Following the hot sale of Huawei Pura 70 Ultra and Huawei Pura 70 Pro last week, Huawei Pura 70 and Huawei Pura 70 Pro+ were officially launched at 10:08 on April 22nd. ?

For Huawei’s mobile phones, the sales fever of "selling out immediately after listing" continues. At 10: 08 on April 22, Huawei Pura 70 and Pura 70 Pro+ opened their first sales and sold out quickly. According to official website, the starting price of Huawei Pura 70 is 5499 yuan, and the starting price of Pura 70 Pro+ is 7999 yuan.

In addition to the high popularity of mobile phones, Huawei has also made a strong attack in the automotive field.

On April 24th, Huawei will hold two conferences: Huawei Smart Car Solutions will hold the "2024 Huawei Smart Car Solutions Conference" and Huawei Digital New Energy will hold the "2024 Huawei Smart Electric & Smart Charging Network Strategy and New Product Launch Conference".

"Assault sales" reappears, and Pura 70 is hot.

On April 18th, Huawei launched the "HUAWEI Pura 70 Series Pioneer Program", and Pura 70 Ultra and Pura 70 Pro went on sale at 10:08 on the same day.

It is understood that there are four models of Huawei Pura 70 series. In addition to the Pro and Ultra versions that were launched on April 18, the remaining Pura 70 and Pura 70 Pro+ were also sold separately at 10: 08 am on April 22. From the price point of view, the Pura70 model with the lowest price in Huawei Pura 70 series starts at 5499 yuan, and the starting price of Huawei Pura 70 Pro+ is 7999 yuan.

It is understood that both Huawei Pura 70 Ultra and Pro series adopt super-focusing macro telephoto. Pura 70 Ultra is the only model equipped with super-focusing telescopic main camera, which is also a major innovation of Huawei in the field of mobile imaging. It is also equipped with the industry’s first rotating telescopic lens structure. Compared with conventional lenses, this design can take into account the thickness of the lens and the fuselage, and at the same time, plug in high-standard camera lenses to enhance the image ability of mobile phones.

At present, Pura 70 series continues the sales popularity of Mate 60 series, and the scene of "sold out in one second" has appeared many times, and the overall sales of Huawei mobile phones are also recovering strongly. Counterpoint data shows that smartphone sales in China bottomed out in the fourth quarter of 2023, increasing by 6.6% year-on-year, of which Apple’s mobile phone sales decreased by 9% year-on-year, and Huawei’s sales increased by 71.1% year-on-year.

At the same time, Huawei has also "recovered lost ground" in the high-end mobile phone market. Counterpoint report shows that in the global high-end smartphone market of 600 dollars or more (about 4,333 yuan) in 2023, Huawei reached 5% of the high-end market share, up from 3% in the same period in 2022.

Wang Peng said that Huawei’s R&D strength is its core strength, especially in communication technology (such as 5G), camera technology and artificial intelligence technology. Innovations in these fields make Huawei mobile phones ahead of their peers in performance, photography and intelligent experience.

Liang Zhenpeng, an observer of the consumer electronics industry, said in an interview: "Huawei’s current advantage in regaining global high-end market share lies in its technological innovation, R&D strength and in-depth understanding of the domestic market. However, the main difficulty lies in the acceptance of the global market and the response of competitors. Although Huawei Pura70 series has evolved in AI capabilities and HarmonyOS OS, it is not enough to completely reverse Huawei’s disadvantage in the global high-end market share. "

Zhijie "grabs the bill" Xiaomi SU7, which can deduct 5,000 yuan.

On April 11th, HarmonyOS Ecological Spring Communication Meeting was held, and Huawei and Chery officially announced that Zhijie S7 had achieved mass delivery, which could "deliver one car in one minute". Based on the strong manufacturing capacity, the intellectual community has also set its sights on Xiaomi SU7, whose production capacity is in short supply.

Recently, there is market news that Huawei’s Zhijie S7 is "grabbing" customers of Xiaomi SU7, buying Zhijie S7 and paying the final payment, which can deduct the 5000 yuan deposit of Xiaomi SU7 lock order from the car price.

It is understood that at present, there are three modes of cooperation between Huawei and car companies, namely, spare parts supply mode (providing standardized products such as laser radar and car networking module for car companies and electric control of motors), HI mode (namely HuaweiInside, car companies adopt Huawei’s full-stack solution, including hardware and software) and HarmonyOS Zhixing mode (Huawei is deeply involved in product design, marketing and terminal sales).

Zhijie S7 is the model of Huawei’s HarmonyOS Zhixing cooperation. In 2023, HarmonyOS Zhixing opened to 78 cities nationwide to join the user center, which provided a series of services including sales, delivery and after-sales. According to Ping An Securities Research Report, HarmonyOS Zhixing Store will operate independently, and it is planned to build 800 stores by 2024.

The reporter came to a Wuhan HarmonyOS Zhixing Super Experience Center for consultation. The relevant staff told the reporter that the policy of deducting the deposit of 5,000 yuan from Xiaomi by purchasing Zhijie S7 does exist. At present, it is only for Zhijie S7, and other HarmonyOS Zhixing models do not enjoy this discount. To enjoy the relevant discount, you need to show the lock voucher of Xiaomi SU7, and the activity will last until the end of May. Compared with Xiaomi SU7, the delivery speed of Zhijie S7 is relatively fast. The above-mentioned staff told the reporter that the current delivery cycle of Zhijie S7 is 2 weeks to 4 weeks. Now you can pick up the car in May, and some configurations need 4 to 6 weeks to pick up the car.

According to the Pacific Securities Research Report, Zhijie S7 is the first car in Huawei’s smart car selection business, which will further fill the layout of Huawei’s cars. With the large-scale delivery and further cooperation between Huawei and the OEM, Huawei’s auto business is expected to continue to achieve profitability after turning losses, and Huawei Smart Drive is expected to shape a new round of industry prosperity.

Behind the "battle for orders" between Zhijie S7 and Xiaomi SU7, the sales of Xiaomi SU7 far exceeded expectations, and the production capacity was "in short supply". At the beginning of April, a car buyer with a lock list of Xiaomi SU7 told reporters that the estimated delivery time of the Xiaomi SU7Max version of the lock list is 26-29 weeks later, and it will take almost the end of the year to pick up the car.

In response to this "battle", Lei Jun, founder and chairman of Xiaomi Group, also responded. On April 22nd, Lei Jun said at the Weibo: "At present, the production capacity and delivery speed of Xiaomi SU7 are increasing rapidly, and the standard version and Max have been delivered in advance. Many prospective car owners found in Xiaomi Auto APP that the delivery time is expected to be advanced. At Beijing Auto Show, I will introduce our production capacity and delivery plan in detail. If you are really anxious to buy a car, domestic new energy vehicles are good, for example, Zhijie S7, Weilai ET5, Tucki P7 series, etc., you can also consider buying. "

The official of Zhijie responded by saying: "Thank you, Mr. Lei, for recommending Zhijie S7! Super-large space, Huawei intelligent driving and HarmonyOS cockpit have now started scale delivery, and consumers are welcome to experience in the store! "

Huawei takes the lead! The overcharge alliance is about to start.

On April 24th, Huawei will hold two conferences: Huawei Smart Car Solutions will hold the "2024 Huawei Smart Car Solutions Conference" and Huawei Digital New Energy will hold the "2024 Huawei Smart Electric & Smart Charging Network Strategy and New Product Launch Conference".

Among them, official website, Huawei’s smart car solution, was officially launched yesterday. According to the agenda of the meeting, "2024 Huawei Smart Car Solution Conference" includes new product launch conference, smart car lighting, smart car control, computing platform, smart driving, smart cockpit and smart Che Yun theme forum.

Weibo, the official of Huawei’s smart car solutions, said that at the press conference, Huawei will launch a new brand, and invited many car companies, such as Extreme Fox, Changan Automobile, Aouita, Deep Blue Automobile, Blueprint Automobile, Warrior Technology and Guangzhou Automobile Chuanqi.

At the "2024 Huawei Intelligent Electric & Intelligent Charging Network Strategy and New Product Launch Conference", a new intelligent fusion solution in power domain will be launched for pure electric and extended range hybrid platforms, and a full range of ultra-fast charging solutions will be released.

It is worth noting that according to the agenda of the meeting, the meeting will also include the release ceremony of the "Overcharged Alliance".

Editor: Ye Shujun

Proofreading: William Wang

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Under the indiscriminate bombing of the internal volume, the exploited social animals can only fight back with techniques such as "fishing to fool students" and "going to the toilet with pay".

Go to the toilet with pay, as soon as you hear it, it won’t take a few minutes for social animals. However, in order to make these minutes of "anti-exploitation" longer and happier, the anonymous login game during working hours has become a happy password for toilet time without being discovered by the leaders.

And this is the wealth password of Happy Landlord:

It is such a game, and its market share on the Android side was as high as 87.2%. On the APP Store revenue list, Happy Landlord, as the only chess game, ranked 15th, with a weekly recharge of 21 million yuan.

Tencent has not published the financial report of Happy Landlord separately, but according to this data, the annual revenue of Happy Landlord can reach 6 billion yuan, not counting other income such as advertising, which is a model of making a fortune.

You know, the Honey Snow Ice City, which has opened more than 5,000 stores, has a revenue of only 6.5 billion yuan in 2019.

Leisure games at the same time as Happy Landlord Fight, such as QQ Farm, QQ Pickhole, QQ Hall, etc., have long since withdrawn from the historical stage.

The Happy Landlord has experienced the change from PC to mobile Internet era, and it still stands today and has become the spiritual opium of several generations.

So, what’s the magic of fighting the landlord happily?

In 2008, junior high school students were busy killing Matt, and changed the name of QQ to bury love Xiaomo, and the Happy Landlord was born, which attracted the attention of parents and netizens. At that time, Happy Landlord Fight was still a small game built in the QQ game hall, which could only be played on the computer.

After the parents became fascinated with the happy landlords, they seemed to open a new world of surfing the Internet, and began to further occupy the computers at home, and in the name of studying hard and playing less with computers, they rushed their children to the room to read books.

Since then, the control of the computer has been transferred, and the children are miserable and secretly lamented: "All this is the fault of the happy landlord!"

The exclusive currency of Happy Landlord is called joy beans, which is equivalent to the chips on the poker table. When the account number is less than 1,000 beans, the system will send you a "minimum living allowance" four times a day, with 1,000 yuan each time, so that you can continue to gallop in the poker field. If you lose all four times and want to continue playing, you can only choose to recharge or change the number.

At that time, there was no need for real name and mobile phone verification code to register QQ. Many people registered several QQ numbers for fun, and one of them was lost for another. This brought many new users to Happy Landlord and even QQ at that time.

In 2008, the number of Internet users in China was less than 300 million. At that time, all software wanted users to spend as much time on it as possible. Therefore, the setting of Happy Landlord is very risky. Only when you have beans can you continue to play, which is invisibly adding a threshold to the product. Whether it can be done or not, Tencent has no bottom in mind.

So QQ Game Hall sent another brother product, horse racing, named QQ Fight Landlord. There is no "joy" and no joy beans, so you can play indefinitely. Winning or losing is only counted as points, and points correspond to a title system. From bonded laborers to big landlords, the classes are distinct and full of challenges.

These two landlords are basically the same except for the monetary rules. From a purely rational point of view, playing QQ to fight landlords is obviously more cost-effective, because it is not restricted by joy beans. As long as users want to play, they can fight until dawn, and there is no need to recharge at all.

However, from the actual situation, the Happy Landlord is much more popular than its fellow brothers, which is reflected in revenue and monthly activities. It doesn’t make sense from the rational level, and the answer lies in human nature.

Joy beans landlords won or lost thousands or even tens of thousands in a game, so they had to leave after the Happy Tofu. Compared with the integral system, which is dull as water and never ends, Happy landlords can bring people a sense of gain, rather than simply killing time.

In this way, Happy Landlord eliminated his fellow brothers, lived tenaciously in the era of mobile Internet, and became independent from the QQ game hall. With a new carrier, there will be richer use scenarios, such as when taking a paid shit, when lying on the sofa doing nothing, and being too lazy to find a variety show.

Up to now, stand-alone mobile games are a world of fun and enjoyment, and online mobile games must have a place for happy landlords.

All loyal users of Happy Landlord will inevitably send out a soul question: Who is Happy Horse?

Many people find that the Happy Horse Club will appear randomly in the game. The same name and the same avatar can always be met several times a day. Sometimes it is your teammate who fights side by side, and sometimes it is the landlord who plays against the sky.

Such frequent encounters inevitably make people wonder: "Is Happy Horse fond of playing cards, or is it because we are so predestined? Or is Happy Horse a robot at all? "

With such questions, people tried to find the answer in the post bar, and as a result, they met a group of card friends who were equally puzzled. Everyone had an indissoluble bond with Happy Horse.

Happy horse, English is happy pony, Happy Ma Huateng, perhaps this is a little bad taste of Ma Huateng. Change the name and avatar of the robot account to this, "A man who looks as sad as Bojack, a horse man", which is in contrast with the nickname, as an egg in the game.

Some netizens have found evidence that whenever they earn a lot of joy beans, Happy Horse will appear, beating you with a hand of "just a little bigger than you", just like a joy beans harvester.

But some people said that the happy horse he met was not like a robot. A netizen once added a friend of a happy horse to the game, and the happy horse often sent him beans.

And although the avatar and the screen name are the same, the location of each happy horse is usually far apart, and there is even a seemingly real record. Some happy horses rest during working hours and only play cards at night and on Saturday and Sunday.

Some netizens pointed out that Happy Landlord allows anonymous login, and the system will randomly assign you a nickname and avatar, including Happy Horse, Nerve Frog, momo, Abai, etc. This can explain why the IP of Happy Horse is spread all over the country.

That is to say, Happy Horse, which appears on your friends list, probably chose to log in anonymously because he didn’t want the boss to find out that he often fights landlords.

Some users couldn’t figure out who the happy horse was, and decided to become a happy horse themselves. They changed their names in the game and changed their heads to the sad horse as a little seasoning in ordinary life.

These artificial happy horses sometimes meet at cards. They often smile and pour each other a cup of tea.

Therefore, it can be roughly concluded that the happy horse in the game now consists of robots, anonymous people and a group of boring people.

Think of someone who insists on doing nonsense in such a chess game with little technical content, just to confuse other players. Is it quite punk?

Open the client of Happy Landlord, and you will be surprised to find that all these friends who usually lie dead in their circle of friends are dancing in Happy Landlord.

The minimum top-up amount of Happy Landlord is 3 yuan RMB, and you can get 3.6W joy beans, which is enough to enter and leave several high-level venues that you are not qualified to go to at ordinary times. Some people regard this as a way to decompress: "If you are tired of work, you will charge three yuan, double your madness in the advanced field, and continue to move bricks after losing."

Even if you don’t want to spend a penny, fighting the landlord can make you experience a moment of happiness. This is a game full of "novice aura". In the first few games every day, you will be given a few good cards against the sky. The two kings and three will bring a bomb, and the opponent will lose everything in one game.

After experiencing the pleasure of winning money, the Happy Landlord Fight will make you lose several games in a row. Every time you touch a card, you will either break 7 or get the biggest A. At this stage, you will feel unlucky and even want to quit the game and do something else.

But like love rat, Joyful Landlord will never let you succeed. It will match two bean delivery robots for you when you are discouraged and about to lose everything. Their mission is to lose to you. Therefore, it is touching to split a pair of threes into two threes.

The beauty of online licensing, the nearest time to us, just rolled past the subtitles. It is the normal life of ordinary people to throw bombs and planes in game after game of happy landlord fighting.

Joyful landlords provide people with a cyber chess room with the lowest cost.

Users know that most of the cards are set by the system, and they know that they will never enter the highest level by receiving the minimum living allowance. They also know that Happy Landlord Fight is a scam that has been carefully designed to let users lose all the beans quickly.

But people still enjoy it, and they are willing to charge a few dollars occasionally in exchange for a moment at the poker table.

A netizen sent a message to Weibo, saying, "If you spend 3 yuan to buy 30,000 beans at Happy Landlord, you can have a happy and full day."

For social animals who have been working clumsily for a day, it is easier to have fun fighting landlords than the glory of the king, who is easy to get angry when he tests his operation level.

It takes almost no brains, and occasionally it can experience the excitement of winning money. It can’t meet the cool primary school students with good skills and equipment, and it won’t happen without voice function. When the tension is tense, it is just throwing water at each other’s QQ show. It’s really a very gentle game, so it’s not hard to explain why so many people are attracted to a fool’s game.

Happy Landlord has been online for 12 years today. Some people say that because of the rapid iteration, the life span of Internet products should be calculated according to "dogs". A dog’s year is equivalent to seven years of human beings, so Happy Landlord is 84 years old this year, but the heat is still unabated.

Probably because adults need a cheap and legal "cyber chess room" so that they can find an easy-to-indulge exit and have a beautiful dream outside of their tired life.

Even in dreams, people often urge.

References:

Happy Landlord Product Analysis Report

http://www.woshipm.com/evaluating/1033713.html

Why can Happy Landlord always be active among young users?

Watching landlord fights is more addictive than landlord fights.

Original title: "Joyful landlords, making a fortune in silence"

Read the original text

　　Xinhua News Agency, Hong Kong, June 29th: Work together to create the future — — Hong Kong celebrates the 25th anniversary of its return to the motherland.

　　Xinhua news agency reporter

　　Street view taken on the streets of Hong Kong on June 28th to celebrate the 25th anniversary of Hong Kong’s return to the motherland. Xinhua News Agency reporter Li Gangshe

　　National flags and regional flags are flying in the streets and lanes, red lanterns are hung on the footbridges in central ferry piers, fishing boats are cruising around the Victoria Harbour, and residents in the New Territories set up traditional large-scale flower cards, and the song "My motherland and I cannot be separated for a moment" is rippling in Victoria Park … … On the occasion of the 25th anniversary of China’s return to the motherland, Hong Kong is filled with festive atmosphere.

　　A good show to welcome the celebration.

　　On the morning of the 28th, Hong Kong was clear with blue sky and white clouds. Hong Kong fishermen celebrated the 25th anniversary of their return to the motherland, and the sailing ceremony of fishing boat cruise in Victoria Harbour was held at Tsim Sha Tsui Pier.

　　Despite the hot weather, the event attracted many citizens to participate. Mr. Guo, who lives in Tai Po, and his family came to the dock early in the morning and excitedly took a selfie at the fishing boat. "This year’s fishing boats are particularly festive!"

　　After the cruise began, the fleet of 25 fishing boats was divided into five phalanxes and set out from Tsim Sha Tsui. At the bow and stern of each fishing boat, the five-star red flag and the bauhinia regional flag are flying.

　　Yang Shangjin, the chairman of the Hong Kong Fishermen’s Mutual Aid Society and the post-80s generation, is an out-and-out fisherman’s child. At the launching ceremony, he sang the national anthem with the audience. He said: "The motherland is ours ‘ Home ’ . Thanks to the country’s concern and support for fishermen, let our lives live better. "

　　"The five-star red flag flutters in the wind, and the victory song is so loud … …” At the landmark locations such as Golden Bauhinia Square, Tsim Sha Tsui Cultural Center and Kai Tak Cruise Terminal, the 25th anniversary of the return of thousands of young people, jointly sponsored by 21 provincial associations in Hong Kong, was staged. The young people who participated in the activities dressed in uniform sang "Singing the Motherland" together, and expressed their patriotism and love for Hong Kong with loud singing and youthful attitude.

　　"In ‘ Flash ’ During the singing, I felt the love of the vast number of young people in Hong Kong for the motherland and the spirit of sincere unity and positive progress. " Hong Dingteng, director of the Youth Committee of the Federation of Fujian Associations in Hong Kong, said that we will continue to sing about a better life and work together to create a new future and a new chapter.

　　A large-scale theme exhibition hosted by Bauhinia Culture Group to celebrate the 25th anniversary of Hong Kong’s return to the motherland attracted more than 25,000 visitors in six days.

　　The film One Sky, which was made to celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, was released recently. Zhuangcheng, the film producer, said: "Hong Kong is developing in a better direction. I hope this film can inspire Hong Kong compatriots’ feelings of home and country and work hard to create a better tomorrow."

　　The five-star red flag and bauhinia regional flag hung in Lidong Street, Hong Kong, shot on June 28th. Xinhua News Agency reporter Li Gangshe

　　The whole city is "China Red"

　　"Dreamers set off from the starting line and crossed the line at the foot of the Lion Mountain. May this Hong Kong be created together." On the big screen of Times Square in Causeway Bay, the theme song "Before" was played to celebrate the 25th anniversary of Hong Kong’s return to the motherland. A circular red festival poster was posted on the glass curtain wall of the building, and Mr. Lin took out his mobile phone to take photos as a souvenir.

　　Mr. Lin came to Causeway Bay on a tram with the slogan of warmly celebrating the 25th anniversary of Hong Kong’s return to the motherland printed on its body from the West Ring Road. On the streets of Hong Kong, many buses and trams have changed into red "new clothes". "Trams are issued from time to time ‘ Ding Ding ’ The sound, when slowly passing through the streets of Wan Chai, complements the holiday decoration of the tram station. " He said.

　　On Lidong Street on Hong Kong Island, on the streets of Tsim Sha Tsui East and Baili Avenue in Kowloon, five-star red flags and bauhinia regional flags are hung all over the streets, which are particularly bright against the blue sky and white clouds. People passing by can see a piece of "China Red" when they look up. Many Hong Kong citizens took photos and videos and posted them online, which was well received by netizens: "The scene is too shocking" and "inspiring" … …

　　Hong Kong in the night is festive and peaceful. The World Trade Plaza, the tallest building in Hong Kong in West Kowloon, is located in Sun Hung Kai Center and Central Plaza on Hong Kong Island. Rows of skyscrapers perform light shows, making the brightly lit Victoria Harbour more colorful and displaying the unique charm of the "Pearl of the Orient".

　　From July 1st, the special edition of the large-scale multimedia show "symphony of lights" will be officially launched. Specially designed and produced for the 25th anniversary of Hong Kong’s return to the motherland, the lighting show not only adds more buildings to the lighting show, but also adds various elements, bringing refreshing audio-visual enjoyment to the public.

　　Cheng Dingyi, Director-General of the Hong Kong Tourism Board, said that the new elements include setting up multiple lighting effects at various locations on both sides of the Victoria Harbour, setting up unique light and shadow on the outer wall of the SAR Government Headquarters and the rooftop of the Legislative Council Building, and putting on new clothes for many Star Ferries to blink at night.

　　The five-star red flag and bauhinia regional flag shot on the streets of Hong Kong on June 29th. Xinhua News Agency reporter Binghui Lu photo

　　People from all walks of life celebrated together

　　Citizens and social organizations celebrated the 25th anniversary of Hong Kong’s return to the motherland in various ways.

　　"Bless Hong Kong, Bauhinia is blooming beautifully, and the road is just ahead … …” Zhu Wunina, a Hong Kong songwriter, co-wrote this song "Blessing Hong Kong" with friends. "Only when there is a country can there be a home, and when the country is good, Hong Kong can be good." She said that she hopes to express her deep love for the motherland and Hong Kong with songs.

　　"Compared with previous years, I felt more responsibility when I participated in the celebration this year." Zhu Dingwen, the flag bearer of the China-Hong Kong delegation to the Beijing Winter Olympics and a short-track speed skater, said that this year he came to the celebration as an athlete who participated in the Beijing Winter Olympics, and his feelings were very different. "I hope that these activities can bring positive energy to more young people in Hong Kong."

　　"We take ‘ Poster+lighting+flag array ’ Way, let ‘ Tsuen Wan City takes China Red ’ 。” Hua Meiling, Secretary-General of the Organizing Committee for Celebrating the 25th Anniversary of Hong Kong’s Return to the Motherland in Tsuen Wan, told reporters that there are 18 celebration activities in Tsuen Wan, including festival theme decorations, cultural performances, and Putonghua recitation.

　　A gala celebrating the 25th anniversary of Hong Kong’s return to the motherland will be held in Hung Hom Gymnasium on July 1st, and many famous artists from Hong Kong, such as Andy Lau, Alan Tam and Nicholas Tse, will give wonderful performances to the audience.

　　"On the 26th, I went to Hung Hom Gymnasium for the first time for live rehearsal. The venue is magnificent, the stage is beautiful, and the visual effect of the overall performance is shocking. " Mo Hualun, a Hong Kong tenor, said that he was full of expectations for the performance of the gala, and firmly believed that with the support of the central authorities, the new SAR government would lead Hong Kong to "open a new chapter" and usher in a new stage of development. (Written by reporters: Liu Huan, Cha Wenye, Lu Min, Lin Ning, Wei Hua, Huang Yitian, Su Wanming, Li Baitao)

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?

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() 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.