[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]

Following the installation of the HarmonyOS intelligent cockpit, the HUAWEI ADS 2.0 advanced intelligent driving system was first launched on the M5 series intelligent driving version of AITO, and the "double intelligent ceiling" will be intellectualized to a new height in the industry.

On April 17th, AITO’s M5 Series Huawei Advanced Intelligent Driving Edition (AITO’s M5 Intelligent Driving Edition) was officially launched. Further expand the matrix of high-end smart products of the series of vehicles, including 279,800 yuan for the M5 two-wheel drive intelligent driving version and 299,800 yuan for the four-wheel drive intelligent driving version; Wenjie M5 pure electric intelligent driving version is 289,800 yuan, and four-wheel drive intelligent driving version is 309,800 yuan.

As another high-end smart electric vehicle product jointly designed by Celestial Automobile and Huawei, Zhang Xinghai, the chairman (founder) of Celestial Group, said on social media: "The M5 Smart Driving Edition of AITO was officially unveiled today! The deep cross-border cooperation between Celestial Auto and Huawei has achieved fruitful results again. The two sides have always followed the idea of "software-defined cars" and polished every product from the perspective of user experience, so as to promote the high-quality development of high-end smart new energy vehicles in China! Whether the product is good or not, the user has the final say. Welcome everyone to test drive first, experience first and then buy a car! "

It is reported that at present, AITO Wenjie M5 series intelligent driving version and AITO Wenjie M7, a six-seat SUV model, jointly designed by Celestial Automobile and Huawei, have appeared in Hall 6.1 of the 2023 Shanghai Auto Show, attracting many visitors with the charm of smart luxury products.

Open a new era of wisdom with "double wisdom"

Once the series of models of Wenjie were launched, they were called "intelligent cockpit ceiling" by many users. With the launch of HUAWEI ADS 2.0 advanced intelligent driving system released at the same time on April 17th, the intelligent driving version of Wenjie M5 will also become "intelligent driving ceiling", and the genes of double intelligent ceiling will be further upgraded in Wenjie M9, equipped with the latest HarmonyOS and Huawei ADS, which will bring common and new intelligent experiences.

It is worth noting that, as the first vehicle equipped with HUAWEI ADS 2.0 advanced intelligent driving system, Wenjie M5 Intelligent Driving Edition is equipped with an overhead laser radar, three millimeter-wave radars, 11 high-definition cameras and 12 ultrasonic radars, and the new antenna technology is superimposed to double the signal, taking the lead in realizing high-speed and urban advanced intelligent driving functions independent of high-precision maps, bringing an infinitely high-order intelligent driving experience close to L3.

On the basis of integrating BEV(Bird Eye View) perception ability, the M5 series intelligent driving version of AITO Jiejie is the first GOD network in the industry, which can identify alien objects outside the white list of general obstacles. Combined with the road topology inference network, vehicles can drive with or without maps, so that vehicles can see, understand and drive better.

In order to solve the problem that the intelligent driving function encounters difficult road conditions in highly complex scenes, Huawei pioneered the intelligent driving interactive game algorithm, which can solve more than 70% of the interactive scene takeover problems, shorten the transit time by 40%, and make the intelligent driving performance of vehicles more like experienced "old drivers". At the same time, a rich scene library is built through the AI ? ? training cluster, and tens of millions of kilometers of simulation tests are carried out every day, and difficult scenes are excavated. With massive data, the intelligent driving algorithm and scene strategy are continuously iterated and optimized, making the vehicles smarter and smarter.

AITO’s M5 series intelligent driving edition is equipped with the latest HarmonyOS 3 system, which brings many new functions, not only a very intelligent new experience-the brand-new super desktop function allows the mobile phone head to apply a seamless direct train, and the application can navigate when it touches the train; Passengers can also access the super desktop, and the private song list can be easily played; In addition, the smart assistant of the car-mounted Xiaoyi cooperates with the high-quality parking service provider Jie Parking to provide users with one-stop indoor navigation service.

In addition, this new model is equipped with MagLink magic car interface. MagLink defines the interface standard of extended ecological equipment, with 27W fast charging, ultrasonic position identification, magnetic child lock anti-pinch and 25KG mounting capacity. It can be combined with Huawei MatePAD, and it can be linked with multiple devices around the cockpit to build a user-insensitive PAD boarding scene, and the entertainment office learning space can be switched in seconds.

Two-way empowerment "Sailis model" industry leader

In addition to the M5 series intelligent driving version of AITO, in this auto show, AITO booth also brought six luxury intelligent electric SUV M7, DE-i super electric drive intelligent technology platform and extended-range three-in-one intelligent generator set.

As the key module of DE-i super electric drive intelligent technology platform at present, Celeste extended-range three-in-one intelligent generator set adopts deep Miller cycle technology, and the compression ratio is as high as 15:1. The generator adopts oil-cooled flat wire hybrid winding technology, the winding crown size is reduced by 10%, the efficient working range of range extender accounts for more than 90%, and the oil-electricity conversion rate is ≥3.36kWh/L, which is in the leading position in the industry.

Thanks to the DE-i super electric drive intelligent technology platform, the two extended-range models, M5 and M7, have the characteristics of high performance, long battery life and low energy consumption. They not only have flexible ways to replenish energy with oil and electricity, but also bring an extraordinary driving and control experience of "double performance and half fuel consumption".

From the intelligent cockpit to the intelligent driving, the intelligent level of the M5 series vehicles in Wenjie has achieved the leading position in the industry, and the comprehensive quality has been recognized by consumers and highly praised by many well-known media. The recognition of the market is inseparable from the empowerment of Huawei’s core technology, and it is also inseparable from the strong strength of Kailisi Automobile in intelligent manufacturing, technology research and development, and quality control.

As early as 2016, Celestial Auto foresaw the layout of high-end electric vehicle R&D field, and the annual investment in innovative R&D exceeded 10% of sales revenue, with a cumulative investment of over 10 billion yuan in six years. As a self-sustaining person of new energy technology, Sailis Automobile always insists on self-sustaining and self-research of technology. Build software and hardware integrated R&D capabilities, including "full-stack self-research+system integration", covering five major vehicle functional domains such as intelligent vehicle control, intelligent electronic control, intelligent cockpit, intelligent network connection and intelligent driving, so as to create products and services with the ultimate experience, comfort, convenience and sustainable growth for users.

Focusing on users, Sailis Auto actively explores a "four-in-one" intelligent manufacturing architecture: one hard+one soft+one network+one platform. Realize the full value chain coverage of research, production, supply, sales and service and the intelligent operation of the whole process of the factory. In Celestial’s smart factory, advanced technologies such as AI vision and big data are integrated through intelligent equipment, achieving 100% intelligence of key processes and 600+ key quality control points of the whole vehicle, meeting the needs of multi-vehicle lean, flexible, digital, intelligent, customized and ecological production.

Empowered by the core technologies of Cyrus Auto and Huawei, in 2022, AITO brand successively released three products, namely, Wenjie M5, Wenjie M7 and Wenjie M5 pure electricity, and sold nearly 100,000 vehicles in more than one year, with excellent user reputation. Behind the outstanding product strength is the practice that Sailis Automobile insists on defining cars by software and resolutely serving users wholeheartedly.

As the earliest participant in Huawei’s smart car selection model, the deep cooperation between Celestial Automobile and Huawei is continuing to bear fruit, and the cooperation between the two sides is also continuing to deepen. In February this year, the two sides signed an agreement on deepening cooperation in joint business. Recently, the two sides jointly released the M5 series Huawei advanced intelligent driving version, and the flagship SUV AITO intelligent driving M9 based on the new D-class luxury SUV platform will also be released in the fourth quarter of this year. The two sides will continue to deepen cooperation, and on the basis of solid cooperation, continue to promote the growth of the "smart car selection" model, bringing more value to the industry and the market.

Original title: After 9 years of new cars, Volvo’s brand-new XC60 was replaced and sold for 369,900-609,900 yuan.

As early as nine days ago, the ticket circle was screened by the preheating poster of Volvo’s new car listing. Volvo broke the ice from northern Europe, which was the ninth day of the countdown to the listing of the new XC60. The most obvious information obtained from the poster was not only the listing time, but also the pure Nordic descent of Volvo born in Sweden. Up to today, we have just collected nine posters calling for "Dragon" with different natural scenery and humanistic customs. We can see Volvo’s historical footprints all over the world and coming to China across the ocean, and we are also full of expectations for this luxury SUV focusing on humanities and technology.

However, the countdown to the warm-up of general activities starts from the conventional number of "6" days or "3" days. This time, Volvo chose to show it with 9 pictures. Presumably, in addition to the constant inspiration, there are other deep meanings, such as the new car that has been replaced for 9 years-the brand-new XC60.

On November 3rd, the last first-generation domestic Volvo XC60 was officially rolled off the assembly line from Chengdu factory, and the first-generation XC60, which debuted in March 2008, successfully withdrew from the historical stage after nine years of wind and rain. Subsequently, the second-generation Volvo brand-new XC60 also made its domestic debut at the Guangzhou Auto Show and began to be pre-sold. As the sales pillar of the Volvo family, it first entered the XC60 in China by pure import in April 2009, completed the listing of the modified model in August 2013, and finally made it domestically and went on sale in the Chengdu factory in November 2014. Nowadays, the brand-new XC60 has also been made in China, and it was officially launched today. The new car has launched eight models with three kinds of power, and the price is 369,900-609,900 yuan. At the same time, Volvo also launched the exclusive "extraordinary courtesy" of the new XC60: the first 6,666 car owners will receive free insurance for two years.

There is no doubt that the new XC60 listed this time is of great significance to Volvo. Let’s put aside its status as a heavy product that has been replaced and carefully polished after nine years of precipitation. As far as the XC60 is an important strategic position for Volvo itself, even if the previous generation model has been on the market for nine years, its sales volume is still ranked NO.1 among Volvo’s many models, so it is self-evident how important this car is. So what changes have been made to the new car in terms of products, and what changes will its arrival bring to the domestic luxury medium-sized SUV market structure? Let’s take a look with these questions.

In terms of design, the new XC60 continues the design style of XC90, especially the family-style classic elements such as the highly recognizable "Raytheon Hammer" LED headlights, the "Viking Axe" taillights and the flagpole exterior rearview mirror, all of which appear on the new XC60. A large number of vertical line elements have also created an atmosphere full of muscle and strength for the new car. In addition, the new car also offers two design styles, the deluxe version and the newly designed R-Design sports version, to meet the personalized and diversified needs of users. The new XC60 has a length/width/height dimension of 4688/1902/1658mm and a wheelbase of 2865mm, which is obviously superior in the same class.

In terms of interior, the new XC60 continues the simple family style, further explaining the exquisiteness and luxury. The new car innovatively introduces "drifting wood" as the interior material, and the exquisite lines and textures create a flowing aesthetic feeling, creating a strong Nordic style. In addition, the parts of the car that contact with the human body are all covered with soft materials to enhance the comfort.

It is worth noting that the CleanZone clean cockpit built by the new XC60 has health technologies such as IAQS in-vehicle air quality control system, CZIS active cockpit cleaning system, real-time monitoring of AQI PM2.5, and anti-sensitivity control of interior materials. In particular, the active cockpit cleaning system innovatively introduces the exhaust function. When the temperature outside the car exceeds 10℃, the new car will automatically start the ventilation equipment after remote control unlocking to disperse the dirty gas accumulated in the car and keep the air inside the car natural and fresh. In addition, the Nappa leather seat is ergonomically designed, providing up to 45 kinds of electric massage combinations, and has the only electric leg and lateral support in its class, providing a more comfortable riding experience.

In addition, the 9-inch vertical central control display screen, 12.3-inch LCD intelligent instrument panel and HUB head-up display configuration assembled in the new car add a lot of sense of science and technology. The crystal electronic shift lever, one-button start knob and driving mode selection impeller from Orrefors, Sweden are made with precision and meticulous materials, which fully embodies the Scandinavian aesthetic luxury design featured by the new XC60.

Volvo, which is famous for its safety, is naturally sloppy in the new XC60. The new car is equipped with ACC adaptive cruise control system, driver safety warning control system, FAHB fully intelligent active high beam, BLIS enhanced blind spot information system and LKA lane keeping auxiliary system. At the same time, the new XC60 is also equipped with the Pilot Assist function, which can realize autopilot assistance within 0~130 km/h.. It is worth mentioning that the new XC60 also comes standard with the upgraded City Safety urban safety system. Compared with the previous generation models, the system has added three new active safety technologies: emergency avoidance auxiliary function, intelligent avoidance of opposite vehicles and intelligent avoidance of vehicles coming in blind areas, which can protect driving safety in all directions.

In terms of power, the new XC60 provides T4, T5 and T8 hybrid power levels. Only the T4 power model is two-wheel drive, and the other models are four-wheel drive. The T4 model has a maximum power of 190 HP and a maximum torque of 300 Nm. The T5 model has a maximum power of 254 HP and a maximum torque of 350 Nm. It is worth mentioning that the T8 hybrid version of the car has a comprehensive maximum power of 407 HP, a comprehensive maximum torque of 640 Nm, an acceleration of 0-100 km/h in only 5.3 seconds, a comprehensive fuel consumption as low as 2.3 liters /100 km, and a strong power level.

Write at the end:

According to the data, Volvo’s sales in the country maintained a strong growth trend in November, leading the world with nearly 30% sales growth, and successfully broke through the 100,000-vehicle mark in late November, and the annual sales volume is expected to set a record for the fourth consecutive year. As the sales pillar of Volvo cars, S90, S60L and XC60 also performed brilliantly, among which XC60 accounted for nearly one-third of Volvo’s total sales in China. Now the new XC60 will undoubtedly boost Volvo’s overall sales.

Looking around the fiercely competitive domestic luxury medium-sized SUV market, compared with BMW X3, Audi Q5 and Mercedes-Benz GLC in the luxury brand BBA camp, and even other luxury medium-sized SUVs such as Lexus NX and Cadillac XT5, the product performance of the new XC60 is also bright. In terms of design, the original Nordic style, more powerful and energy-saving power system, outstanding configuration and leading safety system at the same level, and the scalable modular architecture based on Volvo SPA also make the new XC60 reach a new height in safety and driving control. In addition, compared with the new energy vehicles that are slightly scarce in the same class, the high-performance hybrid version provided by the new XC60 gives consumers more choices. Compared with BBA’s deep-rooted brand appeal in China, Volvo speaks for itself with the new XC60′ s solid product strength. It can be predicted that the arrival of the new XC60 will bring a powerful impact to the luxury medium-sized SUV market.

There has been a spit on the Internet, and the specific views are as follows:
1. There is no bright spot in the appearance. The typical domestic design of magic change products gives people the feeling that it is the first generation of Qin, not very advanced;
2. There are not many bright spots in the interior configuration, but it is the standard level of new power car companies;
3, similar to the ideal screen, there are no highlights such as the back screen. The propaganda is the smoothness of the central control screen and the seat. Now the new forces use more than 100 chips at every turn, and the smoothness of the car is the basic exercise;

4, the space is also very weak, the third row of media people are already spitting, in 2202, a 5-meter-long car was still propped up in the third row, which felt inferior to the small size, and even more ridiculous was that the trunk was also the smallest in the same level.
On the whole, this car is the poor foundation of the magic change platform, with too much stacking and no optimization. If it can be sold, it can only be sold through channels.

In this regard, some netizens said:
1. The chassis of this car is changed by the car, and the level depends on yourself;
2. As a person who plans to buy a second car in the past two years, this car can still be recommended. Only when the market is big can it be rolled up, but now it is impulsive to buy it. After one more year, it will be better to compare and see. After all, it is a second-generation product that has changed.

Netizen: There’s nothing wrong with your foundation. Ideal Tucki and the like don’t even have a micro foundation, so it’s just a good foundation. Mainly depends on the product perfection, after all, the new power stacking is already standard, and then it depends on how to improve the stacking.

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.

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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

　　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)

Cctv news(News Network): Today (February 16th), the main media center of Beijing Winter Olympics held the 12th regular press conference during the Games-time period, and answered questions from Chinese and foreign journalists on issues such as "broadcast and digital media data".

According to reports, the audience share of Beijing 2022 Winter Olympics has surpassed previous Winter Olympics. In addition to traditional media reports such as TV, online platforms have also carried out ultra-large-scale live broadcasts, and the live broadcast of digital media has reached a record high.

According to the press conference, the Beijing Winter Olympics will enter the second half, and then the Beijing Winter Paralympics will be ushered in. At present, the preparations for the Beijing Winter Olympics Organizing Committee are progressing steadily.

The 2022 Beijing Press Center also held a special press conference today to introduce the situation of the Science and Technology Winter Olympics.

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 ~

　　Cctv news (Reporter Li Wenliang) Selling a car and then having it stolen, even a car was sold for three times. Recently, the police in Jinan, Shandong Province lasted for half a year, starting with a car theft case, and destroyed a 30-member criminal group headed by Wang.

　　Wu Yanbing, deputy head of the Criminal Police Brigade of Lixia Branch of Jinan Public Security Bureau, said that during his 10 years in Jinan, the suspect Wang gradually evolved from an ordinary taxi driver into the chief criminal of a criminal group involved in black and evil. They formed a stable organizational system "Zhengdian Gang" by wooing fellow villagers, fighting, picking fights, extortion, theft and robbery, which greatly damaged the legitimate interests of the masses and had extremely bad social impact.

　　Selling cars and stealing cars, another case, the fugitive suspect is now in the air.

　　On January 22, 2018, Lixia police received a report from the victim Li Moumou that a black Magotan sedan mortgaged by a bank was previously purchased from Wang and others at a low price of 105,000 yuan, but the car could not be used normally due to incomplete procedures. Later, Li Moumou entrusted Wang and others to help sell the car, and the car was stolen during the sale.

　　After receiving the case, the First Squadron of Lixia Interpol quickly launched an investigation. On July 2, 2018, the car appeared in Tianjin, and the police immediately rushed to Tianjin and found that the actual user of the vehicle was Mu Mouhui, who was a cousin of Wang, both of whom were from Zhengdian, Laoling, Shandong Province. The police comprehensively analyzed and judged that the suspicion that Wang and others sold cars first and then stole them rose rapidly.

　　Subsequently, the police conducted an investigation around Wang and the people around him, and determined that the theft of the black Magotan car was the work of Zhang Mouzhi. Following this clue, it was found that Zhang Mouzhi was one of the fugitives who sought trouble with Wang and others in the police station area of Keyuan Road. On July 25, 2018, the police arrested Zhang Mouzhi.

The picture shows the police arresting the scene. (Photo courtesy of Lixia Public Security Bureau of Jinan City)

　　Uncover the curtain of criminal groups

　　After in-depth investigation, the police found that this was not a simple car theft case, but a criminal gang involving more than 30 people headed by Wang, with Zhang Mowen, Zhang Mozhi, Zhang Mobin, Sun Moudong and Xia Mouyun as the backbone.

　　Wu Yanbing introduced that Wang, the leader of the gang, drove a taxi from Zhengdian, Laoling, to Jinan in 2008. He operated well and earned a lot of money. Later, Zhengdian’s fellow villagers all came to him. Wang anchored more than 20 cars in a taxi company. The fellow villagers who defected first took driving taxis as their main business, and formed an influential "Zhengdian Gang" in the taxi industry in Jinan, with a stable organizational system.

　　Through long-term covert development, the criminal gang gradually completed primitive accumulation of capital by operating hotels, business hotels and taxi companies as economic sources, and formed an enterprise management and business model. In the meantime, in the name of recruiting hotel waiters and taxi drivers, more than 30 members were developed.

　　In the daily management, the members of the gang use WeChat group, QQ group and taxi radio as contact methods, and contact in real time. Once people are needed to commit illegal crimes, people will be gathered immediately, which will have a quick response, many members and great social harm.

　　During his hotel management in Jinan, Wang bullied the city and competed viciously. In order to monopolize the regional market, he organized and implemented a large-scale affray. In April 2017, Wang, Zhang Mowen and Sun Moudong jointly invested to run a hotel in Heping Road, Lixia District. Because of the competition for tourists, they repeatedly had conflicts with the owner of an adjacent hotel. On May 11, 2017, there was a conflict between the two sides. Wang gathered more than 20 people at the entrance of the other hotel, and the two sides confronted each other, with more than 60 participants, and the social impact was extremely bad.

　　In addition, on April 19, 2017, the criminal gang was in a hotel on Huanshan Road, which also disturbed public order and caused trouble because of competition.

The picture shows the suspect being interrogated. (Photo courtesy of Lixia Public Security Bureau of Jinan City)

　　The gang "transformed" and falsely sold mortgage cars.

　　In the early days, the gang mainly disturbed public order and made troubles. In the past year, it gradually developed into crimes such as robbery, extortion and theft. In order to achieve the purpose of illegally accumulating wealth and obtaining benefits, the gang committed crimes continuously and repeatedly.

　　From September 2017 to January 2018, the criminal suspects Wang, Zhang Mouwen, Zhang Mobin, Xia Mouyun and others discussed together, and Wang invested to buy a bank-mortgaged vehicle. After buying the car, he assembled a locator and reserved a car key. After selling the car, he stole the vehicle back; Or, Xia Mouyun posted the information about selling mortgage cars on the Internet, and forged the relevant procedures of the car. When the buyer came to Jinan to trade, he defrauded the car purchase money and then gathered people to grab the car back.

　　In the name of falsely selling the mortgage car, the gang snatched, stole and cheated the mortgage car back by means of theft, robbery and fraud after selling the car or during the transaction. The car was sold six times, and one of the Volkswagen Tiguan cars was repeatedly sold three times.

　　At present, the criminal group headed by Wang has been smashed by the police. Since July 25, 2018, the police have arrested 28 illegal and criminal members of the group, including 21 people arrested and 7 people released on bail pending trial. It was initially verified that there were 9 criminal cases involving robbery, affray, theft, etc., and the property involved was worth more than 2 million yuan. What was waiting for them would be legal sanctions. (This article thanks Zhao Yang for providing the material)

　　In day order, a world trade center where Beijingers come and go, colorful light and shadow pictures flow overhead. When the twilight closes and the street lights are on, the curtain of the glass room in the center of the pedestrian street is opened, revealing a live broadcast space that can be heard and watched: "Let’s meet! Radio.

　　Well-known musicians broadcast live performances and chats in the studio, and passers-by stop at any time to clearly hear and see everything they share. Such a glass house radio station in the market has become a "city music box", opening everyone’s memories — — What kind of music did you leave in your favorite city?

　　Be a guest, let’s meet! Radio, the post-90 s singer Gao Jialang will remember his earliest memory of listening to city radio. When he was five or six years old, he sat in his father’s car and listened to the radio music. The signal was not very good, and his voice was intermittent, but now he recalls it with special feeling. Gao Jialang can still remember that Tom Chang, Zhao Chuan and Little Tiger were playing on the radio.

　　One side of the soil and water has deeply nurtured one side of music.

　　Gao Jialang, who was born in Baicheng, Jilin Province, thinks that the northeast people are generous, and the music style of this land is high and the genre is "thirst-quenching". And other cities he walked through, such as Chengdu, gathered a lot of minority music; Shanghai music is very international; Beijing, on the other hand, has pop music whose style covers almost all of China.

　　Singer Bird’s hometown is Chuzhou, Anhui Province. He thinks that the local climate is distinct in four seasons, and "Chu and Chu are surrounded by mountains", and he has an overall introverted, simple and honest and safe temperament. And his favorite regional music is from Inner Mongolia. "It’s a little far from us, but the music there is excellent, and the singers are completely beyond my imagination."

　　"Going to every city to feel its music is the most intuitive way to let you know about urban culture." Silence Wang, a musician known as the "OST Devil", was born in Shenyang, Liaoning. From classical music in primary school, he felt that Shenyang, his hometown, was a city where classical music developed well. "I went to Shenyang Conservatory of Music, and all my teachers and classmates gave me a lot of edification about classical music. So although I am doing pop music now, many traditional things are still in my mind, providing me with a lot of creative support. "

　　Silence Wang said that good music can cross regions, but often the starting point of each music creator is "private and unique", and the growing environment will affect their inspiration and methods of creation — — "Nutrients must come from your hometown and from the place where you grew up."

　　The China mainland rock band "Tour Group" has been established for more than 10 years. Among the four members, except one Beijinger, the other three are all born and raised in Liuzhou, Guangxi. "Liuzhou is a place where it often rains, and suddenly it will clear up, and the city will come straight to the point, so the nutrients we get in this environment are concentrated in our previous albums. For example, many songs in the first album" Laifu Clay "were written in Liuzhou, and you will hear a lot from it ‘ Water-based ’ 。”

　　Tour groups and bands from the south to the north feel that they have added a lot of "fire" since they came to the north, and combined with the "water" of their original homeland, music now presents a state of harmony between fire and water.

　　The tour group band described the subtle influence of the region on music creation: "The weather in Beijing is particularly straightforward. For example, when the summer wind blows, the sweat can be stopped, unlike in the south, where the sweat sticks to the body. This straightforward feeling will be reflected in our music. "

　　In the view of members of tour groups and bands, a person’s body is actually a sensor. By walking in different regions, they can receive a lot of rich information and then integrate them into their own music creation.

　　After people leave their hometown, music becomes a journey that can be extended indefinitely.

　　Bird said, "What is a trip? I think it’s when you go to another place and feel the strange environment, and you will meet a different self, so the music here is very important. "

　　When walking around, many musicians will have the impulse to create for another city. For example, Gao Jialang, a younger brother in Northeast China, specifically mentioned that the city of Shenzhen can trigger his creative inspiration. "I am a northerner, and suddenly I went to a city with extremely high humidity and extremely hot. The color of the whole air and the tone of the city are different from where I live now, and the feeling in Shenzhen is rather hazy."

　　During his stay in "foggy" Shenzhen, Gao Jialang wrote an unpublished song, which he is looking forward to one day.

　　And every time Silence Wang goes to a city, he will pay close attention to the characteristic music there. "Like in Beijing, I went to listen to Peking Opera specially, because I think Peking Opera must be listened to in Beijing. I have also written many songs related to China’s traditional culture. Combining with Kunqu Opera and Peking Opera, China’s traditional culture can be combined with many new music styles. I have been committed to doing such things myself. "

　　Kong Yichan, the lead singer of the tour group band, said that when they travel, they are very sensitive to local music elements, including musical instruments and records, especially the "relaxing music" in Southeast Asia, and the moment when modern civilization collides with traditional culture, the experience is particularly wonderful, because they can find similarities with their band’s creation.

　　In addition to collecting the most direct music materials, all kinds of details of local customs can be "collected", even a piece of clothing and a look can be turned into a piece of original melody. Kong Yichan said that sometimes the photos he took when he traveled to a place, when he went home and looked at them again, would give rise to many unprecedented ideas, and that was the inspiration.

　　Tour groups and bands will combine the languages or temperament of different regions into one song, and their latest album was recorded in Phuket, Thailand. Wei Wei, a keyboard player, said: "We are originally a group of people who are full of gods and gods. Recording in the tropics feels particularly strong and unconstrained. People in that place are particularly interesting in talking, eating and singing, which is very similar to our aesthetics and what we want to express. "

　　And many unexplored lands are also the source of creation. The band members of the tour group said that Iceland is the place they want to see most at present. "Because that place is a fairyland on earth, there are few people. We want to face nature and feel that our hearts are very small."

　　"Live seriously, experience seriously, feel all the happiness and sadness that life brings you, and integrate these things into your creation, and your music will be more popular." Silence Wang hopes that this "visual" music station in downtown Beijing will become a brand-new urban cultural landmark. "If I were a tourist, I would like to come here very much, and I can go shopping and watch radio programs, which is very worthwhile." (China Youth Daily China Youth Network reporter Shen Jiequn)