Lexus RX new energy price reduction information in Shanghai! 80,000 discount, no if you miss it

Welcome to the Autohome Shanghai promotion channel, bringing you the latest car market trends. At present, the much-watched car purchase promotion is launching an unmissable car purchase promotion in Shanghai. This luxury new energy SUV is attracting consumers with an attractive discount of up to 80,000 yuan, and the minimum selling price has been reduced to 469,000 yuan. To seize this rare car purchase opportunity, you may wish to click "Chatti Car Price" in the quotation form below to get a more competitive car purchase discount. This is not only a good time to buy a car, but also a great choice to experience the charm of Lexus New Energy.

上海地区雷克萨斯RX新能源降价信息!优惠8万,错过就没有

The exterior design of the Lexus RX New Energy continues Lexus’ usual luxury and sophistication. The front face features a family-style spindle grille, and the delicate chrome trim is combined with matrix LED headlights to create a unique sense of identity and technology. The overall body line is smooth, blending power and elegance, showing Lexus’s persistent pursuit of detail and aesthetics. Whether it is on the city street or in the natural scenery, it can become the focus of attention.

上海地区雷克萨斯RX新能源降价信息!优惠8万,错过就没有

Lexus RX New Energy shows its elegance and power with its exquisite side design. The body size is 4890mm x 1920mm x 1695mm, and the wheelbase reaches 2850mm, giving it a spacious interior space and excellent driving stability. In terms of tire specifications, the front and rear wheels are equipped with tires with specifications of 235/50 R21, which not only guarantees driving performance, but also presents its unique visual effect. The careful matching of tires and rims further enhances the vehicle’s sense of movement and luxury.

上海地区雷克萨斯RX新能源降价信息!优惠8万,错过就没有

The interior design of the Lexus RX New Energy fully reflects the fusion of luxury and technology. The exquisite leather steering wheel adopts an ergonomic design, which not only provides a comfortable grip, but also supports electric up and down + front and rear adjustment to ensure that the driver can find the best driving position in different driving scenarios. The 14-inch central control screen stands in the center of the cockpit, is clear and easy to operate, integrates multimedia systems, navigation and phone functions, and supports automatic speech recognition, which makes it convenient for users to control many functions of the vehicle through voice.

In terms of seats, the seats of Lexus RX New Energy are made of top leather to provide good ride comfort. The main and passenger seats are equipped with multi-directional adjustment functions such as front and rear adjustment, backrest adjustment, high and low adjustment and waist support, as well as heating and ventilation functions to ensure the best ride experience in different seasons. The driver and passenger seats are also equipped with electric seat memory function, which is convenient for different drivers to quickly adjust to personal habits. The rear seats support backrest adjustment and have a proportional reclining function to provide flexible space layout for passengers and luggage.

上海地区雷克萨斯RX新能源降价信息!优惠8万,错过就没有

Lexus RX New Energy is equipped with a 2.5L four-cylinder engine with a maximum power of 136 kilowatts, providing a stable and efficient power performance for the vehicle. The maximum torque of this engine is 228 Nm, and with the E-CVT continuously variable transmission, it ensures the ride and fuel economy of the vehicle during driving.

Summarizing the experience of the car owner, he particularly praised the pure electric acceleration performance of the Lexus RX new energy, believing that its power response is fast, giving the driver a pleasant handling experience. At the same time, he also agreed with the stylish atmosphere of the exterior design, which undoubtedly satisfied his pursuit of vehicle aesthetics. In addition, he also placed special emphasis on the sound insulation effect of the vehicle, creating a quiet interior environment for the driver and ensuring the comfort of the ride. Therefore, for those consumers seeking high performance and comfort, the Lexus RX new energy is undoubtedly a high-quality choice worth considering.

Jolin Tsai: Wish to marry a great husband within ten years (Photos)

Feature: Picture Channel






Jolin Tsai, file photo


  With exquisite curly hair, a brown skirt, and golden high heels, Jolin Tsai’s appearance is the same as her music, paying attention to visual stimulation. Although she didn’t say much, when interviewed by this reporter, Jolin Tsai not only faced the media’s questions about her music route, but also did not shy away from emotional issues. It was only by chance that she learned that the concert coincided with the Journalists’ Day in the mainland that she suddenly raised her voice nervously: "Then will you not come to my concert on vacation?" The reporter repeatedly said that she would go to the scene to see her perform, and she smiled. As she said, she cares most about the reaction of fans and her own performance, and what she said is true.


  The first decade: challenging yourself with "talent"


  In the blink of an eye, the "boy killer" of the year has been out for ten years. Jolin Tsai’s changeable image and gorgeous dance in MVs such as "Look at Me 72 Changes" and "Dancer" in recent years far exceed the pure impression of the original "I Know You’re Sad". Looking back ten years later, Jolin Tsai said that he "has become more and more bold in his performances, but there is only one determination to change, that is, to make himself better every year."


  At the "Unique Dance" concert, Jolin Tsai offered more magic weapons: ribbon dance, ring performance, and pole dance. The difficulty and danger of the movements exceeded that of ordinary artists, and the degree of struggle made many fans stunned. As a singer, when giving people a visual impression exceeds music, is it lucky or unfortunate? Jolin Tsai doesn’t seem to care. She believes that every singer has his own characteristics, and his strength is dance music. "Maybe many people will remember my style and dance, and ignore my musical improvement, but they think I have characteristics and will expect me, and I will stick to it."


  "I like the feeling of challenging myself and making myself stronger after setbacks. This industry requires you to learn things quickly. If you only have talent and no new knowledge and skills, your aura will soon be gone. So I’m not a genius but a’talent ‘. I try my best to discover myself and achieve something."


  The second decade: I hope to have a great husband


  Once upon a time, Jolin Tsai and Chairperson Zhou’s "double J love" was a sensation, and recently, there was news that she was blocked in nightclubs due to her relationship with Peng Yuyan. Speaking of feelings, Jolin Tsai couldn’t help but look up at the ceiling, "When you are in a relationship, you only hope that the two of you are happy together, but when you reach another stage of love, you hope to have a more stable state. I hope that in the next ten years, I can meet the right person, have a great husband and children, and love them well."


  In the past, Jolin Tsai had expected to get married at the age of 30, but now this time has been moved back. The boyfriend standard she offered was humor, knowing how to take care of girls, and "the most important thing is not to be too fussy." This last sentence emphasizes that it reminds people of Jay Chou who is empathetic. People say that the love is too deep, which is probably the case. You can not mention that person’s name, but it will definitely leave traces of that person.


  Rumor has it that Peng Yuyan gave up his relationship because of the resistance of his family and company, so will Jolin Tsai’s relationship take into account the opinions of others? Jolin Tsai generously said that the relationship in the entertainment industry will be affected to some extent, but it is the most important thing for two people to be happy, and he will respect each other’s ideas. "After all, I am a person who lives in front of the screen, and if the other party can withstand these pressures, he will be the most perfect object." Jolin Tsai confidently said that now he also sees these pressures, "If the two understand each other, they don’t need to care about other people’s thoughts."



























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The movie channel will broadcast Zhou Xingchi’s classic works for five consecutive days from November 20


1905 movie network feature His movie is worth revisiting.In his nearly 60 films, we are always laughed out loud by his "nonsense" at the beginning, but the ending makes us cry silently and fall into contemplation.


Every action, every line of dialogue, always allows us to see the microcosm of real life playfully.This week, the movie channel will be launchedStephen ChowMovie special, one a day for everyoneZhou XingChi’s comedy classic!


Before 1988, the young and energetic teenager Stephen Chow had been making circles in TV dramas and moviesThe Wind Catcher.Let him step into the big screen for the first time.In this movie, although Stephen Chow is a walk-on character, his acting skills are stunning enough for only five scenes.



Because of his outstanding performance in "Wind Catcher", a noble person – Li ******* quietly appeared.After being appreciated by Li *******, Stephen Chow won the movie"Pioneer Thunderbolt."Playing a slutty role inJianghuThe opportunity for a younger brother role.


There is no doubt that the role of car thief Wei Zai is also a small supporting role, but Chow Xingchi still plays very vigorously as always.


As a result, the second film played by Stephen Chow was nominated for the Best Supporting Actor Award at the 8th Hong Kong Film Awards, and began to shine in the Hong Kong film industry.But these early films did not fully reflect his unique personal style.


The appearance of the movie "A Comic to the End of the World" has given us a different look at Stephen Chow.The film not only removed Stephen Chow from his earlier role as a gangster, but also took his acting career to a new level.


A Xing, this simple and passionate character, allows us to see a brand-new Zhou Xingchi, whose nonsensical style begins to show in this movie.



Since then, Stephen Chow has been exploring on the "Nonsense" movie.In 1990, Stephen Chow’s brilliant career began, and he truly became the protagonist of a movie.


In the year when the gambling theme was all the rage, "Gambling Saint" inadvertently became the first Hong Kong movie to exceed 40 million Hong Kong dollars at the box office, and won the top ten best-selling films in Hong Kong in 1990, propelling Stephen Chow to the position of a superstar in one fell swoop.



In the same year, "Gambler" continued to write the legend of "Gambler", and the Hong Kong film industry has since added a "star".



In Stephen Chow’s "Nonsensical Head" films, the most prominent thing is the portrayal of small characters.Many of the characters he plays have the growth trajectories of being smashed to pieces and unable to form a human form, but they can be reborn in nirvana.


In the sad comedy movie "Wuzhuangyuan Su Qier" that Zhou Xingchi first starred in, which aired on November 23, the protagonist Su Can (Zhou Xingchi, played) was framed by villains when he was about to take the Wuzhuangyuan exam, and his meridians were interrupted, causing him to become a beggar.



Having enjoyed the monstrous wealth and tried the pains of the floating world, under such a life situation of ups and downs, Su Can did not give up and blame others, but accepted the challenge of fate calmly.


In the movie "Jiupin Sesame Official" broadcast on the 22nd, Bao Longxing, the small Jiupin county official played by Zhou Xingchi, is willing to do anything in order to be a clean official.


After being involved in the case of the Qi family, after several hesitations, Bao Longxing finally made a different choice from his father: adhere to integrity. Even if he was embarrassed and could not escape the execution, he did not give up his lifelong obsession with upholding justice.



In these movies, in addition to the hilarious nonsensical plot, there is more of a tragic color. Although these characters are in a mixed and muddy situation, they never stop struggling in life.


In 1994, Zhou Xingchi established Color Star Film Company. After having his own company, Zhou Xingchi began to try to transform and break through himself.


"There was a true love in front of me, but I didn’t cherish it. I don’t regret it until I lose it. The most painful thing in the world is this. If God could give me a chance to do it again, I would say three words to you – I love you. If I have to put a deadline on this love, I hope it is 10,000 years!"



This classic has touched the hearts of many people who are unable to love, those who never forget the white moonlight, those who forget each other in the rivers and lakes, those who have not cherished and treated well, and those who love and hate intertwined green years.



However, when the movie series "Journey to the West" was released, although it won many awards, the box office was dismal, until the popularity of "Journey to the West" in major universities and forums gradually reversed its reputation.


In the movies "Journey to the West: Moonlight Treasure Box" and "Journey to the West: Marrying the Great Sage" that aired on November 20 and 21, whether it is Sun Wukong, the stunning Zixia Fairy of Chow Xingchi who shuttles for love, Zhu Yin, or Wu Mengda’s unconventional Pigsy, Cai Shaofen’s majestic Iron Fan Princess, Mo Wenwei’s infatuated and single-minded Bai Jingjing…



Looking at the film again, these screen images can still evoke indelible memories in our hearts."Back then, I punched and kicked Nanshan Nursing HomeNorth SeaIn the kindergarten, everything under one meter fell down. I stomped my feet in the morgue and all stood up in disapproval. No one dared to breathe. "


Compared to other films, the movie "Kung Fu" is not as funny or tear-jerking, but this movie seems to be back to square one, fusing all the unfulfilled heroic dreams of the first half of his life.


Until today, I believe that many people will still think of "Kung Fu" when they see the colorful round wave board candy.



The movie "Yangtze River No. 7" is full of the figure of Stephen Chow’s childhood.In "Yangtze River No. 7," which aired on Movie Channel this Friday, Stephen Chow played the role of his father for the first time, which he had never played before.



"Although we are poor, we will neither steal nor rob. We will not take things that do not belong to us."



"Yangtze River No. 7" incorporates Zhou Xingchi’s own true childhood experiences and makes up for the lack of fatherly love.Although the movie is less funny, the inspirational light projected and the idealism he implied in the film are still moving.


Life is like a play, and play is like life.In Stephen Chow’s movies, we can always see hope in our sadness and give us comfort in life.



This week, the movie channel will bring you 5 classic works of Stephen Chow one day, and you will definitely be satisfied if you brush it again.


Takeaway bearish, preferred layoffs, stock price flash crash, Meituan is not beautiful?

Source: No. 1 Finance, Author: Chongshan

No. 1 said: The stock price has collapsed, can it still be eaten?

The restaurant laughed and Meituan cried. The reason is that Meituan-W (03690.HK) was "precision hit".

This is to start with the notice issued by the National Development and Reform Commission on February 18 "Several Policies for Promoting the Recovery and Development of Difficult Industries in the Service Sector". The document pointed out that the guidance of Internet platform companies such as takeout to further reduce the service fee standards of catering merchants means that the commission fees of "takeaway Internet companies" will further decline.

The largest representative of "takeaway Internet companies" is Meituan. According to the data of Prospective Research Institute, Meituan accounted for 67.3% of the total takeaway market in Q1 2021, which is 2.5 times that of the second Ele.me. According to Meituan’s Q3 2021 financial report, the revenue of takeaway business accounted for 54.24% of the total revenue, while the commission fee was 69% of the takeaway revenue.

On February 18, Meituan’s share price plunged, plunging 14.86% that day, and the market value evaporated 200 billion.

This is not the first time Meituan has been subject to policy supervision. On October 8, 2021, Meituan was fined 3.442 billion yuan by the State Administration of Municipal Supervision for implementing "two choices" measures for catering merchants over the past few years.

After the fine, the market fell to Meituan’s hanging heart, and all shouted that it was empty. Meituan’s share price has risen for two consecutive trading days since then, and hit a new high since July 26. Meituan’s 2021 Q3 financial report performance further stabilized the market’s heart, and its takeaway business revenue increased by 28% year-on-year to 26.50 billion yuan.

According to the 2021 Hurun China 500, Meituan ranks third among the top three domestic internet companies by market capitalization as the "biggest winner of the past year", while Alibaba and Tencent have plummeted in "value", fallen in the rankings, and were placed in the top two of the "biggest losers of the past year".

Meituan faces a dilemma

Meituan might have been stable without the "super bearish" on February 18. But Meituan’s long-standing "dilemma" has planted the seeds of its bearish situation.

One "difficult" situation is the thin profit margin of Meituan takeaway. In Q3 2021, the profit per order was only 0.2 yuan, and in the same period in 2020, it was 0.24 yuan.

In order to increase the profit of takeout, Meituan has continuously increased the commission rate (the proportion of commission that Meituan draws per takeout order) over the years. According to Meituan’s annual financial reports, its average commission rate for takeout has increased from 1.1% in 2015 to 12% in 2020.

Increasing the commission rate will naturally lead to conflicts with catering merchants. Meituan has always occupied about 60% of the takeaway market, and merchants have no other choice. They have to swallow it and keep reducing costs.

The epidemic in 2020 has exacerbated this contradiction. Under the epidemic, the catering industry has been hit hard and has to rely on takeout. Meituan’s high commission rate has been pointed out by the "Guangdong Catering Industry to Meituan Takeaway Joint Negotiation Letter" that "greatly exceeds the critical point that the majority of catering merchants endure". Catering associations in Sichuan, Chongqing, Shandong, Yunnan and other places have also publicly "shouted" Meituan and other platforms in the past two years to reduce the commission rate.

This puts Meituan in another "difficult" situation, that is, the pressure from the catering industry to reduce commissions.

Meituan has also expressed its position to adjust the commission system, but the profit margin of Meituan’s takeaway business is thin, so the adjustment cannot fully meet the demands of the catering industry.

For example, in May 2021, Meituan launched a rate transparency pilot, splitting the original platform service fee into two parts: technical service fee and fulfillment service fee, and "refining" the commission. But the new model did not reduce the commission rate of Meituan takeaway. In Q3 2021, the commission rate was still 11.78%, which was not much different from the average commission rate of 12% in 2020.

Epidemic has been on and off for 3 years. According to the Prospective Research Institute, 1 million catering companies closed down last year, and the hotel catering industry ranked first in the top ten shrinking industries. At this time, the National Development and Reform Commission, as a regulatory department, took action and asked the takeaway platform to reduce the commission rate. Although it hit Meituan accurately, it was also very reasonable.

(Source: Prospective Research Institute)

Which business can support Meituan?

With supervision, Meituan must really reduce the commission rate in the future. This will lead to a thinner takeaway business, and Meituan must find a new solution, that is, Meituan must have another business on top, replacing the takeaway business as Meituan’s new revenue pillar.

In this regard, Meituan’s idea has always been to use the drainage effect of takeaway business to develop new business. In terms of traffic, according to Meituan’s Q3 earnings report in 2021, as of Q3, the number of annual active users reached 668 million.

Meituan’s new businesses include Meituan Preferred, Fast Donkey, Meituan Flash Sale, Meituan Market, Meituan Preferred, etc. According to Meituan’s financial report, these new businesses have been developing slowly.

Specifically, fast donkey and Meituan flash sale has not yet developed, according to late Latepost, as early as August 2021, fast donkey, flash sale business has begun to shrink, Meituan began to focus on fresh food e-commerce business Meituan market and community group buying business Meituan preferred.

Meituan market currently uses the front warehouse model, but according to iiMedia consulting data, as of September 2021, its MAU users are only 2.58 million, less than 1/13 of the front warehouse model of Dingdong Maicai 34.71 million, and there is no influence in the market.

Meituan Preferred has become a new hope for Meituan’s new business. According to the statistics of the Financial Union, Meituan Preferred and Duoduo Shopping are located in the first echelon of the domestic community group buying platform industry, with a market share of about 30%. However, this is obtained by constantly burning money.

According to Meituan’s Q3 financial report in 2021, Meituan’s new business loss, which is mainly based on Meituan’s preference, reached 10.906 billion yuan, which is the highest single-quarter loss since Meituan entered the community group buying, an increase of 437.5% year-on-year; Moreover, in one year, Meituan has lost 36 billion yuan in this regard.

Not only is it losing money, but Meituan’s new business has always accounted for a small proportion of revenue. According to Meituan’s financial report, from Q3 2019 to Q3 2021, Meituan’s new business revenue accounted for only 7.24 percentage points in two years, reaching only 28.1%, unable to support the main beam alone. Meituan’s takeaway business has always accounted for more than 50% of revenue.

In fact, compared with the regulatory pressure on Meituan’s takeaway business, Meituan is under greater pressure.

Since 2020, Meituan and other large factories have participated in the "burning money" war of community group buying, and have been targeted by supervision. They have been criticized for "thinking about a few bundles of cabbage" and grabbing business with small merchants and hawkers. On December 22, 2020, the General Administration of Market Supervision put forward "nine no’s" for community group buying, mainly focusing on low-price dumping, big data killing, and commodity quality control.

On March 3, 2021, the General Administration of Market Supervision imposed administrative penalties on four community group buying enterprises, including Meituan Preferred. Two months later, on May 27, it separately fined Shihui Group 1.50 million yuan for low-price dumping and ordered it to suspend business for rectification. Since then, it has been reported that Shihui Group has laid off employees. According to a report in January by the Daily Economic News, Shihui Group is gradually shutting down grid warehouses and self-pickup stations across the country, or preparing to apply for bankruptcy liquidation.

Like the Ten Hui Group, on November 11, 2021, the official website of the Municipal Administration of Supervision also announced a separate punishment for Meituan Preferred, involving improper price behavior. On February 17, there was also news of Meituan Preferred’s layoffs.

Business model may be flawed

Meituan has long been known as the "king of losses" due to thin profits in the takeaway business.

In 2018, Meituan lost 115.50 billion, which caused a sensation in the catering industry at that time. In 2019, Meituan made a short-term profit, but not from the profits brought by takeout, but from investment income. In 2020, Meituan made a real profit, with a net profit of 4.71 billion yuan for the whole year, and the stock price reached a record high of 460 Hong Kong dollars in February 2021.

In 2021, Meituan began to lose money again in Q1. In the first three quarters of 2021, Meituan has accumulated losses of 18.197 billion yuan, an increase of 361.8% year-on-year, and once again became the "loss king".

In the current secondary market, the investment logic for listed Internet companies has changed. Previously, as long as the market size of Internet companies grew, even if they lost money, they were still recognized by the market. Today, the market also requires Internet companies to be profitable.

After the huge loss of community group buying business Meituan Preferred, Meituan has no new story. Recently, the story told to capital markets is only a strategic cooperation with Kuaishou. Kuaishou users can place orders through the Meituan Mini Program, which is still to expand Meituan’s takeaway business. At present, after the notice of the National Development and Reform Commission was issued, Kuaishou’s share price also fell by 4.86%.

From this perspective, Meituan’s share price is likely to decline in the future.

Meituan’s business model is actually flawed.

Looking at Meituan’s various businesses, whether it is takeaway, Meituan Preferred, Meituan Market, flash sale and other new businesses, although the service scenarios are different, they are all inseparable from Meituan delivery. Meituan delivery belongs to instant delivery in the same city.

Intra-city instant delivery, which provides logistics distribution between location A and location B within a city, is about maximizing efficiency. The market is huge, with a compound annual growth rate of 30.5% from 2020 to 2025, according to iResearch. However, companies in this industry are all losing money because instant delivery relies heavily on manpower, and labor costs continue to rise. SF Intra-city, an instant delivery company listed in 2021, will account for 96.6% of operating costs in 2020.

Meituan delivery is more efficient, but the labor cost is still high. According to Meituan’s public information, in 2020, riders’ expenses accounted for 83.1% of Meituan’s takeaway commission, compared with more than 90% before. For instant delivery companies such as Meituan, to some extent, they are working for riders.

Meituan has also tried every means to reduce the expenditure of riders. In May 2021, Wang Lin, deputy director of the Beijing Municipal Bureau of Human Resources and Social Security, bluntly stated that in order to reduce costs, the registered riders on the Meituan platform are not Meituan employees, but outsourced. This was later reported that Meituan riders were required to register as self-employed to avoid paying social security.

However, on July 26, 2021, seven departments including the General Administration of Market Supervision have clearly requested to protect the legitimate rights and interests of takeaway food delivery staff. Undoubtedly, Meituan’s rider spending will further increase.

To solve the flaw in Meituan’s business model, we can only rely on unmanned delivery.

As early as 2016, Meituan began to develop unmanned delivery technology. According to the research report of China International Capital Corporation, it is expected that by 2023, Meituan’s unmanned delivery cost will be controlled at about 2.9 yuan per order, while according to Meituan’s public information, in 2020, the rider delivery cost will be about 7.2 yuan per order.

(Meituan unmanned distribution development process, source: CICC)

At present, Meituan is increasing its research on unmanned delivery. In Q3 2021, Meituan’s R & D investment increased by about 60% to 4.70 billion yuan year-on-year. However, unmanned delivery faces not only technical problems, but also regulatory risks, such as the slow process of opening up the right of way in policy and the state’s supervision of data security.

All in all, Meituan takeaway is bearish, Meituan prefers huge losses and layoffs, Meituan’s share price has collapsed, and in the future, Wang Xing can still "eat"?

Geely Auto was accused of plagiarism behind the "great pressure"

"Investor Network" Ge Fanmei

On March 9, Geely Automobile (0175.HK) announced that the company has submitted an application to the Stock Exchange for the addition of RMB counters, in order to support the new Hong Kong dollar-RMB dual-counter model plan launched by the Stock Exchange. This means that Geely Automobile is expected to become the first batch of Hong Kong-listed companies to join the dual-counter model.

The announcement said Geely believed the dual-counter arrangement could provide investors with new trading currency options and potentially more liquidity. The HKD-RMB dual-counter model also allows bookmakers to provide liquidity to their RMB counters and narrow the price differential between their HKD and RMB counters.

In the capital markets, Geely Automobile’s "RMB Hong Kong stock" is about to be realized. In terms of business, the company has made a bad start this year. In late February, the company launched a new energy sub-brand "Geely Galaxy", and soon fell into the "plagiarism door".

For Geely Automobile, an old car company with a 25-year history of car manufacturing, in addition to the plagiarism scandal, its continued decline in performance and loneliness in the new energy field may be more embarrassing. Now, Geely Automobile has high hopes for "Geely Galaxy", can it help it achieve corner overtaking in the field of new energy vehicles?

Trapped in the "plagiarism door"

On February 23, Geely Automobile launched a new mid-to-high-end new energy series – "Geely Galaxy", and released the prototype of Geely Galaxy "Galaxy Light".

According to reports, the "Geely Galaxy" series will launch seven new models within two years, of which the Galaxy intelligent electric hybrid L series will launch four products, the first electric hybrid SUV Galaxy L7 and the first electric hybrid car Galaxy L6 will be delivered in the second and third quarters of this year respectively; Galaxy intelligent pure electric E series will launch three products, of which the first pure electric product E8 will be delivered in the fourth quarter of this year.

However, less than a week later, "Geely Galaxy" ushered in plagiarism doubts. On February 28, a lawyer’s letter sent by Chongqing Baijun Law Firm, the law firm entrusted by Changan Automobile, pointed out that the prototype of Geely Galaxy’s "Galaxy Light" has a lot of similarities with Changan Automobile’s concept car and mass-produced models. It is suspected that a large number of copies of the appearance of Changan Automobile’s released models have seriously infringed the relevant intellectual property rights of Changan Automobile.

According to the comparison chart circulated on the Internet, the outside world pointed out that the original model of Geely Galaxy and Changan Automobile Deep Blue SL03, UNI-V and other models have similarities in the front face, headlights and tail shape. According to the data, the Deep Blue SL03 was launched in July 2022, priced between 17-200,000 yuan, providing pure electric version, extended range version and hydrogen electric version. As of the end of February this year, the cumulative delivery volume reached 37,328 vehicles.

(Image source: Sina Weibo)

In response to the plagiarism rumors, Geely Automobile directly denounced the above-mentioned lawyer’s letter as "seriously untrue and groundless, misleading the public, and causing serious damage to our brand and goodwill." According to a statement released by Geely Automobile on February 28, Geely Galaxy Light is an original design of Geely, and there is no plagiarism and infringement of others’ intellectual property rights.

(Image source: Geely Automobile official Weibo)

It is worth mentioning that Chen Zheng, vice president of design of Geely Automobile Group, joined Geely in March 2022 after working for Changan Automobile for 20 years and served as the global design director of Changan Automobile Group.

However, Geely Automobile has already applied for the Galaxy series trademark. Qichacha shows that Geely Automobile applied for the registration of the "Galaxy Light" trademark on March 2, which is internationally classified as a means of transportation, and the current trademark status is "under registration application". Previously, Geely has also applied for "Geely Galaxy", "Jizhi Galaxy", "Haoqing Galaxy" and other Galaxy series trademarks.

(Source: Qichacha)

New energy vehicle "underachiever"?

Lin Jie, vice president of Geely Automobile Group, once said that the sales goal of each product of the Galaxy series is to become the top three in the market segment, and the joint geometry brand will cover 65% of the future new energy vehicle market.

In fact, Geely Automobile has already made big claims about its new energy layout, but the reality is not as good as it wants. As early as November 2015, Geely Automobile announced the implementation of a five-year development strategy called "Blue Geely Action", with the goal of "reaching 90% of new energy vehicle sales by 2020."

However, by 2020, Geely Automobile’s annual sales of new energy vehicles 68,000, down 39.7% year-on-year, accounting for only 5.2%. In 2021, Geely Automobile’s new energy vehicles were delivered 61,000, down 10% year-on-year, and still failed to achieve the new energy sales target. Geely Automobile, which is brave in the fuel vehicle market competition, has frequently lost in the new energy battlefield.

In fact, from the perspective of peer companies, it is not difficult to find that Geely Automobile’s layout in new energy vehicles is relatively late. When NIO, Li Auto, and XPeng Motors were launched in the United States in September 2018, July 2020, and August 2020 after four, five, and six years of establishment respectively, Geely Automobile really began to make big moves in the field of new energy vehicles.

Geely Automobile established Geometry Automobile in April 2019, positioning it as a new brand of mid-to-high-end pure electric vehicles, but the development of Geometry Automobile was not smooth in the first two years. Data show that in 2019 and 2020, the annual sales of Geometry Automobile remained at about 10,000 vehicles. In order to occupy a place in the field of new energy vehicles, Geely Automobile and its parent company established the new energy brand of Extreme Krypton Automobile in March 2021.

Entering 2022, the new energy vehicles under Geely Automobile began to exert force. According to Geely Automobile data, the cumulative sales of pure electric vehicles under Geely Automobile in 2022 were 262,000, an increase of 328% year-on-year, and 66,000 plug-in hybrid vehicles, an increase of 219% year-on-year. Although it is far higher than the industry’s 90% year-on-year growth rate, it is still unable to compare with the giants Tesla and BYD in scale. In 2022, BYD’s cumulative sales were 1.8635 million, an increase of 208.64% year-on-year. Among them, the sales of pure electric vehicles exceeded 910,000; while Tesla’s annual sales were 1.31 million, and about 440,000 in China.

As a traditional automaker with independent core technologies, Geely Automobile has followed in the footsteps of BYD’s transformation from traditional automakers to new energy vehicles.

Data show that BYD’s annual sales in 2018 were 520,000, only one-third of Geely Automobile’s total sales, but BYD’s new energy vehicle sales accounted for 47.5% at this time. Since March 2022, BYD has stopped the production of fuel vehicles, becoming the first car company in the world to officially announce the suspension of fuel vehicles. Until February this year, Geely Automobile’s new energy vehicles accounted for 21.4%, and fuel vehicles are still the company’s main sales force.

In January 2023, BYD sold 151,341 units, an increase of 62.44% year-on-year. During the same period, while BYD’s sales were growing, Geely Automobile’s sales fell sharply, achieving sales of 103,452 units, a decrease of about 29% year-on-year. Regarding the decline in sales, Geely Automobile explained that it was "mainly affected by the early Spring Festival holiday."

The performance is "under great pressure"

In 2022, Geely Automobile’s total sales volume was 1.43 million, an increase of about 8% year-on-year. Among them, the cumulative sales volume of new energy throughout the year was 328,727, and new energy accounted for about 23%.

In fact, compared with Geely Automobile’s previous sales target of 1.53 million vehicles in 2022, the company has not met the target. This is already the fifth consecutive year that Geely Automobile has not met the sales target. However, for 2023, Geely Automobile sets the sales target at 1.65 million vehicles, of which the sales target of new energy vehicles is more than 100% higher than the total sales achieved in 2022.

The continuous improvement of sales targets may be to ensure the full implementation of the "Smart Geely 2025" strategy. The strategy was proposed by Geely Automobile in 2021 and announced that the total sales target of 2025 cars is 3.65 million, of which 650,000 are Krypton cars and 3 million are Geely cars.

Extreme Krypton, a well-known new energy vehicle brand under Geely Automobile, sold only 71,900 vehicles in 2022. Since its establishment in March 2021, Extreme Krypton’s capital movements have been frequent. When the Pre-A round of strategic financing was completed in August 2021, the post-money valuation was about 9 billion US dollars, and the recent completion of 750 million US dollars financing, the post-money valuation was 13 billion US dollars, about 89.80 billion yuan; Geely Automobile is planning to spin off Extreme Krypton. Compared with the new car-making forces NIO, Xiaopeng, Ideal, and Zero Run, which have sold more than 100,000 cars in 2022, as of March 10, the valuation of the corresponding four companies is 102.40 billion yuan, 59.80 billion yuan, 154.90 billion yuan, 27 billion yuan; It is not difficult to see that the valuation of polar krypton is higher.

For new car manufacturers, profitability is still a problem. Extreme Krypton Auto’s net losses in 2021 and the first half of 2022 reached 1.01 billion yuan and 759 million yuan respectively. In just one and a half years, Extreme Krypton has lost up to 1.769 billion yuan.

Geely Automobile’s continued losses and huge demand for capital may also put pressure on Geely Automobile. Geely Automobile disclosed that in the first half of 2022, Geely Automobile’s gross profit margin fell by 2.6 percentage points year-on-year to 14.6%, and the sharp decline in net profit was mainly due to the negative impact of the increase in raw material costs and the increase in the proportion of new energy vehicles.

In recent years, Geely Automobile’s net profit decline has become a trend. Wind data shows that from 2019 to 2021, the company’s net profit was 8.19 billion yuan, 5.534 billion yuan and 4.847 billion yuan, respectively, down 34.76%, 32.43% and 12.4% year-on-year; in the first half of 2022, Geely Automobile’s net profit further decreased by 34.81% year-on-year, to 1.552 billion yuan.

In terms of profitability, Geely Automobile’s gross profit margin in 2018 fell from 20.2% to 14.6% in the first half of 2022, but the expense ratio rose from 7.8% in 2018 to 13.7% in the first half of 2022, and the expense ratio continued to rise. In comparison, BYD’s gross profit margin in the first half of 2022 was 13.51% and the expense ratio was 8.58%. During the same period, Geely Automobile’s gross profit margin was slightly higher than BYD, but the expense ratio was much higher than BYD.

At the same time, Geely Automobile’s inventory is high. As of the end of June 2022, Geely Automobile’s inventory was 7.567 billion yuan, a significant increase from 5.522 billion yuan at the end of 2021. In the inventory, the inventory of manufactured goods increased sharply from 2.94 billion yuan at the end of 2021 to 4.063 billion yuan at the end of June 2022. How to remove inventory also tests Geely Automobile’s management ability. (Produced by Thinking Finance) ■

37,000 the order volume of Hengchi 5? "Beautiful, so beautiful"!

Hengchi Automobile officially announced the order of Hengchi 5 at the "First 720 Hengchi Festival". As of 18:23 on July 20, the order of Hengchi 5 had reached 37,180 units. It simply confirmed the words of Boss Xu: "Beautiful, so beautiful"!

Hengchi New Energy Vehicle Group President Liu Yongzhuo said in an interview recently that since the pre-sale conference on July 6, the market response of this car has exceeded expectations, and confidently believes that: Hengchi 5 big sale has become a foregone conclusion! On July 6, the day of the announcement of the pre-sale price of 179,000 yuan, the conference introduced various rich configurations including three screens, etc., and the host called Hengchi 5 the best pure electric SUV within 300,000 yuan.

In addition, Hengda mobilized almost all the available forces and allocated them to major regions and subdivided them into each project. The specific sales assessment indicators will be determined according to the number of community owners. Even grass-roots employees have 2 indicators per person, and deputy managers have 4 indicators above; in addition to employees, the community housekeeper of the property also assists the owner to complete the task of downloading and registering the Hengchi APP. Xu Jiayin personally supervised the formation to ensure that Hengchi 5 could open the market in the early stage.

Hengchi 5 is positioned as a compact pure electric SUV. The new car CLTC has a comprehensive cruising range of 602km. The car can be returned and refunded within 15 days after pickup, and the 60% discount will be repurchased within three years after pickup. The deposit for the first 10,000 cars is 10,000 yuan to 20,000 yuan. What kind of clues are there behind such a beautiful operation?

First of all, the car purchase payment is paid to the special account supervision of Tianjin Jinbin Notary Office. This is the first time I have seen it in the automotive field. Of course, everyone knows the problem of Evergrande’s capital chain. If a large amount of money is injected into the corporate account, it is likely to be wasted.

In addition, Hengchi had previously found agencies or industry media to place a large number of advertisements, but many of the settlement fees had not yet been received. When he went to Hengchi Automobile’s public relations, he found that people had already left the tea cold. Unless they went to Guangzhou to file a lawsuit, the media would have to suffer a loss.

The most important thing for Hengchi at the moment is to build the car. After all, everyone has long learned about Hengda’s credit. From the number of days to the delay in delivery, the masses really don’t want to listen to fake news anymore. If the car can be delivered smoothly, it is indeed a good development for Hengchi. Unlike buying a house, if the deposit is paid first, the deposit cannot be returned at most, and the related losses cannot be compared with buying a house. But now, it is not easy for everyone to make money, and if it cannot be delivered in the end, the losses will be not small. At that time, the cost of all aspects required to protect their rights will be enough to drink a pot.

So whether it is beautiful or not, time will give us the answer. Please wait and see.

The price is 894,900 yuan, and Volvo’s new XC90 T8 model is on the market.

  A few days ago, Netcom learned from the official that Volvo’s new XC90 T8 model was launched at a price of 894,900 yuan. The new car is mainly adjusted for the power battery. The new XC90 T8 model is equipped with a brand-new power battery and rear axle motor drive system, with a comprehensive maximum output of 335 kW and a pure electric cruising range of 59 km. It is worth mentioning that Volvo’s new XC90 T8 model can also start the "single pedal" mode.

Netcom automobile

  

car make and model Price (ten thousand yuan) RECHARGE T8 four-wheel drive Zhizun Deluxe Edition 89.49 Watchmaking: Netcom Internet Info Agency

 

Netcom automobile

  In terms of appearance, Volvo’s new XC90 T8 model continues the current model design. The chrome-plated air intake grille with large concave front face is very imposing, and the active follow-up LED headlights with adaptive high beams on both sides of the front are very recognizable. In addition, it is equipped with a brand-new front enclosure component, and the blackened air inlet is decorated with silver decorative strips, which is full of movement.

Netcom automobile

Netcom automobile

  The side shape of the new car is full, and the chrome trim strips at the window frame and side skirt are matched with large-size multi-spoke wheels to further enhance the fashion sense of the car. In the rear part, Volvo’s new XC90 T8 model is equipped with a rear spoiler, which is highly recognizable with the iconic vertical LED taillights. In addition, the car is equipped with the exclusive badge of "T8 RECHARGE" at the tail, which shows its identity as a plug-in hybrid model.

Netcom automobile

  In the interior part, Volvo’s new XC90 T8 model is covered with a large area of leather material, which is very textured as a whole. In addition, the new car is also equipped with a 12.3-inch LCD instrument, which is full of technology with a 9-inch touch control screen. It is worth mentioning that the car also has a Bowers &Wilkins hall-class sound system and front seats that support heating, ventilation and massage functions.

Netcom automobile

  In the power part, the new XC90 T8 model adopts brand-new power battery and rear axle motor drive system. Among them, the battery capacity of the car is 18.8 kWh, and the pure electric cruising range is 59 kilometers; The motor power is 107 kW, the torque is 309 Nm, the comprehensive power is 335 kW, and the peak torque is 709 Nm.

  (Photo/Text Netcom Zhang Xiaoyi)

BYD Qin PLUS DM-i Champion Edition was officially launched, with a price of 99,800 yuan.

    A few days ago, BYD Qin PLUS DM-i 2023 Champion Edition was officially launched. The new car has launched five models: 55KM leading model, 55KM surpassing model, 120KM leading model, 120KM surpassing model and 120KM excellent model. The official guide prices are 99,800 yuan, 115,800 yuan, 125,800 yuan, 135,800 yuan and 145,800 yuan respectively. Among them, the 55KM leading model makes the price of BYD DM-i model drop to less than 100 thousand yuan for the first time. As an annual redesigned model, the new car is mainly optimized and upgraded in terms of interior and configuration, and the selection of exterior and interior color matching is increased.

    In terms of appearance, the front face design is concise and capable, and the large-size hexagonal air intake grille is decorated with many short chrome-plated bars inside, which has a strong visual effect. Penetrating chrome-plated decorative strips connect LED split headlights on both sides, which lengthens the visual width of the front face. The word "Qin" in the center of the decorative strip indicates the identity of the new car. At the same time, the combination of the heavily pressed front and the four three-dimensional lines on the engine compartment cover creates a diving visual effect, which is quite sporty. In the aspect of appearance color matching, black jade blue color matching is added, which not only has the calm atmosphere of ink color, but also has the bright luster of jade.

    In terms of body size, the length, width and height of the new car are 4765x1837x1495mm and the wheelbase is 2718mm, which is consistent with the 2022 model and is positioned as a compact car with four doors and five seats. The side lines of the car body are smooth, the windows are decorated with chrome trim strips, and the exclusive chrome nameplate is added at the front fender.

    In terms of interior, the warm sun brown interior color matching is added, and the warm color interior makes the visual experience inside the car more warm and harmonious. The standard sports seat in the car adopts a brand-new punching process to improve the heat dissipation of the seat, and the electric adjustment of the co-driver seat and the heating function of the front seat are added to enhance the comfort when riding.

    The newly equipped DiLink4.0(4G) intelligent networking system in the car has faster voice response and more beautiful visual effects. The number of speakers has been upgraded from 6/8. Except for the 55KM leading model, the other models come standard with karaoke function.

    The central control display screen of 120KM superior and 120KM superior models has been upgraded from 10.1 inches to 12.8 inches. The car also comes standard with 8.8-inch LCD instrument panel, engine electronic anti-theft, front armrest, GPS navigation system, navigation road information display, Bluetooth/car phone, voice recognition control system and other configurations.

    In terms of power, Qin PLUS DM-i 2023 Champion Edition is equipped with a DM-i hybrid system. The maximum power of the engine is 80kW, and the peak torque is 135 N m. It is matched with a permanent magnet/synchronous front single motor, and the transmission is matched with an E-CVT continuously variable gearbox. According to different configurations, NEDC pure electric cruising range can be selected from 55 km and 120 km.

Stop production, close factories, OEM … How to break the dilemma of automobile overcapacity?

  Recently, the China Machinery Industry Federation released the operation of the machinery industry in the first half of 2019, in which the data of the automobile industry showed that the growth rate of total profit turned from positive to negative, and it showed negative growth for the first time in more than a decade. In the second quarter, the utilization rate of automobile manufacturing capacity was 76.2%, down 2.1 percentage points from the first quarter. The National Bureau of Statistics’ "National Industrial Capacity Utilization Rate" data shows that the capacity utilization rate of China’s automobile manufacturing industry was 77.2% in the first half of 2019, down 3.8% year-on-year.

  Compared with the normal range of capacity utilization rate of 79% ~ 83%, the figure of 77.2% means that China’s automobile capacity utilization rate has fallen below the "safety line". However, as the signs of recovery in China’s automobile market are still not obvious and the market is weak, the sales data in July showed that the new energy automobile market, which has been growing at a high speed, experienced negative growth for the first time, so the situation of idle production capacity may continue to deteriorate. How to find a way out for excess capacity has become a top priority for many auto companies.

  The production capacity of car companies exceeds 60 million.

  In fact, the word overcapacity has been in parallel with the rapid development of China’s automobile industry. As early as 2006, the State Council clearly pointed out that the automobile industry was overcapacity. The National Development and Reform Commission also issued documents to control new vehicle projects and appropriately improve investment access conditions, aiming at curbing overcapacity. At that time, the annual sales volume of China cars was 7.2 million.

  However, with the irrational growth of China’s automobiles, many automobile companies have long forgotten the overcapacity in the face of double-digit annual growth. 10 million vehicles, 20 million vehicles … … The huge increase in automobile production and sales has made many automobile companies see the great potential of the China market, and they are overly optimistic about the market expectations. Many automobile companies have started to invest blindly and continue to expand their production capacity reserves. The news that "the fourth factory of XX automobile enterprise is officially put into production" and "the foundation laying ceremony of the fifth factory of XX automobile enterprise is officially held" is constantly seen in newspapers. According to the report "Capacity of China Automobile Industry at the End of 2015", by the end of 2015, China’s automobile production capacity was 31.22 million. Among them, during the period from 2011 to 2015, China’s new automobile production capacity increased by 10.87 million vehicles; By 2016-2017, the new production capacity will be about 6 million vehicles. At present, China’s automobile production capacity is still in the stage of continuous expansion. While auto companies are still investing and building factories for the rapid growth of the market and think that the auto market will climb further, China’s auto market suffered the first decline in sales in 2018, and began to continue to slump. The problem of overcapacity in the auto manufacturing industry, which has not attracted enough attention, has finally been exposed.

  In 2018, the planned annual production capacity of China’s automobile industry has exceeded 60 million vehicles, among which the announced production capacity of new energy vehicles will exceed 20 million vehicles by 2020, which is 10 times the sales target of the Medium and Long-term Development Plan for Automobile Industry. According to the data released by China Association of Automobile Manufacturers, the annual automobile output in 2018 is only 27.809 million, and the growth rate of production capacity reserve is far greater than the growth of market demand, so it is inevitable that a large amount of production capacity will be idle.

  The capacity utilization rate of many car companies is less than half.

  Although the capacity utilization rate of China’s automobile manufacturing industry in the first half of 2019 given by the National Bureau of Statistics is 77.2%, in fact, the capacity utilization rate of many automobile companies has already been lower than this figure. In the automobile industry research report released some time ago, Guosen Securities pointed out that in 2018, the capacity utilization rate of Geely Automobile, FAW Group, Chery Automobile, BYD Automobile, Jianghuai Automobile, Dongfeng yueda Kia, Changan Ford and Haima Automobile did not reach 70%. According to foreign media reports, in the first half of 2019, the capacity utilization rate of Ford’s factory in China was only 11%; The capacity utilization rate of the joint venture between Peugeot Citroen Group and Changan Automobile is only 1%, and that of the joint venture with Dongfeng Motor is only 22%.

  According to public information, Changan Ford has five vehicle factories in Chongqing, Harbin and Hangzhou, with a total production capacity of about 1.6 million vehicles. After Ford’s sales in China reached its peak level three years ago, it sold a total of 957,000 new cars in 2016, and then continued to decline. In 2018, the output was 387,000, and the capacity utilization rate was 24.2%. In the first half of 2019, Changan Ford sold a total of 75,000 new cars, a year-on-year decrease of 67%.

  Another hardest hit area with idle production capacity is French car companies. Founded in 1992, Dongfeng and PSA each hold 50% of the shares. It owns two brands, Dongfeng Peugeot and Dongfeng Citroen, and four production bases, among which the first, second and third factories of Shenlong are located in Wuhan, and the fourth factory is located in Chengdu. The data shows that the production capacity of the first three factories is 300,000, 150,000 and 300,000 respectively, and the total production capacity of the four factories is 990,000. According to the production and sales data released by the Federation, in the first half of 2019, Shenlong Automobile produced a total of 64,000 vehicles, down 61.6% year-on-year. Changan Peugeot Citroen has produced only 107 vehicles, down 96.9% year-on-year, while its first-phase factory has a production capacity of 200,000 vehicles. Serious idle production capacity has attracted the attention of PSA Group executives. Previously, in the second quarter earnings conference call, Philippede Rovira, the global chief financial officer of PSA Group, said that PSA Group would solve the problem of idle capacity of Shenlong Automobile by renting factory facilities.

  The overcapacity problem of Renault, another legal brand, in China is also very prominent. The total production capacity of Renault Wuhan plant is 150,000 vehicles, and only 48,000 vehicles were produced in 2018, with a capacity utilization rate of 31.9%. In the first quarter of this year, Dongfeng Renault’s capacity utilization rate was only 15.2%, with 5,700 vehicles produced and 5,800 sold.

  The situation of Korean car companies is equally bad. Since entering the China market in 2002, Hyundai Motor has quickly won the favor of the market by relying on the advantages of high cost performance in joint venture brands, and in 2013— In 2016, the annual sales volume exceeded one million. However, the sales of Hyundai Motor in China plummeted because it didn’t follow the changes of consumers’ tastes and launch products that kept pace with the market demand. In 2018, Hyundai Motor’s sales in China dropped to 790,000 vehicles, only half of the total production capacity of 1.65 million vehicles in China. Among them, Hyundai Motor Chongqing No.5 Factory was completed in 2017, and the operating rate has been very low. According to BusinessKorea, Hyundai Motor is preparing to transform its Chongqing factory into an electric vehicle factory to revive its declining business in China.

  The situation of the same brother Dongfeng yueda Kia is similar. According to the 2018 annual report, Dongfeng yueda Kia has three factories in Yancheng headquarters, with a total production capacity of 890,000 passenger cars per year. Based on the sales volume of 370,000 vehicles of Dongfeng yueda Kia in 2018, its capacity utilization rate is less than half.

  Japanese car companies have insufficient production capacity and are still expanding.

  Although the overall capacity of China’s automobile industry is overcapacity, the capacity utilization rate of some automobile enterprises is not only higher than the safety line of 80%, but even the capacity is insufficient. According to the data released by Bernstein, a research consultancy, at present, the capacity utilization rate of Daimler and BMW joint ventures in China has exceeded 90%. The capacity utilization rate of GM’s joint venture in China is 88%. Volkswagen’s joint ventures in China have also exceeded 80%. The capacity utilization rate of the joint venture between Honda and Toyota in China even exceeds 100%. Relevant persons of Dongfeng Honda even revealed in an interview with the media that the capacity utilization rate of this enterprise is close to 140%.

  Due to a serious shortage of production capacity, Toyota is still starting a new factory. At present, Toyota’s two joint ventures in China, FAW Toyota and GAC Toyota, have eight factories in Changchun, Chengdu, Tianjin and Guangzhou. The total production capacity of FAW Toyota’s three factories and five factories is 622,000 vehicles, and the total production capacity of GAC Toyota’s three factories is 480,000 vehicles. FAW Toyota sold more than 720,000 vehicles in 2018, with a target of 745,000 vehicles in 2019, and GAC Toyota sold 580,000 vehicles in 2018. 720,000 vehicles plus 580,000 vehicles, which shows that Toyota’s eight factories in China have been working overtime and overloaded in 2018, and the capacity utilization rate has exceeded 100%.

  In 2019, Toyota’s sales target in China was 1.6 million vehicles, up 8.4% year-on-year, and the target in 2020 was 2 million vehicles. Toyota’s production capacity in China is only 1.1 million vehicles, compared with 2 million vehicles, there is still a gap of nearly 900,000 vehicles. Therefore, at the off-line ceremony of the brand-new TNGA Asian Dragon on March 22nd, FAW Toyota announced the completion of a new TNGA plant, and simultaneously started the new plant capacity increase project. According to the relevant EIA report, FAW Toyota has started to increase the capacity of 240,000 new energy vehicles, including 120,000 in Tianjin Xinyi Plant and 120,000 in Changchun Fengyue Plant. The 12-million-yuan expansion of GAC Toyota’s third plant has also been officially launched. At the same time, the fourth factory with a total investment of 4.988 billion yuan and an annual production capacity of 200,000 new energy vehicles is carrying out preliminary work, which is expected to be the production base of new energy vehicles exported by Toyota to Asia in the future.

  Where is the way out for idle capacity?

  A few car companies urgently need to expand production capacity, but most car companies still need to deal with idle production capacity. For some car companies, how to digest excess capacity has become a major event related to the survival of enterprises.

  For example, Shenlong automobile, which has been in the vortex of various rumors recently. Since 2015, the sales of Shenlong Automobile have been falling. 705,000 vehicles, 600,200 vehicles, 377,500 vehicles and 253,400 vehicles. The number in the first half of this year was 63,000 vehicles, down 60.05% year-on-year. The decline in sales volume is undoubtedly accompanied by the idleness of production capacity and manpower. How to solve this problem? There are rumors that Dongfeng Motor wants to sell its PSA shares. After clarification by both parties, it is reported that Dongfeng Motor and PSA Group will lay off employees and sell the factory … …

  In addition to unconfirmed news, it is certain that many auto companies have taken action early in order to transform idle capacity. Dongfeng yueda Kia temporarily closed an automobile manufacturing plant in Yancheng, Jiangsu Province, and plans to start producing electric vehicles in the plant by the first half of 2021.

  Compared with closure and suspension, changing production is a relatively good choice. Since last year, BAIC Group has adjusted its industrial structure, product structure and industrial chain, and transferred the Beijing branch of BAIC to Beijing Benz, becoming the third factory of Beijing Benz, and turning it into the production base of Mercedes-Benz high-end new energy vehicles in the future.

  Some companies have chosen to work for the new car-making forces. For example, Jianghuai OEM Weilai, Haima OEM Tucki, Changan Suzuki OEM Luchi Automobile, Dongfeng yueda Kia OEM Chinese Express & HELIP; … Although the OEM model has been controversial, after the cooperation between the two parties, traditional car companies can effectively revitalize idle production capacity, and new car-making forces can also save the construction cycle and quickly reach mass production.

  In addition to OEM, it is also a good idea for traditional car companies to warm up with new car-making forces and set up joint ventures. For example, Guangzhou Automobile Group will set up a joint venture with Weilai Automobile, and Tianjin faw xiali will set up a joint venture with Bojun Automobile. For the new car-making forces, they can obtain the qualification of new energy production and sales, at the same time, save the cost and cycle of investment and factory construction, rely on the manufacturing advantages of traditional car companies, and create brand-new products through joint development (the best cooperation state) to achieve the purpose of reducing costs and increasing efficiency. For traditional car companies, idle production capacity can be reused. Bundling the brand promotion of new forces to build cars can also enhance their brand influence. So far, the two sides have achieved win-win cooperation.

  Expert opinion

  Is OEM the best way to solve idle capacity?

  Compared with stopping production, closing factories or selling land, OEM for new car-making forces has become a good choice for many enterprises with serious overcapacity.

  However, many professionals believe that OEM is only one of the transition strategies. "The loss of fixed assets can’t stop, and OEM earns points." Whether it is a traditional car company or a new force to build a car, OEM is not a long-term solution. " An insider of an independent brand said.

  Recently, it is reported that the draft management measures for OEM have been drawn up, which requires R&D investment, production capacity and sales volume as restrictive conditions, and the threshold for OEM and OEM car companies has been greatly improved. For example, in the past three years, the domestic R&D investment has reached at least 4 billion yuan; In the past two years, the sales volume of pure electric passenger cars worldwide has reached at least 15,000; The OEM contract must be signed for 3 years or more, and the annual production capacity of the OEM in the same place should reach at least 50,000 vehicles; Enterprises need to have paid-in capital of billions of RMB; At most, it can only be contracted by two car companies.

  "The OEM model is more like a transitional means. Because with the growth of output and sales, it is essential to build a factory and have independent research and development and production strength. This is also conducive to solving possible production technical problems and improving production efficiency. " Cui Dongshu, secretary general of the National Passenger Car Market Information Association, said.

  This view has also been confirmed by Shen Hui, chairman of Weimar Automobile. Shen Hui believes that the cold winter of the automobile and capital markets has not dissipated, and capital will be more concentrated in the head enterprises that have achieved batch delivery. "Generally speaking, high-quality production capacity will not be idle, and idle production capacity will not be of high quality. Therefore, encouraging the coexistence of various production modes such as OEM is also an important lever for utilizing and upgrading idle and backward production capacity." However, Weimar chose a self-built factory with higher cost and greater difficulty instead of OEM because it attached importance to product quality and quality. "The self-built factory can control the quality and quality on the basis, and can continuously upgrade and improve, and at the same time realize C2M customized production."

  Simply speaking, C2M customized production is to make products meet the individual needs of consumers. Zhu Weihua, secretary-general of the Information Service Committee of China Automobile Industry Association, said frankly: "The overcapacity of automobiles needs C2M rescue."

  Zhu Weihua believes that at present, all kinds of personalized customization are pseudo-customization in nature, and car owners have only a limited number of choices in the end. Car companies are still selling by production in essence, but they only produce more configuration varieties and give users more choices. It is impossible to talk about the user placing an order and then producing it. As a result, car owners give up their personalized choice, and car companies waste their costs on spare parts inventory and dealer inventory, and there is no incentive to optimize production and manufacturing costs.

  Judging from the grim situation of the current automobile market, it is possible for car sellers to satisfy the needs of a small number of users only by working very hard to please users. If users are not given more choices, it is impossible to sell a large number of cars. The larger the car companies, the more they need C2M, and then consider the differences between car networking and electric car service packages, and consider the personalized marketing of these personalized services.

  In addition to starting with products, many people in the industry also suggest that enterprises should integrate and hold a group to keep warm. Dong Yang, the first vice chairman of the International Automobile Manufacturers Association, once said that the lack of cooperation is an important shortcoming among China brand enterprises. If we can get better development without joining forces in the past, then in the current market environment, it is even more important for China car companies to strengthen cooperation and learn from each other’s strong points for mutual benefit and win-win results.

  Giving full play to the synergistic effect and establishing alliance relations are the forms to cope with the increasingly severe competition in the market. Last year, FAW, Dongfeng and Changan took the lead in establishing strategic cooperation in four areas: forward-looking common technological innovation, automobile full value chain operation, expanding overseas markets and exploring new business models. In addition, traditional car companies, internet companies, travel service companies and new car-making enterprises have begun to cooperate hand in hand in various fields. The cooperation with new power enterprises has also gradually expanded from the earliest OEM production to in-depth cooperation in research and development, procurement and sales.

  When the downward trend of the automobile market encounters industrial transformation and upgrading, there will be a large number of car companies whose operating conditions are worrying. Zhu Huarong, president of Changan Automobile, once said that in the next 3-5 years, the shutdown and transfer of car companies will no longer be information. Most automobile enterprises will be eliminated. Faced with the uncertainty and complexity of the market, it is necessary for car companies to integrate and develop before, between new forces and traditional car companies to achieve a win-win situation.

  Text/reporter Li Dongying

24-hour bookstore enriches wuhan nightlife. You have a good place to stay up late reading.

Citizens read books in a 24-hour bookstore. Intern Peng Hua, reporter Yang Taoshe

  In November 2014, Zall Bookstore launched a 24-hour business mechanism of "culture does not close", waiting for people to read books every cold or hot night. At that time, Zall was the first 24-hour bookstore in Wuhan. In recent years, the 24-hour bookstore in Wuhan has added Jiuqiu Library and Boshihui City Study, enriching the cultural nightlife in Wuhan.

  24-hour bookstore is a night reader.

  Provide a quiet place for reading

  "There will be many interesting things happening at night." Luna is the manager of Jiuqiu Library, which is located in Dongsan Road, Fruit Lake, Wuchang District. It opened on January 25, 2016 and has been open since then.

  On the 18th, she told reporters that the biggest feeling of working at night shift is to find that there are really many people who love learning. There used to be an old man who rode an old bicycle every night and went back around 6: 00 in the morning. He studied English here all night. There are often some students from Wu Da University here, and he will ask them for advice. A girl from Wu Da University specially prepares study materials for this grandfather, and she will put them here the next day for the clerk to hand over to him.

  On the 18th, a young girl was watching a video with headphones, and there was a book full of notes in front of her. The post-90s girl who was preparing for the exam as a certified public accountant usually came over after work and talked about her views on this 24-hour bookstore. The girl said, "People who stay up late need this kind of store very much."

  Unattended libraries can "brush their faces" to borrow books

  On July 12th this year, the 24-hour city study room on the first floor of Boshihui International Plaza in Jiang ‘an District opened to welcome guests, which is located near Sanyang Road subway station. There is no librarian in the museum, and citizens can enter the museum at any time, "brush their faces", and apply for certificates and borrow books by themselves. This is the first unattended intelligent library in Wuhan. Since opening up, it has become a popular punching point for citizens.

  On the 18th, the reporter visited this intelligent library. At about 9 pm that day, a floor-to-ceiling transparent glass study room on the left side of the lobby on the first floor of the building was lit with yellowish light. There is a face recognition access control system at the door. When you enter the library for the first time, you need to swipe your ID card. There is a self-service borrowing and returning card machine in the tube, which can handle the reader’s ID card and complete face registration and WeChat binding. Later, you can enter the library without a card, and you can "brush your face" to borrow and return books by yourself.

  Ms. Mei, who passed by here at night, picked out five books, put them in the sensing place, and the machine began to recognize faces. In less than 10 seconds, the screen showed that five books were successfully borrowed at the same time. The mobile phone also received a message from WeChat prompting the successful borrowing. "Very convenient." Ms. Mei said that after the library opened, she would come here every other week or so, and if she had time, she would read here for a while.

  24-hour bookstore enriches the function of city night

  In recent years, wuhan nightlife has become increasingly diversified. In addition to consumption and entertainment at night, the opening of 24-hour bookstores and other cultural places has provided people with new choices and enriched the city’s night functions.

  At about 10 pm on the 17th, Mr. Deng, who lives near Zall Bookstore, wanted to go to the movies, but when he passed by the bookstore, he saw the lights on in the store and chose to go into the bookstore. "Watching movies is more of a social need. It will be better to go with friends, and it will be more enjoyable to read when you are alone." In 2013, Zall Bookstore opened in Wuhan and noticed that many readers had no time during the day and could only come at night. In 2014, Zall Bookstore started the 24-hour business mechanism of "culture does not close" and became the first 24-hour bookstore in Wuhan.

  On the 17th, when talking about the original intention of Zall Bookstore’s 24-hour opening, Ms. Gao, the manager, told the reporter that the 24-hour bookstore provided a choice and place for those who only had time to quiet down and study at night. 24-hour bookstore will not bring much benefit, but it is a functional existence, and there will always be people who need it, which is a useful supplement to the cultural construction of the city.

  Feng Guilin, a researcher at Hubei Academy of Social Sciences, believes that the more convenient the cultural facilities are for the public, the more diverse the forms and contents, and the more diverse the needs of various groups. This is not only a promotion for a city’s function, but also a guide, which can better improve citizens’ civilization quality.

  Trainee reporter Li Huizi