CCTV News:In August of this year, a video of an online cargo anchor stopped by the police during the live broadcast was circulated on the Internet. The video was only 30 seconds long, but it attracted a lot of netizens’ attention, and they speculated why the anchor was taken away by the police during the live broadcast. Recently, the Shanghai police confirmed that this video took place in an arrest operation by the police in Hangzhou, Zhejiang Province. At that time, the network anchor and his operation team were conducting a live webcast to bring goods, and they were selling counterfeit and infringing goods.

Shanghai police confirmed to reporters that this video took place in an arrest operation in Hangzhou, Zhejiang Province on August 28. This live broadcast room belongs to a live broadcast anchor named Silent M07. At that time, she was broadcasting live with her operation team. With the stunned expression of the anchor and the appearance of plainclothes policemen, the whole live broadcast came to an abrupt end, and this scene also shocked hundreds of thousands of netizens who were watching the live broadcast.

On the spot, the police controlled 7 people, in addition to the anchor with the goods, there are alsoFourStaff of the operation team and two staff of the supplier. A large number of goods, such as clothing, shoes and hats, jewelry and watches, were also seized at the scene, which was the reason for this action.　

More than 50 people were arrested in 8 dens for manufacturing and selling counterfeit goods.

Not only that, but at the same time, multi-channel police launched operations in Zhejiang and Guangdong. According to the police, the goal of this operation is to crack down on criminal gangs that manufacture and sell counterfeit goods. During the operation, more than 50 criminal suspects were arrested, 8 dens were investigated, and more than 3,000 counterfeit luxury brands’ bags, clothing and other commodities were seized on the spot.

Knowing the fake and selling fake "online celebrity" anchor has become a sales promoter.

Recently, the Shanghai police announced the latest development of the case. Of the more than 50 suspects arrested at present, 41 have been arrested by the procuratorate, and the case is under further investigation. Then, how did this anchor with a million fans go to the road of knowing fakes and selling fakes, and how did it attract the attention of the police? During the investigation, the police found that the anchor tried every means to avoid the brand of the goods he sold in the live broadcast. All indications showed that the anchor and members of the live broadcast team knew that a large number of goods they sold were counterfeit and infringing goods.

So who is this anchor who was taken away? According to the police, the anchor network is named Silent M07, whose real name is Liao, and he is 27 years old this year. In 2017, she signed a contract with a brokerage company to become an online shopping anchor, and began to open a live broadcast room on a well-known e-commerce platform, specializing in women’s wear and accessories. Due to his professional experience as a graphic model, Liao accumulated millions of fans in just three years and became a "head anchor".

There are a lot of abnormal phenomena in the live broadcast that attract the attention of the police.

As one of the many anchors with goods, why do the police pay so much attention to Liao’s live broadcast? Things have to start from May this year. This year, affected by the epidemic, the online shopping form of live broadcast with goods is increasingly recognized by netizens, but there are a lot of unusual phenomena in Liao’s live broadcast.

During the police investigation, it was found that Liao lived for nearly seven or eight hours every day, sometimes as long as 10 hours, and lived almost every day all year round. In the long-term live broadcast, there are often some clothes, jewelry, watches, etc. suspected to be well-known luxury brands. However, Liao never clearly stated the brand of the goods in the live broadcast room, and also blocked the trademarks on the goods.

Deliberately compare the counter price when displaying fake goods.

At the same time, when she shows the goods, she often takes out the genuine counter price as a comparison. Some luxury goods that cost tens of thousands or even hundreds of thousands are only one-tenth or even lower when she broadcasts live, so as to attract consumers to buy.　

Not only that, the brand logo will be covered in all the links of goods suspected of infringement. At the same time, the police found that all the live broadcast pages would be hung with the words "download, delete and play back, keep up with the rhythm", which is very different from the practice of retaining playback in the general live broadcast room.

Unscrupulous merchants use "online celebrity Live" to increase the sales of fake goods.

Because of the strong ability to bring goods, fake merchants have asked Liao to bring goods. Merchants come here, and Liao’s team accepts all the orders, and the business is getting bigger and wider.　

The police investigation found that the fakes recommended by Liao’s live broadcast came from different businesses. Because the traditional online shopping platform has made great efforts to investigate and deal with counterfeit and infringing goods, in order to expand its sales,business operatorI met Liao’s live broadcast team through an intermediary introduction.

The words "a little better" in the mouth of merchants are very implicit. Usually, the prices of their goods are close to genuine prices, and no one cares at all, but they are enthusiastically sought after by fans in the live broadcast room.

The fake merchants with high commission also provide extra appearance fees.

Selling fake goods not only brings huge commission income to Liao’s team, but also provides an extra appearance fee for the fake merchants. Under the temptation of dual interests, Liao’s live broadcast room began to become a popular channel for the sale of counterfeit goods. Police investigations found that nearly 30 of the hundreds of businesses that cooperated with Liao were suspected of selling counterfeit luxury goods.

Many fake merchants have come to the door to ask for goods, and Liao also accepted them according to the order. At the same time, the live broadcast platform is not supervised, and the brokerage company never asks questions, which has become a hotbed for illegal crimes.

In the first three quarters, there were 21,900 complaints related to live broadcast.　

Not long ago, the statistics of the first three quarters of 2020 of the national 12315 platform released by the State Administration of Market Supervision showed that. In the first three quarters of this year, complaints about online shopping accounted for 31.85% of the total number of complaints and reports, and a total of 21,900 complaints and reports related to live broadcast were received, up 479.60% year-on-year, and live broadcast claims accounted for nearly 60%. The demands related to live broadcast mainly focus on jewelry, clothing, shoes and hats, household items and so on. Immediately the annual "Double Eleven""Is coming, how to make the live broadcast bring benefits and convenience to buyers, but also more reassuring, which is an urgent problem for live broadcast platforms, online shopping platforms, merchants and anchors.

Major listed companies in the video surveillance equipment industry:At present, there are mainly listed companies in the domestic video surveillance equipment industry (002415); (002236); (002214); (300449); (300150); Dongfang Netpower (300367); (300155); (002835); (300101)。

Core data of this article:China video surveillance equipment industrial chain, China video surveillance equipment panorama, China video surveillance equipment industrial chain enterprise output.

1. Panoramic combing of the industrial chain of video surveillance equipment industry: video surveillance equipment is recycled into an important link.

The upstream of the industrial chain of video surveillance equipment includes components, algorithms and processor chips, among which components mainly include sensor chips, optical lenses and memories. The algorithm mainly includes image processing, video compression and content recognition. The processor chip mainly includes ISP chip in analog camera, SoC chip in network camera, SoC chip in DVR/NVR and deep learning algorithm accelerator chip.

Midstream equipment products mainly include front-end cameras (divided into analog cameras and network cameras), back-end storage and video recording equipment (divided into DVR, NVR, CVR, etc.), control and display equipment at the central control end (including display screen, server and control keyboard, etc.) and optical terminals and switches in each transmission link. In addition, there are system management software based on hardware products.

The downstream products have a wide range of terminal applications, which can be divided into city-level, industry-level and consumer-level end-user applications.

At present, in the field of upstream components of video surveillance equipment, the main representative companies are Hehe, Huawei Hisilicon and ZTE Microelectronics in the field of processor chips, and contempt technology and Shangtang technology in the field of algorithms. In the middle reaches of video surveillance equipment, Hikvision and Dahua Co., Ltd. have layouts in front-end, back-end, control terminal and other hardware fields, software and integration. There are many industries and enterprises involved in the downstream of the video surveillance equipment industry chain, and the representative enterprises are,, and so on.

2. The regional thermal map of China video surveillance equipment industry chain: Shanghai is the most concentrated.

Due to the low technical content and low entry threshold of low-end video surveillance equipment, there are many video surveillance enterprises in China, but the scale is generally small. According to the data of Qicha Cat, China’s video surveillance equipment related enterprises are mainly distributed in Shanghai, Guangdong, Jiangsu, Fujian and other regions, with the distribution characteristics of "western light and eastern heavy". Among them, Shanghai has the most concentrated distribution of related enterprises. As of August 2021, Shanghai has more than 40,000 enterprises, followed by Guangdong with more than 30,000 related enterprises.

From the distribution of representative enterprises, there are many representative enterprises in Beijing, Shanghai, Guangdong and Zhejiang, among which Hikvision and Dahua, the leading video surveillance enterprises in China, are located in Zhejiang.

3. Capacity/output of representative enterprises in China video surveillance equipment industry: Hikvision’s output is far ahead of other enterprises.

At present, among the listed companies with chips related to frequency monitoring equipment, the output of integrated circuit series products is more than that of other companies, and the output of Hikvision is far ahead of other companies in video monitoring listed companies. The capacity/output of other representative enterprises in the industrial chain of video surveillance equipment industry is as follows:

Note: The enterprises in the statistics are listed companies that have published relevant capacity/output data, and listed companies that have not published specific capacity/output data are not included in the statistics.

4. Latest investment trends of representative enterprises in China video surveillance equipment industry.

Since 2020, the investment trends of representative enterprises in the video surveillance equipment industry mainly include acquiring companies to expand their business and investing in video surveillance equipment production base projects by increasing capital of subsidiaries. The latest investment trends of representative enterprises in the video surveillance equipment industry are as follows:

Please refer to Foresight Industry Research Institute for the above data and analysis. At the same time, Foresight Industry Research Institute also provides solutions such as industrial big data, industrial research, industrial chain consultation, industrial map, industrial planning, park planning, industrial investment attraction, IPO fundraising feasibility study, IPO business and technology writing, and IPO working paper consultation.

With the approaching of the listing date of M9, more and more information is exposed. Recently, a person close to the supply chain revealed that the innovative composite current collector of lithium battery is expected to be applied in the M9.

The composite current collector is a sandwich structure of "metal -PET/PP polymer material-metal", which replaces the original pure metal foil. It has the application advantages of high safety, long life, high energy density and low raw material cost, and is expected to replace the traditional current collector and become the mainstream material of lithium battery current collector in the future.

Guangzhou Automobile Ai ‘an released magazine battery 2.0, which is the first battery in China to announce the adoption of composite current collector. The first model is Haoplatinum GT. At the launch conference of the car, Ai ‘an also announced the test report of the bullet shooting fully charged battery pack. The results showed that the bullet penetrated three batteries, which caused the battery pack to be short-circuited and burst in an instant, but the battery pack just smoked and did not catch fire, and the temperature dropped to room temperature after standing for 24 hours.

In addition, Contemporary Amperex Technology Co., Limited Kirin battery has adopted a composite current collector, which is mounted on pure electric MPV Krypton 009.

According to the research report of CITIC Jiantou, the composite current collector is both safe and economical, which is a major innovation in lithium batteries. In 2023, the industrial trend has gradually become clear and accelerated significantly, and equipment manufacturers, new copper foil factories, battery factories and end users have accelerated their layout; At the same time, the technology continues to break through, promoting the composite current collector to mass production, and 2023 is expected to become the first year of mass production.

headline

Chinese youth killed by police: video release is justified!

[Comprehensive News]Christian Hall (Chinese name: Chen Zhibo), a 19-year-old Chinese youth in Pennsylvania, was shot and killed by state police in December last year. At present, it has been ruled as a legitimate reason (legal) by DA in Monroe County, Pennsylvania.

On December 30th, someone called 911 anonymously, and the anonymous caller was Hall himself. The police rushed to the scene on I-80 and found Hall standing on top of the concrete safety barrier. After some continuous twists and turns, Hall then took the gun (an air gun like a pistol) from his waist and took a step towards the police. Then a police officer fired several shots, but missed Hall.

You can see that Hall raised his arm to the side, turned the weapon to the side, and turned the barrel to aim at his head. At this time, it was the critical moment when the police decided to shoot him.

The police said: "Because Hall’s behavior caused a potential threat of death or injury, in this case, it is legal for Pennsylvania police to use deadly force against Hall."

The Monroe County District Attorney said they didn’t think the police were at fault, and they wanted to make sure Hall’s family didn’t blame themselves for it. The prosecution said that Pennsylvania law does not require suspects to fire at the police. Hall (Chen Zhibo) used an air gun to force the police to shoot, which is a common "suicide by cop" behavior.

Spot News

1. There are dozens of mysterious brain diseases in North America, with 5 deaths and 43 hallucinations!

[Guardian]New Brunswick, Canada, has recently been exposed to investigating dozens of mysterious brain diseases. However, the news was first exposed by the outflow of internal government documents, and the health department refused to provide more details. It is reported that there have been 43 cases of such brain diseases in this province, and the cause of the disease has not yet been identified. Specific symptoms include memory shortage, vision problems, abnormal convulsions and so on.

According to the report, in 2015, the first suspected case appeared in the local area, and in 2019 and 2020, there were 11 cases and 24 cases respectively, and a total of 5 people died. However, it was not until last week that local residents learned the news from the internal memo of the health department obtained by the media. Health officials still refuse to disclose the specific location of the cases, but some experts say that the number of cases is small and there are still many problems to be studied, so the public should not panic.

2. Pfizer —BioNTech: The vaccine is 100% effective for teenagers aged 12-15.

【CNBC】Pfizer and BioNTech announced in a joint press release on Wednesday that Pfizer -BioNTech Covid-19 vaccine is safe and effective in adolescents over 12 years old. The vaccine can prevent symptomatic diseases 100% effectively in the experiment, and trigger a stronger immune response among teenagers than adults. They hope to start vaccination for American teenagers before the next school year.

Pfizer and BioNTech of Germany said that the vaccine trial data of nearly 2,300 teenagers aged between 12 and 15 will be submitted to the US Food and Drug Administration (FDA) in the next few weeks. At present, Pfizer -BioNTech vaccine has been approved by FDA and can be used urgently for people over 16 years old.

3, solved the case! The US Strategic Command tweeted garbled for Xiong Haizi.

[Fox News Network]On March 28, local time, the US Strategic Command Twitter sent a strange message, the original text was "; l; ; gmlxzssaw,”。 This tweet quickly triggered various speculations on the Internet. Some people suspected that the headquarters had inadvertently sent out the nuclear weapon launch code; Some people joked that this message was for aliens; Others "reasonably declined" that there was a cat stepping on the keyboard and "unintentionally" knocking down this line of words.

The US Strategic Command replied: At that time, the Twitter manager of the command was working remotely. Just when he left the computer for a short time and was still logged in to the Twitter account, his young children knocked down these characters and did not intend to send a tweet. In the end, the tweet was deleted, and before it was deleted, it had received 11,000 replies.

4. New York State Legislature Passes Marijuana Legalization Bill Governor: A Big Step.

【CNN】On the evening of the 30th local time, the Senate and the House of Representatives of New York respectively voted to legalize recreational marijuana, which will be submitted to New York Governor Cuomo for signing into law. According to the bill, adults in New York State who have reached the age of 21 will be legalized to use mahjong for entertainment, and residents can also grow marijuana at home according to the quantity requirements. In addition, the bill will abolish the conviction of holding no more than 3 ounces of marijuana in public places and automatically delete the criminal records of those convicted of possessing marijuana.

After the bill is signed, New York will become the 15th state to allow adults to use recreational marijuana. New York Governor Cuomo said the move was a "big step forward" for the state.

5. Biden’s dog has just returned to the White House and bitten again. It was sent back to his hometown for "aggressive behavior".

【CNN】On the afternoon of 29th local time, Biden’s sheepdog "Colonel" bit again after returning to the White House. It is reported that the incident occurred on the South Lawn of the White House, and the victim was an employee of the National Park Service who was working at that time. Subsequently, the White House medical department has inspected the employee, and he returned to work unharmed. Michael Larosa, Biden’s press secretary, told that the Colonel was still "adjusting (adapting) to the new environment".

Biden adopted the "Major" in an animal shelter in Delaware in November 2018. The "Major" is 3 years old and has shown exciting behaviors on many occasions, including jumping, barking and "attacking" staff and security personnel. Last November, Biden slipped and sprained his ankle while playing with "Major". At the beginning of March 2021, "Major" was sent back to Biden’s hometown in Delaware after his aggressive behavior in the White House, and was sent back to the White House soon after.

6. Russian registered the world’s first veterinary COVID-19 vaccine or mass-produced it in April.

Sputnik news agency & radio reported on the 31st that Savenkov, deputy director of the Russian Animal and Plant Health Supervision Bureau, announced that Russia had registered the world’s first COVID-19 vaccine for animals. It is reported that the vaccine, named "Carnivaccov", was developed by the Animal Health Center of the Russian Federation and did not show any side effects in the preliminary test.

It is reported that the clinical trial of the vaccine began in October 2020, involving dogs, cats, minks, foxes and other animals, and it is possible to start mass production in April. Companies from Greece, Australia, Poland, Canada, the United States and Singapore have expressed interest in buying.

7. The Utah Jazz charter plane was hit by a bird: the engine failed and there were many cracks in the fuselage.

【KUTV2】On the 30th local time, the Utah Jazz, an NBA basketball team, collided with a bird after taking off, resulting in engine failure and staged a moment of air fright. Fortunately, the crew turned off the affected engine in time, and finally the plane returned to Salt Lake City Airport safely. After landing, it was found that the nose was stained with blood, and cracks appeared in the nose and wing.

It is reported that the plane originally planned to fly to Memphis, Tennessee, in order to play an away game with Memphis Grizzlies on the evening of the 31st. Delta Air Lines, which is in charge of the accident flight, said that they are communicating with Utah Jazz to fly it to Memphis for the competition as soon as possible.

8. SpaceX test flight When the prototype of the 11th starship landed, it exploded and landed with loud noise and debris flying all over the sky.

【CNN】At 8: 00 am local time on the 30th, the test flight of "Star Boat" SN11 was carried out at the company’s R&D and test base in Bokachica, southern Texas. It is reported that SN11 successfully lifted off to a predetermined height of 6.2 miles after launch, but unfortunately the prototype exploded when it landed. The scene shows debris flying all over the sky. SpaceX engineer John Inspruk said that SN11 failed to land safely, saying that "all data on the spacecraft may have been lost".

SpaceX CEO Musk tweeted a few minutes after the crash: "At least the location of the crater is right!" It is reported that Musk has estimated that the "Star Boat" rocket project will cost about 5 billion US dollars. Since December 2020, SpaceX has carried out four "Star Boat" prototype test flights. In the previous three missions, SN8 and SN9 exploded when landing, and SN10 landed but then exploded.

9. A doorman in new york, USA, has been suspended for sitting idly by against Asian hate crimes.

【CBC】At about 11 noon local time on the 29th, a 65-year-old Filipino woman in midtown Manhattan, new york, was suddenly trampled down by an African-American man. The man also swore at the trampled woman and made racist remarks, but the security guards who witnessed the incident not only failed to help, but also closed the door from inside the building.

On the 30th, the broschi organization in charge of the building said that the doorman had been suspended and would investigate the matter with the trade union. According to a police statement, the Asian woman was seriously injured and has been transferred to new york University Langone Hospital, where she is in stable condition.

10. CDC announced that COVID-19 ranked third among the top ten causes of death in 2020.

According to the data released by the Centers for Disease Control and Prevention (CDC) on Wednesday (March 30th), in 2020, Covid-19 will be the third leading cause of death in the United States, after heart disease and cancer. The data shows that the virus caused nearly 378,000 deaths in the United States in 2020, accounting for 11% of the total death toll of 3.36 million in the United States. In 2020, heart disease killed about 700,000 Americans and cancer killed about 600,000 people.

Another analysis by the agency showed that 34% of COVID-19’s deaths were also attributed to complications caused by viruses, the most common being pneumonia and respiratory failure. In addition, as many as 80% of people who died of the virus had at least one potential health condition that led to their death, the most common being hypertension, diabetes and dementia.

11. Youtube refused to take off the shelves to encourage the robbery of Chinese song executives: no precedent can be set.

【ABC】Recently, employees of Youtube, a social media site, called for the deletion of the 2014 song "Meet the Flockers" by rapper YG, because it contained lyrics encouraging the robbery of Chinese. However, the appeal was rejected by company executives, who said that they must consistently implement the policy and "avoid setting a precedent that may lead us to remove many other music on YouTube."

When the song was published in 2014, no one paid attention to it, and two years later (2016), it triggered a condemnation from the Chinese American community. After causing controversy, this song was once deleted from Youtube by fans. On July 24, 2018, this song was rediscovered on Youtube through YG personal account. By 11: 00 am on March 31, 2021, Beijing time, the number of views had exceeded 110,000, with 3,344 likes and 3,644 clicks.

12. Volkswagen changed its name? Early April Fool’s joke!

Wall Street JournalAccording to the news released by Volkswagen’s American subsidiary on the 29th, in order to reshape the brand image, the company will change the letter K in its original name to T.. Volkswagen means "people’s car" in German, and the name change is to change "people" to "volt", which is the unit of voltage. The announcement said that the revised name will take effect in May, demonstrating the company’s determination to shift its focus to electric vehicles.

However, the press release about this news was quickly deleted from the company official website. Subsequently, the Wall Street Journal reported on the afternoon of 30th that the news of Volkswagen’s name change was a joke on April Fool’s Day, aiming at raising people’s awareness of Volkswagen’s electric vehicles and promoting the upcoming new electric SUV.

13. Married women don’t mind hiring a "man hug" husband for $80 an hour!

The sunA woman named saskia recently hired a professional man for $80 to "hug". According to saskia, she had to leave her husband for a while because of her acting career, and she soon began to feel "lack of touch" and turned to this special service. The woman’s husband doesn’t care about this. He said that they are one-on-one couples, and this hug will not interfere with the relationship between husband and wife.

It should be pointed out that this service is booming in the United States, and the number of requests for professional "hugs" reaches 200 every week.

14. The French Open is restored! Italy absconded for 7 years, and the Mafia was recognized by the police for indulging in cooking.

[Mirror]A 53-year-old member of the Italian mafia named Mark Phelan was wanted by the police and has been on the run for seven years. He fell in love with cooking while hiding, and he also liked to record the cooking process and share it with a YouTube channel created by him and his wife. In the video, he didn’t show his face, thinking that he was "invisible", but he forgot to cover his unique tattoo pattern. As a result, he was recognized by the police and tracked down, and he was arrested.

It is reported that seven years ago, the Italian prosecutor ordered his arrest on the grounds that he was suspected of trafficking drugs and cocaine for the "Ndrangheta Mafia". Since he fled, he has been living in seclusion in a quiet village in the Dominican Republic called Boca Chica. At present, Mark has been extradited to Italy and his YouTube channel has been closed.

15. A Brazilian couple had 14 boys in succession to form a football team.

According to the Brazilian media Uol, a couple in Bahia, Brazil, gave birth to 15 children, the first 14 of whom are sons. Because they love football, they formed a football team with these 14 sons. It is worth mentioning that the names of their 14 sons are Rodrigo, Ronaldo and Robson)…… … all of which begin with R. Cruz, a 44-year-old father, said that he got the name because these Brazilian stars with the R have brought happiness to the whole world.

Last September, the couple finally welcomed their first daughter, Layani, whose name also begins with R. The 39-year-old mother, Rusikred, said that it was finally complete. The couple said that now that they have daughters, they will not regenerate in the future.

Read the original text

Prison system/Junzhou

Editor/Derrick

Main broadcast/Zixuan

Compilation/Wenma, Derrick, Zavia, Amo, Wen Zhuo, Sanliun

Union chupin

Seattle Chinese Radio, USA

Chinese Radio Vancouver, Canada

　

　

Wen | Buer Research Institute Yi Xin Zi Qing

Following the price reduction of Tesla at the beginning of the year, in August this year, new energy vehicles once again set off a new wave of price reduction. Brand officials, such as Zero Run and Weilai, announced the price reduction, and the ideal was to "reduce the price in disguise" by releasing new cars.

On August 8th, LI (02015.HK) announced the second quarterly report of 2023. Although the net profit of the second quarter increased, its share price showed the opposite trend.

On the day of the financial report, its US stock price closed down by 8.62%; The next day (August 9), Hong Kong stocks closed down 5.52%.

As of August 14th, LI closed at HK$ 160.90 per share, corresponding to a market value of HK$ 335.4 billion (about RMB 311.1 billion).

According to the latest data released by Ideal, its delivery volume in the second quarter reached 86,533 vehicles, up 201.6% year-on-year and 65% quarter-on-quarter. In July, the delivery volume was 34,134 vehicles, up 227.5% year-on-year and only 4.7% quarter-on-quarter.

According to the announcement of LI, it is estimated that the delivery volume in the third quarter is only 100,000-103,000, equivalent to 33,000-34,500 vehicles per month. Based on this data, it is speculated that the growth of ideal monthly delivery volume may stagnate.

According to its second quarterly report, "Buer Research" found that in the second quarter of this year, LI’s revenue was 28.65 billion yuan, a year-on-year increase of 228.1%; The net profit was 2.31 billion yuan, turning losses into profits year-on-year, up 147.4% from the previous month.

In the second quarterly report, the ideal revenue doubled, but the strategy of re-marketing may continue. The R&D expenditure in the ideal second quarter was 2.43 billion yuan, up 58.4% year-on-year and 31% quarter-on-quarter. Sales, general and management expenses were 2.32 billion yuan, up 74.3% year-on-year and 40.4% quarter-on-quarter.

Source: official website, LI

At present, LI’s production capacity is limited to 8,000 vehicles per week, and the production capacity of parts suppliers has fallen into a bottleneck, which is also a challenge it faces in the second half of the year.

According to the financial report meeting in the second quarter, due to the development of economic situation and the upgrading of enterprise organization matrix at the beginning of the year, it is ideal to lower the planned annual sales target of 360,000 vehicles to 300,000 vehicles.

Today, the new energy vehicle has entered the second half, and the industry volume has been intensified; Although LI turned losses into profits year-on-year, how long can the story of its profitability be sustained and increased?

In March of this year, the new forces of building cars suffered a double crit.

The first crit comes from the continuous price reduction war of peer TSLA, and the second crit is the government-enterprise subsidy jointly initiated by Hubei Dongfeng. The fuel vehicle market is "chaotic", which makes new energy vehicles suffer crit.

As one of the Three Musketeers, a new force in car-making, LI has previously published the 2022 annual report and the first quarterly report in 2023. Although the revenue in 2022 has achieved substantial growth, it is still at a loss.

According to its financial report, "Buer Research" found that in 2022, LI’s revenue was 45.29 billion yuan, a year-on-year increase of 67.7%; In the same period, its net loss was 2.03 billion yuan, up 531.42% year-on-year, making it the most serious year since the listing of US stocks in 2020.

Among them, the ideal automobile sales revenue in 2022 is 44.106 billion yuan, accounting for 97.39% of the total revenue. According to "Buer Research", due to the increase in R&D investment and rising operating costs in 2022, the automobile sales revenue failed to catch up, which led to the further expansion of LI’s net loss.

Under the new energy automobile track, it still takes time to accumulate and reserve funds to transform R&D investment into automobile production capacity.

Although the capital reserve has been expanded after the dual listing, more and more car-making competitors and intensified competition in sub-sectors seem to be shortening the ideal "new" time window.

01 landing in Normandy

In 2015, after leaving office in car home, Li wanted to start a business again, aiming at the field of new energy vehicles. At that time, Tesla was in the limelight, and many Tesla "fans" emerged in China.

Source: LI founder-Li Xiang-LI Guan Wei

Since then, Li Xiang’s brand ideal of new energy vehicles has stood out, and he, together with Weilai Automobile and Xpeng Motors, has been called "Three Musketeers".

In 2019, when the ideal first car, Li ONE, was officially launched, Li Xiang said frankly, "I have been in business for 20 years, and today is my most nervous day, and it is also the Normandy landing day of the company".

In July 2020, above the new energy outlet, it was ideal to land on Nasdaq in the United States, and the IPO was priced at $11.5 per share, with the highest increase of more than 50% on the first day of opening.

On August 12, 2021, LI landed on the Hong Kong Stock Exchange, becoming the second new car-making force to achieve dual listing in Hong Kong stocks after Xpeng Motors.

Although the new energy outlet is still there, the competition of the Three Musketeers, a new force to build cars, is intensifying. Compared with the increasingly full product matrix of Weilai and Tucki, the outside world is quite worried about the ideal car-making pace: the 2020 Li ONE that landed in Normandy has been sold for nearly three years, and the ideal finally got the new 2021 Li ONE.

Source: official website, LI

According to the ideal quarterly report in 2023, its total revenue in the first quarter was 18.79 billion yuan, up 96.5% year-on-year and 6.4% quarter-on-quarter. In the same period, the net profit was 934 million yuan, turning losses into profits. In addition, the ideal annual gross profit margin in the first quarter of 2023 is still declining.

According to "Buer Research", the ideal main revenue source is vehicle sales, and its vehicle sales revenue in the first quarter of 2023 was 18.33 billion yuan, accounting for 97.55% of the total revenue.

The increase in sales revenue in LI is mainly due to the increase in delivery volume in the first quarter and the increase in the average selling price of ideal L series models. In addition, the revenue and delivery have been greatly improved, which has also enabled LI to turn losses into profits.

Entrepreneurship means choosing the path of extended-range technology and relying on an extended-range electric vehicle to conquer the world. The ideal can be described as a different kind among the three musketeers, a new force in building cars. However, the increasingly strict policy supervision is like the sword of Damocles hanging overhead, and it is ideal to make up for the autopilot technology.

Li Xiang once said frankly, "In terms of autonomous driving, compared with Tesla and Tucki, we have to make up lessons." According to the plan, this year’s ideal research and development is continuously invested; In the first quarter, its R&D expenditure was 1.85 billion yuan, up 34.8% year-on-year; In the second quarter, its R&D expenditure was 2.43 billion yuan, a year-on-year increase of 58.4%.

When the market structure of the new force of car-making is initially determined, the competition of new energy vehicles has entered the second half: the sales and mass production targets of 280,000-300,000 vehicles, and the fierce competition of autonomous driving technology.

As a supporter of the "10,000-hour Law", Li Xiang once wrote in Weibo, "I have trained more than 60,000 hours in the automobile industry since 2004, and I am more confident in my major".

It seems that the capital market that votes with its feet is not satisfied with Li Xiang’s "10,000-hour law".

By comparing the PE value (P/E ratio) and the PB value (P/B ratio) of the Three Musketeers, a new car-making force, it was found that by the close of the US stock market on August 12th, EDT, except LI, the PE values of the new car-making force were all negative, with the PB values of Tucki 2.81, Ideal 6.23 and Weilai 7.63 in turn, while the PB value of Tesla was 15.06.

Among the three musketeers, the ideal PB value ranks second, which is about 1/10 of Tesla PB value. The higher the PB value, the higher the valuation of enterprises in the capital market.

As of August 12th, EST, the US stock market closed, with an ideal market value of $42.18 billion, while Tesla’s market value has passed the $700 billion mark.

02 on the new speed.

On May 25th, 2021, Ideality released the 2021 Li ONE in Beijing, which was different from the enthusiastic conference site. The capital market reacted coldly and fell immediately after the opening of the day. Only one day later, it is ideal to announce the financial report for the first quarter of 2021, from profit to loss.

"Li Xiang, you owe an explanation to the owner who picked up the car in April and May." After the release of the 2021 Li ONE, Li Xiang’s Weibo was overwhelmed by the owner’s doubts.

According to the ideal plan, after the production and sales of the 2021 Li ONE model begin, the production of the 2020 model will stop. The car owner who just bought the old model of Li ONE soon felt that he had been "cleared of inventory" by routine. Although it is ideal to provide four paid upgrade schemes for old car owners, it still cannot satisfy the skeptics.

In August of the same year, a similar scene was once again staged in the ideal riders group: the prospectus revealed that the ideal will launch a new full-size SUV in 2022, and compared with the existing products, the size, hardware and intelligent configuration have been improved in many aspects.

Source: LI Guanwei

To some extent, the rapid iteration of new energy vehicles is accelerating the depreciation of the value of the previous generation models. Anxiety, confrontation and other emotions spread between riders waiting for a full-size new car and owners who have already picked up the car.

According to "Buer Research", the innovative technology of new energy vehicles is both a spear and a shield. Compared with traditional cars, the product cycle of new energy vehicles is shorter; How to balance customer perception and product iteration has also become an ideal test.

However, the other side of the coin is the risk brought by the thin product line, and any fluctuation in Li ONE may trigger a chain reaction.

In order to change this situation, it is ideal to replace Li ONE with L8 and L9 from the second half of 2022.

In the fourth quarter of 2022, the ideal delivery volume was 46,319 vehicles, a year-on-year increase of 31.5%; In the same period, Weilai and Tucki delivered 40,052 vehicles and 22,204 vehicles respectively, both of which increased year-on-year.

By the end of 2022, it is ideal to deliver 133,246 vehicles throughout the year, up 47.2% year-on-year; Although it did not reach the expected goal of LI, it was slightly ahead of Weilai Automobile’s 122,486 vehicles and Xpeng Motors’s 120,757 vehicles in terms of the number of deliveries in 2022.

By the end of January this year, LI’s monthly sales even exceeded the combined monthly sales of Weilai Automobile and Xpeng Motors.

In the first quarter of this year, the ideal delivery volume was 52,584 vehicles, a year-on-year increase of 65.8%; The deliveries of Weilai and Tucki in the same period were 31,041 and 18,230 respectively.

The outbreak of black swan is only a small probability event. If compared with the same industry, to some extent, the large data fluctuation of ideal sales revenue is related to its single product structure.

In the view of "Buer Research", in the early stage of starting a business, the 2020 Li ONE solo combat can unite all the superior resources; However, due to the lack of product matrix, ideal is losing its position in the price range, and it is easy to fall into the situation of weak subsequent growth.

Expanding the product matrix is imminent. On August 3 this year, it officially launched the ideal L9 Pro. According to the ideal plan, it is expected to launch the first pure electric vehicle MEGA； by the end of 2023. And in 2024, four new cars will be released, including an extended-range SUV and three pure electric models.

Source: official website, LI

It is not easy to "upgrade" new energy vehicles, and R&D investment is similar to "arms race"; Only from the number of patents and invention patents in 2020, the ideal is relatively backward.

Intelligent driving is the focus of LI’s current layout. This year, the ideal plan is to land the "NOA" function in 100 cities.

At present, LI has successfully opened the urban NOA internal test in Shanghai and Beijing, and completed the first test drive of urban NOA and commuter NOA in Beijing. It is expected that in the third quarter, Ideal will also open the commuting NOA function to "early bird users".

In the view of "Buer Research", when the potential of new energy vehicle track is highlighted, attracting many car-making forces to enter the market, the competition in market segments will become more intense.

Regardless of the technical path, ideally, the time window of the new product matrix is limited, and it is urgent to find a balance between iterative novelty and customer perception.

03 Flag of Li Xiang

In February 2021, Li Xiang said in an internal letter that by 2025, it is ideal to win 20% of the market share and become the first intelligent electric vehicle enterprise in China; In 2030, it will go further and become the first intelligent electric vehicle enterprise in the world.

In the second quarter of this year, Li Xiang set a new Flag: the ideal total sales this year will exceed the target at the beginning of the year by 10%-20%. The ideal target at the beginning of the year is annual sales of 306,000 vehicles, and the adjusted sales volume is expected to be 336,000-366,000 vehicles.

According to the latest data released by Ideal, its delivery volume in the second quarter reached 86,533 vehicles, up 201.6% year-on-year and 65% quarter-on-quarter. And delivered 34,134 vehicles in July.

In terms of production capacity closely related to the delivery volume, the "Buer Research" found that the annual production capacity of the ideal Changzhou factory in 2020 will be about 100,000 vehicles, and the annual production capacity of the factory will increase to 200,000 vehicles after upgrading.

After the release of Q3 financial report in 2022, Shen Yanan, the ideal co-founder and president, announced his resignation. He helped LI choose to build his own factory in Changzhou. This adjustment is regarded as a large-scale change since the establishment of Ideal.

At the ideal second-quarter financial report meeting on August 8, Li Xiang said that at present, due to the influence of supplier supply, the production capacity is in a bottleneck.

Earlier, there were media reports that Ideality was contacting Beijing Hyundai and hoped to receive its first factory that had stopped production. At present, the Beijing base is expected to be officially put into production at the end of this year. In addition, it is reported that the production plan of the ideal third factory, Chongqing production base, has stopped.

According to "Buer Research", if we want to achieve production and sales of 1.6 million vehicles in 2025, we need a strong production capacity reserve. The only Changzhou factory and Beijing factory may not have enough production capacity to carry their delivery demand, so the construction of new factories is imminent.

Previously, compared with the other two new car-making forces, the ideal offline layout was not dominant and is currently accelerating.

By June 30, 2023, LI had operated 331 retail stores covering 127 cities. In addition, LI operates 323 after-sales maintenance centers and authorized car body and painting centers in 223 cities.

When Internet companies such as Baidu and Xiaomi went off to build cars one after another, the war of new energy vehicles intensified. Regarding the cross-border showstopper, Li wants to speak frankly about the car, saying that the car sales can’t be faked, and the final development depends on the final product.

Although LI is speeding up its running, will Li Xiang’s Flag fall down under many skinny realities?

"Ideal" meets the cold reality

Although the ideal delivery volume since 2023 has been leading the new domestic car-making forces, LI still considers 2023 as "Alexander". In particular, the head car companies headed by Tesla started a price war, which caught the industry off guard.

However, as a "hardware for traffic portal, software for charging service", Tesla model seems to bring new imagination space for new energy vehicles.

When the income of Tucki XPILOT software and Weilai NIOPILOT software increased, Li Xiang declared: "The new Li ONE autopilot is standard, and the future ideal will not charge for autopilot".

"With the development of smart cars, there will be more and more usage scenarios for users and more and more business models." Li wants to put his hopes on another possibility of business model innovation, but it needs to be built on the basis of ownership.

Che Gewana once said, let’s be loyal to our ideals and face reality. On the increasingly crowded track, Li wants to be loyal to his ideals, but he also needs to face reality: the day after tomorrow of new energy vehicles is beautiful, and today is very difficult. The key is whether he can survive tomorrow.

Some references in this article:

1. LI, Sorry for the Old Car Owner, Sina Technology.

2. Li Xiang with Ideal, Taber.com.

3. "The listing price of LI and Hong Kong is HK$ 118, which is 21.3% lower than the suggested subscription price", Caixin.com.

5. "LI’s second-quarter earnings revenue increased significantly, and the decline in US stocks reflected investors’ concerns", interface news.

6. Ideal sells crazy, but it can’t relax its vigilance. Connect sight.

　　"Trams sell well, all because of the large fuel tank." Many investors are so ridiculous. Extended-range hybrid vehicles have eliminated consumers’ anxiety about the endurance of pure electric vehicles, and the share price of LI-W (02015.HK) has been hitting record highs, becoming the first component of the Hang Seng Science and Technology Index (HSTECH).

　　However, shortly after Ideal announced the delivery data of nearly 35,000 vehicles in August, the major shareholder Wang Xing couldn’t wait to continue to "sell and sell"; The growth rate of LI’s monthly delivery volume has slowed down significantly; In addition, in the context of the sharp rise in raw material prices, it is also facing more fierce competition in the price war of the whole vehicle. However, LI is determined to develop pure electric products that have suffered heavy bicycle losses.

　　Wang Xing reduced his holdings by nearly 2 million shares.

　　According to information disclosed by HKEx, Wang Xing, CEO of Meituan-W (03690.HK) and non-executive director of LI, reduced his holdings of LI for four consecutive days. From September 12th to 15th, Wang Xing reduced his holdings by 1,947,900 shares, with an average price of HK$ 157.84 to HK$ 160.51, and cashed in more than HK$ 300 million.

　　On September 3rd, LI announced that a total of 34,914 new cars were delivered in August 2023, up 2.28% from the previous month. So far, the cumulative delivery volume of LI in 2023 reached 208,200 vehicles, a year-on-year increase of 176.1%; In July, the delivery volume of 34,134 vehicles was only 4.7% higher than that of the previous month. The company expects that the number of vehicles delivered in the third quarter will be 100,000 to 103,000, a year-on-year increase of 277.0% to 288.3%.

　　Lin Jiayi, general manager of Xuanjia Fund, told the First Financial Reporter that the growth of LI’s monthly sales slowed down sharply, and the chip loosening and callback were predictable from the perspective of fundamental performance prospects, the continuous deterioration of industry competition and the poor liquidity of the capital market with high interest rates. In the dominant business, the space of family scene is limited, and its short moat may not be stable. The possible expansion of pure electric business is a highly competitive market.

　　Huang Xili, an analyst in soochow securities, said that the delivery in August was higher than that in the previous month, and the steady supply and delivery of vehicles and the continuous growth of terminal orders formed a positive cycle. By the end of August, LI had delivered a total of 208,200 vehicles, up 176.1% year-on-year, and its annual performance was worth looking forward to. In addition, the channel network layout has been accelerated and improved, and the terminal efficiency has been continuously improved.

　　On August 18th, Hang Seng Index Co., Ltd. announced the results of the index review. LI’s share in the Hang Seng Science and Technology Index will be reduced from 9.74% to 8%, and its share with six leading Internet companies will be 8%.

　　At present, most pure tram companies are still mired in losses, and some new forces sell a car, with an average loss of tens of thousands of yuan. However, LI, which has turned losses into profits, has to make efforts in this field to "further broaden the user base and open up incremental markets."

　　"The company plans to launch the 5C pure electric super flagship model in the fourth quarter of 2023, the ideal MEGA. The company is confident that the car will become an explosive model of more than RMB500,000. " LI said in the semi-annual report.

　　"In the new stage of parallel operation of extended-range electric and high-voltage pure electricity, we will continue to improve our research and development capabilities in the fields of intelligence and electrification, optimize our products and expand our product matrix. By 2025, our product matrix is expected to include a super flagship model, five extended-range electric vehicles and five high-voltage pure electric vehicles. " The company also said: "We currently have a manufacturing base in Changzhou, China to produce extended-range vehicles, and are building a manufacturing base in Beijing to actively expand production capacity and prepare for the release of pure electric vehicles."

　　Lin Jiayi believes that in recent days, major car companies are also constantly cutting prices, trying to maintain market share. Under this background, LI’s growth space is facing challenges.

　　Huang Xili said that MEGA is expected to be officially released in December this year, exhibited in stores in January 2024, and delivered by users in February. The launch of MEGA will help LI achieve the goal of being the first luxury car brand in China in 2024.

　　Cui Yan, an analyst at Huaxi Securities, believes that LI’s products should be judged not only by price or body form, but also by what kind of demand the products meet, which stems from the ideal understanding of users’ needs and the extensive demand for family cars. The company has great hope to replicate the success of the extended range series in the pure electric product line to gain greater market share.

　　Car companies whose downstream terminal prices are decreasing are also facing the situation that the upstream raw material prices are rising sharply, which will challenge the gross profit margin: within more than three months since the end of May, major industrial products such as copper and aluminum have risen sharply in three months, and the prices of raw materials have risen in an all-round way. In September, Shanghai Aluminum once approached the 20,000 yuan/ton mark, which caused certain cost pressure on auto parts and vehicle enterprises, especially for electric vehicles, and the demand for aluminum was increasing.

William Feng and Zhu Yilong attended the "Know No" conference.

The TV series "Do you know if it should be green, fat, red and thin" was held in Beijing today. The newly-married William Feng people are full of spirits at every happy event. They changed from serious Feng Shu to "Pipifeng", generous and humorous to help "good brother" Zhu Yilong, and contributed many golden sentences. The scene has become his "stand-up comedy" special.

William Feng hugs Zhu Yilong

"Do you know if it should be green, fat and thin?" starring newlyweds Zhao Liying and William Feng. Although the heroine couldn’t attend, William Feng also distributed a lot of "invisible dog food". When talking about his role in the play, Uncle Gu said "sweet": "He will take his wife to eat delicious food, make up his wife, be jealous and have a little mood, and create an atmosphere …" Turning to his rival Zhu Yilong in the play, he asked weakly, "Is it not good to say this in front of you?" Bring laughter to the scene.

When asked about the wisdom of life learned from filming, while shy Zhu Yilong was still thinking, William Feng took the initiative to answer the question: "I’ll answer this! I think Zhu Yilong should have learned a deep lesson. That is, when you like a girl, you must marry her at the first time. Don’t wait! Also, brothers can’t be trusted easily. If you are not active, the opportunity will slip to your brothers. Men must be a little worse. " William Feng also "complained" that the little girls in the play all liked the little grandfather played by Zhu Yilong. "In order to clear up the relationship with me, I followed him and shouted a second uncle … but I was used to it anyway. When I was still very young, my fans called me Feng Shu."

William Feng revealed that although they are rivals in love in the play, they have a good relationship outside the play. Zhu Yilong was shy when he was unfamiliar. "You can not talk from beginning to end after eating a meal." But after getting acquainted, the teacher became more lively and talked about everything. He once took himself to eat chicken, but he failed to learn. William Feng also recalled seeing Zhu Yilong for the first time in the crew. "I like Yi Long very much as soon as I see him. He looks like Tony Leung Chiu Wai [Weibo], so handsome! I took a fancy to him at first sight. But that scene was our tit-for-tat, and the gas field had to be mentioned, so he also promoted the small universe, and I also promoted the small universe, so I stared at each other! " When Zhu Yilong talked about his first impression, he sincerely said: "It was too dark, I didn’t see it clearly …" That led William Feng to "remedy" quickly. "He didn’t wear contact lenses that day!" Also reminded each other in a low voice that "we should flatter each other at this time", Zhu Yilong instantly understood and replied: "Brother Feng is very handsome! My first impression when I saw Feng Ge was that Feng Ge was more handsome than I expected … "

Press conference site (photo by Huang Yuting)

On October 15th, the Information Office of Jiangxi Provincial Government and the Provincial Department of Justice jointly held a press conference on "Improving the Arbitration System and Improving the Arbitration Credibility". Gong Hexing, deputy director of the Provincial Department of Justice, introduced the implementation opinions on improving the arbitration system and improving the credibility of arbitration in our province. Yang Guoan, full-time member of the Judicial Committee of the Provincial Higher People’s Court, Zhou Huaai, vice chairman of the Provincial Federation of Industry and Commerce, Wan Xiu Qi, deputy mayor of Nanchang Municipal People’s Government, and Zhang Zhonglan, director of the Notarization and Arbitration Division of the Provincial Department of Justice, attended the press conference and answered questions from reporters. Li Feng, deputy director of the Foreign Information Office of the Provincial Government Information Office, presided over the press conference.　

Li Feng, Deputy Director of the Foreign Information Office of the Provincial Government Information Office (photo by Huang Yuting)

Li Feng:

Dear journalists and friends,

Good afternoon, everyone. Welcome to the press conference of the Provincial Government Information Office.

Arbitration is an internationally accepted way to solve disputes, and arbitration law is an important law to solve civil and commercial disputes in China. In order to implement the requirements of the Central Committee for arbitration and better promote the healthy development of arbitration in our province, on September 23rd, the General Office of the Provincial Party Committee and the General Office of the Provincial Government issued the Implementation Opinions on Improving the Arbitration System and Improving the Arbitration Credibility (hereinafter referred to as the Implementation Opinions).

This morning, we are very pleased to invite Mr. Gong Hexing, member of the party group and deputy director of the Provincial Department of Justice, Mr. Yang Guoan, full-time member of the Judicial Committee of the Provincial Higher People’s Court, Ms. Zhou Hua Ai, vice chairman of the Provincial Federation of Industry and Commerce, Mr. Wan Xiu Qi, deputy mayor of Nanchang Municipal People’s Government, and Ms. Zhang Zhonglan, director of the Notarization and Arbitration Division of the Provincial Department of Justice, and ask them to introduce the implementation opinions and answer questions from reporters.

Next, please introduce the relevant information to Deputy Director Gong Hexing.

Gong Hexing, Deputy Director of the Provincial Department of Justice (photo by Huang Yuting)

Gong Hexing:

Dear journalists and friends,

Good afternoon everyone!

On August 30, 2019, the Sixth Meeting of the Comprehensive Deepening Reform Committee of the Provincial Party Committee reviewed and passed the "Implementation Opinions of Jiangxi Province on Improving the Arbitration System and Improving the Arbitration Credibility". On September 23, the General Office of the Provincial Party Committee and the General Office of the Provincial Government issued the "Implementation Opinions on Improving the Arbitration System and Improving the Arbitration Credibility" (Gan Ban Zi [2019] No.31, hereinafter referred to as the "Implementation Opinions"), requiring all localities and departments to conscientiously implement it in light of the actual situation. Today, mainly through the influential platform of the provincial government press conference, we briefly introduce the implementation of the central document and the implementation opinions issued by our province to friends in the press.

I. Relevant background and main features of the Implementation Opinions.

Arbitration is an internationally accepted way to solve disputes, and Arbitration Law is an important law to solve civil and commercial disputes in China, which has the institutional advantages of respecting the parties’ autonomy, convenience and efficiency. Arbitration, together with mediation, administrative adjudication, administrative reconsideration and litigation, has become an important part of diversified dispute resolution mechanism. Over the past 25 years since the promulgation of the Arbitration Law, arbitration institutions have closely focused on the work of the party and the state center, consciously served the overall situation of economic and social development, and properly resolved a large number of disputes. By the end of 2018, a total of 255 arbitration committees had been established nationwide, handling more than 2.6 million cases of various types, with a target amount of more than 4 trillion yuan, involving more than 70 countries and regions. The 12 arbitration institutions in our province have accepted more than 14,200 cases of various types, with a bid of 36 billion yuan, which has made important contributions to the economic and social development of our province. However, there are also some problems, such as political affairs are not divided, the management system is not smooth, the internal governance structure is not perfect, the competitiveness is not strong, the supervision and restriction mechanism is not perfect, and the support guarantee is not in place, which affects the credibility of arbitration and restricts the healthy development of arbitration.

The CPC Central Committee and the State Council attached great importance to arbitration. The Fourth Plenary Session of the 18th CPC Central Committee put forward the reform task of "improving the arbitration system and enhancing the credibility of arbitration", and the 19th CPC National Congress put forward to strengthen the construction of mechanisms to prevent and resolve social contradictions, which opened a new journey for the development of arbitration in Socialism with Chinese characteristics. In December last year, the General Offices of the General Office of the Central Committee of the CPC and the State Council issued Several Opinions on Improving the Arbitration System and Improving the Arbitration Credibility (No.76 [2018] of the Central Office, hereinafter referred to as "Several Opinions"), which pointed out the direction for the reform and development of arbitration in the new era and provided fundamental follow-up. In March this year, the National Arbitration Work Conference was held in Shanghai, and the proposal of "China Arbitration 2022" was put forward, which called for improving the arbitration system and enhancing the credibility of arbitration, implementing the arbitration law as the main line, perfecting the arbitration system and mechanism, constantly enriching the arbitration service mode, strengthening the construction of arbitration institutions and talent teams, and comprehensively improving the quality of arbitration.

The main features of our province’s "Implementation Opinions":

The first is to mark the center of the table. Focusing on the requirements of "improving the arbitration system and improving the credibility of arbitration" put forward by the central government, the tasks are decomposed and the measures are refined from the perspectives of implementing the arbitration legal system, improving the work management system, optimizing the governance structure and standardizing the development order of the industry. The second is to emphasize implementation. According to the system design, reform ideas and work requirements put forward in Several Opinions, combined with the actual situation in our province, specific projects are extracted, and the responsible units are determined to implement each item in the Implementation Opinions. The third is to pay attention to work innovation. In view of the fact that the arbitration work in our province has little influence and radiation ability, we should increase overall support and talent support, encourage the arbitration commission to reform and innovate in the system and mechanism, and demand that it be linked with the central and provincial classification to promote the reform of public institutions, which is in line with the spirit of the central government and the development trend of arbitration.

Second, the main contents of the "Implementation Opinions"

The Implementation Opinions consists of six parts, which are divided into 21 tasks and expressed in the logical order of "improving the arbitration system and improving the credibility of arbitration". First of all, improve and implement the arbitration system from two aspects: strictly implementing the arbitration legal system and rationalizing the arbitration management system; Then, we should pay close attention to optimizing the internal governance structure of arbitration institutions, strengthening the construction of arbitration professionals and cleaning up and rectifying the development order of arbitration to promote the credibility of arbitration. In addition, in view of the current situation that the development level of arbitration in our province is not high enough, the influence is small, and the regional radiation is not strong, a special train is set up to require relevant units to increase their support for arbitration work in various directions.

(1) Strictly implement the arbitration legal system. This is the basic point of the system, which strictly guarantees the implementation of the arbitration legal system in our province and strictly regulates the establishment and change of the arbitration commission. Strictly manage the branches of the Arbitration Commission and standardize its establishment procedures. If it is required that the Arbitration Commission and its offices be used as internal organs or subordinate units of administrative organs, the decoupling of people and property shall be completed before the end of this year, and the independent work of the Arbitration Commission shall be guaranteed without interference according to law.

(2) Improve the management system of arbitration. This is the fulcrum of work, and it is clear that we should pay close attention to the establishment of Jiangxi Arbitration Association and strengthen the self-discipline management of the industry. Standardize and strengthen the registration management of arbitration institutions, constantly improve the supervision and management system of arbitration work, and straighten out the responsibilities and authorities of the municipal government, the Municipal Bureau of Justice and the Provincial Department of Justice at all levels. In accordance with the principle of "who sets up, who is responsible and who supervises", the established municipal government performs the main responsibility of supervision, the municipal judicial bureau is entrusted by the municipal government to contact the arbitration work, and the provincial judicial department undertakes the arbitration work assigned by the provincial government, guiding and supervising the relevant localities and departments to do a good job in the implementation of the arbitration law and relevant policies of the central government.

(3) Optimizing the internal governance structure of the Arbitration Commission. This is a difficult point in the reform. We should strengthen the self-construction of the Arbitration Commission and strengthen its status as an independent legal person. Strict composition of the Committee, giving the Committee the right to decide on major issues. Study and implement the organic combination of the independent award of the arbitral tribunal and the management of the committee, improve various internal control systems, strictly implement the challenge system, and implement the systems of reviewing and reading arbitral awards, expert consultation on arbitration cases, and information disclosure of arbitrators to ensure the quality of arbitral awards. We will promote the pilot reform of arbitration institutions in an orderly manner and stimulate the endogenous motivation of offices. According to the requirements of promoting the reform of public institutions by classification, properly resettle the staff in the office, and rationally divert the staff to solve the problem. This work has been strongly supported by relevant departments such as the Provincial People’s Social Welfare Department.

(4) Strengthening the construction of arbitration professionals. This is the highlight of opinions. We should improve the selection and management of arbitrators, promote the professionalization of arbitration secretaries, continuously increase the training of arbitration professionals, build a team of arbitration professionals, improve their professional level, and provide professional support for improving their credibility. The reason why the construction of arbitration team is highlighted is that the development of arbitration depends on the support of talents, which has been approved by the Ministry of Justice.

(5) Increase support for arbitration. This is the focus of career development, strengthen the leadership of the party, and realize the full coverage of the arbitration industry by the party organization by 2020. Fully perform government duties, incorporate the development of arbitration into the local economic and social development and the evaluation system of the government ruled by law, promote arbitration to actively participate in grassroots social governance, ensure that arbitration will be stationed in the three platforms of public legal service entities, hotlines and networks before the end of this year, and ensure that the arbitration commission enjoys independent autonomy in people and property according to law. Improve the linkage mechanism of judicial supervision and increase judicial support for arbitration.

(six) to strengthen supervision and standardize the development order of the industry. Carry out special actions to clean up and rectify the development order of the arbitration industry, strengthen the supervision of employees, give play to the role of social supervision, standardize the development order of the industry, and enhance the social credibility of arbitration.

Dear journalists and friends, Jiangxi Arbitration will firmly grasp the historical opportunity, always adhere to the correct political direction and scientific professional service direction, take safeguarding fairness and justice as the foundation, improve credibility as the starting point, focus on resolving contradictions and disputes, provide high-quality and efficient arbitration services, and help the province’s economy and society develop by leaps and bounds. I sincerely hope that friends in the press will pay more attention to, care for and support the cause of arbitration in our province and help the healthy and orderly development of arbitration in our province.

I’ll stop here. Thank you!

Li Feng:Thank you, Deputy Director Gong Hexing, for your introduction! Let’s enter the question session. Please raise your hand and inform your news organization. Thank you!

Nanchang Radio reporter (photo by Huang Yuting)

Nanchang Radio reporter:We have noticed that the documents of the two offices have clearly defined a principle, that is, "who sets up, who is responsible and who supervises", and the arbitration commission of our province is set up by the municipal government with districts. Article 14 of the Arbitration Law clearly stipulates that "the Arbitration Commission is independent of the administrative organ and has no subordinate relationship with the administrative organ". I would like to ask Vice Mayor Wan Xiu Qi, who is responsible but not responsible. This seems to be a contradiction. Then, how can the government strengthen its support and guidance for the development of arbitration?

Wan Xiu Qi, Vice Mayor of Nanchang Municipal People’s Government (Photo by Huang Yuting)

Wan Xiu odd:Thank you for your question. You are very careful.

This time, the biggest feature of the provincial party Committee document is also the biggest highlight of the reform and development of arbitration in our province, which is to clarify the management system and mechanism of arbitration work. The "Perfecting the Supervision and Management System of Arbitration" in the second point and the fifth point of the document clearly stipulates that the established municipal government shall perform the main responsibility of supervising the arbitration commission; The Municipal Bureau of Justice is entrusted by the municipal government to contact the arbitration work; The Provincial Department of Justice guides and supervises the relevant localities and departments to implement the arbitration law and relevant policies of the central government, and undertakes the relevant arbitration work assigned by the provincial government. Thus, from the external management system level, the responsibilities and authorities of the municipal government, the municipal judicial bureau and the provincial judicial department are straightened out. It has broken the ambiguous management of arbitration institutions in our province for many years.

The arbitration law proposed by a reporter friend stipulates that the arbitration commission is independent of the administrative organ and has no subordinate relationship with the administrative organ, which means that arbitration should be carried out independently according to law without interference from the administrative organ. However, it does not mean that the arbitration institutions established by the government do not need any supervision and control, but should strengthen management and help support from the organization and outside.

In reality, some government functional departments in our province regard the arbitration commission as an internal organization or subordinate unit for a long time because of the origin of the establishment of the arbitration commission, which does not meet the requirements of the arbitration law and the central documents. In this regard, our province’s documents clearly require that any arbitration commission and its offices as internal organs or subordinate units of government departments should complete the decoupling of people and property before the end of this year. As a provincial capital city, Nanchang will take the lead in implementing the spirit of the documents of the Central Committee and the Provincial Party Committee, support and guarantee the autonomy of the Arbitration Commission in personnel, finance, salary system, etc., and give full play to the role of the Arbitration Commission in the diversified dispute resolution mechanism. In addition, the provincial party Committee documents also comprehensively sort out the responsibilities and support obligations that the government should bear in promoting the development of arbitration.

Jiangxi Internet reporter (photo by Huang Yuting)

Jiangxi Internet reporter:Arbitration, as a main legal system to solve civil and commercial disputes besides litigation in people’s courts, has become an important part of diversified dispute resolution mechanism. At the same time, judicial review of arbitration is an important content of arbitration laws in various countries and an important part of the design of arbitration top-level system. Excuse me, Yang Special Committee, how will the courts in our province strengthen the supervision and support of arbitration?

Yang Guoan, a full-time member of the Judicial Committee of the Provincial Higher People’s Court (photo by Huang Yuting)

Yang Guoan:Judicial review of arbitration in China includes support and supervision. In recent years, in accordance with the overall arrangement of the Fourth Plenary Session of the 18th CPC Central Committee "improving the arbitration system and enhancing the credibility of arbitration" and a number of judicial interpretations and normative documents issued by the Supreme People’s Court, courts in our province have properly handled arbitration judicial review cases and executed arbitration award cases in accordance with the law, made efforts to create an arbitration-friendly judicial supervision environment, increased support for arbitration, standardized the people’s courts’ exercise of arbitration judicial review power, and guaranteed and promoted the improvement of arbitration credibility. The main measures are as follows: First, the courts in the province earnestly implement the relevant judicial interpretation requirements, pay equal attention to support and supervision, encourage and standardize peers, support the arbitral awards made according to law, and provide strong judicial guarantee for improving the quality of arbitration. The second is to standardize the judicial review of arbitration and unify the judicial review standards of court arbitration in the province. Therefore, on the basis of investigation, our institute has formulated and promulgated the Guidelines for the Trial of Arbitration Judicial Review Cases of Jiangxi Higher People’s Court, which requires the courts in the whole province to conscientiously implement it, further tighten the arbitration judicial review procedures, and ensure the quality of arbitration judicial review cases. The third is to actively build an exchange platform and improve the docking mechanism of litigation and adjudication. At present, we are coordinating with the Provincial Department of Justice to jointly issue relevant guiding opinions on establishing the linkage mechanism between litigation and arbitration in our province in a timely manner. I believe that the promulgation of opinions will continuously improve the judicial review mechanism of arbitration in our province and further promote the development of arbitration in Jiangxi.

China Jiangxi Network reporter (photo by Huang Yuting)

China Jiangxi Network reporter:As we know, the arbitration system originated in Europe, and the earliest arbitration institution was the product of the activities of the chamber of commerce in the 19th century. After the introduction of arbitration system in China, the biggest contradiction and dispute solved is also in the commercial field. Practice has also proved that the arbitration system has played a very important role in the development of China’s commerce. Excuse me, Vice Chairman Zhou Huaai, how will the business circles in our province play the role of arbitration in commercial disputes?

Zhou Huaai, Vice Chairman of the Provincial Federation of Industry and Commerce (photo by Huang Yuting)

Zhou Huaai:Thank you for your question. You have a comprehensive understanding of the context of the civil and commercial arbitration system. Indeed, as early as ancient Greece in Europe, the arbitrator system has been used by Mediterranean coastal city-states and ports to solve commercial and maritime disputes, and even disputes between city-states It is basically after entering the stage of free market economy that the state recognizes and regulates arbitration in legal form. China has introduced the civil and commercial arbitration system since the 1990s. Before that, it was basically an administrative ruling with a strong administrative color. On August 31, 1994, the Ninth Session of the Eighth the NPC Standing Committee deliberated and passed the People’s Republic of China (PRC) Arbitration Law, which came into effect on September 1, 1995. This marked the formal establishment and operation of China’s modern civil and commercial arbitration system, and legally entrusted the Chamber of Commerce with the responsibility of participating in the establishment of arbitration institutions. For more than 20 years, arbitration has played an important role in solving commercial disputes, creating a good business environment, helping Chinese enterprises to go global and participate in international competition. The promulgation of the provincial party Committee document is an important and favorable thing for the business community in our province, and the business community will conscientiously implement the spirit of the document. First, actively participate in the formation of the arbitration commission, increase the proportion of business people in the members of the arbitration commission, and actively contribute to the construction of institutions and organizations. This is the right and obligation given to the Chamber of Commerce by the Arbitration Law. The second is to participate in the preparation and establishment of the Arbitration Association of our province. Encourage organizations and individuals of the Chamber of Commerce to actively apply to join the association and become members, so as to contribute to the construction of self-discipline mechanism in the arbitration industry.Third, strive to train more business people as arbitrators, and constantly improve and expand the intellectual structure of arbitrators.

Phoenix Net reporter (photo by Huang Yuting)

Phoenix Network reporter:We have noticed that there is a voice that there is profit-seeking and disorderly competition in arbitration institutions, and there are cases of expanding business, setting up branches at will and vying for the source of the case. May I ask Deputy Director Gong Hexing whether this document has any countermeasures against this disorderly competition, and how to do it specifically?

Gong Hexing:Thank you for your questions. With the development of arbitration for decades, it is true that branches are set up at will to expand their business. In view of this situation, the documents of the two offices have made specific and comprehensive arrangements. First, in the first paragraph, it is clear that the establishment of branches is strict, and the filing and reporting of the establishment of institutions are standardized according to law. The Arbitration Commission may, according to the needs of its work, decide to set up branches or agencies within its jurisdiction and report to the Provincial Department of Justice. If it is really necessary to set up outside the jurisdiction due to special circumstances, it must be approved by the municipal government where the Arbitration Commission is located and where it is established, and reported to the Provincial Department of Justice. The second is to deploy and carry out a special campaign to clean up and rectify the development order of arbitration. Regarding the specific requirements of the "seven prohibitions" put forward in the central document, it is clear that the established municipal government will bear the main responsibility for cleaning up and rectifying, and the Provincial Department of Justice will organize inspection and acceptance of the clean-up and rectification work in various places one by one, and the institutions that fail to pass the acceptance or violate the arbitration law and the provisions of Several Opinions in the future will be corrected according to the law. The third is to further play the role of social supervision. The Arbitration Commission is required to take the initiative to accept media and social supervision, and disclose the articles of association, arbitration rules, service processes, charging standards, annual work reports and financial budget and final accounts reports in a timely manner. In the next step, we will strengthen the construction of the credit system in the arbitration industry and establish a joint disciplinary system for arbitration institutions with malicious competition.

New Legal News reporter (photo by Huang Yuting)

New Legal News reporter:On December 31st last year, the Central Office and the State Council issued Several Opinions on Improving the Arbitration System and Improving the Arbitration Credibility. May I ask Director Zhang Zhonglan what are the key measures proposed by the central government to "reform and improve the internal governance structure of the Arbitration Commission" in the Implementation Opinions issued by our province?

Zhang Zhonglan, Director of the Notarization and Arbitration Division of the Provincial Department of Justice (photo by Huang Yuting)

Zhang Zhongyu:According to the different situations and existing problems of 12 arbitration institutions in our province, the Implementation Opinions put forward corresponding countermeasures from three aspects:

First, strengthen the self-construction of the Arbitration Commission. Improve the internal management system with the articles of association as the core, and strengthen the legal person status of the arbitration commission. Members of the Committee shall be selected and re-elected in strict accordance with the law, and the arbitration development plan, annual work report and financial budget and final accounts report shall be examined and approved in accordance with the articles of association, and candidates for directors, deputy directors, members and heads of executing agencies shall be elected, and major issues such as salary management and performance appraisal scheme shall be determined. Improve the rules of procedure of the Arbitration Commission, and strengthen the duties of the members of the Commission.

The second is to promote the pilot reform of the Arbitration Commission. Actively and steadily promote the reform of the internal management system of the Arbitration Commission, give the Arbitration Commission autonomy in personnel, finance and salary system, and gradually take the road of specialization and professionalization of the staff of the office. Encourage the committees with the nature of public institutions to reform the management system and operation mechanism first, and be consistent with the requirements of the central and provincial classification to promote the reform of public institutions. If the arbitration fee is converted into business service fee, it shall be implemented according to the general rules of enterprise finance and subject to supervision by the departments of finance, auditing, taxation and price. It is clear that the Arbitration Commission should set up an arbitration career development fund. Properly arrange the staff in the office. If the original staff members do not want to stay in the Arbitration Commission, they may, according to their personal status and the nature of preparation, be arranged by the municipal government to return to the corresponding units at the same level according to relevant regulations before the restructuring.

The third is to improve the internal supervision system of the Arbitration Commission. Study and implement the organic combination of the independent award of the arbitration tribunal and the management of the arbitration commission, and improve various internal control systems. Establish a supervision and restriction mechanism for members to serve as arbitrators, and strictly implement the withdrawal system. Establish an arbitration commission’s review system for arbitral awards, an expert consultation system for major and difficult cases, and implement an arbitrator’s information disclosure system to ensure the quality of arbitral awards.

Li Feng:Because of the time, today’s question-and-answer session ends here. Thank you, leaders, journalists and friends. Welcome to continue to pay attention to the construction of arbitration system. The Provincial Department of Justice has compiled news materials, and journalists and friends are welcome to download and view them. If you have any questions, you can consult, communicate or interview after the meeting.

Today’s press conference is over, thank you.

　　Beijing, March 12 (Reporter Shangguan Yun) A bright moon often entrusts people with good wishes and thoughts. Recently, topics related to the "Super Moon" have been on the hot search for many times, and astronomy enthusiasts have chosen the right time and place to observe and feast their eyes.

　　In fact, the "super moon" is an astronomical phenomenon that everyone has paid more attention to in recent years. So, what is a "super moon"? When does it usually appear? How can people observe?

　　Conditions for the formation of "super moon"

　　To form a "super moon", two basic conditions need to be met, one is "nearest" and the other is "roundest".

　　Data Map: On March 9, the night of February 16, the Lunar Year of the Rat, Beijing, before the arrival of the "Super Moon", a full moon rose, reflecting the street lights in the community. China News Service reporter Sun Zifa photo

　　"The orbit of the moon around the earth is elliptical, with the closest perigee and the farthest apogee." Yuan Fengfang, director of popular science at Xinglong Observation Base of National Astronomical Observatory of Chinese Academy of Sciences, explained.

　　She said that "super moon" means that the moon is at the perigee when it is at the full moon. At this time, when the moon comes to perigee, it looks bigger than usual because it is close to the earth.

　　"February 19, 2019 is the Lantern Festival in China, which happens to be ‘ Super moon ’ 。” Yuan Fengfang said, "The super full moon meets with our traditional festivals, which is more ornamental and attracts public attention."

　　How to watch "Super Moon"?

　　To watch the super moon, strictly speaking, you can choose to observe it when the moon-earth-sun is closest to a straight line in sequence. To put it simply, on the night when the "super moon" appeared, it can be observed anywhere as long as it is sunny or in partly cloudy.

　　Data Map: On the evening of March 10th, "Super Moon" appeared in Beijing. China News Service reporter Futian photo

　　Yuan Fengfang introduced a set of data. At 10: 35 am on April 8, Beijing time, the moon, the earth and the sun were almost in a straight line, and the moon was the most round at this time; At 2: 08 am on April 8, Beijing time, the moon reached perigee.

　　She said that it is suitable for observation from the evening of April 7 to the morning of the 8 th. You can shoot a moon at 2: 08 am on April 8 and before sunrise.

　　"In fact, we can appreciate it with our eyes ‘ Super moon ’ You can also use ordinary binoculars or monoculars, or even SLR and telephoto lenses. " Yuan Fengfang explained that "super moon" is a very common astronomical phenomenon. "We can see the full moon every month, can’t we?"

　　Appear no more than 4 times a year.

　　Earlier, some media reported that astronomical experts said that the "super moon" mostly happened on the 15th and 16th lunar months, and it will be staged four times in the Year of the Rat in the lunar calendar, and the time will be on February 9th, March 10th, April 8th and May 7th respectively.

　　“‘ Super moon ’ In fact, it is only a very common phenomenon. The period between the moon’s arrival at perigee takes 27.55 days, and the period between two full moons is the full moon, which takes 29.27-29.83 days. " Yuan Fengfang said.

　　There is a small time difference between the above two periods. Yuan Fengfang said that it is precisely because of the difference in the length of the cycle that there are no more than four "super moons" every year.

　　Data Map: "Super Moon" appeared in Beijing. China News Service reporter Mao Jianjun photo

　　Interestingly, Yuan Fengfang mentioned that the perigee of the moon on April 8 was about 500 kilometers closer to the earth than the perigee on March 10. Therefore, the "super moon" on April 8 will be a little bigger (about 0.1%), but it is difficult for the naked eye to see the difference in size.

　　Interesting "Minimum Moon"

　　It is worth noting that there are not only "Super Moon" but also "Minimum Moon", and some netizens jokingly call it "Super Little Moon".

　　The so-called "minimum moon", that is to say, when the moon is full moon, it just runs near the apogee.

　　"The only time in 2020 ‘ The smallest moon ’ , on October 31. " Yuan Fengfang suggested that interested people can take pictures of the "Super Moon" and the "Minimum Moon" in the same place and use the same set of shooting equipment, and then make a comparison. This is an astronomical observation that the general public can do. (End)

On August 28th, Shang Tang Group released the semi-annual report for 2023, achieving an operating income of 1.433 billion yuan in the first half of the year, up 1.3% year-on-year; The net loss narrowed by 2% compared with the same period of last year, and the adjusted net loss narrowed by 6.7%.

The financial report shows that the Group’s revenue related to generative AI has achieved a strong growth of three digits thanks to the release of the "day-by-day" big model system during the reporting period, and the generative AI product series such as "Consultation SenseChat", "Second Picture SenseMirage" and "Shadow SenseAvatar". According to the latest news, Shang Tang’s "growing day by day" big model has passed the Interim Measures for the Management of Generative Artificial Intelligence Services for the record, and Shang Tang’s "Consultation SenseChat" has been officially opened to the whole society.

Shang Tang said that while increasing investment in R&D of large-scale models, the Group still adhered to the operating goal of continuously reducing losses. Combined with the management requirements of cost reduction implemented since 2022, its AI commercialization efficiency improved, and the current operating cost decreased by 6.5% year-on-year.

Shang Tang’s capital reserve is still sufficient. By the end of the reporting period, Shang Tang held a total of 14.82 billion yuan in bank deposits, cash in hand, structured deposits, bonds and other fixed-income products.

The iteration of large-scale model technology is accelerated to consolidate the core competitiveness of AI.

Since the end of 2022, the generative AI model has been on the rise, and the world’s major technology giants are rushing into the big model track, intending to get a slice of this promising market.

IDC predicts that in 2026, the AI big model market in China will reach 21.1 billion US dollars, and nearly 50% of the terminal devices in China market will have AI engine technology.

In April, 2023, Shang Tang’s "Consultation SenseChat1.0" was released, which is one of the earliest chat robot products based on the large language model with hundreds of billions of parameters in China.Only two months later, Shang Tang, together with a number of top domestic scientific research institutions, released the first basic model InternLM with comprehensive performance exceeding GPT-3.5-turbo in China. On this basis, "Consultation" quickly iterated to version 2.0.

In August, the new model InternLM-123B completed the training, and ranked second in the world in terms of test scores on a total of 300,000 questions in 51 well-known evaluation sets around the world.For example, in five evaluation sets on reading comprehension, the scores of InternLM-123B are all higher than those of GPT-3.5-turbo and the LLaMA2-70B model newly released by Meta, and the scores of individual test sets differ by nearly 20 points.

It is reported that InternLM-123B focuses on upgrading the code interpreter and plug-in calling ability. python interpreter, API calling and search can be used to solve complex tasks and flexibly build AI agent applications. Due to the remarkable improvement of the new model, it is expected that "Consultation SenseChat" will be upgraded to version 3.0 in September.

In addition to the big language model, Shang Tang is also committed to training the world’s top three models of Wensheng Map. As early as January, Shang Tang’s second painting 1.0 started the internal test, and a second-dimensional picture can be generated by inputting prompts; In April, the second painting was upgraded to 2.0 and officially released; In July, version 3.0 of Seconds Painting adopted a brand-new generation model architecture, which can realize professional photography-level picture detail description, and its core algorithm surpassed Google’s Imagen and OpenAI’s DALL·E2 on COCObenchmark.

With the iteration of Shang Tang’s second painting from 1.0 to 3.0, its model parameters increased from the initial 800 million to 7 billion. Version 4.0 is expected to be launched in the third quarter of 2023, and new aesthetic system support will be introduced.

The iteration speed of Shang Tang AI model is extraordinary, which is due to the support of the computing infrastructure behind it. Since 2023, in order to maintain its core competitiveness, Shang Tang has continuously upgraded SenseCore, an intelligent computing infrastructure. The number of online GPUs has increased from 27,000 at the end of March 2023 to about 30,000 recently, and the computing power scale has increased by 20% to 6ExaFLOPS.

Since 2023, more than 1,000 large models with parameters ranging from billions to hundreds of billions have been trained on Shang Tang AI equipment, which has achieved technological iteration leading the industry and supported dozens of generative AI applications.

It should be said that the maturity of any AI technology is by no means achieved overnight. Behind Shang Tang’s big model is the "miracle" of deep learning algorithm, computing power improvement and data accumulation, and deep cultivation for several years.

According to the AI Big Model Market Research Report (2023) published by Jost Sullivan, Shang Tang ranks first in China in terms of comprehensive competitiveness in product technology, strategic vision and ecological opening-up construction.

Release the commercial potential of big model and accelerate the optimization of business structure

When people talk about the big AI model, most of the time they are feeling the impact and subversion it brings to all walks of life, but few people think that the commercial landing of the big model will come so quickly.

The industry has been growing crazily for half a year, and it has completed the transformation from "Hundred Models Battle" when running into the market to thinking about putting technology into practice. Industry analysts believe that with the rise of basic model and tool layer, the cost and difficulty of building applications will be greatly reduced. For application developers, all downstream applications are worth reconstructing.

The observation of AI trend in the era of big model points out that vertical domain application is the main battlefield of big model. With the rapid development of generative AI technology, it has spawned brand-new commercial value in many fields. Although these models are in the early stage of expansion, they also show excellent capabilities. Like other disruptive technologies, this change will develop slowly at first, and then accelerate rapidly.

A ready-made case is that in Shang Tang’s interim report, this change is gradually emerging.

In the first half of 2023, Shang Tang’s revenue related to generative AI recorded a year-on-year growth of 670.4%, and its contribution to the Group’s business increased rapidly from 10.4% in 2022 to 20.3%.Large-scale model has become an important driving force to upgrade the business of Shang Tang.

It is understood that Shang Tang released a series of generative AI products in April, which is one of the earliest enterprises in China to release related products, including Consultation, Secondhand Painting, Ruying, Qiongyu and Gewu, respectively corresponding to the five mainstream generative AI application landing scenarios: natural language interaction, AI Wen Sheng Tu, digital people, 3D big scene reconstruction and 3D small object generation.

The landing and maturity of AI big model not only accelerates the transformation and optimization of Shang Tang’s own business structure, but also shows the potential of more business application scenarios.

Reflected in the business level, at present, Shang Tang’s main businesses are divided into four major sectors, namely, smart business, smart life, smart cars and smart cities. During the reporting period, Shang Tang actively promoted the commercial application of AI technology and helped customers to quickly iterate new products based on large models, with remarkable results.

Among them,Driven by the big AI model, the revenue of the smart business sector increased by 50.2% year-on-year to 854 million yuan, the revenue proportion increased by 19.4 percentage points to 59.6%, the number of service customers reached 481, and the revenue of single customers increased by 59.9%.For example, in cooperation with domestic head insurance companies, Shang Tang provided cross-validation of crop underwriting data based on AI remote sensing model, which helped to improve the risk assessment and claims service system. Compared with the traditional manual identification scheme, the efficiency was improved by 60 times.

The tentacles of the smart life business extend to the C-end. In cooperation with customers in different fields such as e-commerce, traditional media and community platforms, Shang Tang’s AI products such as consultation, second painting, shadow and grid objects all come in handy. From digital life to high-precision 3D object modeling ability, Shang Tang’s technical strength can be intuitively presented to C-end users. During the reporting period, the revenue of this business increased by 6.7% year-on-year to 312 million yuan, the proportion of revenue increased to 21.8%, and the number of customers increased by 47.5% year-on-year.

Besides,The revenues of smart cities and smart cars are 184 million yuan and 84 million yuan respectively.Among them, the mass production business of Jueying achieved a year-on-year growth of 573%, and the number of mass production deliveries reached 390,000 vehicles, driving the gross profit of bicycles to increase by 29%. In terms of intelligent experience, Shang Tang built an intelligent assistant in the cabin based on "Consultation" and launched a number of interactive products in Chinese in the cabin. In the first half of the year, the number of smart car customers of the company increased by 70% year-on-year to 34. With the continuous transformation of its cutting-edge technology, the business income is expected to show a rapid growth trend.

Guolian Securities Research Report believes that the AI big model opens the second growth curve in Shang Tang, Shang Tang is in the leading position in R&D investment and business scale, and it is also the first manufacturer in China to lay out the AI big model. The company has accumulated rich technology and application experience in the AI field, which is expected to take the lead in the AI 2.0 era and promote the further growth of the company’s performance.

It is worth mentioning that,Previously, Shang Tang United many countries.bestThe model InternLM-7B, with a parameter of 7 billion, released by scientific research institutions, has opened some of its training data, training codes and basic model weights to academia and industry for free, and supports commercialization.

On August 31st, Shang Tang expanded its opening authority again, and announced that the large-scale model application "Consultation SenseChat" will be fully opened to users from now on, which is one of the first domestic large-scale models successfully filed and approved to go online.