[car home News] Although the past 2018 was not a "good year" for many brands, for BYD, which has been deeply rooted in the field of new energy, this brand still maintained a high growth rate in the case of cold car market last year. Judging from the published data, BYD sold a total of 520,700 vehicles throughout the year, up 27.09% year-on-year. Among them, there are 247,800 new energy vehicles and 272,900 fuel vehicles, basically achieving an equal share of new energy and fuel vehicles. From the brand sales data, this achievement is still very good in the case of weak automobile market last year.

　　In the next 2019, BYD will have many new cars on the market. After our combing, BYD will launch three new energy vehicles, including (|)EV 600, Song MAX DM and e1(F0 EV). In addition, S1, Song and brand-new large and medium-sized riders will also join the battle. Let’s take a look at these new cars together.

● Song MAX DM

Time to market: within 2019
New car features: the styling design has been upgraded/the comprehensive torque is 740 Nm.

　　The plug-in hybrid version of Song MAX has made a lot of noise last year, and this car will be officially launched this year. After the new car adopts plug-in hybrid technology, the highest comprehensive torque reaches an astonishing 740 Nm, and the appearance is slightly different from that of the gasoline version, and the interior part is more scientific and technological.

　　In appearance, the design of the plug-in hybrid version of Song MAX is different from that of the gasoline version. For example, the style of the front grille will change, and the shape of the fog lighting strips on both sides will be slightly different. At the same time, this car is also equipped with multi-spoke wheels. The charging port of the car is located on the right rear fender.

　　In the interior part, this plug-in hybrid version is equipped with a rotatable large-size screen used in the official map earlier, which is more scientific and technological. In terms of details, the "Song" logo on the steering wheel of the plug-in hybrid version has become a blue font, and it also uses the same electronic gear as Song DM, which is very high-grade. In the back row, we can see that the car is equipped with rear air conditioning control buttons, 220V power supply, USB interface and so on.

　　In terms of power, the new car uses a 1.5T turbocharged engine with a 6-speed dual-clutch gearbox, and at the same time, it is equipped with front and rear dual motors. The maximum power of both motors is 110 kW and the maximum torque is 250 Nm. The comprehensive power and torque of the power system are 333kW and 740N·m respectively.

● Song MAX EV

Time to market: within 2019
New car features: different design/pure electric drive

　　This year, apart from the plug-in hybrid model, Song MAX is expected to launch. We also learned from the application information of the Ministry of Industry and Information Technology that BYD has declared the pure electric version of Song MAX, a 6/7-seat MPV model with hot sales in the current market. This model inherits the family design of the fuel version, and the exterior design is only different in the middle net and the lower enclosure.

　　BYD Song MAX pure electric version has a body size of 4680*1810*1680mm and a wheelbase of 2785, which is completely consistent with the fuel version. The front face still uses the "Dragon Face" family design language. The difference from the fuel version lies in the design of the middle net, which adopts the plate array shape similar to armor, and the chrome-plated horizontal stripes in the fog light area are also slightly different from the fuel version. Tyre size is 225/50 R18, and the rim adopts ten-spoke slender stripe shape.

　　In terms of optional configuration, it is known that sunroof, luggage rack, keyless entry, lane keeping, privacy glass, panoramic image, side air curtain, wheel core cover, etc. will be installed on different versions of vehicles as optional accessories. In addition, we also see from the application information that the car is rated to carry 6/7 passengers, so it can be inferred that the car may launch two versions of 6-seat and 7-seat like a fuel car.

　　In terms of power, the pure electric version of BYD Song MAX will use a permanent magnet synchronous motor with a peak power of 120kW, and the power battery will use a ternary lithium battery with a maximum speed of 150 km/h. We know that BYD will digitally mark the cruising range of pure electric vehicles at the rear, but from the pictures provided by the Ministry of Industry and Information Technology, it is difficult to determine whether the car is EV500 or EV600.

● Edit comments

　　Although Song MAX’s plug-in hybrid model is based on the gasoline version, it has been greatly improved in terms of vehicle performance. If nothing else, the comprehensive torque of 740 Nm alone is enough to join the "sports car" club, and its arrival is a boon for consumers who have certain requirements for vehicle performance. As for the pure electric version, BYD’s pure electric drive technology is also quite mature, so there is no need to worry about technology, and it is expected to have a good performance.

　　Combined with the information of the plug-in hybrid version of Song MAX and pure electric vehicles exposed this time, they will undoubtedly drop a blockbuster in the domestic MPV market after their launch. After all, hybrid or new energy MPVs are rare in the market, and BYD’s move will certainly enhance its competitiveness in the MPV model market.

● Tang EV
Time to market: February 2019
New car features: BYD SUV and new energy SUV product series flagship/Roewe and other brands are direct competitors.

　　Tang’s car is in the limelight in the new car market in 2018. In addition to the fuel version and plug-in hybrid version that have already been listed, the pure electric drive Tang EV model was also launched in June 2018, and it was opened at the Guangzhou Auto Show in 2018. Pre-sale,The pre-sale price range is 260,000-360,000 yuan.0-100km/h takes 4.5 seconds.

　　As a new member of the Tang family, the biggest change in the design of Xintang EV comes from the grille. The brand-new matrix grille is consistent with the concept car of the previous dynasty, and its shape is like the armor of the Qin Terracotta Warriors and Horses. At the same time, the front side of the car is surrounded by larger chrome decoration and its shape is sharper.

　　Viewed from the side, the side of the new car is consistent with the DM version, and adopts the hidden C-pillar and D-pillar design. It is worth mentioning that the car will be equipped with 265/40 R22 horse brand tires and Brembo’s six-piston calipers. It is difficult to see the difference between the tail shape and the Tang DM version, and the taillight group still uses integrated LED light source.

　　In terms of interior modeling, the interior of BYD Tang EV is consistent with the DM version of Tang, and the whole is very simple. The rotatable central control screen and full LCD instrument panel still appear on the new car, and the shift lever is replaced by an electronic gear lever. It is understood that the car will provide 2+3+2 and 2+3 seat layouts for consumers to choose from in the future.

　　In terms of power, the new car is equipped with a permanent magnet synchronous motor with a maximum power of 180 kW (245 HP). According to the application information, the new car will launch three kinds of endurance models: EV500, EV550 and EV600.

● Edit comments

　　In the field of new energy, BYD is undoubtedly the leader of China brand car companies. After years of research and development, the plug-in hybrid technology of this enterprise has now entered the third generation product cycle, which is not only updated in technology, but also better in function and reliability. Pure electric vehicles have always been BYD’s main direction, so the arrival of Tang EV is not abrupt. It’s just that the pre-sale price of this new car up to 360,000 yuan after listing may discourage some consumers who pay attention to it. After all, there are plenty of options in this price range. Therefore, it also means that it has to face more pressure from competitors, but with the help of national policies and BYD’s own strength, I believe this car will have this good market prospect.

● Brand-new medium and large cars
Launch time: or in 2019
New car features: BYD’s new product sequence/expected to be adopted.

　　Speaking of the models in BYD’s product sequence, medium and large cars have always been the products that everyone is looking forward to. As early as 2015, there was news that BYD was developing a new medium and large car. According to BYD’s naming method, this car is likely to be named "Han".

　　At present, the specific shape of this car has not been exposed, but according to the information we obtained, BYD Han’s body length, width and height are 4950/1890/1490mm and the wheelbase is 2940mm, which is likely to be positioned as a medium-sized and large car. In other words, it will be the flagship model of BYD car products after its launch.

"Tesla model sp90d"

　　What is more noteworthy is that this car is equipped with a stronger plug-in hybrid system, which consists of a 2.0T engine and a 150 HP motor, while the four-wheel drive version will also use a 476 HP motor at the rear axle. Under such a powertrain blessing, BYD Han’s 0-100km/h acceleration time is expected to reach 2.9 seconds, reaching the same level as Tesla MODEL S P90D.

　　In addition, in terms of configuration, according to the information that has flowed out, this car is expected to be equipped with ACC adaptive cruise, electric suction door, head-up display, lane keeping assistance, electric rear spoiler, trunk that can be opened by induction, etc. Generally speaking, it is rich.

● Edit comments

　　Although in recent years, China brands like to get together to release products in the SUV market, the car market can’t be ignored. As long as there are good products, there is no need for consumers to recognize them. BYD’s new generation Qin, which was listed soon, is such an example. Looking at BYD’s layout in the car market, the existing models are still concentrated in the field of compact cars. When it comes to medium and large cars, this brand has not been involved for the time being, but this level of models can play a role in enhancing the brand image and has a positive effect on the establishment of consumer confidence. Establishing the flagship product is the only way for a car company that wants to build a better brand, so we also expect this car to meet with you in recent years.

[ITBEAR technology information] on February 6 th, recently, BYD Qin family welcomed a new member-BYD Qin L. This new car has passed the declaration of the Ministry of Industry and Information Technology, which indicates that it will meet with consumers soon. As an upgraded version of BYD Qin series, Qin L is positioned as a medium-sized car, which is between Qin and Han, providing more choices for the market.

It is reported that BYD Qin L has received much attention in the warm-up stage. Some bloggers broke the news that the starting price of the new car may be around 120,000 yuan, which is 20,000 yuan higher than the current Qin Plus DM-I. However, the difference of 20,000 yuan is not aimless, because Qin L will be the first vehicle equipped with DM5.0 technology, and its NEDC fuel consumption is only about 2.9L, which is far lower than the current 3.8L of Qin PLUS. This remarkable improvement will undoubtedly attract many consumers who have higher requirements for fuel consumption.

In terms of body size, BYD Qin L shows the advantages of medium-sized cars. Its length, width and height are 4830mm, 1900mm and 1495mm respectively, and its wheelbase reaches 2790 mm. This data is obviously larger than the existing Qin PLUS series models, which makes Qin L have more room to play in the internal space. At the same time, the total mass of the new car is 2035kg, and the kerb mass is 1660kg, which ensures the stability and safety of the vehicle.

In design, BYD Qin L continues BYD’s family-style "Dragon Face" design language. Its front face is equipped with a huge air intake grille, and it is available in two styles: hot stamping or not. Both sides of the grille are equipped with C-shaped air ducts, which makes the whole front look sporty. The side of the car body adopts smooth line design to create an elegant and dynamic car body posture.

In terms of power, BYD Qin L is equipped with an engine with a displacement of 1498ml, with a maximum power of 74kW. According to ITBEAR technology information, the new car will also adopt a brand-new hybrid system-the fifth-generation DM-i hybrid system, with a brand-new hybrid chassis code-named "P5" and a former McPherson rear four-bar independent suspension. This series of technical upgrades will make Qin L reach a higher level in power and economy. In addition, the new car also offers two pure electric cruising ranges of 60km and 90km, with corresponding battery capacities of 10.08kWh and 15.874kWh respectively.

Generally speaking, the appearance of BYD Qin L has undoubtedly brought new vitality to the medium-sized car market. Its upgraded size, design and power system make it a leader in its class. In the future, we have reason to expect BYD Qin L’s performance in the market.

Source: http://www.itbear.com.cn/html/2024-02/481366.html.

On September 29th, Porsche was listed on the Frankfurt Stock Exchange in Germany. On the same day, Porsche’s share price fell from the intraday high of 86.76 euros to the issue price and closed at 82.5 euros. On the first day of listing, the market value of Porsche was about 75.43 billion euros, slightly lower than that of audi ag, but it surpassed competitors such as Ferrari. According to the latest data, Porsche has become the fifth largest car company in the world by market value.

At this point, the world’s three super-running brands, Ferrari and Porsche, have all embarked on the road of capitalization, which has also triggered the imagination of Lotus.

At the beginning of this year, Lotus was also exposed to the listing information by foreign media. The official response said that Lotus Group was evaluating the stock market transactions in new york, London and China, and no relevant information was disclosed since then. Until the successful listing of Porsche, it once again aroused the interest of the outside world.

With the surge of hot money, perhaps Porsche IPO can be regarded as a landmark new node, but another more profound proposition has also been brought to the stage with Lotus’s "backwardness". Should we be in line with "money" or "front" in the new super-running era?

Porsche to the left, Lotus to the right

Judging from the news disclosed by foreign media, Lotus, as one of the three super-running brands in the world, has also moved the mind of IPO. Only in the top-level design at higher latitudes, there is something more important than IPO in the eyes of Lotus-anchoring the electrification transformation and opening a new track for pure electric intelligent super-running.

In fact, the listing of Ferrari and Porsche has provided a lot of funds for the group, and this kind of blood transfusion feedback has also been seen by the outside world.

Ferrari was originally a sub-brand of Fiat Chrysler (FCA). In 2015, Fiat divested Ferrari and obtained huge funds to repay Fiat’s debts. After Ferrari went public, its business developed well, and its share price soared. Now its market value is about $35 billion.

Today, Porsche will copy Ferrari’s path in the past, spin off from Volkswagen Group and go public independently, and even surpass the former in IPO scale and fundraising amount.

It is worth noting that for the Volkswagen Group, through this IPO, the preferred shares and original shares will be sold for 9.4 billion euros and 10.1 billion euros respectively, totaling 19.5 billion euros. 49% of the funds will be returned to shareholders in the form of special dividends, and the remaining nearly 9 billion euros will be used by Volkswagen Group to increase research and development of power batteries and in-vehicle software.

However, from the global securities market including A-shares, the attraction of IPO of automobile enterprises to capital lies not only in the current operating profit and sales volume, but also in the control and transformation of the future development direction with enterprises.

Although Tesla, which mainly focuses on pure electric intelligence, has just approached 1 million vehicles in annual sales, its global market value performance is actually four times that of Toyota, the second place with annual sales exceeding 10 million, and the third place is BYD, which started pure electric transformation as early as a decade ago and has completely stopped selling pure fuel vehicles.

In the domestic market, all auto listed companies related to the concept of new energy have made a lot of money in the securities market. Correspondingly, traditional automobile enterprises are experiencing a dark moment. In the past year, Ferrari’s share price has dropped from the highest $250 to the current $185, and its market value has shrunk by more than 25%.

From this perspective, perhaps the listing of Porsche at this time is not a good time. Although Porsche has already started the road of electric transformation, at present, only Taycan is a pure electric vehicle.

Ferrari only launched a brand-new electrification product strategy in June this year. Next, Ferrari will invest about 4.4 billion euros to develop pure electric vehicles and plug-in hybrid vehicles. In 2025, Ferrari’s first pure electric car will come out.

It must be said that in the face of the fierce tide of electrification, although brands such as Ferrari and Porsche are moving closer to new energy sources, the actions of transformation are somewhat conservative. However, Lotus has taken the courage to cross the rubicon. As early as 2019, it unveiled its first pure electric supercar Evija, and in 2021, it solemnly bid farewell to the fuel era with the sports car Emira. Now Lotus’s super-running pure electric SUV——Eletre, which takes the lead in electrification, has arrived as scheduled.

It can be said with certainty that Lotus has a firmer determination and a more thorough strategy on the road of electrification transformation. In Lotus’s view, only subversive self-innovation can rush to run in the new era of super-running. It can be predicted that in the near future, when Lotus truly leads the new super-running era, the IPO at that time will be much more valuable.

Join hands with Geely and deeply embrace the China market.

Inevitably, the electrification transformation often requires huge funds, which is why many new car-making forces have been seeking financing or IPO. For ultra-luxury brands such as Porsche and Ferrari, which are small in size but high in style, the capital investment for transformation is equally expensive.

In front of Lotus, "money" seems to be the most important part on the road of self-innovation and self-breakthrough. In June, 2017, after Geely Holding acquired 51% shares of Lotus from Proton, this English lotus flower began to bloom again in China.

In the second year after being acquired by Geely, Lotus announced that it had turned losses into profits in fiscal year 2016/2017, making the brand profitable for the first time in 40 years.

In October 2018, on the occasion of the brand’s 70th anniversary, Lotus released the "Vision 80" 10-year brand revival plan, and put forward the "Sino-British dual engine" strategy, which is a firm transformation to electrification and intelligence, and this is also an automobile enterprise that proposed formal electrification transformation earlier among traditional automobile brands.

On August 31, 2021, Wuhan Lotus Technology Co., Ltd. was formally established. Backed by Geely Group, Lotus’ initial capital plan for entering China was as high as RMB 26.3 billion. Among them, the global headquarters of Lotus Technology has settled in Wuhan Economic and Technological Development Zone, and in Shanghai, the Lotus Marketing Headquarters Building has also recently landed.

Prior to this, Lotus Technology announced the product planning for launching three pure electric smart models in the next five years: in 2022, the E-class SUV； codenamed Type132 will be launched; In 2023, the E-class four-door coupe codenamed Type133 was launched; In 2025, the D-class "pure electric intelligent new species" codenamed Type134 was launched. He also said: "With track-level intelligent driving, cutting into the intelligent driving track is the direction that Lotus Technology will set in the next decade, and it is also a completely different technical path from any other brand."

This year, on June 1st, Lotus Eletre ushered in its first show in China, and started booking in Chinese mainland. The first batch of vehicles is expected to be delivered as early as early as 2023. It is worth mentioning that it is not only the first SUV of Lotus, but also the first pure electric five-door production car and the first domestic car of Lotus. It is not uncommon for sports car manufacturers to build SUVs, but Lotus is the first one to build pure electric SUVs.

At present, Lotus Eleetre is a completely new car in China market, and its promotion and store communication should start from 0. However, under the background of Geely Automobile’s strong channel, the development of China market also allows Lotus Eleetre to avoid many detours.

At present, Lotus Eletre plans to open nearly 50 sales and service stores in about 20 cities in China by the end of this year, covering core cities such as Beishangguangshen, Hangzhou, Wuhan and Chengdu, and radiating the whole country. It will also open two major services: "Smart Home Charging" and "Lotus Flash Charging", and plans to build nearly 200 self-operated high-end flash charging stations in about 20 cities across the country.

As the global headquarters of Lotus ultra-high-end intelligent electric lifestyle models, China bears extraordinary strategic significance. As the largest single market for most automobile brands in the world, it can be said that the China market is the best in the world.

From January to August this year, the domestic production and sales of new energy vehicles reached 3.97 million and 3.86 million respectively, and the market share reached 22.9%, exceeding the original expectation. Compared with other super-running brands, it can be said that Lotus’s electrification innovation based on the China market occupies a favorable time and place.

It is believed that under the new super-running era dominated by electrification and intelligence, the Lotus brand, which is deeply involved in the transformation and innovation of China market, will definitely take the lead in the future market competition.

In car home Xi ‘an preferential promotion channel, we are pleased to announce that Chery is launching a grand preferential price reduction activity. The highest discount of this model in Xi ‘an is as high as 20,000, and the lowest starting price is only 89,900. This is a rare opportunity for you to own a high-quality SUV at a more affordable price. If you want to know more details, you may wish to click "Check the car price" in the quotation form to get higher discounts and make your car purchase trip more enjoyable.

The design of Tiggo 8 is full of power and fashion sense. The front face adopts a large air intake grille, with sharp headlights and sports front bumper, which makes the whole car look very dynamic. The air intake grille is blackened and decorated with chrome trim, which highlights the luxury of the Tiggo 8. The body lines are smooth and strong, and the overall style is fashionable and atmospheric, which leaves a deep impression on people. In addition, the Tiggo 8 is also equipped with large-size rims, which increases the sense of movement and visual effects of the vehicle. Overall, the design of the Tiggo 8 is excellent and it is a very attractive model.

Tiggo 8 is a medium-sized SUV with a body length of 4700mm, a width of 1860mm, a height of 1746mm, a wheelbase of 2710mm, a front track of 1582mm and a rear track of 1604 mm.. The car uses 235/55 R18 front and rear tires. The tires are wide and the walls are thick, which can provide better grip and comfort. The side lines of the car body are smooth, showing a tough and dynamic design style. The door adopts a streamlined shape, with chrome trim, which further highlights its fashion sense. The lines around the side glass of the car are smooth and echo the lines on the roof, forming a unique visual effect. The rim of the Tiggo 8 adopts a five-spoke design, and there is a proper gap between the spokes, which makes the whole wheel look more exquisite. Generally speaking, the side design of Tiggo 8 is simple and powerful, which makes people unforgettable.

The interior design of the Tiggo 8 is fashionable and luxurious, with a leather steering wheel, which can be manually adjusted up and down and back and forth to provide a better driving experience. The central control screen size is 10.25 inches, providing more intuitive information display and operation interface. The front and rear rows are equipped with USB and Type-C interfaces for easy connection and charging. The seat is made of imitation leather. The main seat supports front-back adjustment, backrest adjustment and height adjustment (2-way), and the auxiliary seat supports front-back adjustment and backrest adjustment. The front seats are also equipped with heating function to provide a more comfortable driving experience. The second row of seats supports backrest adjustment, and the rear seats are laid down in proportion to provide more storage space. Generally speaking, the interior design of Tiggo 8 is comfortable and practical, meeting the needs of drivers and passengers.

The Tiggo 8 is powered by a 1.5T engine with a maximum power of 115kW and a maximum torque of 230 N m.. This engine adopts L4 layout and has a power output of 156 HP. In addition, the Tiggo 8 is also equipped with a 6-speed manual gearbox, which gives drivers a more flexible driving experience. This engine can not only provide sufficient power output, but also maintain good fuel economy, saving fuel costs for car owners. Whether it is a city road or an expressway, Tiggo 8 can easily cope with all kinds of road conditions, bringing comfortable and pleasant driving experience to drivers.

In the evaluation of car home car owner @ Bon voyage, we can see that he spoke highly of the appearance of Tiggo 8. The design of Tiggo 8 is attractive, especially the black model is more classic, and the lamp design is also very reasonable, which adds more domineering to the whole vehicle. In addition, the Tiggo 8 also performs well in space, with ample front and rear row space, high seat comfort and comfortable ride, which is especially suitable for long-distance travel. In terms of power, the 1.6T engine of the Tiggo 8 is stable and reliable, with abundant power, rapid acceleration and very comfortable driving experience. In addition, the Tiggo 8 is also equipped with a number of intelligent technologies, such as full LCD dashboard, car networking, 360-degree panoramic images, etc., which provide drivers with more convenience and safety. On the whole, the Tiggo 8 is a very cost-effective model, which deserves consumers’ consideration.

Motorists in Shenyang, the price is reduced! Now is the perfect time to buy Krypton 001! Car home Shenyang Preferential Promotion Channel brings you the latest preferential information. Extreme Krypton 001 is being promoted in Shenyang, with a maximum discount of 37,000 yuan! The minimum starting price is only 269,000 yuan. If you want to know more about the discount, please click "Check the car price" in the quotation form to get a higher discount.

Krypton 001 is a futuristic electric vehicle with a unique design. The front part adopts a streamlined design to make the whole vehicle look more dynamic. The air intake grille adopts a closed design, which highlights the identity of the electric vehicle. The overall style is simple and atmospheric, giving people a very high-end feeling. The highly recognizable C-shaped daytime running lights are used in the front of the car, which makes the whole vehicle look more sporty and fashionable with streamlined body lines. In addition, Krypton 001 also adopts a hidden door handle and frameless door design, which further highlights the sense of technology and fashion of the vehicle. In the rear part, the Krypton 001 adopts a penetrating taillight and a two-way exhaust design, which makes the whole rear look more exquisite. On the whole, the design of Krypton 001 is excellent, full of futuristic and technological sense, and it is an electric vehicle that is worth looking forward to.

Extreme Krypton 001 is a larger model, with the length, width and height of 4977*1999*1533 mm, the wheelbase of 3005 mm, the front tread of 1703 mm and the rear tread of 1716 mm respectively. The car side lines of Krypton 001 are smooth, and the whole body presents a sense of movement and strength. The lines are smooth and full of tension. In terms of tires, the former tyre size was 255/55 R19, and the latter tyre size was also 255/55 R19. The rims of this model are fashionable and have a strong sense of design, which adds more sporty atmosphere to the whole car.

The interior design of Krypton 001 is full of modernity and technology, and it is made of luxurious leather, giving people a high-grade feeling. The central control screen has a size of 15.05 inches and supports voice recognition control system, including multimedia, navigation, telephone and air conditioning functions, so that drivers can easily control it. The steering wheel is made of leather, and the position can be adjusted up and down and back and forth electrically, which is very user-friendly. The front row and the back row are equipped with two USB/Type-C interfaces, which are convenient for passengers to charge, and also support the wireless charging function of mobile phones. The seat is made of leather, and the front and rear adjustment, backrest adjustment, height adjustment, leg rest adjustment and lumbar support can be carried out in the main and co-pilot positions to make the ride more comfortable. The front seats are also equipped with heating, ventilation and massage functions to provide a better ride experience. The rear seats can be laid down in proportion to increase storage space. In a word, the interior design of Krypton 001 is very humanized, providing a variety of practical functions and comfort.

The maximum power and torque of Krypton 001 engine are 580 kW and 810 N·m respectively. The engine performance of this model is strong, which can provide excellent driving experience for the owner. Its high power and torque output make the vehicle perform well in the process of acceleration and driving, and bring drivers a more flexible and smooth driving experience. At the same time, the high efficiency of this engine also provides strong support for the fuel economy of the vehicle, making it easier for drivers to enjoy driving. In a word, the engine performance of Krypton 001 is excellent and it is a car worth recommending.

In the communication with the owner of car home, we learned that he was full of praise for the appearance of Krypton 001. He said that the design of Krypton 001 is very personal, and the front part reminds him of luxury brands. At the same time, the streamlined body and unique lamp design of Krypton 001 also surprised him. The owner also specifically mentioned the interior design of Krypton 001, praising its simplicity and generosity, which made people feel very comfortable. Generally speaking, the owner of car home @ Yuanqi slowly gave a very high evaluation on the appearance and interior of the Krypton 001, which also made us more confident to recommend this model. If you also have high requirements for design, then Krypton 001 will definitely be your best choice.

In terms of power, the King Kong Gun (parameter picture) is equipped with a power combination of 2.0T+6MT, and the GW4C20B gasoline engine is mature and reliable, with a peak torque of 360N·m, and the high-power version of GW4D20M diesel engine has a peak torque of 400 N m. This mature power system has been tested by the market and has outstanding reliability.

A few days ago, another brand-new product based on the same platform of the Great Wall Gun, the fashionable commercial pickup truck King Kong Gun, was listed in Hebei Province.

King Kong cannon has two kinds of power, gasoline and diesel, and there are many different versions of two-wheel drive and four-wheel drive, with gasoline models starting at 88,800 yuan and diesel models starting at 95,800 yuan.

The above price is the standard box model price, and the long box model is added with 2000 yuan;

Entrepreneurial and elite models of long box models can be equipped with flat-bottomed containers, and on this basis, 2,000 yuan will be added;

Pilot limited optional package: including "LED headlights +360 panoramic image", with an optional price of 2000 yuan.

In addition, King Kong Gun also provides car buyers with five exclusive rights: financial gift, replacement gift, interconnection gift, recommendation gift and worry-free gift.

King Kong Gun adopts the design concept of "minimalist aesthetics", which is simple and tough as a whole, and offers five body colors: dream blue, worry-free white, bold horizontal black, enterprising gray and struggle brown.

For the interior, the high-definition LCD dual floating screen is matched with intelligent voice control, and the FOTA online upgrade function can upgrade some in-vehicle functions.

King Kong cannon has three kinds of containers: standard box, long box and flat bottom. The long box model has a 1.82-meter super-large container. The intimate design of low cargo platform and container lighting shows the profound insight of Great Wall Gun to pickup truck users. The turning diameter of 11.9 meters makes the King Kong gun more flexible in turning and turning around.

[technology circle]

Yu Chengdong: Huawei’s consumer business was renamed Huawei’s terminal business and entered the commercial field in an all-round way.

Yu Chengdong, managing director of Huawei, officially announced that Huawei’s consumer business was renamed as Huawei’s terminal business at the new product launch conference of Huawei’s terminal commercial office, and it has entered the commercial field in an all-round way. In the future, Huawei’s terminal business will comprehensively cover two modules: consumer products and commercial products. Consumer products will continue to focus on serving mass consumers, while commercial products will focus on serving government and corporate customers. (36Kr)

Huawei’s Bluetooth Key Patent Announced

Tianyancha App shows that recently, the patent of "a vehicle control method, vehicle-mounted device and mobile terminal" applied by Huawei Technologies Co., Ltd. was announced. According to the technical scheme of the application, the positioning accuracy of the car Bluetooth key can be improved, the user’s intention can be recognized, the vehicle can automatically execute the operation instructions such as unlocking and locking the door, the use convenience of the keyless entry and starting function of the vehicle can be improved, and the convenience and comfort experience of the user in using the vehicle can be improved.

Apple claims that nearly 20% of the materials used in its products in 2021 will be recycled materials.

Apple published an article in official website on April 19th, saying that it used certified recycled gold in its products for the first time and more than doubled the amount of recycled tungsten, rare earth elements and cobalt. Since 2015, Apple’s use of plastics in product packaging has been reduced by 75%. (Interface)

Internet

The second instance verdict of the case of "pretending to be an old godmother employee to defraud Tencent": the appeal was dismissed and the original judgment was upheld.

It is learned from relevant parties that the second instance of the case of three people posing as employees of Guiyang Nanming Laoganma Flavor Food Co., Ltd. and defrauding Shenzhen Tencent Computer System Co., Ltd. has been ruled by Guiyang Intermediate People’s Court: the appeal was rejected and the original judgment was upheld. On December 29, 2021, the Nanming District People’s Court of Guiyang made a first-instance judgment on this case. Three defendants were sentenced to 12 years’ imprisonment, 7 years’ imprisonment and 6 years’ imprisonment respectively, and were fined, and three people returned Tencent’s compensation of 4.31 million yuan. (澎湃)

The Ministry of Industry and Information Technology has notified 37 apps that infringe on users’ rights and interests, and everyone broadcasts live and I love my family.

The Ministry of Industry and Information Technology recently organized a third-party testing organization to check the mobile Internet application (APP). Up to now, there are still 37 apps that have not been rectified, including live broadcast for everyone and I love my family.

It is said that Musk launched an offer to buy Twitter in about 10 days.

On the 19th local time, foreign media quoted people familiar with the matter as saying that Musk planned to launch a tender offer directly to Twitter shareholders in about 10 days. If it is successful, Twitter shareholders can choose to sell their shares at the tender price. According to the report, in addition to the cost of purchasing a 9.2% stake in Twitter, Musk is willing to pay 10 billion to 15 billion US dollars in cash. In addition, he also seeks to raise $43 billion needed to privatize Twitter by introducing other investors and debt financing.

Blackstone, Vista and brookfield have ruled out the possibility of financing Musk’s acquisition of Twitter.

According to market sources, Blackstone Group, Vista and brookfield have ruled out the possibility of financing Musk’s acquisition of Twitter. (Sina Finance)

Instead of boycotting advertisements, Netflix is considering launching a cheaper subscription plan.

Wilmot Reed Hastings Jr., co-CEO of streaming video giant Netflix, said on Tuesday that Netflix is now "quite open" to offering lower-priced subscription plans supported by advertisements. Hastings has long opposed adding advertisements or other promotional activities to the platform, but he said in a pre-recorded earnings conference call on Tuesday that it was "very reasonable" to provide customers with cheaper options. (Phoenix Net Technology)

[Car ring]

Less than two months after delivery, Huawei AITO asked the M5 official to raise the price by 10,000 yuan.

On the 20th, the official of AITO Automobile Co., Ltd., which is a cooperation between Huawei and Celestial, released the announcement about the price adjustment of the M5&the listing instructions of the standard version of the M5 rear drive, to adjust the prices of some models of the M5. Among them, the starting price of the standard version of Wujie M5 rear drive was adjusted to 259,800 yuan, which was 10,000 yuan higher than the previously announced price. (Sina Finance)

LI’s delivery was postponed in April because some supply chain enterprises could not supply.

On the evening of April 20th, LI said in a notice issued by the APP that since the end of March, some supply chain enterprises located in Jiangsu, Zhejiang and Shanghai in LI have been unable to supply due to the requirements of epidemic prevention and control. Therefore, it had a great impact on the production in LI in April, which caused some users to delay the delivery of new cars.

Guoxuan Hi-Tech signed a strategic cooperation agreement with Geely Commercial Vehicle.

According to the official news of Guoxuan Hi-Tech, Hefei Guoxuan Hi-Tech Power Energy Co., Ltd., a wholly-owned subsidiary of Guoxuan Hi-Tech, recently signed a strategic cooperation agreement with Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. The two parties agreed that Hefei Guoxuan will supply power battery products to Geely commercial vehicles from 2022 to 2024, with an estimated total of 126,000 sets, including micro-surface, light truck and extended range.

Energy industry

It is reported that Contemporary Amperex Technology Co., Limited will release new power battery technology in the near future, but Contemporary Amperex Technology Co., Limited denies it.

Contemporary Amperex Technology Co., Limited denied that a new power battery technology would be released in the near future, and said it was a misunderstanding, so please don’t pass it on. Earlier, some media reported that Contemporary Amperex Technology Co., Limited related sources revealed that the company will prepare to release new power battery technology in the near future. (Sina Finance)

[Financial Street]

Everbright Securities: Received resignation reports from Yan Jun, chairman of the company, and Liu Jiping, chairman of the board of supervisors.

Everbright Securities announced that the board of directors received the resignation report of Yan Jun, the chairman of the company, on April 19th. Due to job adjustment, Yan Jun resigned as the chairman, director and convener of the Strategy and Development Committee of the Board of Directors. On the same day, the company’s board of supervisors received the resignation report of Liu Jiping, the company’s supervisor. Due to work adjustment, Liu Jiping resigned as the chairman of the board of supervisors, supervisor and member of the governance supervision committee of the board of supervisors. The company has noticed some media reports about other senior managers of the company. At present, other senior managers of the company have not changed, and the company’s operation and management are normal.

Bank of China Securities: Lin Jingzhen resigned as chairman of the company and elected Ning Min as chairman of the company.

Bank of China Securities announced that the board of directors recently received the resignation report submitted by Lin Jingzhen. Lin Jingzhen, Vice President of Bank of China, applied to resign as a director, chairman and director of the Strategy and Development Committee of the Board of Directors due to work arrangements. After his resignation, he will no longer hold any positions in the company. The board of directors elected Director Ning Min as the chairman of the second board of directors of the company.

Chairman of Bank of Nanjing: We will increase Suning’s capital stock in due course and do a good job of stability this year.

Bank of Nanjing held a performance briefing for 2021 and the first quarter of 2022. Hu Shengrong, Chairman of Bank of Nanjing, answered questions about the future layout of Bank of Nanjing’s consumer finance at the performance conference. Hu Shengrong said that the current acquisition of Suning Xiaojin still needs to wait for the approval of the regulatory authorities before realizing equity delivery. At the same time, after the delivery, Bank of Nanjing will study how to increase the share capital of Suning, and at the same time make a series of arrangements in terms of business model, business development planning and internal organization. The main task of Suning’s gold elimination this year is to "stabilize", do a good job in basic work, and achieve greater development next year. (澎湃)

The largest public pension fund in the United States: supporting the removal of Buffett as chairman of Berkshire Hathaway.

According to reports, Calpers, the largest state public pension fund in the United States, disclosed on April 19th that it intends to vote for Berkshire Hathaway’s shareholder proposal to replace Warren Buffett’s position as chairman. Before Berkshire Hathaway held its annual general meeting on April 30th, the California Civil Servant Retirement Fund disclosed its position in the announcement submitted to the US Securities and Exchange Commission. (Interface)

[real estate circle]

Evergrande plans to restart large-scale marketing, and the "May 1 Golden Week" 2000 existing home promotion scheme flows out.

According to market information, Evergrande internally issued the Notice on Issuing Ten Key Marketing Measures and Special Assessment during the Golden Week, requiring that the "May 1 Golden Week Grand Discount" and "Existing Home Grand Discount" be packaged. During the Golden Week, 2,000 existing houses will be launched, and the time range is from April 20th to May 5th, 2022. The notice was confirmed by relevant insiders of Evergrande.

Sunac Real Estate Group was forced to execute more than 38 million yuan.

According to the information disclosure website of China, on April 19th, Sunac Real Estate Group Co., Ltd. added a piece of information about the person to be executed, with an execution target of 38.51 million yuan, and the enforcement court was the Chaoyang District People’s Court. Sunac Real Estate Group Co., Ltd. was established in January 2003, with the legal representative Wang Mengde and the registered capital of 15 billion RMB, which is wholly owned by Beijing Sunac Holding Group Co., Ltd. (Interface)

[medical circle]

Netcom Kexing executives died, and the company responded: It is true.

Recently, an obituary about the death of Kexing executives was circulated on the Internet. The obituary shows that Cao Xiaobin, senior manager of the Government Affairs Center of Beijing Kexing Biological Products Co., Ltd., died on April 17, 2022 at the age of 45, and was signed by Comrade Cao Xiaobin funeral committee. Kexing confirmed that the news of Cao Xiaobin’s death was true. (Zhongxin Jingwei)

Aviation industry

“3• The preliminary report on the investigation of the flight accident of 21 "China Eastern Airlines MU5735 aircraft was released.

After investigation, the qualifications of flight crew, cabin crew and maintenance release personnel on duty meet the requirements; The airworthiness certificate of the accident aircraft is valid, the latest A inspection (31A) and the latest C inspection (3C) of the aircraft have not exceeded the inspection time limit specified in the maintenance plan, and there is no fault report and no fault reservation before the flight and short parking on the same day; There are no goods declared as dangerous goods on board; The navigation and monitoring facilities and equipment along the route involved in this flight are not abnormal, and there is no dangerous weather forecast; Before deviating from the cruising altitude, there was no abnormality in the radio communication and control command between the crew and the air traffic control department, and the last normal land-air call was at 14: 16; The two recorders on board were seriously damaged due to the impact, and the data repair and analysis work is still in progress.

More exciting content, all in the first financial APP.

　　　　　　 CCTV News:On May 11, 2020, Foreign Ministry Spokesperson Zhao Lijian held a regular press conference.

　　　　　　 AFP reporter: Two China coast guard vessels expelled a Japanese fishing boat from the Diaoyu Islands last week, and the Japanese side has made representations to the Chinese side. What’s your comment on this? Has China explained or apologized to Japan?

　　　　　　 Zhao Lijian: It is understood that the China Marine Police recently found a Japanese fishing boat illegally operating in the territorial waters of China during a routine cruise in the Diaoyu Islands. China Marine Police carried out tracking and monitoring according to law, demanding that it immediately stop relevant activities and withdraw from relevant sea areas, and resolutely responded to the illegal interference of Japanese Marine Insurance Agency vessels at the scene. China has made solemn representations to the Japanese side through diplomatic channels, urging the Japanese side to immediately stop the infringement.

　　　　　　 I want to emphasize that Diaoyu Island and its affiliated islands are China’s inherent territory, and it is China’s inherent right to carry out cruise enforcement in the Diaoyu Islands. We demand that Japan abide by the spirit of the four-point principle consensus, avoid creating new troubles on the Diaoyu Islands issue, and take practical actions to maintain the stability of the East China Sea.

　　　　　　 Kyodo News: As far as I know, it is very rare for China to take direct action against Japanese fishing boats. It seems that China is unilaterally stepping up its activities in the Diaoyu Islands. What direction does China think China-Japan relations should develop?

　　　　　　 Zhao Lijian: Just now I have clearly stated China’s position. China demands that Japan abide by the spirit of the four-point principle consensus, avoid creating new troubles on the Diaoyu Islands issue, and take practical actions to maintain the stability of the East China Sea.

　　　　　　 At present, China and Japan should concentrate on fighting the epidemic and further develop friendly and cooperative relations between the two countries.

According to a report by China Taiwan Province Network today (28th), the Taiwan Province Affairs Office of the State Council held a regular press conference in the press room of the Taiwan Affairs Office at 10: 00 this morning, which was presided over by Ma Xiaoguang, director and spokesperson of the Information Bureau of the Taiwan Affairs Office. Ma Xiaoguang is talking about Taiwan today.baysquareWhile refusing to accept the "1992 Consensus" and repeatedly saying that cross-strait exchanges should not presuppose, he said that the "1992 Consensus" and the one-China principle it embodies are objective facts that conform to the jurisprudence and reality of cross-strait relations, and are not artificial preconditions.The key to the so-called no preconditions is not to admit that both sides of the strait belong to the same China, that is, not to give up the position of "two States" and "one country on each side".

With regard to Taiwan Province’s upcoming "October 10th Speech", Tsai Ing-Wen may not be able to hand in a qualified answer. Ma Guang Xiao, spokesman of the Taiwan Affairs Office, said that the key to maintaining the peaceful development of cross-strait relations lies in adhering to the political foundation of the "1992 Consensus".No matter what the leaders of the Taiwan Province authorities say, this hurdle cannot be bypassed.

In view of the fact that Xie Xuehong, the founder of the Taiwan Communist Party and the founder of the Taiwan Alliance, was packaged as a pioneer of Taiwan independence by some "Taiwan independence" on the island and set up a monument, Ma Xiaoguang said,Ms. Xie Xuehong is also a members of the Communist Party of China (CPC). Her spirit of fighting against Japanese colonial rule and realizing the reunification of the motherland is indelible and cannot be distorted. The "Taiwan independence" forces tried to make political articles and mislead the people of Taiwan Province, only to expose their distorted mentality and clumsy tactics.

The mainland released the reform dividend, and the development of Taiwanese enterprises in the mainland showed a steady trend.

Ma Guang Xiao, spokesman of the Taiwan Affairs Office of the State Council, said today that at present, the production and operation of Taiwan-funded enterprises in the mainland are generally stable. According to the statistics of the Ministry of Commerce, in the first eight months of this year, there were 2,392 new Taiwan-funded projects in the mainland (excluding the third transfer), up 23.93% year-on-year; The actual use of Taiwan capital was US$ 1.491 billion, up 33.09% year-on-year. At present, the mainland is implementing the "Thirteenth Five-Year Plan", deepening the construction of the "Belt and Road", promoting the coordinated development of Beijing-Tianjin-Hebei, the Yangtze River Economic Belt, the large-scale development of the western region, and revitalizing the old industrial bases in Northeast China. It is hoped that the transformation and upgrading of Taiwanese enterprises will be in line with these strategies and achieve greater development.

As long as we have a correct understanding of cross-strait relations, we all take a positive attitude.

Ma Xiaoguang, spokesperson of the Taiwan Affairs Office of the State Council, told the visiting delegation of Taiwan’s counties and cities a few days ago that our determination and sincerity in promoting cross-strait exchanges and cooperation in various fields and seeking for the well-being of compatriots on both sides of the strait will not change. It is understood that eight counties and cities in Taiwan Province and relevant parties in the mainland are planning to hold agricultural special products fairs and tourism promotion conferences in eight counties and cities in Taiwan Province in the mainland this year. Relevant enterprises in mainland China are also planning to visit eight counties and cities and negotiate the procurement of agricultural products. He also stressed that as long as we have a correct understanding of the nature of cross-strait relations and county-city exchanges and are willing to contribute to enhancing the well-being and affection of compatriots on both sides of the strait, we all have a positive attitude.

Democratic Progressive Party’s 30-year-old radical or flexible "Taiwan independence" is doomed to failure

When talking about the 30th anniversary of the founding of Democratic Progressive Party, Ma Guang Xiao, spokesman of the Taiwan Affairs Office of the State Council, said today that Democratic Progressive Party’s long-term adherence to the "Taiwan independence" party platform and the "Taiwan independence" separatist proposition of "one country on each side" undermined the political foundation for the peaceful development of cross-strait relations, incited cross-strait confrontation and obstructed cross-strait exchanges, which seriously impacted and affected the good momentum and achievements of the peaceful development of cross-strait relations since 2008 and damaged the vital interests of Taiwan Province compatriots. It can be said that if Democratic Progressive Party does not give up the "Taiwan independence", it will be difficult to find a way out in cross-strait relations. Whether it is a radical "Taiwan independence" or a so-called gradual and flexible "Taiwan independence", it is doomed to failure.

Lee Teng-hui’s clamor for so-called "constitutional reform" can only be a dream.

When talking about Lee Teng-hui’s recent clamor to promote the so-called "constitutional reform", Ma Xiaoguang said today that there is a fashionable political term in Taiwan Province called "people who pretend to sleep can’t wake up". I think Lee Teng-hui is the one who can’t wake up from the dream of "Taiwan independence". However, the development trend of the world and the development trend of the two sides of the strait are doomed to be a dream. What’s important is that compatriots on both sides of the strait may not forget that during Chen Shui-bian’s administration, he frantically tried to change Taiwan Province’s status as a part of China by means of "constitutional reform" and "referendum" and suffered a shameful failure. If someone still wants to inherit the mantle of Lee Teng-hui and Chen Shui-bian, I don’t think the end will be good, and everyone can foresee it.

Taiwan Province should not mislead the public with the so-called flight safety as an excuse.

In response to Taiwan Province’s claim that seeking to participate in the International Civil Aviation Congress is based on its responsibility for the safety of international air navigation, Ma Xiaoguang said that Taiwan Province should deeply reflect on its failure to participate in the 39th ICAO Congress, instead of making accusations against the mainland and misleading public opinion. The mainland has always attached importance to the needs of Taiwan Province compatriots in the field of civil aviation, and will continue to provide relevant information to Taiwan Province. Taiwan Province’s aviation safety has nothing to do with Taiwan Province’s participation in international civil aviation conferences.

Taiwan authorities should not be led by the "extremely independent" forces.

Ma Xiaoguang, spokesman of the Taiwan Affairs Office of the State Council, responded to the claim of the "United Taiwan Party" that it would not rule out sending a letter inviting Lai Lama or Rebiya to counter the mainland: It is not surprising that inviting figures like Dalai Lama and Rebiya to Taiwan Province may have an impact and harm on cross-strait relations. The key is that Taiwan Province’s rulers should not misjudge the situation and be led by "ultra-independence" forces.

Green camp said that the eight mayors who landed in the county were "blue eight slaves" selling Taiwan. Ma Xiaoguang: the Qing Dynasty cleared itself.

Mayors of eight counties in Taiwan Province made achievements when they landed, and they were called "Blue Eight Slaves" by green camp citizens to sell Taiwan. Ma Guang Xiao, spokesman of the Taiwan Affairs Office of the State Council, said that those who are clear are clear and those who are turbid are turbid. Those acts of throwing dirty water at others certainly reflect the political nature of these politicians, but they still can’t solve the vital interests of Taiwan Province people.

The individual remarks of individual politicians in the United States do not represent the attitude of the US government.

Ma Xiaoguang, spokesman of the Taiwan Affairs Office of the State Council, responded to the US Congressman’s claim that he should join ICAO for the sake of Taiwan Province’s flying safety: The US government adheres to the one-China policy and has made commitments on bilateral occasions and major international occasions many times. As for the individual remarks of individual politicians in the United States, they do not represent the attitude of the US government.

"Taiwan independence" exposes a distorted mentality: the founders of the packaging Taiwan Communist Party and the Taiwan Alliance are the pioneers of "Taiwan independence"

In view of the fact that Xie Xuehong, the founder of the Taiwan Communist Party and the founder of the Taiwan Alliance, was packaged as a pioneer of Taiwan independence by some "Taiwan independence" on the island and a monument was erected, Ma Guang Xiao, spokesman of the Taiwan Affairs Office, said today that Ms. Xie Xuehong is also members of the Communist Party of China (CPC), and her spirit of fighting against Japanese colonial rule and realizing the reunification of the motherland is indelible and cannot be distorted. The "Taiwan independence" forces tried to make political articles and mislead the people of Taiwan Province, only to expose their distorted mentality and clumsy tactics.

"Taiwan independence" organization set up a monument for Xie Xuehong and tried to package it as "Taiwan independence Pioneer"　　

It is the key to correctly understand cross-strait relations if blue-green counties and cities reshuffle.

Ma Guang Xiao, spokesman of the Taiwan Affairs Office of the State Council, said today that Taiwan Province will also face a county and mayor election in 2018. If the blue and green counties and cities are reshuffled, and whether the eight measures taken by the mainland to promote exchanges with eight counties and cities in Taiwan Province will be adjusted, he said that the key to cross-strait county-city exchanges is to have a correct understanding of the nature of cross-strait relations and county-city exchanges, which will help the development of interaction, exchanges and cooperation between the two sides.

In addition, there are constant protests on the island, calling for work, survival and the "1992 Consensus". Ma Xiaoguang, a spokesperson for the Affairs Office of the State Council, said that in a word, these ordinary people in Taiwan Province, people from all walks of life, took to the streets to express their feelings and dissatisfaction, and they were actually voting on the cross-strait policies of the Taiwan Province authorities with their feet.

The following is the full text of the conference (from Hong Kong China Rating Society)

Ma Xiaoguang: Hello, everyone, the press conference will begin now. Now please ask questions.

Xinhua News Agency: Since May 20th this year, Taiwan Province has refused to accept the "1992 Consensus" on the one hand, and repeatedly said that cross-strait exchanges should not presuppose. What is your comment?

Ma Xiaoguang: The "1992 Consensus" and the one-China principle it embodies are objective facts that conform to the jurisprudence and reality of cross-strait relations, and are not artificial preconditions. This consensus was reached by both sides of the strait through communication and consultation, seeking common ground while reserving differences, and was not unilaterally imposed on Taiwan Province by us. When dealing with each other, we must first make clear the nature of their relationship. The key to the so-called no preconditions is not to admit that both sides of the strait belong to the same China, that is, not to give up the position of "two States" and "one country on each side". The Democratic Progressive Party authorities unilaterally undermine the common political foundation of the two sides of the strait, in fact, they impose their denial of consensus on the mainland, which is the prerequisite for cross-strait exchanges and interactions.

Reporter from Hong Kong China Rating Society: A few days ago, a visiting delegation from Taiwan’s counties and cities visited China. The mainland will take eight measures to promote exchanges and cooperation with these eight counties and cities. How will the spokesman implement these measures in the future? In addition, does this mean that the mainland will adopt a different policy towards Taiwan Province’s blue-green camp? Thank you.

Ma Xiaoguang: Not long ago, a delegation of mayors from some counties in Taiwan Province came to the mainland and said that they would continue to support the "1992 Consensus". We responded positively and put forward eight measures to further promote the relevant departments and cities in the mainland to strengthen exchanges and cooperation with these eight counties and cities. Our determination and sincerity to promote cross-strait exchanges and cooperation in various fields and to benefit compatriots on both sides of the strait will not change. As long as we have a correct understanding of the nature of cross-strait relations and county-city exchanges and are willing to contribute to enhancing the well-being and affection of compatriots on both sides of the strait, we all have a positive attitude.

It is understood that eight counties and cities in Taiwan Province and relevant parties in the mainland are planning to hold agricultural special products fairs and tourism promotion conferences in eight counties and cities in Taiwan Province in the mainland this year. Relevant enterprises in mainland China are also planning to visit eight counties and cities and negotiate the procurement of agricultural products.

CCTV reporter: On October 10th, Tsai Ing-Wen will also deliver a "Double Ten Speech". We noticed that some media analyzed that Tsai Ing-Wen could not hand in a qualified answer sheet on cross-strait relations in this speech. How did the spokesman respond to this? Thank you.

Ma Xiaoguang: Since May 20th this year, the good momentum and achievements of the peaceful development of cross-Straits relations, which lasted for eight years, have been seriously impacted, and the vital interests of Taiwan Province people have been harmed. We all know the crux of this situation and the responsibility.

The practice of both positive and negative aspects of cross-strait relations proves that different road choices determine different prospects. The key to maintaining the peaceful development of cross-strait relations lies in adhering to the political foundation of the "1992 Consensus". No matter what the leaders of the Taiwan Province authorities say, this hurdle cannot be bypassed.

I have said many times that our major policy toward Taiwan is clear and consistent. We will continue to adhere to the political foundation of the "1992 Consensus", resolutely oppose the "Taiwan independence" and firmly safeguard the one-China principle. We will further expand exchanges between compatriots on both sides of the strait, promote exchanges and cooperation in various fields, and build a cross-strait community of destiny. We believe that no force can stop the peaceful development of cross-strait relations and the historical process of the great rejuvenation of the Chinese nation.

Reporter from Xiamen Satellite TV, Fujian: Recently, Taiwan Province and the southeast coastal areas of the mainland have been frequently ravaged by typhoons. May I ask the spokesman whether the two sides can strengthen relevant cooperation in disaster reduction and prevention to cope with the bad weather of typhoons and other disasters? Thank you.

Ma Xiaoguang: Recently, several destructive typhoons have successively affected some areas on both sides of the strait, causing heavy losses to people’s lives and property on both sides of the strait. We have been paying close attention to this, and I would like to take this opportunity to express my sincere condolences to the affected compatriots. It is understood that during the typhoon "Nibert" and "Moranti" affected Taiwan Province and mainland China this year, meteorological professionals on both sides of the strait communicated and exchanged in real time through the instant messaging software system. We actively support everything that is conducive to compatriots on both sides of the strait to jointly do a good job in meteorological disaster prevention and mitigation and to enhance the well-being of people’s livelihood on both sides of the strait.

Taiwan Province TVBS TV reporter: Three "legislators" in Democratic Progressive Party have been unable to get Hong Kong visas one after another. Some of them went to the Hong Kong Forum, and some went to Hong Kong to take refuge after a typhoon entered the country, but they failed to get Hong Kong visas. The "Green Committee" thinks that everything is green. How does the spokesman comment on this?

Ma Xiaoguang: This is an internal affair of the Hong Kong Special Administrative Region. We respect the Hong Kong SAR Government’s handling of the entry and exit of overseas personnel in accordance with the Basic Law. Thank you.

Fujian straits herald reporter: what is the overall situation of Taiwan-funded enterprises investing and operating in the mainland at present? What are the opportunities for the transformation and upgrading of Taiwan-funded enterprises under the new situation of the implementation of the 13 th Five-Year Plan in the mainland? Thank you.

Ma Xiaoguang: At present, the production and operation of Taiwan-funded enterprises in the mainland are generally stable. With the continuous release of reform dividends and market space in the mainland, the development of Taiwanese businessmen in the mainland has generally shown a trend of structural transformation, technological upgrading and capital increase and share expansion. Taiwanese investment in the mainland continues to grow.

According to the statistics of the Ministry of Commerce, in the first eight months of this year, there were 2,392 new Taiwan-funded projects in the mainland (excluding the third transfer), up 23.93% year-on-year; The actual use of Taiwan capital was US$ 1.491 billion, up 33.09% year-on-year.

At present, the mainland is implementing the "Thirteenth Five-Year Plan", deepening the construction of the "Belt and Road", promoting the coordinated development of Beijing-Tianjin-Hebei, the Yangtze River Economic Belt, the large-scale development of the western region, and revitalizing the old industrial bases in Northeast China. It is hoped that the transformation and upgrading of Taiwanese enterprises will be in line with these strategies and achieve greater development.

Taiwan Province Zhongtian TV reporter asked: Chen Deming, president of ARATS, said in an exclusive interview with Lianhe Zaobao that there was no difference in treatment between blue and green ruling counties and cities, but this time it was true that the Taiwan Affairs Office of the State Council released more benefits to the eight counties and cities of Lanying. Does Taiwan Province think there is a gap between these? Is there a difference in treatment without customs clearance code? Thank you.

Ma Xiaoguang: You may have noticed that President Yu Zhengsheng made it clear in his talks with mayors of eight counties that our determination and sincerity to promote cross-strait exchanges and cooperation in various fields and to benefit compatriots on both sides of the strait will not change. As long as we have a correct understanding of cross-strait relations and the nature of cross-strait county-city exchanges, of course, we all have a positive attitude.

International TV reporter: Taiwan Province claims that it seeks to participate in the international civil aviation conference because of its responsibility for the safety of international air navigation. What is the spokesman’s comment on this? Thank you.

Ma Xiaoguang: On the question that Taiwan Province was not invited to participate in the 39th ICAO Assembly, I think Taiwan Province should deeply reflect on why it was able to participate three years ago, but not this year, instead of making accusations against the mainland and misleading public opinion, and even using the so-called flight safety in Taiwan Province as an excuse to mislead the people of Taiwan Province. Here, I solemnly express that the mainland has always attached importance to the needs of Taiwan Province compatriots in the field of civil aviation, and will continue to provide relevant information to Taiwan Province. It can be said that Taiwan Province’s access to ICAO standards, recommended measures and related information is smooth, and the information is complete and comprehensive. Taiwan Province enjoys convenient navigation with many cities in the world. Facts have proved that Taiwan Province’s aviation safety has nothing to do with whether Taiwan Province participates in the International Civil Aviation Congress or not.

China Taiwan Province Network reporter: Ma Ying-jeou, the former leader of Taiwan Province, said in a lecture at Soochow University a few days ago that the Diaoyu Islands and the South China Sea Islands belong to China’s inherent territory, and the Japanese side’s claim is stealing. When talking about cross-strait relations, Ma Ying-jeou said that no matter how cross-strait relations are handled, they should not fight. He said that peace is the highest value and can really bring prosperity. How does the spokesman comment on this statement? Thank you.

Ma Xiaoguang: Because Mr. Ma is no longer in public office, according to reason, we don’t comment on the speeches of individual Taiwan Province people. However, he mentioned two points in his speech, which we should understand: First, on the sovereignty of Diaoyu Island and South China Sea, we hope compatriots on both sides of the strait will jointly safeguard the inheritance left by our ancestors. Second, we hope for peace in the Taiwan Strait and the peaceful development of cross-strait relations. To this end, we have found such a path since 2008, and its foundation is to adhere to the "1992 Consensus". If we continue along this road, the new Taiwan Province administration must give a clear answer to the common political foundation of the two sides.

Fujian Strait Satellite TV reporter: Democratic Progressive Party is celebrating the 30th anniversary of the founding of the Party. How do you evaluate the history of this party in the past 30 years from the perspective of the mainland, and what expectations do you have for its future? Thank you.

Ma Xiaoguang: It seems that this activity has been postponed. As we all know, Democratic Progressive Party has long adhered to the "Taiwan independence" party platform and the "Taiwan independence" separatist proposition of "one country on each side", undermining the political foundation for the peaceful development of cross-strait relations, inciting cross-strait confrontation and obstructing cross-strait exchanges, which has seriously impacted and affected the good momentum and achievements of the peaceful development of cross-strait relations since 2008 and harmed the vital interests of Taiwan Province compatriots. It can be said that if Democratic Progressive Party does not give up the "Taiwan independence", it will be difficult to find a way out in cross-strait relations. Whether it is a radical "Taiwan independence" or a so-called gradual and flexible "Taiwan independence", it is doomed to failure.

Taiwan Province Wangbao asked: I would like to ask about the visit to 8 counties and cities in Pan-Blue again. We know that Taiwan Province will also face a county mayor election in 2018. If the blue-green counties and cities are reshuffled, will there be some adjustments to these eight policies? The second question is that some media reported that the "Beijing-Taiwan Science and Technology Forum" will be held in Beijing in the middle and late October. What is the current preparation? If representatives of Taiwan Province are invited, will economic and trade officials still be invited to lock in these pan-blue county mayors? The third question, in the National Palace Museum in Taipei, it was recently decided to remove the 12 copies of animal heads given by Jackie Chan. What is the comment of the Taiwan Affairs Office?

Ma Xiaoguang: First, the key to cross-strait county-city exchanges is to have a correct understanding of the nature of cross-strait relations and county-city exchanges. I think this will help the two sides to interact, exchange and cooperate. As for the "Beijing-Taiwan Science and Technology Forum", as far as I know, it is a regular event held every year, which is specifically organized by Beijing. At present, the preparatory work is under way, and I don’t know the relevant details. I will let you know if there is further information.

Regarding the third question, you have noticed that Mr Jackie Chan has made a public response, saying that their donation conveys an attitude of "respecting civilization and protecting culture". Whether the National Palace Museum in Taipei respects this attitude or has other purposes, I think everyone has their own public comment.

Global Network reporter: Now we have noticed that Taiwan Province’s "United Taiwan Party" recently said that Tsai Ing-Wen authorities should take countermeasures against failing to get an invitation letter from the International Civil Aviation Conference, and they even suggested that the Taiwan authorities should invite people like the Dalai Lama or Rebiya to visit Taiwan, without excluding the invitation from the "United Taiwan Party". What is the spokesman’s comment on this? In addition, we have also noticed that some members of the US Congress sent a letter to congratulate the so-called 105th "Taiwan Province National Day". The statement even claimed that Taiwan Province should participate in ICAO because of its flying safety needs. How do you comment on this?

Ma Xiaoguang: The first question is about the possible impact and harm to cross-strait relations caused by inviting people like Dalai and Rebiya to Taiwan Province. Everyone knows the specific political stance and nature of the "United Taiwan Party". It is not surprising that they make such wild remarks. The key is that the Taiwan Province rulers should not misjudge the situation and be led by the "ultra-independence" forces.

Second, the U.S. government adheres to the one-China policy, and has made many commitments on bilateral occasions and major international occasions. As for the individual remarks of individual politicians in the United States, they do not represent the attitude of the U.S. government.

Fujian Southeast Satellite TV reporter: The landing of mayors of eight counties in Taiwan Province has achieved fruitful results. Some people in green camp alleged that the mayors of these counties were "blue slaves" selling Taiwan. What is the spokesman’s comment? Thank you.

Ma Xiaoguang: The eight visiting county mayors have refuted and clarified. I think, the clear is self-clear, and the turbid is self-turbid. Those acts of throwing dirty water at others certainly reflect the political nature of these politicians, but they still can’t solve the vital interests of Taiwan Province people.

Hong Kong Phoenix TV reporter: I would like to ask Taiwan Province to attend the International Civil Aviation Conference. Some commentators said that if Taiwan Province insists on not recognizing the "1992 Consensus", it will affect Taiwan Province’s space to participate in international affairs. How do you comment on this? Thank you.

Ma Xiaoguang: Undoubtedly, the "1992 Consensus" is not only an important political basis for the peaceful development of cross-strait relations, but also an important basis for the two sides to build mutual trust and carry out benign interaction. Without this foundation, the mutual trust between the two sides and the achievements in all aspects of the peaceful development of cross-strait relations will inevitably be affected.

Xinhua News Agency: Lee Teng-hui, the former leader of the Taiwan Province authorities, recently clamored for the so-called "constitutional reform" and clamored for the normalization of Taiwan Province. What is the spokesman’s comment on this?

Ma Xiaoguang: Now there is a fashionable political term in Taiwan Province called "People who pretend to sleep can’t wake up". I think Lee Teng-hui is the one who can’t wake up from the dream of "Taiwan independence". However, the development trend of the world and the development trend of the two sides of the strait are doomed to be a dream. If I have to respond, I’ll quote a poem by Du Fu, a poet in the Tang Dynasty: "Ercao’s body is destroyed in name, and he won’t waste the rivers and rivers." Of course, it is important that compatriots on both sides of the strait may not forget that during Chen Shui-bian’s administration, he frantically tried to change Taiwan Province’s status as a part of China by means of "constitutional reform" and "referendum" and suffered a shameful failure. If someone still wants to inherit the mantle of Lee Teng-hui and Chen Shui-bian, I don’t think the end will be good, and everyone can foresee it.

Fujian Strait Satellite TV reporter: Recently, Xie Xuehong, the founder of the Taiwan Communist Party and the founder of the Taiwan Alliance, was packaged by some "Taiwan independence" organizations on the island as a pioneer of "Taiwan independence" and also set up a monument. How did the spokesman comment on this? Thank you.

Ma Xiaoguang: As you may know, Ms. Xie Xuehong is also a members of the Communist Party of China (CPC). Her spirit of fighting against Japanese colonial rule and realizing the reunification of the motherland is indelible and cannot be distorted. The "Taiwan independence" forces tried to make political articles and mislead the people of Taiwan Province, only to expose their distorted mentality and clumsy tactics.

Guangdong Shenzhen Satellite TV reporter: I have three questions. First, can Taiwan Province attend the APEC meeting in Peru in November this year? Is it possible to participate only if the Taiwan Province authorities respond positively to the "1992 Consensus"? Second, the Taiwan Province authorities have improperly frozen the Kuomintang’s party property by the Party Property Processing Committee, and the Kuomintang’s fund mobilization is facing a break. What is the spokesman’s comment on the current predicament faced by the Kuomintang? Third, regarding the KMT-CPC Forum, do you have any information that the spokesman can introduce? Thank you.

Ma Xiaoguang: I talked about these three issues at the last press conference. First, people from Taiwan Province should attend APEC-related activities in accordance with the relevant provisions of the APEC Memorandum of Understanding. Second, we have noticed that there are many comments on the island, and we will continue to pay attention to the development of the situation. Third, regarding the operation of the platform between the Kuomintang and the Communist Party, the two sides are in contact and communication, and we will release the exact news in time.

CCTV reporters on both sides of the Taiwan Straits: We have seen that protests have been going on on Taiwan Province Island since September, and many people in Taiwan Province have also taken to the streets to express their dissatisfaction with the ruling authorities. For example, the tourism industry has directly shouted out that they want the "1992 Consensus", that they want to work and survive. Can this be understood as public pressure on the Taiwan Province authorities? What does the spokesman think of the current situation on the island? Thank you.

Ma Xiaoguang: I think, in a word, these ordinary people in Taiwan Province, people from all walks of life who care about their livelihood, have taken to the streets to express their feelings and dissatisfaction. They are actually voting on the cross-strait policies of the Taiwan Province authorities with their feet.

This is the end of the press conference. Thank you for coming.

(Observer Network Comprehensive China Taiwan Province Network, China Review Society Report)

Text | BT Financial Data Pass, Author | Three Crazy

Cathay Pacific has been controversial because of its attitude towards non-English-speaking passengers, but this does not affect its ultra-high profit margin.

In May 2023, Cathay Pacific was pushed to the forefront because of the blanket incident. Some passengers accused the flight attendants of showing obvious discrimination when providing blankets to non-English passengers. This incident quickly sparked heated discussion on social media.

In fact, this is not the first time that Cathay Pacific has attracted public attention because of discrimination. In the past few years, similar incidents have been common, and every time they have caused widespread discussion and criticism in society. However, Cathay Pacific does not seem to have learned from these incidents, and its service attitude has not been fundamentally solved.

Looking back at the long river of history, the development history of Cathay Pacific is accompanied by glory and shadow.

Since its birth in 1946, Cathay Pacific has carried the dream of Hong Kong’s take-off. At that time, Hong Kong was in the midst of a booming economy, and the founders of Cathay Pacific, Dragonair and Singapore Airlines were ambitious and determined to write their own legends in this hot land. They bravely embarked on the journey with a small plane and several short-haul routes.

However, the road to entrepreneurship is not smooth sailing. Cathay Pacific opened international routes and bought new aircraft during the expansion period, but its management means and technical level are still immature. Facing the competition of international aviation giants, Cathay Pacific strives for a breakthrough, but it also has to face various internal contradictions and challenges.

Entering the period of internationalization, Cathay Pacific ushered in a golden period of development. The opening of international routes such as new york, London and Sydney, as well as the cooperation with many international airlines, have made Cathay Pacific gradually emerge. However, just when Cathay Pacific seemed to have unlimited scenery, the shadow came quietly. The decline in service quality and frequent management loopholes have dealt an unprecedented blow to Cathay Pacific’s reputation.

During the merger period, Cathay Pacific tried to make up for its own shortcomings through acquisition and cooperation. The acquisition of Dragonair has undoubtedly injected new vitality into Cathay Pacific, but it has also brought many integration problems. At the same time, the cooperation and alliance with other airlines are not smooth sailing, and problems such as interest disputes and cultural differences have put Cathay Pacific into a situation of internal and external troubles.

In the period of modernization and transformation, Cathay Pacific tried to revive itself through digital transformation and the introduction of new aircraft models and technical means. However, in the face of intensified market competition and changes in customer demand, Cathay Pacific’s road to transformation seems to be difficult. Although innovative measures such as SkyTeam membership plan have been launched, it still needs to be improved in terms of service quality and operational efficiency.

In addition to service disputes, Cathay Pacific’s financial situation is also worrying. The performance of losing money for three consecutive years makes investors feel pessimistic about the company’s prospects. The latest financial report shows that despite the company’s efforts in some aspects, revenue and net profit have been greatly improved, but the overall financial situation has not improved significantly.

After the recent relatively bright financial report was released, Cathay Pacific’s share price fell instead of rising. According to statistics, the stock price fell by 3.27% in the trading day after the financial report was released, which reflected the market’s concern about the company’s future performance. As of the close of March 14th, Cathay Pacific’s share price was HK$ 8.870 per share, which was 40% lower than the high of HK$ 14.672.

Cathay Pacific released its financial report for 2023 on March 13th, and its performance showed a positive trend of turning losses into profits. On the whole, after experiencing the losses in 2022, the company achieved a significant recovery in performance through efforts.

From the overall performance overview, in 2023, Cathay Pacific’s performance income reached 94.485 billion Hong Kong dollars, compared with the loss of 6.623 billion Hong Kong dollars in the same period in 2022, achieving a significant increase in net profit of 9.789 billion Hong Kong dollars. This achievement is mainly due to the strong recovery of passenger transport business.

What is optimistic is that Cathay Pacific’s passenger transport business has grown substantially. In terms of passenger transport, Cathay Pacific’s passenger transport revenue is HK$ 55.951 billion, an astonishing increase of 308.8% compared with 2022. In 2023, the company transported 18 million passengers, with an average daily passenger capacity of 49,300 passengers, an increase of 541.4% compared with 2022. This growth reflects the strong recovery of the aviation market and Cathay Pacific’s efforts in passenger service.

The recovery in North Asia has been remarkable. From the perspective of Cathay Pacific’s global passenger transport business, the data of all regions have shown an increasing trend. It is particularly noteworthy that the recovery of North Asia, which is dominated by the mainland of China, is more remarkable. The financial report shows that in North Asia, the company’s carrying capacity increased by 534.7% year-on-year, and the passenger carrying rate also increased by 23.6 percentage points, reaching 78.4%. This growth rate ranks first in all regions, showing the importance of the North Asian market to Cathay Pacific and the company’s strong competitiveness in the region.

In addition to North Asia, Cathay Pacific’s performance in other regions can not be ignored. In South Asia, Middle East and Africa, the company’s carrying capacity increased by 467.7% year-on-year, and the passenger carrying rate also increased by 15.9 percentage points. In Southeast Asia, the carrying capacity increased by 456.6% year-on-year, and the passenger carrying rate increased by 17.7 percentage points. These data show the company’s business recovery and growth momentum on a global scale.

As we all know, the gross profit margin of Maotai is the ceiling of many industries.The gross profit margin can be higher than that of Maotai, and Cathay Pacific is one of the few.

Cathay Pacific’s gross profit margin in 2023 was as high as 91.85%, which even exceeded the gross profit margin of 91.71% of Kweichow Moutai in the same period. In general, gross profit margin is regarded as an important indicator of enterprise profitability and operating efficiency. Cathay Pacific’s gross profit margin is higher than Maotai’s, which explains its high profit margin in aviation business to some extent.

However, when we further observe Cathay Pacific’s net interest rate, we find that its net interest rate is only 10.36%, far lower than that of Kweichow Moutai’s 53.09%. This phenomenon of high gross profit margin and low net interest rate actually reveals a series of challenges Cathay Pacific faces in its operation.

First of all, labor cost is one of the important expenses in airline operation.With the recovery of global economy and the recovery of aviation market, in order to attract and retain talents, airlines often need to improve the salary and welfare level of employees. This has increased the labor cost of Cathay Pacific to a certain extent, thus compressing its net interest rate space.

Secondly, in addition to labor costs, airlines also need to face various cost pressures such as fuel price fluctuations, aircraft maintenance costs, and route operating costs.The changes of these cost factors will directly affect the profitability of airlines. For example, the increase in fuel prices will increase the operating costs of airlines, thus reducing their net interest rates.

In addition, market competition is also one of the important factors that affect the net interest rate of airlines.In the highly competitive aviation market, airlines often need to adopt price competition strategy in order to compete for market share and customer resources. Although this strategy can increase sales and market share, it will also reduce the profit rate of airlines to some extent.

Although Cathay Pacific has a high gross profit margin, its net interest rate performance is not ideal due to the increase of labor costs and market competition. In order to improve profitability, Cathay Pacific needs to make more efforts in cost control, market expansion and service quality improvement. Because Cathay Pacific’s high gross profit margin did not bring high net interest rate.

In the aviation industry, the performance of companies is often affected by multiple factors such as macroeconomics, fuel price, market competition and service quality. Cathay Pacific, as one of them, does not have obvious advantages over the same industry in some aspects.

First look at the revenue data. Although the revenue disclosed by Cathay Pacific in the latest financial report is still huge, compared with the industry leaders, its growth rate is somewhat weak. Take Singapore Airlines and Emirates as examples. Both airlines have achieved steady revenue growth in the past few years, while Cathay Pacific’s revenue growth is relatively slow.

There are many reasons for this situation. On the one hand, the market competition is becoming increasingly fierce, especially in Asia, where emerging airlines are constantly emerging, posing a severe challenge to traditional airlines. On the other hand, Cathay Pacific may be too conservative in route layout and market expansion, failing to fully grasp the growth opportunities of emerging markets.

Let’s look at the net profit data. Cathay Pacific’s net profit performance is also not optimistic. Compared with its counterparts such as Singapore Airlines and Emirates Airlines, Cathay Pacific’s net profit level is low and fluctuates greatly. This instability not only affects the profitability of the company, but also increases the risk of investors.

The reasons of net profit fluctuation mainly include fuel price fluctuation, exchange rate change, market demand change and other factors. However, Cathay Pacific seems to be unable to cope with these risks. Especially in terms of fuel prices, Cathay Pacific failed to effectively hedge the pressure brought by rising fuel costs, resulting in a greater impact on net profit.

In terms of gross profit margin and net interest rate, Cathay Pacific’s performance is also unsatisfactory. Although its gross profit rate is relatively high, its net profit rate is far below the average level of the same industry. This means that the company is facing great cost pressure in the operation process, and the profit space is severely squeezed. This is mainly due to the pressure of labor cost, fuel cost and market competition faced by the company in the operation process, which leads to the compression of profit space.

Because Cathay Pacific has been criticized for its service quality, there are as many as 721 complaints about Cathay Pacific on the complaint platform Black Cat. In order to improve the service level, the company has increased its investment in employee training, which has increased its labor cost to some extent. It is reported that the labor cost of Cathay Pacific in 2023 increased by 3 billion yuan compared with previous years.

Although Cathay Pacific has made efforts in service training, its service problems are still frequent, which may be related to the company’s management system, staff quality and corporate culture. In contrast, Singapore Airlines and Emirates Airlines have shown good stability in terms of gross profit margin and net interest rate.

There are two main reasons for this situation. First of all, fixed expenses such as labor costs account for a relatively high proportion, which makes it difficult for Cathay Pacific to reduce costs during its operation. Especially in terms of employee compensation and welfare, Cathay Pacific needs to invest a lot of money to maintain the stability of the workforce and the quality of service. Secondly, the fierce market competition makes airlines have to adopt price competition strategy to attract customers, which further reduces Cathay Pacific’s profit margin.

In fact, how to find a balance between improving service quality and controlling costs is a big problem for Cathay Pacific. On the one hand, improving service quality can improve customer satisfaction and loyalty, thus bringing more market share and benefits to the company. On the other hand, excessive investment may lead to rising costs, declining profit margins and even losses. Therefore, Cathay Pacific needs to pay more attention to cost control and operational efficiency improvement on the premise of ensuring service quality.

The change in the rating of Cathay Pacific also reflects its performance to some extent. In recent years, due to the problems in service quality, cost control and market competition, some institutions have downgraded Cathay Pacific. These rating changes not only affected the company’s share price performance, but also dealt a blow to its market reputation and investor confidence.

In the latest trading day, Cathay Pacific’s share price fell by more than 4%, and CLSA downgraded its rating and earnings forecast. In the research report released by CITIC Lyon, Cathay Pacific’s investment rating was adjusted from "buy" to "outperform the market" and the target price was kept at HK$ 10.6.

The report predicts that the profit attributable to ordinary shareholders of the company will increase by 29% to HK$ 5.1 billion in the second half of 2023, which is 22% higher than previously expected. At the same time, it is expected that the company will resume paying ordinary dividends in advance.

However, CLSA believes that the risk return of the current share price is not attractive in view of the changes in air ticket prices and rising staff costs. Therefore, the agency lowered its profit forecast for 2024-25 by 4-5%, mainly because it has not seen obvious signs of improvement in freight business.

ICBC International, the investment banking department of the largest bank in the Mainland, downgraded Cathay Pacific to "strong sell" and adjusted its target price to HK$ 6. This shows that ICBC International is pessimistic about Cathay Pacific’s future development prospects.

To sum up, Cathay Pacific’s performance in 2023 does not have obvious advantages in the aviation industry. In order to enhance its competitiveness, Cathay Pacific needs to make more efforts in service quality, cost control, operational efficiency and market risk management.