The soaring oil price has once again attracted everyone’s attention. In many places, the unit price of 92# gasoline has exceeded 8 yuan/liter, and the voice of "can’t afford to add oil" is getting higher and higher. As an SUV owner, looking at the comprehensive fuel consumption of 100 kilometers up from 10 liters on the meter, the idea of starting a new energy vehicle has become stronger and stronger. Recently, four new energy SUVs have attracted my attention, hoping to give some reference to friends who also want to start new energy vehicles.

Byd yuan PLUS

BYD’s achievements in the field of new energy are obvious to all, and the explosive models launched are also continuous. BYD Yuan PLUS, which attracted widespread attention last year when it carried out preheating publicity. Different from the other derivative models of BYD Yuan Series, Yuan PLUS’s body size has been fully upgraded, with the length, width and height reaching 4455x1875x1615mm and the wheelbase of 2720mm respectively, and the vehicle positioning has also been upgraded to a compact SUV.

The appearance of yuanplus adopts BYD’s latest family-style appearance, which is more recognizable, and the rear of the car adopts penetrating taillights to enhance the layering and fashion sense of the rear. The design language of the interior is refreshing. The inspiration for the shape of the air outlet and the shape of the handrails on both sides of the door is said to come from musical instruments, but for users of different ages, the acceptance may be different. In terms of power and endurance, which everyone is most concerned about, YuanPlus is equipped with a motor with a maximum power of 150kW, and lithium iron phosphate batteries with capacities of 49.92 kWh and 60.48 kWh, respectively. The cruising range under CLTC conditions is 430km and 510km, respectively, and the subsidized guiding price is 13.18-159,800 yuan. From the point of view of price and positioning, BYD Yuan PLUS will become a competitor of Guangzhou Automobile Ai ‘an Y, Nezha U and Tucki G3.

Bound M5

Wenjie M5 is a brand-new product jointly built by Huawei and Jin Kang Celeste. The new car adopts extended-range power, and the fuel-electric driving mode makes it no longer have mileage anxiety. As the first vehicle equipped with Huawei HarmonyOS in-vehicle system, users have high expectations for the performance of the in-vehicle system. Wenjie M5 uses a 1.5T four-cylinder engine as the range extender, and its power configuration has three versions: 272 horsepower, 428 horsepower and 496 horsepower. Except for the entry-level version, it is a rear-drive model, and the others are all four-wheel drive models. All models are equipped with a ternary lithium battery pack with a capacity of 40 degrees, and support 0.75 hours of fast charging.

The Wujie M5 is positioned in a medium-sized SUV, and there are not many bright spots in the design. The design language is particularly concise, with the dimensions of length, width and height of 4770x1930x1625mm and the wheelbase of 2880mm, respectively. The interior space of the car is considered medium in its class. At present, there are not many extended-range power models on the market. Li ONE is the best seller at present, and its six-seat large space is one of its biggest selling points. The second is Lantu FREE. The price of the M5 in the world is 24.98-31.98 million yuan, which overlaps with the positioning of the first two. It is not easy to break through the tight encirclement, but with the technical blessing of Huawei, everything is still unknown.

Mocha DHT-PHEV

The listing of Mocha DHT-PHEV means that hybrid power will become the development focus of Great Wall Motor in the new energy field in the future. The appearance of Moka DHT-PHEV is very close to that of the fuel version, and the dimensional parameters are basically the same, with the length, width and height of 4875x1960x1690mm and the wheelbase of 2915mm respectively.

The biggest highlight of this new car is the powertrain. Moka DHT-PHEV is equipped with a 1.5T engine, which adopts special technologies such as Miller cycle and high-temperature VGT pressurization, which can effectively improve engine efficiency. There are two models on the market this time, two-wheel drive with 130kW motor and front and rear dual-motor four-wheel drive with a total power of 265kW, which are matched with 2-speed DHT (special gearbox for hybrid power). It is said that the comprehensive fuel consumption under WLTC is as low as 1L/100km, and the price is 295,000 yuan and 315,000 yuan respectively. Compared with the fuel version, the pricing is greatly increased, and the fuel version of Mocha is cold in the market. Wei Jianjun blames the poor marketing. Whether it can make a breakthrough in the plug-in hybrid vehicle with a comprehensive upgrade of power and fuel consumption is still very exciting.

Xing tu Zhu feng ET-i

Chery has also begun to catch up in the field of hybrid power. In January this year, it launched the Tiggo 8PLUS Kunpeng e+, which is the first new car equipped with plug-in hybrid power in Chery SUV series. The high-end brand Xingtu also launched the Chasing Wind ET-i equipped with the same powertrain. It is expected that this powertrain will be carried to more models under Chery. Compared with the fuel version, the appearance of Star Road Chasing Wind ET-i has hardly changed. The design language is simple and fashionable, and the body lines are tough, which is in line with its own positioning.

The powertrain of Star Road Chasing Wind ET-i consists of a 1.5T engine and a motor with a total power of 125kW. The comprehensive power of the system reaches 240kW, and the comprehensive torque reaches 510Nm, with excellent performance in power parameters. It is matched with a 3-speed DHT (special gearbox for hybrid power). At the same time, the car is equipped with a ternary lithium battery pack of 19.27kWh, and the cruising range under NEDC working conditions is 105km. The official claims that the fuel consumption is only 4.8L/100km, and the comprehensive fuel consumption is as low as 1.0L/100km. The guide price of ET-i is only 14.98-15.98 million yuan, which looks very attractive.

2022 is destined to be a year of sustained and rapid growth of new energy. The above four SUVs cover three mainstream powertrain forms in the field of new energy vehicles: pure electric, extended range and plug-in hybrid power. Which model do you think has the best chance to become an explosion? Welcome to express your opinion in the comments. (Text/Yu Feng)

Bluetooth technology was born in 1994 and was invented by Ericsson. Its original purpose was to make wireless headphones possible through wireless audio transmission.

In the past more than 20 years, Bluetooth is the most mainstream short-range wireless communication technology, which is widely used in mobile phones, headphones, handles, keyboards and other devices.

However, Bluetooth technology also has many inherent shortcomings.

For example, the delay of human-computer interaction devices such as Bluetooth mouse and handle, the audio quality and stability of Bluetooth headset, and the number of intelligent Bluetooth networking devices in the whole house are not satisfactory.

.

So, China people’s own "NearLink" came!

On August 4th, at the Huawei Developers Conference HDC023, Yu Chengdong, CEO of Huawei Terminal BG, announced that,

Huawei will introduce Starshine NearLink into HarmonyOS’s ecology.

What are the advantages of Star Flash over Bluetooth?

It is understood that Star Flash is a new generation of short-range wireless connection technology native to China. It is the first time that China’s communication industry has innovatively applied the experience and technology accumulated from following to leading the world for more than 30 years in the field of short-range wireless connection, which is another important milestone for China’s scientific and technological self-reliance.

Fast Science and Technology learned that in 2020, the Ministry of Industry and Information Technology took the lead in formulating the near field communication standard for Star Flash.

In September 2020, the Star Flash Alliance was formally established. It only took more than two years from the official start of standardization work to the first commercial use, and it became the fastest-growing short-range wireless technology in history.

Flash-related technicians said that Star Flash is to solve the demand that WiFi and Bluetooth can’t meet the ultimate experience such as delay and reliability in some subdivided scenarios of smart terminals and smart homes, rather than subverting WiFi and Bluetooth.

In terms of technical advantages,

Star flash has the advantages of low delay, high speed, high concurrency, high reliability, anti-interference and precise positioning.

Star Flash only uses 60% energy consumption of Bluetooth, and it can reach 6 times speed, and the transmission delay is only 1/30.

Star Flash can improve the air interface delay of e-sports mouse from millisecond level to microsecond level. In addition, with its high bandwidth and anti-interference ability, lossless audio that was difficult to achieve in the past with Bluetooth headset becomes a reality. In the smart travel scene, the positioning accuracy of Star Flash digital car keys has changed from meter level to decimeter level.

It is reported that,

As a member of the Star Flash Alliance, Huawei has contributed its wireless communication experience and technology precipitation for more than 30 years to the Star Flash standard.

For the first time, the 5G technology contributed by Huawei, such as Polar code, was shortened and made great contributions.

　　Growing vegetables and selling drinks and pork.

　　Opened more than 100 chain stores and became the "pork king" in Guangzhou.

　　Claiming that "selling pork is more technical than selling computers"

　　As a fresh graduate, it is almost impossible to sell pork as a career choice. A few years ago, the news that Lu Buxuan, a gifted scholar of Peking University, was a butcher once spread all over the country, which triggered a great discussion about whether this behavior was a waste of talents. However, a few years later, another talented person from Peking University, Chen Sheng, also quietly entered the pig industry, and opened nearly 100 pork chain stores in just one year, becoming the largest pork chain store in Guangzhou and even Guangdong, and was called the "king of pork" in Guangzhou. A few days ago, in an interview, he even broke the amazing words: "Selling pork is more technical than selling computers."

　　What is his personal experience and entrepreneurial story? A few days ago, the reporter had an exclusive interview with Chen Sheng.

　　

　　Chen Sheng said: "I like this kind of doing things in unknown areas or in a more complicated environment, including selling pork."

　　Chen Sheng, born in Zhanjiang, Guangdong, holds a bachelor’s degree in economics from Peking University and an EMBA from Tsinghua. After graduating in 1984, he was assigned to an institution in Guangzhou. Three years later, he resolutely decided to go to sea.

　　A paper triggered the idea of resignation.

　　When talking about why he gave up such an enviable "iron rice bowl", Chen Sheng said with a smile that he was the only one who entered the office at that time. One day, he wrote a paper entitled "China will enter a free economy sooner or later", which was later published, but somehow it got to his boss. After the boss saw it, he called him to the office to "educate" him and thought that there was something wrong with his concept.

　　"At that time, I was depressed. I felt that I was out of place there and I couldn’t find a career advantage." Chen Sheng said that he likes to make decisions on certain things independently, but in that working environment, he can’t act according to his own personality. It can be said that the "paper incident" prompted him to make an indirect decision to resign.

　　Growing vegetables earns the first pot of gold in life.

　　After resigning, in order to make a living, Chen Sheng became a ghost and began to sell clothes in stalls. After selling clothes for months, he made a little money. Then one day, he went to a relative’s house in rural Zhanjiang to play. On the same day, his relatives carried more than 100 kilograms of radishes they planted to the streets to sell. However, due to the windy and rainy weather at that time, their relatives only sold 10 kilograms and made money in 10 yuan. On the same day, the experiences of other farmers in the village were similar. A group of farmers were very angry and sat on the ground complaining that they would never do it again next year.

　　Chen Sheng, who stood on the side at that time, was inspired by this sentence. According to the principle of economics, the price will rise when the supply is less than the demand. So, he used a little savings earned by reselling clothes to contract 100 acres of vegetable fields and took some vegetable farmers to cultivate them himself. During this period, he found that besides the supply and demand, the price of vegetables was most affected by the weather. Especially when the Siberian cold current approached the day before Guangzhou, the weather was sultry that day, and the price of vegetables was very cheap. Chen Sheng took the opportunity to buy all the vegetables that could be bought in the market. On the day of cooling, it happened to be a holiday, and most farmers didn’t come out to sell vegetables. "The purchase price is 1 cent a catty, and I sell it for 6 cents a catty." Chen Sheng said that this reselling made him earn the first bucket of gold in his life and earned more than 100,000 yuan at once. Since then, he began to specialize in selling vegetables. As for the understanding that the weather affects the price, Chen Sheng said with a smile that he kept his mouth shut until he went back to chat with the vegetable farmers in that year after eight years.

　　Two phone calls "gave birth" to vinegar drinks

　　With the first bucket of gold earned, Chen Sheng began to devote himself to the real estate industry in Zhanjiang in 1993. It only took him three years to become the top three in Zhanjiang real estate market. Considering some unsafe factors outside the law involved in the real estate industry, Chen Sheng began to switch to making drinks. "At that time, I wanted to make a pure carbonated drink." Chen Sheng said that just as his research and development of pure carbonated drinks entered the last moment, the phone calls from two friends changed his fate.

　　Chen Sheng said that at that time, two friends called him and said, "Don’t develop your carbonated drinks any more. Everyone is popular to drink vinegar drinks these days." It turned out that when a country leader visited Zhanjiang, he chose Sprite to blend vinegar, a novel drinking method, and vinegar drinks became popular for a time. Chen Sheng ran to the market and made an investigation. He found that everyone blended vinegar and Sprite directly, but there was no ready-made vinegar drink. Immediately, he made a bold decision to produce vinegar drinks immediately. Thus, in 1997, the first vinegar beverage in China was born in the hands of Chen Sheng.

　　Go to the market to buy meat and join the pork stall.

　　"I like this kind of doing something in an unknown field or in a complicated environment to satisfy some of my desires, including selling pork," said Chen Sheng, who decided to "kill pigs" when he went to the market to buy meat. He found that this industry was misunderstood by others, this profession was misunderstood by others, and many things were misunderstood by others. Guangzhou’s pork market is several billion yuan a year. Why doesn’t anyone expand it? With such doubts and the temptation of a huge market, Chen Sheng began to invest. He believes that the more neglected the industry, the greater the opportunities, the first is the market, and the second is competitors.

　　He explained that if he was selling computers, he would have to face competition from tens of billions of enterprises like Lenovo, but he still had an advantage over his competitors by choosing to sell pork. He is going to do something great in this profession, for example, people sell one pig and half a pig, but he can sell more than a dozen pigs. Isn’t this the level of Peking University?

　　Selling pork is more technical than selling computers? Chen Sheng has an explanation for this. "Selling a computer is to assemble all kinds of hardware and then sell it to consumers. Assembly is a technology, which only needs a little study. However, for selling pork, how to divide and match fat meat, lean meat and ribs determines the profit or loss of selling pork, and its variability is great. "

　　For example, he told reporters that lean meat, for example, is all thin and not delicious, too fat and not good. From the taste point of view, it may be best to add 3% fat, but it is impossible to teach the operation, and it may depend on the touch. Therefore, cultivating a good pork knife seller is the embodiment of technical content.

　　So, in 2006, Chen Sheng built his local pig breeding factory near the junction of Zhanjiang and Guangxi, and in 2007, he began to open a pork stall in Guangzhou to sell pork. In just one year, it has developed into the largest pork chain store in Guangzhou and even Guangdong, "No.1 local pig". (Author: Zhang Danyang correspondent Jiang Feixue)

Editor: Fan Jing

Text | Xiaguang Society, Author | Guo Zhaochuan, Editor | Ma Ji

Since its comeback on February 12th, the new account "Bee Surprise Club", which is composed of the original Viya "Help Broadcast Group", has been broadcast live for 15 days. Until last night, the viewing traffic of the new account could still reach 6.5386 million.

Viya’s old fans know that the connection between this newly opened live account and the original Viya live room is inextricably linked:

Viya’s official subscription number is "Viya Surprise Club", while her husband Dong Haifeng’s fan base is called "Bees". Besides, all five people in the "Bee Surprise Club" are former Viya’s helpers and models, and the supply chain and product selection still continue the original idea of Viya’s live broadcast room.

The successful launch of "Bee Surprise Club" means that the live delivery team in Viya "came back from the dead" after it was suspended for tax evasion in December last year.

Although Viya didn’t appear in front of the camera, as the public speculated, the successful test of his broadcast team showed that the "depersonalization" of live broadcast with goods would become more and more distinct in the future.

The characteristics of relying on personal charm to bring goods will gradually weaken in the future, while the supply chain, product selection and business of the live broadcast company ….. are like a precision machine, supporting the live broadcast room to be lively again.

After Viya, perhaps no studio will be the only one, and more and more studios will have the shadow of the original live broadcast with goods.

Among the six members of the "Bee Family", Hao Hao, Kai Zi and Cai Fa used to help broadcast in the live studio in Viya, while two of the three girls, Xiao Han and Duo Duo, used to be models in the live studio in Viya.

On the social media account of Bee Surprise, the title of the first live broadcast notice list was labeled "We are back with the joy of live broadcast". The anchor Hao Hao’s testimony is even more straightforward: "These two days have returned to the previous rhythm of life."

Although they call themselves "small teams working hard to start businesses" in the live broadcast, there is no doubt that there was a shadow of Viya team behind them. After the broadcast, fans showed "You’re back" one after another, indicating that everyone knows the connection between this new account and Viya.

Not long ago, there were rumors that "Viya will return as soon as March this year". According to reports, Viya’s original Taobao account will be resumed, and its name and fans will not change. When the news came out, it was strongly opposed by public opinion.

Compared with the comeback of VIA herself, the fans’ attitude towards the "bee family" is relatively tolerant:

"She made a mistake and accepted the punishment herself. Can employees not work?"

"It’s just a migrant worker. Isn’t it still broadcast by changing the company name?"

Since the launch of the new team on February 12, the live data has also been quite eye-catching — — Within a few hours of broadcasting, 900,000 people poured into the studio. The first live broadcast of the new team received a cumulative broadcast volume of 1.186 million, and then the broadcast volume climbed all the way, breaking through 10 million on the fifth day. After February 20, the data can still be maintained at around 5 million to 7 million, which has surpassed the general traditional waist anchor.

The notice about the live broadcast of the "Bee Surprise Club" with goods, like the previous first-line anchor notice, has attracted much attention from consumers.

The same strategy is also used by the Sydney team.

After witnessing the re-emergence of the "bee family", the Sydney team also "awakened" one after another.

On February 16th, four days after the launch of "Bee Surprise Club", the original live broadcast room "Guangguang is coming" in Sydney was launched. The first live broadcast received 1.866 million broadcast data, and then climbed to the highest 4.975 million broadcast.

Soon after, "Guangguang is coming" was renamed as "Mushrooms are coming", which made many regular guests in the live broadcast feel that it was "following suit" with the Viya team. The name "Bee Surprise Club" comes from Viya’s husband Dong Haifeng, while Sydney’s husband is nicknamed "Aunt". The so-called "mushrooms" and "bees" actually come from the same routine.

However, in contrast, the water test here in Sydney is more "bold". At one time, Sydney’s husband appeared directly on his own, while Viya and the company were more cautious. The more familiar help-broadcast girl did not appear, and the anchors currently selected were not directly related to his family.

Some people take the current live broadcast preview list of Taobao to reveal the current Taobao head anchor situation:

The live broadcast room in Li Jiaqi stands out; Followed by "mushrooms come" with the shadow of the former Sydney team; The "Bee Surprise Club" bears the imprint of the former Viya team. Going around for a long time, the head anchor Jiangshan is still controlled by the same group of people.

No wonder many viewers speculated that the original head anchor was retreating behind the scenes. Relying on the old team to continue the delivery business is the real trend and effective strategy in the field of live delivery.

A team that used to be able to sell rockets live will not be devastated by someone’s fall.

At the end of last year, when Sydney and Viya stopped broadcasting one after another due to tax problems, everyone almost only paid attention to their personal and live conditions. But in fact,Whether it is Viya or Sydney, or even a head anchor with the ability to carry goods on any platform, there is a company machine with precise operation behind it.

Sydney once sent many employees severance letters and held a "clearance sale" in a park in Hangzhou. Viya’s team never actually disbanded. After Viya stopped broadcasting in December last year, it only gave the live broadcast team a week off, and then began to serve other anchors.

At first, Viya’s company showed the characteristics of a small family workshop. Viya’s husband and brother both hold important positions in the company. My younger brother, Huang Tao, has been the CEO of the company since he was a temporary product selection person in a small team. Viya’s original assistant, Qi Er, is her own sister-in-law.

However, with the expansion of the company’s scale, Qianxun (the company behind Viya) has also realized the transformation from a small family workshop to a large Internet company. The company introduced the flower name system of Internet companies, such as Viya’s younger brother Huang Tao, whose more widely known name is actually his flower name "Ollie".

Before the tax problem broke out,The work intensity of Hangzhou Qianxun employees is no less than that of any Internet company.. It is normal to get off work after 10 o’clock every night, and the business departments are all on a weekly rest system. It is relatively relaxed for the financial and administrative employees to implement "big and small weeks". In addition to the anchor, assistant broadcaster and model in front of the camera, the company also has various support departments such as China Merchants Selection Department. In the heyday of Viya Company, there were more than 40 people in the investment team alone, and the product selection work was subdivided into more than a dozen vertical lines, which were completed by more than 300 people.

To put it bluntly, the reason why Viya can become a "live broadcast sister with goods" is not only because of her own fan appeal, but because she can get lower discounts on goods by virtue of intensive advantages such as supply chain and quality control. Her team even mentioned in an earlier interview that "personal charm comes last".

Even if "Viya is gone", as long as you can get the same discount from merchants with goods, practice has proved that you can really attract some fans who simply pay attention to the cost performance of goods.The popularity of "Bee Surprise Club" is proof of this point. As a new account with no fan base, it exploded as soon as it was launched, which is closely related to the operation and accumulation of the whole company in the past six years.

From the perspective of social values, it seems that Viya’s team-led live broadcast with goods should not be advocated. Whether in front of the stage or behind the scenes, public figures with moral defects such as "tax evasion" should not be acquiesced to "make a fortune in silence". But from another point of view, Viya and Li Jiaqi are just the first people to eat crabs in the business model of live broadcast with goods.

Their team has thoroughly understood the internal logic of algorithm, flow, supply chain, product selection, communication and pricing, and made it more and more professional.Although there are many problems in the industry due to lack of supervision and other factors in the early stage, as the development of the whole track matures, the industry dividend will be more even.

Li Jiaqi once said frankly in an interview: "Next year is the peak of the whole industry", and then the peak passed.However, "after the peak period of the industry" does not mean that the live broadcast has turned off..

In fact, the competition of the whole live broadcast track is even more fierce. Judging from the live broadcast platform, not only Taobao and other e-commerce platforms, but also the interest e-commerce live broadcast of short video platforms and the live broadcast of second-hand trading platforms have no intention of "turning off".

The considerable user scale also proves this point. According to the data of the 48th Statistical Report on the Development of Internet in China, as of June 2021, the number of users of e-commerce live broadcast in China has reached 384 million, up 75.24 million year-on-year, accounting for 38.0% of the total number of Internet users, and this number is still rising. In other words, consumers’ demand and interest in live delivery is actually not low.

From the perspective of the anchor with goods, although the industry has become more standardized, the profit of live broadcast is still considerable. The commission of head anchor food department store products is basically above 10%, and the commission of beauty products can reach 5% to 8%. But the difference is that the super-high profit and bargaining power are no longer only gathered in the hands of the head anchor. Some insiders said, "Taobao will no longer support new head anchors."

Since January of this year, Taobao has issued a series of regulations to strengthen the support and traffic inclination of mid-waist anchors, and more anchors will receive live broadcast bonus. In the past, the situation of "one family is the only one" or "several families are the only ones" in the live broadcast of the anchor with goods on the head changed. Coupled with the popularity of self-broadcast live broadcast rooms of commodity brands, it will be difficult to reproduce the dilemma of ultra-high commission and product selection, and the market will enter a stage of benign competition.

At the same time, the live broadcast track with goods will become more professional. This means that anchors lacking complete team planning and product categories will be quickly iterated."Anyone can bring goods live" and "Star Part-time Bring Goods" will get very limited bonuses.

Take Yu Minhong, who was recently exposed as a "failed studio", as an example.

On December 28th last year, New Oriental announced the establishment of "Oriental Selection" and entered the live broadcast with goods. After the live broadcast of the transformation of New Oriental, the sales in two months was only 4.5 million yuan, and the average single-game sales was only 170,000 yuan. Compared with Luo Yonghao’s live broadcast with sales of hundreds of millions a night, the data of New Oriental’s transformation with goods is really bad.

Is it because Yu Minhong’s personal appeal is not as good as that of several small promoters and models in Viya and Sydney?

Simply from the anchor quality, the anchor with goods in New Oriental really lacks the professionalism nurtured by Viya and Sydney for a long time, not to mention the professional experience in product selection and supply chain cooperation.

The selection of live broadcast anchor in the East is the former teacher selected by New Oriental through internal recruitment. Although the teachers in New Oriental are really "eloquent", the fact that they can adjust the classroom atmosphere does not mean that they have a set of products to introduce. Many netizens say that "after watching the live broadcast, they feel not very interesting".

In fact, even a few anchors from Viya’s team in Bee Surprise Club are inevitably criticized by netizens: "You criticize me, and a group of people explain it too messy", "The professional degree of commodity explanation is not as good as that of Viya" and so on, not to mention the non-professional anchors who have become monks halfway.

Moreover, although the maximum audience of "Bee Surprise Club" is considerable, it is still less than one tenth of the audience that Viya had earlier, which was more than 90 million. Although the live broadcast of the cargo track is still far from the flameout, it is even more difficult to enhance the influence of the live broadcast room even with the team foundation of the former head anchor.

Just yesterday, Xiaomi made a car and finally took a key step! The Ministry of Industry and Information Technology publicized the model and production enterprise of Xiaomi pure tram. Although the reporting enterprise is BAIC Group, the actual production address is Xiaomi’s own automobile factory.
In other words, Xiaomi is affiliated with BAIC’s qualification and got the "birth certificate" issued by the Ministry of Industry and Information Technology. According to media reports, this time Xiaomi will release two cars, namely SU7 and SU7MAX, which are expected to be launched in February next year.

In appearance, many people feel like Tucki P7, but the size is slightly larger. The interior includes a panoramic open roof and a borderless door design. The door glass is marked with Xiaomi logo, and even the sound cover is printed with Xiaomi logo, which means that Xiaomi’s own sound system is likely to be adopted.
The most critical car battery, Xiaomi uses ternary lithium-ion battery and lithium iron phosphate battery, which are from Contemporary Amperex Technology Co., Limited and BYD respectively. At present, Xiaomi’s factory in Beijing Economic Development Zone has started small batch production. Industry insiders estimate that the price will be within 300,000, and the sales volume will be 50,000 to 60,000 after listing next year. Compared with the sales volume of 100,000 in 2024 proposed by Lei Jun, there is still a big gap.
Although the new energy track is a hot spot now, it is really "rolling" in the industry. In the 200,000-300,000 range that Xiaomi focuses on, there are not only leaders such as BYD and Tesla, but also new forces such as Wenjie, Tucki and Zero Run.

Lei Jun should have thought of all kinds of consequences before he decided to build a car. When Lei Jun announced to build a car in 2021, he said something meaningful. He said that Xiaomi has a cash reserve of 108 billion, and we can afford it. He also said that with such a cash reserve, if you don’t fight seriously, you will be ashamed of your support for rice noodles.
However, I am afraid that this time, rice noodles will let Lei Jun down. More than 200,000 cars are not more than 2,000 millet phones, so consumers must carefully consider them.

Just like Xpeng Motors released its Q3 financial report yesterday, it lost another 4 billion yuan in one quarter, while in the first three quarters of this year, Tucki has already lost 9 billion yuan. I am afraid that the speed of losing money like this is as unbearable as Lei Jun. Although Xiaomi claims to have a cash flow of 100 billion yuan, it is impossible to use it all to build a car.
We must know that Huawei’s breakthrough in 5G this year has seriously impacted Xiaomi’s mobile phone business. Lei Jun can’t use too much money to build a car this time. I’m afraid Xiaomi is run out of luck, and it’s hard to get away with it.

On January 8th, Aouita 11 HarmonyOS version of Zhixiang upgrade was officially launched. The car has mainly undergone four upgrades: intelligent driving upgrade, equipped with map-free NCA function that does not rely on high-precision maps; Comfort upgrade, four somatosensory optimizations; Chassis upgrade, adding Huawei iTRACK function; The rights and interests are upgraded, and the "intelligent" highest rights and interests can be enjoyed for life. Moreover, there is no price increase in the whole department, and the prices of 90-degree rear-drive version 300,000 yuan, 116-degree rear-drive version 335,000 yuan, 90-degree luxury version 350,000 yuan and 116-degree luxury version 390,000 yuan remain unchanged.

With the launch of the car, Aouita has entered the era of intelligent driving with "de-high-precision mapping", effectively making up for the shortcomings of the intelligent driving scheme with high-precision maps, not only solving the pain point of "following the map", but also unlocking more high-frequency intelligent driving scenes. It is reported that its urban NCA intelligent driving function will unlock more than 300 cities at one time, bringing users a travel experience of "all the country can open and all the country can open".

Thanks to the industry’s top-stream vehicle-side perception and calculation ability brought by three laser radars that are fully equipped at the beginning, Aouita 11 can land quickly without relying on the intelligent driving NCA function of high-precision maps. Aouita 11′ s intelligent driving system integrates the Road Topology Reasoning Network (RCR) and the industry’s first GOD network to build real-time road information, identify all kinds of obstacles sensitively, and improve the safety of human driving and intelligent driving.

Aouita 11′ s intelligent driving system can make rapid and reasonable vehicle movement planning and path planning, and its driving style is more "human-like". In case of repairing subway, tidal lane, temporary road changes caused by traffic control and other scenes, the intelligent driving system can make up for the difference of iteration period of high-precision maps, and truly drive with or without maps, and the complex road conditions will not be degraded. In response to daily commuting and self-driving cross-provincial travel scenarios, the intelligent driving system can independently choose roads with higher traffic efficiency.

Combined with user feedback, the car has also been optimized for the leg, waist, back and sitting posture of the seat, so that users can have a comfortable experience no matter which seat they are in or which sitting posture they take. At the same time, the chassis of the car is upgraded with Huawei iTRACK architecture, which can realize ultra-fine road condition perception of 10,000 times per second and real-time adjustment of torque of 1,000 times per second, so as to realize the best power output mode under different road conditions and create the best driving experience.

Huawei’s iTRACK function "makes the road smooth". Aiming at the most common speed bump scene in daily life, Huawei iTRACK accurately identifies the wheel speed fluctuation, and adjusts and controls the torque within milliseconds to achieve rapid convergence. Through the actual measurement, the wheel speed fluctuation can be reduced by 50% and the aftershock time can be shortened by 40%, thus effectively improving the comfort and safety of the whole vehicle and bringing better driving experience to users.　

The rights and interests are easy to upgrade. From now until February 29, 2024, car buyers can choose one of the following rights and interests: rights and interests 1. Users who buy cars after January 8 will be given a high-end smart driving bag worth 26,000 yuan; Second, during the activity, car buyers can enjoy the discount of paying a deposit of 5,000 yuan to offset the car payment of 25,000 yuan. In addition, Aouita also introduced more car benefits in a limited time, including: the first car owner’s lifetime three-electricity warranty; 6000 yuan replacement subsidy; Give away the intelligent fragrance system; The down payment starts from 42,000 yuan, and the full-term ultra-low interest financial concessions.

Upstream news Wu Jian

　　A few days ago, Apple promised to replace batteries for some 6S series mobile phones for free, but many consumers complained that it was difficult to make an appointment, queue up and maintain. The Beijing Morning Post reporter visited two direct stores and found that there was a long queue of tens of meters waiting for mobile phone testing and maintenance. The staff admitted that it may not be possible to change batteries after waiting for 4 hours. At the same time, online "scalpers" appeared to help make an appointment, with prices ranging from 10 yuan to 100 yuan. Apple’s official customer service reminds consumers to repair and replace the wrong peak. If the documents are complete, it is recommended to go to the designated repair outlets for repair, but the Beijing Morning Post reporter randomly visited two outlets, but it was all in vain.

　　Waiting for three hours in front of the door may not be replaced.

　　Yesterday morning, the reporter came to the Apple Store in Sanlitun. Although it was not open yet, there were about 50 people lined up at the door, mostly consumers who came to test and replace the mobile phone battery. Xiao Wang, who was waiting with a mobile phone, told reporters that he had failed to make an appointment online many times. "I heard that because the battery is out of stock, even if it is queued on the spot, it may not be able to be changed, but I still want to try my luck." The security guard near the shopping mall said that the "surge of people" in front of the Apple store has become the normal state in recent days. "When there are many people, you have to turn a corner in a row."

　　When the door opened at 10 am, people flocked in, and the staff guided a dozen consumers who had made a successful appointment to sign in first. One of the staff said that at present, hundreds of mobile phones have to be repaired every day. "Yesterday, there were more than 40 phones that were not repaired." He introduced that consumers who have not made an appointment like Xiao Wang can only test in the store but can’t replace the battery. "After testing, it is recommended that he go to our authorized outlets for maintenance, and the service is the same."

　　Then the reporter went to Wangfujing Apple Store, just like Sanlitun Store, and there was still a long queue at the door of the store. "If the battery is available, it will take at least three or four hours to change it. We will give priority to customers with appointments." The staff explained that due to the large number of people replacing batteries recently, there are often out of stock situations, and the store will no longer accept non-reserved customers.

　　Officially designated outlets eat two doors shut.

　　What about Apple’s officially designated outlets that "provide the same service"? According to the list of outlets given by the staff, the reporter went to a maintenance point on the 9 th floor of Sun Dong’ an Square, but he was turned away. A notice posted on the door said, "Our store is suspended due to internal business integration and maintenance." The reporter dialed the contact number and was told that when to resume business, he still needed to wait for a notice.

　　Later, the reporter went to the designated maintenance point in the Sanyuanqiao Third Real Estate Building in Chaoyang District, which is also the "Iron General" to close the door. The business hours here are only from Monday to Saturday. Two consumers who came to replace the battery had to sigh and go home. "The appointment can’t be made, and the store can’t be arranged. After listening to the words of the store staff, I ran over and thought that I could finally repair it, or I ran for nothing!"

　　Subsequently, the reporter randomly dialed seven officially designated maintenance outlets as customers, and only two of them were successfully connected. Among them, the staff of the maintenance network on the second floor of the post office of the Asian Games Village in Chaoyang District introduced that there were more than 20 people waiting in line in the store at two o’clock in the afternoon. "If you want to repair it, you have to come early." He especially reminded consumers to bring their mobile phones, packaging boxes, three-package cards, invoices and ID cards before they can be repaired. Generally, it is necessary to leave the mobile phones in the store for about a week to replace the mobile phone batteries.

　　The online "yellow cattle" selling business is hot.

　　Apple’s free "battery" is so hard to enjoy, but it allows "yellow cattle" to find business opportunities and sell Apple’s after-sales appointment number online. The reporter searched a website for two keywords: genius bar and appointment, and hundreds of related "treasures" appeared, some of which indicated the appointment numbers of the day and the recent purchase of Apple. The optional locations included many cities in China, and the prices ranged from 10 yuan to 100 yuan.

　　One of the stores is called "Appointment Expert", which only sells the appointment numbers of Shanghai, Beijing, Shenzhen and other places, and this "baby" sells 174 times a month. The reporter consulted as a customer. The other party said that the prices of all store reservation numbers in Beijing are 50 yuan. "The prices in every place are different, and other cities are more expensive than Beijing!" He also said that it is the earliest time to buy the reservation number after 3 days. "Give me your information. After I make an appointment, you can go directly with your ID card."

　　The reporter consulted another seller. He said that he can get the reservation number two days later, but the time is random and the stores are random. When the reporter asked why it was difficult for others to make an appointment with him, the other party changed the subject and did not answer.

　　Apple customer service suggested peak fault maintenance.

　　In this regard, Apple’s official customer service said that it was not long before Apple’s 6S battery replacement policy was introduced, with more customers and greater pressure on supply, so many stores could not replace batteries for consumers in time. In addition to stores, consumers can also hold mobile phones, three-guarantee cards, invoices and ID cards to a number of officially designated outlets for testing and maintenance. As for the case that the reporter mentioned that he was "closed", the customer service suggested that it is best to go before the working day and communicate with the outlets by telephone in advance.

　　The customer service staff also reminded consumers that all mobile phones that meet the requirements of battery replacement within three years can be tested and maintained for a long time. If they are not in urgent need, consumers are advised to avoid the current peak maintenance.

　　Beijing Morning Post Live News

　　Reporter Kang Jiawen and photo

　　　　　　 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.

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.

　　Disu Fashion (603587) answered investors’ concerns on the investor relations platform on March 12th.

　　Investors: Have the development goals and plans of the company changed in 2024? Is it still the same as in previous years?

　　Disu Fashion Secretary: Dear investors, thank you for your attention to the company. The company will make the goals and plans in line with the company’s long-term strategic development according to the needs of customers, macroeconomic changes and the laws of the industry. The company insists on being full of uncertainties.the new normalIt is a long-term strategy of the company to stick to the long-term principle of expanding the company’s territory and enriching the brand matrix around the concept of big fashion. It is not a one-off event. Please pay attention to the regular reports and temporary announcements of the company’s subsequent disclosure. Thank you.

　　Investor: Has the company learned any valuable experience or lessons from its operation outside hours?

　　Disu Fashion Secretary: Dear investors, thank you for your attention to the company. The company insists on being a long-term persistence in the new normal full of uncertainty. Whenever, the company is United, persevering, working together, meeting challenges, coping with external adjustment with full development resilience, pursuing sustained and steady development while embracing changes, and hoping to repay investors with excellent business performance. Thank you.

　　Investor: Will the chairman continue to buy back?

　　Disu Fashion Secretary: Dear investors, thank you for your attention to the company. On September 27th, 2023, the company disclosed the Announcement of Holding Shareholder’s Plan to Increase Shares of Disu Fashion. The controlling shareholder, chairman and general manager plan to increase shares of the company by the way permitted by the trading system of Shanghai Stock Exchange within six months from the date of the announcement, with an increase of about RMB 15 million. By November 17th, 2023, 561,200 shares of the company had been increased by centralized bidding, accounting for 0.5% of the company’s total share capital. At present, the company has not disclosed the relevant announcement of the completion of the implementation of the controlling shareholder’s shareholding plan. Please pay attention to the subsequent relevant announcements. Thank you.

　　Investor: How can the company become bigger and stronger, and feel that the company is satisfied with being small and beautiful?

　　Disu Fashion Secretary: Dear investors, thank you for your attention. The company insists on being a long-term persistence in the new normal full of uncertainty. It is the company’s long-term strategy to expand the company’s territory and enrich the brand matrix around the concept of big fashion. Thank you.

　　Investor: The last big show in Dunhuang was in 2021. Will the company hold such activities again?

　　Disu Fashion Secretary: Dear investors, thank you for your attention to the company. In October, 2023, Di Su’s brands DIAMONDDAZZLE and DAZZLE were invited to participate in the first SHANGHAIGALA held by WWDCHINA in Shanghai, presenting the exhibition of "NEWVISIONOFDESIGN Rebirth". Di Su expressed the innovative power and diversified beauty of China fashion with the brand core single product "Rubik’s Cube Cheongsam" with modern silhouette, and described the fashion inheritance and green future together with the global fashion. In addition, the company will hold new product ordering meetings and catwalk activities of various brands for partners every quarter. In the future, the company will also hold new product launches, catwalks and other activities for the public from time to time. Please take the notice of specific activities at that time as the standard, so please pay attention and thank you.

　　Investors: Jiangnan Buyi’s latest financial report is bright. On the other hand, after the epidemic, its performance has collapsed. Now its performance is basically equal to that of 10 years ago. Since the peers can perform well, the decline of its performance should not be just a problem of the external environment. Is it the best strategy for it to focus on the minority without hitting the shirt? Shouldn’t good things be popularized? Why do you want to imply that you don’t bump the shirt? Before buying, will the customer first consider whether it will bump the shirt instead of whether the dress is what you want?

　　Disu Fashion Secretary: Dear investors, thank you for your concern and suggestions. Since its establishment, the company has been striving to improve brand awareness, reputation and sales performance through multi-dimensional publicity and promotion strategies such as optimizing marketing channels and increasing brand marketing promotion, and is committed to launching brand awareness and providing consumers with better consumption experience and better service. In the future, the company will continue to actively explore diversified publicity and promotion methods, improve brand awareness, create brand differentiation, and continue to accumulate and expand through a stable and sustainable business model.qualityCustomers, do refined and strong main business, and hope to repay investors with excellent business performance, thank you.

　　Investors: The company has many subsidiaries. Which companies are in actual operation? Which companies intend to operate, feel that investment and funds have not actually carried out business activities!

　　Disu Fashion Secretary: Dear investors, thank you for your attention to our company. The establishment of each subsidiary has its significance and function. For details about the subsidiaries of the company, please pay attention to the "analysis of major holding companies" or "composition of enterprise groups" in the periodic reports disclosed by the company. You can know the main business place, registered place, business nature and shareholding ratio of each subsidiary. Thank you.

　　Investor: It has been some time since the company went public. Why not try to expand the international market? Is it premature, or is it lack of international operation?talent?

　　Disu Fashion Secretary: Dear investors, thank you for your attention to our company. By September 30th, 2023, the company had 1,086 stores, including China, Macau and Japan. In recent years, the international economic environment has become more and more complex, and the global clothing industry market has fluctuated. In 2023, the supply chain cost of clothing industry will rise, consumer confidence will decline, the market situation faced by brands will become more complicated, and consumers’ needs and concepts will gradually change. From the industrial point of view, the recovery elasticity of high-end clothing consumption is good, and the domestic and foreign clothing industry is getting rid of low-price competition and entering the stage of high-quality development; From the consumption side, consumers tend to make prudent decisions and choose brands, which drives the establishment of a new market pattern. Therefore, the company will make corresponding overseas expansion plans according to international economic trends, domestic and international supply chains and international economic policies. Thank you.