When our career is stable and our income is gradually "well-off", our originally poor life has also changed a lot, and the car we once yearned for is no longer out of reach. For example, this car is often mentioned as a space problem. Let’s take a look at it together.

Let’s take a look at the appearance of Jetway X95. The front of Jetway X95 looks very simple and generous, and it is equipped with a lattice mesh, which looks more atmospheric. At the same time, the headlights present a dignified design style and are full of calmness. The car is equipped with LED daytime running lights, automatic opening and closing, delayed closing and so on. Coming to the side of the car, the body size of the car is 4858 mm * 1925 mm * 1780 mm. The car adopts full lines, and the side of the car presents a dignified design style. With large-sized thick-walled tires, it looks full of movement. In terms of the rear end, the rear end echoes the front end, the taillights present a unique design style, and the exhaust pipe uses a bilateral single-outlet design, creating a good gas field.

Sitting in the car, the interior style is very elegant, which is consistent with the positioning of the car. The steering wheel design of this car is very avant-garde, made of leather and full of design sense. Take a look at the central control, with the 12.3-inch touch-sensitive LCD central control screen, so that the interior design is quite layered, in line with mainstream aesthetics. The dashboard and the seat are equally eye-catching. The dashboard of the car presents a rounded design style, which is very round and lovely. The car adopts leather-like seats, and the seats are wrapped in place, which improves the riding experience of drivers and passengers.

The Jetway X95 is matched with a wet dual clutch (DCT) gearbox, with a maximum power of 145KW and a maximum torque of 290N.m, with good power performance.

The performance of Jetway X95 trunk space is relatively good, the opening size is in line with the positioning of its family car, and the family’s storage needs can be met. At the same time, the car is equipped with anti-lock braking system (ABS), LED daytime running lights, brake assist (EBA/BAS, etc.), braking force distribution (EBD), traction control (ASR/TCS, etc.), main driver airbag, co-pilot airbag and front side airbag.

After reading this car, I believe you have a general understanding. The car with moderate size is a very suitable choice for many families, and the internal space is enough for daily use in families.

Jet Li once again appeared on the cover of Time magazine.

　 　Jet Li appeared on the cover of the latest issue of TIME magazine, and was hailed as the "The Jet Age" that turned from a martial artist to a philanthropist. Jet Li said: "It took me more than 20 years to realize that the most powerful weapon is a smile, and the most powerful force is love. Now I want to gather this power and pass it on to more people in need."

　　The last time Jet Li appeared on the cover of Time magazine was when he co-starred in the action film Hero directed by Zhang Yimou with Tony Leung Chiu Wai, Maggie Cheung and Zhang Ziyi in 2002. At that time, he was an internationally famous action star, but now he is the founder of the One Foundation, and he has not filmed for more than a year. He traveled all over the world to preach the concept of "Everyone donates 1 yuan a day, connects into a big family and helps more people". In July this year, "One Foundation" raised US$ 13.7 million, and most of it was donated to help the victims of the Sichuan earthquake, which made it famous at home and abroad.

　　Today (December 2), former US President Bill Clinton held a summit of the world’s leading figures in Hong Kong, and Jet Li was invited as a distinguished guest.

　　He said: "Charity is not only my passion now, but also a part of my life. I wake up and open my eyes every day, thinking about it whether I eat or take a bath." Time magazine said that this spirit and action may not be as good as big stars such as Bono, a famous singer who helped African refugees.

　　Time magazine listed Jet Li’s top 10 milestones. Born in 1963, he won the all-China Wushu championship in 1974 and went to the White House to perform in front of President Nixon in the same year. In 1979, he retired from the martial arts world with a knee injury; In 1982, he made the first film Shaolin Temple. In 1991, he entered Hong Kong to shoot the Huang Feihong series. In 1998, he entered Hollywood to make the first western film "Lethal Weapon 4"; Zhang Yimou’s Hero was filmed in 2002; In 2004, he experienced the rest of his life after the South Asian tsunami; Established "One Foundation" in 2007; In 2008, I stopped filming and switched to public welfare.

　　Jet Li said: "I have to choose the three most influential films for so many years. I chose Hero, which taught me that compared with the national suffering, personal suffering is nothing at all;" Fighting Dogs (supervised by Luc Besson) made me understand that violence can’t solve the problem. "Huo Yuanjia" made me realize that a person’s biggest enemy is actually himself. "

　　This big star, who is known as the "Kung Fu Emperor" in the Chinese film industry, moved to Singapore with his family. If he doesn’t go abroad, he spends most of his time in an ordinary apartment in Beijing with the staff of the One Foundation.

　　Jet Li said: "In the past few years, I have learned from more than 20 Buddhist masters that only by minimizing my material desires can I get the greatest happiness."

Eye-catching news
Deputy director of anti-corruption died in a car accident in the countryside	There are many wonders of "double stars arching the moon"		Uncover the secret of "tolerance" in the circle
The "water monster" overturned the coal carrier.	Deputies to the National People’s Congress kneel to apologize.		Take stock of the top ten events that sensationalized the entertainment circle.
Development and Reform Commission: Lifting price intervention for grain, oil, meat, milk and eggs		The economy started the battle to defend Bao 8. The bank plans to expand credit by 400 billion yuan.
China took back 3,100 compatriots stranded in Thailand.　Nearly a hundred tourists are still stranded.		Yang Jiechi congratulated Hillary on her nomination as US Secretary of State.
Shanxi coal price fell by 50%, and the coal boss lamented from heaven to hell.		The state plans to repay student loans for supporting western college students.
Wenzhou delegation to the United States denied staying in luxury hotels in Las Vegas.		Flat "Prison Dialogue" is finished and ready to write a new book "Taiwan independence"
Europe is worried about paying a high price for Sarkozy’s offending China.		Some European media violently attacked China for "provocation"
The appearance of the new American security team will test Obama’s management ability.		North Korea plans to produce a large number of instant noodles to overcome the food crisis
A few days ago, the "air force commander" said that he might retaliate against the United States with an atomic bomb.		American newspaper: Sarkozy sees Dalai doing the wrong thing at the wrong time
Canada’s opposition party has formed a joint force, and the current government is in danger.		Obama said to ensure the strongest military force and reiterated the withdrawal from Iraq.
Thieves were caught stealing oil and crashed into two police cars at a speed of 3 kilometers [Figure]		Jet Li will appear on the cover of Time again.
Experts restored Jiuhua Mountain’s "Body Bodhisattva" nearly 400 years ago.		Guo Jingjing was shown love by Dongguan fans. Why did she miss training?

Editor: Li Dan

The competition between the new generation of Chery Jetway Traveler and Tank 300 can be said to be endless, but at present they are in a relatively balanced state. At present, the new generation of Chery Jetway, the 7-seat version of Traveler is officially unveiled, which also breaks the balance between the two. This new generation of 7-seat version is expected to start selling at 149,900, which is slightly higher than the 5-seat version, but the overall competitiveness is more sufficient. After all, for such a positioning model. Generally speaking, the 7-seat version is still relatively competitive, and it is difficult to launch the 7-seat version of the tank 300. After all, the overall space of the off-road suv field is relatively compact, and it is difficult to launch the 7-seat version.

Jetway traveler 7-seat edition

It is difficult for a model like Tank 300 to launch a 7-seat version, because the overall size control of off-road suv is still relatively strict, and Tank 300 is a compact suv, and the overall size itself is relatively limited, so the space for launching a 7-seat version will be very small, even affecting the overall product strength of the model.

However, Jetway Traveler is completely different. This model is an urban suv. Even if the 7-seat model is launched, it will not affect the strength of the model. The overall space of the model is still very prominent, and the comfort for urban vehicles will not be affected. Therefore, the competition of Jetway Traveler’s 7-seat model for Tank 300 is obvious.

Once the 7-seat version of Tank 300 is launched, its performance in fuel consumption will obviously lose its advantage. After all, the 7-seat version has obviously improved the weight of the model. The fuel consumption of a model like Tank 300 is already very high. Once the 7-seat version is launched, the fuel consumption will continue to increase, but the influence of Jietu travelers is not great. After all, the model is a family car that just needs, and the overall economy of the 7-seat version has been very prominent, which will only enhance the overall practical performance, increase the cost performance of the model, and be able to face more families that just need.

　　Rajasthan Royals of the Indian Cricket Super League signed a sponsorship agreement with Niine, a sanitary towel brand in India, whose trademark will appear on the jersey of this men’s cricket team. The media commented that this will greatly challenge the deep-rooted menstrual taboo in Indian social concepts.

　　According to Agence France-Presse reported on the 18th, Rajasthan Royal Team said that they hoped the sponsorship of Niine brand would help educate men. According to the report, menstruating women in India still face deep-rooted social taboos. In some rural areas, menstruating women must arrange separate sleeping places and are forbidden to enter temples. According to "Business Wire India", Indian Prime Minister Modi emphasized his support for eliminating menstrual taboos in his Independence Day speech on the 15th.

　　Both Rajasthan Royal Team and Niine Company expressed the hope that this sponsorship will promote the society to change its view on menstruation, and both sides also released a poster with the words "Let’s discuss menstruation". The Royal Rajasthan team issued a statement saying: "There is no doubt that cricket is the most popular sport in India, which provides an ideal platform for discussing health problems and promoting social change." The statement also said: "The Rajasthan Royal Team will become a communication intermediary to help educate men in the Indian Cricket Super League in the 2020 season, which will not only enhance the relevant awareness on a large scale, but also promote understanding."

　　Ranjit Barthakur, executive chairman of Rajasthan Royal Team, said: "It’s time to make a real change. We are very pleased to welcome Niine, who has been a pioneer in changing the society’s view of menstruation. "

　　Amar Tulsiyan, founder and chairman of Niine Company, said that Rajasthan Royal Team and the company hope to jointly eliminate the shackles of women’s menstruation in their lives. "We believe that the Indian Cricket Super League is a powerful platform that can benefit thousands of men and women in our country and even in the world, and can be a catalyst to eliminate many people’s embarrassment about sanitary napkins and menstruation."

　　Niine brand was born two years ago, and its products include sanitary napkins, hand sanitizers and a series of hygiene and personal care products. In addition, Niine has developed a menstrual record App, which is available in 9 Indian languages.

　　Cricket is one of the most popular sports in India, and the Indian Cricket Super League has great influence both at home and abroad. Affected by the COVID-19 epidemic, this year’s Indian Cricket Super League will be held in the United Arab Emirates from September 19th to November 10th. At that time, the Rajasthan Royal Team will play in a jersey with Niine logo printed on the back.

Speaking of Honda, it is an "evergreen tree" under the Honda brand. Since its birth in 1976, it has maintained good sales and reputation after many generations of changes. As a medium-sized car, Accord has won the favor of many consumers with its balanced performance, comfortable driving experience and reliable quality. Today, we will bring you a second-hand Accord to see how it performs.

Basic information

The specific version of this Accord is the 2022 260TURBO Deluxe Edition, which is a medium-sized car with a black exterior and a dark interior. The accumulated mileage is 31,000 kilometers. The first license date of the car is January 2022. The license plate and the source of the car are both in Shenyang, and the ownership is 0.

The tax-included price of the new car is 213,200, and now the price of the used car is 125,800.

Specific configuration information

Accord 2022 260TURBO Deluxe Edition is equipped with leather seats, single skylight, 7-inch non-full LCD instrument, 1 speaker, dual-zone automatic air conditioning and other configurations. Among them, L2 assisted driving, full-speed adaptive cruise and other active safety configurations make driving easier and more convenient.

In terms of comfort, although the main driver’s seat does not support electric adjustment, the dual-zone automatic air conditioner and leather-like seat provide a good riding experience. In addition, the car is also equipped with keyless entry and starting functions, which further enhances the convenience of use.

In terms of power performance, it is equipped with a 1.5T inline 4-cylinder turbocharged engine, with a maximum power of 143kW and a maximum torque of 260N.m It is matched with a CVT continuously variable gearbox, which has smooth shifting and high transmission efficiency. The front McPherson independent suspension and the rear multi-link independent suspension ensure the stability and comfort of the vehicle. NEDC’s comprehensive fuel consumption is only 6L/ 100 km, and its fuel economy performance is excellent.

interior decoration

4-door 5-seat sedan with a wheelbase of 2830mm provides passengers with spacious seating space. The trunk volume is 573L, which meets the daily travel needs. Accord 2022 260TURBO Deluxe Edition has a body length, width and height of 4906x1862x1449mm and a wheelbase of 2830mm, providing passengers with spacious seating space. The rear seats support the whole row, which further increases the flexibility of storage space.

Market situation and car cost

The current market situation shows that the used car price of this Accord is roughly between 112,900 and 139,100. Of course, the specific selling price will be affected by factors such as the condition of the vehicle. According to estimates, the average annual comprehensive vehicle cost of this car is about 11,000 yuan per year.

Advantages and disadvantages

In terms of advantages, Accord 2022 260TURBO Deluxe Edition has become the choice of many consumers with its excellent power performance, rich configuration and spacious space. At the same time, the car has a high value-for-money ratio and is a model with high cost performance.

Disadvantages, some car owners report that the car is noisy at high speed and the sound insulation effect is average. In addition, there is less storage space in the car, which may not be enough for users who have a large number of items to store. The rear seats of the Accord 2022 260TURBO Deluxe Edition only support the whole exhaust, which can not be laid down in proportion, which limits the flexibility of space to some extent.

Generally speaking, the Accord 2022 260TURBO Deluxe Edition is a cost-effective model, which is suitable for consumers who pursue power performance and comfort. Of course, you need to make a reasonable choice according to your personal needs and budget before buying.

To sum up, the car cost, market conditions, advantage analysis, price comparison of the same paragraph and other data are for reference only, and the car condition information needs to be comprehensively referenced offline in combination with the actual situation of the vehicle.

　　[car home Industry] Recently, the news that Celeste Huawei has stopped production of SF5 has been widely circulated. Many users said that they had been told by offline stores that (|) no longer accepted reservations. Not long ago, AITO, a high-end new energy brand jointly built by Huawei and Celeste, was released, and the first model of the new brand was listed on the market. This caused concern about the fate of Cyrus.

　　"The Celestial brand will not withdraw from the market. As long as users have demand, we will produce and deliver it." After an exclusive conversation with Zhou Lin, executive deputy general manager of Jin Kang Celeste Science and Technology Center and general manager of product line, car home got this definite answer.

　　In the face of the constantly fermenting public opinion, Cyrus recently posted on its official social platform that "Cyrus SF5 will continue to accept user orders." Despite the official clarification, with the new brand AITO, the future development fate of the Celeste brand is worrying. Since the announcement of its entry into the automobile industry, Huawei has always been accompanied by controversy, and the future of Cyrus, which is closest to Huawei, naturally concerns the industry.

"Zhou Lin, Executive Deputy General Manager and General Manager of Product Line of Jin Kang Sailisi Science and Technology Center"

■Cyrus will not disappear.

　　Sailis SF5 is the first model that Xiaokang (parent company of Sailis) cooperates with Huawei. When it came out in April, 2021, it was rumored that the order number of Celestial was refreshed several times: "The order number was broken by 3,000 vehicles in two days" and "the national order number exceeded 10,000 vehicles in one month". It is based on the high attention at the initial stage of the release that the outside world has high expectations for the sales volume of Sellers SF5 in the terminal.

　　According to the latest data of the Federation, the sales volume of Sailis SF5 in 2021 (April-November) is only 7080 vehicles. According to car home, it is partly because of the slow delivery. Due to Huawei’s high technical requirements, the running-in of quality control between the two parties has a certain impact on the climbing of production capacity.

"Source: Federation; Watchmaking: car home Industry Group "

　　"In this process, Huawei applied some concepts in the field of mobile phones and ICT, and provided more information on how to complete product quality control standards completely." Zhou Lin said, "A large number of mobile phones need to ensure complete and consistent quality standards, and the number of them on the market far exceeds that of cars, so Huawei’s quality control standards are more detailed than cars."

　　As for why the news that Celeste SF5 stopped production came out, Zhou Lin attributed it to the fact that the promotion of new brand models needed to be tilted in resources, which caused some misunderstanding to the outside world. "Due to the shortage of chips, due to the consideration of ensuring the timeliness of user delivery, the reservation will not be accepted for a few days, avoiding that the order cycle will take two or three months or longer to deliver, and users may complain. Now, with the solution of this problem, the reservation channel has been reopened."

　　Car home found on Celestial App that at present, Celestial Huawei can still place an order normally, and users can choose 1000 yuan’s intentional deposit or 10,000 yuan.

　　In fact, the negative emotions of Celestial SF5 users stem from Celestial’s closure of direct stores and the "separation" of Huawei brand from SF5. After all, Celestial SF5 withdrew from all the experience centers of Huawei overnight after its appearance, and the posters in the store have been switched from Celestial Huawei’s smart selection SF5 to AITO Media M5. When car home visited the Shanghai Sailisi direct store, he also found that the store was being rebuilt or even closed. The sales said, "We have moved to the AITO user center, and the pre-sales and after-sales are integrated."

"Photo by car home: The changes before and after a Celeste store in Shanghai"

　　It is not uncommon to complete the model change and upgrade within one year in the current technical iteration of smart electric vehicles. Even the new force of "Wei Xiaoli" can’t avoid the pit of complaints, and old users often feel that they have been "cut leeks". However, in just eight months, it is the first time that a newly established brand has switched to another brand.

　　In order to appease the old users, Sailis posted on its official social platform on January 5, "For the users who have already delivered, Sailis promised to upgrade the lifetime warranty of the whole vehicle and range extender in addition to the 8-year/160,000-kilometer warranty of the three-power system promised earlier, and the first owner can get an additional discount of 10,000 yuan on the basis of the rights and interests of the schedule within four years." However, the owner of Celeste SF5 needs to go to AITO brand store for after-sales maintenance.

　　Zhou Lin also clearly told car home, "Sailis is still Sailis, and AITO is a brand-new high-end smart car brand with the high assistance of Huawei. The two brands will continue to enrich their product matrix and new models will come out constantly. This is a product pedigree evolved under two brands of an enterprise."

　　It is expected that at the end of February this year, the M5 will start the delivery of the first car owners. Regarding the follow-up vehicle planning of AITO brand, Zhou Lin revealed, "It is expected that a new large SUV will be launched at the end of the second quarter or the beginning of the third quarter in 2022, and it can be delivered by the end of this year. Since then, there will be a pure electric version of the M5. At the same time, new models launched in 2023 are also being prepared in an orderly manner. "

■Competition between Cyrus and AITO brand?

　　Although Celestial’s response put an end to the rumors of the suspension of production of SF5, it did not completely dispel the doubts about the future direction of Celestial SF5 and even the brand.

　　The insiders believe that Huawei has shifted its focus to the newly listed model M5, and stopping SF5 is a timely stop loss in a sense. However, some analysts pointed out that there are some differences in the positioning, selling prices and target groups of the two models, which may be complementary.

　　After the official listing of M5, some potential consumers were diverted to M5 on a large scale under the guidance of sales due to the temporary suspension of sales of Celestial SF.

　　Gwan Chin (a pseudonym), a user around car home, bought the SF5 of Celeste Huawei Smart Choice in early December. Because the sales promised to deliver the car in one week, Gwan Chin sold the gas car at home. Unexpectedly, after waiting for two weeks, the sales told him that the car had been discontinued and recommended him to add money to buy a new brand M5.

　　According to the official, M5 has been on the market for three days, and the large order has exceeded 2,000 units. Will Sellers SF5 be substantially marginalized by the market?

　　From the perspective of product strength, the M5 of AITO is indeed remarkable. Among them, Huawei’s HarmonyOS intelligent cockpit is the biggest highlight of the M5. Only with the opening of HarmonyOS system, will this advantage be leveled by more models equipped with HarmonyOS smart cockpit in the future? In Zhou Lin’s view, AITO has taken the first-Mover advantage at the time node.

　　"It was originally planned that the mass production time of Huawei’s HarmonyOS smart cockpit product was September 2022. With the deep cooperation between Huawei and Celeste, this product can be mass-produced about one year in advance. At present, the HarmonyOS smart cockpit mentioned by friends on the market is not a complete cockpit concept, similar to the cooperation mode of the traditional car Tier 1. "

　　In the mode of cooperation, Huawei’s deep participation has obviously gone far beyond other automobile projects. If Cyrus SF5 is Huawei’s adopted son, then the world M5 is more like Huawei’s own son.

　　Nowadays, Huawei has put more thoughts into the pre-planning and product design of AITO brand, even into product marketing and factory transformation. Especially in the research and development and adaptation of intelligent cockpit in HarmonyOS, Huawei has devoted more human resources.

　　"Since March this year, the Huawei team has gradually intervened in various workshops and links, including the R&D team. At present, there are four or five hundred people." Zhou Lin revealed.

　　As for whether the follow-up Sailis can only use its own channels, there is also uncertainty about whether it can re-enter Huawei’s intelligent car selection system. After all, unlike other auto companies’ direct stores, Huawei has limited area allocated for exhibition cars. With the release of the second new model of AITO this year, how much resources can Huawei give to Celeste? How to avoid internal competition among brands is a problem that Cyrus must think about at the moment when various car companies are grabbing the window period of smart electric vehicles.

　　"We give the choice to the users," Zhou Lin said frankly. "Celeste and AITO brands will have their own brand positioning and target customer groups, and the two brands will be differentiated. At present, there is only one model under each brand, and the system is not fully established. It will be gradually improved in the later stage."

■Xiaokang doesn’t want to just be a foundry.

　　Under the concern of where the Celeste brand will go, the outside world also believes that Huawei will "build a car" by taking advantage of the factory and qualification of Xiaokang shares.

　　Today’s Huawei, although verbally claiming "no cars", has indirectly declared its series layout and actions that Huawei does not only want to be limited to Bosch in the era of smart electric vehicles.

　　On December 23, 2021, at Huawei’s flagship new product launch conference in winter, Huawei walked to the stage for the first time from behind the scenes of the automobile industry. Yu Chengdong said apologetically that he had caught a cold, but he spent more than 30,000 words to introduce the M5, but Cyrus never appeared in front of the stage.

　　Yu Chengdong said, "AITO M5 integrates Huawei’s industrial design, engineering technology, system software and HarmonyOS’s ecological advantages." Selis is rarely mentioned between the lines, and people in the industry feel that this car is infinitely close to Huawei’s "pro-son" except for not hanging Huawei’s logo.

　　"But this does not mean that Xiaokang has become a Huawei foundry." Zhou Lin emphasized that with Huawei’s help, AITO’s first model, the M5, was manufactured into the whole value chain of users’ cars, and Cyrus was responsible for R&D, manufacturing, delivery, service and creating the whole life cycle car experience. Huawei is deeply involved in product definition, quality control and channel sales. The two sides give play to each other’s strengths.

　　"When the smart ecology collides with the automobile industry, there will be many new explorations and ways." At present, Huawei’s cooperation with car companies has defined two modes: First, Huawei Inside mode. At present, Huawei provides autonomous driving solutions to three cooperative car companies, namely BAIC, Changan and Guangzhou Automobile, to support them to build their own sub-brands; Second, Huawei’s BU business provides parts and solutions to car companies.

　　AITO M5 is a brand-new cooperation mode, which is independent of the above two modes: Huawei is not only a component supplier, but also the industrial design team of Huawei BU.

　　"If someone says that we are a foundry, why doesn’t Huawei buy a factory itself?" In the conversation, I can feel the injustice in Zhou Lin’s heart. "Huawei originally made mobile phones, but it didn’t know much about the automotive field. The design standards of automobiles have always been dominated by us, but Huawei’s specialties in the ICT field, such as communication and cockpit information security, will be deeply dominant."

　　In Zhou Lin’s view, in addition to Huawei’s empowerment, Cyrus also has its own core technology, which is more focused on the research and development of new energy technologies and manufacturing quality (five boutique platforms+core three-power technology+Industry 4.0 smart factory). If the M5 can maintain its leading position in the market, it is not the strength of a single product point, but the joint efforts of both parties to open the era of smart cars for users, which is the core that distinguishes it from other models.

　　Undoubtedly, Cyrus’ initial intention is to use Huawei to improve his brand image. Before the cooperation with Huawei, the industry knew little about Cyrus. After taking the "express train" of Huawei, the share price of the parent company of Cyrus Xiaokang soared from 17 yuan/share in early 2020 to the highest 83 yuan/share.

　　However, after the release of M5, the capital market quickly gave feedback to Xiaokang shares: it fell more than 7% that day and fell for two consecutive days, then continued to fall, and closed at 52.56 yuan/share on January 7. Huawei still spends a lot of energy and resources on the new car of AITO brand, but Cyrus is busy with the production and after-sales of SF5.

　　Will Cyrus reconsider its cooperation with Huawei? The insiders think it is difficult to give an answer. "Objectively speaking, the cooperation with Huawei has brought a high degree of attention to Xiaokang and also brought a sharp rise in the stock price." The data shows that in the first three quarters of 2021, the company achieved a total operating income of 11.45 billion yuan, a year-on-year increase of 24%, but the net profit returned to the mother was-1.083 billion yuan, a year-on-year decrease of 49%.

　　In-depth cooperation with Huawei can almost be said to be the only option for Cyrus at present. Xiaokang also stressed at the investment exchange meeting on January 7 that "the cross-border cooperation between the company and Huawei is in-depth and successful, and the two sides have invested heavily, and there is no reason for not cooperating."

　　At present, it is a top priority for Cyrus to cooperate well with Huawei and try to polish products and make delivery. At the AITO brand launch conference, Sailis officially put forward a slogan that seems a bit difficult now-to become the TOP3 of the global new energy vehicle within five years. In Zhou Lin’s view, with the advantages of both parties and the continuous optimization of the new product system, we can reach the breakthrough level of the sales model. "Let everything go to time!" (Text/car home Peng Fei)

South Capital Center of Jinzhengyan-Interpretation of Financial Report Yunye/Author Ying Wei/Risk Control

At present, the discount integration of snack industry is accelerating, and the scale effect is gradually emerging. Looking back on the listing of Liangpin Shop Co., Ltd., a well-known snack manufacturer (hereinafter referred to as "Liangpin Shop"), on February 24, 2020, Liangpin Shop was successfully listed at an issue price of 11.9 yuan/share. On July 15th of the same year, the share price of Liangpin Store reached its peak, which was 85.22 yuan/share. As of January 11th, 2024, the closing price was 19.81 yuan/share, and the share price of Liangpin Store showed a downward trend.

Just one year after listing, the first round of reduction plan was implemented just after the lifting of the ban on the shares of the promoters of Liangpin Store, and 456 million yuan was cashed out. During this reduction period, the share price of Liangpin Store went down, and Liangpin Store bought back shares on bargain hunting to implement the employee stock ownership plan. Since then, its shareholders have frequently reduced their holdings, and there are also real controllers in the ranks of reduction. During the period when relevant shareholders reduce their holdings, the total market value of good shops may evaporate by tens of billions of yuan.

It is worth mentioning that Liangpin Shop claims to expand its business by investing in snack-selling "track" companies. However, in only half a year, it sold all the underlying shares and gained an investment income of about 60 million yuan. In the first three quarters of 2023, the performance of good shops grew negatively year-on-year. In addition, the good shop boasts itself as "the first share of high-end snacks", but its gross profit margin is not as good as that of its peers. On the other hand, the draft employee stock ownership plan of Liangpin Store was hastily revised one day after it was published. The stock price of employees was adjusted from 9.9 yuan to 16.7 yuan per share, and the share payment fee was reduced by more than 20 million yuan.

According to public information, on February 24, 2020, the good shop was officially listed on the main board of the Shanghai Stock Exchange.

It is worth noting that just one year after Liangpin Store landed in the capital market, its shareholders holding more than 5% of shares "threw out" the first round of reduction plan.

On February 27th, 2021, Liangpin Store issued the Announcement of Shareholder’s Shareholding Reduction Plan. The shareholders of Liangpin Store are Zhuhai Gaoying Tianda Equity Investment Management Center (Limited Partnership) (hereinafter referred to as "Zhuhai Gaoying"), HH LPPZ(HK)Holdings Limited (hereinafter referred to as "Hong Kong Gaoying") and Ningbo Gaoying Zhi. These shares are all derived from the shares held by Liangpin Store before its IPO.

According to the Announcement of Shareholder’s Shareholding Reduction Results signed by Liangpin Store on August 28th, 2021, due to their own capital needs, Zhuhai Gaoyou, Hong Kong Gaoyou and Ningbo Gaoyou (hereinafter collectively referred to as "Gaoyou Capital") plan to start from March 2021.The total number of shares of the good shop reduced by centralized bidding from February 22nd to August 26th, 2021 and by block trading or agreement transfer from March 4th, 2021 to August 26th, 2021 shall not exceed 24,060,000 shares, which shall not exceed 6% of the total share capital.

As of August 26th, 2021, when the planned reduction time expired, the shareholder Gao Ying Capital reduced its holdings of 10,776,494 shares of Liangpin Store by means of block trading and centralized bidding, accounting for 2.69% of the total share capital.

The announcement shows thatThe reduction price of Gaoyan Capital this time is 33.07-53.19 yuan/share., reducing the total amount by 456 million yuan.

After the implementation of this reduction plan, Gaoling Capital holds 36,023,777 shares of Liangpin Store, accounting for 8.98% of the total share capital of Liangpin Store at present.

From the time point of view, on February 27, 2021, Liangpin Store announced the first round of shareholding reduction plan of shareholder Gaoying Capital. At this time, Liangpin Store has just been listed for one year, and Gaochun Capital, as a shareholder holding more than 5%, has just lifted the ban.

During the period of Gaochun Capital’s reduction, the stock price of Liangpin Store fluctuated and fell.

According to the data of Oriental Fortune Choice, from February 27th, 2021, the announcement date of Gaoyan Capital Reduction Plan to August 26th, 2021, the stock price of Liangpin Store reached the highest value of 61.71 yuan/share on March 2nd, 2021, and the closing price on that day was 60 yuan/share, and the lowest value was 31.63 yuan/share on July 28th, 2021.

By July, 2021, the first reduction plan of shareholder Gaoyan Capital entered the "end". Compared with the date of the announcement of the reduction plan, the share price of Liangpin Store was close to "waist cut", and at this time Liangpin Store announced the share repurchase plan.

According to the Announcement on Share Repurchase by Centralized Bidding signed by Liangpin Store on July 7, 2021, Liangpin Store held the sixth meeting of the second board of directors and the sixth meeting of the second board of supervisors on July 6, 2021, and reviewed and approved the Proposal on Share Repurchase by Centralized Bidding, agreeing that the company should use its own funds not less than 75 million yuan and not more than 150 million yuan. Buy back the company’s shares by centralized competitive bidding, the repurchase price shall not exceed 69.85 yuan/share (including 69.85 yuan/share), and the repurchase period shall be within 6 months from the date when the board of directors deliberated and passed the share repurchase plan.

The purpose of repurchase is to implement the equity incentive plan or employee stock ownership plan.

According to the Announcement on the Expiration of Share Repurchase Term and the Results of Repurchase Implementation signed by Liangpin Store on January 6, 2022, as of January 5, 2022, Liangpin Store has repurchased 3,016,600 shares through centralized bidding, accounting for 0.75% of the total share capital of Liangpin Store. The highest price purchased is 35 yuan/share, and the lowest price is 31.35 yuan/share.

That is, from July 6, 2021 to January 5, 2022, the share repurchase price of the good shop was 31.35-35 yuan/share.

Compared with the first reduction price range of shareholder Gaoyan Capital, the stock repurchase price of good shops may be at a low level.

As mentioned above, just one year after the listing of Liangpin Store, Gaochun Capital, as a shareholder holding more than 5%, reduced its holdings and cashed in 456 million yuan. In fact, since then, Gaochun Capital has continued to reduce its holdings. Not only that, the second largest shareholder and actual controller of Liangpin Store also took turns to reduce their holdings.

On August 26, 2021, Gaochun Capital completed the first reduction plan for good shops. Less than two months later, Gaochun Capital "stepped into" the second round of reduction plan.

According to the Announcement on the Results of Shareholder’s Shareholding Reduction signed by Liangpin Store on April 9, 2022, due to its own capital needs, Gaoyan Capital plans to reduce its shareholding in Liangpin Store by centralized bidding from October 29, 2021 to April 7, 2022, and by block trading or agreement transfer from October 13, 2021 to April 7, 2022, with a total amount of no more than 24,060,000.

As of April 7, 2022, when the planned reduction time expired, the shareholder Gao Ying Capital reduced its holdings of 5,911,800 shares of Liangpin Store through block trading, accounting for 1.47% of the total share capital of Liangpin Store.

During this reduction, the reduction price of Gaochun Capital was 40-40.81 yuan/share, with a total reduction of 239 million yuan.

After the implementation of this reduction plan, Gaoling Capital holds 30,111,977 shares of Liangpin Store, accounting for 7.51% of the total share capital of Liangpin Store.

Soon, the good shop ushered in the third round of reduction of Gaochun Capital.

According to the Announcement on the Change of Shareholders’ Equity by More than 5% and the Result of Shareholding Reduction signed by Liangpin Store on November 19, 2022, due to its own capital needs, Gaoling Capital plans to reduce the shares of Liangpin Store by centralized bidding from June 14, 2022 to November 20, 2022, and by block trading or agreement transfer from May 26, 2022 to November 20, 2022.

As of November 18, 2022, upon the expiration of this reduction plan, shareholder Gao Ying Capital reduced its holdings of 7,821,956 shares of Liangpin Store by centralized bidding, accounting for 1.95% of the total share capital.

The price of this reduction is 25.47-35.64 yuan/share, with a total reduction of 219 million yuan.

After this equity change, Gaoling Capital holds 22,290,021 shares of Liangpin Shop, accounting for 5.56% of the total share capital.

The reduction is still going on.

According to the Announcement on the Change of Shareholders’ Equity Holding More than 5% and the Result of Shareholding Reduction signed by Liangpin Store on May 20, 2023, from March 14, 2023 to May 19, 2023, Gaoling Capital reduced its shareholding in Liangpin Store by 2,240,021 shares, accounting for 0.56% of the total share capital.

The price of this reduction is 299.3-39.14 yuan/share, with a total reduction of 73.1651 million yuan.

After this equity change, Gaoling Capital holds 20,050,000 shares of Liangpin Store, accounting for 5% of the total share capital of Liangpin Store.

According to the Announcement of Shareholder’s Centralized Bidding and Shareholding Reduction Plan signed by Liangpin Store on June 3, 2023, according to the fund term requirements, the total number of shares of Liangpin Store to be reduced by centralized bidding from June 28, 2023 to September 25, 2023 shall not exceed 4,010,000 shares, which shall not exceed 1% of the total share capital of Liangpin Store. In any continuous 90 days, the total number of shares reduced by centralized bidding transaction shall not exceed 1% of the total number of shares in good shops.

According to the Announcement on the Results of Holding Shares by Centralized Bidding signed by Liangpin Store on October 20, 2023, from June 28, 2023 to September 25, 2023, Gaoling Capital accumulated 4,009,356 shares of Liangpin Store through centralized bidding, accounting for 0.9998% of the total share capital of Liangpin Store.

The price of this reduction is 23.30-26.38 yuan/share, with a total reduction of 99.8484 million yuan.

After this equity change, the proportion of Gaoling Capital holding shares in Liangpin Store is 4.0002%.

As of the inquiry date, January 10th, 2024, Gaochun Capital has no new trend of reducing its holdings.

Looking back on history, Liangpin Store disclosed in the prospectus signed on January 21, 2020 (hereinafter referred to as "the prospectus signed on January 21, 2020") that with the rapid growth of Liangpin Store’s performance and the continuous improvement of brand awareness, investors continued to be optimistic about the future development prospects of Liangpin Store, so in 2017, Liangpin Store received a capital increase of RMB 326,049,500 from shareholders.

Just in 2017, the good shop completed the share reform.

According to the prospectus signed on January 21, 2020, Liangpin Store completed the share reform in December 2017, and was one of the founders of Gaochun Capital.

In other words, Gaochun Capital, as the initiator of share reform, was originally optimistic about the development prospects of good shops. After the lifting of the ban on its shares, it implemented five reduction plans in a row, and even the upper limit of the "card" reduction ratio for the fifth time, reducing the shareholding ratio to less than 5%. This also means that if Gaochun Capital still has a reduction plan, the good shop will not need to make an announcement in advance.

During the period of gaoling capital reduction, the second largest shareholder of Liangpin Store also joined the ranks of reduction.

According to the 2022 annual report of Liangpin Store, by the end of 2022, Dayong Co., Ltd. (hereinafter referred to as Dayong Co., Ltd.) held 121,496,526 shares of Liangpin Store, accounting for 30.3% of the total share capital, making it the second largest shareholder.

According to the Announcement of Shareholder’s Equity Change by 1% and Early Termination of Shareholding Reduction Plan signed by Liangpin Shop on December 2, 2023, Liangpin Shop disclosed the Announcement of Shareholder’s Shareholding Reduction Plan on May 18, 2023. Due to its own capital requirements, Dayong Co., Ltd. plans to reduce the total number of shares in Liangpin Store by centralized bidding or block trading to no more than 24,060,000 shares, which is no more than 6% of the total share capital. The reduction period of Dayong Limited through centralized bidding transaction is within 6 months after 15 trading days from the date of announcement of the reduction plan; The reduction period by block trading is within 6 months after 3 trading days from the date of announcement of the reduction plan.

From May 25, 2023 to November 29, 2023, Dayong Limited reduced its holdings by 17,040,000 shares through centralized bidding and block trading, accounting for 4.25% of the total share capital.

The price of this reduction is 19.46-28.53 yuan/share, and the total amount of reduction is 404 million yuan. After the reduction, Dayong Limited holds 26.05% of the shares.

In addition, the original concerted action of the good shop also participated in the reduction.

According to the 2022 annual report of Liangpin Shop, by the end of 2022, the controlling shareholder of Liangpin Shop was Ningbo Hanyi Venture Capital Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Hanyi"). Ningbo Liangpin Investment Management Co., Ltd. (hereinafter referred to as "Ningbo Liangpin"), Ningbo Hanliang Qihao Investment Management Partnership (limited partnership), Ningbo Hanlin Zhihao Investment Management Partnership (limited partnership) (hereinafter referred to as "Ningbo Hanlin"), Ningbo Hanning Beihao Investment Management Partnership (limited partnership), Ningbo Hanning. Yang Hongchun, Yang Yinfen, Zhang Guoqiang and Pan Jihong are the actual controllers of Liangpin Store. Among them, Yang Hongchun is the chairman and general manager of Liangpin Store.

According to the Prompt Announcement on Dissolving the Relationship of Concerted Action between Controlling Shareholders and Some Concerted Actions signed by Liangpin Store on March 7, 2023, Liangpin Store received the notice of dissolving the relationship of concerted action from Ningbo Hanyi, the controlling shareholder, Ningbo Liangpin, Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang on March 6, 2023. After all partners reached a consensus, Ningbo Hanliang, Ningbo Hanlin and Ningbo Hanliang recently.

Since Yang Hongchun no longer serves as the executive partner of Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang, the relationship between Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang and Ningbo Hanyi and Ningbo Liangpin is dissolved, Ningbo Hanyi and Ningbo Liangpin are still acting in concert.

In short, Yang Hongchun, the real controller of Liangpin Store, was originally an executive partner of Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang, and therefore formed a concerted action relationship with Ningbo Hanyi, the controlling shareholder. By March 2023, Yang Hongchun no longer served as the executive partner of the above four institutions, so the relationship of concerted action was dissolved.

According to the Announcement of Shareholder’s Shareholding Reduction Results signed by Liangpin Store on December 7, 2023, from June 9, 2023 to December 5, 2023, Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang reduced their shareholdings by 6,015,000 shares through centralized bidding, accounting for 1.5% of the total share capital.

The reduction price is 19.28-25.44 yuan/share, and the total reduction amount is 140 million yuan.

After the implementation of this reduction plan, Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang jointly held 9,742,651 shares of Liangpin Store, accounting for 2.43% of the total share capital.

It should be noted that according to the data of the Market Supervision Administration, as of the inquiry date of January 10th, 2024, Yang Hongchun’s shareholding ratio for Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang all exceeded 40%, making him the largest shareholder.

It can be seen that the controlling shareholder has dissolved the relationship of concerted action with Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang. Judging from the shareholding ratio of the partners of the above-mentioned enterprises, the actual controller Yang Hongchun may be the "main force" for this cash.

According to the data of Oriental Fortune Choice, from the date of the announcement of the first round of reduction plan of Gaochun Capital to the date of the expiration of the reduction period of shareholders such as Ningbo Hanliang, the stock price of Liangpin Store reached the highest point on March 2, 2021, with a closing price of 60 yuan/share and a total market value of 24.06 billion yuan. As of December 5, 2023, the stock closing price of Liangpin Store was 24.65 yuan/share, with a total market value of 9.885 billion yuan.

It is estimated that the total market value of good shops may have evaporated by 14.175 billion yuan during the period when the above shareholders reduced their holdings.

The decline of stock price is influenced by many factors, such as the performance change of listed companies, shareholder reduction and so on. After the lifting of the ban on the shares held by the above shareholders, the market value of good shops evaporated by tens of billions of yuan, and how did the frequent reduction of shareholders affect it?

In recent years, convenience stores and snack shops that mainly serve community users have achieved rapid growth with richer products, better consumption experience and higher cost performance, and have become an important force to promote the development and growth of the snack industry.

According to the record of investor relations activities of Liangpin Store in August, 2023, regarding the issue of "measures to deal with competition in the development of volume distribution channels",One of the measures that the good shops responded to was to actively expand the discount snack business by investing in "Snack Stubborn Home" and "Zhao Yiming Snacks".

According to the public information of Black Ant Capital’s WeChat public platform on March 7, 2023, in March 2023, Zhao Yiming Snacks, a snack collection store brand, completed a series of financing of 150 million yuan, which was led by Black Ant Capital and followed by good shops.

According to the public information of Zhao Yiming Food official website, in January 2019, the "Zhao Yiming Snacks" brand was established and the first direct store opened. In October 2019, the first franchise store opened. In October 2022, the total number of "Zhao Yiming Snacks" nationwide exceeded 500. In February 2023, the total number of stores in China exceeded 1,000. In August 2023, the total number of stores in China exceeded 2,000.

Only three years after the establishment of the brand, the number of "Zhao Yiming Snacks" stores has exceeded 2,000, and the development speed is obvious.

However, while the brand of "Zhao Yiming Snacks" is growing rapidly, Liangpin Store only invested in Zhao Yiming Food for half a year, and then sold the underlying equity.

According to the Announcement on Sale of Assets by Wholly-owned Subsidiaries signed by Liangpin Shop on October 17th, 2023, Ningbo Guangyuan Juyi Investment Co., Ltd., a wholly-owned subsidiary, intends to transfer its 3% equity of Yichun Zhao Yiming Food Technology Co., Ltd. (hereinafter referred to as "Zhao Yiming Food") to Shanghai Yihai Enterprise Management Consulting Partnership (Limited Partnership) and Xiamen Heiyi No.3 Overseas Connection Venture Capital Partnership (Limited Partnership) at a total price of about 105 million yuan.

According to this announcement, after the completion of this transaction, Liangpin Store will no longer hold the equity of Zhao Yiming Food, and at the same time, it is expected to generate an investment income of about 60 million yuan in the current period at the consolidated statement level due to the sale of the equity of Zhao Yiming Food.

That is to say, in the face of the rapid growth of snack distribution channels, Liangpin Store declared to investors that it would expand its business by investing in Zhao Yiming Food, but in only half a year, Liangpin Store "hastily" transferred its equity in Zhao Yiming Food, thus obtaining an investment income of about 60 million yuan. In this case, is the good shop investing in Zhao Yiming Zero Food out of business layout or financial investment?

As mentioned above, at the "end" of the first round of the shareholding reduction of Gaochun Capital, the good shops "buy back the shares on dips" for the employee stock ownership plan.

The implementation of employee stock ownership plan can bind the interests of employees with the interests of the company, improve the enthusiasm of employees and create more profits for the company. Therefore, there are certain assessment conditions for the granting and unlocking of equity.

According to the Employee Stock Ownership Plan (Revised Draft) in 2023, the underlying stocks obtained by the employee stock ownership plan will be unlocked by stages 12 months after the last underlying stock of Liangpin Store is transferred to the name of the employee stock ownership plan. The specific arrangements are as follows:

The first batch of unlocking time: it is 12 months from the date when the last target stock of Liangpin Store is transferred to the name of this employee stock ownership plan, and the number of unlocked shares is 33% of the total number of target stocks held by this employee stock ownership plan.

The second batch of unlocking time: 24 months from the date when the last target stock of Liangpin Store was transferred to the name of this employee stock ownership plan, and the number of unlocked shares is 33% of the total number of target stocks held by this employee stock ownership plan.

The third batch of unlocking time: it is 36 months since the last target stock of Liangpin Store was transferred to the name of this employee stock ownership plan, and the number of unlocked shares is 34% of the total number of target stocks held by this employee stock ownership plan.

If the performance appraisal indicators at the company level corresponding to the first batch are not reached, the corresponding rights and interests shall not be unlocked, and the related rights and interests shall be recovered by the management committee at the original investment amount of the underlying stock corresponding to the share, and the management committee shall dispose of the recovered related rights and interests according to the plan approved by the board of directors. There is no company-level performance appraisal in the second and third unlocking periods of this employee stock ownership plan.

With regard to company-level performance assessment, based on the operating income or net profit value in 2022, the operating income growth rate or net profit growth rate of the assessment year, that is, the operating income or net profit value in 2023, is assessed.

That is, the growth rate of operating income or net profit in 2023 is higher than 20%, and the unlockable ratio at the company level is 100%; If it is higher than 16% but lower than 20%, the unlocking ratio is 80%; If it is less than 16%, the unlocking ratio is 0%.

It should be noted that the above-mentioned "net profit" refers to the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses.

Looking back to the performance level of good shops.

According to the data of Oriental Fortune chioce, from 2019 to 2022 and from January to September in 2023, the operating income of good shops was 7.715 billion yuan, 7.894 billion yuan, 9.324 billion yuan, 9.44 billion yuan and 5.999 billion yuan respectively, with year-on-year growth rates of 20.97%, 2.32%, 18.11% and 5.999 billion yuan respectively.

In 2019-2022 and January-September 2023, the net profit of Liangpin Store after deducting non-recurring gains and losses from shareholders of listed companies was 274 million yuan, 275 million yuan, 206 million yuan, 209 million yuan and 122 million yuan respectively, with year-on-year growth rates of 31.78%, 0.57%, -25.15% and 1.2 million yuan respectively.

It is not difficult to see that in 2019, the performance of good shops was in a relatively "highlight moment", and the growth rate of revenue and net profit exceeded 20%. The following year, its performance growth slowed down. In 2021, there was no increase in income, but it increased slightly in 2022. By January to September 2023, its performance both fell into negative growth.

In this case, is it difficult for employees of good shops to unlock the corresponding performance appraisal indicators in the first batch of shares? The answer may be known after the announcement of the 2023 annual performance of Liangpin Store.

In addition, good shops boast of "the first share of high-end snacks", but the gross profit margin is not optimistic.

According to the semi-annual report of Liangpin Store in 2023, Liangpin Store said that it landed in the capital market as the first "cloud-listed" enterprise of Shanghai Stock Exchange in 2020 and became the first "high-end snack" in China. In addition, the good shop quoted the data of the "2022 Snack Market Research Report" of the China National Business Information Center, and disclosed that from 2015 to 2022, it led the domestic high-end snack sales for eight consecutive years.

However, the gross profit margin of good shops since listing may still be less than the average of peers.

According to the prospectus signed on January 21st, 2020, the comparable companies in the same industry of Liangpin Store include Shanghai Laiyifen Co., Ltd. (hereinafter referred to as Laiyifen), Haoxiangni Healthy Food Co., Ltd. (hereinafter referred to as Haoxiangni), Three Squirrels Co., Ltd. (hereinafter referred to as "Three Squirrels") and Yanjinpu Food Co., Ltd. (hereinafter referred to as "Yanjinpu Store").

According to the annual report of Liangpin Store in 2020-2022, the gross profit margin of Liangpin Store’s main business in 2020-2022 was 27.45%, 26.98% and 27.67% respectively.

According to the above-mentioned annual reports of comparable companies in the same industry and the data of Oriental Fortune Choice, from 2020 to 2022, the gross profit margin of your main business is 17.76%, 25.03% and 22.69% respectively. The gross profit margin of the main business in Iraq is 42.13%, 42.46% and 41.92% respectively; The gross profit margin of the main business of the three squirrels is 23.9%, 29.38% and 26.74% respectively; The gross profit margin of Yanjin Shop’s main business is 43.83%, 35.71% and 34.72% respectively.

It is estimated that the gross profit margin of the main business of the above-mentioned comparable companies in the same industry will be 31.91%, 33.15% and 31.52% respectively from 2020 to 2022, which is higher than the gross profit margin of the main business of Liangpin Store in the same period.

It can be seen that in 2020-2022, the gross profit margin of the main business of good shops was lower than the average of peers. Therefore, does the gross profit margin level of the above-mentioned main business of Liangpin Shop contradict with the "high-end" positioning?

Continue to pay attention to the employee stock ownership plan of the good shop.

According to the announcement signed by Liangpin Store on January 12, 2023, Liangpin Store held the first employee representative meeting, the 18th meeting of the second board of directors and the 14th meeting of the second board of supervisors in 2023 on January 11, 2023, and deliberated and passed the Proposal on the Company’s Employee Stock Ownership Plan (Draft) in 2023 and the Administrative Measures on the Company’s Employee Stock Ownership Plan in 2023.

On the signing date of the above announcement, Liangpin Store also announced the 2023 Employee Stock Ownership Plan (Draft), and the price of the shares repurchased by Liangpin Store in the employee stock ownership plan is 9.9 yuan/share. The total number of employees participating in this employee stock ownership plan shall not exceed 90.

Among them, there are 9 supervisors and senior managers, namely, Li Haohao, Jia Liming, Liu Ling, Jin ‘an, Xu Ran, Ke Bingrong, Xuanmingfeng, Ma Teng and Wan Zhang Nan, and their total share accounts for 37.84% of the total planned share. The total share of other middle and senior managers and core professionals accounts for 62.16% of the total planned share.

The source of the underlying stock involved in this employee stock ownership plan is the common stock of Liangpin Store.

As for the share payment fee, it is assumed that the employee stock ownership plan will transfer 3,016,600 shares of Liangpin Store held in the special securities account for Liangpin Store repurchase to the employee stock ownership plan by means of non-transaction transfer at the end of February 2023, with the closing price of Liangpin Store on January 11, 2023 (35.35 yuan/share) as the forecast, and the share payment fee will total 76,772,500 yuan.

Oddly, the next day, Liangpin Store revised the 2023 Employee Stock Ownership Plan (Draft), which was reviewed and approved by the Board of Directors and the Board of Supervisors.

According to the "2023 Employee Stock Ownership Plan (Revised Draft)" signed by Liangpin Store on January 13, 2023, after the revision of the draft, the price of the stock repurchased by the employee stock ownership plan is 16.7 yuan/share. The upper limit of the share to be held by the incentive object is increased, and the corresponding proportion of the total share of the plan remains unchanged.

Assume that the employee stock ownership plan will transfer 3,016,600 shares of Liangpin Store held in the special securities account for Liangpin Store repurchase to the employee stock ownership plan at the end of February 2023 by means of non-transaction transfer and other laws and regulations, and the stock payment fee will be 53,031,800 yuan based on the closing price of Liangpin Store shares on January 12, 2023.

In other words, after the price changes, the calculated share payment fee disclosed by the good shop may be reduced by RMB 23,740,700.

On September 10th, Guangzhou Automobile Chuanqi E8+ MPV went on the market today, and launched three models: MAX+version, Longteng Guanghui+and Longteng Starry Night+version, with the price range of 232,800-238,800 yuan. The new car is based on the electronic and electrical architecture of GAC Spirit, and the appearance and interior design have not changed much, but the configuration has been greatly improved. The new car is equipped with ADiGO driver assistance system, and the comfort configuration is optimized, such as standard steering wheel heating, rear small table board and two rows of zero-gravity seats.

In addition, Chuanqi E8+also introduced preferential policies for car purchase. From now until September 30th, you can enjoy the comprehensive rights and interests of up to 30,000 yuan under the order of Chuanqi E8+. When you buy Chuanqi E8 Longteng+,you can also get a "refrigerator color TV" boutique set worth 10,000 yuan. Chuanqi E8 old car owners can enjoy the suit at half price.

IT House noticed that the appearance of Chuanqi E8+series has not changed much compared with E8 series, and it still adopts the design of split light group and through LED daytime running lights. The front grille is designed without a frame, with a patchwork of banners in the middle net, and the front enclosure is equipped with LED light groups arranged vertically on both sides.

The side of the car body maintains the traditional MPV structure, with 18-inch seven-spoke wheels and chrome-plated side skirts. The new car is equipped with double side sliding doors, with a body size of 4920/1900/1760mm and a wheelbase of 2930mm. The rear is equipped with a roof spoiler and a blackened through taillight group.

In terms of interior, the new car is equipped with an 8.88-inch full LCD instrument panel and a three-spoke multi-function steering wheel. The center console is equipped with a 14.6-inch multimedia touch screen, equipped with an 8155 chip and a car voice wake-up function. The channel area of the center console is equipped with electronic key shift mechanism, wireless charging panel and double cup holder, and the overall stepped design makes the new car more atmospheric. The new car can also be equipped with HUAWEI HiCar mobile phone interconnection box.

In terms of comfort configuration, the new car comes standard with steering wheel heating, automatic anti-glare interior rearview mirror, front seat ventilation and heating, ambient light, rear small table board, two rows of zero-gravity seats, rear sound insulation glass and manual side window sunshade. The new car still adopts a 7-seat layout, and the trunk volume is 345-1917 liters.

In terms of intelligent configuration, the new car has added the functions of fatigue driving monitoring, door opening warning and rear anti-collision warning. As standard, the front and rear parking radars are upgraded to 13 ultrasonic radars and 2 millimeter-wave radars. In terms of intelligent driving system, the new car has added ADiGO driver assistance system, which comes standard with parallel assistance, lane centering and reversing side warning. Voice wake-up recognition is increased to four areas.

In terms of power, the new car still adopts a hybrid system consisting of a 2.0L four-cylinder engine and an electric motor. The maximum power of the engine is 103 kW and the maximum torque is 180 Nm. The front motor has a maximum power of 134 kW and a maximum torque of 300 Nm. The battery adopts liquid-cooled ternary lithium battery pack, and the battery energy is 25.57kWh. Under CLTC working condition, the pure electric cruising range is 150 kilometers, and the comprehensive cruising range is 1200 kilometers. The new car supports fast charging and is equipped with 3.3 kW external discharge function.

In recent years, the SUV market has grown rapidly, showing a hot trend of continuous growth for several years, reflecting the good development trend and prospects of the SUV market. Under such a rapid growth situation, many manufacturers have participated in the competition in the SUV market, and the SUV market has become a battleground for military strategists.

Over the years, FAW Mazda’s product line has mainly focused on cars, with a single model. Although Mazda8, an MPV model, was added in 2010, there has been a lack of a domestic SUV model, which has affected and restricted the sustainable development of the enterprise. The listing of MazdaCX-7 just fills this gap and perfects the product line of FAW Mazda. Since then, FAW Mazda has the capital to wrestle with the future in all fields.

Inheriting the essence of Mazda brand/

At the beginning of MazdaCX-7 research and development, Mazda’s goal was to develop a "distinctive SUV", and "sports car" became a distinctive breakthrough. MazdaCX-7 combines many advantages of SUV, such as "high passability, practical convenience, large space and high sitting posture", and also integrates personality characteristics such as "the shape of sports car, the speed of fast galloping and the motion control characteristics of safe driving", which is endowed with completely different value elements from competitors.

At first glance, MazdaCX-7 is full of charm. From the appearance, MazdaCX-7 is like an eagle flying with wings, full of "movement" and "vitality", reflecting a kind of wild power beauty, which is exactly consistent with the aesthetic taste pursued by its target consumers. Therefore, it is easy to resonate between people and cars. Not only that, Mazda brand embodies a finely crafted craftsman spirit in its bones, and it is this craftsman spirit that gives MazdaCX-7 a very exquisite inner charm.

Although MazdaCX-7 is still an SUV, it inherits Mazda’s persistent pursuit of control and driving pleasure. In fact, its characteristics are more in line with the concept of "SportsCrossoverSUV" and concentrate the advantages of sports cars, SUVs and cars. MazdaCX-7′ s power system is further implanted with MPS2.3T engine from Mazda legend and timely four-wheel drive system with electronically controlled intelligent torque distribution. Obviously, it inherits Mazda’s brand essence.

The charming "SUV control king"/

Driving MazdaCX-7 on the road will attract the attention of many passers-by, because MazdaCX-7 has such a special sports car shape design. Of course, the sporty appearance of MazdaCX-7 is not only pleasing to the eye, but also very practical. For example, the front windshield with an included angle of 65.5 degrees makes the drag coefficient of MazdaCX-7 as low as 0.34, which not only improves the handling performance, but also effectively reduces the fuel consumption. Such practical and advanced modeling design adds the smoothness and dynamics of MazdaCX-7 body.

Another highlight of MazdaCX-7 is its excellent handling, which can be described as "SUV control king". Take the 2.3T four-wheel drive as an example. The 2.3T engine originated from MPS is very powerful, and it has won the top ten engines of Ward for three consecutive years. With the perfect cooperation of timely four-wheel drive system, MazdaCX-7 has excellent acceleration performance. In addition, the chassis of MazdaCX-7 is a special SUV chassis, which is different from other SUV brands that are mostly cars and SUVs. Obviously, MazdaCX-7 has better stability. The MazdaCX-7′ s highly rigid body brings it more accurate cornering performance than the general SUV.

After the intense and busy work, driving MazdaCX-7 in the urban jungle and Shan Ye coast, and enjoying the relaxed and comfortable driving, you can realize the excellent dynamic performance brought by MazdaCX-7′ s leapfrog power, timely four-wheel drive system, special SUV chassis and four-wheel independent suspension system for drivers and passengers, so that you can truly appreciate the charm of SUV control king.

Not only that, MazdaCX-7, the "SUV control king", also has a convenient and flexible mechanism and configuration for car owners. As a medium-sized SUV, MazdaCX-7 has a large comfortable space that can easily accommodate four adult passengers. RelaxbutSportyCockpit, a relaxing and dynamic theme design, can bring abundant driving passion to drivers and make passengers feel relaxed and comfortable.

Compact pricing of medium-sized SUVs highlights the ambition to enter the market/

At present, the domestic SUV market presents a pattern that compact SUVs account for a relatively large proportion and medium-sized SUVs account for a relatively small proportion. But the medium-sized SUV represents the development trend of SUV in the next few years. As a typical medium-sized SUV, the listing price of MazdaCX-7 is set at 199,800 ~ 273,800 yuan, which is equivalent to the price of compact SUV. The establishment of this pre-sale price range actually reflects FAW Mazda’s "smart" market plot: based on the medium-sized SUV market, seize the market space of compact SUV, and hope to make a breakthrough in both the medium-sized SUV and the compact SUV market.

Compared with medium-sized SUVs, MazdaCX-7 has outstanding personality value in dynamic sports car modeling, excellent handling and comfort. Under the condition of ensuring high performance and high quality of medium-sized SUVs, MazdaCX-7 shows the advantage of "king of cost performance" with the price of compact SUVs. In this way, Mazda CX-7 can make great achievements in the medium-sized SUV market and lead the medium-sized SUV market.

Compared with the compact SUV, MazdaCX-7 shows the outstanding advantages of "Big One" in vehicle size and interior space, and shows the powerful momentum of "Strong One" in power, while it has the absolute domineering of "High One" in configuration and safety. At the same time, this pre-sale price range can also reflect the foresight of the "king of cost performance" and highlight FAW Mazda’s ambition for the compact SUV market.

It is not difficult to see that FAW Mazda’s strategizing in the pricing process of MazdaCX-7 and its shrewdness in grasping the market just right, among which, it has both the determination to base itself on the medium-sized market and the ambition to acquire the compact market, which is really a wonderful move. It can be predicted that with the support of this market pricing strategy, it will undoubtedly be a strong guarantee for MazdaCX-7 sales.

CCTV News:The annual meeting of 2023 Financial Street Forum was held in Beijing today (November 8). At the annual meeting, China Yi Huiman, Chairman of China Securities Regulatory Commission said that risk prevention is the main goal of strengthening supervision, and strengthening supervision is an effective way to prevent risks, both of which are important guarantees for achieving high-quality development.

According to the development law of capital market and the supervision practice in recent years, China and Yi Huiman, Chairman of China Securities Regulatory Commission summarized the causes of capital market risks into five aspects: excessive leverage or even out of control, imbalance between innovation and supervision, fraud, breach of trust and absence of main responsibility. He pointed out that it is the first duty and statutory duty of the CSRC to strengthen the supervision of the capital market, safeguard the "three public" order of the market and the legitimate rights and interests of investors, and prevent and resolve financial risks.

Yi Huiman, Chairman of China Securities Regulatory Commission:We adhere to the supervision concept of "respecting the market, respecting the rule of law, respecting the profession, respecting the risks, and giving full play to the joint efforts of all parties", adhere to the main business of supervision, and pay attention to the following principles: First, adhere to the principle of "only by seeing clearly can we manage it" and promote innovation under the premise of prudent supervision. The second is to guard against excessive leverage and gradually reduce the scale and level of leveraged funds to a reasonable range. Third, "zero tolerance" has cracked down on all kinds of chaos and reversed the long-standing situation that the illegal cost of securities is too low. The fourth is to adhere to the blade inward and self-revolution.

The reform of the registration system is by no means deregulation.

Regarding the reform of the registration system, China Yi Huiman, Chairman of China Securities Regulatory Commission said that the reform of the registration system is by no means a relaxation of supervision, but a better combination of an effective market and a promising government.

Yi Huiman, Chairman of China Securities Regulatory Commission:After the implementation of the (registration system) reform, supervision has become stricter, and the most prominent performance is the improvement of transparency. This promotion comes from the openness of the whole process of audit and registration, accepting the supervision of the whole society, and from the supervision covering the whole chain before and after the event, which urges enterprises to fully disclose information and compact the responsibility of intermediary agencies as "gatekeepers". Through reform, the basic system of capital market is comprehensively strengthened, especially the level of rule of law is further improved.

Yi Huiman said that in the next step, we will continue to promote the stock issuance registration system.

Yi Huiman, Chairman of China Securities Regulatory Commission:Dynamically evaluate and optimize institutional arrangements such as pricing, reduction and refinancing. At the same time, we will vigorously promote the reform of the investment side, promote the implementation of various supporting policies for medium and long-term capital entering the market, accelerate the cultivation of "smart funds" in China, promote the strengthening of industry institutions, effectively enhance professional investment capabilities and market leadership, and take our own path.

Yi Huiman said that the healthy development of the real economy is the foundation for the smooth operation of the capital market. The CSRC will adhere to the fundamental purpose of serving the real economy, and focus on doing the "five major articles" on technology and finance, green finance, inclusive finance, pension finance and digital finance, so as to give full play to the hub function of the capital market and serve the overall situation of Chinese modernization more effectively.