In the past 12 hours, what are the global film and television news worthy of attention? Time network selects your major.

Mr. Bean fights annoying bees! Rowan Sebastian Atkinson CBE starred in the comedy series "The Man Comes to the Bee" (in Chinese characters), which tells the story that the man played by Bean tried every means to kill the bee, even at the expense of "tearing down the house" and swore an oath to the bee. Netflix was launched on June 24th.

02. The freshness of rotten tomatoes in Tom Hanks’ new film Elvis Presley is 82%.

Baz luhrmann directed Moulin Rouge and The Great Gatsby, and Elvis Presley, a biopic starring austin butler and Tom Hanks, premiered in Cannes, and the word-of-mouth of foreign media was lifted. At present, the freshness of rotten tomatoes is 82%, and the average MTC score is 61. Most of them are positively evaluated by the media, and the film’s audio-visual pleasure and sincere expression are recognized.

Excerpts from media evaluation:

Entertainment Weekly: The film is not blindly realistic (not the typical biographical film from birth to old age), but just like velvet goldmine, the film has achieved something more subtle and valuable, and portrayed the radical cultural change with resonance.

Hollywood Reporter: Director Luhrmann’s taste in popular wonders is obvious from beginning to end. The film shines brilliantly in dramatic skills, entertaining performances and highly plot-oriented moments.

Variety: Ruchman made a regrettable, imperfect but occasionally fascinating film, creating something moving and real.

03. "Top Gun 2" is expected to set a painting record for Tom cruise’s works.

On May 27th, North America will officially welcome the blockbuster Top Gun 2 starring Tom Cruise. Foreign media predicted that the box office of this film was about 92 million US dollars in the first four days in North America (soldiers killed day holiday), and it was 180 million US dollars in the first weekend in the world, which may create the highest opening record of Tom cruise’s works! At present, the freshness of rotten tomatoes in Top Gun 2 is 97%(206 reviews), and the popcorn index of the audience is as high as 99%. Paramount, the publisher, is confident that there are 4,727 painting theaters in North America, more than 4,336 theaters in Spider-Man: No Return of Heroes and 4,534 theaters in Doctor Strange 2.

04. Judy Foster will play the fourth season of Detective.

Jodie Foster will star in the fourth season of the hit crime drama "Detective", which is under development in HBO and has not been officially booked. The latest story is also exposed. It seems that two female police detectives have cracked the frozen mystery. This season is called "True Detective: Night Country", which is set in Alaska in the long night. Six men running Tsalal Arctic Scientific Research Station suddenly disappeared. Two detectives, Liz Danvers and Evangeline Navarro, have to face their dark side and try to dig out the truth buried under the eternal ice.

05. Indiana Jones 5 released its first stills.

Raiders of the Lost Ark 5 released its first stills, and Harrison Ford returned many years later to continue his adventure. The film was directed by James Mangold, director of Wolverine 3 and King of Fast Cars, with new stars such as Phoebe Waller-Bridge, mads mikkelsen, antonio banderas, boyd holbrook, Thomas Kretschmann and Chanette Renee Wilson. John williams’s Return to Music, produced by Spielberg, kathleen kennedy, Frank Marshall and Simon Emanuel, released in North America on June 30th, 2023.

06. Jude Law will star in the Star Wars derivative drama "Key Crew".

Jude Law will star in Skeleton Crew, a spin-off of Star Wars. The play was created by Jon Watts, director of the new Spider-Man trilogy, and Christopher Ford, screenwriter of The Return of Heroes, and executed by jon favreau. It is set in the era of the New Republic and tells the story of a group of children lost in the Star Wars galaxy trying to find their way home. Shooting starts this summer and will be broadcast next year.

07. The Star Wars derivative drama Amdo issued a notice and poster.

Amdo, a new spin-off drama of Star Wars, was announced. Amdo, the role of diego luna in Star Wars: Grand Theft Auto I, returned, focusing on the spy’s early story, and announced that it would start broadcasting on August 31st this year, with Stellan Skarsgard and Adria Arjona also starring. Describing the journey of emerging rebels against imperial forces, Amdo found that he could make some changes. In an era full of danger, deception and conspiracy, he was destined to embark on a road of becoming a rebel hero. There are two seasons and 12 episodes in each season. The first season has been finished, and the story is set in the first five years of Grand Theft Auto. The Mandalorian also announced that the third season will start in February next year.

01. "Nezha’s Devil Children Make a Sea" released a pilot poster.

A few days ago, Ne Zha, the domestic box office champion of animated films, exposed a concept map in the sequel "Nezha’s Devil Children Making a Sea". It is reported that the film was officially launched on May 24th. The film is still directed and written by jiaozi. According to the filing information of the film in the Film Bureau, the plot of "The Devil’s Children in Nezha Naughty the Sea" is that after the Armageddon, the souls of Nezha and Ao Bing are saved, but the flesh will soon be past. Taiyi real person intends to reshape the flesh of the two with seven-color lotus. However, there are many difficulties in the process of remolding the flesh. Where will the fate of Nezha and Ao Bing go?

02. The key of Miracle Stupid Child has been extended again.

The key of the Spring Festival movie Miracle Stupid Child directed by Muye Wen and starring Jackson Yee was postponed again, and the official announcement was extended to June 30th.

01. Senior actor ray liotta passed away.

Veteran actor ray liotta (Boy, Identity and Marriage Story) died at the age of 67. Suddenly, many media exposed the photos of his last appearance: street shooting with his fiancee Jacy Nittolo near his home in California earlier this month, which looked quite everyday and comfortable. However, life is impermanent. In the middle of this month, Lyota went to the Dominican Republic to shoot a new film "Dangerous Waters", and died in his sleep in his hotel room on Wednesday night or early Thursday morning. The cause of death is still unknown, and his fiancee Nittolo was also filming with him locally.

On October 18th, a dynamic hatchback GT car was officially launched, and it is the Seal 06 GT under BYD Ocean Network. In contrast, the Seal 06 GT car has attracted the attention of many consumers, and the fundamental reason is that this car has a sporty appearance. Of course, the seal 06 GT, which is located in the B-class hatchback, also has a good performance in space, so let’s learn more about the performance of this seal 06 GT.

First of all, from the perspective of price and product configuration distribution, the price range of Seal 06 GT is set at 136,800-186,800 yuan, and four different configurations are given. However, it should be noted here that the low-equipped, medium-equipped and high-equipped versions of Seal 06 GT all adopt the layout of rear single motor, and only the top-equipped version of Seal 06 GT is a system, so if you are pursuing the handling and strong power performance brought by Seal 06 GT, you can only feel it from the top-equipped model with a price of 186,800 yuan.

Then, from the objective book parameters, the acceleration time of the three rear-drive models of Seal 06 GT is 7.5 seconds, among which the low-equipped and medium-equipped models are equipped with battery packs with a capacity of 59.52kWh, and the corresponding motor power comes to 160kW, and the pure electric cruising range is 505 kilometers. For the long-life version of Seal 06 GT, the battery capacity of the car has increased to 72.96kWh, and at the same time, in order to make the long-life model have the acceleration ability of 7.5 seconds, the motor power of this car has reached 165kW.

As for the four-wheel drive version of Seal 06 GT, in contrast, the total motor power of the car reached 310kW, and the total torque of 510N·m also made the car run 4.9 seconds in the acceleration test of 0-100 km/h. At the same time, the four-wheel drive version of Seal 06 GT is also equipped with a battery pack with a capacity of 72.96kWh, but the car’s pure electric cruising range is only 550 kilometers. In addition, it should be noted that the Seal 06 GT equipped with a large-capacity battery pack is built on an 800V high-voltage platform, which also enables the car to achieve a maximum charging power of 200kW under the DC fast charging condition.

In terms of chassis suspension, Seal 06 GT gives the structure of front McPherson and rear five-link. Although the zero-hundred-speed acceleration of the ordinary version is only 7.5 seconds, from the dynamic performance of the whole chassis, it can really bring a good driving and control experience. In contrast, the chassis adjustment of Seal 06 GT has certain toughness, which is in line with the current soft and hard style with higher favorable rate. At the same time, coupled with the axle length ratio of more than 60%, the whole car will feel close to the ground when driving, and the stability and flexibility of the whole car are also very good under the working conditions of emergency lane change and high speed cornering. In addition, for the top version of Seal 06 GT, this car is given FSD variable damping shock absorber, so when passing through some potholes, the chassis of the whole car will get better vibration filtering performance, and at the same time it will get good support at high speed.

Finally, from some basic configurations, Seal 06 GT comes standard with 11 airbags, so the safety of the whole vehicle is still guaranteed. However, for the entry-level version of SEAL 06 GT, there is no L2-class driver assistance system in this car, and the active safety configuration is only the basic body stability system, ABS anti-lock braking and so on. Fortunately, 360 panoramic images are standard, as well as front seat electric adjustment, front double-decker sound insulation glass and in-vehicle 5G network, etc., which can also enhance the user’s car experience.

Edit summary

To sum up, as an electric car that is more in line with the "taste" of young people, it is not difficult to find that the endurance is not the advantage of the Seal 06 GT. At the same time, in terms of the 7.5-second acceleration of the rear-drive version, the Seal 06 GT can only be regarded as a hatchback with a relatively moving shape. So in general, if you are designed for the appearance of Seal 06 GT, then the sports atmosphere of hatchback GT model, combined with the B-class car space with a wheelbase of 2820mm and some driving pleasure brought by rear wheel drive, can be regarded as a daily household shopping scooter. However, if you are aiming at the performance and control of Seal 06 GT, you can only look at its top version (four-wheel drive), and the price of 186,800 yuan will discourage many people.

Recently, Running Bar 2024, a popular domestic variety show, officially announced its list of permanent guests. This season’s permanent guests include Jerry Lee, Ryan, Sha Yi, Adam, YUQI, Bailu, Charlie and Zhang Zhenyuan. Compared with last season’s lineup, the 2024 version of Running Bar, although slightly changed, still maintains a high appreciation and interest.

Angelababy, a veteran resident guest, quit the recording of 2024 Running Bar for some reason, while Zhang Zhenyuan, a participant in the special season recording, successfully became a regular guest. Although there are many rumors about the reasons for Angelababy’s withdrawal, it is undeniable that this is undoubtedly a huge loss for her, because running has always been an important platform for her to gain a lot of attention and fans. For Zhang Zhenyuan, it is undoubtedly an important opportunity for his career development to successfully join such a most popular variety show in China.

In addition, Charlie, White Deer, Adam and others will continue to participate in the recording of Running Bar in 2024, which makes the jokes in the program still sufficient. However, for Running Bar 2024, the most regrettable thing may be the absence of Angelababy. As a veteran guest, she played an important role in the program and made great contributions to the success of the program. Now, she will be absent from the recording of the program in 2024, which is undoubtedly a regrettable news.

According to netizens, the recording location of the first stop of Running Bar in 2024 may be located in Guangxi. At the same time, some netizens showed photos of the scene, and there were venues to prepare for the recording. According to the current recording arrangement, we expect to meet you in May 2024.

On the whole, Run! The lineup of permanent guests in 2024 is still worth looking forward to. As for flying guests, do you have any expectations or suggestions? Let’s look forward to the wonderful performance of running in 2024!

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Editor in charge:

The 1998 edition of "Water Margin" is about to close on the channel "Revisiting Classics". In order to show the heroes of Liangshan vividly in 43 episodes, the creative team of that year carefully carved and improved every link from creative conception to script rhythm, from art modeling to sound soundtrack. After the series was broadcast, it produced great social repercussions, and the audience gave positive comments on the vivid characterization, ups and downs of the story, and the adaptation and creation based on the original work.

WeChat official account, the WeChat of "TV Art", re-edited the shooting idea published by Zhang Shaolin, the director of "Water Margin" in 1998 on "China TV", and watched the "Water Margin" wave again with the audience.

Guiding ideology of creation: keep the integrity and not be conservative, and the old stories should have new ideas.

"Good-looking" is the general guiding principle of adaptation and re-creation. It is a complex academic issue to respect the traditional appreciation habits, the aesthetic, moral and values of the nation, such as the standards of heroes and villains in the original, the meaning of good and evil, the evaluation of loyalty and treachery, and the judgment of righteousness and injustice. It is against the public’s taste to look at history completely from the standpoint of contemporary people, but it is completely outdated and the audience is not satisfied.

The novel Outlaws of the Marsh is a realistic work, a social landscape map of the Song and Yuan Dynasties, and its exciting point is to create heroes. It shows all the sentient beings of Liangshan heroes and plays a magnificent and tragic symphony of ancient heroes. The TV series "Water Margin", like the original, takes shaping a group of Liangshan heroes as its fundamental task.

One hundred and eight generals in Liangshan, all of whom are heroes among the people, have the characteristics of helping the poor and helping the poor. However, as far as the capacity of 43 TV series is concerned, we can only focus on shaping the most representative, familiar and favorite heroes. They are mainly Song Jiang, Chao Gai, Wu Yong, Wu Song, Lin Chong, likui jy, Lu Zhishen, Ruan Sanxiong, Yang Zhi, Yan Qing, etc., and they have made great efforts to shape them into flesh and blood, lifelike and recognized by the audience.

Script structure: balance the whole process of Liangshan heroes from assembly to dumping

We chose one hundred copies of Water Margin as the blueprint for TV adaptation, and made bold adjustments in the structure. Before the adaptation, we paid attention to the fact that there were three circulation versions of Water Margin, namely seventy copies, one hundred copies and one hundred and twenty copies, and only one hundred copies rewrote the whole process of Liangshan hero’s assembly, strength growth, final failure and destruction, with complete story and ending characters. This version is in line with the adaptation requirements of TV series and the appreciation habits of China people.

On this basis, we adapted the first forty episodes into 23 episodes, the main content of which is the experience of Liangshan heroes being driven to Liangshan; Concentrate forty to seventy-one episodes into eight episodes, focusing on the growth and fall of Liangshan, paving the way for the end of Liangshan heroes. We condensed the rest of the content into 10 episodes, which expanded the story clues and plot context of Lin Chong, Lu Zhishen, Wu Song and Ruan Shi, so as to change the top-heavy shortcomings of the novel.

Martial arts shooting: it is related to the success or failure of the whole drama, and it is meaningless to fight for the sake of fighting.

"The Water Margin" is famous for its martial arts in Four Great Classical Novels. Heroes must have excellent kung fu to satisfy the audience’s viewing psychology. The success of martial arts shooting will directly affect the success or failure of the whole drama. In my opinion, the martial arts of Water Margin must be obviously different from those of Hong Kong and Taiwan. Our path is "truth". We should see real kung fu with one punch, handle the relationship between truth and magic, and perform unique skills.

Martial arts action should conform to the character, and it is meaningless to fight for the sake of fighting. The principle is less but better. If you can’t fight, you can’t fight. If you really have to fight, you must play well, play the heroic style of Liangshan heroes and play the unique skills of heroes. Every martial arts play should give people a sense of pleasure, a kind of enjoyment of beauty and leave an unforgettable impression on the audience.

Serve the overall effect and pursue coordination.

Art is a major project in the modeling of this drama. It is necessary to create a living space for the characters in the drama, which has a strong sense of the times, is suitable for the identity of the characters and conforms to the scenes specified in the plot, and is conducive to the performance of the characters and the development of the times. In a word, modeling should serve the overall effect of the whole play, and any modeling design that is divorced from the plot is not desirable and is suspected of showing off. For example, all buildings should avoid the impression of being born on the same day in the same year, and strengthen the sense of time. In order to maintain the solemnity of famous works, Fan Lou, shops, dyehouses, restaurants, couplets, lanterns and colored balls at Lantern Festival have all been studied, creating a living environment in the Northern Song Dynasty.

In the aspect of character modeling, it is necessary to be personalized and stylized to help actors shape characters. In particular, we should pay attention to the "dead angle" of extras. Whether a work can become a fine work can be judged by the extras, and we can’t lose big because of small.

Finally, we should pay attention to the expressive force of the lens and strengthen the spatial effect, depth effect and dynamic effect of the picture. The use of the lens can have the rough edges of life, not over the board, and the composition should be rigorous and pursue the internal tension of the picture. The lens should be used accurately, vividly and enthusiastically.

Music sound: an irreplaceable means to create an atmosphere

Good music can add icing on the cake to TV series. In order to play the special role of music in characterization and atmosphere rendering, sometimes in a certain situation, sound is more important than the language of the picture, and the atmosphere it creates is incomparable with other means.

The music of the TV series "Water Margin" is mainly folk music. By enriching the expressive force of music with modern means of expression, the music is full of momentum and strength, showing a musical image consistent with the temperament of Liangshan heroes. Song design should be catchy and easy to sing and remember. The song "Ode to Liangshan Heroes" (later named "Good Han Song") is a high-pitched, high-spirited and moving song. In terms of sound, "Water Margin" should change the lack of attention to the sound part in China for many years. The martial arts component of this drama is heavy. If the dynamic sound is not rendered in place, it will directly affect the quality of the whole drama. Therefore, it is necessary to invite senior professionals to join the group and turn off the sound.

In Zhang Shaolin’s lengthy exposition, there are also reflections on the story rhythm, plot setting, language style, actor selection and other aspects, as well as the deduction and deduction of the whole process of script formation. It is precisely because of the creative vision of the main creative team to strive for perfection and the creative goal of striving for first-class quality products that we can leave a work that can be watched repeatedly for the majority of TV viewers.

Attachment: One of the Shooting Ideas of the TV Series "The Water Margin" and "The Shooting Ideas of the TV Series" (originally published in China TV, No.2 and No.5, 1998)

★　How about the torsion beam suspension?

　 　 I believe everyone has some opinions about the torsion beam dependent suspension used in the rear of this car, but for the suspension, the adjustment may be more important, so during the test these days, I mainly experienced the driving experience of M03 and the riding feeling in the back row to see how it performed!

　 　 There is no obvious difference between the dynamic riding experience in the back row and the front row. You can really feel some extra jumping when passing through the speed bump and some road joints, but the riding experience in the back row is comfortable enough for most smooth paved roads. It is not difficult to see that Tucki still has some skills in chassis adjustment.

[car home Quanzhou Preferential Promotion Channel] A large-scale preferential activity is being carried out in Quanzhou, with a maximum discount of 25,000 yuan and a minimum starting price of 50,900 yuan. If you are interested in this model, you may wish to click "Check the car price" in the quotation form to get a higher discount.

The front face design of Changan Auchan X5 is simple and powerful, with large air intake grille, sharp LED headlights and chrome trim, which makes the whole car look more dynamic and fashionable. The overall style tends to be younger, the lines are smooth, and the waistline of the car runs through the front and back, outlining a dynamic body outline. The rear part of the car adopts a strong three-dimensional design, with exquisite taillights, which enhances the visual impact of the vehicle.

Changan Auchan X5 is excellent in body size, with a length of 4490mm, a width of 1860mm and a height of 1580mm, and a wheelbase of 2710mm, which makes the interior space spacious and comfortable. The side lines of the car are smooth, with 18-inch rims. The rims are designed in a sporty style, and with 225/50 R18 tires, the overall shape is dynamic.

Changan Auchan X5 interior adopts simple and fashionable design style, with reasonable overall layout and exquisite materials. The steering wheel is made of leather, which feels comfortable and supports manual adjustment up and down to meet the needs of different drivers. The size of the central control screen is 10.25 inches, with clear display effect and smooth operation. The front row and the rear row are equipped with a USB and a Type-C interface respectively to meet the multimedia and charging needs of passengers. The seat is made of leather/fabric. The main seat has the functions of front and rear, backrest and height adjustment, while the auxiliary seat supports front and rear and backrest adjustment. The rear seats support proportional tilting, which increases the flexibility of storage space.

Changan Auchan X5 is equipped with a 1.5T turbocharged engine with a maximum power of 138kW (188HP) and a maximum torque of 300N·m, which is matched with a 7-speed wet dual-clutch gearbox, providing excellent power performance and driving experience.

To sum up, Changan Auchan X5 has become an ideal choice for many young people with its fashionable appearance and strong dynamic performance. As the owner of car home said: "This car is really suitable for young people, because at least its price is not expensive. It is really happy to choose a car with special appearance and strong fashion power at such a price. The most important thing is that it suits you, because young people’s requirements for vehicles are nothing more than fashionable appearance and strong power. In fact, these aspects are already very satisfied, and the maintenance of domestic cars.

[car home Nanyang Preferential Promotion Channel] Recently, large-scale preferential activities are being carried out in Nanyang area, and the maximum preferential amount has reached 15,000 yuan. At present, the minimum starting price of Xingyue L has dropped to 122,200 yuan. If you are interested in this model, please click "Check the car price" in the quotation form to get a higher discount.

The exterior design of Xingyue L adopts the latest family design language of Geely Automobile. The front part, large-size air intake grille and straight waterfall design make the overall shape atmospheric and powerful. Sharp LED headlights are equipped on both sides of the front of the car, which are connected with the grille to improve the overall visual effect of the front of the car. In terms of overall style, Xingyue L presents a simple and modern shape, and the smooth body lines and tough body contours complement each other, making it stand out among many models.

The body size of Xingyue L is 4770*1895*1689mm, the wheelbase is 2845mm, the body lines are smooth and elegant, and the front and rear wheel tracks are 1610mm, which ensures the stability and handling of the vehicle. Tyre size equipped with 245/45 R20 and dynamic rim design further enhance the overall visual effect of the vehicle.

The interior design of Xingyue L is mainly simple and atmospheric, and a large number of leather materials and leather-like seats are used to create a comfortable and luxurious driving space. The steering wheel is wrapped in leather, which supports manual adjustment up and down and back and forth, with comfortable grip and flexible operation. The center console is equipped with a 12.3-inch high-definition touch screen, which integrates various functions such as multimedia system, navigation, telephone, air conditioning and skylight, and supports voice recognition control, which provides great convenience for drivers. The front row is equipped with mobile phone wireless charging function, and the number of USB and Type-C interfaces is sufficient to meet the daily charging needs. In addition, the main driver’s seat supports the adjustment of front and rear, backrest, height and lumbar support, and is also equipped with heating, ventilation and massage functions. At the same time, the headrest speaker is attached to improve the driving experience. The co-pilot seat has the functions of front and rear and backrest adjustment to ensure the comfort of passengers. The second row of seats also supports backrest adjustment, which can be laid down in proportion to increase luggage space. Together, these configurations have built an excellent interior environment of Xingyue L, bringing more comfortable and convenient driving experience to drivers and passengers.

Xingyue L is equipped with a 2.0T 238 horsepower L4 engine with a maximum power of 175kW and a maximum torque of 350N·m, which is matched with an 8-speed automatic manual transmission, providing ample power output and smooth shifting experience for the vehicle.

The owner of car home spoke highly of Xingyue L, and he was particularly satisfied with the appearance and interior, thinking that the appearance was atmospheric and the interior had a sense of texture. The quality of the new car has also been recognized by him. He mentioned that his car was delivered on May 9 and picked up on May 12, and the experience of the new car was very good.

　　[Smart Car News] According to reports,Is vigorously expanding its presence.ItalySales network, plans to establish 105 sales outlets by 2025. Ke Li, vice president of BYD, announced that by the end of 2025, they hope to have 500 sales outlets all over Europe, among which Italy will become one of the key markets.

BYD

　　BYD is rapidly emerging as a new force in the European automobile market. The new plant in Hungary is expected to be officially put into production by the end of 2025, and will focus on producing four popular models: Atto 2), Atto 3, Dolphin and Seagull. Initially, BYD intended to launch the small and flexible Seagull in Europe first, but after careful consideration, the company decided to give priority to the production of Dolphin and Atto 3 with greater sales potential, especially Atto 2, to meet the market demand.

　　Data show that from July to September this year, BYD sold more than 1.13 million cars, an increase of 38% compared with the same period last year, setting a new high in quarterly sales in brand history. This also makes it successfully surpass Ford and become the sixth largest automobile manufacturer in the world. In sharp contrast, Ford’s sales decreased by about 40,000 vehicles in the same period.

　　With the opening of more sales outlets and the completion of the Hungarian factory, BYD is expected to further consolidate its position in Europe and the world, and bring more people the choice of green travel.

Author: Xiao Li Fei Dao, editor: Xiao Shimei

In November, 2023, Yang Yinfen, the new head of Liangpin Store, wrote in an open letter to all employees that the company is facing the most difficult challenge since it started its business, not only the problem of living hard, but the problem of not being able to live. If it remains unchanged, it is really possible to lose the opportunity at the poker table.

This is really not an alarmist.

[Strategic Turn]

At the end of 2023, Liangpin Store officially announced that the average price of more than 300 products of the company was reduced by 22%, with the highest drop of 45%, the largest price reduction in 17 years. This means that good shops have given up the positioning of high-end snacks, and their business strategy has turned to the pursuit of "cost performance".

In fact, in the past many years, the company’s high product prices have not brought higher profits to the brand, but have discouraged consumers and increased business pressure.

Since listing, the revenue of good shops has almost stagnated, and the profit has been negative. In 2023, the revenue was 8.046 billion yuan, down 14.76% year-on-year, and the net profit returned to the mother was 180 million yuan, down 46.26% year-on-year. In the first quarter of 2024, it continued to drop sharply by 58%.

▲ source: Chocie

The profitability of good shops is also deteriorating. The gross profit margin in the first quarter of 2024 was 26.43%, a sharp drop of 6.3% compared with 2015, setting a new low since the financial disclosure data. The latest net interest rate was 2.54%, down 1.59% from 2019. Among them, the sales expense rate is around 20% all the year round, but the R&D expense rate is less than 1%.

Judging from the above core business data, the high-end business strategy of Liangpin Shop has not brought good growth to the company. However, after the strategic shift, the future life is still difficult, because there will be a big price cut.

For good shops, it will be a good result if the price reduction can achieve small profits but quick turnover. But often the ideal is full, and the reality may be very skinny.

In recent years, discounts on leisure snacks have become a common practice. Not only are good shops cutting prices, but three squirrels, herbs and other heads are lowering their bodies to cut prices, not to mention many small and medium-sized brand manufacturers following suit. You drop me, but the total demand of consumers will not change obviously, so the final outcome of price reduction is that it is difficult to make up the price by quantity.

Three squirrels are a typical example. At the beginning of 2023, the company put forward the strategy of "high-end cost performance" and carried out quality improvement and price reduction. However, the total annual sales volume was 68,500 tons, which was 12% lower than that in 2022.

Secondly, the price reduction of good shop products will reduce the company’s gross profit and net profit performance, impact investors’ expectations, and the overall valuation level may tend to move down.

Judging from the advantages and disadvantages of the business model, the leisure snacks where Liangpin shops are located are at the bottom of the whole food and beverage, with low operating threshold, easy price war, rapid changes in consumer demand and low brand loyalty. Unlike high-end liquor, it has high operating barriers, and can continuously raise prices, improve profitability, and the valuation level is often relatively high. In other words, good shops are in a bitter business track, earning hard money.

Good shops don’t cut prices, so it’s difficult to operate! After the price reduction, it may be more difficult to operate!

[Industry changes]

In the past many years, high-end snack enterprises have been competing for market positioning, with good shops, three squirrels and herbs everywhere. Nowadays, the giants are forced by reality to cut prices to survive.

In addition to objective factors such as macro-consumption fatigue, the most important logic is the rapid rise of the snack mass-market store model focusing on cost performance in just a few years, which reshapes the market structure of China leisure snack industry.

From 2021 to 2023, the number of snack discount stores in China increased from 2,500 to 25,000, an increase of 1,000%. It is estimated that it will exceed 30,000 in 2025, and the compound annual growth rate will still exceed 30%. The sales scale increased from 3.7 billion yuan in 2017 to 70-80 billion yuan, with a compound annual growth rate of 112%.

▲ The number of snack shops has expanded rapidly. Source: Dongguan Securities.

After several years of staking, the snack discount market has basically formed a market pattern of "North Wanchen, South Busy, West Ming and East Ming". Among them, the industry leader Snacks is very busy. The number of stores in the group was only 1,150 in 2021, and it has expanded to 6,500 in 2023, more than five times.

In November, 2023, Snacks Busy merged with Zhao Yiming Strategy. In 2023, the new group’s total revenue exceeded 20 billion yuan, and the number of stores reached 10,000, which brought the snack discount war from regional competition to the whole country and crushed other competitors.

Then, why can snack shops rise rapidly?

According to the words of the semi-annual report of Three Squirrels in 2023, the discount snack format is aimed at the bottom consumption demand of "how fast and how good it is", and it will rise rapidly with more abundant zero food and more affordable product prices, and will efficiently undertake the traffic transfer from traditional supermarkets (PS: accounting for more than 40% of sales channels).

Specifically, for example, snacks are very busy, there are more than 2,000 kinds of snacks in Zhao Yiming, and the monthly renewal rate is more than 100 kinds, and the location is near the community or in the commercial area with more people, which can better meet the needs of consumers.

Of course, the most important thing is the price. Discount snack vendors have innovated the snack channel, that is, bypassing the dealers and purchasing directly from the manufacturers, making profits to consumers with lower purchase costs, and finally getting the return of small profits but quick turnover. According to statistics, the average retail price of general discount snacks is about 20%-40% lower than that of supermarkets. This is attractive enough for consumers.

China leisure snacks sales channels, offline is still the main battlefield, accounting for more than 80%. Now, the rise of discount snack mode is regarded as "offline version of Pinduoduo" by the market, which has had a strong impact on the high-end snack price system, including good shops.

Good products are greatly reduced in price and have to be.

[Difficult situation]

In 2012, Yang Hongchun led a good shop to bet wildly on e-commerce channels, laying out Tmall, JD.COM and No.1 stores, and embarked on the road of rising, realizing the leap from a regional snack brand to a snack industry giant.

In 2015, online sales exceeded 800 million yuan. In 2016-2019, online revenue continued to grow, accounting for 33.7% to around 50%. Relying on the e-commerce dividend, the good shop has surpassed the one that still relies mainly on offline channels.

However, in recent years, the pattern of e-commerce platform has been intensified and reshaped, online traffic differentiation has continued, the channel layout of good shops has been unbalanced, and the online growth engine has failed. In 2022, the revenue of e-commerce channels showed a rare negative growth, which worsened in 2023, with a sharp drop of 32.6% year-on-year, accounting for 10.58% to 39.8% of revenue.

The online channels of good shops rely heavily on Tmall and JD.COM, and there is no improvement in the layout of Tik Tok. However, the e-commerce market in Tik Tok has risen rapidly. In 2023, the sales of leisure snacks surged by 53%, eroding the market cakes of Tmall and JD.COM. Looking at peers, the revenue of Tik Tok platform of Three Squirrels surpassed that of JD.COM platform in 2023, with a year-on-year increase of 119%.

In terms of offline channels, good shops still open more direct stores. In 2023, there were 258 self-operated net stores, and the total number of direct stores reached 1256. In the same period, 191 franchisees closed their stores, leaving 2,037.

I’m afraid that blindly opening a good shop can’t stop the business decline. On the one hand, accelerating the opening of direct stores also means higher operating costs, which is also an important factor dragging down performance. On the other hand, the rise of snack discount mode will divert offline traffic, which will also have an impact on the business of good direct stores.

On the other hand, the competitor Yanjin Shop has a profound understanding of the changes in retail channels. As early as the second half of 2021, it began to lay out snack discount channels, and the partner was the industry leader Snacks Busy Group.

In 2023, Yanjin Shop has exceeded 500 million yuan in the busy snack sales channel, accounting for more than 12% of the total revenue, far exceeding the traditional supermarkets such as Wal-Mart and CR Vanguard. In 2022-2023, the revenue of Yanjin Shop increased by 26.8% and 42% year-on-year, and the net profit returned to the mother increased by 100% and 67.8% year-on-year. Its performance is the best among the listed snack vendors.

Good shops don’t cooperate with the channel of mass-selling giants, and may have some concerns and considerations of their own. First, I want to control the offline traffic entrance by expanding the scale of opening a store, and I don’t want to be an "offline platform worker". Second, we set up a discount brand "Snacks Hard Home" to focus on the Hubei market. It was expected that 500 stores would be opened in 2023, but it did not cause much waves in the market.

Yanjin Shop chose to embrace the general trend of channel traffic change, and got a wave of super bonuses, and its performance scale reached a big step. On the other hand, the decision-making of good shops is somewhat slow and chaotic, and some opportunities are missed. Of course, all this has nothing to do with the lack of company supply chain.

Good shops don’t have their own production factories, and the products take the mode of "OEM+OEM". On the one hand, it is difficult to effectively manage and control food safety and quality. For example, on the black cat complaint website, there are more than 2,400 complaints about good shops, including eating foreign objects and moldy food. On the other hand, it can’t enter the retail scene in large quantities like other self-produced brands.

▲ Source: Black Cat Complaint

Yanjin Shop controls the supply chain by itself, which can control the procurement, production and sales, and can extend the upstream and downstream industrial chains, with good cost reduction effect. Its gross profit margin and net interest rate rank NO.1 in the snack industry, which is significantly higher than that of good shops.

Generally speaking, in terms of online channels, the growth engine that relied on in the past has turned off due to the disappearance of the traffic dividend of the e-commerce platform. In terms of offline channels, no effective measures have been taken to deal with the major changes in traffic, resulting in passive operation. Based on this, the capital market has already voted with its feet. The stock price of good shops has retreated by more than 80% compared with the peak in 2020, and the market value has evaporated by 27 billion yuan.

As a result, Yang Yinfen, the new coach, may have to accept the reality that good shops return to mediocrity, and the era of high growth is gone forever. However, the severe test of the market may have just begun.

disclaimer

This paper deals with the contents of listed companies, and is the author’s personal analysis and judgment based on the information publicly disclosed by listed companies according to their legal obligations (including but not limited to temporary announcements, periodic reports and official interactive platforms, etc.); The information or opinions in this article do not constitute any investment or other commercial suggestions, and Market Value Watch shall not be responsible for any actions arising from the adoption of this article.

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