【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）

The following article comes from Red Star Capital Bureau, and the author is Qiang Yaxi.

Hongxing Capital Bureau.

Truth creates value.

The Red Star Capital Bureau reported on May 14th that there was a rumor recently that "Xiaomi Wuhan Headquarters announced that it would lay off 90% of its employees over the age of 35". In response, Wang Hua, general manager of the public relations department of Xiaomi Group (01810.HK), responded through Weibo, calling the information a rumor.

The Red Star Capital Bureau noticed that on social platforms such as Weibo, some netizens posted: "The second headquarters of a certain meter in Wuhan officially announced that 90% of employees over 35 years old will be laid off." This statement caused heated public opinion, and some netizens speculated that it was Xiaomi Group that was mentioned in the article.

The picture is from the Weibo platform.

Regarding the above rumors, at noon on May 14th, Wang Hua, general manager of Xiaomi Group’s public relations department, responded to the matter through Weibo. He said that last night, information about employees over the age of 35 in our Wuhan headquarters only kept 10% appeared on social media platforms, which were all rumors after investigation. Now the legal department of the company has obtained relevant information and reported it to the relevant departments.

The picture is from the Weibo platform.

According to public information, Xiaomi currently has two headquarters in Beijing and Wuhan, and its Wuhan headquarters is located in Optics Valley, with a total construction area of about 52,000 square meters and a total investment of 340 million yuan.

In November 2017, Xiaomi Group, Jinshan Software and Shunwei Capital announced that they would settle their second headquarters in Wuhan, which was officially opened in December 2019.

source map

According to Chutian Metropolis Daily, at the opening ceremony in December 2019, Liu Guojun, general manager of Xiaomi Wuhan Headquarters, said that Wuhan Headquarters will be the new home of employees of Xiaomi, Jinshan and Shunwei Capital engaged in core businesses such as AIoT, big data, cloud services, e-commerce, new retail, office software, overseas R&D and financial investment. Lei Jun, chairman of Xiaomi Group, said that in the next decade, he hopes to build Wuhan into a super-large R&D headquarters of Xiaomi and a technical highland in the era of artificial intelligence. His goal for Wuhan headquarters is to accommodate 10,000 employees in the future.

Previously, Xiaomi Group released the annual performance announcement for 2022. In 2022, the total revenue was 280 billion yuan, down 14.7% year-on-year, and the adjusted net profit was 8.5 billion yuan, down 61.4% year-on-year. Its smartphone business, which accounts for half of the company’s total revenue in 2022, was 167.2 billion yuan, down 19.9% year-on-year, accounting for 59.7% of the total revenue.

Chengdu Business Daily-Red Star Journalist Qiang Yaxi

Original title: "Xiaomi responds! 》

Read the original text

On March 21, Geely Automobile released its 2022 performance report, showing that the company realized revenue of 148 billion yuan, up 45.6% year-on-year, a record high; The net profit of returning to the mother was 5.26 billion yuan, an increase of 8.5% year-on-year; Affected by the price increase of raw materials and the increase in the proportion of new energy, the overall gross profit margin fell to 14.1%, but the average single gross profit increased by 11.1% to 17,500 yuan; Profits from technology and authorized services continued to grow steadily, up 29.9% year-on-year; Jizhi auto finance profit increased by 15.3% year-on-year.

In 2022, Geely Automobile increased its investment in intelligent electrification research and development, with the investment increasing by 51.2% to 8.4 billion yuan compared with the same period of last year; Strong financial position, operating cash flow increased by 4% to 16 billion yuan; The total cash level rose by 20.4% to 33.7 billion yuan.

Behind the sound financial performance, it is inseparable from the support of new car sales that have achieved growth in adversity. In 2022, the total sales volume of Geely Automobile reached 1.433 million vehicles, up about 8% year-on-year, outperforming the domestic automobile market, and its production and sales exceeded one million vehicles for six consecutive years.

Among them, Geely Automobile’s new energy sector has a bright market performance and has become a new driving force for the company’s growth. In 2022, the sales volume of Geely Automobile’s new energy products was 328,700, and the penetration rate of new energy in a single month exceeded 30% for many times, which doubled compared with the same period of last year. In 2023, Geely Automobile set the sales target at 1.65 million vehicles, an increase of about 220,000 vehicles over the previous year, of which the sales of new energy doubled compared with 2022.

While the sales volume is rising rapidly, Geely Automobile is accelerating the goal of sustained upward brand value. Take Extreme Krypton, a luxury intelligent pure electric brand, as an example. In 2022, Extreme Krypton delivered 71,900 vehicles throughout the year, exceeding the annual target. Among them, Extreme Krypton 001 is the only China brand luxury pure electric vehicle among ten thousand clubs in the luxury car market, with an average order amount exceeding 336,000 yuan, and it continues to be the sales champion of China brand pure electric vehicle with more than 300,000 yuan. The second model, the original pure electric luxury MPV— — The delivery of Krypton 009 was started in January 2023, and the average order amount exceeded 520,000 yuan.

In fact, with the gradual deepening of electrification and intelligence in the automobile industry, the domestic high-end new energy market has huge room for growth, and it has also become a great opportunity for major independent brands to rise upwards. According to the prediction of Zhang Yongwei, vice chairman and secretary general of China electric vehicle committee of 100, in 2023, the production and sales of China new energy vehicle market is expected to increase by 40% year-on-year, and the penetration rate is close to 40%, and the overall scale is expected to reach 10 million vehicles. Combined with the analysis of factors such as vehicle supply and vehicle life cycle cost, it is expected that the penetration of high-end new energy vehicles will accelerate this year, and the sales structure of new energy vehicles will continue to be optimized from dumbbell to spindle.

In this context, Geely Automobile is actively improving the product layout in the middle and high-end market segments. In February this year, Geely Automobile officially released a brand-new high-end new energy series — — "Geely Yinhe", the first smart electric hybrid SUV, Geely Yinhe L7 officially opened the reservation and will be delivered in the second quarter of this year. In addition, Geely has also released new energy electrification technologies such as Aegis battery safety system, Raytheon Hybrid 8848, and the brand-new car operating system "Yinhe NOS", which will be installed on the Geely Yinhe L7 model for the first time.

Soochow securities released a research report saying that the layout of "Geely Galaxy High-end Sequence+Low-end Geometry+High-end Krypton" is full-priced, the launch of "Geometry+Krypton" new car, the new release of Galaxy subsequence, the two-way power of EV+PHEV, and the blessing of Raytheon hybrid technology will help Geely Automobile to accelerate its transformation to new energy sources.

Over the years, Geely Automobile has insisted on independent innovation, increased R&D investment and achieved remarkable results. It not only leads domestic counterparts, but also successfully exports advanced technology to overseas markets. Now, the income from technology and authorized services has become another bright spot of Geely Automobile’s profit growth.

In 2022, Geely Automobile Technology and Authorized Services achieved a total revenue of 1.66 billion yuan, a year-on-year increase of 29.9%.

Specifically, with Proton Automobile and Geely Automobile entering the seventh year hand in hand, Geely strategically exported a variety of products and engine technologies to help Proton achieve sales growth and make efforts in overseas markets. In 2022, Proton Motor’s performance increased for the fourth consecutive year, with a total sales volume of 141,400 vehicles, accounting for about 19.6% of the market. It was the only company in Malaysia’s automobile industry that achieved performance growth from 2019 to 2022. At the same time, Proton Motor’s sales in the international market increased to 5,406 vehicles in 2022, a year-on-year increase of 79.1%, making it an export leader in the industry.

Not only that, Geely Automobile’s technical empowerment has also penetrated into the developed countries of automobile industry for the first time. In May last year, Geely Automobile invested in Renault Korea Automobile, and will launch efficient and energy-saving fuel and smart hybrid vehicles in the Korean market. The new product adopts the world-class CMA modular architecture developed by Geely’s R&D center in Sweden, and uses the advanced hybrid technology of Geely Holding Group to provide users with an experience beyond expectations.

Behind Geely Automobile’s achievements, it is inseparable from the support and empowerment of Geely Holding Group.

"In the past two or three years, the financial position of Geely Holding is very good. Geely Holding has always maintained a fully supportive attitude towards the development of Geely Automobile and continued to help the development of listed companies. In the future, under the premise of complying with regulatory rules and marketization principles, the assets cultivated by Geely Holding are also open to listed companies. " Li Donghui, CEO of Geely Holding Group, Vice Chairman and Executive Director of Geely Automobile Holdings Limited, said.

In recent years, Geely Holding Group has made full progress towards technological transformation, making cross-border innovations in the fields of new energy technology, intelligent driving, three-electricity, on-board chips, operating systems, low-orbit satellites, etc., building the full-stack self-research ecosystem capacity around core technologies and accelerating the formation of a moat.

According to industry analysis, Geely Holding Group has laid out a series of front-end technologies, which has promoted the core competitiveness of enterprises and continuously released the ecological value of science and technology, thus continuing to empower Geely Automobile, bringing users a product experience that exceeds expectations and creating long-term returns for investors.

Focusing on building cars is not limited to cars. Under the guidance of Geely Holding Group, Geely Automobile’s accelerated transformation to intelligent technology companies has achieved initial results. Geely Automobile actively lays out the entire industrial chain of smart electric vehicles, realizes software-defined vehicles, tamps down core technologies, and develops the hard-core "technology ecology" of Geely Holding Group, promoting the rapid landing of the "Smart Geely 2025" strategy, and enabling Geely’s technology ecology to travel in the future.

Yan Jiayue, CEO of Geely Automobile Group, revealed that in the field of intelligent driving, the "Heaven and Earth Integration" version of Galaxy Intelligent Driving Scheme based on Geely Satellite will be launched soon. Geely’s self-developed centimeter-level satellite high-precision positioning module has passed the certification of vehicle regulations, and can realize real-time accurate positioning by integrating Geely satellite communication, navigation and remote sensing technologies.

In addition, the first "cloud, number and intelligence" integrated super cloud computing platform for global car companies — — Geely Star Smart Computing Center was officially launched, with a cloud computing power of 8.1 billion times per second, which can improve the overall research and development efficiency of Geely by 20%. The official launch of the Geely Star Smart Computing Center marks that Geely has entered the "smart computing era" of building cars and achieved the leading intergenerational advantage in the smart computing industry.

In the future, Geely will persist in scientific and technological innovation, continue to promote new energy technologies, and strengthen scientific and technological ecology to empower smart driving and smart travel; Deepen international business, speed up resource coordination, and lay a more solid foundation for the sustainable development of Geely Automobile.

(This article does not constitute any investment advice, and the information disclosure content shall be subject to the company announcement. Investors operate accordingly at their own risk. )

Text/Jiangnan

　　Beijing, July 16th (Yuan Xiuyue, Wang Xinyue), the client of Zhongxin. com, is different from last year’s summer file explosions, and the biggest winner of this year’s summer file will be animated movies. The reporter combed and found that this summer’s summer file gathered more than 20 animated films at home and abroad. At present, half of the top ten films at the box office are animated films.

　　Then, under the encirclement of Spirited Away’s overseas animation such as The Lion King, Pet Secret 2 and Toy Story 4, can domestic animation stand out from the encirclement?

　　The Lion King broke 400 million at the box office.

　　The recent movie box office may explain the truth that there are still a few people who will pay for their feelings. Miyazaki Hayao’s Spirited Away was re-released in less than a month, with a box office of nearly 500 million. The live-action version of "The Lion King" was released for 5 days, and the box office exceeded 400 million. According to the forecast of Cat’s Eye Movie Professional Edition, the final box office of The Lion King may be nearly 1 billion.

　　If Spirited Away’s box office is that the audience "makes up for the movie tickets that have been owed for many years", then The Lion King is a reconstruction of memories.

　　The plot and music have not changed, but as Disney’s biggest emotional card, The Lion King has attracted many people to revisit it.

　　Some people also commented that the short board of the live-action version just can’t be as unconstrained and imaginative as animation. It is also considered that the performance of fake animals is not rich enough, "facial paralysis." Some people make fun of it, and Zhao Zhongxiang’s dubbing is the "animal world".

　　At present, the douban score of the live-action version of The Lion King is 7.5, which is much worse than the animated version of 9.0. However, it is not bad among several Disney animated films imported from China, second only to Fantasy Forest and Aladdin (7.8 points).

　　After the Spring Festival in 2019, a Disney animated film will be released every other month. From Dumbo in March to Aladdin in May to The Lion King in July, there is the official Little Mermaid by Mulan. Disney’s plan to shoot a live-action version is in full swing, but at present, it seems that relying on IP is not easy.

　　Two Hollywood classic IPS are both cold.

　　Another recent American animated film, Pet Secret 2, is no better than its predecessor, with a box office of only 70 million yuan in the first week and only 130 million yuan at present.

　　In 2016, this film, created by the original cast of Despicable Me, won 389 million box office in China, and also won the most profitable movie in Hollywood that year. It tells the story of pets fighting with each other when their owners are not at home.

　　As a film that focuses on "selling cute", the narrative line of "Pet Secret 2" is more complicated, but it is not lacking in entertainment. Many people evaluate it as cute and interesting. However, some people think that the plot is young and old-fashioned, and it is not as good as the first one.

　　It is not easy to "sell cute", and it is even harder to sell new ideas. When The Secret Life of Pets was released, some people once called it an animal version of Toy Story. This summer, the results of Toy Story 4 were not satisfactory.

　　As a sequel, Toy Story 4 was produced with great care. It regrouped classic dubbing lineups such as Tom Hanks and tim allen, and 100,000 people scored 8.8 points in Douban. Some people commented that Toy Story 4 drew a satisfactory conclusion for this series.

　　However, unlike the popularity of the North American market, the film earned only 199 million yuan at the domestic box office. Some people think that this is because the release schedule hit Spirited Away. Some experts also commented that the series of movies are easy to make the audience feel aesthetic fatigue.

　　The two Hollywood classic IPS are both cold. It seems that it is no longer tried and tested to "lean on" IP and "hold" the box office.

　　Nezha vs. Full-time Master

　　In the summer of 2015, "The Return of the Great Sage of Journey to the West" emerged as a dark horse, relying on the word-of-mouth fermentation of "tap water" and made a box office of 956 million. Some people called it a phenomenal work of domestic animation in the past 10 years.

　　More importantly, it broke the stereotype of domestic animation "being young". After that, some good works appeared in domestic animation, such as Big Fish Begonia, Great Protector, White Snake Origin and so on, but none of them can become phenomenal works.

　　Recently, several domestic animation "Seed Players" will be released soon, including Ne Zha’s "The Peak Glory of Full-time Masters", "Future Machine City" and "The Battle of Luo Xiaohei".

　　Similar to The Return of the Great Sage, Ne Zha also draws on the traditional stories of China. However, its adaptation is bolder. Nezha Jr. wears dark circles and has a perverse image.

　　In the movie, Nezha is not a young hero, but "born as a demon", but has a heart to be a hero. Only by struggling with fate can you become a hero. Jiaozi, the director, once said that the theme of the film is "Breaking stereotypes and reversing fate". Recently, the film opened the first round of screening, almost full, and won a lot of praise.

　　Its most direct competitor is The Peak Glory of Full-time Masters, which is adapted from Internet IP. The film tells the story of Ye Xiu, a professional e-sports player with a great god level, leading the team to overcome difficulties and reach the peak of glory.

　　Although it is not as popular as Nezha’s "national IP", there are novels and cartoons ahead, and more than 160,000 people still mark them as "want to read".

　　It is worth mentioning that there will be fresh faces in the summer file, such as Future Machine City, which was bought by Netflix for overseas distribution rights, and the big movie Luo Xiaohei, a high-scoring animated short film.

　　Japanese national IP accompanies China animation market.

　　In recent years, Japanese animated films have been in a state of accompanying running in China. Except for "Your Name" in Makoto Shinkai, which has a box office of 570 million, and nearly 500 million in Spirited Away, the rest are carnivals of a few people in China, which failed to continue its box office miracle in Japan.

　　The Night of Destiny — — The Cup of Heaven II: Butterfly of Destiny was released for 5 days, with a box office of over 25 million and a douban score of 7.9. The film is based on the third story line in the Japanese adventure game Night of Destiny, which is called the top IP of ACG (animation) circle.

　　However, some people have commented that this film is very unfriendly to ordinary audiences. If you don’t understand the world view and story line of this series, I’m afraid you won’t understand it.

　　Another Japanese "God-class" IP "Game Life Zero" will soon be released in China. The film is adapted from the light novel of the same name written by Mimiya You. It tells the story that six thousand years ago, for the hope of human survival, Hubby, a girl from Kikai, joined hands with human leader Ke to launch the battle of "love". As early as two years ago, the film was released in Japan and performed well at the box office.

　　In addition, cartoons for young children are still an indispensable part of the summer file, and "Sail 7: Crazy Machine City" and "GG Bond: The Incredible World" all arrive as scheduled. Last year, the movie "Sail 6" exceeded 100 million at the box office, and "GG Bond: The Incredible World" was recently released, with a box office of 30 million. (End)

Dutch brother, Jake Gyllenhaal and Jacob Bartrand laughed heartily.

The main creative team of the film Spider-Man: Heroic Expedition, jointly produced by American Columbia Pictures and Marvel Pictures, recently appeared at CCXP in Sao Paulo, Brazil. Actors Tom Holland, Jake Gyllenhaal and Jacob Bartrand attended the event. There was not only close interaction between the main creator and the fans, but also a number of movie materials were released. The new version of Spider-Man’s battle dress was cool and exquisite, and the first trailer was full of material. During the trip to Brazil, the filmmakers were full of sincerity.

Dutch brother, Jake Gyllenhaal and Jacob Bartrand danced live.

Spider-Man’s surprise at the comic exhibition continued, and Dutch brother’s impromptu dance smashed the audience.

The movie Spider-Man: Heroic Expedition recently appeared in the Comic-Con in Sao Paulo, Brazil. This time, the official sent three important roles-Tom Holland, the new version of Spider-Man, Jake Gyllenhaal, the secret guest, and Jacob Bartrand, Spider-Man’s friend Ned. The three leading actors interacted closely with fans at the press conference, and performed an impromptu dance with the famous song September by the famous band Earth, wind&fire, and the atmosphere was instantly ignited.

It is worth mentioning that Tom Holland released a selfie video during the exhibition. At the end of the video, he actually caught Jake Gyllenhaal practicing Spider-Man’s spinning, as if he was playing a spider but was discovered by the owner. Tom froze for a few seconds, then smiled smugly, while Jake Gyllenhaal on the other side closed the door awkwardly. Jake Gyllenhaal is a well-known movie star in Hollywood. He has starred in many blockbusters, including Brokeback Mountain and Source Code. In Spider-Man: Heroic Expedition, he will play the mysterious guest in Spider-Man’s sworn enemy "The Evil Six".

Spider-Man new battle suit

Heavy notice, on-site release of new battle clothes, surprise appearance

In addition to the interaction of the creative team, the film also released two new versions of Spider-Man battle clothes. The first edition is a classic red and blue color matching suit, which is more refined and slim than the first one, and the color tone is darker than the original one, which looks more mature. The other version of the black suit, known as the "stealth suit", is dark and equipped with a pair of special glasses. The most surprising thing is that the suit is wearing a S.H.I.E.L.D. badge, and the identity of Spider in the second part is expected.

In addition to two new battle suits, the first trailer carried a lot of shocking materials and was released. In the trailer, Spider and his classmates came to Europe to play along the Venice Canal. However, the good times did not last long. European cities were suddenly attacked, and Spider-Man stepped forward again. The live fans responded enthusiastically after watching it. It is reported that the new version of the preview will be released globally next week, and the mystery of Spider-Man: Heroic Expedition will be officially unveiled.

Dutch brother and Jacob Bartrand made a surprise appearance.

Spider-Man: The Heroic Expedition is directed by Jon Watts and co-starred by Tom Holland (Spider-Man: The Return of Heroes, Captain America: Civil War), michael keaton (Focus, Bird Man), Jake Gyllenhaal (Source Code, Brokeback Mountain), samuel jackson (Pulp Fiction, Inglourious Basterds) and Zandaya. The film will be held on July 5, 2019.

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 ~

    On March 21, 2022, China Eastern Airlines Yunnan Co., Ltd. Boeing 737-800 (registration number B-1791) carried out a scheduled passenger flight from Kunming Changshui Airport to Guangzhou Baiyun Airport. At 13: 16, the plane took off from Kunming Changshui Airport. After 64 minutes, it deviated from the cruising altitude of 8,900 meters and quickly descended. It crashed near Moguang Village, Langnan Town, tengxian, Wuzhou City, Guangxi Zhuang Autonomous Region. All 123 passengers and 9 crew members on board were killed.

    The Civil Aviation Administration of China, in conjunction with relevant departments, conducted a technical investigation on this accident in accordance with the China Civil Aviation Regulations "Provisions on Technical Investigation of Civil Aircraft Accidents" (CCAR-395) and the relevant provisions of Annex 13 of the Convention on International Civil Aviation. The main progress is as follows:

    First, the search, identification and analysis of the wreckage. Organize the search for physical evidence of the wreckage, identify the main wreckage, take photos to collect evidence, mark the location of discovery, and make a map of the location of the wreckage; Conduct special technical investigation on aircraft structure, flight control system, engine and other wreckage, and analyze the attitude of the aircraft before falling to the ground and the possible working state of key control components; Send the engine parts, control system parts and other important wrecks to the laboratory for analysis to determine the cause of damage.

    Two, flight operation and aircraft airworthiness. Investigate the crew members’ technical status, health status and actual performance; Investigate the release plan, load balance, performance calculation, operation monitoring and crew preparation of the incident flight; Investigate the company’s safety management, training management, personnel qualification management, maintenance management and other organizational management; Investigate the implementation of aircraft airworthiness instructions and service notices, the maintenance of routes and scheduled inspections, and the maintenance of faults; Investigate and analyze the fuel filling and fuel quality of the incident flight; Integrate monitoring data, video recording, etc., and analyze the flight state of the aircraft in the final stage; Repair the damaged recorder and analyze the obtained data.

    Third, the flight security situation. To investigate the qualifications of security personnel and the working conditions of facilities and equipment at the take-off airport; Investigate the routine inspection and maintenance of runways, taxiways, taxiways and apron pavements used by the incident flights; Investigate the qualifications of air traffic controllers, communication, navigation and monitoring equipment, air traffic control automation system, air traffic control command process and air route weather conditions; Investigate the basic information, security inspection and loading of passengers, luggage, goods and mail; Check the dangerous goods carrying information of the incident flight and the dangerous goods training of the crew and related support personnel.

    After investigation, the flight crew and cabin crew of the incident flight held valid licenses and certificates, and the flight, duty and rest time met the requirements. The physical examination before the flight on that day was qualified, and the crew qualification and configuration met the requirements; The airworthiness certificate of the incident aircraft is valid, and the qualifications of relevant maintenance personnel meet the requirements; No faults or abnormal conditions were found in the aircraft system, fuselage structure and engine before take-off, and no faults were reserved; The qualification of relevant operation support personnel on the day of departure airport meets the requirements, the facilities and equipment work normally, and the operation and operation conform to the working procedures; The qualification of relevant air traffic controllers meets the requirements, the communication, navigation and monitoring equipment works normally, there is no abnormality in radio communication and control command before the incident, and there is no dangerous weather report in the airspace and flight altitude of the aircraft at the time of the incident; The flight of the incident met the requirements, there was no cargo mail declared as dangerous goods, and there was no evidence that there were dangerous goods in the cargo mail and luggage.

    Subsequently, the technical investigation team will continue to carry out experimental verification and cause analysis, and release relevant information in a timely manner according to the progress of the investigation.

Husband and wife lung film (data picture)

　　Starting from June 12th, all three-star hotels in the eighth district of Beijing can get the English Translation of Chinese Menu from the Catering Management Office of the Tourism Bureau, and more than 2,300 Chinese dishes finally have their own fixed names. From now on, foreigners coming to Beijing will no longer be "on tenterhooks" about ordering Chinese food. However, the English translation of these Chinese dishes has gone through a difficult process from ridiculous to standardization and regularization. The English translation of Chinese food used to be ridiculous.

　　Chen Lin, a professor at Beijing Foreign Studies University, is a core member of the translation team of "Olympic Menu", and he participated in the translation of "Olympic Menu" all the time. When he and his colleagues saw the ironic English translations of many Chinese dishes, they felt a heavy sense of mission while laughing.

　　"The standardization of English translation of Chinese food began in 2006." Chen Lin said, "At that time, the Beijing Foreign Affairs Office and Tourism Bureau organized some old professors and started this work in cooperation with the translation room of the Ministry of Foreign Affairs. We collected more than 6,000 kinds of China dishes, then reduced them to more than 2,600 kinds, and finally determined more than 2,300 kinds for translation. " Experts who have been engaged in foreign language teaching and research for many years, such as Chen Lin, couldn’t help laughing after seeing the original English translations of these Chinese dishes.

　　For example, "Mapo Tofu" is translated into "bean curd made by a pock-marked woman" (tofu made by a woman with freckles); "Husband and wife＇s lungslice" is translated into "hubband and wife’s lung slice"; "Broiler" is translated into "Chicken without sexual life" (chicken without sexual life), and these English translations are reported by the media as news.

　　"There are many others. For example,’ Braised lion’s head’ is literally translated. Like’ husband and wife lung slices’, who dares to order such a dish from a foreigner who doesn’t know?" Chen Lin said with a smile, "To this end, we have formulated seven principles for the translation of dish names, including trying to keep the cultural color contained in the dish names, expressing the raw materials, tastes and practices of the dishes, trying to keep the commonly known names as agreed, trying to be concise and to the point, and then dealing with special situations." Now, the above Chinese dishes finally have an official name in English. MapoTofu is transliterated as Mapo Tofu, Broiler Chicken is literally translated as Steamed Spring Chicken, and Braised Pork Balls in SoySauce is translated as Braised Pork Balls according to raw materials and production methods. Similarly, "Husband and wife lung slices" is translated into "Beef and Ox Tripe in Chili Sauce" (beef and tripe in Chili sauce).

　　Experts also argue in the process of translation.

　　Since it is a translation, there is bound to be an argument. "This is normal." Chen Lin said, "For example, some people translate it into delicious pork meatballs, and some people translate it into sour and sweet meatballs. After discussion, we finally think that the later translation is more appropriate, so the English translation that appears on the menu is the pinyin of" Gollum Meat "in front and the taste" ‘Sweet and Sour Pork with Fat‘ "in the back. "Chen Lin said that all the people involved in the Chinese-English translation of this dish name are equal, and anyone’s opinion may be rejected. "For example, one translation of’ shredded pork with fish flavor’ is’ pork strips with fish flavor’, but some people suggest that’ fish flavor’ doesn’t seem to have a fixed taste, which makes sense. Although I agree with the above translation, I followed everyone’s meaning and finally translated this dish into’ pork strips with sweet and sour taste’."

　　"The name of the dish can’t be too long. Our primary purpose is to let foreigners know the raw materials, tastes and practices. The China culture contained in the name of the dish can only be covered as much as possible. It is impossible to list long paragraphs on the menu to explain the origin of’ kung pao chicken’ or’ crossing the bridge rice noodles’. The spread of China culture and China food culture is indeed very important, but we hope that these will become the conversation materials at the dinner table. For example, through the introduction of tour guides, the mission of spreading food culture should be better. "

　　Therefore, on the menu, all the dishes with the word Gong Bao are prefixed with "KungPao", and the most common translation is "practice+raw materials+taste", and special circumstances need special treatment. "For example,’ Buddha jumps over the wall’ can’t be translated directly, so you can only use Pinyin, and indicate the materials and practices, so that foreigners can understand it at a glance." Chen Lin said.

　　The inexplicable translation of the name is more than the name of the dish.

　　The translation of "Olympic Menu" has aroused great concern, not only in China media, but also in many foreign media. For example, the Washington Post published a full-page report on the Chinese-English translation of the "Olympic Menu" on the front page. They can’t help sighing that they won’t be puzzled by the strange names of dishes when they arrive in China. In fact, it is not just the English translation of Chinese food that puzzles foreigners.

　　"Before translating the names of dishes, we have done many other translations, including signs and road signs in public places, and we have seen more jokes, such as’ Be careful of falling into the water’ being translated into’ falling into the water slowly’ and’ Don’t trample on the green land’ being translated into’ Greenland’, but this English word refers specifically to’ Greenland’." Chen Lin said.

　　Chen Lin also used the words of foreign friends to emphasize the importance of standardizing the translation of dish names. Some foreign friends told Chen Lin that it is better not to change some existing translations. For them, these translations are very interesting. In this case, they can communicate with their friends. They even suggested that a related museum should be established.

　　"When I was interviewed by foreign media, I said that there are historical reasons for this situation in China. Now, these efforts we have made for the Olympic Games are to provide convenience for them and also reflect the overall English level of our country, so it is very meaningful to do this work. " Chen Lin said.

Editor: Li Erqing

CCTV News:Following Wuxi, Jiangsu Province, cherries imported from a vegetable wholesale market in Shijiazhuang have also tested positive for nucleic acid recently. Shijiazhuang Municipal Market Supervision Administration issued the "Emergency Notice on Suspending Imported Fruits in the City". From January 24th, the food production and business operation units in Shijiazhuang suspended the purchase of imported fruits. The county market supervision and management bureaus carry out comprehensive investigations on the enterprises that store, process, produce and sell imported fruits within their respective jurisdictions, and all the imported fruits sold on shelves in the whole city shall be sealed off the shelves, and all the imported fruits in existing stocks shall be sealed on the spot.

Although Shijiazhuang officially announced on January 25th that after re-inspection of relevant products and personnel, the test results were all negative, and no COVID-19 virus was found. As soon as the news that many imported cherries were positive came out, many consumers were worried that imported cherries could still be eaten with confidence. What does it mean that its nucleic acid test is positive?

Wu Zunyou, chief epidemiologist of China CDC, said that nucleic acid positivity is not the same as infectivity: on the one hand, the temperature of preserved fruits is higher than that of frozen fish and other foods, and the virus has a short survival time at the temperature of preserved fruits; On the other hand, the nucleic acid test is positive, which may be a live virus or a dead virus or virus fragment, and it is not necessarily contagious. Wu Zunyou reminded that as long as you pay attention to hand hygiene and wash with running water before eating fruit, there should be no risk of infection.

Feng Zijian, deputy director of the China Center for Disease Control and Prevention, also said that positive detection does not mean infection with the virus. "It depends on the amount of pollution, and whether the polluted virus is active." Take Wuxi as an example. The imported cherries in Wuxi are positive for nucleic acid, and the virus load is very low, which will not cause too much infection risk to consumers. Feng Zijian said that people engaged in food processing or handling were infected before because they had been exposed to the virus for a long time and many times. For consumers, imported fruits generally do not cause infection, and they can be safely eaten after cleaning.

　　Spring comes as scheduled, everything is sunny, and the world is warm. I wish your days are full of sunshine. Let’s take a look at what friends circle copy can be sent with Minnan. com Xiaobian ~

When the spring breeze blows head-on, I stand behind you, as if spring is pushing you towards me.

　　I fell in love with this disturbing encounter of the world.Fall in love with the tacky and heavy spring that keeps repeating/Yu Xiuhua "Source"

　　"At this moment, under us are tender grass everywhere, the fields are dyed green again, the trees begin to sprout, and the jungle is dressed in green again, which is the best time of the year."/Virgil "Pastoral"

　　Warm rain, sunny wind, breaking the ice at the beginning, willow eyes, plum cheeks, have felt the heart of spring./Li Qingzhao’s "Die Lian Hua"

　　Some emotions in spring came into my body before spring./Yu Xiuhua "Unjustified Joy"

　　What is taken from here in winter will be returned to you in spring./heinrich heine

　　As soon as spring comes, cherry blossoms bloom on the island./Yoshiya Nobuko "Flower Story"

　　Spring is back. earthLike a child who knows poetry./Rilke

　　The first spring contains too many clear things: moss roses, lonely blue irises and peonies under my window. I look forward to the change of seasons and the arrival of the new year. Then the memories began to mix, the time began to fly, and the years began to overlap, making it difficult for me to distinguish the time in the memories./Naipaul

　　When the spring breeze blows head-on, I stand behind you, as if spring is pushing you towards me./Lin Shumandi "Like"