90% of uncompleted residential flats in Guangzhou have been revitalized.

The unfinished building was once a special group with 82 scars in the city, and a case was vigorously rectified to help it regain its life.

A luxurious office building surrounded by 16 huge Roman columns among the overgrown weeds; The modern intelligent office building in a prime location has been established for more than 10 years, but it just stays on the drawings, and the site is still a muddy construction site …

Like many cities in China, many commercial development projects in Guangzhou came to a standstill in the 1990s due to the break of the capital chain and other reasons, and became "unfinished buildings" covered with moss, like a dazzling "scar" in the bustling downtown area.

Solving the problem of uncompleted residential flats and healing urban scars has become a key livelihood project that successive governments in Guangzhou have attached great importance to. City leaders personally took the lead and set up special work leading groups twice to vigorously promote the disposal of "uncompleted residential flats" and untie the deadlock one by one in batches on the basis of respecting history and complying with laws and regulations. At present, 90% of the 82 "uncompleted residential flats" in Guangzhou have been revitalized and become a beautiful landscape in the city.

Cause:

Capital chain fracture

It’s a rotten tail commonality

According to an urban construction person, at that time, a large number of overseas businessmen were optimistic about Guangzhou’s prospects and came to invest. Some local investors also aimed at development opportunities and bought land for real estate development. Guangzhou ushered in a real estate development boom. "Some developers have no financial strength and want to borrow project financing or even empty hands. The break of capital chain is a commonality of these properties."

The reporter learned that Conghua Hot Spring Villa was put on sale in the 1990s. In 1996, it was the first to "buy a villa and send it to a villa". At that time, the price of the villa was about 5,000 yuan/square meter. After the sale, it was not ideal, and the investor withdrew its capital and then it was unfinished. After the outbreak of the financial crisis in 1997, the developer’s capital chain was broken. After Zhongcheng Plaza, now known as Guangzhou Sinopec Building, completed 80% of the glass curtain wall on the external wall, the construction unit was in arrears with tens of millions of yuan, and the building stopped working. The building entered the "unfinished mode".

In the prosperous commercial area of Changgang Road in Haizhu District, the name of Darby International Business Center was "Hong Kong and Macao Jiangnan Center" before it was revitalized, which is also an unfinished building that has stood for many years. In 1993, the foundation was laid, and it was stopped when it was built on the 29th floor. Then it changed hands many times and changed its name many times. After it changed hands again in 2006, it ended badly because of problems in the capital chain.

Some people say that every unfinished building can be made into a movie: some investors have lost their lives for it. In 1995, a partner jumped down from the unfinished Jiangnan Center in Hong Kong and Macao and made a sensation. Zhongcheng Plaza, once known as "the first unfinished building in China", dismounted Huang Songyou, former vice president of the Supreme People’s Court, and Yang Xiancai, former director of the Executive Board of Guangdong Higher People’s Court. Hailian Building, which was unfinished shortly after the foundation of scenery, also sent Xu Yunian, former vice minister of Guangdong United Front Work Department, to prison. Every time I look at these unfinished buildings from afar, many people who have experienced them are crying.

Impact: Some relocated households did not move back until they died.

In 2003, Liu Liansheng, who just graduated from a university in Wuhan, was still very clear about the "wonders" of the city when he first came to Guangzhou. "As soon as I got out of Guangzhou Railway Station and turned to Huanshi Road, I saw a tall, magnificent and square building in a grassy field." "After working in Guangzhou for many years, I still see this mysterious house in its original place, surrounded by high walls, like a luxurious office building, and no one has entered."

These uncompleted residential flats once became "the scar of the city" and "the stain of the environment" in Guangzhou. The reporter inquired about the relevant information and learned that most of these unfinished buildings are concentrated in the central city, and they are located in downtown and prosperous places. Take Wanlinghui before the revitalization as an example, which is located in the core business district of Tianhe, next to Zhengjia Square, and can be described as a prime location; Zhongcheng Plaza, once known as "the largest uncompleted residential flats in China", is located at the junction of Tianhe North Road and Tiyu West Road. The surrounding CITIC Plaza, Mayor Building and Victoria Plaza are all important commercial places in Guangzhou, and the property prices are high.

"These unfinished buildings not only affect the surrounding environment and the image of the city, but also make valuable economic resources idle and wasted. More importantly, they lead to a large number of letters and visits, which can easily lead to social instability." An industry insider admits that the uncompleted real estate is most affected by the relocated households and buyers who used to live here, resulting in their long-term inability to move back and resettle. The short period is more than 10 years, and the long period is more than 20 years. "Some resettlement households have not even moved back to the new building until their death. Many unfinished buildings have pulled up banners with tens of meters of white cloth and black characters, which is heartbreaking."

Crack: as a key project, many departments work together.

In 2002, the Guangzhou Municipal Government put forward the goal of "eliminating uncompleted residential flats". In 2003, Guangzhou Municipal People’s Congress issued the resolution on the implementation plan of "Proposal on Improving Unfinished Buildings as soon as possible", which proposed that solving and preventing "Unfinished Buildings" would be an important task in urban planning, construction and management in the future. Chen Jianhua, the mayor, gave instructions on "uncompleted residential flats" twice. "The reasons for the formation of uncompleted residential flats are complicated. Please ask the Project Construction Committee to set up a task force to take the lead, analyze each project one by one, and speed up the progress of revitalization. Strive to clear the old accounts as soon as possible, and no new accounts will be owed. Standardize urban construction and project management. " "It is a major measure to take the hard bone of’ uncompleted residential flats’ to administer according to law and build a society ruled by law."

According to the person in charge of the Guangzhou Municipal Commission of Housing and Urban-Rural Development, Guangzhou has twice set up a special work leading group to deal with the "uncompleted residential flats" in Guangzhou. "Some unfinished buildings have convened more than 10 departments and held more than 10 coordination meetings. It is common to open from morning till night." A person in charge of urban construction who has participated in the revitalization project of uncompleted residential flats for many times told reporters that he has investigated almost every registered uncompleted residential flats in Guangzhou, decided on the revitalization plan, and is also responsible for follow-up implementation. "It is easy to build a new building, but it is difficult to revitalize an old building."

According to the person in charge of the Guangzhou Municipal Commission of Housing and Urban-Rural Development, the causes of the "uncompleted residential flats" are very complicated, including internal reasons, such as shutdown due to broken capital chain, unfinished residential flats due to enterprise bankruptcy, and external objective reasons, such as being sealed up by the court due to debt disputes and difficult to achieve economic balance due to planning adjustment. To untie the fast knot, we must clarify the causes of the rotten tail and put forward a targeted revitalization plan.

"Every unfinished building has commonalities and characteristics. It is necessary to jump out of the old thinking and not play cards according to the routine." The person in charge also introduced that Guangzhou’s experience in revitalizing unfinished buildings has attracted many cities such as Zhuhai to "learn from the experience". He concluded that it is not easy to revitalize these unfinished buildings in a short period of time. "It is necessary to deal with them in batches first, and it is necessary for multiple departments to work together.

The city once had

82 "uncompleted residential flats"

Revitalized 47 "uncompleted residential flats" projects

Zhengjia Oriental International, Lujingtai, Jinglong Pavilion, Fanying Pavilion, Qiaokang Building, etc.

Projects that are being revitalized

Ten projects have entered the construction or sales stage.

Hailian Building, Famous City Commercial Plaza, etc.

13 projects go through administrative approval procedures according to procedures.

Xinhao Building, Donghu Xuan, etc.

10 cases have entered the execution stage of judicial disposal.

Fudu Building has been auctioned off.

Fuxin Plaza is revitalized by new creditors.

……

Revitalize oneself through enterprise restructuring

Zhongshui Plaza was reorganized and revitalized by the parent company of the major shareholder, the Three Gorges Group. The Three Gorges Group agreed to start the procedure as soon as possible, but the progress was slow.

"This means that it is not easy for more than 90% of uncompleted residential flats in Guangzhou to be properly handled or revitalized." An urban construction person told reporters.

"The projects that have not been revitalized at present are real’ hard bones’, and there are many historical problems such as legal relations and disputes over creditor’s rights and debts, incomplete project procedures, lack of information and planning adjustments, and so on." The person in charge of the Guangzhou Municipal Commission of Housing and Urban-Rural Development said that the next step will be to coordinate the planning department to actively list the planning and approval problems of the projects concentrated in the planning and approval stage and propose solutions, and coordinate the courts at all levels to step up the judicial disposal of the projects so that the projects can enter the administrative approval and resume work as soon as possible.

Where did the uncompleted residential flats go?

9 years of unfinished business in Zhongcheng Square

Located at the junction of Tianhe North Road and Tiyu West Road, it was the Guangzhou Big Mac office building under construction. After the construction started in 1992, many Hong Kong and Macao investors snapped it up, and the price soared to more than HK$ 30,000 per square meter at that time. When the Asian financial crisis broke out in 1997, the developer’s capital chain was broken, and the project became "the first unfinished building in China". According to reports, the debt dispute of the building is complicated. In the past 15 years, more than 300 lawsuits have been fought. After several changes of hands, in mid-2006, Sinopec Group Corporation bought a tower in Zhongcheng Plaza for about 10 billion yuan, and officially renamed Zhongcheng Plaza as "Sinopec Building".

Heyin Square has been unfinished for 7 years.

In 1998, Heyin Plaza, located next to Huanshi East Road Garden Hotel, was officially started. It was named "Dapeng International Plaza" and was the "Chief Office Building of Huanshi Road Business Circle in Guangzhou", which attracted a lot of Hong Kong capital. When the financial turmoil struck, the developer Dapeng Real Estate abandoned Heyin Plaza and took over Zhengjia. In 2002, the project eventually became "the second unfinished building in Guangzhou".

Hong Kong Ruian Group once announced that it planned to acquire Heyin Plaza for 1.388 billion yuan. In January 2009, Ruian Group suddenly announced that it would abandon the acquisition, and the revitalization of Heyin Plaza was frustrated. At the end of 2009, Dapeng Real Estate raised enough funds to let Heyin Plaza resume work and officially revitalize it. It officially opened in early 2011 and changed its name to Zhengjia Oriental International Plaza, which is currently one of the subsidiaries of Guangzhou Zhengjia Group.

Fanying Pavilion has been unfinished for more than 7 years.

Fanying Pavilion is located at No.130, Binjiang West Road, Haizhu District. It was originally developed by Guangzhou Hengjing Real Estate Investment Co., Ltd. (hereinafter referred to as Hengjing Company). In 2003, it stopped working. In 2010, due to debt disputes, some houses were auctioned by Guangzhou Haizhu District People’s Court, and Guangzhou Yicheng Jiangzhao Real Estate Co., Ltd. (hereinafter referred to as Jiangzhao Company) won the bid to rebuild Fanying Pavilion.

Since then, due to the non-cooperation of the executed person Hengjing Company, the buyer Jiangzhao Company was unable to go through the relevant procedures of reconstruction, such as engineering, water and electricity, fire inspection and acceptance, filing of completion inspection and filing, which affected the reconstruction, and 102 small owners who bought houses were unable to take over the building and apply for real estate licenses, causing small owners to be dissatisfied with petitions.

In 2010, the Guangzhou Municipal Construction Committee held two coordination meetings, and reached an agreement with the participating functional departments: from the overall situation of protecting the rights and interests of 102 small business owners who have purchased houses and maintaining social stability, all relevant functional departments should support the bidders to complete the procedures as soon as possible and then return to work. As Haizhu District Court has explicitly agreed to go through the formalities of applying for reconstruction in the name of Jiangzhao Company, Haizhu District People’s Court will issue a notice of assistance in execution to the relevant departments. On June 12, 2010, Guangzhou Municipal Construction Committee and Guangzhou Mediation Office jointly held another meeting on "Speeding up the related work of rebuilding the unfinished building of Fanyingge", and determined the co-organizer departments and handling methods for all aspects of the procedures for rebuilding and reporting, so that the problem could be finally solved. The building has been built and accepted, and the owner has moved in and handled the real estate license.

Xichang Electronic City has been unfinished for 9 years.

The Xichang Electronic City Project is located at No.81 Dongfeng West Road and Zhongxing Cross Section, and was developed by Guangzhou Lihong Real Estate Development Co., Ltd. The project covers an area of about 3,200 square meters, with 13 floors and a total construction area of about 23,000 square meters.

In 1995, the construction unit began to apply for construction projects. The main structure construction was completed in 2000. In 2003, due to the financial problems of the construction unit, the work was stopped, and the main building structure and external wall were completed when the work was stopped, and the equipment installation and internal decoration were not completed. In 2011, Lihong Company began to straighten out the relationship and restart the project. In 2012, the architectural design of the project was reviewed from the perspective of respecting history, coordinated by the Guangzhou task force to deal with uncompleted residential flats. Subsequently, Guangzhou Planning Bureau and Liwan District Construction and Landscaping Bureau approved the architectural design and construction permit respectively. Now the construction unit has improved the declaration procedures, completed the construction and entered the pre-sale. (Reporter yangjin correspondent Yuan Guoke)

FSD, right here? Selling 64 thousand is not as good as BYD’s smart driving, and the points are not deducted enough?

On February 25th, Tesla officially announced the opening of the Autopilot automatic assisted driving function on urban roads, and began to push software updates to users who ordered FSD in batches. The FSD that domestic consumers have been looking forward to for many years has finally arrived.

To be honest, the consistent view of Kung Fu cars is that FSD is better not to come in. Not to mention all kinds of restrictions, the video sent back from North America alone, even if it has been processed, is still far from the level of domestic first-line intelligent driving.

Such a "semi-finished product" FSD costs 64,000 yuan to order, which is really a slap in the face. But FSD is still here, which means that Tesla’s future is full of uncertainty.

What is the performance of the domestic version of FSD? Can you afford the sky-high price of 64 thousand yuan? Let the Kung Fu car show you around.

(1) Frequent violations, second-line technology at most?

At present, there are a lot of measured videos of FSD. Let’s talk about the road performance first, which can be described as "terrible". On the first day of FSD’s entry into China, many car fans and car critics tested it, and all of them were very consistent and "disappointed".

Many car owners said that FSD failed to correctly identify the traffic lights at the crossroads, and directly ran a red light to stage a "tram scare", and the whole driving process was in danger.

Some users in Weibo said that they just started an early peak with Tesla Autopilot, and as a result, 12 points were deducted, and well-known car reviewers liked to mention 7 violations.

Of course, the main problem is that the road scene of Tesla FSD function is not fully covered. The current FSD, to put it bluntly, is still a "North American version", and the usual training is also based on the American scene.

In the face of domestic electric bicycles passing through, occupying roads, bus lanes and so on, there is a lack of corresponding plans. For example, many car owners gave feedback, and FSD did not avoid take-away vehicles in time, which caused violations. On this point, the United States certainly does not have it.

In addition, Tesla FSD’s performance is not good enough, even if we don’t talk about the violations that everyone is arguing about. Before, some media made a long test of the same road. As a result, Tesla took over 24 times during the test, which was not excellent. Under the same circumstances, the number of ideal and boundary takeovers is less than 10 times.

To put it simply, even if Tesla adopts a more "radical" strategy, which makes consumers bear more risks of violating the rules, the final "silky" degree is far less than that of domestic first-line smart driving companies. This reality is undoubtedly cruel to Tesla fans. If we don’t introduce it, everyone will have an excuse, and there is no room for argument.

The key point is that Tesla’s smart driving is expensive. It costs 64,000 yuan to install the FSD, and the smart driving of most domestic car companies is close to "free". BYD’s Han and Tang dynasties from 69,800 to 200,000 have all come standard with high-level intelligent driving. Geely has also been pushed to the level of 100,000, and the follow-up is also standard in the whole department. Tucki P7+, these 200,000 family cars, are also "free gifts" for smart driving.

Car companies like HarmonyOS Zhixing and Ideality, which insist on charging, will only increase the price of intelligent driving system by about 20,000 yuan. Compared with Tesla FSD, which sells a package of 64,000 yuan, it is completely different.

In other words, a set of intelligent driving system with the highest second-line level still sells the highest price in the industry, and it is natural for consumers to be disappointed.

(2) The original shape is revealed, and Musk’s "shabu-shabu" is pale and powerless?

Musk also explained the performance of FSD in China market, but it sounded more like "throwing a pot". He said that the FSD function used by users in China is based on the public video training of roads and signs on the Internet. That is to say, if the network map is inaccurate, temporary road repair or bus lane shift occurs, it has nothing to do with FSD itself.

In addition, Musk said that he would send American autopilot engineers to China to optimize the FSD system.

This explanation sounds reasonable, but it is not the case when you think about it carefully. Since they dare to sell in China and 64,000 yuan a bag, consumers will naturally acquiesce that this is a mature system. If it is a semi-finished product, the first batch of consumers are just "mice". Why do you charge so much? It should be pushed for free or even "reverse change".

In addition, Musk’s statement is that there is no special training for domestic roads. In fact, it also implies that the FSD system relies more on the "investigation" of the road itself than the identification ability of the vehicle itself.

It is not difficult to understand that Tesla takes a purely visual intelligent driving route, lacks accurate three-dimensional perception ability, and has inherent defects in judging the position and trajectory of objects, so it needs to rely more on the so-called "training".C:UsersxiaohangDocumentsWeChat Fileswxid_u82gn77jgm6f52FileStorageTemp353c37b8b3778b893f73ad2521b2dc9.jpg

In contrast, domestic car companies will reserve enough ultrasonic and millimeter-wave radars to provide integrated visual effects even if they take the scheme without laser radar.

Pure vision, Tesla intelligent driving system uses the simplest method, which can minimize the cost. But the question comes back again. Since the cost has been reduced to the lowest, why should we sell the highest price in the industry?

(3) Americanization or China?

Tesla FSD experienced a serious word-of-mouth crisis from the long-awaited to the condemned. In fact, such a result is completely predictable. The real crisis that Tesla is bound to face is actually whether to "Americanize" or "China".

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Not long ago, Nikola, known as "Tesla in the truck industry", filed for bankruptcy protection in Delaware to explore how to sell assets. This new American power with a market value of Ceng Chao Ford has completed more than ten rounds of financing, with all the "national teams" in Europe and America behind it, and finally went to extinction.

This is the epitome of the new American forces. There is no shortage of fame, money and time. Even before the first car of Nikola was mass-produced, it received orders of more than 10 billion US dollars.

But these car companies all have one thing in common, touching new stories, technological innovations and breakthroughs, but they have no determination to build the car in a down-to-earth manner and keep the cost down, because this is the most difficult part.

The same was true of Tesla. It was not until the establishment of the Shanghai factory and the realization of localized production, which greatly reduced production costs and logistics costs, that Tesla came back to life, which is the biggest difference between Tesla and other new American forces.

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But then, Tesla still walked back to the old road. For example, knowing the rapid development of domestic intelligent driving technology, I just don’t want to bring FSD to China for training; Knowing that the square shell battery has become the absolute mainstream, Contemporary Amperex Technology Co., Limited and BYD are at the peak, still holding on to the 4680 battery that can’t be mass-produced for a long time; Knowing that the pure vision scheme has obvious defects, it is still unwilling to change.

Tesla’s core R&D team is still "remotely commanding" at the US headquarters, instead of coming to the front line to fight with opponents. This is very fatal. From banning Huawei to "buying" Tik Tok, the reality has proved that American technology research and development has gone into a misunderstanding. More often, it relies on politics to suppress opponents, rather than surpassing opponents in technology and service.

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If Tesla is completely "Americanized", it will follow the old path of Microsoft and Facebook, and eventually it will only become a vassal of politics. As a result, it will not make progress, and almost all of these technology companies in the United States have embarked on this path. However, "China" also means a huge challenge, which is also resisted by the current Tesla system.

In short, both roads are not easy to walk, but it is the point that Tesla has to choose.

(4) Kung Fu is angry

In November 2021, Tesla’s share price was once pushed up to 1.24 trillion US dollars, relying on the leading technology at that time and the price butcher knife that has been frequently raised. The whole market has a good expectation for Tesla. In January 2025, Tesla’s share price once again exceeded 1.2 trillion, relying on the success of Musk’s "betting" Trump, which lasted less than a month and then fell below 900 billion US dollars.

Tesla has begun to "politicize", so it is difficult to expect anything from its technology, and the failure of FSD is reasonable. Musk, who is about to be 54 years old, still has the courage to push back?

China’s "net text" is popular in China and spread overseas, which is called "cultural spectacle"

China. com May 14th-Fantasy, Cultivation of Immortals, Crossing … In the modern society with the rapid development of the Internet, a new novel type, online novel, has become a "household name". Network literature is very different from traditional literature in style, and it can cover a wide range. With the development of the Internet age, people’s demand for reading and entertainment is changing, and online novels are quickly loved by readers, surpassing other novel categories and becoming the first novel group in China.

Online novels are popular in China.

The Japanese Modern Business Network published an article on May 13th, saying that the online literature market is very active in China. The online literature market in China is much larger than that in Japan, with more than 300 million users. At present, China’s largest original literature website "qidian" has reached about 1.5 billion hits per day. This is equivalent to one month’s hits of "Become a Novelist", the largest original novel website in Japan.

The article also points out that the update speed and market scale of China’s novel websites are unmatched by Japan. The number of online novel authors in China is very considerable, with an average of more than 200 million words per day, and new works are constantly being put on the shelves. Some of the writers’ works will also be adapted into games, film and television dramas, etc.

The American Wall Street Journal also published an article saying that in China, the Internet is not only used to play video games, watch videos, etc., but it is also being vigorously promoted as another pastime-reading novels.

According to the article, online novels are becoming one of the powerful forces in shaping popular culture in China. It is also an attractive asset for Internet companies with film production companies, video websites and video game development companies.

According to the analysis of The Wall Street Journal, there are similarities between China’s online literature and the development model of e-commerce. The popularity of online novels may be because it meets the needs of "local science fiction, fantasy and romance" that are ignored by traditional domestic publishing houses.

Foreign authors join the creative army.

In May 2017, the starting point was launched internationally. It is aimed at overseas users, mainly in English.

The Reading Group (the parent company of the starting point network) recently released the "2018 Network Literature Development Report". According to the report, up to now, more than 12,000 overseas authors have registered internationally at the starting point, and more than 19,000 original English works have been reviewed. The world outlook structure of most of these works is deeply influenced by China’s online writings, which contains China cultural elements such as striving for blood and respecting teachers.

China Daily reported that foreign writers joined China’s online writing army because of their love for China culture and demand. Although China’s "going out to sea" is only a few short years, its global fan base has been considerable. For example, the users of Qidian International have spread all over the world, and the cumulative number of visiting users has exceeded 20 million. As early as 2016, the cumulative number of hits in the world of martial arts, the pioneer of online translation in China, exceeded 500 million. Some people even listed China’s online articles as "the four cultural wonders of the world" along with American Hollywood blockbusters, Japanese anime and Korean idol dramas. (Li Jinqiu)

Is Xiaomi a "technology" company after the disappearance of 600 billion yuan?

Yesterday, Xiaomi Group released its highly anticipated first-quarter performance report on the Hong Kong Stock Exchange.

The report, like a sharp knife, mercilessly reveals Xiaomi’s dilemma as a "technology" company:In addition to the profit growth and gross profit margin squeezed out by reducing various costs, almost all key indicators have declined at a high level.

The report shows that Xiaomi Group’s revenue in the first quarter of 2023 was only 594.77 billion yuan.It has decreased by an astonishing 18.9% year-on-year.

This means that compared with 733.52 billion yuan in the first quarter of 2022, Xiaomi Group’s revenue has shrunk by more than 13.8 billion yuan. If the time is longer, from the first quarter of 2021, Xiaomi camp will shrink by 30 billion yuan.

In other words,From nearly 90 billion in a single season to below 60 billion now, Xiaomi only took three years.

If we look at its profit source again, we will find Xiaomi’s embarrassment as a "technology" company:

Hardware business (mobile phone +IOT) profit: 400 million; The profit rate is 0.8%;

Mobile phone business profit:-200 million; Profit rate-0.6%;

IOT business profit: 600 million; The profit rate is 3.9%;

Internet business profit: 3.9 billion; The profit rate is 55.4%;

Did you find out?All the businesses add up to a fraction of the Internet business (mainly Internet finance).

In other words,Xiaomi constantly emphasized that "making mobile phones, we don’t make money" turned out to be true.

What’s even more frustrating is that,Even if the net profit of the mobile phone business is negative, the decline in Xiaomi shipments is greater than the decline in global smartphones.

The financial report shows that in the first quarter of this year, Xiaomi’s smartphone business revenue was 35 billion yuan, a year-on-year decrease of 23.6%.

Global smartphone shipments were 30.4 million units, a year-on-year decrease of 21.1%.

In terms of sales volume, in the first quarter of this year, Xiaomi’s global smartphone shipments were 30.4 million units, a year-on-year decrease of 21.1% compared with 38.5 million units in the same period last year.In other words, Xiaomi’s mobile phone shipments decreased by more than 8 million units year-on-year.

Specifically,Xiaomi’s "basic disk" mobile phone business is underperforming the broader market.

In addition, Canalys data also confirmed this view. In the first quarter of this year, global smartphone shipments decreased by 13.3% year-on-year, while Xiaomi decreased by 21.1% year-on-year.

Then, Xiaomi, the once great ship, is facing a violent swing, which inevitably makes people think:In this fickle business world, can it maintain its former glory?

01

When Huawei was in trouble, Lei Jun said that the task of impacting high-end was "I will come"!

Three years have passed, what’s the situation?

Objectively speaking, the customer unit price of Xiaomi has actually improved year-on-year, but compared with the previous month,The same configuration, the price is still "the lowest".

According to the financial report data, the average shipment price of Xiaomi smartphones in the first quarter was 1,151 yuan, which means that Xiaomi’s smartphone business is still dominated by thousand yuan machines, or the background color of thousand yuan machines.

What is more pessimistic is that in the same period last year, the average shipping price of Xiaomi mobile phone was 1189 yuan, which means that this year, the average shipping price has also dropped.It decreased by 3.2%.

The gross profit margin of other sectors is not high, for example, the gross profit margin of IoT and consumer products is 14.3%, and the overall gross profit margin is only 16.8%.

To sum up,We will find that Xiaomi is shouting "high-end" on the surface, but the actual operation is still "price war".

"Cost-effective" is firmly engraved in Xiaomi’s gene. On the basis of such brand tonality, "high-end" seems to be a strange circle.

In fact, whether a mobile phone can be called "high-end" is not just a matter of piling up hardware and building a cost-effective ratio, but a matter of "comparison".

Imagine that when consumers have experienced the high-end mobile phones of Apple, Samsung and Huawei, the operation is silky, the display is exquisite and the ecology is complete, then let them return to a relatively "cottage" experience, especially after the endless advertising pop-ups and inexplicably installed apps. Is it possible?

This is also the fundamental reason why Xiaomi’s "high-end" has entered a strange circle, consumers do not recognize it, and the capital market also expresses doubts.

02

In addition, the ecological chain created by Xiaomi has fallen into a bottleneck, which is also a microcosm of China brand’s pursuit of "big and complete".

Xiaomi’s eco-chain business is one of the core competitiveness of Xiaomi Group. Since Xiaomi went public in 2018, it must be mentioned at every conference. At present, Xiaomi has invested in more than 320 IoT eco-chain enterprises.

In addition, the richness of Xiaomi’s IoT and consumer products is eye-opening, except for digital home appliances, even pillows, towels and curtains have been covered.

From this, we can also find that Xiaomi is indeed a very complicated brand. It started with mobile phones. On the one hand, it is not like Apple and Huawei’s "unique skills" in scientific research and innovation on chips and systems; Unlike Samsung, it has "unique skills" in hardware; It’s even less like ov ploughing channels. ……

It is more like a platform, a left-handed supply chain, a right-handed consumer, and then it is filled with "small loan advertisements".

From mobile phones to patch panels, from bags to toothbrushes, from Valentine’s Day gifts to children’s toys. …..

However, it must be said that this "big and complete" business model is entering a bottleneck. Xiaomi’s financial report in the third quarter of last year showed that the revenue of IoT and consumer products business representing Xiaomi’s ecological chain fell by 9% year-on-year.

In fact, the fatigue of Xiaomi’s ecological chain has already appeared. On the one hand, in 2017, the revenue growth rate of Xiaomi’s IoT and consumer goods reached 80%.But in 2020, the growth rate of this business has dropped to 8.6%..

On the other hand,Xiaomi investment enterprises are declining in both quantity and quality.

The most important thing is that more and more Xiaomi eco-chain enterprises are trying to get rid of the influence of Xiaomi, create their own brands and improve profit margins.

This situation is still caused by the cost performance.

Xiaomi Group quickly built a complete ecological chain for itself through "investment+incubation", but at the same time, it was too "cost-effective", which led to the rapid growth of incubating enterprises and low gross profit margin.

Many Xiaomi’s supply chain enterprises laugh at themselves, earning "hard money" and choosing "solo flight", such as:

Cooperate with Xiaomi to move the purple rice of power supply and launch its own brand ZMI;; Roborock launched its own brand product S5 series of stone sweeping robot.

In this context, it is an inevitable choice for enterprises supported by Xiaomi to "millet".This has led Xiaomi to build its own supply chain or choose to support more "weak" enterprises.

This has led to the decline of the eco-chain business in the context of Xiaomi’s pursuit of "cost performance".

03

In addition, compared with Lei Jun’s high-spirited expression, "I will put all my reputation in life and personally lead the team to develop and manufacture Xiaomi cars."

Two years have passed, and there is no news about Xiaomi’s auto business.

However, it must be mentioned that the increase in R&D expenses of Xiaomi in the first quarter was mainly due to the increase in R&D expenses related to innovative businesses such as smart cars.The specific data is that the company’s innovative business expenses such as automobiles reached 1.1 billion yuan.

In addition, Wang Xiang, the president of the group, also revealed that Xiaomi’s total investment in building cars reached 1.865 billion yuan, of which the expenditure on innovative business such as smart cars reached 829 million yuan in the third quarter.

Investing a lot of money has created a huge amount of "gimmicks", which has attracted a lot of attention. At present, no results have been seen, which is obviously "playing big".

It is no small harm to Xiaomi’s own morale, consumer confidence and investors’ expectations.

In summary

We will find that although Xiaomi emphasizes "high-end" and "overtaking in corners" more and more, it seems to be more and more addicted to "cost performance". In the pursuit of large and comprehensive scale effect, the stall is getting bigger and bigger, and the business is becoming more and more diversified, but it is also increasingly unclear about the direction. ……

This also led to the bottleneck of Xiaomi’s business. Investors voted with their feet and fell into the embarrassing situation of being ridiculed by rice noodles as "a camera blows for one year".

In fact, consumers don’t want much, unique experience and persistent brand trust, which are real hard work and need time to verify.

Of course, Xiaomi’s story is not over yet, and suspense still exists. How to deal with the increasingly cruel market competition and how Xiaomi will rise will become the focus of the future.

Although Xiaomi said that he wants to lay out the "AI ecology", is this a "hot spot" or a "real investment"? At present, we still need bullets to fly for a while.

However, I still hope that Xiaomi can focus on its main business, adhere to everything in order to "enhance the consumer experience" and make Xiaomi mobile phone a business card made in China. Only in this way can it be stable and far-reaching.

2023 Guangzhou Auto Show: Ten new cars with the highest popularity, and tell it to the judge went into battle together.

The 2023 Guangzhou Auto Show officially kicked off on November 17th. As the final battle of this year’s A-class auto show, major manufacturers also brought their own ultimate products. According to statistics, the total number of cars exhibited at this year’s auto show reached 1,132, including 469 new energy vehicles and 59 new cars launched in the world. Such a dense number of new cars is really dazzling. It doesn’t matter. Today, we have compiled 10 must-see hot models at this year’s Guangzhou Auto Show, E-class and E-class. How to choose MEGA and X9? Who is harder in Prado? Let’s take a look.

1. The new Mercedes-Benz E-Class long wheelbase version VS the new BMW 5 Series long wheelbase version.

The new Mercedes-Benz E-Class long wheelbase version is open for pre-sale, and the pre-sale price range is 45.00-540,000 yuan.

The new domestic BMW 5 Series /i5 will be put into production in January next year.

E-Class Harmony, a pair of tell it to the judge, who have been in love and killing each other for many years, will appear at the same time at this Guangzhou Auto Show, which is bound to collide with a lot of sparks. First of all, in terms of styling, the new Mercedes-Benz E-Class still takes elegance as the main line, while the new BMW 5 Series has a larger size, so it has a stronger gas field.

In terms of body size, the length, width and height of the new Mercedes-Benz E-Class long wheelbase version are 5092/1880/1493mm and the wheelbase is 3094mm respectively. The length, width and height of the new 5-Series long wheelbase version are 5175/1900/1520mm and the wheelbase is 3105 mm. Obviously, BMW has an advantage in terms of size. As for the spatial performance, there is a suspense. We will also bring you a comparative experience if we have the opportunity.

The interiors of the two new cars also have the same characteristics, that is, intelligence and technology configuration. The new BMW 5 Series is equipped with a 12.3-inch instrument and a 14.9-inch central control screen, while the new Mercedes-Benz E-Class adopts a triple screen design consistent with Mercedes-Benz EQS. In terms of car system, BMW 5 Series is equipped with iDrive 8.5 system, and Mercedes-Benz E-Class is the third-generation MBUX intelligent human-computer interaction system, with excellent fluency performance. As for voice control, the two cars can also be regarded as keeping up with the pace of the times, and then we will bring you comparative tests when we have the opportunity.

In terms of power, it is actually the smallest difference between the two cars, which lies entirely in the difference in driving experience brought by different styles of training, but the more important point lies in the electrification of new energy. At this auto show, the new BMW i5 was unveiled together, and the heat was not lower than that of the fuel version 5 series, while Mercedes-Benz can only compete with EQE, so the newer BMW i5 seems to have more advantages in more aspects.

Many people ask which one is better, the new Mercedes-Benz E-Class or the new BMW 5 Series. In fact, the groups of the two cars are slightly different. One is more mature and the other is more dynamic. It can only be said that the one that suits you is the best, but if you want to ask how to choose BMW i5 and EQE, then I personally prefer BMW i5.

2. Ideal MEGA VS Tucki X9

Ideal MEGA: open blind subscription

Pre-sale price of Tucki X9: starting from 388,000 yuan.

MPV models have really staged a drama of salted fish turning over in the domestic market, and they are gone forever on the road to luxury and high-end. Ideal MEGA: MPV, which is the hottest and most talked about at the moment, is also presented at this auto show as yet we called and urged a thousand times before she started toward us and Kirin battery, which supports ultra-fast charging at 5C rate, with drag coefficient of 0.215Cd, dual-chamber air spring+variable damping shock absorber, and comprehensive battery life exceeding 700km, etc. It is worth talking about which one to take out alone.

In contrast, the popularity of Tucki X9 seems to be lower, but as the flagship medium and large MPV, the low-key of Tucki X9 does not mean that it has no bright spots. Global 800V, front and rear integrated aluminum die-casting, XNGP and other core technologies of boosting architecture, and it is also the only MPV with rear wheel steering as standard in the world. At the same time, as the first vehicle equipped with XOS Tianqi intelligent cockpit system, Tucki X9 will bring the application scenarios and travel experience of the next generation intelligent cockpit.

As medium and large MPVs, both cars are big men in terms of figure. The ideal MEGA has a length, width and height of 5350/1965/1850mm and a wheelbase of 3300mm, respectively. The length, width and height of Tucki X9 are 5293/1988/1785mm and the wheelbase is 3160mm, which is a little smaller than the ideal MEGA in terms of size data, but both cars are definitely big in terms of visual effects.

Ideal MEGA and Tucki X9 are bound to become hot spots in the MPV market in 2024. At present, the understanding of them is only limited to the static part. As for the dynamic performance, it is also worth looking forward to. What surprises will they bring? Let’s wait and see.

3, tank 700 Hi4-T VS brand new domestic Toyota Prado

Tank 700 Hi4-T: The pre-sale price is 700,000 yuan.

Brand-new domestic Toyota Prado: Open the reservation after the Spring Festival

At present, in the domestic market, the hard-core SUV may be able to compete with MPV. The 700 Hi4-T and the brand-new Prado are undoubtedly the two cars with the highest attention at this auto show. The appearance of the tank 700 Hi4-T will continue the "Mecha Technology" route. The length, width and height of the new car are 5090(5113)/2061/1952mm, and the wheelbase is 3000mm, which is adopted by the new car. In addition, the specifications of the front/rear tires of the new car are 275/60 R20 and 275/50 R22, respectively, with high ground clearance, and the approach angle and departure angle are expected to be greater than 30 degrees.

In terms of power, it is expected to be equipped with a plug-in hybrid system consisting of a 3.0T+P2 motor. As a reference, the fuel version will be equipped with a 3.0T engine with a maximum power of 265kW, and the transmission system is expected to match the 9-speed automatic manual transmission.

The length, width and height of the new Prado are 4920mm/1980mm/1860mm respectively, and the wheelbase is 2850mm (excluding the size of the external spare tire). The new Prado is a 7-seat SUV. After the last row is put down, the trunk can also have more storage space. At the same time, due to the hybrid of oil and electricity in Prado, the battery will be smaller and occupy less space in the car.

The comfort configuration of the new Prado is not bad, including seat heating/ventilation, steering wheel heating, mobile phone wireless interconnection, panoramic sunroof, 14-speaker JBL speaker, three-temperature zone air conditioning and so on. However, the display of interior materials and the sense of science and technology in the car are definitely not as good as China brand new energy off-road SUV.

The new Prado, which is about to be made in China, will be equipped with a 2.4T hybrid system of oil and electricity, and bid farewell to the large-displacement naturally aspirated engine. Its system has a comprehensive maximum power of 330 HP (243 kW) and a maximum torque of 630 Nm. Its parameter level is better than that of the fuel tank 500, but lower than that of the tank 500 Hi4-T. Compared with the vehicles in the new energy field, there is still a gap in power parameters.

In terms of off-road performance, the new Prado will be equipped with middle and rear differential locks, high and low speed four-wheel drive, which can amplify the torque. At the same time, the new car will also be equipped with multi-terrain control and creep mode. The maximum approach angle of the new car is 31 degrees, the maximum departure angle is 22 degrees, and the ground clearance can reach 221 mm. At the same time, the new car also provides a multi-terrain monitor to provide convenience for off-road users.

4, the new Toyota Camry VS the new modern Sonata

The new generation Toyota Camry is built based on TNGA-K platform. The new car adopts the latest design ideas of the brand, but some traditional elements have also been continued. The difference between the two different versions of the car is mainly concentrated in the front grille of the "big mouth". One is a honeycomb grid design, which highlights the sense of movement; The other is designed for banner trim, which looks more exquisite. The waistline design is one of its biggest design highlights. At the same time, the XSE version of the car adopts a roof design with a different color from the car body, creating a suspended visual effect.

In terms of interior, the new Camry will come standard with a 7.0-inch LCD instrument and an 8.0-inch central control screen. The size of the central control screen of the XLE/XSE version will be increased to 12.3 inches, with built-in wireless CarPlay and Android Auto interconnection. In addition, the new car will also be equipped with a wireless charging panel, and the top model will integrate a 10.0-inch head-up display function and a nine-speaker JBL stereo. According to different configurations, the interior materials will also be different. For example, the XSE model is equipped with red+black leather. In addition, it is reported that XLE and XSE models will have optional seat heating/ventilation function.

In terms of power, it is said that the new car will not launch a fuel version, and the whole system is a "powered version". The new car will launch a hybrid version based on the 2.5L four-cylinder engine, and provide two-wheel drive/four-wheel drive models respectively. Among them, the maximum power of the two-wheel drive model is 168 kW; The four-wheel drive version adds a drive motor to the rear axle with a maximum power of 173 kW.

The new generation of modern Sonata also adopts a new design language, and the penetrating daytime running lights and split headlights are impressive. In the future, the car will provide two versions, the regular version and the N Line, for consumers to choose from. In the interior, the car adopts an integrated screen design consisting of double 12.3 inches and increases the visual effect of the curved surface. With the brand-new three-spoke multi-function steering wheel, the car looks very textured. At the same time, the car will be equipped with a large skylight, a 12-speaker BOSE sound, and a number of adjustments in the main driver’s seat.

In terms of power, overseas models will provide five options, including 2.5T, 1.6T and 2.0L gasoline engines, 2.0L hybrid systems and 2.0L natural gas (LPG) engines. Among them, the 2.5T GDi turbo four-cylinder engine of N series is called "Theta III" engine and will be equipped with dual injection system. The transmission system will match the automatic gearbox and four-wheel drive system, which is likely to be exclusive to Sonata N.

5. Extreme Krypton 007

Officially opened the pre-sale, the pre-sale price: 229,900.

As the fourth model of Krypton brand, Krypton 007 is produced based on PMA2+ platform, and the design is personally handled by Stefan Sielaff team, which brings a comprehensive and refreshing visual effect. The car adopts the minimalist design of Hidden Energy, the front face is more rounded, and the design of the raised hood brings a sense of exquisiteness. ZEEKR STARGATE, the world’s first integrated intelligent light curtain with the largest 90-inch ultra-wide display area, is also the biggest highlight of the car.

The side of the car body adopts a coupe-style design, and the front and rear raised wheel eyebrow lines enhance the sense of muscle. Of course, the hidden door handle is not absent, thus improving the drag coefficient of the vehicle. On the tail side, the car adopts the popular penetrating taillight group, thus enhancing the visual layering of the tail. Extreme krypton 007 has a wheelbase of 2928mm and is positioned as a medium-sized car.

As for other highlights, Krypton 007 will be produced based on PMA2+ platform, and the lidar device can be seen on the roof. It is reported that the new car is also expected to be equipped with a double wishbone front independent suspension, 800V electrical architecture, Snapdragon 8295 chip and three laser radars, etc. It can be said that the high-end configuration of the whole family bucket exists.

6. Dongfeng Nissan explores land.

Will be officially listed in the first quarter of 2024.

Dongfeng Nissan Land Exploration was officially released at this year’s Guangzhou Auto Show. The new car adopts the latest family-style front face, and the large-size front grille is decorated with horizontal chrome trim strips, which are integrated with the headlights on both sides to make this car look very atmospheric and fashionable. At the same time, the three-stage air inlet design is adopted below it, which appropriately enhances the sense of movement of the vehicle.

On the side of the car body, the side shape of the new car is quite stable. One of the waistlines runs directly from the front light group to the tail light group, and with the raised lines of the front and rear wheel eyebrows below, the overall outline of the new car is concave and convex. On the tail side, the car uses a long and narrow headlight group, and adds a black plaque and brand LOGO in the center to create a good visual layering with the Pathfinder model name below.

In terms of body size, the length, width and height of the new car are 5130/1981/1767mm and the wheelbase is 2900mm respectively. In terms of interior, the new car adopts the very popular dual screen design, and the overall materials in the car seem to be quite kind and the seats are thicker. In terms of power, the new car is equipped with a 2.0T turbocharged engine with a maximum power of 185 kW.

Summary: There are many new cars at this Guangzhou Auto Show, and all the major manufacturers are in full bloom. These are the 10 key new cars that we have selected for you. It can be seen that new energy vehicles are still the main battlefield for major manufacturers to try their best to compete for beauty, and the hard-core cross-country car system is becoming more and more popular. Of course, there are many popular new cars besides them. Interested friends may wish to go to the exhibition site to experience it in person.

150,000 budget, Extreme Fox Alpha T5 vs Geely Galaxy E5 Decision Guide

The Extreme Fox Alfa T5 was officially launched on December 27th, 2023, and positioned as a medium-sized SUV. With the starting price of 155,800 yuan and the maximum battery life of CLTC of 660km as the selling point, it quickly got on the hot search list. The Geely Galaxy E5 is also positioned as a medium-sized SUV. With its rich configuration, it has quickly attracted consumers’ attention and achieved good sales. Then, for consumers with a car purchase budget of 150,000, these two models are undoubtedly very attractive. Below, let’s make an in-depth analysis and comparison of these two cars. Let’s compare the Alfa T5 520MAX and Galaxy E5 530km starship versions with similar prices.

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Extreme Fox Alfa T5 520MAX retains the traditional door handle.

The first is the appearance. The front face of the polar fox Alpha T5 520MAX adopts the "X" gene, which combines the "light" design. The headlight is composed of LED lines and inspired by "inductance". The front enclosure design is simple, which enhances the sense of exquisiteness. In addition, the car body adopts a hidden door handle, which looks more beautiful as a whole; The taillights are designed through, which perfectly fits the name "Alfa T5". Look at the Geely Galaxy E530km Starship Edition. The front face continues the family elements. Both the headlights and taillights have high recognition, and the overall outstanding sports are capable, and the medium-sized SUV is also stable. The side adopts the waist line and the shoulder line at the tail, which gives the whole car a sense of strength. The through taillights and tail shapes at the rear of the car are real and dynamic, which has a racing feeling.

Compared with the size, the space advantage of Alpha T5 is obvious.

In terms of dimensions, the polar fox Alfa T5 520max is 4690mm in length, 1936mm in width, 1650mm in height and 2845mm in wheelbase, and it is positioned as a medium-sized SUV. The Geely Galaxy E530km Starship Edition has a length of 4615mm, a width of 1901mm, a height of 1670mm and a wheelbase of 2750mm, and its positioning is also a medium-sized SUV. The length, width and height of the polar fox Alpha T5 520MAX are longer, so the polar fox Alpha T5 520MAX is more spacious in the interior space.

The New Experience of Extreme Fox Alpha T520MAX

As for the interior, the polar fox Alfa T5 520MAX adopts the T-shaped central control panel layout, and the car machine adopts the latest developed system of polar fox, which is slightly better than the Geely Galaxy E5 530km starship version in terms of performance, and supports the intelligent networking system of car networking and voice recognition function. In addition, the Extreme Fox Alfa T5 520MAX is equipped with a dual-spoke multi-function steering wheel and uses a gear shifting mechanism. The Geely Galaxy E530km starship version is relatively simple, and it also adopts the layout of T-shaped central control panel and is equipped with electronic arms.

Moreover, the Extreme Fox Alpha T520MAX is also equipped with a zero-formaldehyde and zero-benzene health anti-allergy cockpit, and the new "zero-formaldehyde and zero-benzene" materials and gutta-percha fabrics are equipped in every version of T5. From the test results, even under 50 degrees high temperature exposure, it is still as low as 0.06mg/ m3, reaching the formaldehyde limit standard of children’s rooms. The Extreme Fox Alpha T5 520MAX also has intimate settings such as 220V power socket in the carriage, steering wheel heating, rear seat heating, electric lumbar support for the main driver’s seat, and car karaoke. These functions are not available in the Geely Galaxy E5 530km starship version.

Support reverse discharge function

In terms of power and battery life, the polar fox Alpha T5520max has a battery capacity of 65kWh and a battery life of 520km. For the better choice of users, the polar fox Alpha T5 has also launched a 660 version of CLTC with a mileage of 660km. In addition, the 660 version of the Extreme Fox Alpha T5 also supports 800V overcharge, which can last 260km for 10 minutes and support reverse discharge with a maximum power of 3.3kw. The Geely Galaxy E530km Starship Edition has a maximum power of 160kw, a battery capacity of 60.22kWh and a maximum mileage of 530km. In terms of power and endurance, the overall advantage of the polar fox Alpha T5 is even greater.


As can be seen from the above, Alfa T5 520max is superior to Galaxy E5 530km Starship Edition in terms of health, space and comfort quality. Recently, Alfa T5 520max has also introduced 6,888 yuan of preferential benefits, which can be up to 31,888 yuan, which is nearly 2,000 yuan cheaper than Galaxy E5530km Starship Edition, comparable to the price of a mobile phone and an air conditioner.

Cadillac XT5 4WD version pre-sale, direct drop 120,000, only sold 279,900

In the field of luxury mid-size SUVs, the Cadillac XT5 four-wheel drive version has been attracting attention for its performance, design and driving experience. Recently, the Cadillac XT5 four-wheel drive version opened for pre-sale.Launched luxury, distinguished and platinum three configuration models. The official guide price is 399,900 to 459,900 yuan, and the limited-time pre-sale price is 279,900 to 339,900 yuan, with a direct discount of 120,000 yuan.Here’s a detailed look at its performance in terms of appearance, space, interior, and power.

Appearance:
The exterior of the Cadillac XT5 four-wheel drive version exudes an American flavor. The shield-shaped air intake grille on the front face is the signature design of the Cadillac family, and the black grid-like structure is matched with the surrounding chrome trim. On the side of the body, the lines are smooth and powerful, and the front headlights extend all the way to the rear, outlining the outline of the whole vehicle. The floating roof design adds a sense of style to the vehicle, which is matched by the large-sized wheels. At the rear, the classic diamond-cut design is still the highlight. The taillights are unique in shape, and the light strips inside are neatly arranged to echo the headlights.


In terms of body size, its length, width and height are 4813mm, 1903mm and 1682mm respectively, and the wheelbase reaches 2857mm.

Interior:
The design of the center console is simple and elegant, and a large-size central control screen is embedded in it, which integrates various functions such as navigation, multimedia, and vehicle settings. The air-conditioning control area below adopts the design of physical buttons and knobs, which is convenient for drivers to operate during driving. In addition, the car is also equipped with 126-color ambient lights. In terms of technical configuration, the Cadillac XT5 four-wheel drive version is equipped with an active noise reduction system, which can effectively reduce the noise in the car. At the same time, it also has a series of practical configurations such as panoramic sunroof, automatic parking, and adaptive cruise, which brings convenient and comfortable driving experience to drivers.


Power:
In terms of power, the Cadillac XT5 four-wheel drive version is equipped with a 2.0-liter turbocharged engine with a maximum power of 174 kilowatts and a peak torque of 350 Nm. The engine is also equipped with a 48V light hybrid system, which improves the smoothness of the power output and reduces fuel consumption to a certain extent. In terms of transmission system, it is matched with a 9-speed automatic transmission. In addition, the Cadillac XT5 four-wheel drive version is also equipped with a timely four-wheel drive system and "Hummingbird chassis" technology.


The sales volume of the 2024 XT5 in August is only more than 1,500 units, and the gap between it and,, and other models is still relatively large. So this four-wheel drive entry-level model directly makes a profit of 120,000 yuan, and the "one-off pre-sale price" below 280,000 yuan can also see the pressure of the manufacturer on sales. XT5 at this price, will you go to the store to test drive it? Welcome to leave a message in the comment area.

[China Science Journal] "Stars" report spring: New Year greetings from space.

  At the beginning of the Year of the Rooster, it is a happy day for people to get together and visit relatives and friends. Do you still remember that in order to explore the mysteries of the universe, in the past year, there were many more "China Stars" in the sky above us. On the occasion of the Spring Festival, China Science News/Science Network recorded the busyness of researchers around "China Star" from the perspective of first-person personification, and at the same time offered warm greetings from afar.
  Eye FAST: I’m doing a physical examination during the Spring Festival.

  Happy New Year, everyone. I am a 500-meter spherical radio telescope. My English name is FAST, and Jianghu people call it "Eye of the Sky".
  At the beginning of the new year, the flavor of the year is really strong. Everyone should be reunited with their families. I ushered in the Year of the Rooster with my fellow scientists this year. However, in the past few days of the Spring Festival, we have not been idle.
  Last September 25th was my birthday. With everyone’s attention and encouragement, I made my first panoramic appearance in my life, perfect!
  However, although I have been built, the scientist friend said that my performance index still needs to be debugged and optimized.
  During the big holidays, these scientists left their families to accompany me and give me a "physical examination" to protect my health and safety. I really want to thank them for their dedication to me. Now, I am sitting in the cave of Guizhou, looking up at the universe and enjoying myself.
  过去的一年里,我还要特别感谢大家对我的关心。今年,习总书记的新年贺词专门点了我的名,让我多少有些受宠若惊,未来,我还会继续努力,为人类解开更多宇宙谜题。
  说到宇宙谜题,我不得不说宇宙真大啊,奥秘真多啊!虽然我不能预言未来一定会发现哪些惊天动地的大成果,但是,我承诺将穷千万里之目,在宇宙边缘寻找中性氢,为人类重现宇宙早期图像;我将用一年时间,探索千颗脉冲星,建立脉冲星计时阵,并参与未来脉冲星自主导航和引力波观测。
  此外,我还将主导国际甚长基线干涉测量网,获得天体超精细结构;进行高分辨率微波巡视,检测微弱空间信号;参与地外文明搜寻;参与子午链工程,提高非相干散射雷达双机系统性能;将深空通讯能力延伸至太阳系外缘行星,将卫星数据接收能力提高100倍。
  我会努力的!(记者倪思洁采写)
  悟空:鸡年继续“猴犀利”

  丢丢丢……噔噔噔噔……噔噔噔噔……俺老孙来也!
  大家过年好!一直忙着找暗物质,春晚也没顾上看,但还是一定要给大家拜个年!祝你们鸡年吉祥!祝师父们和我鸡年继续“猴犀利”,早日揭开暗物质的神秘面纱!
  Many people ask me where I have flown, but in fact I have been circling the earth. This job is not as cool as you think, it won’t fly into the distant deep space of the universe, and repeating the work every day is to circle-collect information-circle-collect information …
  Yes, scientific research is so monotonous. In the vast space, a lonely idealistic monkey cries "high energy ahead" every day, and uses its eyes to identify the traces of dark matter.
  You must be curious about how I work in space. Simply put, I indirectly look for and study dark matter particles by detecting the direction, energy and charge of high-energy particles in the universe. I have a lot of amazing skills that only China has.
  I have been walking for 409 days on the way to learn from the scriptures, and I miss you so much! But I can’t cry, I want to keep the sensitivity of all loads … The masters said that I will work for at least 3 years, and if I am in good condition, I will work for 5 years or longer. It’s a bit like going to a space university and receiving a lot of information for analysis every day. If you send a paper, I will let you know as soon as possible.
  I receive 16G of information from the universe every day, which is almost equivalent to three or four high-definition movies. Over the past year, I have covered the whole sky and detected 1.9 billion high-energy particles. The masters praised me for my ability and said that my performance exceeded expectations.
  There are still so many puzzles waiting for me in the universe. Well, I’ll get the scriptures back.
  I know you all have a lot of questions about me and dark matter. Throw the question high into the air. I’m in 500 km low earth orbit and I’ll catch it. The first batch of scientific achievements will be released soon, and then the masters and I will answer them one by one. (Reporter Lu Qicai wrote)
  "Space Bee": Come and see BIGBANG.

  Hello, everyone, I am "the most beautiful little bee in space"-the "gamma-ray polarization detector" that went into space with Tiangong-2 Space Laboratory. My big name is Tianji, and my English name is POLAR.
  My "little bee" is not a hollow reputation. From the day Tiangong-2 was successfully put into orbit and the detector was turned on, I can be called a "model worker"-I kept an eye on the gamma-ray bursts in space 24 hours a day, and I didn’t dare to stop for a moment.
  As a dedicated "little bee", through my efforts, scientists have achieved fruitful results. Up to now, scientists have detected gamma-ray bursts, solar flares and pulsars from the data I provided, and have successfully conducted preliminary pulsar navigation experiments using pulsar signals. The results of my work have far exceeded the tasks assigned to me before going out to war.
  However, I still have great potential to be developed. Up to now, scientists have not completed the comprehensive test of my performance and the calibration of instruments, such as the calibration of instruments for measuring the detection efficiency of 1600 channels. Scientists have placed a lot of expectations on me. I think besides these "initial dreams", I should be able to bring you more surprises.
  While I don’t give up working day and night, my fellow scientists who are struggling with me are also very hard. Many people stick to their posts during the Spring Festival. Fortunately, with the developed Internet, they no longer have to stay in the laboratory and suffer from homesickness, but can stay with their families, access the server of the experimental team through the Internet, and monitor and analyze the data provided by me in time. Not only that, the friends on duty will keep in close contact with the whole team through WeChat group and always pay attention to my dynamics. (Written by reporter Wang Jiawen)
  Mozi: China Star’s China Heart

  Hello everyone! I am "Mozi", and at this festive moment to bid farewell to the old year and welcome the new year, I wish to pay a New Year call to my fellow villagers all over the country!
  Hey, didn’t you say Mozi was the philosopher 2400 years ago? Haha, I was named after him. Mozi once wrote: "the end and the body are out of order, but the former is also the most." The "end" he said is the smallest particle of matter, which has a wonderful fate with the concept of "quantum".
  Yes, I am a quantum satellite. I flew into space on the Long March II carrier rocket last August. I am not big, but I shoulder a very important mission: to realize quantum communication between satellites and the ground for the first time in the world, and to build a quantum secure communication and scientific experiment system integrating heaven and earth. On January 18th, I just finished the four-month on-orbit test, officially put it into use, and started three major scientific experiment tasks. At present, data is being collected.
  I am a "China Star", which was independently developed by China scientists. I have a "China heart" and sincerely hope that my motherland will stand on the top of global innovation; I also loved the "China Festival". Although I am in the distant space, I am still concerned about the lights at the beginning of the New Year!
  But don’t worry, I’m not alone. On the ground, I have five good friends-Xinglong Station in Hebei, Nanshan Station Station in Xinjiang, Lijiang Station in Yunnan, Delingha Station in Qinghai and Ali Station in Tibet. As long as it takes 90 minutes, I can circle the earth and "shake hands" with various ground stations through beacon light. The ground station emits red beacon light full of joy, and I report it with vibrant green beacon light. After shaking hands successfully, I can emit single photons and complete the corresponding quantum communication experiment. Every time I cross the border from a ground station, I have a quick glance at it in the early morning, but it takes only five minutes. The staff who are watching me will stay up late into the night and race against time to finish the experiment. You have worked hard!
  At the Chinese New Year Friendship Association of the scientific research team, talented scientists wrote and sang a song for me-"South Mountain South-Quantum Star". I was deeply moved by the lyrics: "He said that the beauty of the laser across the night sky was not as good as the first time he met you. Time is fleeting, and every second counts. If all the ground stations are connected, sweeping the night sky just to hug you. Get through the night, good night. " (Reporter Li Chenyang wrote)
  "Jade Rabbit": I go to work on the tenth day of the Lunar New Year.

  Hello, everyone, I am the "Yutu" on vacation, and I wish the people of the whole country a happy Spring Festival first!
  Wait, don’t give me a bad review yet. I know that state officials on duty can’t take vacations. But my sister Chang ‘e and I are both powered by solar cells. During the Spring Festival, the moon is just in the moonlit period, and we can’t see the sun, so we hibernate like animals.
  This is the fourth Spring Festival I have spent on the moon. At first, scientists didn’t expect me to live so long. They only designed a life span of three months for me. I finally stopped working on July 31 last year after experiencing abnormal control of the mechanism and many times of dormancy and awakening.
  Of course, the scientists have been very satisfied with my performance and praised me for overfulfilling my task, paving the way for manned landing on the moon in the future. I am very proud of the original achievements made by scientists with the help of my sister Chang ‘e and me, such as establishing the data processing method of optical camera detection and terrain reconstruction model, determining the geological age of lunar geological units and discovering new rock types.
  Now, the only "organ" that I can still work with Sister Chang ‘e is the moon-based optical telescope. This instrument has carried out nearly 5000 hours of sky survey observation and obtained more than 200,000 image data. Quietly tell everyone that the starry sky seen on the moon is definitely different from that on the earth. I hope you can come here and feel it for yourself!
  In 2015, scientists used the moon-based optical telescope to observe a special binary star named "V921 Her" and found the light curve of the overlapping binary star system. At the same time, scientists also put forward the upper limit of hydroxyl (water) density in the lunar exosphere according to the data, which is the best result in this field so far.
  The next day will come on the tenth day of the Lunar New Year. You can rest assured that we will be awakened by the intelligent system to start work on time at that time! Goodbye! (Reporter Gan Xiao wrote)
  Carbon satellite: I’m a small space carbon detector.

  Hello everyone! I am Yan Ru Song Yu, looks better than Pan An, and Cai Sai Conan. People in Jianghu call China’s first global carbon dioxide monitoring scientific experimental satellite-carbon satellite. I wish you a happy New Year in the 700-kilometer sun synchronous orbit. I wish you all a good year of rooster and become as awesome as me in the new year. Hahahahaha!
  Today is the fifth day of the first month, commonly known as "breaking the fifth day". People get up at dawn and clean up, which means to drive out all the "dirty" things. This is similar to my task. After the industrial revolution, the greenhouse gas emissions produced by a large number of fossil fuels showed explosive growth, which made the earth on which we depend face increasingly serious greenhouse effect.
  People in China pay attention to keeping accounts first. Scientists especially want to know how much carbon dioxide is, what is the "breakdown" of emissions in different regions, and what is the impact of greenhouse gases on climate change, so they sent me to space.
  Although I have only been in heaven for more than a month, I can’t compare with the previous "brothers and sisters", but I will try my best to give China people a long face with my high-precision "critical eyes" and my graceful "dancing". No, I just did a great thing years ago. I obtained the first set of high-resolution spectrograms of atmospheric oxygen and carbon dioxide absorption from space, which provided scientists with the first batch of observation data.
  Gnome male-",this first battle seems to be quite beautiful. Even the precious scientist Shu praised me: "The quality of the first batch of satellite payload data is good, and the satellite runs stably. The carbon satellite successfully obtained the first batch of data, which laid a solid foundation for scientists to carry out high-precision calibration and high-precision inversion of atmospheric carbon dioxide. "
  Anyway, the scientists are not resting on duty, so I have to go back to my post. You keep shopping ~ eating ~ shopping ~ eating, and I will quietly see how much carbon dioxide you can discharge … (Reporter Ding Jia wrote)
  (Originally published in the first edition of China Science Journal on February 6, 2017)

Ren Xianqi took care of Huang Hongsheng all the way, but the agent dared not tell him the bad news

Huang Hongsheng

Huang Hongsheng

     According to Taiwanese media reports, Huang Hongsheng died at home today (16th), was found dead, at the age of 36, the agent also confirmed the death, the news came out, shocked the entertainment industry, fans are sad and unbelievable, from the Rolling Stones period took care of him Ren Xianqi, at this time for the concert practice group, the agent dare not tell him the bad news.

  Huang Hongsheng used to be taken care of by Ren Xianqi when he was at the Rolling Stones. When Ren Xianqi went to Huang Hongsheng’s program to promote the concert, Huang Hongsheng said emotionally: "In the past, we were embarrassed to ask seniors for help, but Brother Qi will take the initiative to assist the younger generation!" In the past, he also wrote emotionally: "Brother Qi has always been very junior, and when Rolling Stones was his junior brother, he was also taken care of by his brother." At that time, he praised Ren Xianqi even more: "This kind big brother without airs, helped me teach a lesson again, if it’s ok, I will also be such a big brother in the future."

  Now that Huang Hongsheng died suddenly at home, the reporter called Ren Xianqi’s agent, who said that Ren Xianqi was currently rehearsing for the concert, "I haven’t let him know the news yet. He usually takes care of Huang Hongsheng very much. If he knew it, he would be very sad. I am afraid that it will affect his mood, so I will not let him know first.", also revealed that the last time the two met was on a show hosted by Huang Hongsheng. (ETtoday/article)

Tencent makes another move! 101 repurchases during the year

In the past two trading days, Tencent Holdings in the Hong Kong stock market has conducted the 100th and 101st repurchase operations of the year.

On November 22, Tencent Holdings disclosed that it repurchased 1.23 million shares on the same day at a cost of 401 million Hong Kong dollars. This is the 100th time Tencent has repurchased this year. On November 23, Tencent Holdings repurchased 1.23 million shares again. Since the beginning of this year, Tencent Holdings has repurchased 113 million shares, and the cumulative repurchase amount 37.382 billion Hong Kong dollars.

As of the close on November 23, Tencent’s share price was HK $329.2 per share, a cumulative rebound of about 17% from the phased low set on October 25. Based on the total repurchase price/cumulative number of repurchases, the average repurchase price of Tencent during the year was HK $332.03 per share, slightly higher than the current price.

All repurchased shares have been cancelled in the first three quarters

Statistics show that since last year, Tencent’s average daily repurchase amount has gradually increased. From the end of August last year to the end of May this year, Tencent’s daily repurchase amount was about 350 million Hong Kong dollars. But since June this year, Tencent’s average daily repurchase amount has increased to about 400 million Hong Kong dollars, evolving into "four hundred million".

In February 2021, Tencent’s share price reached a peak of HK $704.6/share, but due to the reduction of major shareholders, changes in international financial marekt and market concerns about the slowdown in the company’s growth rate, Tencent’s share price has been under pressure. At the end of October 2022, Tencent’s share price once fell to HK $187.29/share. Since then, Tencent’s share price has bottomed out and rebounded. In March this year, the share price was close to HK $400/share, and then continued to fluctuate. As of the close of November 23, Tencent’s share price was HK $329.2/share.

Since October 25, 2022, Tencent’s share price has risen by nearly 70%, which is related to the favorable policies of the Internet sector, the improvement of its own performance, and the spare efforts to repurchase.

Tencent Holdings disclosed in the 2022 annual financial report that in 2022, Tencent repurchased about 107 million shares, which cost more than 33.80 billion Hong Kong dollars. Since 2023, Tencent has repurchased 113 million shares, which cost 37.382 billion Hong Kong dollars. This means that the amount of repurchases this year has exceeded that of last year.

The general manager of a private equity firm in Shenzhen said that Tencent is a company with strong cash flow. In the past, Tencent bought many high-quality company assets through foreign investment, which drove the growth of the company’s revenue and total profit. Since the second half of 2021, Tencent’s foreign investment has declined, and its huge operating cash flow has been concentrated in share buybacks.

Tencent’s buyback partly hedged a sell by Prosus, South Africa’s largest shareholder.

On June 27, 2022, Tencent announced on the Hong Kong Stock Exchange that the company’s major shareholders, Prosus and Naspers, announced that they would start a long-term, open-ended repurchase plan, and the repurchase funds would be obtained through the orderly small sale of Tencent shares by the South African newspaper group.

"In April this year, Prosus deposited 96 million shares of Tencent into the Hong Kong clearing system. It is estimated that Prosus reduced its holdings of Tencent by about 1 million shares per day, accounting for about 4% of Tencent’s average daily turnover. This is roughly equivalent to Tencent’s average daily repurchase of about 1.20 million shares," said Zang Hailiang, director of investment at Yide Wealth.

Regarding the arrangement of share repurchase, Tencent said in the third quarter of this year’s performance report that in the third quarter of 2023, Tencent bought back 47.519 million shares at a total consideration price of about 15.30 billion Hong Kong dollars (excluding expenses) on the Hong Kong Stock Exchange, and these shares have been cancelled. In previous performance reports, Tencent also released similar content.

As of November 23, Tencent’s total share capital had fallen to 9.508 billion shares, close to the total share capital in May 2019. "According to the rules, the repurchase of US and Hong Kong stocks has to be cancelled, thereby reducing the total share capital, which can increase earnings per share while the profit remains unchanged. Over time, the value of the shares in the hands of Tencent’s remaining shareholders will increase," said a senior market person in Hong Kong stocks.

Performance returns to a high-growth track

This year, Tencent returned to the high growth track. Recently, Tencent disclosed the third quarter of 2023 financial report, revenue 154.625 billion yuan (both in RMB, the same below), an increase of 10%; non-international general accounting standards under the net profit of 44.921 billion yuan, an increase of 39%. In the previous two quarters, Tencent’s revenue and net profit growth were also double digits.

Tencent has gradually built up a diverse range of business segments, including value-added services, online advertising, financial technology, and enterprise services.

In the third quarter of 2023, Tencent’s value-added service business revenue was 75.748 billion yuan, an increase of 4% year-on-year, accounting for 49% of total revenue; online advertising business revenue was 25.721 billion yuan, an increase of 20%, accounting for 16% of total revenue; financial technology and Enterprise Services business revenue was 52.048 billion yuan, an increase of 16%, accounting for 34% of total revenue.

"In the third quarter of 2023, we achieved solid and high-quality revenue growth, significant margin improvement, and structured operating leverage. Emerging businesses such as WeChat Channels and Mini Games contributed to our high-margin revenue streams," said Pony Ma, chairperson and chief executive of Tencent.

In light of the development trend of the technology industry, Tencent’s focus is on laying out the AI model. "We are shifting our focus from businesses with less room for development to businesses with higher growth potential," said Pony Ma. "We are investing more in artificial intelligence models to give our products new functions and improve the ability to accurately recommend content and advertising. We are not only committed to positioning our leading artificial intelligence capabilities as a multiplier for our own business development, but also to create value for our corporate customers and society as a whole."

As of November 22, southbound funds held Tencent’s total market value of HK $2958.49 billion, accounting for 9.59% of the issued ordinary shares. However, with the continuous rebound of Tencent’s share price, southbound funds have recently been on the trend of picking up and selling shares in Tencent.