标签： 南京夜生活交流

Text | Jinjiao Finance, Author | Dongli

With the official announcement of the Xiaomi 14 series mobile phone conference on October 27, Xiaomi 14 immediately boarded the hot search. In this regard, Lei Jun responded enthusiastically: "Don’t worry, this product is very strong!"

One day later, Lei Jun announced that Xiaomi’s self-developed new operating system Xiaomi 澎湃 OS will be launched soon, and Xiaomi 14 series will be the first mobile phone equipped with the new system, and MIUI, which has served for 13 years, will gradually fade into the dust.

In fact, Xiaomi 澎湃 OS is not only an upgrade and replacement of MIUI, but also a brand-new ecological operating system, and it is also ready for the upcoming car system. As Lei Jun said, this is "a key leap towards" people and cars ".

With the increasing involution of the mobile phone track in recent years, and the mobile phone becoming the connection entrance of intelligent hardware including automobiles and home appliances, the mobile phone with "no volume" in hardware has finally come to the software arena by the express train of the Internet of Things.

Xiaomi has always pursued the development model of "soft and hard combination". Even the first product of Xiaomi is the operating system software like MIUI. Coupled with the self-developed system of Apple and Huawei, "Zhuyu is in the front", Xiaomi really has no reason not to develop its own operating system.

Nowadays, MIUI, which has been with Xiaomi users for 13 years, is about to retire, and the OS, which has been dormant for 9 years, has finally come to the sun, becoming a key hub to help realize the ecological closed loop of Xiaomi’s "people and cars".

At such a critical moment, Xiaomi automobile failed to show up, and the current new energy vehicles have been seriously involved. It is not easy for Lei Jun to realize the ecological closed loop of "people and cars".

As Xiaomi 澎湃 OS takes the stage, MIUI will gradually retire.The operating system developed by Xiaomi twice has different development stages and missions.

Looking back at the birth of MIUI, on August 16th, 2010, MIUI, as the first product of Xiaomi, was officially launched, and it was constantly updated and iterated at the pace of one shift every year. By last December, MIUI had evolved to MIUI 14.

For more than ten years, MIUI has only four commonly used functions from the first edition, and has gradually become the underlying deep framework of cross-end interconnection; The radiation scope of MIUI has also expanded from the earliest 100 "dream sponsors" to 1.175 billion cumulative users worldwide.

The birth of MIUI means that when Xiaomi chose to cut into the market at a low price with a cost-effective advantage in the early stage of its business, it neutralized the low-end and cheap atmosphere when Xiaomi’s hardware equipment was not dominant, adding the charm of quality and making Xiaomi’s mobile phone stand out.

For example, they are all customized systems developed based on Google Android, but MIUI is more beautiful and refreshing, perfectly supports the display of Chinese fonts, and even includes alarm clock functions for the lunar calendar and weekdays.

Even so, MIUI, after all, is a third-party mobile operating system based on the deep optimization, customization and development of the Android system under Xiaomi, so it can’t get rid of the drawbacks of the bloated, stuck and unstable Android system.

At the same time, in the era of Internet of Everything, with the growing ecological chain of Xiaomi, and the release of Xiaomi car is in sight, the complexity and huge number of operating system branches involved in various devices, as well as the ecological connection gap between different systems and protocols, have become challenges that cannot be ignored.

At present, MIUI obviously can’t afford such a large-scale interconnection. The biggest problem caused by all kinds of accumulated disadvantages and inconveniences is to push up the cost of development and maintenance, and even discourage users because of the unsmooth experience.

The birth of Xiaomi 澎湃 OS is precisely to solve this problem. Its goal is to build a unified and extensible operating system framework to support all kinds of smart devices of Xiaomi, thus breaking down the barriers between different devices and different systems.

According to public information, when Xiaomi’s Internet of Things business began to take shape in 2014, Xiaomi had already started exploratory development and verification of the operating system. In 2017, Xiaomi officially started the research and development of a new operating system. And in 2020, it launched an operating system specially built for IoT devices — — Xiaomi Vela。

The word Vela comes from the Latin word "sail", which is a "real-time operating system" (RTOS) made by Xiaomi based on the foreign open source project "NuttX". The main target hardware is smart speakers, smart light bulbs, water meters and meters.

With the increasing number of "smart homes" connected by Xiaomi, what Xiaomi Vela has to do is to provide a unified platform for these smart home devices to manage and open up fragmented Internet of Things application scenarios.

Xiaomi 澎湃 OS inherited the Vela system. By "integrating the deeply evolved Android and the self-developed Vela system, it completely rewrote the underlying architecture and made a public base for the future tens of billions of devices and tens of billions of connections."

In other words, Xiaomi 澎湃 OS has carried the mission of the underlying base of the Internet of Everything since its establishment, and it has also become a powerful tool for Xiaomi to solve the current weak growth of the mobile phone market and start new growth with "the whole ecology of people, cars and homes".

A cruel reality in the mobile phone market is that only by expanding outward can we seize the future.On the one hand, Xiaomi makes efforts to build cars and home appliances, and broadens the ecology of Mijia. On the other hand, it deeply integrates them through innovations such as operating systems to stabilize the core position of the mobile phone business.

As the core entrance of the Internet of Everything, mobile phones are deepening the penetration of other business ecosystems of Xiaomi.

In addition to the TV business that was recently merged into Xiaomi’s mobile phone department, in the last three years, Xiaomi also split the notebook business and tablet business and merged them into the mobile phone department; According to many insiders, Xiaomi’s wearing department, which was established in 2020, was previously included in the R&D system of the mobile phone department.

According to Xiaomi insiders: "In the mobile phone ×IoT strategy, the mobile phone is 1, and the others are all behind 0."

On the one hand, mobile phones are still the basic disk of Xiaomi, accounting for more than 50% of revenue for many years; On the other hand, Xiaomi’s mobile phone business is under obvious pressure. The data shows that Xiaomi’s smartphone business revenue in the second quarter was 36.6 billion yuan, down 13.4% year-on-year; In the second quarter, smartphone shipments were 32.9 million units, down 15.8% year-on-year.

Compared with the low speed or even negative growth of mobile phones, Xiaomi’s IoT business has shown greater growth potential.

According to Canayls data, in June 2023, the number of active users of MIUI worldwide reached 606 million, a year-on-year increase of 10.8%; As of June 30, 2023, the number of IoT devices (excluding smartphones, tablets and laptops) connected to Xiaomi’s AIoT platform has increased to 655 million, a year-on-year increase of 24.2%.

Xiaomi started the layout of smart home ecology in the early stage of its business. In 2013, it started the ecological chain plan, and planned to "invest in 100 ecological enterprises in five years", and formed a unique Mijia ecological chain, among which there are many outstanding people in the segmentation field. For example, mi band is the product of cooperation between Xiaomi and Huami. Behind Xiaomi headphones is Wanmo Acoustics, and behind smart homes are enterprises such as Green Rice and Smart Rice.

The aggregated business with rich products and higher competition barriers such as "Family Barrel" has also attracted a number of mobile phone manufacturers.

For example, in recent years, Huawei has successively released many products including watches, tablets, headphones, whole house intelligence, etc. OPPO also started with TV to lay out smart home products, and made rapid progress.

Visible,In recent years, the "involution" of the mobile phone industry has been completely not limited to the mobile phone itself, but in ecology.

Today’s mobile phone camp, the two brands of Apple and Huawei, which are firmly stuck in the high-end market, have their own operating system, and at the same time, they have established the "Apple Family Bucket" and "Huawei Family Bucket" with exclusive applications, services and products.

In a practical sense, the self-developed operating system can not only promote the cause of the Internet of Things, but also help optimize the brand image and win the high-end market. At the same time, through the self-developed operating system to reduce costs and increase efficiency, we will build a moat of technology and services, get rid of dependence on Android, and reduce all aspects of research and development costs and the risk of "stuck neck" sanctions.

Before Xiaomi, Huawei’s HarmonyOS system and Apple’s iOS were worthy of reference. For example, Huawei’s unified naming of "HarmonyOS" made Huawei’s entire ecosystem have a higher degree of recognition, and the self-developed ecosystem extended more exclusive applications, services and products, which not only improved users’ stickiness, but also boosted shipments of other product lines.

Nowadays, the involution of mobile phone manufacturers seems to be concentrated in the operating system, and they all hope to build their own smart terminal "family bucket". The competition faced by Xiaomi is still not small.

In addition, from the perspective of ecological chain, Xiaomi has established a wealth of products and accumulated a huge user base, but in a short time, Xiaomi still can’t get rid of Android.

If you don’t rely on Android AOSP, most applications on Xiaomi devices need to be redone according to your own development requirements, which is unrealistic at present. Even HarmonyOS system has gone through many iterations to achieve independence.

Therefore, Xiaomi can’t pose a direct threat to iOS, Android, HarmonyOS and other ecosystems in the short term just by developing its own operating system.

Whether Xiaomi’s operating system can finally win in the market competition depends on the effect of core functions and experience, which will have to be announced by Lei Jun at the press conference on October 27th.

With the car landing in the Internet of Everything, a differentiated ecosystem in the future may become the core competitiveness of mobile phone manufacturers to strive for cooperation with car companies. butXiaomi’s car-making business, which has attracted much attention for a long time, has gradually become a key link in Xiaomi’s "people and cars" ecology.

In 2021, seeing that the growth of the entire mobile phone market is about to peak, Lei Jun decisively chose to cross the border to build a car. "Smart cars are the current outlet and an indispensable part of the smart ecology in the future. Together with personal mobile devices and home environment, they form a complete smart life scene."

On March 30 of that year, Xiaomi announced that it had officially entered the field of smart electric vehicles. The initial investment is 10 billion yuan, and it is estimated that the investment will be 10 billion dollars in the next 10 years. Lei Jun said, "This is the last major entrepreneurial project in my life. I am willing to put all my reputation in life and personally lead the team to fight for Xiaomi Automobile. "

Two years after it was put into production, it was recently reported that Beijing Yizhuang Xiaomi Automobile Factory had started construction this year, and mass production was imminent. On October 13th, Guo Ming Fufa, an analyst of Tianfeng International Securities, said that the first Xiaomi car is expected to be sold in 2024, with an estimated shipment of 50,000-60,000 units. The key selling points are autonomous driving, software ecology and 800V fast charging and power configuration, and the estimated price is less than 300,000 yuan.

In addition, according to market rumors, Xiaomi’s new car will adopt the 澎湃 OS system, and will be equipped with Qualcomm’s latest flagship chip and wireless charging technology; At the same time, it also supports 800V high-voltage fast charging, charging for 10 minutes and battery life of 300 kilometers.

In terms of autonomous driving, Lei Jun once said that Xiaomi Automobile will enter the first camp of the industry in 2024. Therefore, Xiaomi has formulated the strategy of full-stack self-research, and the automobile R&D team has expanded to 2,300 people in 2022, and has applied for 956 patents as of October 18.

From the perspective of supply chain,The mass production of Xiaomi automobile in 2024 may be just a good time, that is, just avoiding the bottleneck period of the industry, sitting on the sidelines when the major car companies are rolled up and flying, and entering the market when the industry completes the reshuffle.

However, with the popularization of new energy vehicles, the domestic competition market for new energy vehicles has become a red sea. BYD, Ideality and Huawei have occupied the dominant market position, and Tesla, which continues to reduce costs, has great momentum to fight the price war to the end, while Weimar and other automobile manufacturers, which were in the early days, have even ended up in bankruptcy.

Compared with Lei Jun’s announcement to build a car, the retail sales of new energy vehicles in China accounted for only 8.49%, and the market of new energy vehicles is growing and the competition is becoming increasingly fierce. According to the data of China Automobile Association, from January to September 2023, the production and sales of new energy vehicles were 6.313 million and 6.278 million respectively, up by 33.7% and 37.5% respectively, and the market share reached 29.8%.

In such a cruel and saturated market,The most likely way for Xiaomi to succeed is to rely on Xiaomi’s brand awareness and integrate the upstream and downstream of the industrial chain to reduce costs and dislocation competition as much as possible.

Since the official announcement of the car, Xiaomi has invested in the upstream and downstream of the industrial chain in the name of Xiaomi Zhizao Fund, Xiaomi Production and Investment Fund, Shunwei Capital and Xiaomi Private Equity Fund Management, and almost invested in the upstream and downstream of the new energy automobile industry chain.

Through investment, we can establish deeper links with enterprises in the upstream and downstream of the automobile supply chain, which is surprisingly consistent with Xiaomi’s logic of making mobile phones in the past.

Making good use of its own resources in supply chain integration, 6.5 billion loT equipment worldwide, 600 million monthly MIUI users, and tens of thousands of retail stores across the country may be the key to Xiaomi Automobile’s latecomers.

reference data

• Titanium media "MIUI or curtain call, Xiaomi tells the story again"
• Zinc Finance "Domestic mobile phones get together and develop their own systems, and it has become a trend to fight against Android"
• Radar finance "MIUI retired, 澎湃 OS" upper position ",Xiaomi should take the road of Huawei? 》
• Interesting business "Xiaomi makes a car: can the" price butcher "still wield a knife? 》

　　General Administration of Financial Supervision: The financial industry is duty-bound to strongly support real estate.

　　"The General Administration of Financial Supervision will comprehensively strengthen financial supervision, prevent and resolve financial risks, fully hold the bottom line of no systemic risks, and do a good job in the’ five big articles’ on technology and finance, green finance, inclusive finance, pension finance and digital finance, so as to provide strong financial support for high-quality economic and social development and the realization of Chinese modernization and the great rejuvenation of the Chinese nation." On January 25, Xiao Yuanqi, deputy director of the General Administration of Financial Supervision, said at the press conference on the theme of "High-quality economic and social development of financial services" of the State Council Office.

　　Also present at the above conference were Li Mingxiao, spokesperson of the General Administration of Financial Supervision and Director of Policy Research Department; Liu Zhiqing, spokesperson of the General Administration of Financial Supervision and Director of Statistics and Risk Monitoring Department; Guo Wuping, Director of inclusive finance Department of the General Administration of Financial Supervision and Yin Jiangao, Director of Property Insurance Supervision Department of the General Administration of Financial Supervision.

　　Liu Zhiqing said that in recent years, the credit structure of the banking industry in China has been continuously optimized, and financial support for the real economy has become more precise and powerful. Financial resources have been more used in key areas and weak links of the national economy such as scientific and technological innovation, advanced manufacturing, green development, universal benefits, infrastructure, etc. We will continue to guide and support banking institutions to increase credit supply, optimize credit structure, focus on "five major articles", focus on unblocking the channels for funds to enter the real economy, and improve the efficiency of capital use, so as to "live water" with finance.

　　Last year, the net profit of commercial banks increased by 3.24%.

　　Regarding the operation of the banking and insurance industry in 2023, Liu Zhiqing said that the total assets and major businesses of the banking and insurance industry grew steadily. By the end of 2023, the total assets of banking financial institutions were 417.3 trillion yuan, a year-on-year increase of 9.9%, and RMB loans increased by 22.75 trillion yuan, an increase of 1.31 trillion yuan. Total liabilities amounted to 383.1 trillion yuan, up 10.1% year-on-year, and RMB deposits increased by 25.74 trillion yuan, down 510.1 billion yuan year-on-year.

　　According to preliminary statistics, the net profit of commercial banks in 2023 was 2.38 trillion yuan, a year-on-year increase of 3.24%. In contrast, in the first three quarters of 2023, commercial banks achieved a net profit of 1.9 trillion yuan, a year-on-year increase of 1.6%.

　　The quality of banking assets remained stable. According to preliminary statistics, by the end of 2023, the balance of non-performing loans of banking financial institutions was 3.95 trillion yuan, an increase of 149.5 billion yuan from the beginning of the year. The NPL ratio was 1.62% (1.65% at the end of the third quarter of 2023). The ratio of loans overdue for more than 90 days to non-performing loans in commercial banks is 84.2%, which remains at a low level. 3 trillion yuan of non-performing assets were disposed of in the whole year (since 2017, the cumulative disposal of non-performing assets of banks reached 18 trillion yuan), and the disposal efforts were maintained.

　　The banking industry has sufficient risk compensation capacity. By the end of 2023, the balance of loan loss reserves of commercial banks had increased by 476.8 billion yuan, and the provision coverage ratio was 205.1%, which remained at a high level. The capital adequacy ratio is 15.1%, and the core tier 1 capital adequacy ratio is 10.5%. Among them, the capital adequacy ratio of large banks is 17.6%, and the core tier 1 capital adequacy ratio is 11.7%.

　　"In 2024, the banking industry is expected to maintain a steady development momentum, with more reasonable institutional and functional layout and further optimization of financial resource allocation. In the past three years, the average growth rate of total assets of the insurance industry reached 8.7%, maintaining a good development trend. The insurance industry has great potential for future development, and its ability to serve the overall social and economic situation will continue to increase, and the functions of economic shock absorbers and social stabilizers will be more effectively exerted. " Liu Zhiqing said.

　　A series of real estate policies have shown results.

　　At the press conference, the General Administration of Financial Supervision also introduced the real estate market and small and medium-sized financial institutions that are highly concerned by the market.

　　Xiao Yuanqi said that the real estate industry has a long chain and a wide range, which has an important impact on the national economy and is closely related to the lives of the broad masses of the people. The financial industry is duty-bound and must be strongly supported. It is also disclosed that in 2023, banking institutions issued 3 trillion yuan of development loans and 6.4 trillion yuan of housing mortgage loans respectively, which add up to nearly 10 trillion yuan. Up to now, the balances of development loans and personal housing loans are 12.3 trillion yuan and 38.3 trillion yuan respectively; By the end of 2023, the balance of bonds purchased by banks from real estate enterprises was 427.5 billion yuan; Providing M&A loans and stock extension loans to real estate enterprises add up to more than 1 trillion yuan.

　　Xiao Yuanqi said that recently, the General Administration of Financial Supervision, together with relevant departments, has issued a series of measures to support the real estate market. "These policies and measures have played and are playing an active role in doing a good job in real estate financial services, stabilizing the reasonable financing demand of the real estate market and promoting the stable and healthy development of real estate."

　　"In the near future, we will also focus on the following major tasks: First, we will accelerate the implementation of the coordination mechanism for urban real estate financing, and will hold relevant work deployment meetings, requiring banks to act as soon as possible and make good use of the policy toolbox because of the city’s policy; The second is to guide financial institutions to implement the management requirements of operating property loans; Third, continue to do a good job in personal housing loan financial services, support local city governments and housing construction departments, and further optimize personal housing loan policies such as down payment ratio and loan interest rate due to city policies; The fourth is to guide and require banks and other financial institutions to vigorously support the construction of’ three major projects’ such as the transformation of urban villages, and to form physical workload as soon as possible. " Xiao Yuanqi said.

　　Regarding the risk situation of small and medium-sized financial institutions, Xiao Yuanqi said that from a nationwide perspective, the current small and medium-sized banks are operating steadily, their asset quality is stable, and their capital strength is significantly enhanced. The capital adequacy ratio, provision coverage ratio and asset quality of small and medium-sized banks are generally at a relatively good level, and these operating and regulatory indicators are at a reasonable and healthy level.

　　Xiao Yuanqi said that the General Administration of Financial Supervision will work closely with local party committees, governments and relevant departments to do a good job in the reform and risk prevention and control of small and medium-sized banks, and constantly improve their management level: first, strengthen corporate governance; second, select top executives and key personnel; third, deepen reform through classified policies; fourth, urge small and medium-sized banks to focus on their main business; fifth, adhere to goal-oriented and problem-oriented, strive for progress while addressing both the symptoms and root causes, and comprehensively strengthen supervision and prevention.

　　Do a good job of "five big articles"

　　The Central Financial Work Conference pointed out that high-quality development is the primary task of building a socialist modern country in an all-round way, and finance should provide high-quality services for economic and social development, and it is required to do "five major articles" well. At the press conference, the General Administration of Financial Supervision made a detailed introduction on the "five big articles" and the next step plan.

　　In technology and finance, Li Mingxiao disclosed that by the end of 2023, the loan balance of high-tech enterprises nationwide had increased by 20.2% year-on-year, of which medium and long-term loans and credit loans accounted for more than 40%. By the end of 2023, the loan balance of manufacturing industry increased by 17.1% year-on-year, of which the medium and long-term loan balance of manufacturing industry increased by 29.1% year-on-year.

　　"Promote the improvement of the multi-level service system in technology and finance. Under the premise of risk control, we will steadily promote the construction of the pilot zone for science and technology innovation and financial reform with relevant departments, deepen the financial support measures for manufacturing, guide financial institutions to implement various policy requirements, and continuously enrich financial products and services. Continue to increase support for scientific and technological innovation and advanced manufacturing, help the development of new quality productive forces, and strive to provide strong financial support for accelerating the construction of a modern industrial system." For the next work plan, Li Mingxiao said.

　　In terms of green finance, Li Mingxiao disclosed that by the end of 2023, the green credit balance of 21 major banks had reached 27.2 trillion yuan, a year-on-year increase of 31.7%. In inclusive finance, Guo Wuping said that by the end of 2023, the balance of inclusive finance loans in the banking industry was 29.06 trillion yuan, a year-on-year increase of 23.27%, which was 13.13 percentage points higher than the average growth rate of various loans; The average interest rate of new loans for inclusive small and micro enterprises was 4.78%, down 0.47 percentage points year-on-year. "This year, we will implement the requirements of inclusive finance’s big article, integrate loans from small and micro enterprises, agriculture-related entities and private enterprises, form a unified regulatory caliber for inclusive credit, and carry out assessment and data disclosure." Guo Wuping said.

　　In terms of pension finance, Yin Jiangyao said that the General Administration of Financial Supervision will promote insurance institutions to give full play to the advantages of insurance protection and vigorously develop commercial insurance annuities. In terms of digital finance, Liu Zhiqing said that the General Administration of Financial Supervision will continue to promote the digital transformation of the banking and insurance industry, enhance the effectiveness of digital empowerment, enhance the industry’s risk prevention and control capabilities, strengthen network security and data security risk supervision, and standardize digital innovation.

　　(Author: Li Yuan)