NIO released the 2023 Quarter 1 financial report Long Bridge US stocks premarket on June 9, Beijing time. Another large area of "spicy eye" performance, if the fourth quarter of last year is poor, the first quarter of this year is still a "strengthened version":

1. Poor sales and poor income:$NIO – SW.HK revenue 10.70 billion, and less than the market expectations, the 1 billion +, the sales difference is known, the key is because of the volume price, the old car, 75kwh entry models accounted for more, resulting in a unit price of only 297,000, significantly lower than market expectations.

2. Gross margin collapse: As the unit price fell below 300,000 for the first time, much lower than the previous guidance implied unit price of about 320,000,The gross profit margin of the car fell directly to 5% without impairment and other operations, far lower than the market expectation of about 10%. Obviously, the damage caused by the price reduction of the old model and the low gross profit margin of ET5, the capacity utilization rate in the process of platform replacement has particularly serious damage to NIO.

3. Guidance mediocre: second quarterGuidance sales 2.3 – 25,000 units, due to the known sales in April and May, implied sales in June after the release of the new ES6, finally began to stand on the 10,000, guidance implied sales in June should be about 11,000. And the company’s goal is that ET5 + ES6 double top stream can bring 20,000 monthly sales, this guidance is still significantly different from this goal.

However,$NIO. SG The price of implied bicycles behind the revenue guidance 87-9.40 billion may recover to about 320,000, the proportion of implied inventory vehicles may decrease, and the gross margin should recover.

4. NIO who is still "voting":Although the gross profit has dropped to less than 20,000 yuan, NIO wants to do a lot of things in R & D and needs to "warm up users". The investment in R & D and sales expenses has not seen obvious restraint. The operating loss rate hit a three-year high, reaching 48%, significantly higher than market expectations.

Dolphin Jun’s overall perspective:

For new forces with a very short period of new car explosions and repeatedly falling into the green and yellow of changing cars, Dolphin Jun naturally has a red label of "suspicious execution". Obviously, the current NIO is such a company.

Therefore, the previous share price of 9 yuan has fallen to the PS valuation level between life and death in 2019. Dolphin Jun proposed that companies with too big dreams and too weak execution cannot talk about bottom fishing lightly. By this financial report, the company’s share price was hovering at 7-8 yuan, and bottom fishing did not generate profits.

Of course, from the perspective of marginal changes, this performance is basically the bottom of NIO’s performance: because NIO’s double-top streaming car ES6 went on sale at the end of May and the ET5 hunting version went on sale in June, two promising cars began to contribute to full sales in the second half of the year, and all other models will basically transition to the NT2.0 platform. Sales and gross profit margins are unlikely to be worse, and will only go in the direction of improvement.

In the corresponding stock price, along with the improvement of sales volume and gross profit margin, there is also hope to slowly climb out of the bottom. But how much can be pulled up from the bottom, or can it return to the previous height? It depends on how much the original new power brother reflects on this wave of mistakes, and how much the execution improves. Dolphin Jun has doubts. At least to see the change of attitude first, you might as well listen to what NIO has to say in the phone call.

First, stronger than painting cakes, weaker than landing: NIO, it’s time to reflect

Let me remind you of the two core goals of NIO’s delivery this year:

1)NIO aims to deliver 250,000 vehicles this year.

2) By the fourth quarter, the monthly sales should stand firm 30,000 vehicles: the two pillar cars ET5 + ES6 have a total monthly sales of 20,000, ET7 + ES7 + ES8 have a total contribution of 8k-10k vehicles, and the two coupe EC6 and EC7 have a total monthly sales of about 2k vehicles.

Goals vs reality, let’s compare:

1) By the end of the first half of this year, the delivery was probably on 55,000 vehicles, barely completing a little more than 20% of the annual target. In the case of just climbing 10,000 in June, it is equivalent to 32,500 monthly delivery in the second half of the year, which means that the hope of achieving the 250,000 goal for the whole year is very slim.

2) Monthly sales 30,000 target vs May 6k reality: In May, due to NIO’s two top-class models – ES6 replacement and ET5 hunting car to be released, the new ES8 was launched in June and EC6 was launched in July; the new EC7 was relatively niche, and it was just launched and basically did not contribute to sales;, in addition, the market demand for ET7 and ES7 models that are not being replaced is weak, and the final result is that NIO sold a mere 6,155 units in May, even lower than in April.

On the list of new car makers in May, the original first brother has almost slipped to the bottom.

Fortunately, looking ahead, it should be the worst time for NIO nowFrom the perspective of the release rhythm of the model, NIO’s two promising contributions to large sales ET5 and ES6:

ES6: As the best-selling SUV in the NIO model matrix, on May 24 this year, NIO released an updated version of ES 6 (competitors mainly include Model Y, L7, etc.), and deliveries began that night.

According to market survey information, within 72 hours of ES6 release, the average intention of a single store was 90 orders, 20 prepaid orders, and ES6 contributed 60-70% of the incoming traffic. Preliminary data seems to be good.

2.) ET5 prey version: released on June 15 and delivered in the same month ET5 prey version, prey version will optimize the current ET5 rear space, it is estimated that part of the original wait-and-see ET5 lead.

After the two NIO top-class models are all launched in June, the monthly sales of tens of thousands is a reasonable expectation for the market. So from this quarter, the second quarter sales guidance given by NIO 2.3-2 5,000 vehicles are only within expectations.

Due to the sales volume of 6.7k in April and 6.2k in May, this guide implies that the sales volume in June is 11,000, which is basically the same as the market expectation of 10,000 vehicles in June. There is no further shock, but it is obviously not a surprise.

Overall, NIO has not really exploded in this cycle of car replacement, from new cars such as ET5 to the present. Compared with the ideal replacement cycle, the replacement time of NT2.0 models has been delayed for too long, and the problem is still obvious.

When the automotive market had long since entered the era where demand was king, NIO wanted too much, and its execution was still stuck in the era of "supply is king", completely unable to keep up with its peers who were crazy about rolling in.

Finally, from the perspective of the actual delivery volume in the first quarter, only 31,000 vehicles were achieved, barely reaching the lower limit of the original target 3.1-3 3,000 vehicles.

Fatal Expectation Spread: Gross Margin Revisited

Behind the poor sales volume, the gross profit margin was pulled again, and the severity exceeded the one-time impairment 1 billion due to "inventory impairment provisions, accelerated depreciation of production equipment, and loss of old 866 purchase agreement" in the first quarter.

In the first quarter of this year, NIO’s gross profit margin of automobile sales was only 5.1%, while the gross profit margin of automobiles 1 billion one-time factors was 13.5% in the last quarter, while the market’s expectations for the gross profit margin of automobiles in the first quarter were basically in double digits, basically between 10% and 12%.

Specifically, consider the bicycle economy.

1) In the first quarter, bicycle revenue hit a record low, falling below 300,000 for the first time, only 297,000, and the cost of bicycles directly fell 70,000.

Of course, the reason is also obvious. During the new car replacement period, the old 866 model has exhibition car clearance, national subsidies, and financial discounts, etc.; while the unit price of the new ET5 itself is lower than that of the previous models, the gross profit margin is also low, and the average price decline is normal.

2) Now that NT1.0 is converted to NT2.0, the intermediate capacity utilization rate is very low, which will also drag down the gross profit margin; the cost of a bicycle cannot go down synchronously with the price of a single car, and the gross profit of a bicycle is further reduced by 3,000 yuan compared with the fourth quarter, and the gross profit margin is directly pulled from 6.8% to 5.1%. The standard gross profit margin for car manufacturing should be around 20%, which is too large.

Fortunately, looking ahead, NIO couldn’t be any worse.

The company’s guidance for the second quarter revenue is between 87.4 and 9.37 billion. Dolphin Jun’s estimated bicycle revenue should be about 32.5-33 million, and by the end of the second quarter, basically all NIO models have been transferred to the NT2.0 platform.

In addition, although the overall price of lithium carbonate has reached about 300,000 from the beginning of the 190,000, compared with the previous 500,000, there is still a trend to fall, and the decline in battery costs will also help NIO to ease the cost pressure.

Of course, under the brand tone of NIO’s "no price reduction", the real increase in gross profit margin still depends on whether NIO really reaches the target of 30,000 monthly sales and pulls up the capacity utilization rate. And on this point, Dolphin Jun is still skeptical:

1) In terms of the current trend, the Chinese luxury car market above 30w seems to have a relatively tenacious vitality of fuel vehicles, and the penetration rate is relatively slow. At present, it is less than 20%, which is not as good as the overall pure electric penetration rate.

2) In the absence of insufficient facilities such as fast charging/power exchange, when pure electric luxury cars further go out of first-tier cities such as Shanghai and further penetrate into the lower-tier market, it seems that there is no ideal range extension model that can better target user pain points.

Third, the income pulls the hips, the natural result of poor sales

NIO’s revenue 10.70 billion in the first quarter, growing by only 8% year-on-year, significantly lower than the market consensus expectations 11.60 billion, clearing inventory and other low unit prices are the core issues.

The only thing that came up a little bit this quarter was auto revenue other than auto sales, which hit 1.45 billion this quarter, a lot more than the market expected 11-1.20 billion.

NIO’sOther business revenue sources primarily include revenue from the sale of energy and service packages, as well as revenue generated from embedded products and services that go hand in hand with vehicle sales, such as charging stations, in-vehicle internet connectivity services, and more.

The company has always maintained a high-end strategic positioning, hoping to provide better service and experience to car owners in terms of brand management and user community through better gross margins.

Data source: company earnings, Long Bridge Dolphin Investment Research

Data source: the company’s official website, Long Bridge Dolphin Investment Research

In addition, at the Berlin conference of NIO last October, the overseas models were mainly charged by fixed lease and floating subscription. For example, the rental time provided by the fixed rental fee is generally 1-5 years, and the fixed monthly rent is adopted. For short-term flexible cars, monthly subscriptions can be used. Short-term subscriptions can be cancelled at any time two weeks in advance. Vehicles can be replaced at will, and as the age of the car increases, the monthly fee will be reduced accordingly.

The additional growth in other revenue this quarter is expected to be related to NIO’s overseas sales growth: from January to April, NIO sold more than 150 vehicles in Germany, more than 184 in Norway, and more than 450 worldwide, which should contribute to this part of the revenue.

But the problem here is that, because these markets are in the early stages of development, when they contribute revenue, they basically lose money early on. So the rest of the business saw revenue increase this quarter, but the losses were also severe: less than 1.50 billion revenue in the first quarter, costs were almost 1.80 billion, and the gross loss ratio was 21%.

IV. Gross profit is almost "zero"

If the fourth quarter NIO gross profit was miserable, the first quarter was even more miserable, because other income business directly gross loss, and the car sales business sold cars 9.20 billion, only earned less than 500 million gross profit. The overall group level gross profit is only 160 million, no better.

Invest "a lot of money"

Although after subtracting external costs, only gross profit 100 million, but expenses are not less: R & D expenses 3.10 billion, basically within the normal range between 30 and 3.50 billion of the company’s original quarterly guidance; sales and administrative expenses 2.45 billion, just a little less than the market expected 2.70 billion.

Overall, due to the fact that NIO wants to do too many things and has too many dreams in R & D, the possibility of cost reduction in R & D is very small. So far, I have not seen it openly reflect on cost reduction and efficiency like Xiaopeng.

In the sales system, NIO has always been a "warm user" approach, and sales have not seen very clear signs of control.

Six, NIO has passed the life and death tribulation again

The same painting style as the fourth quarter, but it came more tragically: delivery pulling hips, income pulling hips, gross profit margin pulling hips, cost and investment rigidity, and operating profits are hotWhat is it?

The single-quarter operating loss 5.10 billion; the operating loss rate was 48%, a new high in the past three years.

Summary:

In the eyes of Dolphin Lord, internal reflection and rapid adjustment in the current state of NIO may be more important than boasting and describing the grand blueprint of 5-10 years.

China Consumer News Fuzhou News(ReporterZhang articleIn order to deeply understand the relevant situation of e-commerce enterprises, grasp the real situation of the quality of goods and services they provide, safeguard the legitimate rights and interests of consumers, and enhance the sense of service and social responsibility of the e-commerce industry. The Fujian Provincial Consumer Committee actively builds a "zero-distance" communication bridge between enterprises and consumers, carries out "safeguard safe and unimpeded consumption" fresh food e-commerce, large-scale supermarket consumption observation activities, and strengthens social supervision.

On March 9, the Fujian Provincial Consumer Committee, together with the Fuzhou Municipal Consumer Committee, the Gulou District Consumer Committee, and the Cangshan District Consumer Committee, organized consumer rights protection volunteers, consumer representatives, and news media to enter the Yonghui Supermarket Binjiang Jinrong Store, Yonghui Life APP Binjiang Jinrong Warehouse, Walmart Sam’s Club Store, and Sam’s Club APP online delivery and picking warehouses to carry out "zero-distance" consumption observation activities around fresh food e-commerce and large-scale supermarket food safety, personal information security, convenient consumption, care for elderly consumers, and consumption upgrades.

On March 12, the Fujian Provincial Consumer Committee and the Putian Municipal Consumer Committee organized a group of more than 30 consumer representatives, consumer rights protection volunteer representatives, media representatives, and government department staff to walk into the Xingsheng Preferred fresh food e-commerce Fujian Station. Consumers were concerned about "how to deliver fresh dishes quickly" and "how to ensure the quality of goods and food safety". Representatives of the observation team communicated with enterprises one by one on issues such as logistics distribution, quality control, fruit and vegetable pesticide residues, and handling of returned goods that consumers are concerned about. Combined with the experience, they put forward opinions and suggestions for enterprises.

Community fresh food e-commerce, as an emerging sales model, has been accepted by more and more consumers, but consumers are still relatively unfamiliar with how enterprises operate, whether the quality of goods is controlled, whether logistics distribution is timely, and whether after-sales services can be guaranteed. Through the fresh food e-commerce and large-scale supermarket series of consumer observation activities, the Fujian Provincial Consumer Committee has opened the door for consumers to observe and supervise, and consumers have directly communicated their problems and needs to enterprises, which has enhanced the mutual trust between consumers and enterprises. Consumers have exercised their right to know and supervise through "zero-distance" observation and supervision, not only understanding the relevant knowledge of fresh food e-commerce, but also boosting their confidence in consumption with confidence. At the same time, it also further urges operating enterprises to build a solid safety bottom line, abide by the law and operate with integrity, promote the formation of a consumer safety consensus in the whole society, and promote the sustainable and healthy development of the consumer market.

In order to further supervise e-commerce enterprises to operate in accordance with the law, strengthen the sense of corporate responsibility, and improve the effectiveness of early warning and resolution of consumer contradictions. On March 14, the Fujian Provincial Consumer Committee and Meituan Company signed a strategic cooperation agreement. The two sides reached a cooperation consensus on jointly carrying out anti-food waste publicity and advocacy work, building and maintaining a green channel for the handling of consumer disputes, conducting research and early warning on hot issues of online consumption, conducting research on consumption big data in the field of life services, and enhancing the influence of consumer rights protection work in Fujian. Meituan (including Meituan takeaway, Meituan Preferred, Meituan Wine Brigade, Meituan to the store catering) made a solemn commitment to the majority of consumers on the same day: to further enhance the merchant’s food safety awareness, optimize distribution safety, and promote high-tech contactless distribution methods such as smart dining cabinets; to formulate the "Meituan Preferred Platform User Service Agreement", "Return and Exchange Policy", "Meituan Preferred Genuine Guarantee Specification" and other systems, promising to provide consumers with platform services such as "bad fruit return" and "lightning refund", establish a professional customer service team, and timely intervene to deal with various complaints between consumers and merchants; jointly guide platform merchants to enhance consumer rights protection awareness, and improve the quality of Meituan platform enterprise after-sales services Efficiently handle issues reported by consumers.

　　On October 24th, Uber invited some customers to participate in the closed beta before going online to experience the new "Uber Uber China" app in depth.

　　Uber insiders have previously revealed that this new app will combine the most popular features of Uber and Didi in one. The first version is the most concise version, and it will continue to be upgraded and optimized in the next few months. Let’s try it out first and see what changes this "new Uber" has made.

　　Before talking about changes, let’s talk about what hasn’t changed:

　　First, the minimalist aesthetic. Everyone’s favorite Uber, clean interface remains the same.

　　After the download and installation are completed, the icon still maintains the style of the original version, the only difference is that the word "new" is added in the lower right corner of Icon, which is different from the old version in a simple and clear way.

　　From the surface, the logo and naming of the original app are the same as before, and the login process has not changed.

　　There will be a seamless transition between the old and new apps. Uber’s existing users in China will be able to continue to log in with their original accounts, and most users will no longer need to re-enter their passwords and bind payment methods when using the new app.

　　The taxi process has not changed. Get off the bus and pay or just leave. The payment method is secret-free payment…

　　Everything is the same. So where is this new Uber app "new"?

　　A closer comparison of the old and new versions of Uber will reveal that some of the more obvious changes are that the Uber app has added many functions on the Didi app, such as WeChat docking, online real-time customer service, etc., but also "missing" some functions and modules in the old version of the app, such as globalization function.

　　The first point is faster. The more obvious user-related change is that the download package size is the previous (iOS) and (Android).

　　The overall feeling after opening the new app is that it feels a lot faster. The new version loads extremely fast, and the jumping between pages is smoother than before.

　　This feeling is demonstrated after querying the properties.

　　The relevant attributes show that the installation file of the original version of the Uber App has reached 91MB, while the newly downloaded Uber App is only 22.6MB in size. The Android download package has also changed from 21.2MB to 10.6MB, and the installation package size is only 1/4 of the original download package size.

　　It is speculated that this can be achieved for a variety of reasons: because the Uber interface and product line are relatively simple, without the need for so many modules, and the technology and methods of the product team are different from those in the past.

　　It is revealed that in addition to the smaller download package, the new app’s memory, traffic, and power will be more economical in the past, and the page jump speed will also be faster.

　　Second: Add real-time online manual customer service

　　The help page is connected to real-time online manual customer service.

　　As a veteran user of Uber, in the past, although seeking complaints and suggestions could be reported through the message in the app, although this method has become very popular abroad, Chinese consumers are not used to it. Didi customer service has telephone customer service, so it can be expected that the merged Uber will also provide telephone customer service.

　　The new version adds "vehicle color information," a feature that is also available on Didi’s app but not previously available at Uber, and can help taxi riders see vehicles at first glance.

　　Fourth, it is easier to communicate with the driver. To communicate with the driver, you can leave a message in the app, no longer just rely on phone calls.

　　In the past, Uber was used to connect with drivers, and by "contacting the driver", the system would dial the driver’s phone number. In some cities of Uber, some cities have previously been able to "talk" with drivers by leaving messages in the app.

　　The fifth change is that after a year and a half, WeChat has finally developed the new Uber. You can use WeChat to share routes and recommend friends for rides

　　The safety of online car-hailing has always been everyone’s top concern. The "share real-time itinerary" function was first launched by Uber. Previously, on the Uber app, real-time online itinerary webpages could be shared by text message, and family and friends could know the real-time location of passengers by clicking on the webpage.

　　The new app still maintains this function, but WeChat and QQ channels have been added to the sharing channel, allowing users to share their real-time routes in more ways.

　　WeChat’s overnight forceful entry into the Uber app is unexpected, but it seems reasonable. In addition to sharing trips, you can also use WeChat and QQ to recommend ride discounts to others, which is also a function that Uber’s old app does not have.

　　Sixth, focus. The new version currently only retains two product lines, "People’s Uber +" and "Preferred Cars", focusing on the sharing economy and compliant vehicles

　　The interface, the map, the familiar red car, the estimated time to prompt the estimated arrival of the nearest vehicle, and the "Click to use the car" button all maintained the original style, while the function keys below were streamlined to the greatest extent, retaining only "People’s Uber +". (Including carpooling) and "Preferred car" two main businesses.

　　In the past, Uber has had different types and numbers of product lines in various cities (People’s Uber, Preferred Car, Privilege Car, Cross-City Car, 7-Seater Car, etc.). It is known that after the launch of the new app, most cities across the country have only temporarily retained the People’s Uber + and Preferred Car product lines, and other product lines may be added in the future.

　　The most significant change is that foreign users may be affected.

　　Uber’s new app is "missing" some features and modules from the old version of the app, such as temporarily unable to use overseas, missing the English version of the interface and temporarily unable to bind international credit cards. According to internal sources, these features are expected to be gradually improved in future upgrades.

　　As we all know, in the past three decades, Suzuki has been a great success in the Chinese market with its environmental protection + small car strategy, winning the reputation of energy conservation and environmental protection. To take a recent example, in the 2014 average fuel consumption of passenger car enterprises announced by the Ministry of Industry and Information Technology recently, Changan Suzuki won the energy-saving championship among nearly 100 large domestic passenger car enterprises participating in the publicity with the stunning data of 5.8L/100km.

　　Suzuki’s perseverance has provided an opportunity for Suzuki to usher in a new round of leaps and bounds.

　　With the increasing air pollution caused by factors such as motor vehicle displacement in recent years, advocating energy conservation and environmental protection has become a consensus of the whole society. Especially in this year’s government work report, it is clearly stated that it is necessary to "fight the tough battle of energy conservation and emission reduction and environmental governance" and "control motor vehicle exhaust". The attention of the national level and the improvement of environmental awareness of ordinary people also call on car companies to fulfill more social responsibilities and introduce greener and more environmentally friendly products through various means such as innovative technology.

　　It can be seen that Suzuki’s car-making philosophy and long-standing efforts coincide with the general trend of today’s China. Especially for Changan Suzuki, which has raised "energy conservation and environmental protection" and built "low-energy-consuming and high-quality" cars to the height of its corporate mission, the weather, the location, and the people are all available. Good wind is waiting for Kunpeng to take advantage of!

　　[Autohome News] On June 9, Geely (|) debuted at the 2023 Chongqing Auto Show. The new car launched a total of 5 configurations, and the price range is 13.87-17 3,700 yuan. As the first model of Geely’s new mid-to-high-end new energy series, Galaxy L7 is equipped with a plug-in hybrid system composed of a 1.5T engine + a 3-speed DHT gearbox. The comprehensive cruising range of CLTC working conditions reaches 1370km. The new car is positioned as a compact SUV, and competitors are targeting BYD Song PLUS DM-i and other models.

　　Looking at the new car, the Galaxy L7 adopts the design language of "Galaxy Light". The front of the car is designed with a closed grille, and the front of the car looks very full through smooth curves. In addition, the new car also incorporates popular design elements such as through light strips and split headlights to make it look very avant-garde. In terms of body color, the new car will be available in six body colors, namely Morning White, Midnight Black, Dawn Grey, Clear Sky Blue, Twilight Mountain Purple and Galaxy Colorful White.

　　From the side, the new car uses a two-tone body design to create a floating roof feeling, and through the smooth line design to make it look like a crossover SUV, enhancing the appeal to young consumers. In terms of body size, the length, width and height of the new car are 4700/1905/1685mm, and the wheelbase is 2785mm. In terms of the tail, we can see that the through taillights, large-size spoilers and diffusers are not absent. At the same time, the lower enclosure echoes the design of the two ends of the taillights, which looks very dynamic.

　　Entering the car, the new car will be equipped with a combination of 10.25-inch instrument + 13.2-inch central control screen + 16.2-inch co-pilot screen as standard. In addition, the new car will also be equipped with an 8155 chip and a Galaxy N OS system. The operation mode of the central control screen is very close to that of a smartphone, and it also supports gesture control and a four-zone intelligent voice system. The overall technological sense is outstanding. In addition, the new car can also be upgraded with a 25.6-inch AR HUD display to further meet the needs of different users.

　　In addition to the functions of electric adjustment, heating, ventilation, and memory, the main driver’s seat is also equipped with physiotherapy functions, and the passenger seat is also equipped with electric leg supports. At the same time, the car also supports cinema mode. When turned on, the rear seat will automatically recline to a comfortable angle of 125 degrees. In addition, the new car is also equipped with 11-speaker Infinity audio, car fragrance, negative ion generator, mobile phone smart Bluetooth key, and L2-level driving assistance.

　　In terms of power, the new car will be equipped with a new generation of Raytheon Electric Hybrid 8848 system, which is composed of Raytheon 1.5T four-cylinder hybrid special engine + 3-speed variable frequency electric drive DHT Pro (the motor uses P1 + P2 scheme). The system has a comprehensive maximum power of 287kW (390 horsepower), a comprehensive maximum torque of 535 Nm, and an acceleration of 0-100km/h of 6.9 seconds. In addition, the new car has a pure electric endurance of 55km and 115km respectively (CLTC conditions), corresponding to a comprehensive cruising range of 1310km and 1370km respectively (CLTC conditions), a comprehensive fuel consumption of 2.35L/100km and 1.3L/100km respectively (WLTC conditions), and a power loss fuel consumption of 5.23L/100km (WLTC conditions). (Text/Autohome Zhang Xiaodan)

"@China Star Jump" star coach Tian Liang appeared on the 10-meter platform

　　In 2013, Zhejiang Satellite TV China Blue made every effort to create the third and final work of the variety show "China Trilogy" – the large-scale star diving reality show "China Star Jump – Celebrity Splash" premiered tonight! Diving Prince Tian Liang will serve as the star leader and join hands with Cai Zhuoyan, Cai Yan, Gao Hu, A Bao, and the cattle to meet you!

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　In "Life Apocalypse", Yan Ni and Hu Ge talked about the love between siblings. The intimacy scenes between the two were frequent and explosive, and the kissing scenes were bold and eye-popping. The netizens called out "to the police," "I can’t accept it, it’s a violation!" "The picture is too beautiful to see!" Even Hu Ge’s fans left a message on Weibo: "My heart has been broken into slag."

　Yan Ni and Hu Ge’s TV drama "Life Apocalypse" is on the air, in which Yan Ni and Hu Ge talk about their sister-brother love. The two make out scenes frequently and powerfully, and the kissing scene is bold and eye-popping. The netizens called out "to call the police", "I can’t accept it, it’s a violation!" "The picture is too beautiful to watch!" Some fans of Hu Ge even left a message on Weibo: "My heart has been broken into slag."

　Yan Ni in "Zhang Xiaowu’s Spring" and William Li’s love frenzy, in "Life Apocalypse" and Hu Ge desperate love obsession, in the new drama "Wang Dahua’s Revolutionary Career" and partner 11 years younger than her actor Zhang Bo, no wonder some netizens ridiculed: "Yan Ni is simply a winner in life among mature actresses."

On February 17th, a video about a BYD new energy vehicle exploding and burning on a trailer in Yantai, Shandong Province was circulated on the Internet. According to the video, the towed car on the trailer started to emit smoke, then sparks began to flash at the bottom of the car, accompanied by crackling explosions, and finally it began to burn violently, and the whole car was quickly burned beyond recognition.

BYD Tang DM-i exploded and caught fire during consignment.

According to eyewitnesses, the incident occurred at about 1:10 pm on the 17th, near the East Yard of yantai mountain hospital, Guanhai Road, lai shan. At the time of the incident, the trailer was waiting for the green light at the intersection, but the bottom of BYD’s new energy vehicle towed by the car suddenly splashed with sparks, and there was a crackling explosion. Then smoke billowed, which ignited a fire, instantly wrapping the car body, and the car owners in the same industry drove away. At the critical moment, a nearby sprinkler arrived in time to put out the fire, and the fire was completely extinguished by the firefighters who followed, but at this time, this new energy vehicle had been burned to only one body.

At the scene of the accident, Yantai fire rescuers who came out to the police rescue told the verification media that fortunately there was no one in the car at that time and the cause of the fire was under investigation. BYD’s official customer service only said in the next day’s inquiry that the relevant information has not been received, and the specific reasons are still unknown, and it is necessary to wait for the investigation results to determine.

At present, it is not clear whether the car was consigned after the accident or failed to be consigned by itself, so it is impossible to analyze and define the main causes of its spontaneous combustion and fire. However, according to the live video, it can be found that sparks are constantly flashing at the bottom of the vehicle and crackling explosions are heard at the initial stage of the fire. From this, it can be roughly determined that the battery is indispensable for the violent combustion, and even the fire site may be the battery.

Judging from the body of the live video, it should be BYD Tang’s 2021 DM-i model that caught fire. The car was officially launched during the Shanghai Auto Show in April 2021. There are three models in total, and the price range is 189,800-216,800 yuan.

Tang DM-i is a heavyweight model introduced by BYD to replace the fuel version. According to the official statement, "it took nine years to finally produce this subversive model of Pratt & Whitney Volkswagen". The car is equipped with BYD plug-in hybrid system, which is composed of a turbo-charged 1.5Ti high-efficiency engine dedicated to Xiaoyun-plug-in hybrid of Miller cycle and an EHS electric hybrid system, and adopts Ferrous lithium phosphate "blade" battery dedicated to BYD hybrid.

Blade battery is an innovative product that BYD is proud of in the field of power battery. Tang DM-i is equipped with a power Ferrous lithium phosphate "blade" battery, which is different from the lamination process of BYD EV models, and adopts a winding process. Each group of blade batteries has a biscuit-shaped pole core, and a plurality of battery cells are integrated in series inside each pole core, while the whole battery pack is composed of a plurality of pole cores connected in series, and finally packaged into a "blade" battery. One of the outstanding advantages of this battery is that its heat dissipation capacity is good, and the battery uses Ferrous lithium phosphate as the positive electrode, so its performance is relatively stable, so its safety factor is relatively high in theory.

It is precisely because of this that Wang Chuanfu, Chairman and President of BYD’s Board of Directors, once said at the super conference of "Blade battery is unsheathed and safe in the world" on March 29, 2020, "Blade battery embodies BYD’s determination to completely end the safety pain point of new energy vehicles, and it will redefine the safety standard of new energy vehicles." "New energy vehicles equipped with blade batteries will completely erase the word spontaneous combustion from the dictionary of new energy vehicles."

BYD’s "blade" battery became famous in the first world war because of the puncture experiment, and it was spread in the industry. Later, it was fully promoted and applied in all models of BYD’s new energy, and made great contributions to BYD. Supposedly, such an innovative product should completely reassure consumers, but the reality is somewhat embarrassing for Boss Wang.

In fact, not only BYD Tang DM-i, but also Han DM-i, BYD e6, BYD e2, Qin Pro, Yuan EV, Song Pro DM-i, Seals and Dolphins. Just search the network news, and you will find that BYD’s new energy series vehicles have had fire or spontaneous combustion accidents, and some vehicles are still relatively frequent, and they have emerged from time to time on the network.

Original sin or quality problems in key parts

Take the protagonist Tang DM-i as an example. In recent years, spontaneous combustion accidents are not uncommon. For example, on January 26, 2022, some netizens broke the news that a BYD Tang DM-i in Shanghai caught fire on the way to the trailer. This is really a coincidence. The situation is so similar to this accident that Xiaobian thought it was the same incident at first, and then carefully identified the license plate number and confirmed that it was two accidents. This accident eventually led to the complete burning of the car.

Also in Shanghai, on March 19th, one month later, it was revealed that the BYD Tang DM-i newly mentioned by a car advocate in Shanghai spontaneously ignited in the parking space of the community. According to the information provided by the owner and the chat record, the car caught fire at around 5 am that day, which caused the car next to it to be burned to varying degrees. According to the owner, the car was not charged at that time, but just parked there.

This is only a corner of Shanghai, and it is only a short period of incomplete online exposure news. Search those online news that have not been deleted, and you will find that BYD Tang DM-i spontaneous combustion accidents are all over the place, and there are many more.

Objectively speaking, with the widespread use of new energy vehicles, fire accidents are indeed rising. According to the statistics of the Fire and Rescue Bureau of the Emergency Management Department, in 2021, there were 3,000 fire accidents in new energy vehicles nationwide. It seems inevitable that a hot-selling new energy vehicle will have some spontaneous combustion accidents, but the mistake is that BYD Wang’s boss should not talk too much.

What’s more, such an accident is a very disturbing disaster for any individual consumer. If there are casualties in the accident, it will be a family tragedy. Therefore, it is necessary to explore the causes of spontaneous combustion of BYD Tang DM-i, even Qin Pro, Yuan EV, Song Pro DM-i and so on.

On April 29th, 2022, a recall notice issued by the State Administration of Markets indicated that 9663 Tang DM models produced from September 2nd, 2021 to March 14th, 2022 would be recalled from now on. The reason for the recall is that the installation surface of the battery pack trays of these vehicles is uneven due to manufacturing reasons, and there is a risk of water ingress. "This may cause the electrical circuit of the power battery system to fail. In extreme cases, there is a risk of thermal runaway of the power battery, which poses a safety hazard."

On July 29th, 2022, another recall notice issued by the State Administration of Markets revealed that BYD had expanded the recall scope of Tang DM and decided to recall 52,928 Tang DM electric vehicles produced from April 5th, 2021 to April 18th, 2022 from now on. The reason for the recall is that "some vehicle power battery pack trays are at risk of water ingress, which may cause arcing in the high-voltage system and pose a safety hazard."

In fact, people who don’t understand these technical terms, whether it’s thermal runaway or high-voltage system arcing, may not be too concerned. But in other words, if the common people can understand it, it is: the battery is overheated to the limit, which will cause the battery to burn or explode; As for the high-voltage system, it is simpler to pull the arc. Have you ever seen the transformer switch on? "Zizi" sparks with lightning all the way, and the high-temperature arc generated by high voltage and high current can ignite the surrounding combustible materials in an instant.

Therefore, judging from the spontaneous combustion accidents of DM-i in Tang Dynasty, although BYD conducted cold treatment in most cases afterwards, and did not give specific reasons and follow-up news, it is not difficult to find from the official announcement that the quality control of DM-i in BYD Tang did have serious problems that might lead to spontaneous combustion, so that it had to start a recall.

Returning to this consignment spontaneous combustion accident, although the specific reasons are still under investigation, consumers can also reasonably doubt their quality control. In fact, we fully understand consumers’ concern about safety, but we don’t pay so much attention to the cause or process of the accident. Because no matter whether you are short-circuited, flooded, uneven or out of control, as long as your results lead to fire, spontaneous combustion or explosion, there is virtually no difference to consumers-from car burning to "human purgatory (if you can’t run away)".

As a leading new energy vehicle company, we should pay more attention to the reasonable concerns of consumers, especially the safety concerns, and we should not be negligent. After all, vehicle safety involves many aspects, not only batteries, but also supporting systems, body structure, etc. It is an organic whole, and no one can neglect it. If the quality control is neglected, it can also lead to the abandonment of all previous efforts. Therefore, BYD needs to make more efforts in product line quality control and ex-factory quality inspection.