Shi Zifu, Harbor Business Watch

　　In the sub-field of matching in the same city, flash delivery is usually regarded as a leading participant in the industry. However, this market is highly competitive, and only the well-known SF City, JD.COM Hours and Dada Seconds are not small rivals.

　　On October 4th, Flash (FLX.US) was successfully listed on NASDAQ, with an issue price of US$ 16.5 /ADS and a total fundraising of US$ 66 million. As of 9: 38 EDT on October 8th, the stock price of Flash dropped to about US$ 15. According to Tianyancha, the domestic operation entity of Flash is Beijing Tongcheng Bing Technology Co., Ltd..

　　01

　　Achieve profitability in 2023.

　　Official website introduced that Flash Delivery is a one-to-one express delivery platform in the same city’s instant delivery industry, providing personal and corporate customers with special express delivery services on demand. The brand of Flash Delivery is FlashEx or Flash Delivery, which means instant delivery.

　　According to the data of iResearch, in terms of revenue in 2023, Flash is the largest independent on-demand express service provider in China. In 2023, the market share of Flash in China’s independent on-demand express service is about 33.9%.

　　Different from the delivery service provider that adopts the order consolidation mode, Flash initiated and always focused on the special delivery mode of on-demand delivery. For each order, Flash will assign a special Flash-Rider to pick up the order and deliver it to the recipient without merging multiple orders or changing hands on the route.

　　As of June 30, 2024, Flash has about 2.7 million registered riders, and its service coverage has been extended to 295 cities in China.

　　From 2021-2023 and January-June 2024 (hereinafter referred to as the reporting period), Flash Delivery fulfilled 158.6 million, 213.4 million, 270.7 million and 138.1 million orders respectively; In the current period, the company realized revenue of RMB 3,039.8 million, RMB 4,002.7 million, RMB 4,528.8 million and RMB 2,284.5 million respectively, and realized gross profit of RMB 189 million, RMB 259 million, RMB 395 million and RMB 257 million respectively, with gross profit margins of 6.2%, RMB 6.5%, RMB 8.7% and RMB 11.3 respectively.

　　It is not difficult to understand the reason for the increase in revenue, which is related to the increase in the company’s orders in the current period. In terms of net profit, flash delivery generated a net loss of 291 million yuan and 180.4 million yuan in 2021 and 2022 respectively, and realized a net profit of 110 million yuan (US$ 15.205 million) and 124 million yuan (1702.0) in 2023 and January-June 2024 respectively.

　　For the realization of profit in 2023, the flash payment is attributed to the increase of other income caused by the increase of government subsidies. In 2023, other income from flash delivery was 74.3 million yuan (US$ 10.2 million), compared with 9.2 million yuan in the same period in 2022.

　　In the revenue composition of Flash-Riders, the salary and incentive paid to Flash-Riders are the biggest components of the company’s revenue cost. During the reporting period, it was 2.751 billion yuan, 3.614 billion yuan, 3.975 billion yuan and 1.951 billion yuan respectively, accounting for 90.5%, 90.3%, 87.8% and 85.4% of the total income of the current period respectively.

　　In addition, the attention of the outside world is high. During the reporting period, the average income of a single order delivered by flash was 19.2 yuan, 18.8 yuan, 16.7 yuan and 16.5 yuan respectively, showing an obvious downward trend. Although the order volume is rising, the continuous decline of single income is still likely to affect the overall operating performance of the company.

　　02

　　Downgrading various fees, more than 8,000 complaints.

　　The operating expenses of flash delivery include sales and marketing expenses, general and management expenses and research and development expenses. In the total cost, sales and marketing expenses account for the vast majority.

　　According to the prospectus, the sales and marketing expenses of flash delivery mainly include: advertising and marketing expenses, staff costs related to sales and marketing functions, rent and depreciation, and advertising expenses mainly include endorsement fees and advertising fees. During the reporting period, the sales and marketing expenses of flash delivery were 272 million yuan, 240 million yuan, 188 million yuan and 89.738 million yuan respectively, accounting for 8.9%, 6.0%, 4.2% and 3.9% of the corresponding income respectively.

　　General and administrative expenses of flash delivery mainly include: salaries and related costs of employees engaged in general company functions, professional fees and other general company expenses, as well as expenses related to the use of facilities and equipment. During the reporting period, the company’s general and administrative expenses were 113 million yuan, 103 million yuan, 105 million yuan and 45.505 million yuan respectively, accounting for 3.7%, 2.6%, 2.3% and 2.0% of the corresponding income respectively.

　　In addition, R&D expenses mainly include: staff costs, rent and depreciation related to R&D functions, and other expenses related to R&D functions. During the reporting period, the R&D expenses of Flash were 105 million yuan, 119 million yuan, 90.847 million yuan and 41.306 million yuan, respectively, accounting for 3.4%, 3.0%, 2.0% and 1.8% of the revenue in the corresponding period.

　　In the first half of 2024, Flash reduced the sales and marketing expenses, general and administrative expenses, and research and development expenses, by 8.56%, 13.17% and 18.6% respectively compared with the previous year. Some market participants told Harbor Business Watch that it is not ruled out that this year is facing fierce market competition and the consumption environment is weak. In order to improve profitability and IPO, Flash delivery has carried out all-round cost control.

　　Flash accounts payable mainly refer to the remuneration payable to Flash-Riders. By the end of 2022, 2023 and the end of the first half of 2024, the accounts payable for flash were 356.1 million yuan, 339.8 million yuan and 314.6 million yuan respectively. In the same period, the company’s cash and cash equivalents were 622 million yuan, 699 million yuan and 712 million yuan respectively.

　　In 2021 and 2022, the net cash used in flash business activities was 194.9 million yuan and 86.8 million yuan respectively, and in 2023, the net cash provided by flash business activities was 45.7 million yuan.

　　In the first half of 2024, the net cash provided by Flash business activities was 20.7 million yuan (US$ 2.8 million). Flash mentioned that the company’s main source of liquidity was equity financing income. In March, April and May, 2021, the company obtained 747.8 million RMB from D2 financing. As of June 30, 2024, Flash had cash and cash equivalents of 711.7 million yuan (US$ 97.9 million).

　　Flash delivery mentioned in the prospectus that the company does not employ any lightning riders, and provides special express service for individual and corporate customers by relying on Flash-Riders. The company usually regards such lightning riders as independent contractors.

　　In this context, there are also many consumer complaints about flash delivery. As of October 8, the keyword "flash delivery" was searched on the black cat complaint platform, with a total of 8,128 complaints, and 5,744 complaints have been completed. In the last 30 days, there were 213 complaints, with an average of 7.1 complaints per day. Consumer complaints focus on time delay, overlord clauses, arbitrary deduction of service fees, unreasonable punishment of riders, and unauthorized cancellation of orders.

　　03

　　Valuation has shrunk dramatically, how to break through the competition in the Red Sea?

　　Tianyancha shows that at the beginning of its establishment in March 2014, Flash received millions of RMB angel round financing from Jingwei Venture Capital; In June of the same year, the company also received millions of dollars in Series A financing from Jingwei Venture Capital and CDH Investment. In July and August, 2015, Flash completed $50 million in Series B financing and Series B+ financing respectively, with investors including Jiuding Investment, Light Source Growth Fund and Tiantu Investment.

　　In February and June of 2017, Flash completed the C and C+ rounds of financing respectively, and the transaction amount of both rounds was USD 50 million. In August, 2017, August, 2018 and March, 2021, Flash completed the D, D+ and D++ rounds of financing respectively, among which the investors in the D+ round of financing included Haisong Capital, Wuyue Capital, Yuanxing Capital, Haina Asia Venture Capital, Shunwei Capital, Changbai Xing Capital, Shunliang Investment, Hearst Capital and Light Source Venture Capital, with a transaction amount of 60 million.

　　The investors in the flash D++ financing include Shunzhi Capital, Wuyue Capital, Haina Asia Venture Capital Fund, Tiantu Investment, Haisong Capital, AlphaSquare Group, Qiyuan Investment Axiom Asia Private Capital, Qian Shan Capital and Zhongcai Capital, and the transaction amount reached 125 million US dollars.

　　However, in the instant delivery market, flash delivery faces a lot of market competition.

　　In the field of traditional logistics and distribution, SF Express’s SF Express delivery, running errands, and helping to buy services, with an average of one hour in the whole city; JD.COM’s instant retail business is aimed at consumers’ JD.COM Hours, and in May 2024, JD.COM Hours and other brands were upgraded to "JD.COM Seconds Delivery"; Dada Group’s Dada seconds to send help, help to send, run errands, 1 hour; Hungry? Hummingbird, its real-time logistics platform, also provides consumers with comprehensive life services such as home catering service, supermarket service, help buy and help deliver.

　　In addition, after the completion of the D++ round of financing in March 2021, the valuation of flash delivery reached 2 billion US dollars (equivalent to about 14 billion yuan). According to the Hurun Global Unicorn List in 2024, the flash valuation is about 7 billion yuan, down about 40% from 2021. Up to now, the flash market value is about $1.078 billion.

　　According to the Research Report on Instant Distribution Industry in China released by iResearch, the scale of the instant distribution industry will be about 341 billion yuan in 2023, and it is estimated that the scale of the industry will exceed 810 billion yuan in 2028.

　　Mo Daiqing, director and senior analyst of the online retail department of the E-commerce Research Center of NetEconomy & Society, pointed out that the competition in the instant delivery market is becoming more and more fierce. For example, Dada Group and SF Express have been successfully listed in the same city, and the rookie also announced to upgrade its express delivery service in the same city and launched the "half-day service". Backed by giants such as JD.COM, SF Express and Ali, they have strong financial support and business resources. In addition, there are some new "showstopper". For example, last year, the cargo Lala announced the online errands business; Didi also launched Didi errands service; Gaode Map announced that it has cooperated with a number of instant delivery companies to provide errands through its platform; Tik Tok, Aauto Quicker, Oriental Selection, etc. are also accelerating the trial of instant retail.

　　Although it has been successfully listed, on the one hand, its profitability is under great pressure, and on the other hand, how to successfully break through in the Red Sea industry has also been tested.

On August 10th, Jiyue Automobile officially announced the official interior map of the brand’s brand-new medium and large pure electric car. It is reported that this car adopts the design concept of "AI Aesthetics", showing the charm of pure China original design.

In the interior, Extreme Yue 07 continues the design of family style, with minimalism as the leading factor. Among them, the design of the half-width steering wheel is eye-catching, and its development cost is as high as 20 million yuan. Officials said that this design not only provides a good grip, but also ensures that it does not block the driver’s line of sight. In addition, the button design in the car is also extremely simple.

The interior adopts embracing design, and the center console is equipped with a whole penetrating suspension screen with a size of 35.6 inches and a resolution of 6K, and colorful atmosphere lights are incorporated to create a sense of technology and advanced. There is also a wireless charging panel at the lower part of the center console to provide convenience for passengers. The new car also features an integrated seat design and a small screen in the center of the rear row.

In appearance, the car body size of Extreme Yue 07 is 4953mm long, 1989mm wide and 1475mm high, with a wheelbase of 3013mm, and it is positioned in medium and large cars. Its short front and rear suspension and long wheelbase design make the body look full and dynamic. There is also an electric spoiler at the tail, which automatically rises when the speed exceeds 95km/h, further enhancing the value of the whole vehicle.

According to the declaration information, the Extreme Yue 07 dual-motor version can output a maximum power of 400 kW, and is equipped with a maximum speed of 200 km/h.. It is expected that the new car will be listed this year, and the price is expected to be in the range of 200,000-300,000 yuan. It is worth mentioning that Extreme Yue 07 will also adopt pure visual high-order intelligent driving technology, which is provided by Baidu.

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"

This summer, costume dramas are broadcast together.

"Splendid Stars" and "Aquilaria Resinatum as Chips" often occupy a half-screen hot search, which can be called a fairy fight.

However, the sudden popularity of "Freesia" has caused a lot of heat.

Dylan, the "Oriental Blue Sky", is gaining millions of people a day, and the studio is recruiting people from morning till night.

Now I am at the airport, surrounded by people, and the treatment is comparable to the top flow.

As the number one female, Esther Yu also won a lot.

The little orchid she plays is a warm and virtuous goddess.

After the role became popular, Esther Yu’s popularity on the road increased.

There are more and more comments on her "simplicity" and "stupidity".

However, Esther Yu, who wears several hats, can rise against the current situation that the film and television winter and The9 concert have been postponed again and again, and ascend to the throne of the heroine of the explosive drama.

It’s not just about"silly white sweet"So simple.

Esther Yu’s controversy has never stopped.

The two labels that have been stuck on her for the longest time and the most firmly are "a rich girl" and "a refined woman".

She didn’t shy away from being a rich girl.

When she first debuted, she made a high-profile big-name bag full of beds, and together she could buy a suite.

Before taking part in "Young You 2", she had a group of "Hepburn Wind" blockbusters.

In my hand, it is a crystal chain bag of Chanel collector series.

The value of this bag220 thousandAnd it is a global limited edition, and you can’t buy it if you have money.

Carrying it on your back is about the same as putting it"I have money and strength."Write it on your face

At the same time, big-name items often appear in Esther Yu’s photos.

Many stars dare not wear a high-definition princess dress on the red carpet. She dances in it.

Other stars bring their own makeup artists when filming, and she brings her own.109 sets of private servers.

I also matched it myself and made a set of pictures.

It saved a lot of money for the crew and was evaluated as "bringing money into the group" in disguise.

Matching the "rich girl" is Esther Yu’s."Zuo".

In "Grade One", she worried about Chen Jianbin and Loura.

Sometimes pretending to be sick.

Sometimes be childish.

Sometimes you disobey the rules.

At that time, Esther Yu’s performance made many people shout "I can’t stand it".

The same is true of "Youth 2".

In the first program, Esther Yu made his appearance into a play.

Others come in honestly and sit down.

She leaned out a head at the door and showed a surprised expression.

Then slowly close the door, walk out with small steps, and say "very nervous" in a voice.

The tutor present was shocked to be speechless, and KUN directly asked her:

Did you act in a sitcom?

In "Young You 2", Esther Yu’s "Wow" famous scene is out of the circle.

Let her be selected by the traffic and become the fastest "Green You 2" player on the hot search.

The rich girl and the expert "person" are just seemingly "fit together" in Esther Yu.

In many people’s presupposition, Esther Yu is a rich second generation princess.

She brings her own resources and is not bullied.

As long as you sell cute and coquetry, you can get opportunities that others can’t dream of.

But the fact is that Esther Yu is an "atypical rich girl" who can only have a princess’s life, but not a princess’s disease.

Parents are very strict with Esther Yu.

When studying in Singapore, other students rented the most ordinary house for 5,000 yuan, while Esther Yu was only allowed to live in a dormitory for 2,000 yuan.

Roommates come from different countries and have completely different living habits.

She is in the dormitory, picking up her hair and cleaning the toilet. No one treats her like a little princess.

After returning to China, Esther Yu wanted to enter the entertainment industry and asked her parents for help, but they refused to give her any help.

Even the free tickets for "Youth 2" were given to Qinyuan Fei by Esther Yu’s mother.

Esther Yu can only proudly say: I am short of my mother’s two votes?

Parents’ education helped Esther Yu develop a hard-working and tenacious character.

According to the words of Loura:Esther Yu is the kind of person who looks like he doesn’t work hard and laughs, but he has already prepared himself carefully.

She is very serious.

Because she felt that the price difference between holidays and peacetime in the hotel was unreasonable, she insisted on asking the hotel for 9000 yuan back.

There was no hot water for bathing in Mesu Island, and there was no chicken in the chicken fried noodles. She wrote a 1000-word complaint email, and as a result, she was exempted from the room charge.

She is also optimistic.

When she first started filming, Esther Yu thought she could play the No.2 girl, but she only got the role of No.18 maid.

But she was so happy that she thought it was a good opportunity and carefully prepared for a long time.

Later, Esther Yu also continued to play some "no such person" background board roles.

But she always hinted to herself in front of the camera that "I am the number one woman."

In the stage play Legend of the Sword and the Chivalrous Man, Esther Yu plays the servant girl Yinhua, who is too small to see her face on the poster.

But she didn’t slack off at all, even if the spotlight shone on others, she tried her best to play her role.

Later, more than one audience who saw the play said:Yinhua is the most brilliant role in this stage play.

Esther Yu before so understand their "work":

As for me, I am myself, capable of ups and downs and happy. We hit a wall here, so let’s show it somewhere else.

Since she was a "social cow", she has mixed the entertainment circle into "Du Lala’s promotion".

When there was no filming, Esther Yu searched for information everywhere, and added the director’s WeChat to introduce himself.

She seized every opportunity to promote herself, and if the audition failed, she would continue to pull the director to watch her own xiaokaxiu.

I will also write an 8000-word biography for a character who doesn’t have many shots, begging the director to read it.

She knew in her heart that the director would only feel that there was something wrong with such a "spell" little actor.

But she is confident and full of expectations for every opportunity, big and small.

I told my parents countless times that I was going to be angry, and I was disappointed countless times.

Fortunately, her heart is stronger.

She said: I seem to be a person with a poor memory. I will soon forget the past and fall into a new round of expectations.

Brainwash yourself every day, Esther Yu. You must be able to stand the wait and get through the time.

After becoming popular, Esther Yu still "publicizes himself with his life".

Journalists who interviewed Esther Yu rated her as "automatic interview".

Before the reporter asked questions, she began to ask herself and answer questions, and talked about her feelings endlessly.

Take pictures on the red carpet, and then the other female stars will leave.

Esther Yu had to beg reporters to "take a good shot" before taking pictures.

She said: "Today is the first time I have worn clothes that show off my arms this year. Dear journalists, if you have any breasts, please help me fix them."

This time, Esther Yu filmed "Freesia Tactics", which was also the opportunity for her to play the original sound.

At first, the crew was dissatisfied with Esther Yu’s voice and disagreed with her using the original sound.

Esther Yu wanted to fight for another hand, stopped working for a month and a half, and found a teacher to learn dubbing.

During this period, other actors joined the group to film in succession, and only Esther Yu was never heard from, and was called "not enterprising".

It was not until the new play was broadcast that everyone knew the real situation.

Esther Yu’s personality is indeed similar to that of the little orchid in Freesia.

First, she is smart, thoughtful and bold.

If you want to act, you have to overcome difficulties and act.

If you want to join the women’s group, you will learn to dance in the crew overnight, regardless of opposition to be a player in "Youth 2".

She can make these decisions not only because she is confident enough, but also because she is smart enough.

She knows what she is suitable for and when to make a decisive attack and change the track.

Therefore, she can always take the right step at the right time.

Second, she has a strong heart and dares to fight and rush.

Although Esther Yu is a rich second generation and a little princess, she is not melodramatic.

There’s no chance to shoot, so you can have the cheek and lower your posture to fight for opportunities.

At the critical moment, I can always bite my teeth and force myself.

Therefore, she has developed a character of "confident but not conceited, brave and not reckless".

This kind of personality, in any field, even if it is not good, it will not be too bad.

Third, she cherishes feathers.

After becoming famous from "Young You 2", Esther Yu has more resources.

But instead of being led by the traffic, she took pictures carefully and slowly.

The support of the work is the biggest reason for her to keep the flow.

From Variations on Moonlight to Freesia, Esther Yu has been quietly absorbing nutrients behind his works.

No matter how "innocent and lovely" Esther Yu’s personality is, we have to admit that she is not really "silly and sweet".

In other words, people who can reach this position in the entertainment circle will not be "stupid and sweet".

Because it is luck to be selected by the flow, but it is ability to stay in the flow pool without being screened out.

The possibility of Esther Yu being "screened out" is getting smaller and smaller.

She is irreplaceable to a certain extent.

People magazine commented on Esther Yu before, saying that she is like aFresh, newborn and naked little monsters have plunged into the pool of entertainment circles.

She is a very special existence.

There are many princesses in the entertainment circle. When they suffer, they will cry and make people love.

There are also many "vicious people" in the entertainment circle, and their personalities are straightforward, and their speeches are surprising.

But Esther Yu is different.

Esther Yu is a princess, yes, but she doesn’t live in a fairy tale.

She is more like a princess who can defeat her stepmother, avoid giants and subdue little monsters by herself.

You don’t need a prince to save you, and a small universe will naturally break out at the critical moment.

Her body not only retains the undisguised, open and generous femininity, but also is "malicious" and smart enough, and she is not afraid of hitting the wall again and again.

I saw a screenshot of the comment area on Weibo, which made me feel "this is Esther Yu".

It was in 2016, and she just debuted, because her performance in "Grade One" was criticized by the whole network.

But she just found a positive comment from a lot of comments that scolded her, and then said:Thank you.

Since Esther Yu’s debut, the controversy that has stayed on her is nothing more than "whether she is lovable" and "whether her personality is true".

But maybe, Esther Yu didn’t pay much attention to these comments.

She doesn’t want to deliberately "please" others.

Usually, she will stand up and express herself freely and tell everyone."Look, how good I am.".

But behind this expression, there is another meaning:

You think I’m bad, but it doesn’t matter.

As long as I feel good, that’s enough.

Thank you for reading it. Let’s light it up. Forward > and < Like > I wish we can all enjoy ourselves without deliberately pleasing others.

Editor in charge:

It is no exaggeration to say that space and comfort are important indicators for consumers to choose a car at present, because most people’s demands are to take a family trip. It’s a medium-sized suv. I wonder how much you know about it. The strength of the car still needs to be understood before we know, so let’s take a look.

Let’s take a look at the appearance of the VGV U75 PLUS. The front face of the VGV U75 PLUS is more atmospheric and looks more stable. Coupled with the fashionable and dynamic headlights, the exquisiteness of the whole vehicle has been greatly improved. The car is equipped with LED daytime running lights, automatic opening and closing, delayed closing and so on. Coming to the side of the car body, the size of the car body is 4825MM*1870MM*1691MM. The car adopts steady lines, and the car body feels very simple. With large-sized thick-walled tires, the shape is eye-catching. Looking back, the rear of the car looks more rounded, and the taillights give people a very concise feeling. Together with the unique exhaust pipe, it creates a good atmosphere.

Sitting in the car, the interior modeling took a simple route, and the whole looked very solid. The steering wheel design of the car is very sharp, made of leather, and feels good. From the central control point of view, the car is equipped with a delicate touch-sensitive LCD central control screen, which makes the interior style impressive and very consistent with the temperament of the car. Let’s take a look at the dashboard and seats again. The dashboard design is remarkable and eye-catching. The car adopts imitation leather seats, and the seats are wrapped in place, which further improves the comfort of drivers and passengers.

VGV U75 PLUS is matched with automatic (AT) gearbox, with maximum power of 165KW and maximum torque of 385N.m, and its power performance is good.

VGV U75 PLUS trunk space is quite satisfactory, but it supports the rear seats to be laid down, which greatly improves the expansion of the space and meets the daily travel needs. In addition, the car is equipped with anti-lock braking system (ABS), LED daytime running lights, brake assist (EBA/BAS, etc.), braking force distribution (EBD), traction control (ASR/TCS, etc.), main driver airbag and co-pilot airbag.

The car introduced today is remarkable in terms of space, configuration and power, and home travel is also a good helper. If you are concerned, you might as well experience it.

CCTV News:The State Administration of Market Supervision recently released the results of supervision and spot check of automobile windshield cleaning liquid. The reporter learned that the sampling samples mainly came from the circulation field, involving 126 batches of automotive windshield cleaning liquid products produced by 113 enterprises in 17 provinces and cities. The test found that there were more than 20% unqualified products in the glass water for vehicles on the market.

　　Business news on November 12

　　On November 12, the price of soda ash in Central China remained stable, and the mainstream market price of light soda ash was about 1370-1600 yuan/ton. On October 25, the price was raised by 20 yuan/ton. The mainstream market price of heavy soda ash is about 1,500-1,600 yuan/ton, and the price is lowered by 50 yuan/ton on October 21st. The utilization rate of soda ash production capacity is high, the market supply is sufficient, enterprises actively ship, the downstream demand is poor, the purchase of soda ash is limited, and the soda ash market in Central China is mainly on the sidelines in the short term.

Recently, all kinds of information about Chery are quite active. One week, iCAR brand night and Star Road Star Age Night were held continuously. In addition, Yin Tongyue personally stood on the platform, gave a live test run, and so on. We can find one thing in common, that is, these activities are all related to new energy.

Intensive new car release/listing also directly shows that Chery really wants to be rude to new energy. On the just-held night of Chery Fengyun, the science and engineering man was still obsessed with the brand of technology. Li Xueyong said: Chery’s 16000T super die-casting island will be adopted at the end of the year.

It is better than the 9100T large die casting machine announced by Xiaomi not long ago. Of course, apart from technology, everyone is more interested in new cars. The T9, the first SUV of Chery Fengyun, has been pre-sold, and the price range is 159,900-199,900 yuan. Let’s see what are the highlights of the new car.

In terms of appearance, friends who know Chery may be familiar with it. The overall outline of the new car is basically the same, but new energy elements are added to the details, such as: the front face is changed to a closed design, and the interior is decorated with vertical bars, which seems to have some musical rhythm effects; LOGO adopts a luminous design; The shape of the taillight group should also be more scientific and sporty.

What is more interesting is the vehicle positioning. Fengyun T9 has a length, width and height of 4795*1930*1738mm and a wheelbase of 2770mm, which basically meets the standard of medium-sized SUV, but its internal positioning is compact SUV. For reference, the Song DM-i has a length, width and height of 4775*1890*1670mm and a wheelbase of 2765mm, and its large body size may be a big selling point of Fengyun T9 in the future, and the new car also offers 7-seat models to choose from.

The interior part is more pleasantly surprised than the exterior. Fengyun T9 adopts a brand-new central control design, which belongs to the simple style that is popular in new energy vehicles nowadays. It combines the functions of LCD instrument, suspended large screen, electronic lever, wireless charging and so on, and with the color matching of deep top and light bottom, it creates a good fresh style of technology.

In terms of specific configuration, Fengyun T9 has arranged inductive tailgate, remote control, Qualcomm Snapdragon 8155 chip, 540-degree panoramic image, front seat ventilation/heating/massage and queen’s co-driver, and has L2+ intelligent driving assistance capability. Rich configuration is also the strength of domestic brands of head.

The power part is the focus of Fengyun T9. The new car is equipped with Kunpeng Super C-DM plug-in technology, consisting of a 1.5T engine and an electric motor, matched with a 3-speed DHT hybrid special gearbox, with 360 horsepower and a peak torque of 530 Nm. Under CLTC working conditions, it has a pure battery life of 120km, a full battery life of 1400km, and a fuel consumption of 5.2L/100km, with a book value.

Summary: In terms of sales distribution, Chery has the highest overseas sales of its own brand, accounting for nearly 22%, indicating that the sales channels should be broader. We have also analyzed before that at present, Chery’s sales volume is still dominated by traditional fuel. If new energy vehicles can be recognized, there is still a chance to by going up one flight of stairs.

Judging from the current pace of new car launch, Chery’s new energy strategy is full of firepower this year, and four brands, Chery Fengyun, Jietu Shanhai, Xingtu Xingyu and iCAR, are making efforts one after another. For Fengyun T9, larger body size and solid power technology should be the core highlights. In addition, the new car has also been ordered by 9.9 yuan, which can enjoy a crowdfunding activity with a price reduction of 20,000 yuan. After the official listing in the future, the price may be even more surprising.

"Everything has its own harmony for life and its own nourishment for success", and biodiversity is the basis of human survival and development. With the successful holding of the 15th Conference of the Parties to the Convention on Biological Diversity in Kunming and the publication of the White Paper on Biodiversity Conservation in China, the keyword "biodiversity" has attracted more and more attention. Sichuan spans five major geomorphic units, including the Qinghai-Tibet Plateau, Hengduan Mountains, Yunnan-Guizhou Plateau, Qinba Mountain Area and Sichuan Basin, including six climatic gradients, namely subtropical zone, warm temperate zone, cold temperate zone, sub-frigid zone and cold zone. It is rich in biodiversity and has great potential in related fields. On May 25th, Wang Jinghong, member of the party group and deputy director of Sichuan Forestry and Grassland Bureau, Guo Xiangxing, director of wildlife and wetland protection department, and Gu Haijun, stationmaster of provincial wildlife resources investigation and protection station, walked into the live broadcast room of online interview column on the provincial government website, and talked about "biodiversity protection &ensp; Sichuan in action "theme online communication with the majority of netizens.

Biodiversity generally refers to genetic diversity, species diversity and ecosystem diversity, which is closely related to our lives. It not only provides a variety of ecological products for material life, but also makes people feel pleasing to the eye and happy in spirit, such as beautiful mountains and rivers, giant pandas and golden monkeys. According to Wang Jinghong, there are various types of ecosystem diversity in Sichuan. Among them, forests, grasslands and wetlands are the main contributors to the ecological barrier in the upper reaches of the Yangtze River and the Yellow River, and species biodiversity is also extremely rich. There are 303 species of wildlife under national key protection, including giant pandas, Sichuan golden monkeys and snow leopards, and there are 14,470 species of higher plants, accounting for more than one third of the national total. Behind the treasures of mountains and rivers, Sichuan has done a lot of systematic work to protect biodiversity over the years-the implementation of the Yangtze River shelterbelt project, the natural forest protection project and the project of returning farmland to forests, and the promulgation of the Measures for the Management of the Balance of Grass and Livestock in Pastoral Areas in Sichuan Province and the Regulations on the Protection of Wetlands in Sichuan Province, with great efforts and complete guarantee system. By 2021, the forest coverage rate in the province is as high as 40.23%, the comprehensive vegetation coverage rate of natural grassland is 85.8%, and the wetland protection rate is 57%. "It is expected that before June, we will welcome the Wetland Department of National Forestry and Grassland Administration to visit Sichuan to evaluate Seda Nilaba’s internationally important wetlands and Guang ‘an Baiyun Lake, Baiyulalongcuo and Luhuo Xianshui River," Wang Jinghong revealed.

When it comes to species protection in Sichuan, we can’t help but mention the famous business card of giant panda. In addition to the population growth of captive giant pandas that you can see in breeding bases, Sichuan has also achieved remarkable results in the exploration of ex situ release of rescue giant pandas and wild training of artificially bred giant pandas. At present, three release bases and two wild training bases for giant pandas have been built, and by the end of 2018, 13 giant pandas have been amplified and tracked continuously. The Giant Panda National Park, established in 2021, spans Sichuan, Shaanxi and Gansu provinces, which will enhance the connectivity, coordination and integrity of giant panda habitats, help strengthen the biodiversity of giant pandas and their umbrellas and the overall protection of typical ecological fragile areas, and build an important national ecological barrier. "Over the years, we have continued to exert our efforts in the overall protection of wild animals and plants, and made overall plans to promote it. We have successively established 165 nature reserves with rare wild animals, plants and ecosystems as the main protection objects, systematically and completely protecting the typical natural ecosystems in our province and the giant panda, white-lipped deer, Sichuan partridge, black-necked crane, Panzhihua cycad, spinulosa, and talus. Wang Jinghong was delighted to say that with the help of infrared camera monitoring technology, researchers have captured images of many rare wild animals, especially the activities of top predators in the food chain, such as snow leopards, in Xinlong, Wolong, Wang Lang and other places, which has become strong evidence for the integrity of the natural ecosystems in the relevant areas.

"Forests and grasslands play a fundamental and strategic role in national ecological security. Countless predecessors have struggled for the cause of forestry and grass, leaving us with confidence, enthusiasm and passion. We must inherit it and make new contributions. " Wang Jinghong said that the primary focus is on the Giant Panda National Park and the Zoige National Park being created. On the basis of consolidating the existing protection achievements, we should promote the construction of nature reserves system with national parks as the main body, optimize and integrate various nature reserves, and realize the management capacity of nature reserves such as national parks to reach the domestic advanced level. At the same time, it is necessary to further strengthen the protection of key protected wild animals and plants, improve the monitoring and supervision system of flagship species and key species, and strive to broaden public participation channels and expand the influence of biodiversity protection.

In the interactive session, Guo Xiangxing and Gu Haijun respectively answered questions about the laws and regulations on wildlife resources protection, popular science and the arrangement of experience activities that netizens are generally concerned about. (Reporter &ensp; Liu Chang)

In today’s era of electrification, how should consumers choose a "good car"? Honda, as one of the most influential automobile brands in China, is recognized as a good car by the media and users. Every time it is replaced, it will reorganize the market value and pattern.

Friends who are familiar with Honda know that the Accord is a very popular model in the market. It has long dominated the top three in the domestic B-class car market, and its sales volume is directly crushing the Volkswagen and other models.

I believe many people have considered the Accord when choosing a B-class car. Then, today we will learn about the advantages and disadvantages of the Accord. After reading it, remember to forward it to friends who are about to buy a car. Maybe it will come in handy. ↓↓

The first is the advantage part ↓

Honda Accord is equipped with two "Dream Technologies" of 1.5T and 2.0T. The 1.5T is matched with a very durable CVt gearbox, and the 2.0t hybrid version is matched with an ECVT continuously variable gearbox, which is very fuel-efficient and durable.

Whether it is a hybrid version of 2.0T or a fuel version of 1.5T, the fuel consumption of Honda Accord is a leader in the same class.

After all, for consumers who like this class of cars, fuel saving is the key.

The Accord has a length of nearly 5 meters and a width of 1.9 meters. No matter the trunk space or the internal seating space, it is undoubtedly very large, which has great advantages compared with other cars of the same class.

The large space of Honda Accord has always been a significant advantage of itself.

Since the six-generation Accord was made in China, the Accord basically belongs to the car with the largest space among the B-class models of the same level, especially the rear row space is very spacious, which is also very satisfactory to most consumers.

You must have heard of "buy an engine and send a car" before. Honda’s engine has always been its strong point, and its dynamic response is also very rapid. Whether it is the fuel version or the hybrid version of the Accord, its acceleration ability is very good, which can meet daily use and occasionally be passionate.

It is worth mentioning that the Accord is equipped withThe 1.5T Earth Dream Technology can explode more than 170 horsepower, directly crushing many 2.0T cars on the market.

After the new upgrade of Honda Accord, both the interior and the appearance have been improved in terms of "face value", getting rid of the previous "mature and steady" characteristics and becoming more fashionable and sporty, which is deeply liked by young people.

Next, let’s take a look at the shortcomings ↓

The sound insulation effect of Honda Accord is not very good, and the tire noise is relatively high. However, the poor sound insulation of Honda is a well-known old problem. Except for the China market, almost no car has a leading sound insulation effect in the same class.

After all, its main power and control are relatively primary and secondary.

Honda Accord adopts the mainstream front McPherson+rear multi-link independent suspension of the same level. Perhaps in order to ensure the handling performance, the suspension adjustment of the car is relatively hard, butThe advantage is that the curve support is good, but the disadvantage is also obvious.

If you take some rugged roads, the sense of bumps is obvious, and the overall riding feeling is not very comfortable, but it is very suitable for taking high-speed. This is a matter of opinion.

Thin car paint can be said to be a big "feature". Although the thin paint does not mean that the safety of the vehicle is poor, the paint surface is easily scratched if it is not careful.

When encountering some slight scratches, a car with thin paint can easily be peeled off, which will only increase the repair cost, so this is also a place criticized by many car owners.

Suggestion ↓

It is recommended that qualified consumers try to choose hybrid models.

Although there may be many consumers who are worried that the batteries of hybrid models are not durable, in fact, today’s Honda hybrid technology is very mature, and the vehicles are driving normally. It will definitely be no problem in ten or eight years.

Moreover, hybrid models can bring users a better driving sense, stronger acceleration power and better fuel economy.

As long as you are used to driving hybrid vehicles, I believe it is difficult for most people to drive back to fuel vehicles.

Generally speaking, the new Honda Accord has a certain improvement in "face value", and has a good performance in terms of space and fuel economy. Dynamic performance is Honda’s consistent advantage, but it also has some shortcomings, such as poor sound insulation effect, hard suspension and thin paint.

As the saying goes, no one is perfect, and the car is never finished. Consumers must understand clearly before buying a car, and then choose a car that suits them after comprehensive consideration.

What do you think?

What else do you want to add? Please leave your opinion!

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(The pictures are all from the Internet, and they have been deleted)

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