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.

Nearly 950 days after Lei Jun announced that he would "put all his reputation on the line", Xiaomi Automobile finally arrived.

On November 15th, the Ministry of Industry and Information Technology publicized the declaration list of the 377th batch of new products in the Announcement of Road Motor Vehicle Manufacturers and Products, among which two pure electric cars with Xiaomi brand appeared.

According to the public information, the models of the two Xiaomi brand cars are SU7 and SU7 Max/Pro respectively. In terms of size, the length, width and height are 4997mm, 1963mm and 1455mm, respectively, and the wheelbase is 3000mm, so they are positioned as C-class cars.

In terms of power battery, SU7 is equipped with BYD’s lithium iron phosphate battery, while SU7 Max/Pro is equipped with Contemporary Amperex Technology Co., Limited’s ternary lithium battery; As for the motor, the motor on SU7 comes from United Automotive Electronics Co., Ltd., and the peak power of the driving motor is 220kW, while the motor on SU7 Max/Pro comes from Suzhou Huichuan United Power System Co., Ltd., and there are two power options: 220kW and 275kW.

According to the information disclosed by the Ministry of Industry and Information Technology, the production address of Xiaomi Automobile is "No.21 Courtyard, Huanjing Road, Beijing Economic and Technological Development Zone". It is also reported that Xiaomi’s automobile factory in Yizhuang, Beijing is under construction. The construction of the project is divided into two stages. The first stage began in April 2022 and has begun to take shape. According to Xiaomi’s previous plan, Xiaomi Automobile will be listed in the first half of next year.

The official announcement of Xiaomi Automobile is more exciting than rice noodles in the secondary market. As early as two months ago, the concept of Xiaomi Automobile OEM was heated up by the market. In early November, the news that BAIC Group executives were photographed by the media to attend the closed meeting in Xiaomi Science Park added new evidence to the "rumor that BAIC OEM Xiaomi Automobile", but from the current point of view, Xiaomi Automobile did not choose the direction of OEM.

Although the trademark of Xiaomi’s new car is "Xiaomi Brand", the name of the declared enterprise is Beijing Automotive Group Off-road Vehicle Co., Ltd.. In this regard, industry insiders said that Xiaomi may not solve the problem of production qualification for the time being, and needs the production qualification provided by BAIC. To obtain production qualification, it generally depends on acquiring other automobile brands or taking the OEM route, or obtaining qualification through self-built factories. Xiaomi chooses the latter, which takes a certain amount of time and process, but the products should seize the window period to grab the market, so Xiaomi may continue to apply for independent qualification while using BAIC’s qualification for production.

After Xiaomi’s official announcement on November 15th, Beiqi Blue Valley, the concept of Xiaomi’s OEM, also opened higher and went lower on the 16th, closing up slightly by 0.27%. However, the Xiaomi automobile industry chain has ushered in a collective carnival. According to media reports, insiders revealed that Lei Jun set a sales target of 100,000 vehicles for Xiaomi automobile in 2024 and delivered a total of 900,000 vehicles in the next three years. Such a considerable sales scale naturally brings direct benefits to enterprises in the Xiaomi automobile industry chain, and the capital market has turned to pay more attention to Xiaomi automobile industry chain enterprises.

On the 16th, Jiayun Technology, which cooperated with Xiaomi in marketing, and the co-creation data of smart camera products which cooperated with Xiaomi Eco-chain Enterprise (Chuangmi Technology) all had a daily limit of 20cm, and Yinbaoshan, which provided structural products for Xiaomi, had a new daily limit, while companies that directly provided parts for Xiaomi’s car-making were mixed. According to public information, Titanium Media App has sorted out the list of some enterprises related to Xiaomi automobile industry chain:

Kaizhong stock (603037.SH)

11

Month 1

six

Daily rise and fall: 1

0.00%

Latest market value: 3

5.82

a hundred million

The company is mainly engaged in the design, R&D, production and sales of shock-absorbing components of automobile chassis suspension system and lightweight pedal assembly of control system, as well as the R&D, production and sales of special polyurethane elastomers such as high-performance polyurethane load-bearing wheels in the field of non-automobile parts.

The company’s vibration damping products have synchronous development business with Xiaomi Automobile, and the online control dynamic product field invested by the company has synchronous development business with Xiaomi Automobile.

Aotejia (002239.SZ)

11

Month 1

six

Daily rise and fall:

10.07%

Latest market value: 9

9.24

a hundred million

The company is mainly engaged in the research, development, production and sales of various automobile air-conditioning compressors and automobile air-conditioning systems.

In September 2023, Aotejia said on the interactive platform that Xiaomi Automobile is a company customer, and according to the current fixed-point situation, it is expected to provide automotive thermal management products to this customer.

Pengling shares (300375.SZ)

11

Month 1

six

Daily rise and fall:

7.22%

Latest market value:

49.33

a hundred million

The company is an automobile parts supporting enterprise integrating design, research and development, production and sales. The main products are automobile fluid pipes and sealing parts.

The company said that it will provide fluid pipeline products for Xiaomi Automobile.

Yachuang Electronic (301099.SZ)

11

Month 1

six

Daily rise and fall:

6.60%

Latest market value:

45.88

a hundred million

Authorized distributor of electronic components, the specific products include photoelectric devices, memory chips, passive components and discrete semiconductors, etc. The products are mainly used in the field of automotive electronics.

The company said that it has indirectly carried out business cooperation with Xiaomi Automobile, and it is now in a small batch stage.

Liyuan Information (300184.SZ)

11

Month 1

six

Daily rise and fall:

-5.69%

Latest market value:

80.32

a hundred million

Mainly engaged in the promotion, sales and application services of IC and other electronic components.

The products of ROHM (Roma), JAE (Avionics) LUMILEDS (Lumens), KDS (Vacuum), ST (Italian), ON (On) are directly and indirectly supplied to Xiaomi and its foundries, which are mainly used in various terminal products of Xiaomi. For Xiaomi Automobile, at present, the company only carries out pre-sample delivery and small supply, and the company will continue to pay attention to the cooperation with Xiaomi Automobile.

Faw fuwei (600742.SH)

11

Month 1

six

Daily rise and fall:

1.08%

Latest market value:

76.31

a hundred million

Products include the design, research and development, manufacture and sales of automobile parts such as automobile seats, instrument panels, door panels, seat frames, bumpers, grilles, rearview mirrors, auto filter, automobile lighting devices, automobile stamping products, wheel assemblies, automobile electronics, etc.

The company said that a number of molecular companies have entered the purchasing group of Xiaomi Automobile, but they have not obtained the mass production business of Xiaomi Automobile.

Weifu Hi-Tech (000581.SZ)

11

Month 1

six

Daily rise and fall:

0.25%

Latest market value:

163.12

a hundred million

The main business products are diesel fuel injection system products, automobile exhaust aftertreatment system products and intake system products.

The company indirectly shares the enterprise United Automotive Electronics Co., Ltd. as the supplier of Xiaomi automobile engine.

Wanxiang Qian Chao (000559.SZ)

11

Month 1

six

Daily rise and fall:

0.18%

Latest market value:

181.71

a hundred million

Specializing in the production of chassis and suspension system, automobile braking system, automobile transmission system, automobile fuel exhaust system, hub unit, bearings, precision parts, construction machinery parts and other automobile system parts and assemblies.

The company said that the fast drive shaft products have been supplied to Xiaomi Automobile.

Huayu automobile (600741.SH)

11

Month 1

six

Daily rise and fall:

-0.40%

Latest market value:

548.89

a hundred million

The main business covers automobile interior and exterior accessories, metal forming and molds, functional parts, electronic and electrical parts, hot working parts, new energy sources, etc.

The company’s products have been partially supplied by Xiaomi automobile related models.

Yin Lun stock (002126.SZ)

11

Month 1

six

Daily rise and fall:

-0.66%

Latest market value:

143.99

a hundred million

Specializing in research and development, manufacturing and sales of various heat exchangers and tail gas aftertreatment products.

In October 2023, when asked whether it had business dealings with Xiaomi Automobile, the company indicated that it had obtained several orders for thermal management products from customers.

Jin Rong Tian Yu (300988.SZ)

11

Month 1

six

Daily rise and fall:

0.13%

Latest market value:

32.76

a hundred million

Focus on technology research and development, manufacturing and product sales of precision metal parts and new energy storage products in the whole industry chain.

In September 2023, the company said on the interactive platform that it had obtained the supporting business of new energy vehicle products such as Xiaomi in the field of new energy vehicles.

The supplier of lithium iron phosphate battery for Xiaomi Automobile is Foday Battery, a wholly-owned holding company of BYD.

Huichuan Technology (300124.SZ)

11

Month 1

six

Daily ups and downs:-

1.10%

Latest market value:

1627

a hundred million

Specializing in industrial automation and new energy related products research and development, production and sales.

Xiaomi automobile engine suppliers include Suzhou Huichuan United Power System Co., Ltd., a holding subsidiary of the company.

Shangluo Electronic (300975.SZ)

11

Month 1

six

Daily rise and fall:

6.50%

Latest market value:

57.87

a hundred million

Mainly for electronic product manufacturers in network communication, consumer electronics, automotive electronics, industrial control and other application fields, providing them with electronic components.

At present, the company indirectly supplies electronic components such as resistance-capacitance sensor, diode and power chip to Xiaomi automobile through Tier1 supplier.

Aerospace Zhizao (300446.SZ)

11

Month 1

six

Daily ups and downs:-

4.52%

Latest market value:

126.53

a hundred million

The main business includes the production and sales of information anti-counterfeiting materials, electronic functional materials and fine chemical materials.

On July 22, 2023, the company said on the interactive platform that its subsidiary Aerospace Molding has successfully entered the supplier system of Xiaomi Automobile and carried out collaborative design of interior and exterior decoration products, and some products have obtained mass production orders.

Haiteko

(

301022.SZ

)

11

Month 1

six

Daily fluctuation: 3.60%

Latest market value: 2.702 billion

Mainly engaged in research and development, design, manufacture and sales of injection molds and plastic parts.

Haitaike said on the interactive platform that the company’s automobile injection mold has been applied to new energy vehicles such as Xiaomi.

Xingyuan zhuomei

(

301398.SZ

)

one

one

Month 1

six

Daily rise and fall

：

-4.04%

Latest market value:

4.842 billion

Xingyuan company has a very mature process system in automobile cylinder, bracket mold, gasoline engine cylinder mold and aluminum radiator mold.

According to the records of the company’s investor relations activities in January 2023, the major domestic new energy vehicle brands under development and expansion include Xiaomi Automobile.

Electrical alloy

（300697.SZ）

11

Month 1

six

Daily fluctuation: 1.96%

Latest market value: 38.17

a hundred million

The main business is the research and development, production and sales of copper and copper alloy products. The main products are divided into electrified railway catenary series products and copper bus series products.

The semi-annual report of 2023 shows that the high-voltage connectors produced by the company are indirectly used in Xiaomi Automobile.

Xiangxin technology

(

002965.SZ

)

11

Month 1

six

Daily fluctuation: -0.95%

Latest market value: 8.351 billion

Specializing in research and development, production and sales of precision stamping dies and metal structural parts.

The company said that it has established a cooperative relationship with Xiaomi Automobile.

Molding technology

(

000700.SZ

)

11

Month 1

six

Daily fluctuation: 3.20%

Latest market value: 8.005 billion

Mainly engaged in the production and sales of car bumpers, rubbing strips and other automotive decorative parts.

BAIC Molding, the company’s shareholding enterprise, is a supplier of Xiaomi automobile.

Demaishi

(

301007.SZ

)

11

Month 1

six

Daily rise and fall:

-1.17%

Latest market value: 2.984 billion

Our main business is research and development, production and sales of precision shafts and precision cutting parts.

The company said that the company’s products are not directly supplied to Xiaomi Automobile, but a directional screw produced by the company was finally used in Xiaomi Automobile.

BYD (002594.SZ)

11

Month 1

six

Daily ups and downs:-

0.14%

Latest market value:

6937

a hundred million

The layout covers the fields of automobiles, batteries, electronics, new energy and rail transit.

The supplier of lithium iron phosphate battery for Xiaomi Automobile is Foday Battery, a wholly-owned holding company of BYD.

Contemporary Amperex Technology Co., Limited (300750.SZ)

11

Month 1

six

Daily ups and downs:-

1.81%

Latest market value:

7967

a hundred million

Focus on the research and development, production and sales of power battery systems and energy storage systems for new energy vehicles.

The company supplies ternary lithium-ion batteries for Xiaomi Automobile.

(Author | Li Jian)

□ Ma Yuan (Chongqing University)

Recently, "tourism partners are accused of being involved in pornography" has attracted attention.It is reported that some netizens found on a social platform that "all-inclusive travel expenses" is becoming a code word. Under the eye-catching title of such posts, it is usually indicated that "girls only, each takes what he needs". In response to this matter, on the 30 th, the relevant staff of the social platform said that at present, a full-scale review has been carried out for the notes related to the "travel partner" in the station, and the problems reflected by the users mentioned in the article have not yet been located. Once the illegal content is verified, the illegal users will be seriously dealt with according to the law.(August 31st.　China News Network)

With the fiery travel, young people are eager to complete a beautiful trip with the partners who resonate with the same frequency, and the "travel partner" comes into being. Behind the "tourism partner", it reflects the new needs of the younger generation in social and tourism consumption. They find travel companions through social media platforms or specific applications and reach a consensus on travel. This way encourages people to get out of the comfort zone, establish contact with strangers and create a unique and unforgettable travel experience together. However, the beautiful vision of sharing travel experiences has changed in social media platforms.

The emergence of new things is bound to be accompanied by some new problems, and the disadvantages of social interaction are gradually emerging. Some lawless elementsBorrowThe name of the child, the fact of illegal transactions, makes the original pure travel contract a tool for illegal crimes. Social networking with partners is plagued by abuse and misleading on social media platforms: for example, words such as "all-inclusive expenses, optional location" or "girls only, each with his own needs" appear from time to time in the copywriting, and some users even mentioned that they were asked if they were looking for a "green partner". The dissemination of this information not onlyGedaSub-socialization itself casts a shadow, which raises people’s concerns about their privacy and security. The existence of this kind of behavior has undoubtedly pushed the social interaction of partners to the forefront of morality and law, and the future development of social interaction of partners has become vague and uncertain.

The response of the platform involved has taken a positive step.DandaThe abuse of sub-socialization exists not only in one platform, but also in other social platforms. Therefore, all major social platforms should strengthen the audit mechanism, strengthen the monitoring and control of platform content, and contribute to optimizing the network ecological environment. Government departments also need to continue to exert their efforts in supervision, formulate relevant laws and regulations, and severely punish the abuse of social partners for illegal transactions. In addition, the public’s own risk awareness and moral values are equally important. Virtual identities on the Internet are often difficult to distinguish, and it is not uncommon to transmit illegal information through obvious words and expressions. In social networks, users should be rational, keep their eyes open while holding a group to keep warm, and not be blinded by superficial information to prevent the infringement of criminals.

In today’s society full of alienation and social pressure, partner socialization provides a unique and beneficial way for some people to interact. We can’t let the behavior of a few abusers,And denyThe positive value of social interaction. Therefore, all sectors of society need to work together to protect the purity and legitimacy of partner socialization, and strive to ensure that partner socialization is not distorted as a tool for illegal transactions while meeting people’s social needs, so that partner culture can continue to radiate warmth and friendliness and bring positive energy to society.

Text/Yangcheng Evening News All-Media Reporter Li Li

On March 28th, the 8th China Public Welfare Annual Conference was held in Tsinghua University. The theme of this year’s annual meeting is "Keep your passion, keep going". It is hoped that through the "aggregation effect" of the annual meeting, the public welfare undertakings of "improving social efficiency, creating social atmosphere, participating in social incentives and building modern civilization" will continue to create new social values.

In order to carry forward the positive energy of society, lead more people to participate in public welfare undertakings, and jointly help new formats and modes such as live broadcast, short video and instant e-commerce to standardize healthy and sustainable development, Public Welfare Times held the launching ceremony of "China Public Welfare Anchor List" at this annual meeting.

The Public Welfare Times compiled and published the "China Public Welfare Anchor List", and the "China Public Welfare Anchor List Office" was responsible for the collection, compilation and publication of public welfare practice cases in the anchor field, and praised celebrities, network anchors, content creators, caring enterprises, etc. who made outstanding contributions to society, so as to make digital public welfare communication more social. The establishment of this list not only reflects the society’s attention to digital public welfare, but also highlights the positive role of network anchors and content creators as public figures in spreading positive energy and leading social fashion.

"Find the power of example and carry forward the spirit of public welfare!" Next, China Public Service Anchor List will hold a series of special events on public service cultural themes, such as "China Public Service Good Things" and "Digital Public Service Competition". Together with major network platforms, high-quality anchors, social celebrities, caring enterprises and public service brands, we will build a digital and sustainable public service ecosystem through digital empowerment.

　　Jinghua Times News (Reporter Jia Ting Meng Fanze) Yesterday morning, the reporter learned from the press conference of the Ministry of Culture that 19 webcast platforms, such as Betta and Huya, were included in the list of illegal and illegal Internet cultural activities because they were suspected of containing obscenity and violence. Liu Qiang, deputy director of the Cultural Market Department of the Ministry of Culture, said that a blacklist system will be established for online platforms and anchors that repeatedly violate the rules, and credit punishment will be imposed, and business activities of violators will be prohibited or restricted.

　　19 penalty results will be announced in time.

　　Liu Qiang, deputy director of the Cultural Market Department of the Ministry of Culture, said that there are two main types of violations in the webcast platform investigated this time. One is that the live broadcast platform for performing arts provides online performances that promote obscenity, pornography and harm social morality. Some "anchors" sexually tease and hint through body and language, and there are violations such as "flashing" and "teasing" to win the audience’s attention and attract the audience to pay for virtual gifts, which is vulgar and indecent and has a bad social impact. Furthermore, the game live broadcast platform provides the game content display with gambling, violence and abetting crime, such as the live broadcast of gangster-themed games "Grand Theft Auto (GTA)5" and "Dragon 0", etc., with bloody pictures and abetting crime, and the live broadcast of illegal game "Zha Jinhua", etc., which promotes gambling behavior and violates social public order and good customs.

　　Therefore, in order to standardize the operation order of Internet cultural market such as online performances, the Ministry of Culture issued the 25th batch of investigation list of illegal Internet cultural activities, and 19 online live broadcast platforms such as Betta, Tiger Tooth Live, YY, Panda TV, Battle Flag TV, Dragon Ball Live, Liujianfang and 9158 were included in the investigation list for allegedly providing Internet cultural products that promote obscenity, violence, instigate crimes and endanger social morality.

　　Liu Qiang introduced that the webcasting platform listed in the investigation list has clear violation facts and sufficient evidence. The live broadcasting platform involved in the case should actively cooperate with the investigation, and should strictly abide by the Interim Provisions on the Administration of Internet Culture and strictly implement the responsibility of content self-examination. The Ministry of Culture has deployed comprehensive law enforcement agencies in relevant regional cultural markets to investigate and deal with the enterprises involved in the case according to law, and announced the punishment results in a timely manner.

　　Violation of the "anchor" will be blacklisted

　　Liu Qiang introduced that in the next step, the Ministry of Culture will focus on establishing a long-term management mechanism, and plan to introduce policies to strengthen the management of online performances, and standardize the key links of online performances in terms of management of business entities and post-event supervision.

　　In addition, a warning list and blacklist system for illegal webcasting platforms and illegal "anchors" will be established, and the behaviors of webcasting platforms and "anchors" will be restrained through the credit punishment mechanism to strengthen industry self-discipline. For anchors who repeatedly violate the rules, the platform will be required not to accept them for anchor business; For live broadcast platforms that repeatedly violate the rules, it is possible to stop providing their content.

　　Liu Qiang said that the current popular mobile APP is not an extra-legal place. It is similar in content and form to the webcast platform and will be included in the management process.

　　> > enterprise response

　　We will continue to improve the platform supervision mechanism.

　　Companies including Betta TV, Tiger Tooth Live, 9158, YY, etc. all responded that they will actively cooperate with the actions of relevant state departments, strengthen the audit management of the platform, and jointly purify the network environment.

　　Betta TV said that yesterday morning, Betta and a number of peers participated in the forum of network culture business units organized by the Ministry of Culture, listened to the publicity and management requirements of laws and regulations, and jointly discussed the development norms of the industry. Betta hopes to provide users with quality live broadcast service through its own efforts.

　　Huya Live also said that it will always adhere to a positive and healthy operation idea, resist vulgar content, resolutely support and cooperate with the actions of relevant state departments, and call on peers to jointly safeguard the green environment of the industry and promote the healthy development of the industry.

　　Tiange Group, which belongs to 9158, responded that this time it was notified by the Ministry of Culture that individual anchors in the platform had performed vulgar performances, and the group had closed the rooms and anchors in time.

　　"The results announced by the Ministry of Culture today are a wake-up call for us and the whole industry, which will enable all platforms in the industry to continue to strengthen the supervision of their own platforms and more effectively promote the sound development of the live broadcast industry." Tiange Group said that they will invest more manpower, material resources and financial resources, continue to strengthen the monitoring and management of the platform, and have the confidence to do a better job in platform supervision.

　　YY Entertainment responded that it will continue to improve the platform supervision mechanism and strictly investigate all kinds of illegal and vulgar live broadcast content. The penalties include closing the live broadcast, titles, confiscation of income and deposits.

　　> > news background

　　Frequent pornographic incidents on live broadcast platforms

　　It is reported that in the past two years, webcasting has rapidly developed into a new Internet culture format, and live broadcast forms such as performing arts live broadcast and game live broadcast have emerged one after another, attracting the attention of a large number of netizens, and the market scale has grown rapidly. According to statistics, the number of users of the webcast platform has reached 200 million, and there are about three or four thousand live broadcast "rooms" online at the same time during the daily peak hours of large-scale live broadcast platforms, and the number of users can reach two or three million.

　　At present, there are about 30 enterprises engaged in webcasting in Beijing, and the industry scale is constantly expanding. Since the second half of 2015, obscene and pornographic incidents represented by "live broadcast creating people" have occurred frequently, violating social morality and even gambling and drug-related problems have occurred frequently, and even some enterprises have used this as a means to create gimmicks for financing and listing, and online pornography is facing new challenges. In this context, the Beijing Network Culture Association launched the activity of negotiating a self-discipline convention, taking regulatory measures to solve the problems existing in the current live broadcast platform and implementing the main responsibility.

　　The day before yesterday, the heads of more than 20 major enterprises engaged in online performance (live broadcast) such as Baidu, Sina, Sohu and iQiyi jointly issued the "Beijing Webcast Industry Self-discipline Convention", promising that all anchors must be certified in real names from April 18; The webcast room must be marked with watermark; Content storage time is not less than 15 days for future reference; For anchors who broadcast political, gun-related, drug-related, violent and pornographic content, serious cases will be blacklisted.

　　Last night, the reporter observed on several live broadcast platforms, such as fighting fish and battle flags, and found that the convention has not been formally implemented, and many platforms have imposed certain restrictions on the performance and dress of the anchor. For example, "it is forbidden to spread vulgar and pornographic pictures, sounds, words, games and video information, causing vulgar interaction in the venue" and "it is forbidden for women to deliberately expose sensitive parts such as cleavage and buttocks". The flag platform also requires the anchor to maintain the order of the live broadcast room and deal with the illegal audience in time. However, in some live broadcast platforms, there are still naked female anchors, and there are also many viewers who leave messages to tease and ask the anchors to "take off their clothes" and "get up and watch their legs".

Peng Wenjun: We are concerned that since 2012, universities directly under the Ministry of Education have arranged 64 universities to be included in the designated poverty alleviation work system. Colleges and universities in our country have played a vital role in the process of getting rid of poverty, especially in the decisive year, and are indispensable forces in the process of getting rid of poverty in the whole country. In a word, the cooperation between universities and local governments in our country is mainly reflected in the combination of blood transfusion and hematopoiesis, and the combination of wisdom and ambition. In particular, the school’s resources are seamlessly connected with local needs, and the school’s scientific and educational advantages are accurately connected with local resources and development foundations. In the process of participating in poverty alleviation, each university is actively exploring and building a new mode of cooperation between schools and places in combination with its own characteristics and the characteristics of poverty alleviation points. There are mainly the following aspects:

1. Poverty alleviation through education lays the foundation for local poverty alleviation. Colleges and universities make use of the advantages of talents to increase the motivation of local development. For example, teaching, pairing, donation, the construction of smart campus, joint teaching, targeted training, and accurate selection and delivery, many measures can lay the foundation for education in poor areas.

2、科技扶贫促进贫困地区产业发展。高校的学科优势转化为地方发展的引擎，主要体现在统筹学科力量，帮助开展技术攻关。比如湖南大学医学特别有特色，对口扶贫的江华县是瑶族区域中南大学把江华县的瑶医、瑶药充分进行技术攻关，进行帮扶。湖南大学利用生物科学的优势，在定点扶贫的龙葵县攻克羊肚菌的种植技术。这些学科优势为地方脱贫起到了很好的引擎作用。

3、文化扶贫。高校的专业优势能够助推解决区域贫困。像湖南的十八洞村，习近平总书记在视察十八洞村的时候首先提出了精准扶贫，也就是说这个村是精准扶贫的首创地。最后湖南省委托湖南大学建筑规划学科的力量，为十八洞村进行援建和设计。整个村的硬件设计、文化设计全部进行包装，形成了十八洞村脱贫攻坚的模式。这也是一种文化扶持的力量。

4、消费扶贫。高校的资源优势可以为对口的扶贫地提供推手和平台，包括农副产品的生产、加工、销售，可以起到很多助力作用。

总的来讲，校地结合、校地融合对于脱贫攻坚发挥了重大的支撑作用。

　　On April 24th, the press conference of the large-scale music and cultural program "Classic Ode to Youth" jointly created by the Literary Program Center of the Central Radio and Television General Station and CCTV Creative Media Co., Ltd. was held in Beijing. At the press conference, the highlights of this season’s program innovation were introduced, and the theme song of the program was officially released.

　　Zhang Guofei, Convenor of the Cultural and Art Program Center of the General Desk, Huang Xiaoju, Deputy Director of the Art Department of the Ministry of Culture and Tourism, Guo Tong, General Manager of Central Video Media Development Co., Ltd. and Party Secretary and Chairman of CCTV, Liao Changyong, Dean of Shanghai Conservatory of Music, Kang Zhen, Vice President of Beijing Normal University, Wang Lijun, Dean of the College of Arts of Beijing Normal University, Lin Yuan, Director of the Large-scale Activity Center of the Cultural and Art Program Center of the General Desk, Tian Mei, producer of "Classic Ode", Wang Chuanyue, a professor of the Central Conservatory of Music,

　　Ancient and modern ensemble traditional culture "Zhengqing Youth"　

　　Five thousand years of culture, three thousand years of poetry, our culture has never stopped. Poetry has cultivated the inexhaustible spiritual source of Chinese culture, built an eternal and beautiful China, and the poems that have been circulated for thousands of years can still cross time and space and have emotional resonance with modern people. For a long time, "Classic Chanting" has harmoniously integrated Chinese classic poetry and modern pop music with the original mode of "harmony with poetry and song", so that more classics can be seen and heard.

　　Huang Xiaoju, deputy director of the Art Department of the Ministry of Culture and Tourism, said in his speech: "Classic Chanting is a cultural program deeply loved by the people. It has always adhered to the socialist core values as the guide, adhered to the position of Chinese culture, actively promoted the creative transformation and innovative development of poetry art, and reflected the national spirit, the style of the times and the life style with strict content selection, in-depth thinking and exquisite artistic creation, providing a large number of high-quality literary works for the audience.

△ Zhang Guofei, Convenor of the Literature and Art Program Center of the Central Radio and Television General Station, delivered a speech

△ Huang Xiaoyu, Deputy Director of the Art Department of the Ministry of Culture and Tourism, delivered a speech

　　Huanxin upgrades the classic IP "Zhengqing"　

　　As of April 24th, since the six seasons of Classic Poems, a total of 303 classic poems have been sung, 338 groups of classic singers have been invited and 338 classic music works have been created, and this number is still increasing. The new season "Classic Chanting" is a brand-new starting point. The program focuses on the theme of "just youth" and strives to achieve breakthroughs in multiple dimensions.

　　Zhang Guofei, convener of the Cultural Program Center of the General Station, said: "The brand-new launch of" Classic Ode to Youth "is that the General Station adheres to ‘ People-centered ’ Further implement the creative concept of ‘ Creative transformation and innovative development of Chinese excellent traditional culture ’ Another masterpiece of the policy. The program will surely become another example of the integration of traditional culture and contemporary expression innovation. "

　　Program producer Tian Mei introduced the highlights of program innovation on the spot. Ideologically, the program takes "just youth" as the core theme, gathers youthful strength from poetry classics, highlights youthful vitality in music creation, and endows traditional classics with more vigorous vitality and communication power; In the lineup, the program cooperated with several professional art academies to create literary and artistic masterpieces, and invited many experts and scholars in the fields of culture and music to expand the appreciation dimension, further enhancing the musicality, professionalism and cultural connotation of the program content; In addition, the program also links many primary and secondary schools across the country, inviting youth representatives to participate in classic singing, showing the elegance of young people in the new era with a youthful spirit, and practicing "educating people with aesthetic education and educating people with culture".

　　Liao Changyong, Dean of the Shanghai Conservatory of Music, expressed his expectation for the program at the scene: "The Classic Ode is a perfect combination of poetry and music, and it has truly achieved ‘ 1+1 is greater than 2’ The artistic effect of. We often say ‘ Poetry ’ This word, poetry and songs will always be together. I hope that more excellent poetry works will be recommended to you on this stage, and I hope that more well-composed songs and truly classic songs will be introduced on this stage. "

△ Liao Changyong, Dean of Shanghai Conservatory of Music, had an interactive conversation with host Sa Beining.

　　Kang Zhen, vice-president of Beijing Normal University, said, "The classics are passed down and passed down forever. Times are different, but youth comes down in one continuous line. "Classic Poem, Being Youth" actively seeks the convergence between traditional culture and modern values, refines the cultural connotation that meets the needs of the times from classic poems, establishes the aesthetic resonance and spiritual resonance of young people with the voice of youth, and makes more young people become the inheritors and innovators of Chinese traditional culture silently. "

△ Kang Zhen, Vice President of Beijing Normal University, delivered a speech

　　Wang Lijun, Dean of the College of Literature of Beijing Normal University, said: "Beijing Normal University is an old friend and good partner of the program" Classic Ode to Youth ".We are very happy to shoulder the mission of the times better with the general station and the program group, and strive to explore an effective way to transform cultural resources and cultural research results into cultural communication, and work together to create a masterpiece with educational, cultural and contemporary significance, so as to truly realize the cultural ‘ Live ’ Get up, let the beauty of classics and culture enter people’s hearts more and better, and contribute more to telling the story of China and showing the youthful China style. "

△ Wang Lijun, Dean of the College of Liberal Arts of Beijing Normal University, delivered a speech

　　The whole people sang "Positive Youth", the step of forging ahead.　

　　At the press conference, the theme song "Heart has a Direction" of the program "Classic Ode to Youth" was also announced. The song was written and sung by Vae and played by Lang Lang on the piano. Focusing on the theme of "just youth", the melody is progressive from gentle to passionate, expressing the spirit of "just youth" with a clear mind, down-to-earth and unafraid of difficulties. At the same time when the song was released, the program also launched the activity of "Creating a Heart-oriented MV with the Whole Network" on the Internet, inviting netizens to perform "Heart-oriented MV" in various ways, such as cover, second creation, musical instruments, dance, etc. High-quality content will be included in the official video, and participants will have the opportunity to become the protagonist of "Heart-oriented MV" together with Vae and Lang Lang.

　　Wang Chuanyue, Phoenix Legend and Dong Baoshi, guests of the new season program, expressed their feelings and thoughts about participating in this season’s recording and shared their feelings about this season’s theme.

△ Professor of Central Conservatory of Music, tenor singer Wang Chuanyue, pop group Phoenix Legend, and music singer Dong Baoshi have an interactive conversation.

　　In addition to the leaders and guests present, Yu Feng, Dean of the Central Conservatory of Music, Zhuge Yannan, Secretary of the Party Committee of china opera, and Jing Xiaoyong, Secretary of the Party Committee and Chairman of China Oriental Performing Arts Group, also expressed their congratulations and expectations to the program’s launch through video. Yu Feng said: "The classic" is a new release, and many excellent teachers, students and graduates from our college have participated in the creation and singing of the program, adding new vitality and communication to traditional culture with practical actions. " Zhuge Yannan said: "As a literary and art worker, I am very happy to see the brand-new launch of" Classic Ode to Youth ". I hope that this season’s program will make the definition of youth broader, and I also hope that the program will make traditional culture bloom with different vitality. " Jing Xiaoyong believes: "As a cultural program deeply loved by the audience," Classic Chanting "has passed ‘ Harmony with poetry and song ’ The form, which combines Chinese classic poetry with modern pop music, provides many excellent works for the audience. We believe that "Classic Chanting is Youth" will continue to sing the main theme of the new era and show the spirit of China people through the diverse integration of music and poetry, with exquisite masterpieces with rich feelings and profound skills. "

△ Tian Mei, the producer of "Classic Ode", introduced the highlights of this season’s program.

　　Live up to the times and inspire youth! Qinghua Lang’s "Classic Ode to Youth" will be broadcast on CCTV-1 during the May Day holiday, and will lead the audience to start a new poetic youth journey with innovative presentation, so stay tuned.

According to the Sina film report, Hu Mei, the director of the film version of A Dream of Red Mansions, responded to the controversy about the film title "Good Marriage".

Hu Mei: First of all, I would like to sincerely thank netizens for their attention to the film. Next, I would like to share with you my understanding of the film title: As we all know, "Mu Shi Qian Meng" said that the crimson pearl fairy grass still shed tears, and Daiyu died of tears; And "Golden Jade and Good Marriage" refers to the death of Daiyu and the marriage of Baoyu Baochai. However, does getting married mean happiness? Is this marriage fair to Xue Baochai?

In the fifth episode of A Dream of Red Mansions, the lyrics of Baochai’s "Life’s Mistake" are written as follows: "Facing the sky, the mountains are glittering and translucent with snow; I will never forget the lonely forest in the world. " The implication is that Baoyu obviously guards Baochai every day, but he can never forget Daiyu in his heart. "Even if it is Qi Mei’s case, it is hard to be flat." The word "meaning is difficult to be flat" is now an online buzzword. Although it was not initiated by Cao Xueqin, it was remembered and still used today because of A Dream of Red Mansions. I think these three heavy words are about the fate of Bao Daichai. Therefore, the title of the film is not to promote women and restrain women, and the story does not promote women and restrain women; The "alliance between wood and stone" is about the tragedy of two people, while the "golden jade and good marriage" is about the tragedy of three people. If "the alliance between wood and stone" is "great sorrow", then "the marriage of gold and jade" is "great sorrow", which is also the story that our film really wants to tell.

Thank you again for your attention. See you at the cinema.

Original Du Zhiqiang titanium media

Image source: unsplash

▎ If Apple’s folding screen is released in 2027, then, in the face of Samsung and Huawei, which have been marketized for nearly 10 years, can Apple still "crush it"?

Author | Du Zhiqiang

Edit | Zhong Yi

This article is the first titanium media APP.

Recently, Apple, whose market value has evaporated by more than one trillion yuan, has become the target of "singing down" in the market. As a product that contributed more than half, the sales of iPhone in China market plummeted by 24% at the beginning of the year, which attracted many investors’ concerns.

For the iPhone, although it occupies an absolute leading position in the global high-end smart phone market, the innovation of squeezing toothpaste every year attracts many users’ dissatisfaction. After the strong return of Huawei, the position of iPhone in China market has also been faltering. As far as the current environment is concerned, AI will be a lifeline for Apple in the short term, but the specific planning and application are still unknown.

"Users and the market want to see Apple make real innovations in the form and design of products such as iPhone, instead of Applying a set of molds for many years," an industrial chain person spoke to the titanium media app.

Folding screen, as a category that has been in mass production for 5 years, has become a sharp weapon for non-iOS mobile phone camp to break through in the high-end market, and the market is also looking forward to the release of Apple folding screen.

Although Apple’s style is "conservative" and the requirements for products are very high, the folding screen has been delayed, which also puzzles many fruit powders. Before, there were many rumors in the market, but in the end they all went away.

Judging from the current news, Apple’s folding screen has been developed for several years and will be released around 2027, the 20th anniversary of the release of the iPhone. However, at that time, in the face of Samsung and Huawei, which have been marketized for nearly 10 years, can Apple’s folding screen be "crushed by the latecomers"?

Mobile phone, tablet, PC, what will be Apple’s first folding screen?

Counterpoint predicts that by 2027, the global shipment of folding screen smartphones is expected to exceed 100 million units. CICC research also pointed out that the iteration of folding screen products will accelerate in 2022, and it is estimated that the global shipment of folding screen mobile phones is expected to reach 80 million units in 2025.

It is worth mentioning that statistics show that the interest rate of iOS users in folding screen mobile phones has reached 58%, and rumors about Apple’s folding screen planning and cancellation in the market have been constant.

At the beginning of the year, it was reported that Apple suspended the development of the foldable iPhone because of concerns about the durability of the folding screen. It is understood that Apple has been in contact with Samsung Display and LG Display before, but from the samples given, it still does not meet Apple’s standards, which is the main reason why Apple suspended the foldable iPhone project.

However, judging from the progress of related patents, Apple is still accelerating the layout of folding screen products.

A few days ago, the list published by the US Trademark and Patent Office showed that Apple obtained a patent on folding screen, covering a variety of products including iPhone, tablet computer and notebook computer. By making textured glass by chemical method, the problem of glass breakage at the folding place is solved. Moreover, it can effectively deal with the crease problem of the folding screen.

It is also reported that Apple transferred some core personnel of the Apple Vision Pro team to the folding screen project team, and internal executives revealed that the release of the first folding screen iPhone will be postponed until 2026, and more advanced technologies will be adopted, which is expected to be thinner and lighter than competitors’ models.

Regarding the release plan of this online foldable iPhone, Tianfeng International analyst Guo Ming Yi said that his latest survey shows that the only foldable product that Apple has a clear development schedule at present is the MacBook with a display of about 20.3, which is expected to be mass-produced in 2027.

In addition, the above-mentioned industry chain people told the titanium media App that Apple will enter the folding screen market with a high probability, but the test will be the iPad first, not the iPhone. Let’s look at the market reaction of the folding screen through the market reaction.

What is certain is that Apple has been developing foldable products for many years. What is uncertain is what Apple’s first foldable screen product will be, which may be a mobile phone, a tablet or a laptop.

Titanium Media App believes that from the perspective of market maturity, mobile phones and tablets are more likely. If it is a mobile phone, it will be listed on the occasion of the 20 th anniversary of the release of the iPhone. If it is a tablet, it is more likely to test the water first in 2026 and explore the road for the foldable iPhone in the following year.

Get up early and catch up with late episodes.

The picky apple is "too slow"

It has been more than five years since the release of the first mass-produced folding screen. In the past five years, the number of folding screen players has expanded from Samsung and Huawei to Xiaomi, OPPO, vivo and Glory, and the double-digit growth rate has also become a "clean stream" in the declining mobile phone market.

Although the current volume of the folding screen is not very large, one thing is certain, the direction of the folding screen is not wrong. In the view of Titanium Media App, the innovation of the current smart phone market has reached a bottleneck period. Before revolutionary innovation, folding screens are the right direction for mobile phone manufacturers to seek increments and enhance their experience.

Image source: IDC

According to the latest data released by IDC, the China folding screen mobile phone market shipped about 7.007 million units in 2023, up 114.5% year-on-year. Since the launch of the first product in 2019, the folding screen mobile phone market in China has grown by over 100% year-on-year for four consecutive years.

Guo Tianxiang, a senior analyst of IDC China, revealed to Titanium Media App that according to the forecast data of IDC in November 2023, the expected shipment of folding screen mobile phone market in China will be around 10 million in 2024, with the year-on-year growth rate still exceeding 50%, continuing the trend of rapid growth.

Talking about the rapid development of folding screen mobile phones, Zhao Jun, CEO of TCL Huaxing, told Titanium Media App last year, "About five years ago, folding mobile phones began to enter consumers’ field of vision. Three years ago, the market size of folding mobile phones was less than 1 million. This year, the market size of the whole folding mobile phone is close to 20 million, probably between 18 million and 20 million. The global shipment of folding mobile phones is basically growing at several times a year. We believe that folding mobile phones are the main innovation and growth point of product innovation and iteration in the field of smart phones. "

In an article about Apple Vision Pro, Vanity Fair revealed that on the edge of Infinite Loop in Apple’s old campus, there is an unremarkable low-rise building called "Mariani 1", which contains some imaginary products that Apple is developing, including the foldable iPhone.

Domestic folding screen products in 2023, titanium media App drawing

Compared with Samsung and Huawei, Apple’s research on foldable products is not too late, and may even be earlier. However, in terms of the progress of mass production and the attitude towards the market, Apple is much slower. Even if the product requirements are high, if the foldable product is released in 2026, it will be seven years later than Samsung and Huawei.

In contrast, Apple Watch is only two or three years later than Samsung. According to the incomplete statistics of Titanium Media App, in 2023, a total of 7 domestic brands released 13 folding screen products, including left and right folding and up and down folding. Among the head brands, Apple has not released related products.

In fact, it is understandable that the foldable project has been "difficult to produce" because Apple is so slow. On the one hand, folding screens are currently aimed at high-end user groups, which is a weapon for domestic brands to break through, and this is also the main battlefield of iPhone. From the perspective of sales volume, the core position of iPhone in the high-end market has not wavered. In addition, although the folding screen has a high growth rate, the tens of millions of volumes are still a small category compared with the annual sales of smart phones exceeding 1 billion. Therefore, the smaller competitive pressure has not made Apple feel a sense of urgency.

On the other hand, there are still many problems with folding screens, such as creases, especially small creases, which will become more obvious after long-term use. There are also the balance between thinness and performance, system-level optimization, etc., which are also the development problems faced by folding screens. But in the face of the future, there is still a question. By 2026, can Apple really solve these problems? Or can’t Huawei and Samsung solve it?

In addition, considering the impact of the iPhone in the market, even if the volume is currently small, Apple should indeed accelerate the mass production of folding screen products. Guo Ming said that the market consensus of iPhone shipment in 2024 was 220-225 million units, and now it has started to be repaired, and it is close to its previous forecast of 200 million units. Guo Tianxiang pointed out that the folding screen, which has greatly improved the product form, is more likely to attract consumers’ attention and stimulate their desire to change machines.

More challenges lie ahead.

For Apple, once the folding screen product is launched, the initial big sale is foreseeable, and its strict requirements will inevitably lead to the promotion of the entire foldable industrial chain. It is understood that Samsung Display is a panel company that has more scandals with Apple. It is reported that if Apple mass-produces folding screen products around 2026, it will be exclusively supplied by Samsung Display, which has supplied panels for Samsung folding screen mobile phones for many years, and it will be more suitable for Apple’s requirements in terms of production and technical maturity.

However, in the later stage, based on cost considerations, Apple will also cooperate with more panel manufacturers, just like the straight iPhone, which will promote the improvement of domestic panel supply chain technology. At present, in the folding screen supply chain, domestic products are on the rise, but we must also recognize the gap. For example, in the folding screen patent, according to Watt Intelligence, the folding screen patent obtained by Samsung Display is four times that of global competitors, and it is still far ahead.

As one of the most anticipated products in the market, in addition to the release time, there are still many challenges before Apple. First, how to set the price. As we all know, the current price of iPhone has exceeded 10,000 yuan. How to divide the price of foldable version from that of straight screen, and in which range, is something that needs careful consideration. After all, no matter how strong the product is, once the price exceeds five figures, many people will still be discouraged.

The second is how to balance the product form, lightness and performance, and the choice of folding form. Guo Tianxiang pointed out that "thinness" has become the primary factor affecting consumers’ choice of folding screen mobile phones. However, if the pursuit of "thinness" blindly leads to the decline of reliability, it will directly affect consumers’ long-term choices in the future.

At the same time, the overall cost of up and down discounts is lower, which will attract more female users. However, from the perspective of usage scenarios, the experience brought by big discounts will be better. IDC’s data also points out that although the price of vertical folding products is relatively lower, horizontal folding products have been favored by more consumers in China because they can better reflect the big screen experience of folding screen mobile phones.

"In 2023, the market share of cross-folded products increased to 68.1%, up 10.4 percentage points year-on-year. At present, in addition to being convenient to carry, consumers still lack the necessary use scenarios, and there is also a significant gap between the experience and the straight board machine at the same price, and there is still room for improvement in product quality. "

Finally, it is the experience of software. For a folding screen, if you just make the screen bigger, it will only make this category "chicken ribs". After doing a good job in hardware experience, how to make users feel the improvement brought by folding screen in software ecology is particularly important.

Guo Tianxiang told Titanium Media App that when everyone’s hardware enters a basically similar situation in the future, the software experience will become more and more important. To really make consumers use folding screen products for a long time, it is still necessary to create more suitable use scenarios through software and give full play to the characteristics and advantages of folding screens.

At present, the whole folding screen industry is still rushing, which is just Apple’s current "dilemma". More importantly, it may be to solve the problem of EU fines and accelerate the process of AI. As for the folding screen, what the market hopes is not to "skip the ticket". After all, the ten-year plan to build a car can be abandoned, and the foldable iPhone has to be a big question mark.

(This article is the first titanium media App)

Original title: "Why is Apple’s folding screen so difficult to produce?" 》

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　　"Buying electricity card" has been neutral in the drought-resistant and seedling-protecting war in some towns and villages. Dagong Business Daily reporter Hu Zhiqiang/photo

　　Henan urgently applied for calling "rain-increasing aircraft"

　　The deputy director of the Provincial Meteorological Bureau communicated with netizens online, saying that the "rain-increasing aircraft" could be in place in the middle of this month, and artificial rainfall and snow could be carried out when the time was ripe.

　　■ Business Daily reporter Guo Fushou

　　In the face of this year’s severe drought, meteorological stations at all levels in our province have used high technology-a new generation of weather radar to monitor weather changes. In the middle of this month, "rain-increasing aircraft" can also be put in place.

　　Yesterday afternoon, Zhao Guoqiang, deputy director of the Provincial Meteorological Bureau, visited the portal website of the provincial government and the live broadcast room of Dahe. com, and exchanged views with netizens on issues such as "fighting drought with all efforts to protect seedlings and win a bumper harvest".

　　A new generation of weather radar helps drought resistance

　　"After the drought, meteorological departments at all levels in the province have been closely monitoring the weather changes, and a new generation of weather radar is on.

　　Zhao Guoqiang said that they have also strengthened drought monitoring and satellite remote sensing monitoring.

　　Since February 3, 2009, the precipitation and precipitation infiltration depth have been observed intensively. According to the monitoring and analysis, the Provincial Meteorological Bureau issued an orange warning signal for drought on January 7, and upgraded the drought warning to red on January 29, prompting relevant departments and units to do emergency work to prevent drought, and also providing meteorological basis for the provincial party committee and government to organize leaders to carry out drought-resistant wheat watering work.

　　580 shells and rockets to alleviate drought

　　"According to the arrangement of the Provincial Meteorological Bureau, all parts of the province have inspected anti-aircraft guns, rocket launchers and other equipment that carry out weather modification operations. On the first day of work after the holiday on February 1, a special person and a special car were sent to Luoyang and Jiaozuo. " Zhao Guoqiang said.

　　On the night of February 1st, the artificial influence workers in Sanmenxia, Luoyang, Jiyuan, Jiaozuo, Anyang and other cities stuck to the gun point, and timely carried out ground anti-aircraft guns and rockets to artificially increase rainfall and snow. A total of 18 anti-aircraft guns and 26 rockets were dispatched, and 400 shells and 180 rockets were fired. As of 08: 00 on February 2, there was light rain and snow in the affected area, which alleviated the drought to some extent and reduced the fire risk level of the forest area.

　　The "rain enhancement plane" can be put in place in the middle of this month.

　　Zhao Guoqiang said that according to the requirements of the provincial party committee and government, the Provincial Meteorological Bureau formed the 12th supervision team led by the bureau leaders to guide the work of drought-resistant wheat watering in Puyang. At the same time, the relevant business units of the Provincial Meteorological Bureau and the meteorological bureaus of provinces and municipalities also sent experts, technicians and mobile soil moisture measuring instruments to the fields to provide technical guidance and on-site services for farmers.

　　"Not only that, but also urgently call the rain-increasing aircraft." Zhao Guoqiang introduced that he was also actively in contact with the Air Force Department on matters related to the early adjustment of aircraft. On February 3rd, the letter from the provincial government to apply for a rain-increasing plane from the Air Division has been delivered by a special person. It is expected that the rain-increasing plane will be in place in the middle of this month.

　　Credit card irrigation makes great contributions. Farmers look forward to "well-to-well communication"

　　■ Business reporter Hu Zhiqiang correspondent Sean

　　It saves money and effort to water the land and swipe the card. In the face of the once-in-50-year drought in the whole province, farmers’ friends have a heartfelt heart: the grassroots need benefits like "well-connected".

　　Farmers can water the land by swiping their cards.

　　Yesterday morning, Meng Yongsheng, a villager from Menglou Village, Xilingsi Town, Sui County, came to the transformer room at the east end of the village. He pushed on the knife, took out a card from his coat pocket, pointed it at the electric meter, and only heard a bang, "It’s time to water the ground …" Meng Yongsheng ran to his wheat field with a smile. At this time, the plastic pipe in the ground had already come out.

　　Meng Yongsheng said that before the "well-to-well connection" project was realized, it would take him half a day to pour it back to the ground.

　　Meng Yongsheng’s "well-to-well connection" project is a pilot project for the state to support key agricultural power projects. Meng Xiande, secretary of the Party branch of the village, said that at present, more than 800 mu of wheat in the village has been watered. If it is not the "Jingjingtong" project, I am afraid that many farmers will be worried about the lack of power lines and meters.

　　Save labor, time and land.

　　Li Xiangyu, director of the production planning department of Suixian Power Supply Company, introduced that the "well-to-well connection" project is also called "platform area", which refers to the well area controlled by a transformer, and is referred to as "platform area" for short. In the implementation of this project, there is no wire post in the wheat field, and the land can be watered by swiping the card. His benefits are not only labor-saving, time-saving but also land-saving.

　　In the implementation, the cable is buried more than 1 meter deep underground, so that the line loss is greatly reduced without wind and rain; Secondly, the outdoor transformer is seriously stolen, the transformer is installed indoors, and the door is equipped with monitoring and alarm equipment, which can effectively prevent theft.

　　Li Xiangyu introduced that the company invested a total of 4.95 million yuan last year. At present, there are 34 "well-to-well" projects in the county, benefiting more than 23,000 mu of cultivated land in this year’s drought relief work.

　　The small card introduced by Li Xiangyu is the "IC" card. You can pay the electricity fee to the Dianguanzhan for recharging. After watering the land every time, you can swipe your card again, which shows the electricity consumption and balance of farmers. At the same time, the machine will automatically settle according to the charging standard stipulated by the state.

　　I look forward to more investment in these projects.

　　"I don’t know, I’m scared." This is a proverb in eastern Henan. In the past two days, the Business Daily reporter visited four townships in Sui County. Whether there is a village committee of the "Jingjingtong" project, the growth of wheat seedlings can be described as two days.

　　Under the background of the same drought year, in the implementation area of the "Jingjingtong" project in Menglou Village of Xilingsi Town, the growth of wheat seedlings is generally better than that of other village committees. Jiangang Township is a township with good soil quality in Sui County, and Yanzhuang Village in this township is also a beneficiary village of "well-connected". Yesterday afternoon, villager Ding Baoquan watered his own wheat for the second time, and at the same time, he applied fertilizer first, which effectively enhanced the growth of wheat seedlings.

　　Compared with the village committee with the "Jingjingtong" project, Wang Peichu, a villager in Li Dazhuang, Xilingsi Town, has a strong desire for "Jingjingtong". He said that if there is this project this year, he and other villagers will respond positively.

　　In response to farmers’ voices, Li Xiangyu said that in recent years, the state has increased its investment in power infrastructure. If the funds allocated by higher authorities are normal, the county needs more than 1,300 "stations", and the transformation task can be completed in two to three years.

　　"By then, farmers in the county can water their crops with their credit cards." Li Xiangyu said.

　　Yellow River Defense General:

　　Stop the Yellow River from cutting off.

　　Business News (Reporter Guo Fushou) Due to the severe drought in Henan, Shanxi, Shaanxi and Shandong provinces, the Yellow River Flood Control and Drought Relief Headquarters (Yellow River Flood Control Headquarters) held an emergency meeting and issued instructions to support drought relief in the basin to ensure the safety of the Yellow River’s ice prevention, drinking water safety and food safety in the Yellow River water supply area, and ensure the continuous flow of the Yellow River.

　　Xiaolangdi adjustable water quantity

　　Half less than the same period last year.

　　Yesterday, news came from the Yellow River Committee that the Yellow River Flood Control and Drought Relief Headquarters held an emergency special meeting on drought relief. In the case that the main stream of the Yellow River is dry, it is necessary to do everything possible to raise water sources to support the drought relief in the basin provinces.

　　According to the latest hydrological data, from November last year to January this year, the inflow of water from the main inflow areas of the Yellow River Basin was 5.244 billion cubic meters, 13% less than the multi-year average, of which 950 million cubic meters came from the middle reaches of the Yellow River, 51% less than the multi-year average; The downstream inflow was 141 million cubic meters, 76% less than the multi-year average. Affected by the continuous drought, the adjustable water volume of Xiaolangdi Reservoir in the Yellow River is only 1.71 billion cubic meters, 1.74 billion cubic meters less than the same period last year.

　　"In order to support drought resistance in Henan, Shandong and other provinces, the Yellow River Flood Control and Drought Relief Headquarters strengthened consultations, closely tracked the development of downstream ice conditions and droughts, and scientifically dispatched and increased water consumption indicators in time when the incoming water was dry." The relevant person in charge of the Yellow River Committee said that it is necessary to ensure the safety of the Yellow River against ice, the safety of drinking water and food in the Yellow River water supply area, and ensure the continuous flow of the Yellow River.

　　Issue an orange warning of drought

　　The reporter also learned that in view of the severe drought in several provinces in the Yellow River Basin, especially in Shanxi, Shaanxi, Henan and Shandong provinces, according to the provisions of the Yellow River Basin Drought Relief Plan (Trial), the Yellow River Defense General has further upgraded the warning level. From now on, the regional drought in the Yellow River Basin will be upgraded from a yellow warning to an orange warning, and a secondary emergency response will be launched.

　　Henan Yellow River Affairs Bureau:

　　It attracted 322 million cubic meters of Yellow River water.

　　Quench thirst of wheat in our province

　　Business News (Reporter Guo Fushou correspondent Zu Shibao Liu Tian) Yesterday, the reporter was informed that the Henan River Affairs Bureau held an emergency meeting on drought-resistant wheat irrigation on the 3 rd, proposing to make full use of the Yellow River water and go all out to ensure the demand for drought-resistant wheat irrigation in Henan along the Yellow River.

　　Niu Yuguo, deputy commander of the Flood Control and Drought Relief Headquarters of Henan Province and director of the Yellow River Affairs Bureau of Henan Province, said that from November last year to January this year, more than 20 sluice gates for diverting water from the Yellow River were opened one after another, and the cumulative water supply to Henan along the Yellow River was 316 million cubic meters. The maximum daily water intake for drought-resistant wheat irrigation reached 130 cubic meters per second. Among them, the emergency water diversion in January was 162 million cubic meters, which was 120 million cubic meters more than the same period of last year, which was the highest water diversion in the same period since 1980.

　　In January this year, our province diverted 162 million cubic meters of Yellow River water in an emergency, setting a new high for the same period since 1980. The Yellow River Affairs Bureau of Henan Province applied to the Yellow River Committee for a water plan to divert 322 million cubic meters of water to the Yellow River in February, with an average diversion flow of 133 cubic meters per second, which has been approved by the Yellow River Committee, the highest application and approval for the same period since 2000. This means that 322 million cubic meters of Yellow River water will be used to water wheat in our province. henan business daily

Editor: Yan Bin