How to seize the new opportunities of digital transformation in the era of digital economy is a must-answer for Dongguan furniture industry to achieve high-quality development.

　　As a famous furniture manufacturing city in China, Dongguan’s furniture industry is famous at home and abroad. As a characteristic industry in Dongguan, how to seize the new opportunities of digital transformation in the digital economy era is a must-answer for the furniture industry to achieve high-quality development.

　　At the beginning of this year, Dongguan proposed to promote the digital transformation of the furniture industry cluster, with a clear transformation goal of personalized customization transformation, using digital technology to penetrate the front, middle and back ends of the furniture industry, extending from manufacturing business to high added value at both ends of the value chain, and realizing the transformation from "production + sales" to "product + service" by 2025.

　　Industry insiders said that, unlike other industries, the furniture industry is still a non-standard industry to a large extent. There are many product materials, complex processes, and small order volumes. Its digital transformation is difficult to achieve in one step. Although some leading enterprises have taken the lead in digitalization, the digital transformation of Dongguan furniture industry is still in its infancy.

　　Lin Guorong, vice chairperson of the China Furniture Brand Alliance, said that most of the furniture industry in Dongguan produces high-end home products, which also makes the digital transformation of the furniture industry in Dongguan more difficult. "But Dongguan’s advantages are also obvious. Relying on industrial Internet platforms such as Huawei Cloud and Wewin Big Data, the furniture industry will have great technical advantages in digital transformation, and will explore more local solutions for the digital transformation of Dongguan furniture industry clusters."

　　Industry digital transformation is still in its infancy

　　According to the digital transformation roadmap planned by Dongguan, the digital transformation of the furniture industry cluster mainly involves four parts: leading enterprises to create digital transformation system integration solutions; support enterprises to transform production lines, develop intelligent, collaborative and flexible production and processing models, and promote enterprises to transform into new production models such as personalized customization and modular furniture; promote the application of advanced furniture design technologies such as virtual simulation and 3D design, and strengthen the intelligent design of furniture products linked with smart home systems; guide enterprises to accurately grasp the end point retail situation.

　　However, combing the digitization process of Dongguan furniture industry can find that, in addition to the leading enterprises "one ride without dust", the vast majority of enterprises are "jogging in small steps" according to their own actual conditions, and are not in a hurry to digitalize in an all-round layout. The digital transformation of the furniture industry presents a bipolar phenomenon.

　　Mousse health sleep joint stock company isDongguanThe only listed company in the furniture industry, as an industry leader, is undoubtedlyDongguanThe "leader" of the digital transformation of the furniture industry. Entering the Mousse intelligent digital factory, the large screen of the industrial Internet will collect the layout and real-time progress of all kinds of equipment. In the production area, the bed net spring machine intelligently forms the string net, and the automatic edge machine operates in an orderly manner.

　　Due to non-standard products, the home furnishing industry has been facing many pain points such as high cost of personalized production and too much reliance on manpower. Mousse, on the other hand, has installed a "smart brain" in the factory by building an Industry 4.0 intelligent manufacturing system based on the soft furniture industry, allowing custom home furnishings to have flexible production lines and carry out modular and large-scale production.

　　In recent years, Mousse has introduced world-class automated and intelligent equipment and industrial processes such as Siemens. At the same time, it is equipped with an intelligent decision management platform. It integrates CRM, SAP, MES, WMS and other full systems to open up the integrated production process of orders. Production personnel can monitor and analyze the system data of each product in real time. On-demand customized C2M business model can quickly schedule production according to customer personalized and non-standard customized production needs. Customers are fully automated and visual processes from order placement to product delivery, making it one of the most automated production workshops in China’s furniture manufacturing industry.

　　Unlike Mousse, Dongguan Chuangyu Industrial Co., Ltd. chose to "gradually transfer" on the road of digital transformation. In early July, Chuangyu joined hands with Guan Enterprise Shufu to complete the upgrade and closure of Enterprise Resource Planning, and 17 major modules such as business management, group operation, and material management have been launched. Through Shufu Enterprise Resource Planning, Chuangyu Group has opened up data sharing in material control, finished product warehouse management, sales, and procurement, so as to realize data transmission between the brand end and the factory end, improve production efficiency and reduce error rates.

　　Southern finance media reporter learned that as the first step of digital transformation, many furniture enterprises in Dongguan have settled in Enterprise Resource Planning. But most enterprises have only penetrated the internal management link, connecting the front-end supply chain, back-end marketing, store end points and service links, and have not fully realized the integration and digitalization of the whole process. The digital transformation of the production line is still in the initial stage due to the high cost and complicated process.

　　"At present, our digital equipment is only for the early standardization of cutting, edge sealing, punching and other aspects. Last year, we introduced a device for the manufacture of wooden door patterns, which can realize digital three-dimensional cutting. But we have more than 40 processes, which are more complicated, and some process digital equipment is still difficult to achieve." Lin Guorong, chairperson of Chuangyu Group, introduced.

　　Let products and designs take the lead in digitalization

　　Many industry insiders said that most of Dongguan mainly produces high-end home furnishing products, with extremely high requirements for craftsmanship and higher difficulty in digital transformation. Take Rongma Furniture as an example, as a high-tech enterprise with a global professional designer and R & D team, the main production of sofas includes more than ten processes such as nail racks, cotton, and leather, all of which are completed by workers by hand. "Whether the sofa is well done or not, whether it is full or not, depends on manual realization," Rongma Furniture technicians said.

　　At the same time, the government advocates the transformation of enterprises to new production models such as personalized customization and modular furniture, requiring them to adjust their processes according to customer needs. They also face problems such as the large number of non-standardized links and the difficulty of large-scale output due to small quantities.

　　Faced with the challenges of transformation, many companies have turned to breaking through, taking the lead in digitizing their products and designs, promoting the application of advanced technologies such as virtual simulation and 3D design, strengthening the segmentation of the population, strengthening the iterative upgrade of smart home systems and products, and climbing towards high value-added links.

　　"We are currently the first to digitize product design. This year, through AI intelligent design, we have realized the virtual simulation of the exhibition hall. Consumers can experience products interactively on the Internet, accelerating the digitalization process of our flexible production," said Lin Guorong, chairperson of Chuangyu Group.

　　Using the core technology of Industry 4.0 to combine the Internet, big data, Internet of Things, etc. with industrial production, create a flexible production chain, realize the interconnection of factories, consumers, products and information data, and gradually realize the production and service, is the inevitable direction of the furniture industry. As an important territory with the strongest interaction and experience in the home furnishing industry, soft furniture has brought new growth points to the furniture industry. Relevant statistics show that it is expected that by 2023, the global smart home market will reach 510 billion yuan. The huge market space of smart home has attracted major enterprises to enter the market. The digital transformation of Dongguan furniture industry is the epitome of it.

　　In the field of smart home, Mousse has long created a "tailor-made personal healthy sleep system" in the industry. The newly developed T10 intelligent healthy sleep system can monitor heart rate, snoring, and deep sleep through built-in sensors in the mattress. When users have sleep problems, the Legend26 smart healthy sleep system will tailor sleep solutions, provide psychological intervention guidance such as sleep music and CBTI, and realize closed-loop management of the smart healthy sleep ecosystem.

　　As one of the first companies in China to lay out smart homes with smart furniture as an entry point, Rongma Furniture’s Livable Home brand has become one of the first companies to enjoy the benefits of the smart home industry. Walking into the smart exhibition hall of Rongma Furniture, with the help of "artificial intelligence + Internet of Things" technology, customers issue instructions to artificial intelligence "Xiaole": open the viewing mode, the curtains in the house will automatically close, and the sofa will also be adjusted to a comfortable angle. Livable Home injects artificial intelligence and Internet of Things technology into sofas, beds and other furniture items to create a "smart home".

　　Looking at the digital transformation process of Dongguan furniture industry cluster, it can be seen that actively integrating into the development trend of smart home is a highlight of the digital transformation of Dongguan furniture industry. Based on its own smart platform, creating a cloud platform interface that can be opened to the outside world, connecting to Huawei Hongmeng system, and promoting the home to upgrade to the smart IoT healthy field will be an important direction for the digital transformation of the industrial cluster in the future.

　　Big data and artificial intelligence deeply empower the industry

　　Southern finance media reporter survey found that although walking in the forefront of digital transformation, and Dongguan furniture industry cluster development has become a general trend, but due to different enterprises production and operation mode, and the degree of embedding of the industrial chain is different, leading furniture enterprises did not output a set of unified applicable to the industry’s digital transformation integrated solutions, each enterprise’s digital system, equipment, direction, etc. are independently customized, the status quo of information islands is obvious, furniture industry cluster digital transformation still maintains the "go it alone" situation.

　　With the foundation of industrial software in the early years, Foshan Weishang Furniture, which has a certain Internet gene, has become a benchmark enterprise in the custom home furnishing industry, and actively provides digital intelligence transformation solutions for upstream and downstream enterprises in the industry, shaping a classic path of digital transformation for furniture enterprises. And in Dongguan, such a case is about to be born.

　　Walking into the small laboratory of Interface Technology Co., Ltd., located in Songshan Lake, several 6-axis industrial robots and automation equipment are conducting research and development and production of various products.

　　As a technology-based innovation enterprise engaged in supply-side technology development and channel expansion in the furniture industry, Interface Technology has accumulated a lot of technical experience in the use of industrial 6-axis robots for processing processes including sheet metal, square material, soft material milling, surface forming, and supporting tooling equipment. It is mainly used in single-piece to small-batch production, targeting the majority of small and medium-sized furniture enterprises.

　　"In terms of solid wood furniture, the technology can initially meet the customization needs of some high-end customers. At the same time, due to the establishment of product and process databases, the robot production process makes it possible to produce single pieces to small batches on demand," said Wang Huaiqun, head of the interface technology department.

　　At present, Interface Technology is actively seeking cooperation with small and medium-sized furniture enterprises in Dongguan. "We hope to build intelligent furniture production units that can empower small and medium-sized enterprises, truly solve the practical difficulties of small and medium-sized furniture enterprises in digital transformation, and launch intelligent manufacturing system solutions for the furniture industry that can be implemented." Jiang Wei, founder of the company, said.

　　In terms of solving the information islands between enterprises, Dongguan furniture enterprises actively use Huawei Cloud, Wewin big data and other industrial Internet platforms for digital transformation. Lin Guorong told the Southern Finance and Economics All Media reporter that he has established a separate technology company and joined hands with Huawei to create a "data Rubik’s Cube". "We hope to create a solution together with Huawei, and use a central platform to link different software and systems in the integration industry. Enterprises bring their own data to the station. As a peer-to-peer exchange, the platform will provide enterprises with corresponding user portrait analysis, logistics matching services based on big data, etc."

　　"Making big data and artificial intelligence technology deeply empower the industry is the core goal of the digital transformation of Dongguan’s furniture industry in the future," Lin Guorong said.

　　(Author: Zheng Kangxi, a trainee reporter for Southern Finance and Economics All Media, Editor: Yu Changhuan)

　　China News Service, Beijing, November 13 (Lang Lang) At around 3:00 a.m. on November 9, a knife attack by a Didi driver occurred in Nanjing, causing a dispute between the two sides due to passengers demanding that the driver speed up in the tunnel.

　　Didi said that after verifying the recording in the car of the order, it was found that the passenger asked the driver to speed during the journey; while the passenger said in an interview with the China News Service reporter that he did not ask the driver to speed, but only to be as fast as possible within the speed limit.

　　The injured passengers have responded to the incident online. Some netizens believe that the speed limit for crossing the tunnel is stipulated by law, and passengers are unreasonable; others question why the driver is carrying a knife?

　　The scene of the incident, pictures provided by the interviewees

　　Dispute 1: Did the passenger ask the driver to speed?

　　At around 1am on November 9, Mr. Wang called for an express train through "Didi Chuxing" on the Alipay terminal and went from Nanjing South Railway Station to his residence on Huju Road. He recalled to a reporter from China News Service that because he was in a hurry to go home and video with his girlfriend, when the car reached the Qingliangmen tunnel, "I saw that there was no car in the tunnel, so I asked the driver to drive quickly." The driver refused Mr. Wang on the grounds of speed limit. The two sides immediately quarreled.

　　According to Mr. Wang’s account, after the car drove out of the tunnel to near Hohai University, the driver asked Mr. Wang to get out of the car, and he also got out of the car. The two had a physical altercation. Mr. Wang pinned the driver to the ground, and the driver showed a knife and stabbed Mr. Wang in the right arm.

　　"The knife hit the bone, and blood spurted out immediately." Mr. Wang said that he couldn’t see where the other party took out the knife in the night, but only remembered that it was a black dagger about 10cm long.

　　Mr. Wang said that after he called the police, the driver scolded: "It’s good that you didn’t stab to death."

　　"He also said that he had just stabbed someone two days ago, and his uncle was the director of the Public Security Bureau." Mr. Wang said that after the incident, the driver Liu was taken away by the police and was criminally detained. Mr. Wang was sent to the hospital’s intensive care unit for a broken vein. Due to excessive blood loss (about 1000cc), he fainted three times before and after, and is currently recovering.

　　On the 12th, in an interview with China News Service, Didi replied to the matter, saying that the platform had verified the in-car recording of the order: the passenger asked the driver to speed during the journey, but after the driver refused, the two sides had an altercation, which then escalated into a physical conflict.

　　The reporter asked Mr. Wang many times "whether the driver is required to speed", and Mr. Wang always made it clear that he only asked the driver to drive faster within the speed limit, not to speed.

　　The driver was detained and unable to be interviewed.

　　Passengers receiving treatment, photos provided by interviewees

　　Dispute 2: Why do drivers carry knives? Does the platform allow it?

　　In addition to the "Rashomon" "whether speeding is required", there is another point of debate in this incident – why does the driver have a knife?

　　Screenshots of netizens’ comments

　　According to Didi’s disclosure, platform data shows that the driver of the Dongfeng Fengxing Jingyi X6, which Mr. Wang was riding, has obtained a driver’s license for online car-hailing in Nanjing, with a history of receiving more than 10,000 orders. Past passengers have rated it as five-star.

　　According to a report by Jiangsu media "Wusu.com", a staff member of Didi Chuxing said in an interview: The company expressly stipulates that drivers are not allowed to bring controlled knives on the bus. As for why drivers carry daggers with them, as of the press release, Didi has not responded positively.

　　In a reply to the media, Didi said: "After receiving the relevant information, the platform immediately set up an emergency response team. On the one hand, the staff was assigned to visit the hospital at noon to visit the injured, pay medical expenses in advance, and ensure that the injured were fully and timely treated. On the other hand, actively cooperate with the police to investigate the incident."

　　"Next, we will step up efforts to educate drivers on safety and platform rules, guide drivers and passengers to communicate in a civilized and rational manner, and resolve disputes through reasonable and legal channels," Didi said.

　　Didi: One wave has not been leveled, and the hitchhiker has just been back online.

　　This is not the first time something has happened to Didi.

　　On the evening of May 5, 2018, Li, a flight attendant in Zhengzhou, was killed while riding a Didi ride-hailing car. On August 24 of the same year, Zhao, a 20-year-old woman in Yueqing, Zhejiang, was killed while riding a Didi ride-hailing car. One hundred days, two lives, Didi announced that it would offline its ride-hailing business nationwide.

　　In March 2019, a Didi driver in Changde, Hunan Province, died after being stabbed more than 20 times by a passenger named Yang.

　　Not long ago, on November 6, Didi announced the trial operation plan of Didi Hitch: it will be launched in seven cities including Harbin and Beijing from November 20. The plan has also been adjusted due to the controversy over "whether it discriminates against women".

　　According to the Economic Daily, in July this year, Didi Chuxing held a hitch media communication meeting in Beijing. "I’m just afraid." Liu Qing, president of Didi Chuxing, admitted at the meeting that the team was "rather cowardly" and waited so long because he was afraid. "Who is so sure that they can launch a 100% safe product?"

Article | Interesting understanding of business, Li Wenqi

In addition to selling cars, what else can car companies sell? The answer may subvert your perception.

Recently, Huiding Insurance Brokerage Co., Ltd. (hereinafter referred to as "Huiding Insurance Brokerage") changed its corporate name to NIO Insurance Brokerage Co., Ltd. This move has attracted widespread attention because it is understood by industry insiders as the acceleration of NIO’s layout in the insurance sector.

Image credit: Qichacha

In recent years, not only NIO, but also the number of new energy vehicle companies that value the auto insurance market has gradually increased. Xiaopeng, Ideal, BYD and Tesla have all made plans.

Dong Hao, a veteran in the automotive industry, said that compared with traditional property insurance companies, new energy vehicle companies entering the new energy vehicle insurance market have more advantages in vehicle loss assessment and insurance premium estimation. Car companies can use this as a service breakthrough point and develop more high-profit after-car ecosystem services.

But just like the two sides of the coin, can the beautiful new energy auto insurance really help NIO develop the after-car ecosystem? And, how much support will the continuous cross-border NIO give to the auto insurance business after the launch of mobile phones, charging piles and other products? This may be the point that the current industry pays more attention to.

01. Crowded car insurance track, NIO is catching up

According to the latest statistics released by the Ministry of Public Security, as of the end of September 2023, the national new energy vehicle ownership reached 18.21 million, accounting for 5.5% of the car ownership. From the first to the third quarter of 2023, 5.198 million new energy vehicles were registered nationwide, an increase of 40% year-on-year, accounting for 28.5% of the new car registration.

There is no doubt that the outbreak of the new energy vehicle market has made new energy vehicle insurance a huge blue ocean market. Soochow Securities estimates that by 2025, the scale of new energy vehicle insurance premiums will reach 186.50 billion yuan, accounting for 17.9% of the total proportion of vehicle insurance premiums; by 2030, this scale will reach 454.10 billion yuan, accounting for 32.1% of the proportion of vehicle insurance premiums.

For this huge and promising market, a number of new energy vehicle companies have entered the market.

In July 2018, XPeng Motors established Guangzhou XPeng Motors Insurance Agency, which was later renamed Guangzhou Smart Choice Consulting Services Co., Ltd.; in 2020, Tesla Insurance Brokerage Co., Ltd. was established in Shanghai; Li Auto also fully acquired Yinjian Insurance Brokerage Co., Ltd. in June last year, and later changed its name to Beijing Ideal Insurance Brokerage Co., Ltd. At the 2022 Annual General Meeting, BYD Chairperson Wang Chuanfu said that BYD would enter the new energy automobile insurance industry.

There are many benefits to the deployment of new energy vehicles in the field of auto insurance – after obtaining the relevant insurance license, new energy vehicle companies can configure insurance through car owners to form a complete closed loop of car manufacturing, sales, and after-sales services, which is expected to become a new profit growth point for car companies.

In this context, it is logical for NIO to accelerate the layout of insurance. As early as the beginning of 2022, NIO invested in the establishment of NIO Insurance Brokerage Co., Ltd., with a registered capital of 50 million yuan; but unfortunately, until the company was cancelled, the company did not obtain relevant qualifications, let alone carry out related insurance business.

The reason is actually very simple. Insurance qualifications themselves are a scarce resource. In recent years, the insurance intermediary market has developed rapidly, but there are also pain points of uneven operation quality of intermediaries. Regulators have tightened the approval of insurance intermediary licenses.

But this did not discourage NIO’s determination to explore the insurance market, and instead looked for a "curve" entry route. In December 2022, Anhui NIO Data Technology Co., Ltd., controlled by NIO founder Li Bin, wholly invested in Huiding Insurance Brokerage, and then the original executives also withdrew one after another. It was not until September this year that Huiding Insurance Brokerage changed its name to NIO Insurance Brokerage, and NIO finally went official in its own insurance business.

Picture source: NIO Insurance Broker official website

For this acquisition, NIO did not disclose the specific transaction amount. But according to the market situation, it will not be too low. For example, when BYD transferred 100% equity of Yi’an Property Insurance this year, it spent 4 billion yuan to invest in insurance licenses with higher "gold content". In this regard, some market analysts said that the application for relevant license qualifications in the insurance industry is relatively long. NIO’s operation of Huiding Insurance Brokerage is behind "using money for time". It is naturally easier to buy chickens and lay eggs than to raise big chickens and then lay eggs.

"But the insurance industry is more complicated, and it’s not a one-day job." Zhang Xiang, a visiting professor at the Yellow River Institute of Science and Technology and an automotive industry research institute, said to "Interesting Business": "NIO obtains qualifications through acquisitions, and then opens up sales, insurance, after-sales and other links. For the insurance business, it can deeply cultivate the precise customer group, which is a big advantage. But it should be noted that new energy vehicle insurance is not a profitable business at the moment."

02. Is there enough "ammunition"?

The license qualification is grafted through the "banknote ability", and the subsequent challenges that NIO has to face are the financial ability, technical ability and network layout. No matter what, stronger "banknote ability" is required. "Especially the financial ability level is a big test for new energy vehicle companies," said Mr. Fei, an industry insider.

Because behind the blue ocean of new energy vehicle insurance, there is a hidden high compensation pressure and the resulting general loss. Shenwan Hongyuan Group’s research report shows that the current new energy vehicle insurance compensation rate generally exceeds 85%, and the industry is facing greater underwriting loss pressure.

Zeng Yi, general manager of China Pacific Insurance Property and Casualty Insurance, has also publicly stated that the insurance rate of new energy vehicles is nearly double that of fuel vehicles, and the year-on-year increase in automobile travel in the first half of this year has posed a certain pressure on the underwriting cost of new energy vehicles. China Pacific Insurance’s 2022 interim results show that the new energy vehicle insurance premium grew rapidly in the first half of last year, accounting for 6.6%. However, the new energy vehicles underwritten by Pacific Insurance Property and Casualty Insurance are still losing money.

A set of data obtained by the reporter of the Economic Observer also shows that the insurance rate and compensation rate of new energy vehicles are at a high level. In the first half of 2023, the number of new energy vehicle insurance settled compensation cases increased by 1021.9% year-on-year, and the average compensation for resolved cases was 5801 yuan, an increase of 764 yuan compared with the same period in 2022. However, the average insurance premium for new energy vehicle insurance was only 4081 yuan, a decrease of 47 yuan compared with 2022.

All kinds of phenomena have confirmed that the new energy compensation amount is currently much higher than the insurance premium income. This also means that all players entering the new energy vehicle insurance field must prepare sufficient ammunition. So, is NIO ready?

At the end of August this year, NIO-SW (09866) announced its unaudited financial results for the second quarter ended in the first half of 2023. Data show that NIO’s revenue in the second quarter of 2023 was 8.7717 billion yuan, a year-on-year decrease of 14.8%; gross profit was 870 billion yuan, a year-on-year decrease of 93.5%; net loss was 6.0558 billion yuan, an increase of 119.6%; adjusted net loss was 5.4457 billion yuan, an increase of 140.2%.

Image source: Screenshot of earnings report

From the perspective of the general environment, new car-making forces have shown varying degrees of losses; in the first half of this year, Li Auto’s total revenue was 47.44 billion yuan, and its net loss was 3.24 billion yuan. In comparison, NIO’s loss situation is much more serious.

According to the annual report of NIO-SW (09866), between 2018 and 2022, although NIO’s total revenue is growing, it has been in a state of loss. The losses in the five years were 23.328 billion yuan, 11.413 billion yuan, 5.3041 billion yuan, 4.02 billion yuan and 144.37 yuan. By the first half of this year, NIO’s net loss has exceeded 10 billion yuan, which is 10.926 billion yuan.

What can be seen is that in the context of the recovery of the new energy vehicle market in the first half of this year, NIO still maintained a situation where revenue and gross profit continued to decline and losses continued to expand. Whether it is a single quarter or the entire first half of the year, NIO’s net profit attributable to the parent set a record low for the same period in history.

In terms of delivery, NIO’s situation is also not optimistic. According to public data, NIO delivered 15,641 vehicles in September this year, an increase of 43.8% year-on-year and a decrease of 20% month-on-month. It was the most severe decline in the sales list of new energy vehicles in September.

Revenue decline, delivery decline, but NIO did not reduce investment. According to the financial report data, in the second quarter of this year, NIO’s development investment reached 3.34 billion yuan, close to Tesla’s 3.98 billion yuan, but significantly higher than the ideal 2.43 billion yuan and XPeng Motors 1.37 billion yuan. Statistics can be seen from the previous data, starting from the fourth quarter of 2022, NIO’s R & D expenses have exceeded 3 billion yuan for three consecutive quarters.

It is equivalent to saying that behind NIO’s bet on auto insurance, NIO’s own financial performance and delivery are not optimistic. In the future, whether it can provide support at the auto insurance level depends on the importance of the business in the NIO ecosystem.

"If NIO’s main business is doing very well and can give greater support to the auto insurance business, then overall, auto insurance must be the icing on the cake for NIO," Mr. Fei added: "On the contrary, if its own losses increase, coupled with the high underwriting pressure of auto insurance, the pressure on NIO will be relatively large in the short term."

03. Crossing the border all the way, what is NIO in a hurry?

To the outside world, NIO is less and less like a car company. This indifference is mainly due to NIO’s full range of crossovers – mobile phones, charging stations and now car insurance business.

In June this year, it was reported that the NIO mobile phone had passed the MIIT radio approval; as expected, on September 21, NIO Innovation and Technology Day, NIO released the first ship mobile phone, NIO Phone. According to Li Bin, "NIO makes mobile phones not because mobile phone companies cross the border into the automotive industry, nor do they rely on mobile phones to make money, but NIO users need a mobile phone that is undoubtedly linked to NIO."

But in the eyes of many users, this is not the case. On social platforms, many netizens complained that "it is easier to adapt NIO to more models. The probability of buying another mobile phone alone is not high, and buying a car and giving a mobile phone is almost the same." "It is obviously something that can be done by an app, but you have to develop a mobile phone!" The topic of who the NIO mobile phone is sold to has also triggered widespread discussion.

Image source: Weibo

In addition to the heavy injection of mobile phones, NIO also continues to invest in the field of supplementary energy. By the end of 2022, NIO had 1,315 replacement stations; in early 2023, Li Bin put down his big talk and wanted to build another 1,000 replacement stations. According to NIO’s official data, as of October 20, NIO has arranged a total of 1,969 replacement stations, 3,252 charging stations, and 936,544 third-party charging piles.

Industry analyst Yu Shengmei said that the current construction of power stations is fragmented and chaotic, and the industry is expected to enter the fast lane after the establishment of the national standard. Whoever has the first-mover advantage will be able to enjoy the dividends first.

But at present, it is difficult for the NIO power exchange model to rely on itself to make profits in the short term. According to the calculation of Oriental Securities, generally speaking, the power station reaches break-even, and the utilization rate is about 20% or more, that is, each station needs to serve 88 times a day to barely make a loss. According to NIO President Shen Fei, the break-even line of NIO power station is about 50-60 orders a day, and the current average daily order volume of NIO power station is 35-36 orders.

From a product perspective, this is indeed a good story, but so far, this good story has not brought much benefit in business practice.

As early as 2013, Tesla had experimented with replacing power stations in the United States, but was troubled by factors such as construction costs and profitability, and finally chose to give up. Similarly, behind the replacement of power by NIO owners is the reality that NIO "keeps changing power and loses money". Because the cost of adding replacement stations is extremely high, it is a typical asset-heavy business.

The data shows that the cost of the first generation of NIO substation is about 250-3 million, about 205 are established, and the cost of the second generation substation is 1.50 million yuan, and the number is 1100. According to this data, NIO has roughly invested more than 5 billion yuan in the substation.

Since June this year, NIO’s third-generation power station has maintained a construction speed of 120-150 seats per month. If the cost of the second-generation power station is estimated, NIO’s investment in the construction of power stations in 2023 is expected to be more than 1.50 billion yuan.

In addition to power station equipment, battery storage, battery depreciation, etc., it also requires personnel costs, site expenses, and commercial electricity bills. This is equivalent to saying that NIO has invested more than 10 billion yuan in power station replacement.

Moreover, this business, which was originally intended to be blessed by NIO’s "service", has also become a point of complaint for car owners. In April this year, NIO made adjustments to user rights and interests. Since June 1, the number of free power changes for the first owners of some models has been adjusted to 4 times per month. Previously, this right corresponded to 4-6 free power changes per month according to whether charging piles were installed.

According to NIO’s explanation, free power exchanges will gradually decline until they are fully charged on demand. From a business perspective, this is understandable, but at the same time, such adjustments also make NIO, which has always won by "service", more passive.

Auto insurance, mobile phones, and energy supplementation systems are all major projects worth tens of billions of dollars. At present, whether it is just starting auto insurance, mobile phones that have already launched products, or power stations that have invested tens of billions of dollars, they have not brought profits to NIO. Instead, they are likely to become a drag on NIO’s business.

Standing at the moment, the bigger question from the outside world is, what should NIO, which is gradually tearing off the "service" label, use to impress users?

As one of the three giants of the "new car manufacturing forces", NIO’s story is very good, but returning to the essence of business, performance is the basic set. Especially, as the industry competition intensifies, NIO, which has been expanding its own boundaries, and its own performance pressure, may become more and more difficult.

References:

1. Qubit, "Reassessing NIO, It’s Time"

2. International Finance News, "Cars can’t be sold," Loss King "NIO wants to make mobile phones across borders"

3. Finance and Economics Eleven, "While making large losses and investing heavily, what does NIO think?"

4. Shanghai Securities News, "Is NIO going to sell insurance?"

There is such a game, there is no competition, no level, no task, only purely focused on "beauty and enjoyment" itself.

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Don’t think you’re talking about the popular Traveling Frog these days – these comments are two feature games given by professional gamers to the domestic independent team Tag Design: "Mortise and Mortise" and "Folding Fan".

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Unlike those games that emphasize competition, "Mortise and Mortise" and "Folding Fan" are popular science products with the theme of introducing traditional Chinese culture and craftsmanship. Players only need to swipe or click from start to finish, and the operation cannot be simpler. However, players can get a lot of satisfaction: "Mortise and Mortise" and "Folding Fan" provide detailed 3D models for each handicraft for users to watch and split 360 degrees; in simple swiping and clicking, players can learn all the structural characteristics, production process and related history of "Mortise and Mortise" and "Folding Fan"; in "Folding Fan", they can even participate in the 16 steps from choosing bamboo to making a fan.

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"Mortise and tenon" game screen

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"Folding Fan" game screen

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That’s right, "Mortise and Mortise" and "Folding Fan" are both functional games, and they are online game types that have gradually emerged in China since this year. When many people regard online games as "monsters", functional games can often make people "treat each other differently" because they not only make people realize the value of "education and entertainment" again, but also make games play a role in cultural protection, technological innovation and other fields.

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Functional games drive the transformation of the game industry

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If traditional online games emphasize entertainment, then functional games refer to those categories of games whose main purpose is to solve real social and industrial problems. Therefore, if traditional entertainment games and functional games are divided, even if they do not emphasize competition, "Travel Frog" still belongs to the former, while "Mortise and Mortise" and "Folding Fan" belong to the latter.

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Since the beginning of this year, the term "functional game" has begun to enter people’s field of vision, which is not unrelated to a message released by Tencent at the beginning of the year: Tencent announced that it will carry out a comprehensive layout of functional games from 2018, take functional games as one of the business Strategy and Development Direction, and plan to launch five categories of functional game products such as traditional culture, cutting-edge exploration, scientific exercise, scientific popularization, and parent-child interaction. Systematically explore and explore the positive social value of online games.

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In fact, "functional games", which are still a new term in China, have been relatively mature in the international development. Functional games are playing an increasingly important role in different fields. In layman’s terms, functional games can become a new medium for people to receive knowledge and skills through entertaining and entertaining, opening up new perspectives for people in terms of shortening the learning curve, accelerating the dissemination of professional knowledge, innovating scientific research models, improving corporate productivity and solving social problems.

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From the perspective of the international development of functional games, governments, enterprises and institutions in many developed countries and regions have regarded them as important skills training tools: the functional game "US Army" is used by the US Department of Defense for recruitment; "Emergency Commander" is used for drills for emergency disaster relief; "Code Orange" is used to train doctors to deal with mass casualty incidents; "Virtual Training Bank" provides financial analysis and risk management training for banks; functional game "Gabarello" for therapeutic purposes is used by Zurich Children’s Hospital for rehabilitation of brain injury patients….

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Industry insiders believe that with the wide application of functional games, functional games are driving the transformation of the game industry. In the United States, functional games have been in the forefront of the world in various market segments such as corporate training and education since 1994. In the UK, functional games have become a professional discipline and entered institutions of higher learning. In Switzerland, about 30% of game designers are engaged in the field of functional game design.

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Look, these are functional games.

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Compared with the foreign functional game market, the development and promotion of functional games in China is in the ascendant. Many people don’t even know what a "functional game" is. In this regard, the relevant departments of Tencent listed several functional games for reporters to illustrate the rich connotation of functional games:

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In terms of traditional culture and protection, the two functional games "Mortise and Mortise" and "Folding Fan" can make people more intuitively understand the subtlety of traditional skills; and in the function of "education and fun", the ingenious ideas of functional game developers are equally amazing.

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For example, "Moana" developed by the Belgian team Fishing Cactus is an educational functional game that specializes in exercising users’ typing skills. Players will play a little girl riding a fox in the game and go on an adventure in a 2.5D origami world. In different level scenarios such as snow, mountains, forests, etc., players need to use the special method of "typing" to fight monsters and solve puzzles. "Moana" is based on spelling and includes 8 different languages including Chinese, English, and French. The spelling of characters in the game will also be redesigned according to the setting language. Whether you are a typist or a beginner, you can find fun in the game.

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"Moana" game screen

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Also, "Euclidean Geometry" developed by the Russian team Horis is a mathematical game that uses rulers to draw and solve geometric puzzles. In the game, players need to make vertical lines, tangents, angle bisectors, circles and other geometric shapes on the plane through the rational use of drawing tools, and complete the level challenge in rigorous geometric logic. At the same time, players can continuously optimize the design to get the most elegant and concise solution in as few steps as possible. Overall, players can not only appreciate the beauty of geometry in the game, but also improve their logical thinking ability. Therefore, whether students or players who have left school can feel the mystery of geometry in the game.

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"European Geometry" game screen

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Tencent also revealed that in their functional game development plan, including the cooperation of Lego, they will launch functional games related to Lego building blocks through complementary advantages, so that more people, including parents and children, can learn while playing. Such games can not only educate and entertain, but also facilitate parent-child interaction.

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Functional games are a big industry

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In fact, the reason why functional games have developed rapidly in the international market is not unrelated to the economic value they contain. Tencent Research Institute has compiled statistics on more than 130 functional games and found that the combination of education and games is the most extensive, accounting for about 43% of the total, of which more than half of functional game products are used in primary and secondary education; about 19% of functional games are used in enterprises and business; medical functional games are ranked third, accounting for more than 16%. Among them, children’s medical games are the main ones, with content ranging from knowledge popularization to disease treatment. In addition to the above three fields, functional games are also widely used in different fields such as military, culture, and social management, involving all aspects of social life.

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The "cross-border" collection of games and different industries has generated huge economic value. Some institutions predict that games with cross-border applications will develop at a compound annual growth rate of 16.38% between 2015 and 2020, and the market size will reach 5.45 billion US dollars. In contrast, the development and application of functional games in our country is still in its infancy and needs to be vigorously developed.

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It is worth noting that the development of functional games is not only the task or interest of game companies. In recent years, the cross-border development of some enterprises has also further revealed the value of functional games. For example, IBM, Johnson & Johnson, Cisco and other companies have launched their own functional games, not only using them to train employees, but also combining games with their main business. For example, IBM has widely used games in internal businesses such as sales and Customer relationship operations, business information and data analytics; at the same time, in 2010, it first launched the cross-border game "CityOne" (literal translation: a city), which was designed, developed and produced by itself, to find urban planning solutions through role-playing. In addition, IBM has also integrated various new technologies developed by itself, such as process management, cloud computing, and collaboration, into the game, allowing players to learn how to use new technologies to help cities become smarter. After the launch of "CityOne", more than 8,000 people participated in the pre-registration process.

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Industry insiders therefore propose that the development of functional games is worthy of "admiration" from the outside world for the value of online games. For a long time, the domestic game industry has been burdened with huge social pressure, and traditional entertainment games have been controversial. But these views should not affect the development of functional games. In this context, it is necessary to improve the motivation and enthusiasm of industry and academia to develop functional games at the policy level, develop high-quality content, and then drive the whole society to gradually raise awareness of functional games and gradually accept their application in all walks of life.

Preface · Thousands of differences　

An eminent monk, known as Master Kuan Lin, gave Wang Jianlin a verse when he was 92 years old: "When the madness rests, the phantom body melts, and the dust inside and outside is empty. The cave is clear and clear, and there are no obstacles, and there are thousands of differences."

That was in 1997, when Wang Jianlin, his Wanda Group, and his Wanda football team were both thriving.

At this time, Xu Jiayin had just founded Evergrande Group not long ago. Oh, at that time, it could not be called a group. At that time, Evergrande did not know whether tomorrow would be good or bad, and whether the rivers and lakes would be deep or shallow.

Wang Jianlin, who left the football circle, has finally come back. At this time, Evergrande has been the overlord of the Chinese Super League for many years.

In the past 20 years, things have changed, but the phrase "thousands of differences make sense at once" is not outdated – two people, the road they have traveled, thousands of differences, the style of two people, thousands of differences, and the two people entered the era of Chinese football. There were also thousands of differences, but now it is just: the same goal.

　One Genhong Miao is starting at the bottom　

In January 2018, at an internal meeting of Evergrande Group, Xu Jiayin talked about his childhood experience when he mentioned why he wanted "targeted poverty alleviation":

"When I was 1 year and 3 months old, my mother got sick and had no money or place to see a doctor. I just left like this, and I became half an orphan."

"When I was in middle school, I was far from home. I carried a basket to school every week. The basket contained a black nest made of sweet potatoes and sweet potato noodles, and a small bottle with a little salt, a few drops of sesame oil, and a little scallion in it. This is my weekly ration. Three meals a day, one sweet potato, one nest, and a bowl of salt water for each meal. In summer, it is very hot, and the black nest grows hairy in half a day. Wash it and continue to eat."

Xu Jiayin said that in today’s Wumeng Mountain District, he saw the poverty of his childhood. "There is no road, no water, no electricity," and several families live scattered in a few kilometers of ravines. Each household is a dilapidated thatched hut, relying on the little hillside in front of the house and behind the house to eat from the sky.

Wang Jianlin had never tasted such pain. Wang Jianlin joined the army at the age of 15. In 1970, at the age of 15, Wang Jianlin was the youngest soldier in the Fourth Frontier Defense Regiment of the Jilin Provincial Military Region. Before joining the army, Wang Jianlin graduated from high school and spent half a year living in a farm in Cangxi County, Sichuan Province, which is known as the hometown of Sydney.

In November 1970, the whole army carried out "camping training", icy and snowy, along the original route of Linhai Snow Plains where Yang Zirong destroyed mountain sculptures, Wang Jianlin began his first difficult journey in life.

The army gave him special care, not letting him carry a rifle, only giving him a pistol. Despite this, with 10 kilograms of equipment on his back, Wang Jianlin had to walk 40 kilometers on the snowy road every day. This was too hard for a 15-year-old child, but Wang Jianlin did not remember this hard work, but remembered a secret taught to him by the monitor.

During that march, during a meal, the squad leader told him a trick to eat more and be full: don’t pack too much when you pack a meal for the first time, and pack it again after a few bites, and you will be full the second time! With this strange move, Wang Jianlin finally persisted. At the end of the training, only more than 400 people in the team of more than 1,000 people were not left behind, and Wang Jianlin became one of the 40%.

Because of this cleverness and persistence, by the age of 28, Wang Jianlin had become the youngest regiment cadre in the army, but in 1986, in response to the country’s call for "million disarmament", 32-year-old Wang Jianlin bid farewell to his military career and 17 years of military life, leaving a deep imprint on Wang Jianlin.

Later, after Wang Jianlin became a businessperson, he mentioned this experience to his subordinates more than once, and was especially willing to proudly tell the secret that the monitor taught him to eat, "He regarded me as a brother." When Wang Jianlin became the head of the Wanda Group family, he also liked to talk about the word "brother": "My concept of happiness is very simple, and one of them is to let my brothers have food and make money."

As a metaphor, Xu Jiayin is the male version of Ashin in the Japanese drama "The Story of Ashin", while Wang Jianlin’s story is similar to "Days Related to Youth".

But they are all workaholics, and they are not young, but they have not seen any signs of that slack.

In 2000, Wanda quit the football circle. Five years later, in 2005, Wang Jianlin, who got out of the football circle, expanded his business to 20 billion yuan. The former green boss was not satisfied: "I will not be satisfied with 50 billion yuan. Once I achieve 100 billion yuan, I can consider retiring."

But now Wanda Group’s assets exceed 700 billion, and Wang Jianlin’s retirement is still a long way off.

And what about Xu Jiayin? One year, he went to Europe for more than ten days, which he described as the only vacation in so many years. As soon as Evergrande employees joined the company, they knew that overtime was normal and inevitable in this company, because that was what the boss did.

Xu Jiayin rarely takes weekends off, working more than 90 hours a week, and still maintains the habit of working every day until the early morning. Evergrande executives work an average of more than 80 hours a week, and mid-level cadres work an average of more than 60 hours a week. Xu Jiayin, who came from a poor background, attributes his success to hard work. "Without it, I can’t do anything."

When he was in Henan Wuyang Iron and Steel Company, Xu Jiayin didn’t take a day off for ten years. In the first ten years of his business, Xu Jiayin often got off work at one o’clock in the middle of the night. For fear of affecting his family’s rest, he lay on the sofa in the living room until 4 am to go to work.

Compared with Xu Jiayin, Wang Jianlin emphasizes regularity: he must go to bed at 11 o’clock every night, he must get up at 6 o’clock in the morning, he must arrive at the company at 7:10, and then, he will go to work. After going home, he will make a few phone calls. This call is to communicate with several core key members of his team about the situation of the day, and then, after finishing these, he will read the "Evening News", wash and sleep. If the weather is good in the morning, walk, take a walk, and if the weather is bad, it will be avoided.

The work styles of the two are similar, but there are huge differences. Xu Jiayin was born in poverty and worked hard from the bottom step by step. Now he still retains the style of "who called you poor, and you are on the top". What about Wang Jianlin? Wang Jianlin’s father is an old Red Army member of the Red Fourth Front Army. Wang Jianlin joined the army for 17 years and changed his career as a cadre of the Fourth Regiment of the Frontier Defense of the Jilin Provincial Military Region; he has two years of experience as a civil servant as the director of the People’s Government Office of Xigang District, Dalian… All these things make Wang Jianlin seem "well-connected".

From the early experience, Wang Jianlin was a product within the system, while Xu Jiayin had more traces outside the system.

　Second, you hate me for being born late, I hate you for being born early　

Wang Anyi said that for a person, there are always two faces that are hard to forget – the face of his mother and the face of the city, which are the first memories. The era of Wanda football is the age of enlightenment for professional football in China, just as Teresa Teng is to pop and Cui Jian is to rock. Enlightenment things are very different, but one thing remains constant – the world that suddenly opened up in the era of enlightenment, the enthusiasm that was suddenly aroused, like a flood, cannot be stopped.

Therefore, for many football fans, especially those in Dalian, Wanda is a love of enlightenment.

And for many fans, especially Hengda fans, the same is true of Hengda’s role.

Dalian Wanda used to be a winning teacher, and players’ income came more from bonuses. Wang Jianlin’s famous saying was: "If you win the game, the bonus will be doubled!" Wanda sometimes won the prize as high as 800,000, and even reached 1 million in a game, which was a sky-high price at that time.

For veteran players like Xu Hong and Han Wenhai, they can also be assigned to the "welfare housing" built by Wanda Group. After 1997, the Dalian Wanda team spent more than 50 million yuan a year, which is an astonishing figure. From this point of view, it is not an exaggeration to call Wang Jianlin one of the founders of "Jinyuan Football".

Of course, the 50 million yuan spent is also worth it. The year of investing in football is also the era when Dalian Wanda has a solid foundation in Dalian, because Dalian Wanda has won numerous honors for Dalian with this business card, and Dalian Wanda has also been invincible in the Dalian real estate market with this football business card.

For example, the Changchun community where Xu Hong and others lived was once enthusiastically sought after by Dalian people. In addition to the quality of the house itself, the common thought of many people who bought a house was "We live in the same community as Xu Hong"!

Wang Jianlin is a smart businessperson, and his huge investment in football has paid off. In 1998, a well-known research company in Beijing conducted a market survey of Wanda’s popularity in eight cities across the country. The survey subjects ranged in age from 8 to 70. The results showed that Wanda Group’s popularity ranked among the top five in the country, with the same popularity as Hongta Group and Haier Group.

Therefore, Wang Jianlin’s annual investment of more than 50 million yuan may be a "bubble" for football, but it is a perfect investment for his own business.

For Evergrande, investing in football has brought them a similar brand effect, which goes without saying.

If we want to summarize, there are too many similarities between Wanda and Hengda in the glory of football. When Wanda entered football, it was the beginning of Chinese professional football, which was a golden age; after Hengda bottom fishing entered Chinese football, it also ushered in a "new era" of Chinese football.

However, when Wanda was about to enter the lowest point of Chinese football, it took the lead in smelling the smell and decisively withdrew, and now Evergrande is also in the period of adjustment and consolidation after their high speed.

　One branch alone is not spring　

In 2011, Wanda Group announced its return to Chinese football in the "great situation" of Chinese football.

Looking back now, from that day on, the "confrontation" between Wanda and Evergrande began.

On July 2nd, this day, Hengda announced a news, they signed the MVP Conca of the Bundesliga League with a transfer fee of 10 million US dollars, Conca’s annual salary 7 million US dollars, after signing Conca, Hengda high-profile claims, Hengda finally brought world-class stars to Chinese football.

Naturally, the next day in the media, the news of Conca’s joining was overwhelming, and that day, July 3, another major event took place in Chinese football, that is, Wang Jianlin’s Wanda Group returned to Chinese football.

One south and one north, two major events in Chinese football, but what many people don’t know is that the process of signing Kong Card was arduous and tortuous, and the timing of announcing Kong Card’s joining was carefully arranged by Evergrande, because the date they chose was to get ahead of Wanda, no more, no less, just one day.

Evergrande is difficult to tolerate themselves in a lonely period, Hengda will always be in the trend of the wave, if there are competitors, then we must weaken the influence of the opponent, sure enough, if not for the joining of Kong Ka, in those days, football news will become Wanda’s world.

After the end of the Chinese Super League in 2011, the awards ceremony of the Chinese Super League was held in Guangzhou. Guangzhou Evergrande won 5 of the 10 awards including the league championship, the Golden Boot Award, the Golden Globe Award, the Best Division and the Most Social responsibility Club Award, becoming the biggest winner of the night.

However, after the award ceremony, the big winner said with disappointment: "We came out so much for the award ceremony, but we sold Wanda advertising." Because the award ceremony left Wanda enough time, and Wanda sent a spokesperson Shi Xueqing to speak on stage, while Guangzhou Evergrande, the league champion, did not have such treatment.

And that award ceremony was finally broadcast live on the CCTV comprehensive channel!

After returning to Chinese football in 2011 and taking over Dalian Football in 2018, Wanda’s package of plans to support Chinese football includes the following things:

First, Wanda became the title dealer of the Chinese Super League and raised the title fee to a record high; second, Wanda formed the overseas team of Hope Stars and sent a large number of post-95s to Europe; third, this is also the most controversial point, that is, a month before the start of the World Cup 20 in Brazil, Gao Hongbo was forcibly replaced with Camacho.

In retrospect, Wanda did indeed give a lot of support during the trough period after the anti-gambling and anti-crime crackdown in Chinese football, which made the gradually impoverished Chinese Football Association and the Chinese Super League go through the most difficult period. When Wanda ended the sponsorship period in 2014, Chinese football has obviously recovered, and various commercial sponsorships have come in one after another, and they have all improved on the basis of Wanda’s period. These are all irreducible historical contributions.

But the overall weakness of the national brand team makes Wanda’s plans time-consuming and thankless, and in the past seven years, Evergrande has established its own Evergrande dynasty by virtue of its achievements in the Chinese Super League and the AFC Champions League – the Chinese Super League has won seven consecutive championships, and the AFC Champions League has won twice.

Wanda finally understood a truth, only in the local base, Wanda’s every step in Chinese football is not a castle in the air, it will not be pointless, and Hengda arm-wrestling, why not? Why not? After all, the current Dalian side is already an upright Chinese Super League vassal.

It is foreseeable that after Wanda re-enters the foreground, it will bring great shocks to the Chinese Super League, and at this time, Evergrande is precisely in the moment of shrinking the front and adjusting and consolidating.

Xu Jiayin finally met Wang Jianlin in the field of professional football in China. This kind of excitement has been awaited by many fans for a long time.

　　"Investor Network" Wen Xia Jing　

　　According to the latest operating data released by NIO (NYSE: NIO), the company delivered 20,060 vehicles from January to March this year, an increase of 423% year-on-year, and successfully achieved the goal of achieving 20,000 deliveries in Quarter 1 predicted by Li Bin, founder, chairperson and CEO of NIO. However, at the same time as the good news, NIO encountered the embarrassment of chip shortage: the NIO foundry Hefei Jianghuai Manufacturing Plant stopped production for 5 days, affecting the production of at least 500-1000 vehicles.

　　Li Bin admitted that due to the impact of the supply chain (chips and batteries), NIO’s monthly production capacity of 7,500 vehicles is also under pressure.

　　It is worth noting that NIO, one of China’s "three heroes of new energy vehicle manufacturing", is still in a state of heavy losses. NIO’s current situation is that, on the one hand, the production capacity is constrained by the shortage of chips, and the operating pressure is overwhelmed by the haze; on the other hand, the car manufacturing track is already crowded with Internet bosses who "show their muscles", and the competition drama can be imagined.　

　　NIO, whose share price once fell to the "delisting red line" of $1, has just "come back to life" from the brink of danger, but the pressure it faces has not eased. Under the dilemma of "internal and external troubles", how can Li Bin and NIO break through the dilemma of "profitability difficulty"?

　　Under the gamble, the gross profit margin turned positive, and the huge loss was still "leading" the new car-making forces　

　　NIO is the company with the highest monthly delivery volume of "new car forces". In February this year, its delivery volume was 5578 vehicles, which was 2.4 times that of Li Auto, which is also a new car force, and 2.5 times that of XPeng Motors. It ranked among the top ten luxury car sales and once surpassed luxury car companies such as Land Rover and Porsche.

　　However, before April 2020, NIO was on the verge of "dying" due to its high debt.

　　As we all know, the delivery volume of the automobile industry is equal to the sales volume. It stands to reason that as the company with the largest monthly sales volume, the profit should be the largest. But this is not the case. Although NIO leads China’s new energy vehicle industry by its own sales and is dubbed "China Tesla", the continuous loss and the reality of "selling one at a loss" once caused NIO’s share price to fall to the "delisting red line" of $1.

　　Just as Li Bin and his NIO were struggling, the Hefei Municipal Government and the 7 billion reached a gambling agreement with NIO.

　　The agreement stipulates that NIO will invest in the acquisition and establishment of NIO China, requiring NIO China to generate revenue of 14.80 billion yuan in 2020, 120 billion yuan in 2024, and list 6-8 new models, and achieve total revenue of 420 billion yuan from 2020 to 2025.

　　The money brought by this bet saved NIO in times of crisis, but this step-by-step implementation and batch arrival requirements and agreements also made Li Bin and his NIO dare not slack in the slightest.

　　From the financial report released by NIO, there are many bright spots in NIO’s financial report in 2020. NIO’s total revenue in 2020 reached 16.258 billion (RMB, the same below), an increase of 107.8% year-on-year; among them, the gross profit margin rose from -7.4% in Quarter 1 to 17.2% in the fourth quarter, and the annual gross profit margin for the whole year was 11.5%. This is the first time that NIO has turned positive after being listed for three years.

　　But even so, NIO’s full-year net loss in 2020 was as high as 5.304 billion, and the 11.295 billion of losses compared to 2019 was significantly narrowed, but it was still a reality that NIO was not profitable.

　　Compared with Li Auto, which is the three heroes of China’s new car manufacturing forces, Li Auto’s annual revenue in 2020 was 9.461 billion, an increase of 3231.33% year-on-year, and the loss was only 152 million; NIO’s revenue was 1.3 times the ideal, but the loss was 35 times!

　　Under the background of obtaining local government investment 7 billion, NIO has achieved a significant increase in revenue and a positive gross profit margin, which is a seemingly bright "answer sheet". In theory, NIO can increase profits as long as it increases delivery, thereby reducing losses and achieving profitability. However, judging from NIO’s current core shortage dilemma and further planning in 2021, the outlook for NIO to achieve profitability is not optimistic.

　　Is the high cost pushing the "power exchange model" 42.50 billion cash flow enough to burn?　

　　In early March, NIO announced that it currently has cash reserves 42.45 billion (including cash and cash equivalents, restricted currency cash, and short-term investments).

　　Even if the funds are abundant, the amount of money Li Bin plans to "burn" is not small, judging from the new layout for 2021 announced by Li Bin at the earnings conference.

　　Li Bin declared that in 2021, NIO plans to "improve the efficiency of the system", specifically, from research and development, sales, and the establishment of replacement stations and the improvement of the charging and replacement mode. Li Bin said that he plans to invest 5 billion research and development expenses in 2021, and build 20 new NIO centers and 120 NIO spaces; in addition, NIO still insists on the "replacement mode" different from Tesla’s charging mode, and plans to build more than 500 replacement stations and improve the charging mode in China in 2021, establishing 600 supercharging stations and 15,000 destination charging piles.

　　Industry commentator Zhang Shule believes that NIO’s power exchange model has a bright future. "Although the power exchange model is different from Tesla’s charging model, it has new opportunities."

　　Zhang Shule said that because the benefits of the power exchange model are obvious, its charging speed is fast, and it can form an efficient turnaround rate of car "charging", which is far more convenient than the use of charging piles for electric vehicles to occupy parking spaces. It is also more suitable for the promotion of the core areas where parking spaces are tight and electric vehicle charging demand is high. "At present, the state has also increased its support in the field of new energy vehicles, and electric vehicles have entered a rapid popularization stage in China, so the power exchange model has a strong application prospect."　

　　Although the outlook for the power swap model is promising, NIO’s path to profitability remains uncertain.

　　Zhang Xiang, a member of MIIT’s new industrialization capacity building "Changfeng" plan, a think tank for new energy and intelligent connected automobile industry experts, told Investor Network that NIO’s power exchange model is the core competitiveness of the future. Because it provides users with new experiences and choices.

　　"But the current power exchange is a loss, and it will still be in a state of loss in the next few years." Zhang Xiang believes that the main reason why NIO cannot make a profit is that the construction investment of the replacement station is too large, and the lack of NIO’s inventory makes the utilization rate of the replacement station not high enough to subsidize the investment profitably. Zhang Xiang said, "NIO can only sell cars if it wants to make a profit. By raising the price of vehicles, it can obtain high profits to make up for the loss."

　　NIO’s goals are lofty and its vision is perfect, but the reality is very skinny: on the one hand, it does not follow the popular route and adheres to the high-end market; on the other hand, in the face of a large number of losses, it also increases investment and insists on the development of the power replacement model.

　　This could be said to be a dilemma for NIO. Although NIO’s losses narrowed in 2020, the main reason was the reduction in R & D investment and the construction of power station stations in 2020. If NIO wanted to make money, it had to "sell cars" in large quantities, but the cars it sold were only for the high-end market.

　　Investor Network learned from NIO’s official website that the price of NIO’s models is more than 300,000 yuan. According to data from China Automotive Industry, NIO’s SUV ES8 surpassed BMW X5 for the first time in Shanghai in January 2021, becoming the first among medium and large SUV vehicles above 400,000. It can be said that as a car company, NIO can already rival traditional luxury car manufacturers such as "BBA (BMW, Mercedes-Benz and Audi) ".

　　However, this "burning money" dilemma of "selling while losing money" makes it all the more difficult for NIO to turn a profit.

　　Technology bosses get together to build cars NIO comparative advantage　

　　The next trend in the internet is cars.

　　According to the "New Energy Vehicle Industry Development Plan (2021-2035) " document, the sales of new energy vehicles will reach 20% of the total sales of new cars in 2025. According to the statistics of the China Association of Automobile Manufacturers in early January, the cumulative sales of our country’s automobile industry in 2020 were 2527.2 million, and the sales of new energy vehicles were 1.367 million.

　　If the total sales of new cars in 2025 is 25 million, it means that the sales of new energy vehicles will reach 5 million. From 1.30 million to 5 million This means that new energy vehicles will have great market demand, and the new trend of making money will naturally attract the pursuit of Internet bosses.

　　Recently, Lei Jun led Xiaomi into the new energy vehicle industry, intending to open up a new world in the automotive industry. Previously, large Internet companies such as Baidu and Apple have announced their entry in a high-profile manner.

　　Although NIO has seized the trend and become one of the three heroes of China’s new car manufacturing forces, it does not have a strong corporate background similar to Baidu and Xiaomi, and NIO is in the dilemma of lack of core and loss.

　　Even so, Li Bin still seemed full of confidence. He said at the "WISE 2020 King of the New Economy" conference that NIO is not just a car company, but also a car-oriented community, a community that shares joy and grows together.

　　Industry commentator Zhang Shule told Investor.com that although NIO has performed well in the field of domestic electric vehicles before, the main reason is the lack of strong competitors. However, with Baidu, Xiaomi and other Internet technology companies and various traditional car companies entering the new energy vehicles and even higher-dimensional smart cars, NIO’s future competitiveness will be greatly challenged.

　　Zhang Shule believes that there will be a bubble in Internet car building, that is, the current artificial intelligence technology and vehicle to everything vehicle part are still in the exploratory stage, and it is inevitable that there will be PPT car building (that is, conceptual car building). However, with the technical background of Internet Tech Giants, there is no big problem for companies like Baidu and Xiaomi, because Internet companies have scientific and technological concepts, such as Baidu is to install "brains" for electric vehicles, and Xiaomi is a hardware retail distributor, forming a combination model to create cost-effective electric vehicles.

　　Perhaps for NIO, finding a way to make a profit, get out of the loss dilemma, reach a gambling agreement, and avoid being acquired are the most practical problems it needs to solve urgently. (Produced by Thinking Finance) ■

　　

Wen Ya training chart

Wen Ya practices diving.

　　A few days ago, @ Zhejiang Satellite TV China Blue @ China Star Jump triggered a new diving boom. During the visiting classes of fans and the media, we found that Wen Ya’s body had been seriously overdrawn after many days of training. In order to complete the strict training again and again, not only was her thigh bruised by water spray, which was worrying.

　　Among the many stars who appeared in "China Star Jump", Wen Ya is the first female star to start diving training. With her own efforts, she also has a very good reputation among the staff. According to the staff, Wen Ya is the earliest to arrive at the training ground every day and the latest to leave. Girls love beauty, but Wen Ya has made painstaking efforts for training, which made her thighs covered with bruises caused by diving. Many fans expressed their anxiety after watching it, but Wen Ya didn’t mind it. She said that these efforts can let everyone see her beautiful diving process on TV, which is very worthwhile for her.

　　In the interview, Wen Ya didn’t disclose more information, but some fans in Wen Ya said that Wen Ya’s nose had lost its sense of smell for a week because of a strong water impact during training, except for a thigh injury. Although the doctor said that this loss of sense of smell was not permanent, Wen Ya’s efforts to overdraw her body for the audience were really touching.

Steam potential Auto-First| Zhang Chi

History is a cycle. Zheng He’s voyage to the Western Ocean 600 years ago opened China’s eyes to the world and made the world know about China. Today, 600 years later, many industries in China have started a brand-new "voyage to the West".

For most of the past century, cars have been imported, and China people can only look up and follow them.

Taking the automobile industry revolution led by new energy and intelligence as an opportunity, China brand cars have an excellent time to change lanes and overtake.

In the first quarter of this year, China’s total automobile export volume reached a new high, surpassing Germany and Japan, and became the world’s first in export.

Chery, as a leader in China’s automobile export, recently created the column "See the World with Eta Ursae Majoris" by its high-end brand Xingtu, which made more overseas consumers know about China automobile and raised a strong sense of national pride in China people’s hearts. This overseas column created by Starway has created many firsts of the brand: driving a Chinese blue brand vehicle in the Middle East for the first time; The first China international live broadcast; The first outdoor international broadcast of Gobi Desert; The first outdoor international live broadcast of Kuwait Sea.

At present, the total exposure of the project has reached more than 900 million times, attracting more than 16 million user interactions, setting off a car boom in China overseas, and the charm of intelligent manufacturing in China has been greatly demonstrated.

Starway takes the domestic market as the cornerstone and the international market as the transition. The two main lines fight side by side, and the two potential energies empower each other. With the multi-dimensional cooperation of market and brand, it will create a different road for China brand to rise.

Change lanes, overtake and sail out to sea.

In the future, China brand will definitely be born into a world-class automobile brand, and this idea has sprouted in the minds of China autobots.

China brand cars have never stopped exploring the sea and brand promotion, and have made many rounds of attempts. It is common for them to fail and hit a wall.

The automobile industry chain and intelligent manufacturing system, which grew up with the automobile market in China, nourished the automobile brands in China. In 2023, the watershed event of China automobile going overseas has appeared. I still remember that the shock of 2,000 overseas friends and dealers gathered at the Chery booth at the Shanghai Auto Show in April showed Chery’s outstanding performance and strong atmosphere in overseas markets, and it was also a prelude for China automobile to become a world-class brand.

Why can China become the largest automobile exporter today, and China brand cars can be sold for more than 400,000 yuan? What is the logic behind it?

China brand has obvious advantages in new energy and intelligence at the time of new energy transformation and profound changes in the automobile industry. The market share of China brand in China market is over 50%, and the new energy penetration rate of autonomous passenger cars is also over 50%. In many market segments, China brand cars have begun to become the leader.

In 1908, Ford Model T led the first automobile industry revolution, and then Toyota’s lean production promoted the second automobile industry revolution. The third industrial revolution is already on the way.

In the global automobile industry chain, China brand has been doing dirty work for too long, and needs to share more harvest fruits. The revolution of the automobile industry will be an excellent time to reshuffle the cards and upgrade the brand of China.

Eta Ursae Majoris was born at the right time.

Yin Tongyue, Chairman of Chery Group, once compared Chery to Volkswagen and Starway to Audi. Yin Tongyue said: "Xingtu is the pinnacle of the brand pyramid of Chery Group, and it is a global high-end strategic brand of Chery facing the future layout. It must be duty-bound to lead Chery’s mission of technological breakthrough and brand promotion".

Starway Eta Ursae Majoris is the first strategic product in Starway Development Phase 2.0, which bears the heavy responsibility of "market breakthrough, user breakthrough and brand breakthrough".

In fact, China’s automobile market is diversified, and the barrier for consumers to choose independent high-end products has gradually broken the ice. Behind it is the real improvement of the quality of China brand automobile products. More importantly, in terms of design, configuration and intelligence, China brand has crushed the joint venture brand. Even though the price has gone up, it still has a super high quality-price ratio.

Pre-sale in Eta Ursae Majoris is a highlight moment, with 12,900 pre-sale orders and 5,118 large users in a short time. Up to now, in Eta Ursae Majoris’s sales structure, four-wheel drive models account for 64%, which is the best-selling China car in the four-wheel drive version within 200,000 yuan, which further robs the joint venture brand of the right to speak on four-wheel drive pricing. Moreover, the portrait of users in Eta Ursae Majoris has also ushered in an upward leap, accounting for more than 70% of the purchases, more than half of which are joint venture luxury users, and 9% of users once owned BBA. These data indicate that there are a group of people in the market who dare to break the inherent cognition, be good at thinking and have the courage to choose China products, which is also an important foundation for Star Road and even China brand to form market breakthroughs and user breakthroughs.

Chery is partial to Starway, and all new technologies are the first to bring it. Xingtu Eta Ursae Majoris is the first product of Eta Ursae Majoris 2025 Laboratory’s scientific research achievements. It was born in M3X Mars Architecture 2.0, which won the special award of the third China Automobile Fengyun Festival by China Radio and Television General Station. It is the first product of this architecture and the first product put into production by a brand-new smart factory. Of course, Eta Ursae Majoris has lived up to expectations. It is a car with the brand positioning of "smart, trendy and energetic", which will effectively promote the landing of brand image and form a brand breakthrough.

150,000-200,000 yuan, the market is full of water and fish.

In addition to its excellent technology, it enjoys the advantage of equal rights in technology. In fact, Eta Ursae Majoris’s domestic traditional energy passenger car market of 150,000-200,000 yuan is the second market segment. Among them, there are many well-known mainstream joint venture brands such as Tiguan L and CRV. Some people will say, why is Starway wrestling with them?

Design is the translator of the brand, and Starway Eta Ursae Majoris won the 16th American IDA Design Gold Award for its excellent appearance interpretation. IDA International Design Award is one of the four top industrial design awards in the world. In recent two years, the models that have the chance to win IDA Gold Award in the automobile field are basically ultra-luxury brands, and Starway can win the award of changing items, which represents the real rise of automobile design in China.

In fact, Starway has surpassed many joint venture brands in the sense of new energy in appearance, exquisite interior and driving quality of chassis. The flying fish super-sensing chassis adopted by it combines a series of advanced equipment, such as CDC electromagnetic suspension system, Soft Stop system, chassis hydraulic vibration isolation system, intelligent brake-by-wire system, freewheeling steering system, etc. Many technologies are also difficult to see on 400,000-class vehicles. This chassis has truly achieved the luxury driving control quality of "starting without looking up, braking without nodding, turning without tilting, bumping without sprinkling water". In addition, with the functions of all-terrain technology system and all-scene intelligent four-wheel drive system, the vehicle’s passability and ability to get rid of difficulties are ahead of the same level.

Moreover, 200,000 yuan can enjoy the co-driver’s queen’s seat, L2 driver’s assistance, Sony stereo and Qualcomm 8155 chip configuration, which is unimaginable in joint venture brands. With the luxury quality of 400,000 yuan, Eta Ursae Majoris launched a "luxury equal rights" campaign for 200,000 yuan SUVs on the market, which is the most cost-effective SUV within 200,000 yuan.

The sense of value is universal. Starway is replacing BBA in some overseas markets, and even "BBE" in some countries. Starway is one of the rare China brands whose overseas sales and prices are higher than domestic ones, and their excellent performance is positively affecting the cognition of domestic consumers. As the cornerstone of sales, domestic sales have made the star road stable and far-reaching. At present, Xingtu brand has formed a positive cycle, and it is forming a unique high-end model of its own brand through the efforts of domestic and international dual markets to build a brand upward.

Concept of steam potential: Eta Ursae Majoris’s domestic and international dual kinetic energy has gradually become a new trend

Farmers who are simple and lack of ability will not lose their time in the world, and they will not lose their geographical position in the world. They will get people in harmony and never waste everything. 2,300 years ago, Xunzi, a great Chinese philosopher, told us that it is necessary to make the best use of the right time, the right place and the right people in order to succeed in business. China’s automobile brand is facing a golden opportunity of "harmony between the right time and the right people".

If China brand tried many rounds of brand promotion more than ten years ago, and even went out and hit a wall, it was a tuition fee that had to be paid. Then Eta Ursae Majoris’s voyage to the sea is more like Zheng He’s taking China’s tea and porcelain to other parts of the world 600 years ago, so that the world can appreciate China’s manufacturing and another understanding of automobiles. Eta Ursae Majoris and even Xingtu brand, driven by the dual kinetic energy of domestic and international markets, is becoming a new fashion of China brand cars.

Nowadays, with the gradual increase of the market share of new energy products, major car companies have also accelerated the layout of this market. For example, Dongfeng Honda is about to launch a brand-new independent brand of new energy; Hyundai wants to join hands with BAIC Group to develop electric vehicles; Volkswagen cooperates with Xpeng Motors to develop pure electric vehicles.

It has to be admitted that joint venture brands have been involved in the "spring tide" of new energy. Volvo, as a luxury brand that laid out new energy routes earlier, also began to speed up on the road of full electrification. Recently, Volvo officially announced that it will stop production of diesel vehicles in early 2024. This means that it is a step closer to achieving full electrification. At the same time, Volvo will become the first mainstream traditional manufacturer to completely abandon diesel vehicles.

It should be noted that until 2019, diesel models will still be Volvo’s main market in Europe. With high reliability, low noise and low fuel consumption, Volvo’s diesel models are widely recognized in the European market. However, according to relevant data, with the rise of new energy vehicles, the market share of Volvo diesel models has also dropped from 50% in 2015 to 14.1% in July 2023.

Previously, Volvo Cars said that by 2030, the company plans to sell only all-electric vehicles; By 2040, the goal will be to become a carbon neutral company. Volvo’s decision to stop production of diesel vehicles has made people full of confidence in Volvo’s future new energy development.

In addition, Volvo sold its shares in the internal combustion engine development company as early as last year, saying that it would not invest any more money in new internal combustion engines. Moreover, Jim Rowan, CEO of Volvo, said: "Electric powertrain is our future, and the company is fully focused on building a series of superior and pure electric vehicles to meet all the expectations of customers for Volvo." It is not difficult to find that Volvo’s determination to transform into electricity is great.

Not only that, Volvo will launch two pure electric SUVs in the next few months, namely Volvo EX90 and EX30, to meet consumers’ demand for Volvo’s new energy products. At the same time, Volvo also announced in August that Volvo EM90, Volvo’s first pure electric luxury MPV, will be launched in the world on November 12th this year, and the reservation in Chinese mainland will be started simultaneously.

Known as "the safest and most secure pure electric SUV ever", Volvo EX90 appeared in the domestic market as early as April this year, and the new car will be listed in China market in 2024. It is reported that the Volvo EX90 is based on the Volvo SPA2 platform and has a good performance in terms of performance.

Another luxury pure electric small SUV, Volvo EX30, also made its world debut as early as June this year. The car is priced at 34,950 US dollars (about 249,000 yuan) in the US market and 36,000 euros (about 274,000 yuan) in the European market. In the China market, the pricing of Volvo EX30 may be more "people-friendly". Volvo EX30 is built on the vast architecture platform of Geely SEA, and smar Elf #1 is also from this platform.

As Volvo’s first pure electric luxury MPV, Volvo EM90 is built on the vast architecture platform of Geely SEA. It is expected to be driven by dual-motor four-wheel drive, and is expected to be equipped with ternary lithium batteries and the latest Kirin batteries. The pure electric cruising range is expected to be around 800km.

In the eyes of Volvo CEO Luo Wenjin, electric power systems are superior to internal combustion engines. They produce less noise, less vibration, lower maintenance costs for customers and zero exhaust emissions. Therefore, whether from the point of view of consumers’ later consumption or Volvo’s goal of coping with climate change, electric vehicles are the best choice.

In the era of fuel vehicles, Volvo is the leader of automobile safety. In the new energy era, Volvo will sublimate safety into new energy vehicles and become the "leader" of new energy vehicle safety. You know, as early as April this year, Volvo released the World Tree Intelligent Security System, which combines the trend of electrification and intelligence to realize the inheritance and evolution of security.

Write it at the end

The debut of Volvo EX90 and Volvo EX30 indicates that Volvo has begun to accelerate on the new energy track. The suspension of diesel models is Volvo’s determination to fully electrify the outside world. Next, Volvo EM90 will be unveiled soon, which further enriches Volvo’s new energy product matrix.

(This article was originally produced by Wenwu Lane New Media Studio, please indicate the source: Wenwu Lane, author: Xia Mu)

　　[car home Information] The 2024 Beijing Auto Show has officially entered the public day. As a huge event in the automobile circle, more than 200 new cars are competing for beauty at this auto show. In order to let you know more about many popular cars in this auto show, this auto show observation brings you the hottest 10 new energy cars during the auto show.

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◆ Xiaomi SU7

　　If we say which brand has the highest attention and the largest number of people waiting in line at the booth, it must be Xiaomi booth and (|). On the day of the auto show, Lei Jun announced that 28 days after the official release of Xiaomi SU7, 75,723 units were locked and 5,781 units had been delivered. It is understood that among lock users, female direct buyers account for 28%. According to preliminary research, considering gifts or purchases for family members, it is expected that the proportion of female car owners will reach 40%-50%. In addition, BBA users account for 29% of lock users of Xiaomi SU7. Support for wireless CarPlay and iPad boarding has also made Xiaomi SU7 the first choice for many Apple users to buy cars, accounting for 51.9% of Apple users. According to the survey, many Apple mobile phone users are also users of Mijia products.

　　Briefly reviewing this car, it was listed on March 28th, and five models were launched, with a price of 215,900-299,900 yuan. In terms of color matching, 9 colors are provided, including Gulf Blue, Lava Orange, Elegant Grey, Meteor Blue, Xiaguang Purple, Olive Green, Cambrian Rock Grey, Pearl White and Diamond Black.

　　In terms of car system, Xiaomi 澎湃 OS will be installed in the car system of SU7. Xiaomi SU7 is equipped with Snapdragon 8295 chip, and the Xiaomi tablet can be seamlessly mounted on the car, which is used as the rear expansion screen. Xiaomi SU7 supports five-screen linkage, and its application ecology covers mainstream in-vehicle applications, tablet applications and mobile phone applications, supports CarPlay and airplay, and supports Apple iPad to get on the bus. In the intelligent driving part, the car will be equipped with two NVIDIA Orin chips, and its comprehensive computing power can reach 508TOPS. The official said that Xiaomi’s intelligent driving is self-developed and adopts adaptive BEV zoom technology.

　　The whole vehicle is equipped with rich ecological expansion interfaces. The ever-changing central control panel can be expanded from top to bottom, left and right sides. The ever-changing center console, fragrance/intercom/speaker can be changed at will. The physical buttons are left in the central control screen, and above the central control screen is an intelligent double dial, which can display information such as vehicle speed and mileage to increase driving pleasure. Back seat flat bracket, Xiaomi flat /iPad easy to get on the bus. Xiaomi SU7 supports five-screen linkage, and its application ecology covers mainstream in-vehicle applications, tablet applications and mobile phone applications, supports CarPlay and airplay, and supports Apple iPad to get on the bus.

　　In the power part, the maximum power of Xiaomi SU7 dual-motor version is 673 HP, the peak torque is 838 Nm, the acceleration time of 0-100km/h is 2.78 seconds, and the top speed is 210 km/h. It is equipped with Contemporary Amperex Technology Co., Limited ternary lithium battery with a capacity of 101kWh, and the cruising range of CLTC is 800km. The new car adopts low-temperature high-power battery technology, and the discharge power of low-temperature battery at MINUS 15 degrees is greatly improved. The single-motor version has a maximum power of 299 HP, an acceleration time of 5.28 seconds from 0 to 100 km/h, a Foday Ferrous lithium phosphate blade battery with a capacity of 73.6kWh, and a CLTC cruising range of 700km. The new car is also equipped with sports sound. With BOOST mode, 20-second peak torque output and ejection start.

　　It is reported that in 2024, Xiaomi SU7 will accelerate in delivery, service and OTA. The standard version and Pro version originally planned to be delivered at the end of April have been advanced to April 18th, and the Pro version will be delivered at the end of May, and the delivery is expected to exceed 10,000 units in June. In 2024, the annual delivery target of Xiaomi SU7 has been raised to 100,000 units. In order to improve the delivery speed and quality, Xiaomi Automobile is accelerating the site selection and opening. It is estimated that by the end of 2024, Xiaomi Automobile’s sales and service outlets will cover all provincial-level administrative regions in China, and it is planned to open 219 sales stores in 46 cities and 139 service centers in 82 cities. In addition, Xiaomi Automobile plans to carry out the first OTA after the new car is released in May, such as online wireless CarPlay function, end-to-end parking service and other intelligent driving experiences. The second OTA will be held at the end of May, and version 1.2 will officially release the NOA function of cities, taking the lead in opening 10 cities including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, Suzhou, Nanjing, Chengdu, Xi ‘an and Wuhan, and will be opened nationwide in August.

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◆ BYD Qin l

　　After watching Xiaomi SU7, let’s take a look at BYD Qin L, which is a very hot new energy car at this auto show. As a brand-new model of this brand, with the listing of this car in the future, it will form a two-car pattern with Qin PLUS to meet the needs of different users. The new car adopts the "New Country Tide and Beauty Aesthetics", and the interior of the large-size front grille is supplemented with dot-matrix elements for makeup, with outstanding visual effects. At the same time, the headlight group is narrow and sharp, which is highly integrated with the luminous "dragon beard" on the top. The integrated design not only makes the dragon face more stereoscopic, but also magnifies the horizontal visual effect of the front face.

　　From the side of the car body, its waistline runs through the front fender to the back door, which makes the car body more slender. With the concave rib line under the door, it creates a three-dimensional cutting effect and highlights the sense of strength of the whole car. At the same time, it adopts a slip-back design, showing a "low-lying" posture and being younger. On the tail side, the wide back shoulder design not only echoes the front face, but also increases the muscular feeling of the body contour. At the same time, the car uses a penetrating taillight shape, inspired by Chinese knots, and the recognition is full. In terms of vehicle size, its length, width and height are 4830/1900/1495mm and its wheelbase is 2790mm respectively.

　　As for the interior, Qin L’s interior design is inspired by China landscape painting. The agility of oriental landscape and modern technology are combined to create a "landscape painting cockpit" with elegant style. Specifically, the new car uses an embedded large-size LCD instrument with an iconic rotatable central control panel, which makes this car look very scientific and technological. At the same time, the new style of three-spoke multi-function steering wheel and wireless mobile phone charging are added to meet the needs of current users.

　　In terms of power, the new car will be equipped with a plug-in hybrid system consisting of a 1.5L engine and a motor, with BYD’s fifth-generation DM-i hybrid technology. The maximum power of the engine is 74 kW, and the maximum power of the motor is 160 kW. Compared with the current DM-i hybrid system of Qin PLUS, this one on Qin L further improves the working efficiency of the engine, thus achieving lower fuel consumption. Qin L will adopt the suspension form of front McPherson and rear+multi-links, which should be better than Qin PLUS in handling and comfort. The new car is equipped with lithium iron phosphate battery from Fudi, Zhengzhou. The battery provides 15.874kWh and 10.08kWh for consumers to choose, corresponding to the pure electric cruising range of WLTC of 90km and 60km respectively.

　　It is worth mentioning that at the beginning of this year, BYD Qin PLUS DM-i model shocked the domestic auto market at a price of 79,800 yuan, and Qin L, which is more PLUS than Qin PLUS, is about to debut. This car will have a larger body size than Qin PLUS, and the overall texture of the interior will be more advanced. At the same time, the brand-new fifth-generation DM-i hybrid technology will bring consumers lower fuel consumption and longer comprehensive endurance performance. According to the previous information, the price of the car may be more than 120,000 yuan. After entering the market, it will compete with the models with the same price as Deep Blue SL03 and Zero Run C01.

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◆ Looking up at U7

　　After watching BYD Qin L, let’s take a look at Wangwang U7, which is positioned as a large car. The new car uses a design language similar to Wangwang U9, equipped with a very exaggerated C-shaped headlight group, with a far and near headlight group above it and a circle of LED strip around it. There are raised ribs on the hood of the engine, and the visual impact of the whole front is extremely strong. At first glance, it is a troublesome guy. In addition, there is a small bump on the roof, and the inside should be a laser radar.

　　From the side of the car body, the new car is equipped with large-size wheels with low wind resistance. The car body lines are slender and smooth, and the overall appearance is relatively low. The front fender is equipped with a diversion groove design. The new car is designed with a hidden door handle, and a charging port can be seen at the left rear of the car body. From the rear of the car, the car uses a penetrating taillight, which looks full of technology and looks up at the LOGO in the middle. The multi-layer rear surround design below improves the layering of the rear of the car.

　　In terms of body size, the length, width and height of the new car are 5265/1998/1517mm and the wheelbase is 3160mm respectively. In terms of power, the car will be equipped with an easy square platform and four motors, each with a maximum power of 326 HP and a total power of 1306 HP. Although the new car has a curb weight of 3.095 tons, its top speed can still reach 270 km/h.

　　As the flagship brand of BYD’s impact on high-end, looking forward to the popularity of U8 has given the brand confidence to further try the Red Sea in the million-level market. Therefore, in the highly competitive car market, Looking Up to U7 came into being, aiming to share a slice of the large and medium-sized luxury car market with traditional luxury brands such as Mercedes-Benz S-Class, BMW 7 Series and Porsche Panamera. No matter the design or the power level, looking up at U7 is undoubtedly a new species in this class. The new energy era has given car companies more imagination and space to play, and also challenged traditional luxury brands in design ideas and product performance. Judging from the book data, looking up to U7 is not at all worried about the products of traditional ultra-luxury brands, but at the user level, how to successfully spoil the market in this relatively conservative market level and let consumers take the initiative to choose a domestic car with over one million yuan, the product strength itself and marketing are obviously indispensable.

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◆ Mazda EZ-6

　　At this auto show, Changan Mazda brought a brand-new model-EZ-6 based on Changan EPA hybrid platform. The new car is positioned as a medium-sized car and is expected to be officially launched in the second half of the year. Mazda EZ-6 continues the design style of Mazda family. The biggest highlight of the front face is that the classic Mazda wing adopts luminous design and uses headlights that run through the running water grille, which continues the concept of soul movement as a whole.

　　On the side of the car body, the car has a hidden door handle and offers two 19-inch aluminum alloy wheels, which also adopt a low wind resistance design. The new car body lines are full of strength and dynamic waistline. Just like other Mazda models, the dynamic beauty can be displayed by relying on the body lines. The taillights of vehicles are through-designed, and four round barrel lamp groups are added on both sides of the taillights, which is also a tribute to the classic design of the brand. In terms of body size, the length, width and height of the car are 4921/1890/1485mm respectively.

　　In terms of interior, the dashboard of the car adopts a suspended design shape as a whole, and the overall style is also close to electrification. In terms of materials, the car will be made of Alcantara and will be decorated with matt chrome trim to enhance the sense of exquisiteness. The high-profile models will use the "Red Deer Brown" interior color, while the basic models will use the "Heron Feather White" color.

　　In terms of intelligence, the car will be equipped with a 14.6-inch LCD screen, and the car system adopts 8155 chips to integrate the control of air conditioning, seats, entertainment and other functions. The car will also be equipped with a 14-speaker Sony audio system, 64-color ambient lights, front zero-gravity seats, and the cockpit also supports 13 scene mode switching. It is worth mentioning that the car also has a panoramic canopy and will provide automatic or manual sunshade. It can be seen that Mazda EZ-6, which was born in Changan EPA hybrid platform, has been greatly improved in terms of body size and interior texture, and its appearance has also maintained Mazda’s online design level. At the same time, after replacing the new energy assembly, it will quickly enter the new energy market in full swing, and get a slice of it to enhance brand sales and brand popularity.

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◆ BYD Seal 06 DM-i

　　In addition to the Qin L of Wang Chaowang mentioned above, there is also a brand-new medium-sized car-Seal 06 DM-i in BYD Ocean Network, which will be listed in the second quarter of this year. Looking at the appearance, the new car adopts the brand-new design concept of BYD Ocean Series. The closed front shape is matched with LED light groups with corners on both sides and the sharp cooling openings on both sides of the front enclosure, which presents a very dynamic style as a whole.

　　On the side of the car body, the new car adopts a slightly slip-back design, which looks very compact and round as a whole. In the rear part, the new car adopts the popular penetrating taillight group, and the taillights on both sides adopt a drop-shaped design, which, together with the transparent lamp shell, makes the new car show a fashionable and dynamic attribute. The rear enclosure uses a double-layer and double-color design, which shows the sharpness of the rear diffuser and further enhances the dynamic atmosphere of the new car.

　　In terms of interior, the interior of the new car follows BYD’s family style, with full LCD instrument panel and large-size central control screen design. The new car adopts a large number of curved designs on the door panels and seat surfaces, supplemented by a small amount of blue embellishment, which makes the overall atmosphere of the interior more elegant and fashionable. Different from BYD Seal, the shift area of the new car adopts a circular design, the small gear handle looks very delicate, and various function buttons surround the gear handle, which greatly improves the interior texture.

　　　In terms of power, Seal 06DM-i adopts a plug-in hybrid power system consisting of a 1.5L engine with a model of BYD472QC, in which the maximum power of the engine is 74 kW. The new car offers two sets of power versions, equipped with a 10.08kWh battery version, with a maximum motor power of 120 kW and a maximum torque of 210 Nm. The pure electric cruising range of the Ministry of Industry and Information Technology (WLTC) is 60km；. Equipped with 15.874kWh battery version, the motor has a maximum power of 160 kW and a maximum torque of 260 Nm, and the pure electric cruising range of the Ministry of Industry and Information Technology (WLTC) can reach 90km.

　　In terms of body size, the length, width and height are 4830/1875/1495mm and the wheelbase is 2790mm respectively. According to the official information, the size of Seal 06DM-i is just stuck between destroyer 05 and Seal DM-i of BYD Ocean Network, which completes the product sequence of the car. It is worth waiting for friends who want to buy an economical family car in the near future.

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◆ Wuling Xingguang EV

　　After seeing so many new cars that haven’t been listed yet, let’s take a look at the Wuling Xingguang EV, which just released the price at the auto show. It has launched two models in total, with the price range of 9.98-10.98 million yuan. Looking back briefly, Wuling Xingguang EV adopts the aesthetic design concept of star wing, and the electric version is equipped with a closed grille and split headlights, but the penetrating LED strip on the plug-in version is replaced by LED daytime running lights with long and narrow shapes on both sides. The lower enclosure is equipped with a penetrating black kit, which is integrated with the headlight groups on both sides, further enhancing the sense of movement.

　　The design of the side and rear of the car body is consistent with the plug-in version. The lines on the side of the car body are soft and smooth. The low-profile model is equipped with 17-inch rims and the high-profile model is 18 inches. In terms of the tail, the sharp penetrating taillights have a certain sense of the future, and they are surrounded by a large area of black under them, and the overall style is very sporty. In terms of body size, the length, width and height of the car are 4835/1860/1515mm respectively, and the wheelbase is 2800mm.

　　In terms of interior, the new car offers two interior colors: dark black and light sand color matching. The car is equipped with an 8.8-inch LCD instrument, the low-profile model is equipped with a 10.1-inch central control panel, and the high-profile model is 15.6 inches. Some commonly used physical buttons are still reserved in the car. The center console adopts relatively straight lines, supplemented by piano paint panel and metal decoration, creating a good visual layering. The car system has built-in rich social entertainment software such as iQiyi and QQ music.

　　In terms of power, the new car will be equipped with a 136-horsepower single motor with a maximum speed of 150 km/h. The battery is equipped with lithium iron phosphate battery, with cruising range of 410km and 510km. From the above, we can see that in the 100,000-level price range, Wuling Xingguang pure electric version really has few rivals. Take Qin PLUS as an example, the lowest starting price of pure electric version has reached 109,800 yuan, although the price is consistent with the high match of Wuling Xingguang pure electric version, Wuling Xingguang will win regardless of the body size or CLTC cruising range. According to the official data, the sales volume of Wuling Xingguang plug-in hybrid version has exceeded 52,000 units in the five months since its listing, and whether the pure electric version listed this time will replicate the results of the plug-in hybrid version remains to be seen.

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◆ Enjoy the world S9

　　Enjoy the world S9, which is positioned as a medium and large car, is the first "smart car" jointly launched by Huawei and BAIC. According to the previous information, the car will be listed within the year and will also enter Huawei channel sales in the future. The new car adopts a rather concise design language, and the wedge-shaped headlight group+penetrating light belt widens the visual width of the front of the car. The front enclosure of the new car is equipped with a wide trapezoidal vent, and the design of diversion groove is integrated under the headlights to create a certain sports atmosphere.

　　Coming to the side of the car, as a medium and large car, the roof line of the new car is slender and very smooth, and the overall visual effect is elegant and atmospheric. On the tail side, the new car uses penetrating taillights, and there is a design similar to duckling tail on the trunk cover. The lower enclosure design is simple, and the diffuser and other shapes are not used.

　　In terms of body size, the length, width and height of the car are 5160/1987/1486mm and the wheelbase is 3050 mm. In terms of power, according to different models, the car will provide two versions of single motor and dual motor for consumers to choose from in the future. The former is equipped with TZ210XYA03 drive motor produced by Huawei Digital Energy Technology Co., Ltd., with a maximum power of 227 kW; The latter is equipped with front and rear dual motors YS210XYA03 and TZ210XYA03 produced by Huawei Digital Energy Technology Co., Ltd., with maximum power of 158 kW and 227 kW respectively. According to some news we have got at present, the future price of Enjoy World S9 may reach about 500,000, and its price has entered the price range of luxury medium and large cars. Compared with competing products of overseas brands at the same level, Enjoying S9 benefits from Huawei’s technical empowerment and should have obvious advantages in the field of intelligence.

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◆ Lingke 07 EM-P

　　The Lexus 07 EM-P, which is positioned as a medium-sized car, opened for pre-sale at this auto show, with a pre-sale price range of 180,000-210,000 yuan. At the same time, the new car is expected to be listed in May and delivered as soon as it is listed. The LEEK 07 EM-P is built on CMA Evo architecture, which continues the shape of LEEK 08 in the design of headlight group. A pair of H-shaped "Dawn Light" LED daytime running lights are very recognizable, and there is a penetrating headlight group below, with far and near lights on both sides and LED strip in the middle. The overall shape of the front of the car is relatively round, and the lower enclosure is equipped with a large-size air inlet, which is connected with the diversion grooves on both sides, giving a full sense of movement.

　　From the side of the car body, the ABC column and the roof are designed in black, which can reduce the visual center of gravity of the whole car. The new car is equipped with a hidden door handle, and the rim is designed in black and white, which is very cool. From the rear of the car, the new car adopts the popular penetrating taillights, and there are four rectangular protrusions in the middle to further enhance the recognition. The rear of the car is equipped with a black spoiler and a large black rear surround, which shows a good sports atmosphere. In terms of body size, its length, width and height are 4827/1900/1480mm and its wheelbase is 2843 mm.

　　In terms of interior, the new car continues the design style of Lectra 08 as a whole, equipped with a rectangular 12.3-inch full LCD instrument panel and a 15.4-inch central control screen with ultra-narrow bezel design and 2.5K resolution, and equipped with LYNK Flyme Auto Meizu car system. The steering wheel adopts two-color design with oval metal decoration in the middle, and the overall shape is very avant-garde. The lower part of the center console is equipped with a mobile phone wireless charging board, and two cup holders are equipped under the rear cover.

　　In addition, the new car will also be equipped with Nappa leather seats, and the front and rear four seats support heating, massage and ventilation. There are three massage strengths and seven massage modes to choose from. In addition, the metal backboard is added to the back of the rear seat, which can improve the support stability and enhance the puncture resistance. It is worth mentioning that the new car will also be the first to take the Lectra Co Pad. The official said that it has the functions of controllable car, entertainment and care. In terms of power, the new car is equipped with a plug-in hybrid system consisting of a 1.5T engine and a motor. The maximum power of the engine is 163 horsepower.

　　Perhaps many people have different opinions on the design of Lectra, some people think it is very individual, while others can’t accept it. However, the design of LECK 07 is more sporty and more acceptable to the public while maintaining the family characteristics of LECK. Borderless windows and pad magnetic bracket are also its highlights.

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◆ Chery Fengyun A9

　　As the flagship car of Chery, Fengyun A9, which is positioned as a medium and large car, has a closed front face, which cancels the dot-matrix "light grille" on the previous model, and the interior details of headlights on both sides are more abundant, and ventilation holes are added on both sides of the front surround. On the side and tail, some details have also been adjusted, such as the application of a new style of wheels, the cancellation of hidden door handles, and the replacement of chrome decoration.

　　The new car adopts front double wishbone+rear five-bar suspension, and the addition of CDC magnetic suspension makes driving feel more comfortable. Power can achieve 0-100km/h acceleration time of 5 seconds, pure electric cruising range of 200km, comprehensive cruising range of more than 1400km. The official revealed that its length is nearly 5 meters and its wheelbase is nearly 3 meters. It is reported that the car will also have L3-level intelligent driver assistance system, and it is expected to be listed in 2025.

　　At this year’s auto show, Chery Group jointly participated in the exhibition, including Chery brand, Xingtu brand, iCAR brand and Jietu brand. It can be seen from the release and display of models that the main feature is comprehensive new energy. At the same time, Chery official said that its future goal is that the sales volume of hybrid plus pure electricity should not be less than 1/3 of the group’s sales volume, and Chery Fengyun series will launch 11 products within two years. So if you have plans to change cars/buy more cars in the last year or two, you can wait and see what surprises Chery will bring us.

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◆ Tengshi Z9GT

　　At the end of the article, let’s take a look at the new flagship hunting model of Tengshi brand-Z9GT, which provides a hybrid version of pure electricity and plug-in. Z series is a sedan series of Tengshi family, 9 stands for flagship model, and GT suffix is English abbreviation of Grand Tourer, which is expected to be listed in the middle of the year. Tengshi Z9GT is the first vehicle whose Tengshi design evolved from π-Motion design language to Elegance in motion design concept. The front face of the new car adopts the design language of solar corona, and the overall shape is simple and dynamic. In detail, the new car integrates smart devices such as lidar, AGS active air intake grille, millimeter-wave radar and ACC driver-assisted radar into the grille area of the front face, achieving the design philosophy of "form following function". In addition, the car also adopts the design of double-star crown headlights, and the multi-functional combination headlights include far and near headlights and the intelligent driving function of DLP pixel headlights.

　　On the side of the car body, the new car takes elegance as the design principle, and adopts the backward design of the center of gravity to shape the body posture that stretches backwards. The proportion of the car body is more than 3 times the axle ratio and nearly 2 times the wheel height ratio, which not only shapes the stretching proportion of the car body, but also emphasizes the dynamic and sports performance of the vehicle. The car’s lateral center of gravity is lower, and the driving center of gravity moves backward, creating a backward-leaning posture. In the rear part, Tengshi Z9GT presents a FASTBACK tail posture, which is equipped with an aircraft-type roof hollowed-out spoiler and an active rear spoiler, and is equipped with high-position brake lights and low-position pilot lights, showing good sports attributes. The horizontal line design at the rear of the vehicle makes it lower and wider visually, and echoes the front face with a symmetrical sense of order.

　　In terms of body size, the length, width and height of the new car are 5180/1990/1500(1480)mm and the wheelbase is 3125mm. In terms of power, Tengshi Z9GT pure electric version will be driven by front and rear three motors. The maximum power of the front motor is 230kW, the maximum power of the rear two motors is 240kW and 240kW, the combined maximum power is 710kW, and the maximum speed is 240 km/h. In addition, the car will use lithium iron phosphate battery from Foday, Jinan, but the official has not released the cruising range data of the car.

　　　Tengshi Z9GT, as the flagship model of pure electric hunting equipment under the brand, officially announced that it will bid for Porsche Panamera. On the whole, the positioning of the two cars in their respective brands does have similarities, and at the same time, on the intelligent level, Tengshi Z9GT also shows strong product strength. However, it should be noted that, in terms of the current Tengshi brand power, although Tengshi Z9GT is the flagship model, it still can’t arouse the purchasing desire of its target consumers. The reason is because of the differences in brand power and brand awareness between the two. The follow-up Tengshi brand still needs to create a better sense of use experience and ritual in terms of luxury and comfort configuration, in order to truly become the car purchase choice of target users.

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◆ Full text summary

　　This paper analyzes the popular new energy cars at this Beijing Auto Show for you, including several models that have been listed but are still hot. Having said that, are there any models you have been paying attention to? Welcome to discuss in the comments section. Next, we will bring you more auto show observation series articles, so stay tuned! (Compile/car home Zhouyi)