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.

Among the new generation of actors born after 1995, Zhao Lusi’s existence can be said to be clean.

At the age of 22, her works are prolific. In addition, her acting skills have been recognized by the public. With a series of works, she won a double harvest of word of mouth and popularity. Only five years after her debut, she has achieved the present results, which is really enviable.

When I was a child, Zhao Lusi was not only good-looking but also interesting in soul. She was often praised for her beauty when she was away from home. But Zhao Lusi is a real academic scum.

She once revealed in an interview that she didn’t like studying, and her academic performance was always poor, especially in math. The worst exam only got 16 points. But compared with those artists who come with their mouths open, Zhao Lusi is more real.

Zhao Lusi, who was in high school, uploaded a photo to the Internet. Unexpectedly, it was still on fire, and even turned into a red-hot space network map. Wang Han, the famous host of Mars Intelligence Bureau, invited her to become a senior agent, and Zhao Lusi’s performance in front of the camera was remarkable.

As the director, Wang Han will also ask Zhao Lusi questions from time to time to increase the exposure of some shots.

Later, Zhao Lusi welcomed the second noble, named Yu Zheng, the "star-making machine" in the entertainment circle.

For example, Yang Mi, Zhao Liying, etc., which also proves that Zhengzheng’s vision is still very good. , gave Zhao Lusi the role of female two.

Because Guan Xiaotong, the heroine at that time, the audience preferred Zhao Lusi’s performance because of her modeling and other reasons. Zhao Lusi played such a wonderful role for the first time, which also paved the way for the fire behind.

In 2018. Zhao Lusi finally ushered in the protagonist, starring in the TV series "Oh! My Emperor has been praised by many netizens.

Zhao Lusi’s works occupied the whole hot search list, and the relaxed and funny plot also attracted the attention of many viewers. With the popularity of the plot, everyone finally saw the existence of this precious girl.

Do you like such a beautiful Zhao Ruth? Welcome to leave a message in the comment area ~

Editor in charge:

　　Dongfang. com reporter Fu Wenzhao reported on October 20th: Express delivery is ok, and the box is left. A few days ago, such a strange rule appeared in a university in Xi ‘an. Students queue up at the express delivery collection point to unpack the boxes and pick up the pieces. Once the things they buy involve personal privacy, the scene will be embarrassing … …

School notice

　　It is understood that the express delivery collection point in this university recently received a Notice on the Dismantling of Packages such as Express Delivery Boxes from the school, which requires that the express delivered by the express delivery collection point must be removed on the spot, and the staff will disassemble and flatten the boxes on the spot and stack them neatly. It is strictly forbidden for the picker to take the boxes away. If the collection point fails to be implemented as required, the logistics support department of the school will impose compulsory punishment by means of a fine of 5,000 to 30,000 yuan, suspension of business for rectification, expulsion from school, etc.

　　Regarding this rule, some students said that if the shoe box is dismantled when buying a pair of shoes, "one shoe in each hand is taken back to the dormitory, and then you are treated like a monster when you walk on the road." "If you buy fruit, you can’t take it back one by one." Because there are still students taking the express box away during the execution, the staff of the express point revealed that "the boss has eaten several tickets." Some netizens pointed out that if girls buy personal hygiene products, or personal privacy items such as underwear, do they have to open them on the spot? In addition, there is personal information of the recipient on the box, and some netizens are worried that personal privacy will be revealed.

　　Lawyer Yin Qingli, director of Beijing R&F Law Firm, said that according to the product quality law and contract law, the packaging of products is also an important part of products. For products like fruits, the packaging itself plays a protective role. This method adopted by this university in Xi ‘an will not only lead to inadequate protection of the whole product, but also infringe on the privacy of purchasing these products. This simple practice of the school infringes on the legitimate rights of students.

　　According to the staff of the school office, after students take the courier, it is easy to throw the courier box back to the dormitory, which affects the environmental sanitation. "So let them dismantle the box. If you encounter something more private, you won’t let them tear it down. "

　　Lawyer Yin Qingli believes that the school’s current practice is too simple, and some rules and regulations should be formulated to manage, restrain and supervise the handling of student garbage classification. Schools can give criticism and education to students who violate the relevant regulations on garbage classification, and can also give corresponding warnings or other disciplinary actions according to the seriousness of the circumstances. It should not be so "one size fits all".

Increasing income does not increase profit! The number of closed stores is greater than the number of new stores, and the goal of "thousand stores" of good shops is suspected of cutting leeks!

Good shops have always regarded themselves as "high-end" snacks, but high-end in consumers’ minds means expensive.

Snacks should be able to taste a delicious and economical comfort when you are tired, and bring relief to your tired body. However, when consumers find that snacks have become a high-priced commodity and feel that the pain of wasting their wallets even exceeds the delicious enjoyment, snacks have also become a problem.

Therefore, despite the rapid rise of good shops, neither product breakthrough nor brand positioning has achieved good results.

Judging from the financial and operating data disclosed by good shops in recent years, the operating ability of good shops is lacking.

From a longer time dimension, in the past three complete years, there has been a situation of "increasing income without increasing profit" in good shops. In 2020, good shops achieved revenue of 7.894 billion yuan and net profit of 344 million yuan; However, by 2022, its revenue has increased to 9.44 billion yuan, but its net profit is only 334 million yuan.

At the same time, the online business growth of good shops is also weak. In 2022, the online main business income of Liangpin Shop was 4.698 billion yuan, down 3.29% year-on-year.

In this context, the company’s share price has also entered a downward trend. On July 15, 2020, the stock price soared to 86.52 yuan/share, with a market value of nearly 30 billion. In contrast, today’s share is 24.84 yuan, the total market value is less than 10 billion yuan, and the market value has evaporated by about 20 billion yuan.

For an enterprise that has been firmly established in the market for 16 years, the predicament of the good shop is undoubtedly the most difficult moment in its history.

First, the number of closed stores is greater than the number of new stores, and the goal of thousands of stores is suspected of "cutting leeks"

In addition, following the hot spots in the market, Liangpin Store began to sell Xiaoqing Lemon Juice, a very popular drink at present, and put this product in the most conspicuous position in the freezer of the store.

In recent investment activities, regarding issues related to store expansion, Liangpin Store said: "While polishing the model of big stores, the company opened 80 new stores in the first quarter. In the second and third quarters, the company will speed up the pace of opening offline stores and make efforts to achieve the goal of opening 1,000 new stores throughout the year. "

However, the goal of a thousand shops in a good shop seems as empty and empty as its "high-end" slogan.In the first quarter of this year, the number of newly opened stores in Liangpin shops was 80, while the number of closed stores reached 122, which was higher than the number of newly opened stores. According to the progress in the first quarter, only 320 good shops can be opened a year. At the same time, even if the accelerated process reaches 1,000 in the later period, the number of closed stores of good shops may far exceed the number of new stores according to the ratio of opening stores to closing stores in the first quarter.

At the same time, from the point of view of the number of stores in the past three years, the number of closed stores of good shops has also increased rapidly while the number of new stores has increased rapidly, which has led to the net growth of no more than 300 stores in 2020-2022. Taking 2022 as an example, the number of good shops increased by 720, but the number decreased by 468 in the current period.

As can be seen from the number of stores opened in the past, franchise stores are the main driving force for the growth of new stores in good shops. Behind the high rate of opening and closing stores is the high joining cost of good shops.

According to the official website data of good shops, the minimum joining cost of good shops is 475,000 yuan. Among them, the performance bond is 100,000-200,000 yuan, the brand use cost is 45,000 yuan /3 years, the store decoration cost is 180,000-220,000 yuan, and the shelf/electronic equipment is 150,000-250,000 yuan.

On the online platforms such as Xiaohongshu and Tik Tok, some users said that the joining cost of good shops is high, and it is difficult to make a profit when the daily operating income reaches 7,000 yuan. According to preliminary calculation, in the north, Guangzhou and Shenzhen, according to the monthly rent of 25,000 yuan plus 14,000 labor and miscellaneous expenses, the annual cost of good shops will be 468,000 yuan. Even if it is estimated by the lowest joining cost and 30% gross profit margin, it will take two years to return to the capital, and the daily break-even will reach 6000 yuan in operating income.

In the stock bar, the joining of good shops has triggered a discussion. Some investors’ views are very sharp, and they compare the existing joining mode of good shops to "cutting leeks". According to these viewpoints, this model is more like opening a new branch with the funds of franchisees, but it fails to give them corresponding support and profit return. Therefore, franchisees have suffered great risks and pressures, and good shops have benefited from this. In the eyes of investors, this model is no different from "cutting leeks", that is, it constantly attracts new franchisees to invest, but fails to give them due returns and makes them suffer losses in investment.

The current dilemma faced by good shops is that it has become an inevitable choice to improve their performance by opening new stores. If we don’t continue to open new stores, the number of stores closed for various reasons will continue to increase every year. In 2022, for example, a total of 409 stores were closed, of which 235 were closed due to losses and 93 were closed after active optimization.

Therefore, if we do not continue to open new stores, the growth of operating income of good shops will be difficult to maintain. At the same time, the newly opened franchise stores can continue to promote the growth of operating income of good shops through procurement.

In confirming the income of franchise stores, the practice of good shops is to "confirm the income according to the expected amount of consideration when the control of related goods is transferred to franchise stores". Before the listing, the strategy adopted by good shops was "when the franchise stores sell goods to consumers, and confirm the income when the goods are delivered to the end consumers and get the right to collect money". The change of this policy has also attracted the attention and discussion of investors.

Second, major shareholders have repeatedly reduced their holdings, and the decline in stock prices has attracted market attention!

In the face of the gradual decline of e-commerce dividends, the growth momentum of good shops is facing major challenges. This anxiety is widely perceived by investors, and its major shareholders are constantly selling stocks. Recently, the early institutional investors of Liangpin Store, who have been with Liangpin Store for more than ten years, have also reduced their holdings on a large scale.

On June 9, 2023, Liangpin Store received the Notice on the Implementation of Reduction from shareholder Dayong Co., Ltd. From May 25, 2023 to June 8, 2023, Dayong Co., Ltd. reduced its shares by 4,647,000 shares through block trading, with a cumulative reduction ratio of 1.16%.

It is understood that Dayong Limited holds as much as 30.30% of the shares in good shops, making it the second largest shareholder of good shops. This time, Dayong Co., Ltd. plans to reduce the company’s shares by centralized bidding or block trading, with a total of no more than 24.06 million shares, that is, no more than 6% of the company’s total share capital.

The actual investor hidden behind Dayong Co., Ltd. is today’s capital, a well-known investment institution. As early as 2010, today’s capital saw the development potential of the good shop, invested in the company and became its early shareholder. Later, today Capital transferred its shares to Dayong Co., Ltd. as an indirect way to hold shares in Liangpin Store. In the recent reduction action, today’s capital may realize a gain of up to 700 million yuan through cash.

Xin Xu, the head of today’s capital, who is widely praised as the "Queen of Venture Capital", is a prestigious figure in the investment community. She has successfully invested in Wahaha, Yifeng Pharmacy and other well-known brands, and won wide acclaim in the industry by virtue of her profound insight into consumption trends in the primary market.

In the past ten years, today’s capital has consistently supported good shops. However, today’s substantial reduction and cash-out of capital undoubtedly reflects investors’ re-evaluation of the future development prospects of good shops.

What is even more worrying is that it is not the first time that a good shop has been reduced by a major shareholder. Starting from March 2021, Gaochun Capital began to reduce the number of good shops by clearance. On November 20, 2022, Liangpin Store announced that three investment companies under Gaochun Capital, namely Zhuhai Gaoyun, Hong Kong Gaoyun and Ningbo Gaoyun, announced that they planned to reduce their holdings by no more than 22.29 million shares (no more than 5.56% of the total share capital), which was only one step away from the clearance.

At present, Gaochun Capital has reduced its holdings of 2,240,021 shares through centralized bidding, accounting for 0.56% of the company’s current total share capital, and the remaining shareholding ratio is only 5%. At the same time, Gaochun Capital also plans to continue to reduce the shares of good shops through centralized bidding from June 28, 2023 to September 25, 2023.

In the face of the reduction of major shareholders and the continuous decline of stock prices, investors’ worries and dissatisfaction are gradually heating up. In an interactive session of investors, a question stands out, that is, whether the company has formulated an appropriate market value management strategy to deal with this situation, and whether the unilateral decline of the stock price has attracted the attention of the company management team.

What’s more interesting is that some investors have further questioned whether the company’s shares were shorted by large-scale securities lending, and whether an investor seminar should be organized immediately to answer all investors’ doubts. Investors also stressed that every minority shareholder is not only a consumer, but also a disseminator of the company’s brand. Therefore, excellent market value management will undoubtedly be the most substantial return to minority shareholders.

However, there are also views that the selling behavior of major shareholders to good shops is not unexpected. As a matter of fact, the challenge faced by good shops is not limited to finding new growth points. The more serious problem is that their competitive defense line in the old business field is not stable, and a large number of emerging consumer brands are eyeing the market share of good shops.

For more reports about this article, we have published it on Hexun Finance APP. The app store searched for Hexun Finance, downloaded and participated in the index guessing activity to win the JD.COM card and the cash prize of 10,000 yuan.

Editor in charge:

Recently, a group of mysterious road test spy photos of large luxury cars have attracted wide attention in the circle of car bloggers. Although the vehicle is covered with camouflage, its huge body and powerful gas field are still eye-catching, and its size is expected to be equivalent to that of top luxury models.

It is reported that this new car is probably the product of HarmonyOS Zhixing’s "Fourth World" brand-Zunjie, which was jointly launched by Huawei and Jianghuai Automobile. The rear wheel steering function of this model shows its high-end configuration. At the beginning of this month, Yu Chengdong, CEO of BU, Huawei’s smart car solution, officially announced that the English name of Zunjie brand is MAEXTRO, and the first product has entered the stage of vehicle verification, which is expected to be off the assembly line at the end of this year and officially listed in the first half of next year.

"Zunjie" brand aims at benchmarking ultra-luxury brands such as Maibakh and Rolls-Royce, positioning itself in the ultra-high-end market, and the estimated price will reach one million yuan. The cooperation between Huawei and JAC is not limited to this luxury car, but will also expand to the MPV market of one million yuan. These models are expected to be produced through JAC X6 platform, with an annual production capacity of 35,000 vehicles.

According to informed sources, JAC Automobile is accelerating the recruitment of Huawei-JAC "Zunjie" project, involving quality system experts, quality evaluation experts, product line quality experts, production quality experts, vehicle quality experts, etc., to ensure the smooth progress of the project. At present, JAC hopes to build 38 test vehicles, so as to comprehensively test and verify the first model.

Drive ~ let’s go

It’s time for Brother Zhi to eat melon seeds once a week again!

　

Where did you spend 500 million?

AITO asks the new M7 to be officially launched.

Young MPV?

Tucki X9 declaration map exposure

Wuling pure electric "MPV" journey EV listed

High-level intelligent driving is only 150 thousand?

Baojun Yunduo Linxi Edition will be available soon.

Jianghuai QX PHEV officially listed.

　

Not much to say.

Let’s have a chat with you, Brother Zhi.

What new things happened in the car circle this week!

　

　

01 Wuling pure electric "MPV" journey EV listing

Recently, according to the official news of Wuling, Wuling Journey EV was officially listed, with a price range of 145,800-155,800 yuan.

In terms of appearance, Zhige thinks that the appearance of Wuling Journey EV is a bit like an extended version of Wuling van. The front face adopts a closed front grille design and a split headlight group design. The use of horizontal lines on both sides of LOGO highlights the sense of movement and design.

The shape of Wuling Journey EV is like a square box, and the waistlines on both sides highlight the three-dimensional sense of the car body. With unique wheels, it also adopts a suspended roof design, and the whole system comes standard with side sliding doors, which is fashionable and practical. The tail of the car body is relatively simple, and the split taillights are embedded.

In terms of interior, in addition to the basic configuration of the entry-level model, other models also provide leather-like wrapped seats, six-way manual adjustment of the main driver’s seat, ESP body stability control, reversing radar and other configurations, as well as 8-inch central control panel, cruise control and multi-function steering wheel. In addition, the new model will provide four seat layouts: 2-seat window-sealed, 7-seat, 8-seat and 9-seat passenger version.

In terms of power, the maximum power of Wuling Journey EV is 100 kW, the maximum torque is 240 Nm, and the maximum speed is 105 km/h. In terms of battery life, the car uses a lithium iron phosphate battery pack with a capacity of 57 kWh, and the CLTC cruising range is 360 kilometers. It takes 46 minutes to charge 30%-80% in fast charge mode.

Attention, cars:

Wuling’s Journey EV is an electric vehicle based on the Journey fuel version, with a price range of 145,800-155,800 yuan, which is a bit like a large van. It also provides passenger transport version and box truck model, and the application scenarios are very rich, no matter whether it is home or moving bricks, you can choose!

　

02 AITO asks the new M7 to be officially listed.

On September 12th, the new M7 series of AITO Zhijia medium and large SUV was officially launched. A total of five models were launched this time, with the starting price ranging from 249,800 to 329,800 yuan.

The new M7 in Wenjie is equipped with HUAWEI ADS 2.0 advanced intelligent driving system. The success rate of urban elevated import and export is over 99%, and high-speed and urban advanced intelligent driving can be completed without relying on high-precision maps.

The new M7 is also equipped with 27 sensing hardware such as an overhead lidar, three millimeter-wave radars, 11 high-definition visual sensing cameras and 12 ultrasonic radars. With Huawei ADS 2.0 system, it can identify obstacles more intelligently.

The new M7 also gives consideration to comfort. The length of the five-seat car has reached 3338mm, and each position is very spacious. Twelve 20-inch boarding boxes can be put in the trunk. The overall space of the front, middle and rear three rows of the six-seat version can reach 2605mm, and both the six-seat and four-seat models have a lot of room for expansion, and the 1.1-meter trunk can also hold four 20-inch suitcases.

The big five-seat version adopts the "cotton candy" seat, which has the functions of ventilation, heating and massage for four seats, and enjoys six seats with brand-new zero-gravity seats for a better ride experience. The rear cockpit screen can realize multi-device linkage, and the application can be transferred with the touch of the mobile phone, which enriches the entertainment activities of the passengers in the car.

In terms of safety, the welding production line of the new M7 has been upgraded and upgraded, using CBS composite body material, and the body structure is more solid and reliable, which is better than the mainstream models of luxury brands with a level of 500,000 on the market.

In terms of power, it is equipped with HUAWEI DriveONE extended-range electric drive platform, and the four-wheel drive version accelerates for 4.8 seconds in 100 kilometers, with a comprehensive battery life of 1300km under CLTC condition, a pure battery life of 240km, and a fuel consumption of 5.6L/100km under feed condition. In addition, the drag coefficient of the new car reaches 0.298Cd, which can effectively reduce energy consumption and drive more smoothly.

Attention, cars:

The new car body M7 has been improved in terms of safety and intelligent driving. In addition to better and stronger body materials, the HUAIWEI ADS 2.0 system it is equipped with has made greater progress in intelligent driving technology.

Yu Chengdong said that the upgrade of the new M7 has cost 500 million yuan. Do you think this money is well spent?

　

03 Tucki X9 declaration map exposure

According to the latest declaration information of the Ministry of Industry and Information Technology, we found the declaration map of Tucki X9. It is reported that Tucki X9 will be launched in the fourth quarter.

In terms of appearance, the X9′ s shape is cool, and the design of the closed front face and the matching of the penetrating light strip and the split light group are highly recognizable. There is also a grid grille under the front face, which is very eye-catching.

The side lines of the new model are smooth, equipped with hidden door handles, electric sliding doors and suspended roofs, with clear oblique waistlines on both sides, which is more dynamic and powerful.

As for the rear end, Tucki X9 adopts the design of penetrating lamp group, which is full of science and technology. In addition, the rear window of the new model is similar to the sliding back shape with a large inclination angle. In terms of body size, the length, width and height of the new car are 5293/1988/1785mm and the wheelbase is 3160 mm.

As for the interior, according to the previous pictures, Tucki X9 will adopt family-style design language, with large-size floating central control panel, embedded LCD instrument and double-width steering wheel, which is full of science and technology. It will also be decorated with leather material and special texture, which is more exquisite and advanced than Tucki G6.

In terms of power, the new Tucki X9 will be available in single-motor and dual-motor versions. The maximum power of the single-motor version is 235kW, and the maximum power of the motors before and after the dual-motor version is 135kW and 235kW respectively. The battery is a ternary lithium-ion battery of Zhongchuang Singapore Airlines.

Attention, cars:

The new Tucki X9 does not follow the steady and mature style of traditional MPV in modeling, but aims at the young MPV market and is made with a younger and more scientific design language. Diving, come out and comment on the value of this young MPV ~

In the increasingly competitive MPV market, in addition to appearance, pricing is also very important, and Zhige will continue to pay attention to it for everyone.

　

04 Baojun Yunduo Linxi Edition will be available soon.

According to the official news of Wuling Baojun, Baojun YunLinxi Edition will be listed on September 26th. The Linxi version was mainly upgraded in intelligent assisted driving, and was jointly built by Baojun and DJI Vehicle.

This edition of Baojun Yunduo Linxi is equipped with "Linxi Zhijia 2.0" jointly built by Baojun Yunduo and DJI Vehicle. It will be equipped with 8 megapixel inertial navigation binocular camera, 4 panoramic cameras and 1 rear monocular camera.

The new car will cancel the high-precision map and use the "global map-free" mode instead. The high-speed intelligent navigation function can be completed through BEV perception and vehicle navigation information.

The cross-floor memory parking function supports the route memory of indoor, outdoor and cross-floor scenes, supports starting at any position of the memory route, and can support the memory of parking routes up to 1km, and can remember up to 10 parking routes. The tracking and reversing function can return to the starting point with one key, and the effective distance of tracking and reversing can reach 100m m.

It is worth mentioning that the new car is also equipped with "the only one in its class" 0-130km/h full-speed intelligent driving assistance, and the lever can be turned on. The official said that it can realize intelligent driving functions such as intelligent congestion response, intelligent obstacle avoidance and intelligent lane change with one-button lever.

In terms of appearance, Baojun YunYunLinXi Edition is the same as the previous models, with round and full vehicle shape, closed front face design, split headlights with through daytime running lights, simple and exquisite. The side door handle is hidden, and the tail is equipped with through taillights and duckling tail rear spoiler. The car comes standard with multi-function electronic arms, four-way steering wheel adjustment, 8.8-inch instrument panel and 15.6-inch central control panel.

In terms of power, Baojun Yunyun has 360km and 460km battery life to choose from. The whole system comes standard with a 100kw high-power motor with a peak torque of 200Nm. In terms of charging, Baojun Cloud supports fast charging and slow charging.

Attention, cars:

Baojun Yunduo has sold well since its listing, with outstanding value and high cost performance. The Lingxi version launched this time does not talk about "martial arts", but has been upgraded in intelligent driving, with functions such as high-speed intelligent navigation assistance, cross-layer memory parking and tracking reversing.

At present, what we are most looking forward to is its price. According to the official information, the price of Baojun YunLinxi Edition will be 150,000. What do you think is the appropriate pricing?

　

05 JAC QX PHEV officially listed.

On September 15th, JAC QX PHEV was officially launched, and it was positioned as a compact SUV with a price of 129,900-149,900 yuan. The new model is a plug-in hybrid version of Sihao QX, which basically continues the design of Sihao QX.

Jianghuai QX PHEV adopts the aesthetic design concept of "intelligent universe", and its overall style is calm and atmospheric, with split headlight design and through LED strip, which is highly recognizable. The large-size borderless transverse grille has a more sense of design than Sihao QX.

On the side of the car body, JAC QX PHEV adopts double waistline design, with black skirts decorated on both sides, which highlights its layering and sportiness. In terms of body size, the length, width and height of the new car are 4605/1890/1700mm and the wheelbase is 2720 mm.

In terms of the rear end, the new model adopts a penetrating taillight design, and a number of horizontally parallel lines are matched with black decoration, which also makes the rear end more layered and reflects the simple theme style of the atmosphere.

In terms of interior, JAC QX PHEV adopts an embracing cockpit design and is equipped with a 12.3-inch dual screen, which can achieve good visual effects and is highly scientific and technological. Huawei, Tencent and Iflytek cooperated to build an intelligent interconnection system, which supports multi-functional voice interaction functions such as navigation, entertainment and information.

In terms of power, the new model is equipped with a plug-in hybrid system consisting of a 1.5L engine and a motor, which provides an economical, standard and sporty three-speed driving mode. Under CLTC working conditions, the pure electric cruising range can reach 120km, the comprehensive fuel consumption per 100 kilometers is only 1.53L, and the maximum cruising range can reach 1300km.

Attention, cars:

As the brand’s first new energy plug-in hybrid vehicle, JAC QX PHEV is both practical and comfortable, but also more environmentally friendly and fuel-efficient. Overall, the performance of this car is still good, and the configuration is full of sincerity, but it remains to be seen whether it can win the share in the highly competitive compact SUV market.

Compared with Sihao QX, Jianghuai QX PHEV is more economical. There is little difference in appearance, but it is more fuel-efficient and smarter. Are you excited about the price of 129,900 yuan?

　

　

All right! Brother Zhi, that’s all for this week.

Hot smell of rims, said the baggage and take the journey!

If you still want to eat melon seeds together

Remember to pay attention to the wisdom and drive.

　

　

This time, Huawei finally aimed at a million luxury cars.

Not long ago, HarmonyOS Zhixing and Jianghuai Automobile launched the first product:Zunjie S800.

Different from the rest of the "Huawei Four Realms", as soon as Zunjie was born, it filled up the suspense stunt.

At the booth of Guangzhou Auto Show, the exhibition area of Zunjie was surrounded by a circle of "shady", which was very mysterious. Only invited visitors could go in and shoot.

Even if you are lucky enough to get the invitation from the distinguished circle, visitors need to sign a series of "5 million-worth" confidentiality agreements before they can go in and take pictures casually, and the mystery is directly filled.

At last week’s Huawei conference, this mysterious venerable world finally took the stage as the "One More Big Thing" finale of the conference, which was amazing.

As the highest-end car in Huawei’s "Four Boundaries", Zunjie S800 has the confidence of being unfamiliar with luxury cars such as Rolls-Royce and Maibakh.

Although there is no accurate pricing, Yu Chengdong also "spoiled" the pricing of Zunjie at the end of the conference, ranging from 1 million to 1.5 million. If you book on the spot, the light deposit will start from 20,000 yuan.

But beyond the gimmicks, can the inner nature of the Zunjie really stand up to positioning?

01

Why does the honorable world under the "shady" sell for 1 million?

At the Guangzhou Auto Show, every audience invited to enter the "shady" world of honour came out with a mysterious smile.

-this car is too distinguished to look at.

In terms of naming, S800 has nothing to hide. Since the highest end of Maibakh is called S680, the Zunjie will be "bigger" than you.

In terms of appearance, Zunjie is full of luxury. Although many young bloggers think that its design is "old-fashioned", they have to admit that,In terms of appearance benchmarking, Zunjie is simply a one-shot fight.

The size of the vehicle is 5.5 meters long, 2 meters wide, 1.5 meters high, and the wheelbase is as high as 3.37 meters. It is full of domineering on the road and directly targets the "ceiling" of the D-class executive car.

In terms of design details, Zunjie pays attention to a "harmony between heaven and earth".

Among them, the "sky" part naturally marked the starry roof of Rolls-Royce, but Zunjie added it to the door handle and became a "hand-picked star".

In the design of headlights and taillights, Zunjie has also implemented the design element of "starry sky" with full details.

As for more design details, Yu Chengdong said that he would slowly disclose them in the future.

In terms of power, Zunjie S800 has confirmed that it will be a hybrid model with 3 motors. It seems that the bosses who buy millions of luxury cars also have endurance anxiety and a restless heart.

Of course, in addition to benchmarking Rolls-Royce in appearance and interior, Zunjie has to show some "housekeeping skills".

As the main intelligent new energy vehicle, science and technology must be the most "luxurious" inside of Zunjie.

Zunjie follows the concept of the Sixth Generation Machine, and uses the latest Huawei "8S" design standard, which shows Huawei’s closet strength in cruise, mobility, information perception, privacy, network connection, AI, active protection and reliability.

Huawei’s most advanced "Turing II Long Xing Platform" is also said to be "the first to create a century-old chassis structure", which directly refers to Bentley’s hard work.

In terms of intelligent driving that everyone is concerned about, Zunjie directly piled up the materials and gave L3-level autonomous driving technology.

You know, in the field of autonomous driving, L2 to L3 levels are the watershed of intelligent driving from "human intervention" to "unmanned intervention".

Although the domestic autonomous driving authority is only open to L2 level, Zunjie boldly declared L3 this time to tell the market that we already have L3 strength, just waiting for the policy to be opened!

The courage of this "leading version" has to be said to be very Huawei.

Of course, the 1 million to 1.5 million and 20,000 down payment from the venerable world are also showing their dignity everywhere.

The market reaction also proves the "success" of Zunjie from the side.

48 hours after opening the reservation, Zunjie received an impressive record of 2,108 orders. You know, in 2023, Rolls-Royce sold 1,600 units in China.

Yu Chengdong’s dream of "turning over a lot of work" seems to be in progress.

02

Can JAC support Huawei’s high-end dream?

Since its appearance, the distinguished circles have disputed and ordered Qi Fei.

In fact, we don’t doubt Huawei’s ability to hack into high-end, but we are worried about another "dad" in the respected world.

After all, before Zunjie, JAC had little experience in manufacturing top-end vehicles.

Jianghuai Automobile, founded in 1964, is the "eldest son" of Anhui automobile industry.

Like other old-fashioned domestic cars, JAC started from trucks and slowly transformed into passenger cars until the 1980s.

Without the assistance of foreign capital, JAC completely developed and designed the first special chassis for passenger cars in China in the 1980s, which reached a milestone in the history of China’s automobile industry.

In the next few decades, Jianghuai has been developing both trucks and passenger cars. Not only did it cooperate with Hyundai for a short time, but it also developed many independent models.

Among them, the most prestige is Ruifeng commercial vehicle launched by Jianghuai. Because of its excellent quality, it has become the first choice for national government agencies to purchase MPV models.

However, in the era of new energy, Jianghuai is also in crisis like other car companies.

In 2013, Jianghuai Automobile was exposed by CCTV 315 because Tongyue model was suspected of cutting corners. Since then, Jianghuai’s reputation and reputation have plummeted, and original models have stopped developing. In the end, they can only rely on OEM business to continue their lives.

Jianghuai’s attempt at new energy vehicles is also superficial. After making several water testing works, there is no movement anymore.

Fortunately, in 2016, Jianghuai ushered in a savior:Weilai automobile

At that time, Weilai, who had just started to build a car, was worried because he didn’t have the qualification to build a car, and Jianghuai Automobile was anxious because of outdated business.

Coincidentally, the two companies hit it off, Weilai came out to design and Jianghuai came out of the factory, which jointly propped up the first half of Weilai Automobile.

In order to promote Jianghuai, Li Bin even claimed in an interview that "Porsche’s factory is definitely not as good as Jianghuai’s factory." Caused a lot of controversy.

In addition to Weilai, JAC and Volkswagen jointly established "Volkswagen JAC" and launched the brand "Volkswagen Sihao", but compared with Weilai’s success, Sihao’s existence is very thin.

Generally speaking,Weilai, as a brand that hits the middle and high-end among the new forces, has brought rare experience in manufacturing middle and high-end new energy vehicles to Jianghuai.

And this may be that after Jianghuai and Huawei held hands, the first model hit the bottom of the 1 million luxury car.

At the press conference of Zunjie, Xiang Xingchu, chairman of Jianghuai Automobile, said:Everything is for the respect, for everything in the respect!

It seems that in order to hold Huawei’s thigh tightly, JAC has done its best.

As far as the current situation is concerned, Zunjie has made a good start for the cooperation between Jianghuai and Huawei, but whether it can "surpass Celes" depends on the future performance of Zunjie.

03

"dismembering" BBA, respecting the world is the most cruel knife.

A few years ago, domestic new energy vehicles were still called "toy cars and old people’s music".

The market’s expectation of new energy vehicles is to buy them back for daily transportation. As for track racing, hard-core off-road and business use, they are basically the world of traditional oil vehicles.

But in the automotive field, high-end means the right to speak.Therefore, for domestic car companies, this "hard battle" has to be played.

In less than a few years, domestic car companies have launched an impact on the site of old oil cars from various fields.

BYD’s hard-core off-road looks up to U8, and its target is the luxury off-road vehicle series represented by Mercedes-Benz G Class and Land Rover Range Rover.

Looking up at U8 with a price of 1.098 million yuan is also BYD’s "technology master". It is equipped with a unique Yunqi body control system and can literally go up the mountain and down the river, which is very hard-core.

Perhaps it is expected that U8′ s sales are declining, but its purpose has actually been accomplished: as the first new energy brand to hit the "solid position" of traditional oil vehicles, it will show the potential and strength of new energy vehicles at all levels.

In terms of track racing, although there are many players, Xiaomi SU7 Ultra can be said to be the best-known and best-performing.

The ordinary version of Xiaomi SU7 is full of competitive elements, whether it is a streamlined body, a "ten-second real man" model, or Lei Jun’s own "racing driver" marketing, all of which are promoting the "track model" Xiaomi.

When Xiaomi SU7 Ultra came out with the fastest four-door car in New North, it also marked the official entry of domestic new energy vehicles in the competitive field.

After the hard-core cross-country and track racing were all disrupted, Zunjie S800 hit the "last fortress" luxury administrative field of oil trucks.

This summer, Huawei has cooperated with BAIC to launch the Luxury Car Enjoyment S9. Many people will wonder, although the Enjoyment S9 is positioned lower than the Zunjie S800, it will not be "internal friction" if it is fired twice in the luxury car in less than half a year.

In fact, from the perspective of product positioning, respect and enjoyment are actually two different beings.

Many netizens believe that the significance of Zunjie S800 is actually more like the Mate XT three-fold mobile phone launched by Huawei this year. It does not seek to sell well, but it must appear to "blow up" the market.

The enjoyment of the world is to assume a positioning similar to Mate 70, which is more biased towards the mainstream market.

However, whether domestic new energy vehicles are "really luxurious" or "high-end" depends on the precipitation of the market and subsequent feedback.

Domestic new energy has the strength of European luxury cars, but the time behind luxury cars still needs to be precipitated and accumulated to overturn.

After all,Subversion can’t be achieved overnight, but at least you have to make a beautiful start.

ICAR brand, which is independent of Chery New Energy, is specially designed for young people who pursue independence, self-creation and freedom. Its first model, Chery iCAR 03, adopts an unusual "square box" shape and locates a "tidal box electric SUV", which brings a completely different visual experience from the mainstream pure electric SUV. In addition to the excellent face value, what are the highlights of Chery iCAR 03 in terms of core power and intelligence? What is the future market trend? This issue of "Quality Car Selection" will be explained in detail for everyone.

I. Basic Information and Product Highlights

The above manufacturer’s guide price only represents the price on March 22, 2024. If there is any change, please take official website as the standard.

Chery iCAR 03 has launched six models with the price range of 1098-169800 yuan. Based on the new energy architecture of i-MS multi-element Rubik’s Cube, the new car adopts the unique i-BOX box design aesthetics, and is equipped with a pure electric drive system, providing two-wheel drive and four-wheel drive modes to achieve a balance between performance and energy consumption.

Chery iCAR 03 is equipped with a unique i-ROAD electric four-wheel drive system, which can realize intelligent switching between two-wheel drive and four-wheel drive and real-time distribution of dynamic torque. With the chassis structure of H-arm multi-link rear suspension and hydraulic bushing, as well as 8+X all-road driving mode and three extreme conquest modes, Chery iCAR 03 has all-terrain adaptability and can easily conquer different road conditions.

Chery iCAR 03 is equipped with i-VA four-tone intelligent voice control system, which supports full-scene voice control, navigation, multimedia, car control and other voice commands of about 500+ words. It can be said that the interactive experience is more outstanding. The new car is also equipped with the latest generation of pure vision scheme of DJI in-vehicle intelligent driving. It has a forward-looking 800W binocular camera, does not rely on laser radar and high-precision maps, has the ability to identify any kind of obstacles and road perception without learning in advance, and can realize high-order auxiliary driving functions such as high-speed NOA, urban memory driving, cross-layer memory parking, and tracking and reversing.

Chery iCAR 03 adopts the original all-aluminum multi-cavity cage body design, and the key parts are integrated die-casting structure. The torsional stiffness of the car body reaches 25804 N m/deg, which is 30% higher than that of the traditional steel car body. The battery is made of lithium iron phosphate battery with high energy density, 10mm battery protective armor with sandwich structure, 1000°C ultra-high temperature mica protective upper cover and 6 series aviation aluminum alloy lower shell, which can resist sudden dangers such as stone impact and vertical extrusion of objects. Full-time thermal runaway of BMS can be monitored and warned in real time, and alarm can be given within 5 minutes after thermal runaway to ensure the safety of occupants in the car.

Second, product competitiveness analysis

The above manufacturer’s guide price only represents the price on March 22, 2024. If there is any change, please take official website as the standard.

Because Chery iCAR 03 adopts a unique "square box" shape and is equipped with a pure electric power system, there are not many models that can directly compete with it at present. With reference to its starting price of 100,000 yuan, looking at the pure electric compact SUV market segment, this paper selects BYD PLUS Glory Edition and AION Y Plus to compare with Chery iCAR 03.

From the price point of view, the entry-level model of Chery iCAR 03 is slightly higher than AION Y PLUS, but lower than BYD Yuan Plus Glory Edition. In terms of the highest selling price, Chery iCAR 03 is also between BYD Yuan PLUS Glory Edition and AION Y Plus. Chery iCAR 03 offers six models with different configurations, including single-motor and dual-motor power. Although the number of models is less than that of AION Y PLUS, it is more than the glory version of BYD Plus, and the power types are more abundant than the other two cars.

Configure the comparison link, and try to select three models with similar prices for comparison. Except Chery iCAR 03 equipped with dual-motor four-wheel drive system, the other two models are single-motor configuration, and their performance is slightly inferior. At the same time, the CLTC pure electric cruising range of the three models has not widened. In terms of other configurations, Chery iCAR 03 is only equipped with basic active and passive safety configuration, and does not provide assisted driving function, while the other two models are equipped with L2-class assisted driving system. Comparatively speaking, Chery iCAR 03 has obvious advantages in convenient configuration and vehicle functions, equipped with electric suction tailgate and keyless entry function for the whole vehicle, and provided four-zone voice wake-up recognition, which is more convenient for daily use.

Third, product quality & service trend analysis

As the first model of a brand-new brand, will Chery iCAR 03 have hidden quality problems? In this regard, we will start with the failure problems of Chery New Energy’s models in the past year, and through the analysis of the failure problems, we will preliminarily predict the development trend of new car quality problems in the future.

According to the data of Chezhi. com, the number of quality complaint fault points of Chery New Energy’s models in the past year is relatively large, mainly from small ant models. Because Chery iCAR 03 is built on the new energy architecture of i-MS multi-element Rubik’s Cube and equipped with the latest pure electric drive system, it can be considered that the probability of the above problems is low for the time being, and the specific situation will not be conclusive until it is used for a period of time.

With the continuous development of China’s automobile market, the level of brand pre-sales/after-sales service and the quality of purchase experience have gradually become an important factor affecting consumers’ final purchase. Therefore, based on the big data of car quality network, we will analyze the common service problems of brands in the past year to provide more objective reference for consumers to buy models.

From the point of service complaints, the number of complaints about "no spare parts" and "selling defective cars" is relatively high. Through further analysis, we can see that these problems mainly come from QQ ice cream and Little Ant.

In terms of measuring the after-sales service reputation of new cars, we will analyze the response of enterprises to complaints from car owners, and relatively objectively predict the future after-sales service reputation of new cars. According to the data of Chezhi. com, the response rate of Chery’s new energy complaints in the past year was 89.2%, ranking in the middle and upper reaches of independent brands in the same period. It can be seen that manufacturers pay more attention to the demands of car owners.

Four, after-sales service policy and network distribution

In terms of after-sales service policy, you can enjoy the lifetime vehicle warranty+lifetime three-electricity warranty+lifetime free rescue (the first private user), and you can also enjoy the free original charging pile+free installation service. (Please consult your local dealer for details)

After the vehicle is purchased, it is bound to involve the daily maintenance of the vehicle. At this time, the number and distribution of brand dealer stores are very important, and even have a certain impact on whether consumers buy the brand model. According to the statistics of Chezhi. com, Chery New Energy currently has 161 dealer stores in China, covering 27 provinces, autonomous regions and municipalities directly under the Central Government, with a relatively large number of dealers in Shandong, Zhejiang and Jiangsu provinces.

Summary:

As the first model of independent brand iCAR under Chery New Energy, Chery iCAR 03 has successfully attracted the attention of young consumers with its unique "square box" design and perfect intelligent configuration. In the face of fierce competition in the domestic new energy vehicle market, Chery iCAR 03, which focuses on young and personalized positioning, cleverly avoids the encirclement of potential competitors, opens up a unique market segment, and is expected to lead pure electric SUVs to the new trend.

　　Can the capital increase of 800 million yuan help Tengshi, which has suffered losses for many years, enter the blue ocean of new energy vehicle market?

　　Text: Yun Zhu

　　Recently, BYD Co., Ltd. (002594.SZ, referred to as "BYD") announced that it and Daimler Greater China Investment Co., Ltd. (referred to as "Daimler") each increased their capital by 400 million yuan to the joint venture company Shenzhen Tengshi New Energy Automobile Co., Ltd. (referred to as "Tengshi"). So far, Tengshi’s registered capital has increased from 3.36 billion yuan to 4.16 billion yuan, and the shareholding ratio of both shareholders is still 50: 50.

　　As soon as the news came out, there were mixed opinions about Tengshi Automobile’s capital increase of 800 million yuan. Some people thought that this 800 million yuan was Tengshi Automobile’s "life-sustaining money", while others thought that 800 million yuan was not enough for Tengshi to continue to "burn".

　　Both Tengshi Automobile and BYD said in reply to the interview with Business School that through this capital increase, Daimler and Biyatong jointly promoted the upgrade of Tengshi products and services and the expansion of sales and service networks.

　　Tengshi Automobile, established in 2011, is a high-end new energy automobile brand jointly established by BYD and Daimler. Seven years after the Chinese New Year, the development of new energy vehicles in China is in full swing, and Tengshi Automobile is still losing money. When Tengshi really enters the blue ocean of new energy vehicles and realizes profit, it has become the focus of the industry.

　　Ungrounded?

　　It is an indisputable fact that Tengshi Automobile has been losing money. "Business School" reporters checked the sales and financial situation of Tengshi Automobile in the past three years. According to the data, the sales volume of Tengshi Automobile in 2015 was 2,888, in 2016 it was 2,287, and in 2017 it was 4,713. Financially, from 2015 to 2017, Tengshi Automobile lost 570 million yuan, 1.3 billion yuan and 480 million yuan respectively, with a total loss of 2.61 billion yuan.

　　From 2015 to 2017, it was the three years of rapid development of new energy vehicles in China. According to the statistics from China Automobile Association, in 2015, the cumulative sales of new energy vehicles in China was 330,000, in 2016, the sales exceeded 500,000, and in 2017, it was 777,000, which can be said to be "step by step".

　　Compared with the sales volume of the whole new energy vehicle, it is not difficult to find that Tengshi did not enjoy the dividend of the rapid growth of China’s new energy market. Tengshi replied to the reporter: "Tengshi’s products have not only undergone rigorous experimental verification and testing, but also withstood the market test in the fierce market environment. Through market practice, Tengshi has accumulated a large amount of product data and rich experience, which has made sufficient preparations for the development of the new energy automobile industry in the next stage. With the implementation of the national new energy vehicle strategy, Tengshi has taken the lead. While providing consumers with a new green travel experience, it has promoted the development of the pure electric vehicle market in China with practical actions. "

　　Indeed, Tengshi is one of the pioneers of new energy vehicles in China. However, when the new energy vehicles are excellent, the sales performance of Tengshi vehicles is mediocre. Zhang Xiang, an independent automobile consultant, admitted to the reporter that in the past few years, due to the immaturity of battery technology and new energy vehicle manufacturing technology, the rapid growth of new energy vehicles was mainly concentrated in the A0 and A market segments.

　　Tengshi Automobile has been positioned as a high-end vehicle since its birth. In 2016, the price of Tengshi 300 was 369,000-399,000 yuan. If it is purchased in Beijing and enjoys state subsidies and local subsidies, the price will be around 250,000 yuan. At that time, BYD, Jianghuai, Beiqi New Energy and other manufacturers launched new energy vehicles, and the subsidized price was around 100,000 yuan. Most car owners buy new energy vehicles in order to "occupy the number" and "be a spare tire". Positioning the high-end makes Tengshi "ungrounded" and the sales performance is flat.

　　Zhang Xiang believes that with the maturity of new energy vehicle technology and the expansion of the market, consumers have put forward higher requirements for new energy vehicles, and the development of B-class vehicles and SUVs is the general trend. "The price of Tengshi was a little expensive before, and it was close to the price of Tess." Zhang Xiang said.

　　An industry insider who didn’t want to be named visited Tengshi many times. He told the reporter of Business School that Tengshi needs further improvement in human-machine interface, car entertainment and car networking design. For example, during his visit to the store, he found that the salesperson did not know how to monitor the battery status with the mobile App, or the traditional sales logic.

　　When will the break-even line of 200,000 vehicles break?

　　In recent years, new brands in China automobile market have emerged constantly, with ups and downs, and many people have sweated for the new forces of making cars. However, Tengshi Automobile is backed by Daimler and BYD, and it is not "starting from zero" in terms of vehicle development, battery technology and supporting supply chain. Why can’t it escape the "curse" of loss?

　　Zhang Xiang believes that the general law of the whole automobile manufacturing, whether it is a traditional automobile or a new force to build a car, can’t be broken. "The automobile industry is suitable for the law of economies of scale. An automobile manufacturer has accumulated more than 200,000 vehicles before it has economies of scale. After all, it takes a lot of money to build a production line, build four major processes, set up a sales network, and develop products. If the sales volume does not reach 200,000 vehicles, it will always be a loss. “

　　In fact, Tesla, as the representative of the new car-making force, has sold more than 250,000 cars, but this "curse" has not been broken. "In the early stage, Tesla sold one car and lost another, relying on Wall Street to continue investing to survive. After more than 200,000 sales, the financial situation is still not optimistic. "Zhang Xiang said.

　　And the founders of a group of new forces that build cars have always said that building cars is a matter of burning money.

　　"Building a car requires ingenuity, and building a smart car costs money in the first three years. It is impossible to have enough financing in the first three years. I think that even a team with great experience in industry R&D and supply chain will need at least 20 billion yuan to burn the company with products listed and cash income." Shen Hui, founder of Weimar Automobile, said.

　　"Building a car is a very expensive thing, so if a startup wants to build a car, it needs at least 20 billion yuan to prepare, otherwise it will not be done well." Li Bin, founder of Weilai Automobile, once said.

　　At present, Daimler and BYD have invested a total of 4.16 billion yuan in Tengshi. According to the reporter’s rough statistics, Weimar Automobile has accumulated more than 6.6 billion yuan, Xpeng Motors has more than 5 billion yuan, Weilai Automobile has accumulated 14.6 billion yuan in the first five rounds of financing, and LeTV has accumulated 11.3 billion yuan …

　　Although Tengshi is not the highest amount of financing among all the cars, it is obvious that Tengshi’s existing funds are stretched, and it needs "blood transfusion" in the future.

　　"Building a car can’t be done overnight. The automobile industry needs continuous high-input characteristics, which is doomed to be a long-term goal. However, the front load of profit must be based on taking consumers as the core and ensuring the quality of brands and products. In the future, Tengshi will continue to promote the development of new energy vehicles in China with the help of high-quality resources of both shareholders, so that more China consumers can enjoy the green travel brought by Tengshi. " Tengshi said.

　　BYD told reporters that Tengshi’s shareholders have always been willing to provide financial, technical and talent support for its development. This capital increase once again shows Daimler and BYD’s optimism about China’s new energy market, and also recognizes Tengshi’s brand development potential, and releases their confidence in Tengshi’s long-term development to the outside world.

　　In recent years, new forces of car-making have emerged. After visiting auto china in 2018, Shen Jun, managing director of Accenture Strategy, told the reporter of Business School that the biggest change of this year’s auto show was that a number of "PPT" cars were produced in mass production. It can be seen that the market structure has changed. In the field of high-end new energy vehicles, Tesla may be the only competitor in the past, but in 2018, there will be a wave of new competitors, including Weilai, and high-end new energy vehicles launched by traditional automobile manufacturers. "Tengshi welcomes more peers to join this industry, and only more enterprises can better promote the development of China’s electric vehicle industry." Tengshi said.

　　Zhong Shi, a well-known commentator in the automobile industry, believes that whether a car company can make a profit depends on the third car. The first car will become a brand, the second car will consolidate its advantages and test the market heat, and the third car will be mass-produced. Tengshi adopts an "iterative" approach. At present, Tengshi 500 is listed, which is its third car. Facing many new entrants, Tengshi has also entered a critical period that determines success or failure.

　　Start the marketing war

　　According to the announcement, the capital increase of Tengshi shareholders is mainly used for personnel expenses, market advertising expenses, payment of goods to suppliers, repayment of bank principal and interest expenses, vehicle purchase, battery upgrade and testing, and construction of service network.

　　Previously, Tengshi Automobile left a relatively low-key impression on reporters, and there were not many marketing advertisements exposed. In terms of sales network, Tengshi has not many sales outlets, but many prospective car owners have found that Tengshi has been selling at the same store in Mercedes-Benz’s 4S shop.

　　In the retail industry, many small brands often spend a lot of money to live next to luxury brands in order to gain more attention and attention. MK, Coach and other luxury brands have achieved rapid growth in this way.

　　In the automobile retail industry, Tengshi did not "live next to" Mercedes-Benz, but moved directly to Mercedes-Benz’s 4S shop, which on the one hand can expand the terminal quickly and at low cost, so that consumers can contact Tengshi’s products very conveniently; On the other hand, it can enhance Tengshi’s brand awareness and influence, because Mercedes-Benz is one of the most typical representatives of luxury cars.

　　This original intention is good, but Zhang Xiang observed that Tengshi was with Mercedes-Benz and thought that users would think Tengshi was a luxury new energy vehicle, which was acceptable, but not many people paid the bill in terms of sales volume.

　　In addition, in terms of charging pile facilities, Zhang Xiang believes that Tengshi is not as heavily invested as Tesla. At present, the number is not particularly large. The charging pile with Tengshi logo is not open to social new energy vehicles. On one occasion, he charged Tengshi on a public charging pile, and there was also a situation in which the power did not increase but decreased after charging.

　　Next, Tengshi will greatly expand its sales network. Tengshi is inextricably linked with BYD. At present, the general trend of the whole automobile industry in China is "self-improvement". Like Geely, Chang ‘an and Great Wall, BYD is also developing high-end products. Will BYD and Tengshi have the problem of "fighting each other"?

　　In BYD’s view, the positioning of the two brands is different. BYD relies on self-produced Chinese products to form brand radiation. Under BYD’s main body, Tengshi will focus on the demand of China consumers, focus on the research and development of electric vehicle technology, and constantly develop new energy vehicles with environmental protection, energy saving, safety and comfort, and excellent quality. BYD believes that China’s high-end new energy vehicle market is still a blue ocean.

　　Now Tengshi’s problem is how to enter this blue ocean as soon as possible through the continuous improvement of product strength and brand strength.

　　When spring comes to China, it is new at the age of prosperity. In 2024, the curtain of the two national conferences will be opened.

　　Through the first year of fully implementing the spirit of the 20th National Congress of the Communist Party of China, under the strong leadership of the CPC Central Committee with the Supreme Leader as the core, China has made solid progress in building a socialist modern country in an all-round way.

　　This year marks the 75th anniversary of the founding of New China, and it is a crucial year to realize the objectives and tasks of the 14th Five-Year Plan. In the new historical coordinates, the National People’s Congress and the National People’s Congress will certainly base themselves on a new orientation, draw a new blueprint, and open up a new situation of comprehensively promoting the construction of a strong country and the great cause of national rejuvenation with Chinese modernization.

　　Shouldering the responsibility and mission, with great trust, NPC deputies and Committee member Chinese People’s Political Consultative Conference went to the grand gathering in spring.

　　Anchoring the construction of a strong country, focusing on the great cause of rejuvenation, and jointly writing a new chapter in Chinese modernization.

　　In the early spring, the loading and unloading of Changchun Xinglong Railway Port is busy. The Central European train (full of Europe) sounded its whistle and loaded another batch of domestic cars to the overseas market.

　　On June 8, 2023, Yang Yongxiu, chief skill master of FAW R&D Institute, checked the details of engine drawings. Xinhua News Agency reporter Xu Changshe

　　Yang Yongxiu, a deputy to the National People’s Congress, is a member of these automobile production lines. "At the beginning of the founding of New China, we built our own automobile factory. Last year, China became the world’s largest automobile exporter." He said with deep feelings that it is generations of people who continue to struggle and the country is moving towards prosperity step by step.

　　Proud years, engraved with glorious dreams.

　　The National People’s Congress in 2024 is at an important historical node — —

　　The 75th birthday of New China is coming, and we are one step closer to basically realizing socialist modernization in 2035. The goal of building China into a strong, prosperous, democratic, civilized, harmonious and beautiful socialist modernization power by the middle of this century is inspiring.

　　Focusing on the hard truth of adhering to the new era of high-quality development, the two sessions of the National People’s Congress will become an important platform for discussing major issues and making plans, and a key window for observing the overall situation and observing the general trend.

　　On February 28th, 2024, in the intelligent production workshop of Wuxi Weiyan Seiko Technology Co., Ltd., a small and medium-sized enterprise specialized in Jiangsu Province, the mechanical arm was working. Xinhua News Agency reporter Ji Chunpeng photo

　　Shan Zenghai, a representative of the National People’s Congress from Xugong Group, deeply remembers that at the deliberation site of the Jiangsu delegation last year, he reported to the General Secretary of the Supreme Leader that the localization rate of all terrain crane was constantly refreshing, and the General Secretary pointed out that "we should further upgrade to the middle and high end, and our high-quality development should be reflected here".

　　This year, he brought new good news, and the maximum lifting capacity of the wheel crane independently developed by the enterprise reached 4000 tons. "To March into a manufacturing power, we must fully climb the peak of the global high-end equipment manufacturing industry." Shan Zenghai said.

　　The rejuvenation of a powerful country is determined.

　　Jin Li, member of Chinese People’s Political Consultative Conference and vice-president of south university of science and technology of china, said that the Party’s Report to the 20th CPC National Congress has put forward a series of goals of strengthening the country, and the National People’s Congress and the National People’s Congress will once again issue a mobilization order to continuously promote the building of a strong country.

　　In 2024, the National People’s Congress and the National People’s Congress will focus on major milestones — —

　　The "Fourteenth Five-Year Plan" period is the first five years to start a new journey of building a socialist modern country in an all-round way and March towards the goal of the second century. This year is a crucial year to achieve the planned objectives and tasks.

　　The mid-term evaluation report on the implementation of the "Tenth Five-Year Plan" and the long-term goal outline in 2035 shows that 16 of the 20 main indicators basically meet or are faster than expected, and 96 of the 102 major engineering projects have made progress in line with expectations.

　　Cai Yuanqiang, deputy to the National People’s Congress and secretary of the Party Committee of Zhejiang University of Technology, said: "Entering the sprint stage, I believe that the government work report will make relevant arrangements when determining the goals and tasks of economic and social development throughout the year to ensure a good start in building a socialist modern country in an all-round way."

　　In 2024, the National People’s Congress and the National People’s Congress will bear new missions and tasks — —

　　After the 45th anniversary of reform and opening up and the 10th anniversary of the Third Plenary Session of the 18th CPC Central Committee, this year is another important year for comprehensively deepening reform. The main task is to plan for further comprehensive deepening reform.

　　People at home and abroad pay close attention to how China will use the key measure of reform and opening up to promote economic development, cope with risks and challenges, and enhance people’s livelihood and well-being.

　　Write a continuation of practice and start a new chapter of the times.

　　After 30 years of hard work in Shenzhen, Nie Zhuqing, a member of Chinese People’s Political Consultative Conference, was a witness and beneficiary of the reform and opening up, from working to starting a business to leading enterprises into the forefront of the industry.

　　Looking forward to the future, Nie Zhuqing said: "Reform brings opportunities, opening up and expanding the market. I hope that with the promotion of the National People’s Congress, China’s reforms in all aspects will be promoted in an orderly manner and the opening up will be greater, which will better stimulate the enthusiasm for entrepreneurial innovation and creation."

　　Build consensus, work hard, and take solid steps in the crucial year.

　　People are diligent and spring comes early, and forging ahead is at the right time.

　　"The Spring Festival tourism is in full swing, and large-scale projects are concentrated, so my hometown is busy in the beginning of the year." "As an agricultural technician, I have been running around the farmland affected by floods last year to help my fellow villagers prepare for spring ploughing" … … The deputies have brought messages of spring from all over the country.

　　On February 2, 2024, a container ship docked at the "Smart Zero Carbon" terminal in Tianjin Port (photo of drone). Xinhua News Agency reporter Zhao Zishuo photo

　　According to the latest data, the business activity index of China’s service industry was 51.0% in February this year, up 0.9 percentage points from the previous month, and the expansion of the service industry was enhanced.

　　In the new year, the complexity, severity and uncertainty of the external environment are rising, but the basic trend of China’s economic recovery is good and long-term good has not changed. The favorable conditions for development are stronger than the unfavorable factors, and it is full of hope and promising.

　　Focusing on the key year, the National People’s Congress and the National People’s Congress will further implement the decision-making arrangements of the CPC Central Committee — —

　　The Central Economic Work Conference made it clear that we should persist in striving for progress in stability, promoting stability through progress, establishing first and then breaking, and the special seminar for leading cadres at the provincial and ministerial levels to promote high-quality financial development aimed at major themes. The fourth meeting of the Central Financial and Economic Committee studied issues such as large-scale equipment renewal and trade-in of consumer goods … … A series of decision-making arrangements made by the CPC Central Committee have pointed out the direction and provided guidance for doing a good job in related work this year and in the coming period.

　　"Implementing the major policies and decision-making arrangements of the CPC Central Committee is an important task of the two sessions of the National People’s Congress." Zhang Lianqi, member of the Standing Committee of Chinese People’s Political Consultative Conference and president of China Enterprise Financial Management Association, said that the government work report, after being passed by voting, has legal effect, which will make the party’s ideas take root, maintain the consistency and stability of policy formulation and implementation, achieve precise, coordinated and sustained efforts, and boost the confidence of the whole society with pragmatic actions.

　　"Not long ago, we released a new version of the Spark Cognitive Model." Liu Qingfeng, deputy to the National People’s Congress and chairman of Iflytek, said that the big model technology is accelerating the arrival of the era of general artificial intelligence, which is a typical case of the rapid development of new quality productivity.

　　From 2023, when General Secretary of the Supreme Leader made a local inspection, to this year, the Political Bureau of the Central Committee focused on collective learning for the first time, and how to speed up the development of new quality productivity was widely concerned.

　　A number of deputies said that during the two sessions of the National People’s Congress, new quality productivity will be a hot topic, and many plans will be promoted one after another.

　　With broad consensus, the National People’s Congress and the National People’s Congress will further gather the joint efforts of peers in the same direction — —

　　On August 11, 2023, tourists visited the green mountains and green hills in Yucun Village, Tianhuangping Town, Anji County, Zhejiang Province (photo of drone). Xinhua News Agency reporter Weng Yushe

　　In Yucun Village, Tianhuangping Town, Anji County, Zhejiang Province, there have been many new events recently: the bamboo forest carbon sink brought considerable income to the village last year, and more than 50 projects of "Yucun Global Partner" have been implemented, and the construction of "Dayu Village" has promoted common prosperity from point to area … …

　　Wang Yucheng, deputy to the National People’s Congress and secretary of the Party branch of Yucun Village, said: "I hope that through our successful practice, we will further enhance the consensus of the whole society and unswervingly follow the road of modernization suited to China’s national conditions."

　　Consolidate unity through consensus, and in unity, Qi Xin will work together.

　　"To overcome key core technologies and achieve high-level scientific and technological self-reliance, it is necessary for Industry-University-Research to work hard and twist into a rope. I am going to discuss with relevant representatives in depth the institutional and basic issues of improving the ability of scientific and technological innovation at the meeting, and promote the development of the same frequency resonance of the science and technology industry. " Ma Xinqiang, deputy to the National People’s Congress and chairman of South China University of Technology, said.

　　Looking forward to the beautiful blueprint, the National People’s Congress and the National People’s Congress will further boost their energetic spirit — —

　　"Good life is done." Wen Shanlian, deputy to the National People’s Congress and secretary of the Party branch of the post-90s village in Jingkou Village, Fangtai Township, Xingguo County, Jiangxi Province, has a deep understanding of unity and cooperation and overcoming difficulties.

　　Last year, Jingkou Village developed rural characteristic industries by simultaneously cultivating long-term industries such as navel orange and tea and hot industries with good market prospects. The per capita income of villagers reached 23,000 yuan.

　　Bird’s-eye view of Lianshan Community in Daixi Town, Huzhou City, Zhejiang Province (photo of drone, taken on June 21, 2023). Under the guidance of "Ten Million Projects", Daixi Town has made every effort to develop a beautiful economy, and the rural landscape has also undergone tremendous changes. Xinhua News Agency reporter Weng Yushe

　　Wen Shanlian said: "This year, the No.1 Document of the Central Committee proposed learning and application ‘ Ten million projects ’ Experience, how the National People’s Congress and the National People’s Congress will portray a new picture of comprehensive rural revitalization, we are looking forward to it. "

　　The world is vast, and drums are used to urge the levy.

　　Qi Xiangdong, a member of Chinese People’s Political Consultative Conference, is the chairman of Chianxin Science and Technology Group, which has gone through 10 years of coordinated development with Beijing-Tianjin-Hebei and took the lead in settling in xiong’an new area.

　　"Xiong’ an has a massive digital new scene, and new opportunities are everywhere." Qi Xiangdong said, "We plan to set up a digital city security headquarters and a digital city network security research institute in Xiong’ an to reach a new level in the next decade of coordinated development of Beijing-Tianjin-Hebei."

　　Listen to public opinion, gather people’s wisdom, and practice people’s democracy in the whole process.

　　"The people elected me as the representative, and I was the representative of the people." This is what Guo Fenglian, deputy to the National People’s Congress and secretary of the Party branch of Dazhai Village, Dazhai Town, Xiyang County, Shanxi Province, often talks about.

　　Democracy in China is deeply rooted in the people.

　　From being elected as the representative of the Fourth National People’s Congress in his twenties to being elected for the seventh time in his seventies, this old representative has never forgotten to perform his duties for the people, from giving advice on managing rural garbage to promoting rural old-age care.

　　Guo Fenglian said: "I come from the countryside and live in the countryside. I deal with farmers every day. What I think most about as a representative is how to make farmers live a better life."

　　This year marks the 70th anniversary of the founding of the National People’s Congress and the 75th anniversary of the China People’s Political Consultative Conference.

　　From the founding of New China to the realization of the people being the masters of the country to the development of people’s democracy in the new era, China’s democratic system has been continuously improved and democratic forms have been continuously enriched.

　　The two sessions of the National People’s Congress will write a new footnote for the whole process of people’s democracy.

　　This is a democratic transfer from the outside to the inside of the meeting — —

　　Hongqiao Street, Changning District, Shanghai is one of the first contact points of grass-roots legislation set up by the National People’s Congress Standing Committee (NPCSC) Law Committee in China, and grass-roots public opinion has caught the legislative through train.

　　On February 7, 2023, Sheng Hong (fourth from the right) listened to the opinions and suggestions of relevant people on the Charity Law of the People’s Republic of China (Revised Draft) at the consultation meeting held at Gubei Citizen Center in Hongqiao Street, Shanghai. Hongqiao Street is one of the first four grass-roots legislative contact points established by the National People’s Congress Standing Committee (NPCSC) Law Committee in 2015. Xinhua News Agency reporter Liu Ying photo

　　In September last year, a consultation meeting on the draft pre-school education law impressed Sheng Hong, deputy to the National People’s Congress and secretary of the Party branch of the fourth residential area in Gubei Ronghua: "When soliciting opinions from community residents, many foreign residents also put forward suggestions, and I brought them to the consultation site."

　　This year’s National People’s Congress, her focus is still on the community. "I hope to reflect the social conditions and public opinion collected by myself, so that more people’s thoughts and hopes can be integrated into the top-level design of national development." Sheng Hong said.

　　This is the people’s livelihood relay from the meeting to the meeting — —

　　Last December, an earthquake with a magnitude of 6.2 occurred in Jishishan County, Gansu Province, and the newly opened Linda Expressway became a life channel leading to the disaster area. The local people on this road have been looking forward to it for a long time. In 2019, the proposal put forward by Dong Caiyun, a representative of the National People’s Congress, promoted the construction.

　　On February 6th, 2024, Dong Caiyun made an investigation in Bulenggou Petrochemical Primary School, dongxiang county, Linxia Prefecture, Gansu Province. Xinhua News Agency reporter Guo Gang photo

　　After being elected as a delegate for the second time, as the vice-president of Linxia Open University, Dong Caiyun thought more deeply about education. This year, she brought some suggestions, such as further increasing the inclination of high school degree supplement projects in ethnic areas: "I will go all out to promote the high-quality development of rural education."

　　In the Great Hall of the People, the people’s palace, democracy and people’s livelihood will blend and resonate.

　　Every year, at the two sessions of the National People’s Congress, the General Secretary of the Supreme Leader cordially communicates with the deputies and discusses the country.

　　Plenary meetings and group deliberations of NPC delegations, consultative meetings of CPPCC sectors and speeches at the conference … … During the two sessions, the deputies will carefully consider and discuss, collide with ideas and exchange views according to the agenda of the meeting.

　　From press conferences and press conferences, to delegates’ channels, committee members’ channels and ministers’ channels, the two sessions will send a good voice of China’s development and progress to the world.

　　Let democracy take root and let public opinion flow directly.

　　On February 28, 2024, the elderly practiced calligraphy in the activity room of Daai Academy Pension Center in Xianghe County, Langfang City, Hebei Province. Xinhua News Agency reporter Wang Xiaoshe

　　At present, the people still have many urgent problems in education, medical care and employment.

　　Ma Jun, member of Chinese People’s Political Consultative Conference and vice president of Luoyang Institute of Technology, said that he would carry forward the glorious tradition of the CPPCC, focus on the "country’s greatest power", pay attention to the people’s concerns, actively advise on politics, and live up to his mission.

　　Facing the spring breeze, take advantage of the situation.

　　The National People’s Congress and the National People’s Congress will inspire the people of China to strengthen their confidence, unite as one, condense their wisdom and strength into the strategic deployment determined by the CPC Central Committee, and unswervingly forge ahead toward the grand goal of building a strong country and national rejuvenation.

　　Text reporters: Zhao Chao, Xiong Zhengyan, Tan Xiaoxiao, Duan Xu, Wu Tao, Lu Chang.

　　Poster design: Jiang Zihan

　　Editors: Jindi, Wang Naishui, Zhang Shanchen, Song Weiwei, Zhang Manyi, Guo Yu, Wang Haocheng, Hou Bangxing

　　Coordinator: Wang Jie and Fang Sixian