periods. Gao Changli said that "Ideal Shines on China" is groundbreaking and enlightening for TV drama creation: First, it should be boldly innovated in terms of theme, content and form; The second is to dig out the most touching stories in history and life, which is the key to the success of this drama.


It is a distinctive feature of this drama to accommodate 40 stories with different styles in less than 1200 minutes. Chengxiang Zhong, a literary critic, mentioned that the play used a typical short play mode, which "has aesthetic limitations and special aesthetic advantages".


How to condense the complete story into a limited space of less than 30 minutes per episode is a major challenge for the creative team.


Talking about the creative process, Jiang Zuxuan, executive deputy director of the Propaganda Department of Hunan Provincial Party Committee, recalled that at that time, "time was really tight and the task was heavy". Ke Wang, the chief producer, convened 12 project teams of Hunan Radio and Television, and at the same time set up 17 directors’ teams, 22 writers’ teams, 14 general project teams and 15 independent filming groups. All the filming was completed within 76 days, and finally it was broadcast as scheduled on May 4.

Dongyu Fu, the general director of the play, made a resumption of the play with "two requirements and four keys": two requirements, that is, all topics should meet the characters and the times. The four keys are "truth and reasonableness, faith in the heart and light in the eyes, refinement of art and sublimation of theme".

Based on the concept of realistic creation, the pursuit of "truthfulness" in the play is integrated into all aspects of real characters, real names, real stories, real framing and real modeling. Ke Wang, the chief producer of "Ideal Shines on China", said that the crew went to 19 provinces (autonomous regions and municipalities) across the country for filming, including Chifeng in the northernmost Inner Mongolia, Haikou in the southernmost Hainan, Changbai Mountain in the easternmost Jilin, and Wuqia in the westernmost Xinjiang. "Although it is a day and night journey, it is worthwhile to go to Wan Li because of the ideal."


At the scene, Ke Wang (right), the chief producer of "Ideal Shines on China", presented the oil painting of "The Announcer" to Jia Lei (left), deputy director of Radio Station 491 of the State Administration of Radio and Television.

Liang Zhenhua, the chief screenwriter, said that the creative process of the play also touched him: he was moved by his understanding of the ideal; Moved by a group of people who come from ideals and are gathered by ideals; Moved by the opportunity of 40 artistic explorations and formal innovations. "40 episodes have an average of 5 questions per episode and 200 questions; In 40 episodes, the script was revised 6 times and 240 times on average, but we finished all the creation within 5 months. As long as you stick to it, you will also be illuminated by ideals. "


Yu Yuexian, an actor, talked about the experience of filming Our Wulan Muqi, saying, "Actors really see, listen and feel in the cold prairie environment. Therefore, our creative team can shoot film and television works with true feelings, truth and true thoughts. I myself have also been ignited by the hot hearts of’ Wulan Muqi’, and they really explained what is the ideal power. "


Zhang Haitao, member of the Standing Committee of the 12th Chinese People’s Political Consultative Conference and former deputy director of the State Administration of Radio, Film and Television, said that it is an important proposition that radio and television media have been exploring to make the main force truly enter the main battlefield of the Internet and youth. At this level, Hunan Radio and Television and Ideal Shines over China have handed in a qualified answer. He said that the creative experience of "Ideal Shines on China" is worth refining and summarizing, contributing to the high-quality development of China TV series.

Yi Kai, secretary-general of the China Television Art Committee, said, "The creation of this drama embodies the advantages of socialism concentrating on doing great things and is a successful practice in the field of literary and artistic creation."


The creation of this gathering force has achieved rich results. According to reports, the douban score of the drama reached 8.2, with over 10,000 short reviews and 325 long drama reviews. Only on Mango TV and Tencent Video, the broadcast volume reached 730 million, and the total topic reading on Sina Weibo exceeded 20 billion.


When talking about the feelings after viewing, Xing Ge, a senior editor of China Television Art Committee, affirmed the different expressions of different stories. For example, The Taste of Truth used a combination of staged scene scheduling and long-shot shooting, which specifically showed various social trends of thought that existed at that time; Our Wulan Muqi has the texture of painting and a strong sense of the times in terms of picture composition, color and light and shadow treatment.


The stories of 40 groups of different characters are connected in series with the four periods of party history to form a corridor of characters that penetrates time. Li Jingsheng, vice president of China Federation of Radio and Television Social Organizations, summed up the drama as "exquisite and grand". "This drama vividly integrates the historical characteristics and spiritual outlook of the Party in different periods into 40 short and exquisite character stories, focusing on the illumination and enlightenment of ideals and beliefs on life. These characters include ancestors and martyrs, as well as ordinary people living around you and me today. Each story intercepts a small and exquisite piece of life, which is independent, but it can be regarded as a splendid chapter of our century-old party history. "


Yin Hong, vice chairman of the Chinese Literary Critics Association, believes that the drama embodies the concept of "people-oriented", and at the same time it also achieves the goal of seeing history, casting souls and writing poems with people.


The flash of characters shines on history and bears witness to the power of ideals. Zhang Huali, Party Secretary and Chairman of Hunan Radio, Film and Television Group Co., Ltd. (Hunan Radio and Television Station) said that "Ideal Shines on China" is a highly innovative drama planned and guided by the State Administration of Radio, Film and Television. It is a drama that shines with ideals and communicates with young people in the new era.

During the broadcast of the play, "ideal" infected both the creator and the audience. Tan Xin, director of the TV drama department of Hunan Radio and Television Bureau, mentioned that many units regard Ideal Shines on China as the material for studying and educating the history of the Party, and many school students use Ideal Shines on China as the material for their compositions.

"I am most proud of the influence of" Ideal Shines on China "on young audiences." Ke Wang said, because ideals need to be relayed, it is meaningful to create if young people keep up.

Editor | Sui Fangfang Ning Yahong

Ask the new M5 to open and book Yu Chengdong: super beautiful, super easy to open, super intelligent and super safe.

【TechWeb】Just now, the new M5 in Wenjie opened the booking channel, and can enjoy the discount of 2,000 yuan deposit and 5,000 yuan car purchase. Yu Chengdong said in Weibo: The Wujie M5 Intelligent Driving Edition released a year ago is the first vehicle equipped with Huawei Advanced Intelligent Driving ADS 2.0, which opened a new track for advanced intelligent driving. On April 23rd, the new M5 will bring a comprehensive upgrade, bringing consumers a brand-new experience of "super beautiful, super easy to open, super smart and super safe".

The new M5 has made some adjustments in design, including a bright red appearance, a blackened logo and a sports kit, and blackened double five sports wheels with red sports calipers to enhance the sporty atmosphere.

The 2024 M5 adopts a closed front face design, which cancels the original large-size banner air intake grille and only retains the lower air intake, making the front face look fuller. At present, the official has not released the interior and power information of the new M5, but it is expected to further increase the interior space, and may be equipped with Huawei Vision Intelligent Driving HUAWEI ADS Basic Edition.

Although the official has not released the configuration information of the new car, it is reported that the new M5 may adopt the strategy of "increasing the allocation and reducing the price", and the estimated price will be in the range of 230,000-250,000 yuan to enhance its competitiveness. The new M5 is expected to become a strong competitor of Xiaomi SU7, especially in the case of a new upgrade in face value and configuration.

The release of the new M5 is highly anticipated, which may bring new highlights and surprises in design, configuration and price. For consumers who are concerned about new energy vehicles, the listing of the new M5 is undoubtedly an event worthy of attention. The new M5 will be officially unveiled at the Beijing Auto Show on April 23rd, when more detailed information about the vehicle will be provided. (Suky)

Xiaomi SU7 third edition and nine colors officially appeared.

On March 28th, Xiaomi Group held the launch conference of Xiaomi Automobile with the theme of "Forward" in Beijing Yichuang International Convention and Exhibition Center, and officially released Xiaomi SU7.

At the press conference, Lei Jun, founder, chairman and CEO of Xiaomi Group, said: "This is the first official appearance of Xiaomi SU7 and the most important moment in my life. Dream cars in this era must have the most advanced intelligent technology and the best driving sense. We hope to build a car that is the most beautiful, the best to drive and the smartest within 500,000, and to build a high-quality car. "

It is understood that Xiaomi SU7 offers nine colors to choose from, with a price of 215,900. Among them, the standard version is priced at 215,900, the Pro version is priced at 245,900, and the Max version is priced at 299,900. In addition, there are Xiaomi SU7 Founding Edition and Xiaomi SU7 Max Founding Edition, and the price remains unchanged, limited to 5,000 units. It can be ordered through Xiaomi Auto App, Xiaomi Auto WeChat applet or Xiaomi Auto retail stores in 29 cities nationwide, and delivered as soon as it goes on the market. The founding version will be delivered as soon as April 3, and the standard version, Max version and Pro version will be delivered at the end of April and May respectively.

"Intelligent Technology" Leading, Advanced Factory Integration and Innovation

Lei Jun said that smart electric vehicles are essentially "cars × electricity × intelligence". In the past decade, the industry has solved the problem of electrification, and the next decade will be a decade of intelligence. "Intelligence is the soul of a car, and intelligence will become the decisive point of this era."

In terms of intelligent technology, Xiaomi has a good technical accumulation and ecological scale. Xiaomi has entered the smart phone market since 2010, and now it is the top three mobile phone companies in the world, and has built the world’s largest consumer-grade AIoT platform. With Xiaomi 澎湃 OS as the carrier, it has built a "full ecosystem of people and cars" and has an advanced intelligent experience that runs through the complete scene of "people and cars". At the same time, it has accumulated profound technical capabilities in the fields of OS, AI and robotics, and these capabilities will be gradually applied to Xiaomi cars.

For example, Xiaomi SU7 not only has Xiaomi 澎湃 OS, the cockpit interconnection experience at the bottom, the whole ecology of people, cars and homes, but also realizes the first time that Xiaomi’s self-developed end-side model got on the bus. Xiao Ai, who is fully blessed by the big model, can not only control the car interactively by voice, but also integrate information such as the position, direction and vision of the car, so that the car can understand the real world like a human being.

In addition to the guidance of intelligent technology, Xiaomi continues to increase investment in intelligent manufacturing and promote the integration and innovation of advanced intelligent technology and traditional manufacturing. To this end, Xiaomi built its own industry-leading automobile factory in Yizhuang, Beijing. Besides the traditional four processes of stamping, welding, painting and final assembly, it also built its own large die casting and battery workshop. There are 29 R&D laboratories in the factory, and a test runway with a length of 2.5 kilometers and a design speed of 120km/h, covering 18 test road conditions. After the production capacity of the factory is full, a brand-new millet SU7 will go offline every 76 seconds.

Lei Jun said that Xiaomi Automobile Factory is led by scientific and technological innovation, maintaining high efficiency, high quality, green and sustainable, and accelerating the development of new quality productivity.

"Intelligent driving+intelligent cabin+ecology", winning the technical commanding heights of automobile competition in the second half.

"Choosing a smart electric car is essentially the strength of choosing smart technology. This is everyone’s real expectation for Xiaomi and new energy vehicles." In Lei Jun’s view, intelligent driving+intelligent cabin+ecology will become the technical commanding height for Xiaomi Automobile to participate in the competition.

In terms of intelligent driving, Xiaomi Intelligent Driving insists on full-stack self-research, with a total test of 10 million kilometers. Xiaomi SU7 comes standard with high-level intelligent driving functions such as high-speed navigation, one-button parking service and intelligent parking assistance that can be opened all over the country.

It is reported that Xiaomi’s intelligent driving R&D team has more than 1,000 people, and it is expected to exceed 1,500 by the end of the year, with the goal of entering the first camp in the industry this year. NOA, Xiaomi’s smart driving city, plans to open user internal testing in April, 10 cities in May and the whole country in August.

In terms of intelligent cockpit, Xiaomi SU7 brought the surging intelligent cockpit with advanced intelligent technology Yu Dacheng.

Xiaomi 澎湃 smart cockpit regarded the mobile phone and tablet as a part of the cockpit at the beginning of design, realizing multi-terminal integrated native design. There is no inductive connection between the mobile phone and the car machine. The commonly used App on the mobile phone can be connected to the car machine with one-click PIN, and the tablet on the back extension screen can automatically switch to the native car control desktop, realizing real-time synchronization of navigation information and freely adjusting functions such as air conditioning, seat heating and car music.

In addition, Xiao Ai, an intelligent voice assistant with 117 million monthly users, gets on the bus, which can realize many voice interaction functions far beyond the industry, such as continuous dialogue, offline dialogue, high-noise wake-up, and multiple instructions in one sentence. Thanks to the multi-modal integration of Xiaomi’s self-developed "MiLM-1.3B" end-side large model and the whole vehicle perception, the full link of Xiaomi SU7 voice interaction is upgraded, which not only covers the function of hand control in the car, but also enables the car to understand the real world like a human.

In terms of intelligent ecology, Xiaomi SU7 was born for in-vehicle intelligent ecology, and it is convenient to access a variety of CarIoT devices. For example, the expansion of physical keys, the use of magnetic attraction+screw double fixed design, can quickly adjust the common functions related to air conditioning. The upper, lower, left and right sides of the central control panel can be expanded, and an intelligent double dial can be installed on the central control panel, which can display information such as time, speed and mileage. The center console can also be extended and connected to the smart walkie-talkie suite. When driving, you can talk to your friends through the steering wheel buttons without picking up the walkie-talkie.

It is worth mentioning that for Apple users, Xiaomi SU7 also supports access to wireless CarPlay, and the rear bracket is compatible with iPad car control, which is currently the most eco-friendly model for Apple.

"the whole ecology of people, cars and homes" is fully opened

"Intelligence is Xiaomi’s strength. Starting from Xiaomi SU7, users can feel today’s smart technology." Lei Jun said that looking forward to the future, Xiaomi’s "people, cars and homes are all ecological", which connects all intelligent terminals together like never before, without feeling interconnection and ability coordination, so that everyone can experience the ubiquitous intelligent life.

The official release of Xiaomi SU7 also marks the new stage of Xiaomi’s strategy of "people, cars and homes are all ecological" from "complete closed loop" to "full opening", which is also an important milestone for Xiaomi to make steady progress and strive forward in 2024.

In the three years since it was announced to build a car, Xiaomi has achieved a qualitative change in comprehensive strength, and its underlying capabilities such as R&D, organization, talents, processes and informatization have been greatly enhanced, and its ability to resist risks has been qualitatively improved. Among them, by the end of 2013, the global sales volume of Xiaomi’s smart phones remained in the top three in the world for 14 consecutive quarters, the monthly active users of mobile phones reached 641 million, the number of connected devices on the AIoT platform reached 740 million, and the cash reserve increased by 30 billion yuan compared with three years ago, reaching 136.3 billion yuan, a record high, laying a solid foundation for the automobile business to be ready and the "all-people, cars and homes" to be fully launched.

In addition, Xiaomi firmly promotes the steady landing of the goal of the new decade-investing in the underlying core technology on a large scale and striving to become a global leader in a new generation of hard-core technology. For example, Xiaomi’s total R&D investment in 2023 reached 19.1 billion yuan, up 19.2% year-on-year, and it is expected to exceed 24 billion yuan this year. At the same time, the number of R&D personnel in Xiaomi reached 17,800, accounting for 53% of the total number of employees.

It is worth mentioning that in defining the overall strategy of "the whole ecology of people, cars and homes", Xiaomi also defined six sub-strategies, including high-end strategy, industrial capability leading strategy, OS strategy, AI strategy, chip strategy and new retail strategy, to further consolidate the development potential of Xiaomi’s continuous leap forward.

Xiaomi SU7 21.59, Lei Jun became the man who lifted the table.

Original taoran AI lanmeihui

Author | Tao Ran Wei Xiao

Finally, with the familiar Xiaomi BGM ringing, Lei Jun in a suit and tie went to the center of the stage of Xiaomi SU7 conference.

In the audience, the front row are the heads of five automobile companies-Li Bin, He Xiaopeng, Li Xiang, Wei Jianjun and Zhang Jianyong.

Of course, there is also the concern of the rim and even the whole network-the three-year period has arrived, and Lei Jun has to hand in his homework.

The highlight is that everyone guessed the price for several months: Xiaomi SU7 standard version is 215,900 yuan, PRO version is 245,900 yuan, and MAX version is 299,900 yuan.

The audience exclaimed.

However, Lei Jun is still a little careful. He made so many preparations in the early stage and asked everyone to spray lightly if they have any opinions.

The logic of benchmarking with Tesla Model 3 and Porsche Taycan is very millet and honest.

Insufficient places, do not shy away. But at the same time, I am very confident. When talking about core competitiveness such as intelligent ecology and other higher configuration performance, the platform shouted "far ahead" and then quickly "floated, floated".

However, the sales data undoubtedly gave Xiaomi and Lei Jun a shot in the arm: only 27 minutes after the sale, Xiaomi SU 7 has exceeded 50,000 units.

Lei Jun is still the Lei Jun who lived up to expectations.

After the release of SU7, his last venture also entered a new chapter.

It is certainly difficult to achieve the goal that Xiaomi Automobile will hit the top five global car companies in 15-20 years, but Lei Jun has already taken the first step.

And this first step is a long-lost bombing of the car circle.

Lift the table

Lei Jun was very straightforward on the stage: Xiaomi SU7 was made according to Tesla Model 3.

But in fact, it only includes the standard version and the Pro version: the former configuration is basically the same as the Tesla Model 3 rear-drive version, but the price of 215,900 is 30,000 lower than that of Tesla (245,900), and the parameters of the latter are almost all-round. Rolling the rear-drive Model 3, the price is completely equal to it.

As for the Xiaomi SU7 Max version with a price of 299,900 yuan, Lei Jun said that he wanted to target Porsche Taycan and "leapfrog the benchmark".

Without the 300,000+previously speculated, after the momentum of the rim rushing to lift the millet table passed, Lei Jun used a set of pricing of 21.59-29.99 to lift the biggest one.

In the series of "Lei Jun answers questions from netizens" released some time ago, the top leader of Xiaomi Automobile said that he is a Tesla owner and a Porsche owner, and called the two car companies "time benchmarks" in the history of electric vehicles and sports cars.

However, he also stressed that if Xiaomi wants to build a car, it must be compared with these best car factories in the world: "There must be some places where they do well, and some places where we do well."

Today’s press conference, after pricing and configuration overwhelmed Model 3, Lei Jun mentioned Porsche and once again stressed that dare to compete is to win, and it will definitely surpass it in the future.

Very excited and confident.

Xiaomi SU7 is positioned as a "pure electric luxury car", and Lei Jun’s goal is to become "the best looking, best driving and most intelligent car within 500,000". In addition to Model 3 on PPT, there are actually P7 from Tucki and ET5 from Weilai.

Judging from the official pricing, the current dealer quotation of the latest Model 3 is 245,900-285,900, with 245,900 rear drives and 285,900 long-life four-wheel drives. The price ranges of Tucki P7 and Weilai ET5 are 20.99-339,900 and 298-356,000 respectively, which are almost overlapping.

As for the configuration and performance, as Lei Jun said, it is far ahead-taking the comparison between the new version of Model 3 and the standard version of SU7 as an example, in terms of performance, Model 3 has an acceleration of 6.1s, a peak power of 194kW, a total torque of 340N·m, and a pure electric cruising range of CLTC of 713km. The four data of Xiaomi SU 7 standard edition are 5.28s, 220kW, 400N·m and 700km, which are almost completely beyond the parameter level.

The only two shortcomings that have been circled are: first, the power consumption of 100 kilometers, Xiaomi’s 12.3kWh/100Km lags behind Tesla’s 11.3kWh/100Km, but Lei Jun said that the SU7 battery is bigger and the cruising range is longer when actually used; The other is intelligent driving and computing power, which Tesla leads by a wide margin, but Lei Jun thinks that Xiaomi’s intelligent driving system will be more suitable for the drivers’ physique in China and the domestic road system.

Obviously, Lei Jun is well prepared for the pure electric car market in the range of 200,000-300,000. Just, I don’t know how He Xiaopeng and Li Bin sitting in the audience feel now, where is the way out for P7 and ET5, and how to play the next generation products.

And, Musk on the other side of the ocean will take a look at Xiaomi SU7 with the time difference.

Create another millet

With the release of SU7, Xiaomi also officially entered the new energy track.

The role of Lei Jun has also changed significantly. It used to be Reebs, but now it is Reske. Looking around the world, only Lei Jun has managed to personally grasp the two mainstream smart consumer goods "mobile phone" and "car".

There are no tricks in the process.

In three years, 3,400 engineers spent more than 10 billion yuan on research and development, and of course, the model worker Lei Jun went all out.

The financial report shows that in 2023, Xiaomi invested as much as 19.1 billion in research and development, and it is expected to reach 24 billion in 2024. In innovative businesses such as automobiles, Xiaomi invested 6.7 billion yuan last year. In the words of Lei Jun, he used real money to express his attitude of seriously building cars.

Yes, only by building a car seriously can we get admission tickets. Lei Jun has a clear understanding of this.

Now that Xiaomi Automobile has officially entered the market, Xiaomi has formed a pattern of two-wheel development of the original Xiaomi basic disk and Xiaomi Automobile.

For Xiaomi, this is a brand-new stage of development, and it can even be said that it is an opportunity to recreate a millet.

More than a decade ago, Lei Jun stood on the cusp of smart phones and built a millet with a market value of 100 billion. In the new decade, Lei Jun has put all his accumulated achievements and reputation in life to catch up with the new energy vehicles.

This is Lei Jun’s last venture, and the imagination space is also on the scale of 100 billion.

There are opportunities as well as challenges, depending on whether Xiaomi SU7 can make the first shot.

Lanmeih/ Today’s Topic

Xiaomi SU7, do you have a crush?

Original title: "Xiaomi SU7 21.59, Lei Jun became the man who smashed the table"

Read the original text

How big is the gap between the video number and Tik Tok?

After the vibrato burst into flames, the importance of the video number of WeChat in the interior also soared, asking for money, giving money and resources to resources. But up to today, there is still a big gap between the two: it is estimated that the gap between the video number and Tik Tok is between 3.3 times and 6.6 times. The second half of Touteng War will still be very exciting, please move the small bench ~

There is no doubt that video number, as a rising star, has already become one of the top three short video tracks in China after several years of catching up.

However, it is difficult for the industry to give a comprehensive and accurate data on how far the video number has developed and how far it is from Tik Tok.

The direct reason behind this is that WeChat is only a business group of Tencent, a listed company, and the video number is only a sub-product of WeChat, so there is no obligation to publicly disclose detailed data in the financial report. In addition, unlike independent apps, video is only a function of WeChat, which also makes it more difficult for third-party data monitoring.

Similarly, as the leader of short video industry, Tik Tok is also a non-listed company at present, so it is difficult for us to see the whole picture of Tik Tok data.

However, this does not mean that the video number and Tik Tok are completely two data black boxes. We can still make reasonable guesses from the limited public data at present, and then draw some meaningful conclusions-

In the business world, absolute data is important, while at other times, relative data is just as important or even more important.

Let’s take a look at two important absolute data of the video number-according to Tencent’s financial report and conference call, the advertising revenue of the video number Q2 in 2023 is 3 billion, and at the same time, the current advertising adsload of the video number is less than 3%.

Let’s look at some data from Tik Tok-

According to The Information, ByteDance’s Q2 revenue in 2023 was $29 billion, of which 20% came from overseas.

I think this data is relatively credible. On the one hand, The Information has disclosed the revenue of Byte many times before, including the revenue of Byte China of $69 billion last year, etc. These data are basically recognized and quoted by the industry.

On the other hand, if the data gap is large or untrue, bytes will jump out to refute or clarify. (For example, regarding the data of e-commerce GMV in 2022, bytes have been specifically denied. )

OK, based on the above data, we can actually make some relatively reasonable calculations-

Byte Q2 earned $29 billion, 20% of which came from overseas, that is, 80% came from China, and the domestic income was $23.2 billion.

Note: This $23.2 billion does not mean that it is all advertising revenue from Tik Tok. Only Tik Tok, a single product, also involves live broadcast revenue and e-commerce fee income (different from e-commerce advertising revenue).

In addition, Byte also has the income from a series of other businesses, such as today’s headlines, car owners, watermelon videos, tomato novels, flying books, games, Volcano Engine and so on. (You know, in 2017, when Tik Tok was just born, today’s headline income was as high as 15 billion)

So what is the proportion of advertising revenue in Tik Tok’s total domestic revenue?

This is a mysterious data, but fortunately, we also have some reference objects. Let’s take a look at the income composition of Aauto Quicker, a short video track listed company.

According to Aauto Quicker’s Q2 financial report this year, in Aauto Quicker’s income structure, advertising revenue accounts for 52.5%, live broadcast revenue accounts for 34.7%, and other income (including e-commerce) accounts for 12.6%;

Of course, we can’t directly use the proportion data of Aauto Quicker, because there is still a big difference between Tik Tok and Aauto Quicker.

Compared with Aauto Quicker, which started with the realization of live broadcast, Byte has been engaged in advertising business since 2013, and has formed a set of extremely strong tactics in advertising algorithm, product, operation and sales, so the proportion of natural advertising revenue will be higher. After all, live broadcast and e-commerce are the businesses that come later. (Although the fast-growing e-commerce GMV has surpassed Aauto Quicker)

I take Aauto Quicker as an example to illustrate that the revenue of Bytes is not all from advertising in Tik Tok. Compared with the early advertising revenue in ByteDance, which accounted for more than 90%, the proportion of advertising has dropped significantly now.

Therefore, when we estimate the advertising revenue, we need to make a discount. Considering the advantages of Byte in advertising and the existence of other huge business lines, we roughly give this discount a 60% discount.

At this time, we can calculate the income of Tik Tok’s advertising business-29 billion * 80% * 60% = 13.9 billion US dollars, or 99.5 billion RMB.

The reason why we have to calculate the advertising revenue of Tik Tok is because we have to compare it horizontally with the advertising revenue of the video number in the same period-

The revenue of video number Q2 this year is 3 billion, and the estimated revenue of Tik Tok Q2 advertising this year is 99.5 billion, which is 33 times.

Does this mean that the gap between video number and Tik Tok in user data is 33 times?

Of course not. We also have to consider two factors: the advertisement loading rate Adsload and the advertisement unit price ECPM.

Obviously, there are many advertisements in Tik Tok, but there are few advertisements for video numbers. According to the data disclosed by Tencent at present, the adsload of video numbers is less than 3%.

So, what is the advertising Adsload in Tik Tok?

This is also a mysterious data.

But we can still reasonably guess—

James Mitchell, chief strategy officer of Tencent, said: the competitor’s adsload exceeds 10%, and this competitor naturally includes Tik Tok;

According to a research report of Huachuang Securities, Tik Tok’s Adsload in 2019 has exceeded 12%;

In addition, according to the daily sense of body, it is very common for Tik Tok to insert five videos into one advertisement, which does not include the content-heated advertising product of Dou+ without advertising logo, and it is already 20% for five videos to insert one advertisement.

In fact, the advertisement Adsload of a product itself is not static, and it will be dynamically adjusted according to many factors such as supply and demand, time nodes and so on.

Based on the above data and some three-party calculations in the industry, we take Tik Tok’s Adsload as 15%;

At this time, we can work out the difference of the service volume of the video number on the user side, that is, the volume relationship between them needs to be divided by the multiple of their Adsload on the basis of the revenue multiple, that is, the above 33 times need to be divided by 5, which equals 6.6 times, that is, the current broadcast volume of the video number has a greater probability of being 6.6 times that of Tik Tok.

Of course, strictly speaking, this caliber is not entirely the amount of play, which can be roughly understood as the number of times the video information stream is refreshed, that is, the space for inserting advertisements.

Compared with the fuzzy process indicators such as daily activity, duration and duration of a single video, the total broadcast volume directly calculated above is obviously more meaningful. After all, the process indicators ultimately serve the result indicators.

It must be noted that our calculation is still rough, because there is a hidden assumption-the advertising unit price ECPM of video number and Tik Tok is the same;

This assumption and premise itself also have enough room for discussion-

In essence, ECPM reflects the efficiency of advertising.

In fact, the competition between Byte’s huge engine and Tencent’s advertisement in the whole advertising market is an extremely wonderful comprehensive combat of China Internet.

In the past few years, the two have competed in technology, products, operation, market, sales and ecology, and the two sides have come back and forth in the constant game;

Objectively speaking, after a long-term struggle, Tencent’s technical level, professionalism and comprehensive strength have reached the level of the first echelon in the Internet advertising industry, not only at home but also at the international level.

Of course, the overall efficiency of Byte advertising system is one of the best at present because of its relative advantages in algorithm and crowd level objectively. Many advertising agencies told me that in most cases, the ECPM of effect advertising Tik Tok is indeed higher than other advertising platforms.

I heard an unconfirmed data in the industry is that the advertising ECPM in Tik Tok is twice as high as that in Aauto Quicker. (Again, this data is unconfirmed)

I have every reason to believe that Tencent’s advertising, which has been deeply rooted in efficiency for a long time, will not have a gap of twice as large as that of Tik Tok. If we take twice as the lower limit, the ECPM of the two will be equal and twice.

Then according to the above calculation, the most important conclusion of this paper comes-The difference between the video number and Tik Tok is estimated to be between 3.3 times and 6.6 times.

OK, so the question is coming-how about the video number?

In my opinion, this is undoubtedly an excellent performance.

You know, according to Tencent’s latest financial report, the number of Q3 video numbers has surged by 50% this year, while the total duration of Q2 video numbers has nearly doubled this year.

That is to say, the video number is still growing at a high speed, which means that the gap of 3.3-6.6 times will continue to narrow in the context of the objective slowdown of Tik Tok’s growth momentum.

As a late-developing product, as the only remaining fruit after Tencent’s various short video products held high and played high, and as the "hope of the whole village", the video number achieved this order of magnitude in less than four years under the difficult background that the industry generally believed that the pattern had been set, and abruptly completed the task of playing the short video table.

Zhang Xiaolong and his WeChat team once again proved their strong strength as a latecomer, and the depth of Tencent’s bench was also vividly displayed in this campaign.

Going to the table doesn’t mean you can sit back and relax. Sustainable growth is the eternal theme of this infinite game. How will the video number cope with the competition at the table?

I noticed that in the conference call of Tencent Q3, Tencent talked about the following four logics when explaining the future potential of video number-

  1. Growth of traffic:This means that the data on the user side is still growing. According to the financial report, the total duration of Q2 video number nearly doubled year-on-year, and the number of Q3 plays increased by 50% year-on-year.
  2. Promotion of advertising Adsload;This means that the current Adsload of video number is indeed lower than that of competitors;
  3. The increase of click-through rate of AI-blessed advertisements;This means that the big model is used in advertising algorithms. For example, Tencent’s mixed-element big model was originally built for advertising.
  4. Closed-loop opportunities:This refers to the internal circulation growth space including enterprise WeChat, applet, payment and e-commerce.

From a logical point of view, there is nothing wrong with these four angles, but what I want to say is that there is actually a big logic in the opposite direction behind these four small logics, that is, the overall scale of Internet advertising-

According to Questmobile’s data, the total scale of domestic Internet advertising market will increase by 4% in 2022, and only by 2.3% in Q1 2023.

In view of the current economic situation, the Internet advertising market has objectively bid farewell to high-speed growth, and will enter the new normal of micro-growth.

At the same time, the substitution effect of short video advertisements preempting other types of advertisements is also disappearing. According to Questmobile’s data, the market share of short video advertisements has stabilized in the past year.

Under this premise, the increase of user-side growth, Adsload, click-through rate and closed loop mentioned by Tencent will certainly increase advertising revenue, but the increase of total supply and the constant total demand mean that this increase ratio will be discounted.

Simply put, your advertising volume will increase by 50%, and your advertising revenue will inevitably not increase by 50%, which is an important supplementary factor that restricts the imagination of video number revenue.

Indeed, personal struggle is very important, but we must also take into account the historical process.

Therefore, for the video number, the internal circulation revenue it emphasizes becomes quite important. The strong rise of e-commerce in Tik Tok and the simultaneous surge of advertising revenue fully prove the strategic significance of internal circulation.

In essence, the core of doing closed-loop e-commerce lies in two points-

The first is that the complete data link based on transaction brings efficiency improvement, that is, its advertisement is more accurate, and it knows what characteristics those people who place orders have;

Second, the extension of the value chain, including performance, makes it possible for the platform to collect taxes, and merchants are willing to contribute fees to the closed loop.

Obviously, Tencent is also greedy for the business increment brought by the closed loop. A new formulation of this financial report is "Pan-internal circulation advertising revenue linking WeChat applets, video numbers, WeChat official account and corporate WeChat landing pages", which increased by 30% year-on-year.

However, this is a difficult challenge for the video number, which is genetic in a sense-

The WeChat team is famous for its elitism within Tencent, and its prominent feature is its high human efficiency. It has been committed to doing things with fewer and more efficient people. For example, the team members of WeChat Pay are much smaller than Alipay in scale.

One of the drawbacks of elitism and focusing on human efficiency is that the WeChat team has not done dirty work.

In the past, the typical style of play was that Zhang Xiaolong launched a small team, made hard efforts and thought clearly from the top-level architecture and product mechanism, and used the super base of social interaction to pry a business sector, such as WeChat payment, applet and video number.

However, the internal circulation like e-commerce is very heavy, its chain is very long, there are many aspects of performance, the cost is extremely high, and the information flow, logistics and capital flow are intertwined and complicated, so it is difficult to solve the battle only by relying on the top-level design at the product level or the strategic level.

In a word, the video number is doing dirty work such as e-commerce and local life, and the long-term product leverage of the WeChat team will be discounted.

To get rid of this hard bone, WeChat must really sink, take the initiative to do some hard work that it didn’t want to do before, and change the tactics of promoting business based on products and strategies that have always been advantageous in the past.

So, does WeChat have this level of consideration?

The answer is that there is no very clear signal yet.

Why do you say that?

Let’s cut in from a small perspective. As an industry observer, I have a small habit when studying Tencent, that is, I go to its recruitment website to see the latest recruitment positions of various business departments. The types and quantity of these positions reflect the work focus and tendency of the business group to a certain extent from a unique angle.

I have seen 51 non-technical posts related to business in the posts recently released by WeChat business group, among which 13 are related to video numbers, which are not too many. There are many posts such as "senior strategic product manager for live broadcast with video numbers" and "senior product manager for business operation of small shops with video numbers".

It can be seen that, at least from the perspective of recruitment, the video number team has no idea of focusing on the business for the time being, and still plans to continue to promote the business through its product strategy advantages.

However, my view is different from that of the industry. I think Zhang Xiaolong is by no means a product defender who sticks to some so-called obsession.

On the contrary, his figure is quite soft, facing the business reality and being thoroughly remoulded at the business level many times-

From Foxmail to QQ mailbox, it is a change from software thinking to internet thinking, from QQ mailbox to WeChat is a change from PC thinking to mobile genes, and from the minimalist rule in the early days of WeChat to the hug algorithm now is a change in product logic.

Any one of these changes is actually a "sudden change" level, but each turn is quite silky.

Therefore, in this sense, as long as it is really necessary in business judgment, it is not an unexpected thing for WeChat and video number to change their long-standing strategies and focus on business in the next short video amount competition.

At the same time, we should also see that WeChat has its own advantages objectively.

This advantage lies in the fact that it has a set of interwoven components established by WeChat official account, applet and enterprise WeChat, which has been imperceptibly embedded in various business links of many advertisers to some extent.

This kind of embedding has a moat effect, and the migration cost is very high. For example, an education company uses enterprise WeChat as its private domain, so the link in WeChat must be the smoothest in the advertising process, which has become an important advantage of video number advertising.

In the future, VideoNo. and Tik Tok will definitely meet each other in heavier businesses such as e-commerce and local life, and the victory or defeat of the battle depends on their traffic utilization efficiency.

Tik Tok has always been data-rational, and the distribution of traffic depends on the cold ROI. Behind the inclination of traffic to e-commerce, the profit-making efficiency of e-commerce is indeed high. Tik Tok has also poured a lot of traffic into games and hardware Pico, but it turns out that the ROI of the latter two is not ideal, so it is cut off cleanly.

The traffic of the video number is the same logic. Today, the landing page is a relatively large proportion of enterprise WeChat and small programs, and if the ROI of e-commerce and local life continues to improve, it will inevitably get a traffic share that matches its efficiency.

The distribution and center of gravity of video number in the future will determine its commercial competitiveness, and it will also be an important point of competition between video number and Tik Tok in the future.

At this time today, the competition in the short video market has already entered the deep water area, and the competition on the track has become an incomparably real mixed fighting, which is worse than physique, skill, endurance and logistics, and at the same time, it has fewer mistakes than anyone.

In the short video business, the user’s migration cost is actually not as big as expected. In the end, it is based on the long-term retention and realization of content ecology and user habits.

In this sense, how far the video number can go on the short video track, what kind of ceiling it can reach, and how to differentiate itself from Tik Tok and Aauto Quicker are still the most anticipated challenges for China Internet in the next few years.

Under the background that the Internet in China has changed hands, the second half of Touteng War will still be extremely exciting. Please move the small bench ~

2018 Global Venture Capital Summit held in Xi ‘an to gather wisdom for industry development.

  In order to thoroughly implement the national innovation-driven development strategy and the decision-making arrangements for financial reform and opening up, promote the construction of Xi ‘an as a national central city and Silk Road as an international financial center, and promote the harmonious development of China with the world. On September 5-6, 2018, the "2018 Global Venture Capital Summit" hosted by Xi ‘an Municipal Committee of the Communist Party of China and Xi ‘an Municipal People’s Government, undertaken by Xi ‘an Municipal People’s Government Financial Work Office, Xi ‘an High-tech Industrial Development Zone Management Committee, Zero2IPO Group and Xi ‘an High-tech Industrial Venture Capital Co., Ltd., and co-organized by Daxian Industrial Fund, Xi ‘an Capital and Zhongke Chuangxing was successfully held in Xi ‘an, the starting city of the ancient Silk Road.

  The 2018 Global Venture Capital Summit is the most internationalized venture capital activity in China at present, and venture capitalists from the United States, Germany, France, Israel, Japan, South Korea and other countries have all participated in relevant forums. The big coffees shared their insights on venture capital, made suggestions for the development of Xi ‘an venture capital market, and let the passion of innovation and entrepreneurship collide with the power of capital in the ancient capital.

Wang Yongkang, Secretary of Municipal Party Committee

Wang Yongkang, Secretary of Xi ‘an Municipal Party Committee

  Seven highlights of the 2018 Global Venture Capital Summit were all announced.

  Aspect 1: Explore the driving force of capital, and star investors empower value investment.

  On September 5th, Vice Mayor Gao Gao, on behalf of the Xi ‘an Municipal Party Committee and the Xi ‘an Municipal People’s Government, expressed warm welcome and heartfelt thanks to everyone for coming. Wang Zhongmin, former vice chairman of the National Social Security Fund Council, Xu Xiaoping, founder of Zhenge Fund and co-founder of New Oriental, Dave Jones, president of Silicon Valley Bank Asia and president of Pudong Silicon Valley Bank, Bruno Bézard, managing partner of Caive Fund, Ni Zewang, chairman of Shenzhen Innovation Investment Group Co., Ltd., and Tang Ning, founder and CEO of CreditEase, Yao Jinbo, a famous angel investor and CEO of 58 Group, Zhou Kui, a partner of sequoia capital china, and more than 100 world-renowned investors, representatives of industry associations and entrepreneurs gathered in Xi ‘an to discuss global entrepreneurship and investment opportunities.

  Yao Jinbo, CEO of 58 Group, mentioned that no matter what the market development prospect is, entrepreneurs should learn to deal with it. For entrepreneurs, only those who don’t chase after the wind in the bubble can stand out.

  Ni Zhengdong, founder and chairman of Zero2IPO Group, said that in the next 20 years, China Venture Capital has prepared 3 billion funds to continue to support innovation and entrepreneurship. This year is a turning point for the whole venture capital industry. The challenge is only temporary and the future is still good.

  Xu Xiaoping, founder of Zhenge Fund and co-founder of New Oriental, said that the interaction between entrepreneurial miracle and equity incentive is very important when referring to the shocking reasons of venture capital landscape in China. In the face of equity incentives, people’s creativity, entrepreneurial motivation and imagination will be indescribable.

  Wang Zhongmin, former vice chairman of the National Social Security Fund Council, mentioned that under the trillion-dollar new opportunities of equity investment under the Belt and Road Initiative, if cities want to generate trillion-dollar markets, local governments should open their data resources to the most competitive cloud platform companies, so that they can expand into a broader digital business scene.

  Aspect 2: Expert forum will guide the new pattern of venture capital.

Gao Gao, member of the Standing Committee of Xi 'an Municipal Committee and Vice Mayor, issued "Ten Venture Capitals"

Gao Gao, member of the Standing Committee of Xi ‘an Municipal Committee and Vice Mayor, issued "Ten Venture Capitals"

  During the summit, 30 well-known investors from the venture capital industry in China had a talk with Wang Yongkang, member of the Standing Committee of Shaanxi Provincial Party Committee and secretary of Xi ‘an Municipal Party Committee, Shangguan Jiqing, deputy secretary and mayor of Xi ‘an Municipal Party Committee, Gao Gao, member of the Standing Committee and deputy mayor of Xi ‘an Municipal Party Committee and other municipal leaders. During the exchange, guests and leaders of Xi ‘an made suggestions for Xi ‘an on the development of venture capital industry in China and how Xi ‘an can give full play to its regional advantages and promote the gathering and development of venture capital industry. The convening of this expert symposium has set up a direct communication window for leading venture capital institutions in Xi ‘an and China, and established deep links and mutual accommodation at the capital level; At the same time, we also share the historical and investment opportunities in Xi ‘an with many institutions, and jointly explore this fertile ground for innovation with rich scientific and educational resources and excellent science and technology industry.

  Aspect 3: "Ten Venture Capitals" to Construct a New Pattern of Innovation and Venture Capital Development in Xi ‘an

  In order to speed up the development of the financial industry, promote the deployment of the work related to the construction of the Silk Road International Financial Center, accelerate the gathering of venture capital resources, create a good atmosphere for venture capital, and create a highland for western investment, so as to better serve the innovation and entrepreneurship development of Xi ‘an. This summit put forward "Several Opinions of Xi ‘an Municipal People’s Government on Supporting Xi ‘an National Independent Innovation Demonstration Zone to Gather Venture Capital Institutions and Talents" (referred to as "Ten Venture Capital Articles"). The "Ten Venture Capitals" will be tried first in the self-created zone, further promoting the deep integration of scientific and technological resources and venture capital, and making efforts to attract and cultivate a number of venture capital institutions with international influence and competitiveness, which will be conducive to creating a good atmosphere for the development of innovation and venture capital in Xi’ an and building a new pattern of coordinated and interactive development of "science and technology+innovation and entrepreneurship+venture capital".

  Aspect 4: Memorabilia of venture capital industry, the global Silk Road Venture Capital Alliance was formally established.

  "Global Silk Road Venture Capital Alliance" was formally established at the summit. It aims to give full play to capital strength, link global innovation resources, bear the mission of building a global venture capital force, and promote high-quality development. Professional institutions such as global VC, PE, investment banks and club law firms will form a huge operational force, bearing the important mission of building a global venture capital ecology and building a comprehensive service platform based on industrial aggregation. The first batch of participating institutions reached more than 100, with the full support of top investment institutions including Shenzhen Venture Capital, IDG Capital, Junlian Capital, Lenovo Venture Capital, Northern Lights Venture Capital, Detong Capital and Softbank China Capital. The alliance will set up its headquarters in Xi ‘an High-tech Zone, and will invite all alliance units to get together at the annual global venture capital summit, which will become an inexhaustible motive force and source for realizing linkage development in the world economic resonance.

  Aspect 5: Deepen cooperation, and all units in Xi ‘an have reached strategic cooperation with frontline institutions.

  In order to thoroughly implement the national innovation-driven development strategy and the decision-making arrangements for the reform and opening-up of the financial industry, at the summit, the Financial Work Office of Xi ‘an Municipal People’s Government held a strategic signing ceremony with first-line investment institutions such as Shenzhen Innovation Investment Group Co., Ltd., Zhenge Fund, sequoia capital china and Joy Capital. In addition, Xi’ an High-tech Zone and Qianhai Financial Holdings Co., Ltd., Silicon Valley Shanghai Pudong Development Bank and Xi’ an Madison Technology Service Co., Ltd.; Qujiang New District and Beijing Guokai Taifu Asset Management Co., Ltd.; The Economic Development Zone and Zheshang Venture Capital also reached a signing cooperation at the scene. A series of signing cooperation at the summit will attract investment and wisdom for the construction of Xi ‘an through the power of capital, and build it into a major central hinterland that will undertake the Great China, Northwest China and radiate Asia, Europe and Africa.

  Aspect 6: 2018 Xi’ an Future Star TOP100 is unveiled.

  As an important part of the "Longmen Action" plan, the selection of "TOP100 Future Stars of Xi ‘an in 2018" will further strengthen the integration of industry and capital and build a Silk Road International Financial Center in Xi ‘an. The selection process was strictly evaluated by nearly 160 investors and screened by nearly 20 experts for 72 hours. At the summit, the "TOP100 of the Future" which stood out from 1686 entries was grandly announced. This selection will discover a number of high-quality enterprises with good growth prospects, high technology content and great development potential for key promotion and key cultivation, so as to introduce more "flowing water from the source" for Xi ‘an’s economic development and promote more private enterprises with potential to take advantage of the situation to "leap forward". The "unicorns" who belong to Xi ‘an in the future will start from here and go to the world.

  Aspect 7: Hard technology+integration of defense and civilian technologies+big culture, three major industries empower innovation in Xi ‘an.

  The success of the 2017 Global Hard Technology Innovation Conference has started the hard technology brand in Xi ‘an, making "the global hard technology capital" a new city business card for Xi ‘an in the development of world cities. At the same time, the parallel of integration of defense and civilian technologies’s many initiatives has also given new opportunities for the development of Xi ‘an’s military industry. In addition, in 2018, Xi ‘an is focusing on the supply-side structural reform, accelerating the construction of cultural industry projects, parks and characteristic towns, and increasing investment attraction. The 2018 Global Venture Capital Summit combines the hard technology, integration of defense and civilian technologies and big culture industries in Xi ‘an to discuss the innovative development of Xi ‘an under the global entrepreneurial and investment opportunities.

  It is reported that the event attracted more than 2,500 spectators including more than 500 venture capital industry guests, more than 400 industry media, more than 100 domestic and foreign industry associations and innovation institutions, and more than 1,000 innovative and entrepreneurial enterprises. Xi’ an also took part in a cultural ceremony integrating the history of the ancient capital with the Silk Road customs — — Dream of Chang ‘an — The Great Tang Welcome Ceremony will show contemporary Chang ‘an in front of the world with a magnificent performance that integrates historical, cultural, scientific and technological, creative and other times. 2018 Global Venture Capital Summit Huizhi is a world-renowned venture capital leader. Trillion capital will be invested in this city that is fully running, bringing wisdom to the development of the industry, winning opportunities for Xi’ an and promoting the innovation and development of the global venture capital industry.