Author | Wang Yajun 　

Cover Source | Douban Entry 　

On January 26th, Beijing time, Tesla released the latest financial report: in the fourth quarter of 2022 (hereinafter referred to as Q4), the revenue increased by 37% year-on-year to US$ 24.318 billion, and the net profit increased by 59% year-on-year to US$ 3.687 billion, both hitting record highs and exceeding market expectations. 　

During the period, Tesla’s vehicle production and delivery both reached new highs: Q4 produced 439,701 vehicles and delivered 405,278 vehicles, up 44% and 31% respectively. 　

On the first trading day after the financial report was released, Tesla closed up nearly 11% and its market value returned to 500 billion US dollars. 　

DanielIves, a well-known Tesla bull and Wedbush analyst, believes that Q4 in 2022 will be "one of the most important financial reports in Tesla’s history" because its dominant position in the electric vehicle market is facing new resistance in the past few years. 　

Before the financial report was released, Tesla took the lead in the unprecedented price reduction promotion in the domestic market on January 6, and then spread the price war to the United States, Europe and other places. Musk said in the earnings conference call that he saw the strongest order in Tesla’s history in January, and the current number of orders is almost twice the production capacity. 　

In 2023, Tesla gave a delivery target of 1.8 million vehicles in the financial report, an increase of 37% compared with 2022, which was lower than the previously set long-term target (an annual increase of 50%). However, Musk is also optimistic that if there is no external interference, 2 million cars may be produced and sold in 2023. 　

The price of cars has dropped, but the growth rate of delivery has slowed down. 　

In Q4 of 2022, Tesla, the "price butcher", once again showed the cutting edge of price reduction. 　

Since October, 2022, Tesla has successively reduced prices in China and North America. Musk’s goal is to sell all the cars produced in Q4 that year and usher in an "epic year-end". 　

However, due to the small price reduction, the effect of exchanging price for quantity is not satisfactory. Tesla delivered a total of 405,300 vehicles in Q4, with a year-on-year growth rate slowing from 71% in the same period of last year to 31%, and a year-on-year revenue growth rate of 37%, a record low in the past two years. MarkDelaney, an analyst at Goldman Sachs, believes that Q4′ s delivery data is "an increasing negative factor". 　

　In Q4 last year, Tesla’s output exceeded the delivery by 34,423 vehicles, and the annual difference was 55,769 vehicles. In 2022, Tesla delivered a total of 1,313,800 vehicles, which failed to reach the annual target (1,404,100 vehicles), and the throne of the annual new energy vehicle sales crown was also taken away by BYD. 　

As the most profitable new energy vehicle company in the world, Tesla’s net profit growth rate slowed down obviously in Q4 last year, even less than Q2, which was affected by epidemic and supply chain. 　

The price reduction promotion also lowered the gross profit margin. Tesla Q4′ s gross profit margin was 23.8%, down 3.6 percentage points from the same period of last year and 1.3 percentage points from the previous month, hitting a new low in nearly seven quarters. 　

　　In the face of the decline in profitability brought about by price cuts, Musk believes that Tesla can get compensation from autonomous driving. 　

In a Twitter space discussion at the end of 2022, Musk said that the value of a car that can drive automatically is much higher than that of a non-self-driving car. Even if the profit margin is extremely low when selling a car, it can be upgraded to automatic driving. It can bring a lot of income. "Only Tesla can do this." 　

FSD(FullSelf-Drive) brought Tesla $324 million in revenue in Q4. Tesla has released a beta version of FSD to almost all customers in North America, and the number is about 400,000. 　

In addition to the slowdown in growth and the decline in gross profit margin, Musk, as the soul of Tesla, was also distracted by Twitter. 　

Musk proposed to acquire Twitter in April 2022 and entered the company in October. After the acquisition, Musk reduced his holdings of Tesla shares worth nearly $23 billion. KoGuanLeo, the third largest individual shareholder of Tesla, said that Musk gave up Tesla and Tesla had no CEO. 　

The cold winter of Q4, together with Twitter nightmare, has impacted Tesla’s market value and Musk’s net worth. As of the close of the last trading day in 2022, Tesla’s share price fell by more than 50% in the fourth quarter. Affected by this, Musk became the first rich man in history to lose $200 billion. 　

　　

Weakened first-Mover advantage 　

Behind the slowdown in delivery, revenue and net profit growth is Tesla’s insufficient demand challenge in Q4. According to the financial report, Tesla Q4′ s global inventory supply days reached 13 days, up 225% year-on-year, the highest in the whole year. 　

Bernstein, an American investment research institute, said that the price reduction of Tesla’s promotion in China and the United States in 2022 means that Tesla may have a demand problem. 　

The long gap period of models is one of the important reasons for the decline in Tesla demand. In 2022, the combined delivery of Model3 and ModelY accounted for 94.92% of Tesla’s total annual delivery, but the release time of these two models should be traced back to 2016 and 2019 respectively. 　

Merrill Lynch once predicted in a report that by 2025, Tesla’s American electric vehicle market share will drop from the current 70% to 11%, because Tesla did not expand its product portfolio quickly enough, while traditional car manufacturers and new forces making cars are improving their product lineup. Standard & Poor’s Global Mobile also believes that although Tesla is still the best-selling electric vehicle brand in the United States, its competitors are launching more and more affordable models, and Tesla’s dominant position in the electric vehicle market is being weakened. 　

During the gap period of Tesla models, the pattern of new energy vehicle market in China has also changed greatly. According to the data of the Association, the market share of BYD’s new energy passenger cars increased from 19.5% in 2021 to 31.7% in 2022. In the same period, Tesla decreased from 10.7% to 7.8%. Wei Xiaoli also broke through the annual delivery of 100,000 vehicles in 2022, and plans to launch more models. 　

　

At the same time, Tesla’s technological aura is gradually eclipsing. 　

Tesla’s brand power is centered on the exploration and landing of new technologies, especially the combination with FSD. Musk also predicted that "autopilot software will become Tesla’s most important profit point", but FSD has never achieved true full autopilot. According to the calculation of CITIC Securities, from 2019 to 2021, the revenue of FSD accounted for 3.4%, 2.8% and 1.7% respectively. 　

Will the price war last? 　

At the beginning of 2023, Tesla cut prices sharply on a global scale. 　

On January 6th, all the models on sale in Tesla China market were reduced in price, with a drop of 20,000 ~ 48,000 yuan, and the promotion was unprecedented. The following week, Tesla spread the bonfire of price war to Japan, South Korea, North America, Europe and other places. 　

Price reduction is a double-edged sword. Daniel, the aforementioned Wade Bush analyst, believes that Tesla’s price reduction may increase the global delivery this year by 12% ~ 15%. Deutsche Bank predicts that Tesla’s gross profit margin will drop by 3 percentage points in 2023 compared with 2022. 　

At the earnings conference call, Tesla did not release the expectation of continuing to exchange prices. Musk said that Tesla raised the price slightly because the demand after the price reduction far exceeded the output. On January 24, Tesla raised the price of the ModelY dual-motor all-wheel drive model sold in the United States by $500. Tesla CFOZachKirkhorn also said in the earnings conference call that the gross profit margin of automobiles will be higher than 20% this year. 　

Tesla’s price reduction action is bound to cause a rebound of competitors. Haitong Securities believes that Tesla will increase market sales by reducing prices, announcing that the electric vehicle industry will officially enter fierce competition in 2023, and global car companies will face great pressure to compete head-on. 　

On January 13, AITO asked the community to announce that the price of some of its models would be lowered by 28,800 ~ 30,000 yuan. On January 17th, Xpeng Motors, which is still at a loss, announced that it would adjust the price of its G3i/P5/P7 models, with an overall decrease of 20,000 ~ 36,000 yuan. 　

The day after the official announcement of price reduction, He Xiaopeng, chairman of Xpeng Motors, said at the annual summary meeting, "Either you are brilliant enough with everyone, or you will die with a bang". 　

BYD, which did not follow the price cut, launched a million-class luxury car the day before Tesla’s domestic price cut in an attempt to get more cakes in the high-end market. 　

In the face of rivals who are chasing after each other step by step, Tesla urgently needs to find new sales growth points. 　

FranzvonHolzhausen, chief designer of Tesla, said on January 16th that Cybertruck, a pure electric pickup truck, had finished the design and was ready to put into production. The market generally believes that if Cybertruck can be listed as scheduled, it will become a new growth point for Tesla in the North American market in 2023. 　

Cybertruck； Source: Tesla official Weibo 　

　Musk said in the earnings conference call that Cyberruck may start production in the summer of 2023, but the real mass production work will begin in 2024, and Cyberruck’s contribution to profits will not be great this year. 　

Cheap models are another sales growth point besides Cybertruck. Musk predicts that the cost of the next-generation car platform will be half that of the second-generation platforms (Model3 and ModelY), and its output may be higher than the sum of all the company’s current products. 　

Tesla said in Q4 financial report that more details of the next-generation car platform will be released on March 1, 2023, Investor Day. Analysts of venture capital firm LoupVentures believe that Tesla’s affordable model Model2 will not be launched until 2024. 　

In addition, Tesla has to consider the impact of the macro environment. 　

In a Twitter discussion at the end of 2022, Musk believed that the severity of the economic recession in 2023 was equivalent to that in 2009, which would affect the demand for automobiles and lead to an increase in the consumption cost of automobiles. However, in the earnings conference call, Musk also said that the economic recession will reduce Tesla’s costs, which in turn will bring higher profit margins. However, he stressed that this was only his guess. 　

Twitter is also a variable that Tesla will face this year. In December 2022, Musk launched a vote on whether he should step down as CEO of Twitter. 57.5% of users thought he should resign, but Musk still serves as CEO of Twitter. 　

In the earnings conference call, Musk "showed off" his Twitter account with 127 million fans, and said that Twitter created demand for Tesla. At present, Musk has renamed his Twitter account "Mr. Twitter". 　

Competition in the industry has intensified and the first-Mover advantage has diminished. In 2023, Tesla will still face severe challenges.

　　In 2008, the Economic Investigation Detachment of Harbin Public Security Bureau cracked 15 criminal cases of making and selling fake goods, involving food, medicine, tobacco and alcohol, invoices and other fields, involving more than 40 million yuan, and arrested more than 40 suspects.

　　On March 11th, the Economic Investigation Detachment of the Municipal Public Security Bureau announced eight typical cases of counterfeiting.

　　Case 1: Producing counterfeit drugs and selling them everywhere.

　　In 2008, a large team of Economic Investigation Detachment of Harbin Public Security Bureau found a criminal clue involving counterfeiting registered trademarks, producing and selling counterfeit drugs. After investigation, it found a large criminal gang consisting of 47 suspects involving 13 cities in 9 provinces across the country.

　　In August 2006, the suspect Chen Yumin went to Anyang City, Henan Province to find Shen Haijun, a counterfeit drug dealer. The two sides agreed that Chen Yumin would provide raw materials and Shen would be responsible for finding someone to make counterfeit drugs. Shen found Huang to process 400 fake three-refined Sloping at the price of 500 yuan per piece (box). After receiving this batch of counterfeit drugs, Chen Yumin sold them to Shenzhen and Taihe County of Anhui Province successively through Wu Mou, Yunnan salesman of Sanjing Heihe Pharmaceutical Company.

　　From June 2007 to January this year, Shen Haijun bought 42 pieces of amoxicillin capsules and 63 pieces of cefalexin from Wang, a native of Henan Province, and sold them to Wu Yulong at a higher price in 100 yuan. Wu Yulong sold them to Shao Huiling at a price of 1,500 yuan each, and Shao Huiling sold the fake amoxicillin to Xu Shoucai of Ankang Pharmaceutical Co., Ltd. in Heilongjiang Province. Xu Shoucai has been distributed to other pharmaceutical companies or retail pharmacies for 19 times.

　　After investigation, Wu Yulong sold 105 boxes of cefalexin tablets and amoxicillin capsules from Harbin Pharmaceutical Group Pharmaceutical Factory to Heilongjiang Ankang Pharmaceutical Company in the name of Heilongjiang Wuxing Pharmaceutical Company. Ankang pharmaceutical company distributed 85.5 boxes to 19 pharmaceutical companies or pharmacies inside and outside the province in 30 times. At present, the stocks of counterfeit drugs in pharmaceutical companies and pharmacies all over the province have been basically recovered. On January 19th, 2008, the police will destroy 8 fake dens and seize 1.97 million counterfeit drugs (sticks and bottles) and more than 400,000 counterfeit trademarks.

　　Case 2: counterfeit money is hidden in the tea parcel

　　At 17: 00 on November 2, 2008, the investigators of the Second Brigade of the Municipal Economic Investigation Detachment got a clue: Wang Jiale, Yunfu City, Guangdong Province mailed a bag of three boxes of tea to Harbin, which contained forged RMB 5,000. The recipient was Yue from Wangshengbiao Store, Yongyuan Town, Daowai District, Harbin.

　　On November 3, 2008, investigators arrested Zhou Xilong, a man who came to collect the parcel. He confessed the criminal fact of buying counterfeit money from Guangdong through SMS. After careful inspection by investigators, it was found that all the fake RMB hidden in the tea box was in 20 yuan face value, totaling 4,980 yuan. On November 3, 2008, the suspect Zhou Xilong was criminally detained on suspicion of buying counterfeit money. Now the case has been investigated and transferred for review and prosecution.

　　Case 3: More than 10,000 counterfeit coins are hidden in cigarettes.

　　At 16: 00 on October 13th, 2008, the investigators of the Second Brigade of the Municipal Economic Investigation Detachment received a report: a bag marked as two cigarettes was sent to Harbin by PG One in the Golden Wheel Parking Lot of Shatai Road, Guangzhou, containing forged more than 10,000 yuan. The investigator immediately rushed to the post office to find the email, and learned that the recipient was Huang, the Xinfa Telephone Branch of Netcom Company in Xinfa Town, Daoli District.

　　On the morning of October 14th, the investigator took control of Huang, who had just received the email, and immediately reviewed it. Huang said: This email was received on behalf of his comrade Luo Xiyu. After careful examination of the mail, it was found that the fake RMB hidden in cigarettes totaled 12,000 yuan, including 200 in 50 yuan and 100 in 20 yuan.

　　The investigators continued to fight and soon captured the suspect Luo Xiyu. Luo Xiyu confessed that 12,000 yuan of fake RMB was bought with 1,900 yuan. On October 14th, 2008, Luo Xiyu was criminally detained on suspicion of buying counterfeit money.

　　Case 4: A "green arrow" was built in the rental house.

　　On January 23, 2008, Wrigley Candy (China) Co., Ltd. entrusted Beijing Jiayifeng Business Consulting Co., Ltd. to report to Harbin Economic Investigation Detachment that Guo Lirong, a criminal suspect, organized personnel to produce and sell counterfeit company’s "Green Arrow" chewing gum at No.27, Da Crystal Street, Daowai District, Harbin, with a daily shipment of about 20 boxes, each worth RMB 1,260.

　　On January 25, the police arrested eight suspects, including Guo Lirong. After investigation, Guo Lirong, a criminal suspect, purchased the outer packaging and anti-counterfeiting labels of Green Arrow chewing gum from Fujian and Shandong provinces from February 2007 to January 2008, and purchased sugar tablets from Yiwu City, Zhejiang Province, and organized personnel to produce and sell counterfeit "Green Arrow" chewing gum in the rented house at No.27, Da Crystal Street, Daowai District, with a total sales of more than 600,000 yuan.

　　On July 24, 2008, the People’s Court of Daowai District of Harbin sentenced Guo Lirong to three years’ imprisonment and fined RMB 100,000.

　　Case 5: A large number of fake cigarettes hide houses.

　　At 15: 00 on January 25, 2008, the investigators of the Municipal Economic Investigation Detachment, with the cooperation of the staff of the Municipal Tobacco Inspection Bureau, just arrested the suspect suspected of selling fake cigarettes, and seized 268 counterfeit cigarettes on the spot, with a case value of 154,840 yuan. Later, 274 counterfeit cigarettes were seized in Room 601, Unit 6, Building 7, Orchard Community, Xiangfang District, where he lived, with a case value of 43,820 yuan.

　　It turned out that on January 6, 2008, the Municipal Economic Investigation Detachment received a case handed over by the tobacco inspection department: at 11 o’clock on January 6, 2008, the staff of the Municipal Tobacco Inspection Bureau seized various brands of counterfeit cigarettes in a white Nissan car on Haping Road, with a case value of 113,000 yuan. After the owner Li Lianchun confessed, he found a large number of accounts of selling fake cigarettes from 2006 to now in his home. Under the identification of Li, the investigators seized two dens selling fake cigarettes, each with a value of 18,000 yuan and 15,000 yuan.

　　Case 6: Soochow Company used fake invoices.

　　At the beginning of 2008, the Sixth Brigade of the Municipal Economic Investigation Detachment received an alarm from the masses that Harbin Dongwu Metal Materials Co., Ltd. used a large number of false invoices and was suspected of tax evasion. Investigators found out that Zhu Ge, the operator of the company, and Zhu Yifan, an employee of the company, took measures such as not recording the income and issuing a huge amount of fake invoices to evade taxes. At present, it has been verified that the amount involved is more than 23 million yuan, and it is suspected of stealing more than 3 million yuan.

　　Case 7: Buy fake cigarettes and spray code for sale.

　　On August 20, 2008, the First Inspection Branch of the Municipal Tobacco Monopoly Bureau and the Eighth Brigade of the Municipal Economic Investigation Detachment jointly investigated and dealt with a case of selling fake and inferior products, and seized 3,058 counterfeit cigarettes with a case value of more than 300,000 yuan. The suspects, Luo Haiyan and Wang Long, are both suburban farmers. Without a tobacco license, they were introduced by others to buy fake cigarettes from A Zheng in Yunxiao County, Fujian Province three times in June 2008. After being distributed to Harbin through logistics, the fake cigarettes are spray-coded and packaged and sold to Hegang and other places. The case has now entered the court hearing stage.

　　Case 8: Continue to sell fakes during probation.

　　On July 9, 2008, the Eighth Brigade of the Municipal Economic Investigation Detachment learned that someone illegally purchased a batch of cigarettes from the south and would unload them at a cargo terminal on Xianfeng Road. The police arrested three buyers, including Sun Binjiang, and seized 1,950 cigarettes purchased at the cargo terminal. In addition, more than 6,000 cigarettes of more than 20 kinds were seized in the warehouse rented by three people, with a value of RMB 1.01 million.

　　After in-depth work, the police arrested Chen Yuebei, the suspect of Yunxiao County, Fujian Province. It was found out according to law that Sun Binjiang was sentenced to 3 years’ imprisonment and suspended for 3 years for illegal business operations in 2006. Sun Binjiang did not repent during the probation period and returned to his old job. In 2008, he colluded with Tan Liwei and Ni Junfeng to buy fake cigarettes from Chen Yuebei four times, and continued the illegal and criminal activities of selling fake and inferior products. At present, Sun Binjiang was sentenced to 4 years in prison and fined 208,000 yuan; The other three were sentenced to 2 years and 3 years in prison, suspended for 3 years and 5 years respectively, and fined 100,000 to 200,000 yuan. (Qin Lei Fu Li Qiong Cai Hang)

Editor: Yan Bin

Recently, under the command and coordination of the Provincial Public Security Department and with the support of the environmental protection department, Zhuhai police, in conjunction with police in many places, launched a simultaneous network-closing operation, which destroyed the "1.29" criminal gang led by Zhang Mokun in one fell swoop, arrested more than 120 criminal suspects, found 9 oil storage points, and seized 39 vehicles, 62 oil drums, more than 100 boxes of used engine oil and 61 tons of used engine oil substances used for illegal transportation, storage and disposal.

　　At the beginning of this year, Zhuhai police found that a man surnamed Zhang organized illegal recycling and resale of waste engine oil in Zhuhai, Zhongshan, Jiangmen and Shenzhen. After investigation, since the end of 2015, Zhang Mokun organized relatives, fellow villagers and others to illegally purchase waste engine oil, and after centralized storage, sedimentation and filtration, they sold it again, illegally disposing of more than 30,000 tons of hazardous waste waste engine oil, involving more than 60 million yuan. There are strict laws and regulations on the recovery and disposal of waste engine oil, and only units with the qualification of hazardous waste management can recover and dispose of it. Zhang Mokun and others do not have the qualification conditions, and their behavior poses a great threat to the public safety and environmental safety of our province. On the 12th, Zhuhai, together with the police in Shenzhen, Shantou, Zhongshan, Jiangmen and other places, launched a simultaneous network-closing operation and successfully destroyed the criminal gang.

CITICS

Edible oil can be divided into vegetable oil and animal oil according to the category. Edible vegetable oil is the main domestic consumption, and the consumption of animal oil is decreasing year by year. According to the statistics of the National Bureau of Statistics, the proportion of edible vegetable oil in the per capita edible oil consumption of rural households in China has increased from 56% in 1980 to 90% in 2018. Edible vegetable oil is mainly produced from upstream soybeans, rapeseed,

Planting oil seeds such as peanuts and sunflower seeds, squeezing, refining and packaging to obtain packaged edible oil products; In addition, the by-product oil meal can be used as an important feed raw material, while the primary processed products such as crude oil can be used to manufacture daily chemical products, high-quality basic chemicals, nutritional products, etc., which are widely used in food, chemical industry, medicine and other industries.

In recent years, the consumption of edible vegetable oil has increased steadily.

With the increase of per capita edible oil consumption and the substitution of edible vegetable oil for edible animal oil, the consumption of edible vegetable oil in China has continued to increase, and the growth rate of industry consumption has gradually slowed down after 2005, stabilizing at single-digit growth.

According to the statistics of National Cereals and Oils Information Center, in 2017/18 (from October 2017 to September 2018, the same below), the consumption of edible vegetable oil in China reached 34.4 million tons, and the CAGR reached 4.5% in the past five years. Among them, the production of edible vegetable oil reached 29.63 million tons, and the CAGR reached 4.5% in the past five years. Some edible vegetable oils were supplemented by imports.

Soybean oil-rapeseed oil is dominant, and oilseed soybeans are mainly imported.

In terms of scaleAccording to USDA data, the consumption of soybean oil and rapeseed oil in China in 2018/19 reached 15.89 million tons and 8.39 million tons respectively. The consumption of peanut oil, sunflower oil and corn oil ranks second. According to USDA data, the consumption of peanut oil and sunflower oil in China in 2018/19 was 3.09 million tons and 1.5 million tons respectively.

From the perspective of growth rateIn recent years, sunflower oil and olive oil have increased rapidly, with CAGR reaching 10.1% and 6.7% respectively in the past five years.

From the perspective of supplySoybean oil, rapeseed oil and peanut oil are mainly made in China, while sunflower oil and olive oil are mainly imported, accounting for 69% and 93% of consumption; From the perspective of oil materials (raw materials for oil extraction), soybeans are mainly imported, and imports in 2018/19 accounted for 97% of the crush.

Packaging edible oil: soybean oil dominates the market, and consumption is gradually escalating.

According to the packaging methods, edible vegetable oil can be divided into bulk oil, medium packaging edible oil and small packaging edible oil.

In recent years, with the continuous promulgation of national laws and regulations on restricting the sale of bulk oil, the improvement of residents’ living standards and consumers’ increasing awareness of food safety, the consumption of bulk oil has gradually decreased, and the consumption of small and medium-sized packaged edible oil has gradually increased, occupying the main position in the edible oil market.

According to Euromonitor statistics, the consumption of packaged edible oil in China reached 14.67 million tons in 2019 (excluding industry), and the CAGR was 4.8% in 2014-2019. It is expected that the industry will continue to grow steadily in the future, and the expected sales volume CAGR in 2019-2024 is 3.7%.

Looking at retail channels alone, the sales volume, sales volume and retail price of packaged edible oil in 2019 were 103.1 billion yuan, 8.39 million tons and 12,292 yuan/ton respectively, corresponding to CAGR of 2.2%, 3.8% and -1.5% in 2014-2019 respectively.

Soybean oil dominated, and the proportion of high-priced edible oil increased.

In terms of categories, soybean oil is still dominant in packaged edible oil.

According to Euromonitor statistics, in 2019, China’s soybean oil sales accounted for 44%, and rapeseed oil, peanut oil and sunflower oil accounted for 10%, 9% and 7% respectively.

From the retail price, olive oil is much higher than other categories, reaching 97,000 yuan/ton in 2019; Peanut oil and sunflower oil are relatively higher than the average level, with 14,300 yuan and 13,600 yuan/ton respectively in 2019; Soybean oil and rapeseed oil are the most common edible oils, and the price per ton is relatively low. In 2019, they were 11,200 yuan and 10,100 yuan/ton respectively.

With the improvement of people’s consumption level, the sales growth rate of relatively high-priced edible oil is ahead. From 2014 to 2019, the sales of olive oil, peanut oil and sunflower oil reached 9.9%, 5.9% and 8.3% respectively, which was higher than the industry average.

Modern channels are dominant, especially high-priced oil.

Small-package edible vegetable oil has both the attributes of hoarding goods and giving gifts, so modern channels such as supermarkets and supermarkets are the main sales channels.

According to Nielsen statistics (quoted from the company’s prospectus), in 2019, the sales volume of small package edible vegetable oil in supermarkets and supermarkets accounted for 32.4% and 30.9% respectively.

Especially for sunflower seed oil, rice oil, peanut oil, olive oil, etc., the total proportion of hypermarkets and supermarkets is over 70%.

Judging from the trend in the past three years, the proportion of overall hypermarkets has declined, the proportion of supermarkets has increased, and other channels have changed relatively little.

In the future, the industry will grow steadily and the upgrading trend will continue.

In the future, the domestic packaged edible oil industry is expected to maintain a steady growth trend. According to Euromonitor’s forecast, the domestic packaged edible oil sales CAGR will reach 3.7% from 2019 to 2024.

With the increase of people’s income level and the demand for health and quality, the demand for high-end edible oils (such as sunflower oil and olive oil) with more balanced and rich nutrients will continue to increase in the future.

According to Euromonitor’s forecast, from 2019 to 2024, the traditional sales of soybean oil and rapeseed oil will be only 1.5% and 2.7%, while the consumption of sunflower oil and olive oil will reach 4.1% and 5.4% respectively, and the proportion of high-end edible oil sales is expected to continue to increase.

Source: CITIC Securities, "The leading grain and oil company is Hengqiang, and its listing efforts have reached a new high"

Xiaomi once said that he would copy 100 millet in five years. According to Sun Ran, a reporter from China Business News, after two years’ operation, there are 55 Xiaomi eco-chain enterprises, and there are four unicorns with a valuation of more than one billion dollars. Lei Jun scored 99.99 points.

Xiaomi is famous for making explosions, and its recent product logic is still the same. In the case of giving birth to four small unicorns, it is a big unicorn with a valuation of 46 billion US dollars. Therefore, in the 16,000-word long article, Tiger Sniff only picked two parts: the explosion logic and the fate of unicorns to help readers quickly understand the Xiaomi ecological chain.

Liu De, head of Xiaomi Eco-chain and co-founder of Xiaomi, believes that eco-chain investment is the value, methodology and existing resources of products exported by Xiaomi, including e-commerce platform, marketing team, brand, etc., and builds an aircraft carrier fleet around itself. In finding and screening the invested team and locking in the field, Xiaomi follows a complete set of logic:

First, the market in a specific field is large enough to play the demographic dividend model of the Internet; Second, the products in this field have serious shortcomings in cost performance and quality, and there is a chance to be transformed; Third, the products can be iterated or have consumables to ensure that the company’s durability is concerned by the market; Fourth, the product users match the characteristics of Xiaomi’s 150 million user groups (concentrated in 18-35 years old, with 70% of science and technology men), and it is easy to detonate by using Xiaomi platform; Fifth, the technology is excellent, and a professional team like "Niu Dao" is used to do "killing chickens". For example, the developer in mi band is actually a mobile phone team; Sixth, we share common values with Xiaomi, do not make quick money, and have the desire to make new domestic products.

This set of screening criteria corresponds to 80% of mass consumer users in the market. "The Internet is a demographic dividend business and is not suitable for niche markets. In a mature economic system, two or three enterprises should monopolize 80% of the market. What Xiaomi wants to do is to make the middle class live a decent life and become a national enterprise with reasonable price and good quality. The remaining 20% of luxury goods and features are not considered by Xiaomi. " Liu De said.

Strictly speaking, Liu De relies on a set of military theories to control Xiaomi ecological chain enterprises-precision strikes and small-scale special forces operations. The former pursues single product explosion and mass sales, while the latter pursues small-scale surprise attack and counter-attack.

Explosion logic

Understanding the above can help us better understand the explosion logic of Xiaomi and its ecological chain. They must highly recognize this product logic of Xiaomi to become an ecological chain enterprise of Xiaomi:

In Xiaomi’s product logic, what Xiaomi wants to do is not the product with the highest technical content, but the product that can meet the basic needs of 80% of the public and achieve the best cost performance. Therefore, it is necessary to define the product accurately.

In Su Jun’s view, traditional enterprises develop products by trial and error. First, they put in dozens of models, which one sells well, and then they produce more and invest more resources. The whole management system, management system and even data are standardized and healthy, which also disperses risks, but it lacks one thing, that is, the precise definition of the product side.

Take the air purifier as an example. There are many products on the market, but there is actually only one "public version" product. It is a fan plus an Archimedes curve duct, and the front and rear air inlets and the top air outlets are basically a routine. This is true from a technical point of view, but from the product experience, it is a piece of "furniture". To be integrated into the family, the appearance must be beautiful. Moreover, domestic home appliance enterprises still use the operation logic established by Japanese home appliance enterprises. For example, Japanese people will read the instructions carefully after buying products, and the instructions are still very thick, which is the habit of Japanese people. However, this kind of operational logic is very different from the current mobile Internet era. "Should have changed, and it is easy to change. Do not change because there is no pursuit. "

Xiaomi’s "precise definition" and "aiming at a little punching" are risky, but Su Jun believes that the product manager of Xiaomi system has enough confidence in the user experience, industry situation and the definition of good products to avoid this risk. "Sometimes we are absolutely confident that this product is what consumers want."

In fact, the product managers and directors in the Xiaomi Eco-chain team have a great decision on the definition of products and whether they can finally go public. Before the product comes out, it will go through two or three rounds of trial and internal spit. "The internal spit group is very powerful, and sometimes a product will be smashed to pieces." Many products in the Xiaomi ecological chain that failed to reach 80% satisfaction in internal testing were killed before listing. In Su Jun’s view, this is actually doing hardware with the idea of doing software, running in small steps and iterating quickly.

"Without 1 million units, I failed. The single product (annual sales volume) must also be guaranteed at least between 1 million and 10 million units. " This is the standard for Liu De, the head of Xiaomi Ecological Chain, to measure the success of a member enterprise."Eco-chain companies should be the first in the world in every field, and the second is fine, but it is no problem to be the first in China."

After two years of business, the Xiaomi mobile power supply made by Zimi sold 20 million units in 2015, ranking first in the world among similar products. Another Huami, which makes bracelets, sold 13 million bracelets in 2015, and it is also approaching the number one position in the world. Liu De thinks it is not difficult to become the world’s number one. "When you are based on a dividend market, you should have the number one base in the world."

Single product, mass production and explosion are the product logic that Xiaomi eco-chain enterprises follow together: they focus on a single product line, aim at 80% of the mass consumer goods market, sell high-configuration products at a low price close to the cost, and strive to reach the first position in the sub-sector within two or three years.Xiaomi saw clearly that the opportunity of the Internet model comes from the demographic dividend. Therefore, in this logic, scale is the core of everything, whether it is for profit or for maintaining benign operation.

Xiaomi requires every eco-enterprise to agree with the values of "don’t make quick money, don’t make huge profits and pay attention to quality".At the beginning, Su Jun set the price of 899 yuan, which was based on a set of "assuming success formula", that is, the cost of millions of sets of sales that could be imagined, plus the operating cost.

For example,

Zhang Feng, CEO of Zimi Technology, takes Xiaomi mobile power supply as an example. The average cost of 50 million units is much lower than that of 500,000 units and 5 million units. Assuming that a power supply (profit) costs 1 yuan money, there may be a profit of 30 million to 50 million yuan. If the profit rate is 10% and 5 million units are sold, there will be a profit of 20 million to 30 million yuan.

The decreasing cost effect brought by scale is one reason, and it is also very important to "cooperate" with the supply chain in a benign way. Before entering the Xiaomi ecological chain, Zhang Feng was the general manager of Inventec, a Xiaomi mobile phone OEM factory, and had been in the supply chain circle for more than ten years. When Xiaomi Mobile Power Supply was first introduced, 69 yuan’s pricing plan could not be formed without the support of a bunch of suppliers. In the eyes of many people in the industry, it is the unspoken rule of the industry that hardware manufacturers cut prices by squeezing the supply chain. However, Zhang Feng believes that "every expense of long-term cooperative suppliers is the same as their own, and their efficiency is our efficiency."

In the off-season, purple rice will allow manufacturers to continue production and build a part of their own inventory to take risks. "The plan we gave them is not two or three months, but six months, and their personnel should be kept stable. When machines and people are running, the efficiency is improved, the efficiency is improved, and the processing cost is reduced. "

At the same time, the realization of the cost-effective model also depends on the design ideas of Xiaomi products. Xiaomi enterprises have cut off all unnecessary functions in their products and the expenses they bring. This is related to Xiaomi’s positioning. What it wants to do is not the product with the highest technical content, but the product that can meet the basic needs of 80% of the public and achieve the best cost performance. Corresponding to this set of design ideas, Xiaomi Eco-enterprise does not use sophisticated "black technology", but mature industrial-grade solutions and accessories, which avoids the high cost of becoming a laboratory product.

The fate of unicorns

Most of Xiaomi’s investments are intelligent hardware entrepreneurs with traditional enterprise backgrounds, and their tolerance for price is much lower than Xiaomi’s. Therefore, when they run in with Xiaomi’s investment team, the most painful and tormenting thing for them is product pricing, but the price/performance ratio is the biggest weapon of destruction for Xiaomi and its eco-chain enterprises.

How to run in between eco-chain enterprises and Xiaomi;

Several Xiaomi eco-chain entrepreneurs have used the words "torture", "force" and "pain", especially in the pricing process. The earliest market price of the cooperative model of Ninebot and Xiaomi was 14,900 yuan, and the price was set at 2,999 yuan when negotiating with Xiaomi in the early stage. Gao Lufeng thought this was a very "millet" pricing style, but he didn’t expect it to be just the beginning. "Chatting and chatting, I don’t know when I started running for 1900 yuan." He recalled.

What does it mean to cut the price of 1000 yuan again? According to Ninebot’s previous manufacturing experience, such a price is almost impossible to achieve.

Therefore, on the premise of ensuring safety and performance, the team finally carried out a lot of algorithm optimization to improve efficiency, and replaced many high-precision parts with high prices and low production with mature industrial-grade devices and solutions with high prices and low prices. Gao Lufeng said: "We are very clear that basically no one in the industry can achieve this level of price. This is a conscience production, which is basically the cost price. " Xiaomi’s support through the supply chain is also an indispensable condition for the realization of this "floor price". "For example, like LG batteries, with our original production capacity and bargaining power, it is difficult to talk about good prices. The Xiaomi ecological chain took us to talk, and soon the price was’ beaten’."

Like Ninebot, Yeelight, the bedside lamp brand in Xiaomi ecological chain, has also experienced this "bargaining" process. Jiang Zhaoning, the founder of the company, said that the original price of Yeelight in 500 yuan was cut to 299 yuan. However, according to the original sales method, channel and advertising expenses accounted for at least 50% of the selling price, and this part of the expenses was covered by Xiaomi’s existing e-commerce channels and marketing team after cooperation with Xiaomi.

Chen Xiaoping, the founder of Yunmi Technology, was born in a traditional household appliance enterprise. He revealed that taking water purifier products as an example, the cost of the traditional household appliance industry only accounts for one-third to one-sixth of the retail price. But in the face of Xiaomi’s cost pricing method, they still experienced some struggles.

Gao Lufeng later imagined that even if the price of the product was set at 2999 yuan at the beginning, it would be subversive to the balance car market. Even if the price was higher in 500 yuan, there would be a net profit for 500 yuan, but there was no assumption in business. "If the price was not hard enough for yourself, Ninebot would not be as unique as it is now."

Ninebot may be the most experienced enterprise in the whole ecological chain for the attack of Xiaomi’s cost-effective model. This understanding stems from the strong contrast between two fates: on the one hand, Ninebot quickly opened up the volume of the balance car market under the transformation of Xiaomi; On the other hand, Segway, an industry tycoon, has always taken the mid-to-high-end route, entrenched in enterprise-level and niche markets. However, due to its high cost and eclipsed performance, it was eventually taken over by Ninebot. Therefore, Wang Ye, another founder of Ninebot, shouted the slogan very early: Don’t be the second Segway, be a consumer product.

For eco-chain enterprises, the biggest difficulty is not to straighten out the price, but to pass the product manager of Xiaomi and even Lei Jun before the product goes on the market. Jiang Zhaoning didn’t adapt to it at first. "Sometimes it takes two to three months for internal testing and public testing to add up. We have developed products for American customers before, and we have never suffered such torture."

Ninebot’s most uneasy and fastest-growing period is also the eve of the listing of the No.9 balance car. That product was originally scheduled to be launched on July 21, 2015, but one day in June, after seeing the prototype, Lei Jun thought that the appearance and many details did not reach the extreme he requested. "Ray always commanded, we basically didn’t resist, and the appearance was all over again. It was officially released on October 19 th. " Gao Lufeng said.

During the three months after Lei Jun proposed the revision, more than a dozen designers of Ninebot moved their computers to work in a conference room on the first floor of Xiaomi Company every day. "That stage was particularly painful. Our industrial design team completely collapsed after getting the instructions to reinvent the appearance." Gao Lufeng said.

The effect is also obvious. Under the impetus of Xiaomi, Ninebot, a startup company established only three years ago, acquired Segway, the originator of the balance car with a history of 16 years. The success of Ninebot is Liu De’s masterpiece. "Give it a push and you will buy Segway". Zhimi Technology and Huami Technology were both valued at nearly $300 million in the last round of financing, and now they are growing exponentially. Ninebot’s latest valuation has also risen to $1.2 billion, and it will launch an overseas listing plan. It seems that they are "forced" by Xiaomi, and this one is worth it. But more importantly, can these unicorns hatched by Xiaomi become truly "billion-dollar enterprises" after gradually reducing their dependence on Xiaomi?

If you still want to know the full text, please poke it here.

() The business review of the Board of Directors in the first half of 2023 is as follows:

　　I. Description of the industry and main business of the company during the reporting period.

　　The company is mainly engaged in the mining of salt mines, the production and sales of salt and salt chemical products. The main products include salt, industrial salt, small industrial salt and soda ash. According to the Guidelines for Industry Classification of Listed Companies (revised in 2012), salt belongs to the food manufacturing industry in manufacturing industry (C14); Two alkali industrial salts and small industrial salts are "chemical raw materials and chemical products manufacturing" in "manufacturing" (C26); Soda soda is "inorganic alkali manufacturing" (C2612) in "chemical raw materials and chemical products manufacturing".

　　1. Salt industry:

　　According to the classification of uses, salt products can be divided into salt, alkali industrial salt and small industrial salt. Salt is a necessity of people’s life, and its sodium element is an indispensable element in human growth and development; The industrial salt of caustic soda is the main raw material of caustic soda industry, which is mainly used for the production and manufacture of caustic soda and soda ash. Small-scale industrial salt is an industrial salt other than alkali industrial salt, which is mainly used in printing and dyeing industries. The production and sales of industrial salt and small industrial salt mainly depend on the downstream operation of the two alkali industries, and the price cycle is obvious. The production and sales of edible salt are relatively stable, and there is basically no periodicity. From the point of view of product price, after the reform of salt industry system, the wholesale price of salt dropped obviously, but the price of salt in Shangchao terminal remained basically stable, and the profit shifted from wholesale enterprises to retail enterprises. Generally speaking, the existing domestic salt production capacity is greater than the consumption demand, and there is a certain degree of oversupply. Therefore, enterprises with integrated production and marketing and strong channel control ability are more capable of coping with challenges.

　　2, soda ash industry:

　　Soda industry belongs to the middle reaches, and the relationship between supply and demand determines the price of soda, while the price of raw salt and energy determines the cost, and the price and cost jointly determine the gross profit margin of soda industry. From the perspective of market players, China’s soda ash industry is an industry dominated by medium and large enterprises, with a relatively high concentration. The research and development of technologies, equipment and materials related to the treatment of "three wastes" and energy saving and consumption reduction have promoted the continuous strengthening of technological innovation, equipment upgrading and clean and efficient energy utilization in China’s soda industry, and accelerated the transformation and upgrading from low-end manufacturing to high-end manufacturing. Under the influence of domestic macro-economic environment, soda ash industry has a certain periodicity, which mainly depends on the development needs of downstream photovoltaic glass, flat glass, daily glass, synthetic detergent, alumina and other industries.

　　3, salt cave oil and gas storage industry:

　　China is the second largest consumer of oil and natural gas in the world, and its dependence on foreign countries is high. In the face of the continuous turbulent international situation, the problem of energy security is becoming more and more serious. The country has successively issued a number of energy security or reserve policies, energy security is gradually rising to a national strategy, and oil and gas reserves have ushered in a period of development opportunities. The National Development and Reform Commission and the National Energy Administration pointed out in their guidance on energy security that "the construction of gas storage facilities should be accelerated. Do a good job in the overall planning and layout of underground gas storage and LNG storage tanks, and promote the intensive and scale construction of gas storage facilities. " Provinces (autonomous regions and municipalities) have compiled and issued special plans for the construction of provincial gas storage facilities, and encouraged local governments and relevant enterprises to share the investment and construction costs and benefits of gas storage facilities through cooperation in different places and joint ventures.

Second, the discussion and analysis of the business situation

　　In the first half of 2023, the company produced a total of 4,445,800 tons of salt and salinized products, an increase of 551,800 tons year-on-year, an increase of 14.16%; The production enterprises achieved a cumulative sales of 3,635,700 tons, an increase of 490,800 tons or 15.61% year-on-year, and a cumulative sales of 2,238,600 cubic meters of brine, an increase of 138,200 cubic meters or 6.58% year-on-year. The operating income was 2.901 billion yuan, a decrease of 4.23% compared with the same period last year. The basic earnings per share is 0.51 yuan. The main reason is that the same period of last year was a historical extreme, and the price of salt products fluctuated and fell during the reporting period, but compared with the average of the same period in 2020, 2021 and the same period in 2020 -2022, it still maintained a high growth level.

　　(a) steady investment, construction projects, the development potential continues to increase.

　　Guided by the new development pattern of "salt+energy storage" industry in the Tenth Five-Year Plan, the company made every effort to promote the construction of key projects under construction. The company and PetroChina Gas Storage Company jointly established Guoneng Company to promote the construction of the first phase of Zhangxing Gas Storage Project, and completed the main projects such as comprehensive building and auxiliary production houses, the main construction of the opening and closing station and the installation of major equipment such as power supply system. Well ZXK4-B and Well ZXK4-A were respectively connected with the target area, and well SY3 completed the plugging operation. At present, the construction period is reversed, the project is accelerated, and gas injection trial production is achieved during the year. Promote the comprehensive utilization project (Phase I) of brine salt production in gas storage, in which the preliminary administrative licensing work such as filing, energy assessment, safety assessment, environmental assessment and stability assessment has been completed for the refined liquid salt project, and the filing and energy assessment for the main salt production project has been completed. Set up a special class of sodium battery-grade soda ash product research and development project, speed up the research and development of production technology, and the product indicators meet the needs of target customers, which has now been transferred to the pilot stage.

　　(2) Stabilize production and expand channels, and continuously consolidate competitive advantages.

　　Give full play to the decision-making role of the marketing committee and the advantages of integration of production and marketing, strengthen the overall scheduling of production resource elements, scientifically organize parallel production, collaborative operation and linkage maintenance, pay close attention to the management of material consumption and energy consumption cost, accelerate the promotion of "intelligent change to digital transformation" and promote the long-term safe and stable operation of production. Solidly promote the construction of market channels inside and outside the province, and thoroughly implement the "spring ploughing action" in the provincial market. The sales of various salt products maintained a good momentum, and the proportion of Huai salt reached 84.34%. Continue to promote the "Spark Plan" in the market outside the province, make a new breakthrough in the sales of small packaged salt in the market outside the province, and further expand the influence of the market outside the province. The export business grew rapidly, and the salt products were exported to more than 30 countries and regions, such as Japan, South Korea, Southeast Asia, the Middle East, Europe and America, and were selected as "Sample Enterprises of China’s Foreign Trade Export Leading Index" in 2022. Declared China Time-honored Brand and China Quality Award, and was selected as one of the 100 typical cases of brand building of state-owned enterprises in the State Council SASAC for two consecutive years. Successfully held the "China Quality Miles-Huaiyan Bank and Huaiyan Quality Brand Conference", and released a series of new salt products, which won wide attention and praise from the market.

　　(3) Steady reform and innovation, and continuous improvement of endogenous motivation.

　　Deepen the new round of state-owned enterprise reform and deepen the promotion action. Focus on accelerating the construction of modern enterprise system, establish and improve the market-oriented operation mechanism system, and comprehensively establish the corporate governance model with the characteristics of Su Yanjing. Deepen the reform of "three systems" and stimulate the endogenous motivation and vitality of enterprises. Increase investment in scientific and technological research and development, focus on new product development, technical research, comprehensive utilization of salt cavities and other key tasks, and include 49 research and development projects such as intelligent storage of national reserve salt in the 2023 R&D project plan. In the first half of the year, 4 achievements at the municipal level and above were achieved, and 3 production problems and technical research problems were solved. Complete 4 key research achievements (items) of gas storage, energy storage and other cavity utilization technologies, and complete 2 pilot projects of new products; 9 patents (including 6 inventions) were accepted, and 6 patents (including 4 inventions) were authorized. Scientific and technological innovation was rated as a typical experience of national promotion of state-owned enterprise reform for three years by the State Council State-owned enterprise reform leading group office.

　　(4) Maintain safety and prevent risks, and continuously improve the governance system.

　　Deepen the promotion of benchmarking world-class management, strengthen supervision and assessment, and promote efficiency, effectiveness and effectiveness. Strengthen the construction of safety production system, do a good job in safety inspection and hidden danger management, formulate and issue the "double prevention management measures for safety risk classification management and hidden danger investigation and management", conduct a comprehensive physical examination of the double prevention system of each production unit, further consolidate the basic management of safety production, and continue to maintain a stable situation in safety production. Pay close attention to the quality management of salt and further improve the quality management system. We will promote the construction of enterprises governed by law and compliance management system, and determine the negative list behavior units of partners around key areas of compliance management. Actively carry out internal control audits and conduct special inspections on the implementation of internal control systems of six municipal salt companies. Organize research on contract risk prevention and control, strengthen the management of monetary funds and bills, and continuously improve the compliance management level and risk prevention ability.

Third, risk factors

　　(A) Macroeconomic cyclical risks

　　The main products of companies such as industrial salt and soda ash belong to basic chemical raw materials, which are closely related to the macroeconomic prosperity and the development of downstream industries. If the uncertain macroeconomic factors in the future lead to unsatisfactory economic recovery and weak downstream demand, and the release of production capacity in some regions affects market prices, it will put some pressure on the sustained and rapid growth of the company’s performance. The company will closely follow the market changes, adjust its business strategy and product structure in a timely manner, and make a good combination of technology, technology, equipment and management advantages, and strive to resolve the adverse effects brought about by changes in the economic environment.

　　(B) the challenges brought by market-oriented competition

　　The competition in the domestic salt market is becoming more and more fierce, and the gross profit space is squeezed. The company will actively seize the policy opportunity to stimulate the economy and promote consumption, give full play to the advantages of production and marketing, further strengthen the coordination of production and marketing, channel construction and sales resource integration, cultivate the market demand for high-quality and high value-added products, consolidate the domestic and foreign market share through multiple channels, and ensure the leading position in the industry.

　　(C) the risk of energy price fluctuations

　　Coal is the main energy needed by the company to produce salt and salt chemical products, and its price fluctuation has a great influence on the gross profit margin of the company’s products. The company mainly adopts the mode of linking factories and mines and direct procurement to reduce trade links, strive to reduce coal procurement costs, and actively respond to the risk challenges brought about by coal price fluctuations.

　　(D) Safety and environmental risks

　　As a large salt chemical production enterprise, there is a certain pressure of safety and environmental protection. With the continuous strengthening of energy consumption constraints and environmental protection requirements, it has a certain impact on the daily production organization of enterprises. As a green mining enterprise and a national-level green demonstration factory, the company has always adhered to the concept of green ecological development, continuously increased the investment in safety and environmental protection equipment, strengthened the safety training and daily management of employees, prevented illegal operations and emissions, and put an end to safety and environmental accidents.

Iv. analysis of core competitiveness during the reporting period

　　The company’s salt production capacity ranks among the best in China’s salt industry, with six core competitive advantages: "circular economy, mineral resources, regional transportation, technological innovation, integration of production and marketing, and well-known brands".

　　(A) advantages of circular economy. The company’s industrial system centered on "comprehensive utilization of rock salt resources and technological innovation of circular economy" has obvious advantages of circular economy. The self-developed "Downhole Circulating Soda Making Process" was included in the implementation guide of energy-saving technical transformation and upgrading in 2025 by the Ministry of Industry and Information Technology and other four ministries and commissions of the National Development and Reform Commission. It has been authorized to be used by other enterprises in the industry and has been popularized and applied in the industry. Guided by the "14th Five-Year Plan", the two chains of "circular economy industrial chain of saline-alkali calcium" and "industrial chain of salt cavity energy storage" have been built in depth, which have accumulated the advantages of salt cavity resources, brine consumption and technological innovation, and constructed a new development pattern of "salt+energy storage" industry.

　　(2) Advantages of mineral resources. The company has mineral resources with abundant reserves, excellent quality, thick deposits, high salt content and high salt grade. The mining rights of eight mining areas, including Zhangxing Salt Mine, Xiaguan Salt Mine, Jiangnan Salt Mine and Shitang Salt Mine, have a total reserve of 12.14 billion tons of ore, 7.094 billion tons of NaCI, 1.105 billion tons of associated Na2SO4 and a permitted production scale of 11.94 million tons/year. The company selects high-grade mining areas for salt production, which ensures the excellent quality of salt products. Abundant salt mine resources ensure the continuous supply of brine for salt and salt chemical products and the expansion of salt cavity economy, which has obvious advantages in the industry.

　　(3) Location traffic advantages. The company is located in Huai ‘an City, Jiangsu Province, and the economy in East China is active. It is an important production area of soda ash, chlor-alkali and other chemical industries. The market demand for salt and salt chemical products is large and it has a good location advantage. Small-scale industrial salt, alkali salt and sodium sulfate have a certain sales radius. Compared with other modes of transportation, the company adopts water transportation and has built its own wharf in the Beijing-Hangzhou Grand Canal, which has a longer sales radius and lower cost. Beijing-Shanghai, Tongsan, Ninglian and other expressways meet in China, and the Xinchang Railway runs through the territory, which is very convenient for land and water transport, creating unique conditions for the company to participate in market competition.

　　(4) Advantages of technological innovation. The company won the first "Jiangsu Science and Technology Innovation and Development Award Excellent Enterprise" and "Jiangsu Manufacturing Outstanding Contribution Award Excellent Enterprise" and other honors. Focusing on building a new pattern of "salt+energy storage" industry, increasing investment in scientific and technological research and development, focusing on key tasks such as new product development, technical research, and comprehensive utilization of salt cavities, 49 research and development projects such as intelligent storage of national reserve salt were included in the 2023 R&D project plan. In the first half of the year, 4 achievements at the municipal level and above were achieved, and 3 production problems and technical research were solved. Complete 4 key research achievements (items) of gas storage, energy storage and other cavity utilization technologies, and complete 2 pilot projects of new products; 9 patents were accepted (including 6 inventions) and 6 patents were authorized (including 4 inventions).

　　(5) Advantages of integrated production and marketing. The company is one of the few salt enterprises with integrated salt production and marketing in China. It pays attention to and strengthens the construction of marketing system, sets foot in the fields of channel construction, new product development and e-commerce more quickly, and promotes the reasonable growth of marketing work and the effective improvement of quality. It is in the leading position in salt sales radiation range, sales network service response, sales ratio inside and outside the province, and its business innovation ability and market competitiveness continue to increase, and its corporate reputation and social influence continue to increase.

　　(6) Advantages of well-known brands. The company vigorously implements the "three products" strategy, aims at high-end internationalization of the brand, creates "Millennium Huaiyan", shapes the first-class brand, and enhances the corporate brand and product image. "Jingshen" trademark is a famous trademark in Jiangsu Province, and "Huai" brand is a well-known trademark in China. The company has successively won the Top Ten Enterprises in China Light Industry Salt Making Industry, the Top 100 Enterprises in China Light Industry and the Top 50 Enterprises in China Light Industry Food Industry, and has successively won many awards such as Jiangsu Provincial Governor’s Quality Award, the 18th National Quality Award, the Asian Quality Excellence Award and the First Jiangsu Boutique. Natural edible salt, seaweed iodine edible salt, natural calcium edible salt and other products have been recommended as upgraded and innovative consumer goods by the Ministry of Industry and Information Technology.

Aouita 12, which was officially listed in November, showed its top-notch value and intelligent charm, which can be said to have given users full expectations. It is reported that in the first month of listing, the Aouita 12 big orders exceeded 20,000, and the average order price exceeded 350,000 yuan, which shows that users recognized the strength of Aouita 12. Next, Aouita 12 will be delivered in 19 provinces and 40 cities one after another, starting a user-oriented trip.

Aouita 12′ s efficient delivery action has won praise from many car owners. Of course, what users really expect is its excellent product strength. For example, many novice drivers have a certain psychological burden when driving a new car on the road. In order to alleviate the pressure of novice drivers, Aouita 12 is equipped with a series of safety and intelligent travel guarantees, so that novices can get on the road and become "old drivers" in seconds. It is reported that Aouita 12 adopts AVATRUST extrasensory system, which comes standard with 29 smart driving sensors and 19 active safety functions, to create all-round safety hardware configuration to ensure users’ safe travel.

It is worth mentioning that Aouita 12 is equipped with HUAWEI ADS 2.0, which is far ahead of Huawei’s advanced intelligent driving system. It is equipped with intelligent driving and navigation assistance in urban areas, which can automatically identify traffic lights, automatically select lanes and take the initiative to overtake according to navigation routes, actively avoid pedestrians and non-motor vehicles, flexibly handle road conditions at unprotected intersections in cities, and realize functions such as occupying roads and avoiding obstacles and turning around at intersections. The problem of reversing is also a headache for novice drivers. Aouita 12 has an auxiliary parking function, which can accurately identify empty parking spaces, realize 360-degree visible parking, and also support parking in various postures, so there is no need to worry about parking angles.

In addition, Aouita 12 chose to use the GOD network to upgrade the driving safety of users again. GAEB can help vehicles identify abnormal obstacles outside the "white list" and take emergency braking in time before vehicles collide, so as to avoid accidents or reduce accident losses and provide users with a safe driving experience.

Finally, it has to be said that Aouita 12 equipped with CTP high-performance and high-safety ternary lithium battery can not only meet the five-star safety standard, but also has certain water resistance. Through its unique air pressure sensor design, it can realize 24-hour all-weather thermal runaway monitoring, give an accurate warning before the thermal failure of the battery, and send an alarm prompt to the user within 30 seconds to ensure the driving safety of the user.

To sum up, in the highly competitive market, Aouita 12 stands out from the crowd because of its profound insight into users’ needs and excellent product strength. Next, Aouita will always insist on creating and serving with heart, constantly innovating and breaking through, and continue to provide users with cost-effective products and a safe and comfortable driving environment.

At the moment when the pre-sale began, the pre-sale price was not announced, and the operation of Qi Rising Road Star Era ET was somewhat confusing; But fortunately, the price information was confirmed later, so after having the most important evaluation reference, the evaluation of this car will inevitably reverse.

Price information:

• Extended version, RMB 19.9, RMB 21.9 and RMB 239,000.
• Pure electronic version, RMB 23.9, RMB 24.9, RMB 25.9, RMB 28.9 and RMB 329,000.

For a new energy medium and large SUV, this price is really not high; Its body size is 4955*1975*1698 mm, and the wheelbase is 3000 mm. It is a standard C-class car, and the visual effect of the car is good, especially if the wheelbase is large enough, it will make the side of the car look more tense. As for the height of the car body, it is not very high, so the style of this car is biased towards sports; The controversy about vehicle design is not discussed here. Some car enthusiasts think that the vehicle design is similar to a G9, but after comparison, it is found that it is only similar rather than similar.

Interpretation of extended range edition

The dynamic parameters of the extended-range version of Star Age ET have finally been confirmed, which are basically the same as predicted, but one thing is unexpected, that is, the extended-range four-wheel drive version has not been seen at present; This version is equipped with a 1.5T range extender, and the engine adopts a vertical layout; The motor is a rear-mounted model, so the extended-range version is determined to be rear-driven. Its power reserve is 195 kW/324 N m, and its 100-kilometer acceleration score is 7.8 seconds, which is quite satisfactory.

Its lowest charged fuel consumption is 5.2L/100km, and its fuel consumption performance in the same class car is quite good.

Without four-wheel drive, this car needs a long enough pure electric cruising range.

Its standard is that the test cruising range of WLTC is 161 kilometers, and the corresponding test cruising range of CLTC is 200 kilometers.

This standard is regarded as the first-line level of the same class car, and its overall level can be aligned with the rear-drive version. It is a four-wheel drive with a slightly higher positioning, and the two cars are not comparable. Then asking M7 is the key to stand out from the rest of Star Age ET. The guide price of the rear-drive version of the car is 24.98, 26.98, 28.98 and 309,800 yuan, the limited-time discount of the low-version is 20,000 yuan, the acceleration of 100 kilometers is 7.8 seconds, and the pure electric mileage is 200 kilometers under WLTC working conditions. Its pure electric mileage is long, but the price is a little higher after all, so the extended-range version of Star Era ET is still promising.

Perspective pure electric plate

The pure electric version of Star Era ET has two series: rear-drive and four-wheel drive. The pre-sale price of the rear-drive version is 23.9, 25.9 and 289,000 yuan, corresponding to the cruising range of 625 kilometers and the flagship version of 760 kilometers. The pre-sale price of the four-wheel drive version is 249,000 yuan and 329,000 yuan, and the cruising range is 540 kilometers and 655 kilometers respectively. The cruising range of the four-wheel drive version is not long.

The 100-kilometer acceleration score of the rear-wheel drive version is 6.4-6.6 seconds, the four-wheel drive low-profile version is 4.7 seconds, and the flagship version is 3.8 seconds, and the performance is quite good.

Now let’s talk about the key configuration:

Laser radar.

The extended-range version is not equipped with a lidar, nor are the pure electric rear-drive and four-wheel drive low-profile versions. The rear-drive middle-and high-profile versions and the four-wheel drive flagship version are equipped with a lidar as standard; That is to say, the starting price (pre-sale price) of the version equipped with lidar is actually 259,000 yuan, which is not too high.

The competing products of Astrology ET should be, because there are no pure electric versions of the universe M7 and the ideal L6; The guide price of Tucki G9 rear drive version is 253,900-304,900 yuan, and the price of four-wheel drive version is 354,900 yuan, which is higher than that of Xingjiyuan ET pure electric series. Its cruising range is 570-702 kilometers, and the four-wheel drive version is 650 kilometers, which has no advantage in this respect; Therefore, the laser radar of the intelligent driving system has become one of the key configurations to win the battle. Tucki G9 has been equipped with dual laser radars since the rear-drive version of 289,900 yuan, and the starting price of this version is still higher than the corresponding version of Star Era ET.

Conclusion:

The final guide price of Star Road Star Era ET should meet the expectations of most of its users, but it is a pity that the extended-range version does not have four-wheel drive. If we can add an extended-range four-wheel drive version with a price of about 250,000 yuan, I believe its sales volume is likely to be on a par with that of the M7 brand, and even disrupt the layout of the two brands.

Pure electric series can give favorable comments, and this car is not disappointing.

Tianhe Auto editor, welcome to turn to praise.

　　On August 29th, The Paper reporter learned that a few days ago, six express delivery companies, including Zhongtong, Yuantong, Shentong, Baishi, Yunda and Polar Rabbit, issued notices on the intranet one after another, stipulating that the distribution fee of the whole network will be increased from September 1st.

　　The salary of most couriers is linked to the distribution fee, which is the main source of income. This time, the 0.1 yuan is raised for each ticket, that is, the courier earns 10 cents more for each piece.

　　All six courier companies said that the fee adjustment was in response to the "Work Opinions on Doing a Good Job in Protecting the Legal Rights and Interests of Courier Groups" formulated by the seven central ministries and commissions, and further implemented the specific deployment of the State Post Bureau on doing a good job in protecting the rights and interests of couriers, and effectively improved the legitimate rights and interests of couriers. The above-mentioned "Opinions" pointed out that it is necessary to formulate the "Guidelines for the Accounting of Express Terminal Fees" to urge enterprises to maintain a reasonable level of terminal fees.

　　Monthly income rises by at least 500 yuan.

　　At the regular press conference of the State Post Bureau in the third quarter of 2021 in July this year, Jin Jinghua, director of the Market Supervision Department of the State Post Bureau, once said that the formulation of the "Guidelines for the Accounting of Express Terminal Payment" solved the standard problem of single-piece payment, while the formulation of labor quota was to solve the labor intensity problem of courier brother.

　　ZTO Express said that the increased payment fee will be sent directly to the delivery clerk’s palm-connected app, and the payment standard of existing payment salesmen in all Zhongtong outlets in China shall not be lowered.

　　YTO Express said that the increase in the express delivery fee is used to increase the courier’s income, and the franchise outlets are not allowed to intercept it at will.

　　Shentong Express said that outlets will be strictly required to strictly implement the policy and benefit couriers without discount. We will continue to promote the implementation of the courier incentive policy, optimize the courier guarantee mechanism, establish special skills promotion channels, improve the courier’s working environment and other measures to ensure that "the little brother is at ease and the courier is at ease" and effectively improve the sense of acquisition, happiness and security of the courier group.

　　Extreme Rabbit Express said that all the distribution fees are settled and distributed by the franchisees’ outlets, and the headquarters will set up an inspection team and provide channels for internal complaints from the recipients to ensure the implementation of the policy.

　　Yang Daqing, an expert in the logistics industry, told the The Paper that the courier directly benefited from the increase in the distribution fee. At present, the courier’s salary is based on piece-by-piece commission, and the incentive mechanism of the courier company is also "heavy collection and light delivery" (high commission and low delivery cost). In this case, the courier’s delivery performance motivation is insufficient, which also makes some lazy people deliver and "sign for it". In the third-and fourth-tier cities and the central and western regions, couriers send more pieces and less pieces. In addition, the courier’s income can’t come up, which also causes a higher turnover rate of front-line personnel.

　　A little brother from ZTO Express told reporters in The Paper that each courier delivers different areas, and the delivery quantity is different, but it can basically be stabilized at around 30000 pieces a day, and sometimes there will be individual cases of over 2000 pieces or over 500 pieces a day. It is estimated that the overall delivery order will be around 5,000 to 10,000 pieces a month. Raising the 0.1 yuan/ticket distribution fee for the whole network means that your monthly salary will be raised by about 500 to 1000 yuan in the future.

　　In recent years, with the price war of express delivery, it has become a common phenomenon to reduce the terminal payment. A person in charge of Yuantong Zhengzhou Branch told The Paper that the terminal payment fee was adjusted according to market research, and now it is declining year by year, and it has dropped to 98 cents.

　　Yang Daqing said that the increase in distribution fees indirectly benefited franchise outlets and consumers. In recent years, due to the rising cost of manpower and property, the express outlets generally do not increase their income, and some express outlets even have negative profits. The express headquarters company has increased its fees, which can alleviate the operating pressure of express outlets and stabilize the grassroots team. And that delivery fee is increase, which is beneficial to improving the enthusiasm of courier for door-to-door delivery and improving the consumption experience.

　　Is the increase in payouts expected to contain the price war?

　　A related person in charge of Zhongtong told the The Paper that this payment is an internal settlement of the enterprise, and the increase in payment will not affect consumers’ online shopping experience.

　　Will the increase in distribution fees for internal settlement of enterprises have an impact on enterprise performance? Zhao Xiaomin, an expert on express delivery, told the The Paper reporter that "for express delivery companies, the performance will be affected by the transmission mechanism. According to the current situation of joining express delivery companies, with the increase of distribution fees and cost transfer, the product structure and price of the whole network will be adjusted in the future, and the increase of distribution fees will eventually be shared to the end. Next, we need to continue to pay attention to the adjustment of the transfer fee, the most important thing is to pay attention to whether it has the function of reversing the express price. It is expected that the transfer fee may be raised in the future, and there will be a gradual increase in the final terminal price. "

　　Chen Zhaolin, an analyst of Southwest Securities Logistics Industry, told the The Paper that at present, the calculation methods of delivery fees by express delivery companies are different. Among them, Zhongtong and Baishi, the delivery fee income of express delivery is settled to the delivery outlets after the collection outlets, and is not included in the revenue system of listed companies. In Yuantong, Shentong, Yunda and other companies, the distribution income of express delivery is included in the company’s operating income, and the distribution cost is also charged accordingly. But these are only different in financial terms, and there is no substantive difference in business itself.

　　Regarding whether the increase in distribution fees will return the express delivery price to normal, Chen Zhaolin said that this is an opportunity and it depends on further policies. "According to the guidance of the policy, the price of full-caliber express delivery will not drop again, but it remains to be seen whether the price of express delivery can rise. As the express delivery company is jointly undertaken by the headquarters and franchisees, this fee increase will not continue in the future ‘ Price war ’ Under the premise, it is bound to have an impact on the company’s performance. "

　　In terms of industry development, Yang Daqing analyzed that the express delivery industry in China is currently entering a medium and high-speed growth stage, and it is in a window period from price competition to value competition. "Increasing the delivery fee will increase the operating cost. Express delivery companies can only hedge the pressure of rising costs by continuously upgrading their services and strengthening lean management, gain a foothold in the market, and increase the delivery fee to further stabilize the price of express delivery services at this stage. China express market service products need further structural optimization, that is, low-end prices buy low-end services and high-end prices buy high-end services. This price structure is conducive to the sustainable development of express delivery enterprises. "

2022 has come to an end, and the automakers’ annual rhetoric has also reached the moment of verification. As the saying goes, saying goodbye to the old and welcoming the new, only by saying goodbye to the old can we live up to the new.

Tan Qing said that the AI team specially planned the annual inventory topic, and looked back at the car companies that had not completed the annual sales target KPI, hoping to be able to face shame and then move forward bravely in the new year.

In today’s issue, let’s talk about Lantu Automobile. In early 2022, Lantu Automobile CEO Lu Fang put forward the annual work goal at the company’s annual work meeting: annual sales of 46,000 vehicles and annual production of 48,000 vehicles. But on July 8, the company adjusted the annual sales target to: annual sales must reach 31,000 vehicles, challenging 37,000 vehicles.

Now that 2022 is coming to an end, Landmap only completed 17,700 sales in the first 11 months, with a completion rate of 56.94%. According to this trend, it is almost impossible to complete KPIs.

At the beginning of the Lantu project,Zhu Yanfeng, chairperson of the group, once said: "You have to run at the beginning, and you have to sprint at the beginning." Standing today from the perspective of Lantu’s sales, Lantu’s sales did not run, even if it started the sprint mode.

In the first half of 2022, Lantu’s monthly sales have been hovering around 1,000 units. In order to boost sales, Lantu Automobile held a cadre meeting in July 2022 and announced the largest senior personnel adjustment since its establishment.

It is reported that this job change involves a number of executives, including the top manager, Lu Fang, who will no longer serve as the chief technology officer (CTO) of Lantu Automotive and will be replaced by Wang Junjun, but Lu Fang will still serve as the CEO of Lantu.

At the personnel adjustment meeting of Lantu, Zhu Yanfeng, chairperson and party secretary of Dongfeng Company, and You Zheng, a member of the Standing Committee of the Party Committee of Dongfeng Company, deputy general manager and chairperson of Lantu Automobile, both made speeches and stated that they would go all out to achieve the annual business goals and achieve a rapid increase in sales.

It is not difficult to see that the long-term sluggish sales of Lantu have aroused the concern of Dongfeng executives. In fact, at the beginning of this year, Lantu set a sales target of 46,000 vehicles for the whole year, and only less than 15% were completed in the first half of the year.

In May, Lantu once again held a "100 million vehicles" mobilization meeting, clearly requiring that in the next 100 days, the sales target of 10,000 vehicles should be fought. But before the 100 days, at the mid-year work meeting in early July, Lantu lowered the annual sales target to 31,000 vehicles.

Even so, for Lantu, which only completed 17,700 vehicles in the first 11 months, only 56.94% of the target of 31,000 vehicles was completed. According to this tepid market performance, if Lantu wants to complete the target after the target adjustment, it is almost impossible to sell 13,300 vehicles in the last month.

After some personnel adjustments in July, from the month-on-month sales data, Lantu’s sales seem to have improved slightly. From July to October, monthly sales were 1793, 2429, 2519 and 2553 respectively.

Unfortunately, by November, the stamina for personnel adjustments seemed to have run out, and monthly sales fell again to 1,508 units, even lower than the 1,553 units in January.

It should be noted that during the period from July to October, there were still some "moisture" factors in the sales of Lantu. On July 16, Lantu Dreamer officially launched the delivery of the first batch of car owners. On the day of delivery, 97 central enterprises, state-owned enterprises, and major customers purchased and signed 6,000 Lantu Dreamers.

If the priority delivery is these large customers, during the July-November period, the 6,000 orders signed at that time are almost complete. In other words, B-end orders have contributed significantly to the increase in monthly sales in recent months.

However, automakers cannot survive in the long term by relying on the B-end market. Once this part of the market is saturated, it will have a huge impact on enterprises. BAIC New Energy is a precedent.

November’s sales have been falling at a rate visible to the naked eye. In the days to come, can Lantu still find the next batch of revered B-end customers?

The loneliness of the first two cars may be hopeless, but it cannot stop the new car released by Lantu. On the evening of December 15, Lantu Chasing Light officially debuted, priced between 30-400,000 yuan, intending to impact the high-end car market.

The release of the car chasing light means that starting from the launch of the first model, Lantu FREE, in June 2021, Lantu Auto has deployed three models in a year and a half, spanning the fields of SUVs, MPVs, and sedans.

Optimistically speaking, the product layout of Lantu is relatively complete. But compared with Li Auto, the latter has only sold the ideal ONE car for so long. So from another perspective, it may be helpless for Lantu to frequently layout new models in a short period of time.

Overall, looking at the performance in 2022, Lantu’s big moves can be described as one after another, but the sales volume has never been improved.

Poor sales directly affect Lantu’s profits. In 2021, Lantu Auto’s operating income was 1.77 billion yuan, and the annual net loss was 700 million yuan. In the first half of this year, Lantu Auto’s net loss reached 740 million yuan, and the cumulative loss in the past year and a half exceeded 1.40 billion yuan.

According to the sales volume and net loss in the first half of this year, the average net loss of each sold car is 130,000 yuan. It can be seen that Landscape urgently needs to rely on large sales to amortize the huge investment costs in the previous period, but this does not seem to be easy.

Although Lantu has a dream to benchmark BBA, in reality, Lantu is actually a fledgling waist brand. According to Tianyancha, Lantu Automobile was established in 2018. Even though it is backed by Dongfeng Motor Group, compared with the century-old BBA, there is still a big gap in cultural heritage and market foundation.

For consumers, if they want to persuade them to buy a luxury car, it is not enough to have product strength alone, but also the core selling points that can support the brand’s high-end image.

In terms of creating a sense of luxury, Lantu FREE is equipped with the world’s first one-piece liftable triple screen, as well as welcome modes VOYAH Moment, VOYAH Attention, and VOYAH Care to create a sense of exclusive atmosphere. This direction is indeed correct.

However, in terms of hardware configuration, Landscape used the backward NXP i. MX8 chip, which caused the fluency of the car and the software optimization ability to keep up in time, which attracted many car owners to complain. To remedy this, Landscape released a service package to upgrade the 8155 cockpit chip in May this year, which cost the owner 12,999 yuan to upgrade.

In contrast, Extreme Krypton, which is also a luxury new power brand, happily announced that it would upgrade the cockpit chip to Qualcomm 8155 for free after a similar car card appeared. This quickly reversed Extreme Krypton’s reputation and gradually increased its sales.

Therefore, Landscape has spent a lot of effort to create a sense of respect, but due to improper handling of the car and machine card problem, it has left a bad reputation.

On the surface, it seemed innocuous, but a glimpse of the whole leopard showed that the team of Lantu did not pay enough attention to the sense of technology, and seemed to follow the crowd to make some eye-catching flower work.

Little do they know that in the context of the intelligent era, creating a sense of technology is a shortcut for new power brands to improve high-end brand perception, and it is also a product highlight that is easier to shine. If there is a mistake in this part, how can we compete with BBA, which has a deep foundation in the brand, for the market?

In addition to the sense of technology, in terms of battery safety, Lantu also wants to come up with convincing self-developed technology. But under the test of ruthless high temperature, it is too difficult to make battery safety a product highlight.

In June this year, there was a video on the Internet showing that a Landmap FREE caught fire near the charging pile. In the hot summer weather, it is the season when the battery spontaneous combustion is high, and it is not a big deal.

But bad is bad. Before that, Lantu had always emphasized "battery safety" in its brand promotion. There have been many car review articles that have hyped Lantu’s battery safety, and many headlines have shown full confidence in battery safety technology.

For example, "Why did Xiaopeng, Tesla and other trams spontaneously ignite, but Lantu FREE did’no smoke or fire ‘", "New energy vehicles spontaneously ignited one after another, and Lantu finally cracked the battery security password and refreshed the industry record". These articles seem to tell users that other battery safety is almost meaningless, and only Lantu’s technology in battery safety is impeccable.

After the spontaneous combustion accident, the Lantu official said, "There was no loss of personnel or surrounding property, and we are actively investigating the cause of the accident together with the supplier." However, the specific cause of the spontaneous combustion has not been searched online for the official explanation of the Lantu official.

In fact, as early as when the Lantu brand released its proud mica and amber batteries, not catching fire was the advantage advertised by the manufacturer. But interestingly, after this spontaneous combustion accident, Lantu’s "non-burning golden body" has been broken. According to incomplete statistics, in terms of publicity, Lantu’s dissemination of battery safety technology does not seem to be as high as before.

Perhaps Lantu’s battery safety technology still needs to be strengthened, and before it is truly safe, battery safety is not enough to be a plus for Lantu’s product strength.

In general, for new luxury car brands, if they want to compete with first-tier brands in the market, they need to come up with their own core selling points and have their own differentiated competitiveness that is enough to impress users. Lantu is indeed working in this direction, but from the perspective of making up for the car’s machine card and battery safety, the degree of effort is not enough.

LANTU FREE has been benchmarking Ideal ONE since its inception. Both players on the extended range track have very different fates. Ideal relies on Ideal ONE to carry the banner of a brand, but LANTU FREE gradually disappears from everyone.

In fact, the range extension technology was not complicated. Lantu was backed by Dongfeng, a big tree, and never lacked the funds and resources needed to build a car. But why couldn’t Lantu learn the ideal ONE?

In the opinion of AI, compared with the ideal ONE, the biggest problem of Lantu is that the product positioning is not clear enough.

The positioning of Ideal ONE is quite accurate. In terms of market segmentation, Li Auto divides consumers in the Chinese auto market into family users and non-family users. With internal discussions and iterations, the final consensus is that for Li Auto, the concept of "family user" refers to family users with (one or more) children aged 0-14 at home.

Looking at Landmap again, when talking about the difference between the user population and Li Auto, Lei Xin, the former chief brand officer of Landmap, once said, "The target audience of Landmap FREE is a new backbone who is steady and enterprising, exploring and trying new things. Steady and enterprising, steady progress, not radical, not conservative." In the opinion of Zhu Yanfeng, chairperson of Dongfeng Company, Landmap’s target audience is a "new backbone" force with a good educational background. They respect dignity and friendship, pursue freedom and freedom, and hope to have a tasteful car life.

Therefore, from the perspective of product positioning, Ideal ONE has accurately considered the user’s family members compared to Landscape FREE, while the latter only knows that its users are "new backbone" groups without clear portraits.

If a model cannot establish a clear and perceptible product image in the minds of consumers, the decision-making cycle of consumers will be lengthened, and after a period of hesitation, other competing products may be selected. Therefore, Lantu’s claim to build a "user-oriented technology enterprise" is only a "self-moving" speech, not a closed loop.

One consequence of inaccurate positioning is not knowing where to spend the cost.

Ideal ONE can be recognized by the market because it captures the real demand of home users for cars: six-seat large space. At this time, there can be trade-offs in the resources invested in car building, such as ideal engines, motors, car systems, chips, etc. from suppliers.

When the policy determines that the pure electric battery life can enjoy subsidies above 50km, the pure electric battery life is 51km of the pressure line. By subtraction, the ideal not only meets the user request, but also reduces the cost.

In terms of displacement and structure, the Landscape FREE is equipped with a 1.5T four-cylinder engine (the ideal ONE is 1.2T three-cylinder). In terms of rated power generation, the Landscape FREE 60Kw is also higher than the ideal ONE of 45Kw; even in terms of ride comfort and NVH, the Landscape FREE is also better than the ideal ONE. On the contrary, on chips that should not save money, Landscape is slightly stingy when upgrading chips.

But unfortunately, users are not looking at parameters. In terms of parameters that are difficult for users to perceive, Lantu FREE seems to have given a lot of sincerity. In fact, it is doing useless work in places that users don’t care about at all, and it also eats part of the profit.

The root cause of entering such a misunderstanding is that the market positioning of the product is not clear enough, and the actual needs of the so-called "new backbone" group cannot be discerned.

Perhaps it was because Lan Tu was unable to differentiate its competitive advantage, so when it was disseminated to the outside world, Lan Tu had to emphasize its "national team" attribute.

"Lantu is positioned as a high-end new energy vehicle brand in the national team," said Liu Zhanshu, deputy general manager of Lantu Automotive Sales and Service Co., Ltd. "Our direct competitor is the BBA after full electrification."

At this year’s Chengdu auto show, Lantu launched the "official revision" of Lantu’s FREE DNA. According to Liu Zhanshu, "Tai Chi Black and Tai Chi White are two colors derived from the traditional Chinese Tai Chi culture, which can show the layered sense of Chinese ink and wash, creating a unique Chinese color."

In fact, for a waist brand, if the car has not sold much, but often endorses the product in the name of China and the country, I am afraid it will only give people a sense of "A Dou who can’t be helped".