Writing | ｜H.H
Edit | Yong Yang

After the official announcement of "big price reduction", he handed over a forecast of the worst semi-annual performance since listing.

According to the announcement, the net profit attributable to shareholders of listed companies in the first half of 2024 was 21 million to 30 million, a year-on-year decrease of 84.15% ~ 88.91%; The net profit after deduction is only 7 million to 16 million. Originally, I thought that the net profit in the first quarter fell by nearly 60%, which was already the bottom after the large-scale price reduction of good shops. I didn’t expect the performance in the first half of the year to be even more unexpected.?

Source: Announcement of Good Shop

At present, the price reduction carried out at the end of last year has had a great impact on the profitability of good shops. At the same time, competitors, represented by snack shops, are on a roll, making it even more difficult for good shops to fight.

On June 12th, Busy Snacks Group officially announced that its snacks were busy and the number of Zhao Yiming snacks stores in China officially exceeded 10,000, becoming the first brand in the snack chain industry to break through 10,000 stores. Snack-selling stores, known as "Good Shop Pingti", have quickly captured the city at a lower price in the past few years.

The reality shows that blindly pursuing low prices may not be able to beat competitors, but it will sink itself into a quagmire. To this end, the transformation strategy of good shops began to shift the focus to a healthy direction.

According to "Little Red Book’s User Insight Report on Snack Industry in 2023", in addition to pursuing emotional value, more and more consumers are beginning to pay attention to the ingredient list and have greater health needs. Good shops seize this point to carry out a comprehensive upgrade and advocate "natural and healthy new snacks".

Then, what are the odds of starting a healthy good shop?

The road to price reduction is also blocked?

In November, 2023, Yang Yinfen, the general manager of Liangpin Store, who took office for only three days, issued an open letter, officially announcing that it would implement the largest price reduction for the first time since the company was founded 17 years ago. The average price reduction of its 300 products was 22%, with the highest drop of 45%, which made Liangpin Store return to the image of its neighbors.

Combined with the gross sales margin of about 27% in the previous two years, the good shops after price reduction are very close to the cost line.

At that time, good shops were experiencing a large-scale closure under the background of the rapid rise of snack outlets, and both revenue and net profit were under pressure under the impact of competitors.

According to the 2023 financial report, the annual revenue of good shops was 8.046 billion, down 14.76% year-on-year; The net profit of returning to the mother was 180 million, a year-on-year decrease of 46.26%. You know, this is the first time that the revenue of good shops has declined in the past 10 years. It is no wonder that Yang Yinfen, the general manager, said in an open letter that "it is not only a difficult problem to live, but a question of whether we can live or not".

It is true that the good shops that have been taking the high-end route have to take the initiative to take the initiative in the face of the pressure of competitors and the impact. It’s just that this price-for-quantity strategy has not really helped the good shops get out of the predicament.

Source: Liangpin Shop Official Weibo

In the first quarter of this year, the company’s net profit was 62.48 million. According to the interim results forecast, the net profit was 21 million to 30 million. In the ideal state, the net loss of good shops in the second quarter was also above 30 million.

The price reduction strategy has been carried out for more than half a year, but the losses of good shops are getting bigger and bigger. In contrast, the official of Liangpin Store said that the decline in performance was mainly due to the price reduction of stores and the early termination of the equity incentive plan included in the current profit and loss. Of course, the price reduction is the key reason for the sharp decline in the net profit of good shops, in addition to the reduction of government subsidies and the rapid decline in online channel revenue.

First of all, look at government subsidies. According to the data of past financial reports, in 2023, good shops received a total of 87.057 million government subsidies, and in 2022, this figure was 160 million. By the first quarter of this year, the government subsidies received by good shops had fallen to 9.49 million.

Secondly, the scale of online revenue has shrunk. With the vigorous development of Internet e-commerce, the online revenue of good shops reached 4.858 billion in 2021, accounting for 53% of the total revenue. In the following two years, the online revenue of good shops continued to decline. In 2023, the online revenue of 3.167 billion yuan fell by 32.58% year-on-year.

In contrast, Yanjinpu’s e-commerce business increased by 98% year-on-year in 2023, reaching 828 million; Three squirrels achieved sales of 1.204 billion yuan through the layout of Tik Tok platform, up 118.5% year-on-year.

At present, the good shops that started from traditional stores seem to be caught in the embarrassing situation of "no village in front, no shop in the back". Offline stores can’t beat snack shops by reducing prices. Online stores miss the rise of a new generation of e-commerce platforms such as Tik Tok, and miss the traffic. It is obviously difficult to achieve longer-term development only by shouting the slogan of "high-end snacks".

Competition in track involution and snack industry intensifies.

By the end of 2023, Liangpin Store had 1,256 directly operated stores and 2,037 franchised stores, with a total of more than 3,000 stores. Objectively speaking, a single brand can open 3000 stores nationwide, and its strength should not be underestimated.

Only in the past few years, with the rapid rise of snack shops, the market share of traditional snack brands has been greatly impacted.

According to "Blue Book of China Snack Discount Industry in 2023", the snack discount market developed rapidly with an average annual compound growth rate of 114.6% from 2017 to 2022, and the sales soared from 3.7 billion to nearly 100 billion RMB. Moreover, from 2021 to 2023 alone, the number of snack supermarkets in China increased tenfold from 2,500 to 25,000.

Among them, the most representative is the Busy Snacks and the Ming Ming Busy Group after the merger of Zhao Yiming Snacks.

Just in June this year, Mingming was very busy that the total number of stores of its two major brands in China officially exceeded 10,000, becoming the first Wandian Group in the industry, ranking first in the industry with a market share of 18.5%. In the second place is Wanchen Group, which is a collection of snack brands such as Haoxianglai and Laiyoupin, with a market share of 17.5%, followed by good shops and three squirrels.?

Source: Snacks are very busy official Weibo

Undeniably, as the "Pinduoduo of the offline snack industry", mass-market stores do have a great advantage over traditional brands in terms of price. The original price of each bottle of Coca-Cola in 3 yuan can be bought in 2 yuan. The products of Wang Laoji in 2.6 yuan and Ipoh in 1.2 yuan are only sold in 6.5 yuan, which is usually as low as about 60% compared with the traditional channel discount stores.

Big brand drainage is just a strategy to attract consumers. What really supports the sustainable development of snack shops is the white brand goods in the stores, which is the so-called "flat replacement is more cost-effective".

For example, snacks are very busy. There are more than 1,600 SKUs in the store, among which big-name goods used for drainage account for about 25%, and more than 50% of white-brand goods contribute most of the profits, and the gross profit margin is generally above 30%.

In fact, most players in the snack industry usually exist as brand builders, just like there are many white-label suppliers behind good shops and herbs. Suppliers provide products, and brands add Logo for marketing promotion.

Mass-selling stores follow the same routine, but will reduce costs through large-scale collection, thus making lower prices than traditional brands to make consumers feel more cost-effective.?

Source: Snacks are very busy official Weibo

In addition to low prices, the deeper reason lies in the rich product categories in snack shops. When it comes to three squirrels, most people’s first reaction is nuts. The preserved meat, dried fruit and bread in good shops are also very popular with consumers. Gan Yuan food is good at seasoning nuts, but the difference is that mass-market stores can make consumers buy them all in one stop by differentiating zero food.

Under the impact of snack shops, good shops are struggling, and other competitors are also under attack. In the first quarter of this year, the net profit of Youyou Food decreased by 8.77% year-on-year to 43.29 million, and the gross profit margin of Gan Yuan Food’s main business decreased by 0.99%, of which the e-commerce model decreased by 10.55%. In order to maintain growth, the promotion expenses of Yanjin Shop increased by 90.02% year-on-year to 91.01 million in 2023.

Adhering to the principle of "if you can’t beat it, join it", in the third day of this year, a squirrel official announced that snacks were very busy, and Zhao Yiming snacks reached a cooperation to put the goods on the line to snack shops; Earlier, in 2022, the good shop also launched the snack discount brand "Snacks Hard Home". As of last October, the number of stores of Snacks Hard Home in Hubei Province had just exceeded 300.

It is worth mentioning that in April 2023, Liangpin Store acquired part of the equity of Zhao Yiming Snacks for 45 million yuan through its wholly-owned subsidiary. It’s just that the good shop sold its equity after holding it for less than half a year, and the interval was less than one month, and Zhao Yiming Guanxuan and Snacks were busy merging. Therefore, the good shop took Zhao Yiming to court, which was an episode in the process of exploring a new model.

Can you break the game if you are healthy?

If a good shop only passively accepts the offer under the attack of a mass-market store, it will always let its competitors lead by the nose. It is better to focus on the supply chain, play a good quality card and make healthier snacks with high quality and price ratio.

In April, Liangpin Store released a brand-new brand value proposition "Natural and Healthy New Snacks"; At the 2024 Food Innovation Exhibition held at the end of June, the good shop explained the insight behind the brand-new idea to the outside world for the first time, initiated the new standard of "five reductions", namely, "reducing salt, sugar, fat, oil and food additives", and launched the "thick meat prune" with clean ingredients list, "Dongkui Yangmei" with zero preservatives and 20% sugar reduction.

Source: Liangpin Shop Official Weibo

According to incomplete statistics, since April this year, more than 60 kinds of healthy snacks have been added to good shops. At the same time, it is announced that it will take three years to remove all unnecessary additions from snacks through technological innovation.

In other words, Liangpin Store officially turned the strategic positioning of "high-end snacks" proposed in 2019 to "natural and healthy new snacks".

As a giant in the snack industry, the shift from high-end to healthy quality is inseparable from the support of all links in the supply chain, which is precisely the difficulty that good shops need to focus on next.

First, trace the origin of the product and control the whole link.

In order to make better cookies, good shops and suppliers compared almost all potato producing areas in China, and finally selected Tengzhou potato after more than 300 recipe experiments; Yangmei is a good shop that traces back to the best place of origin and chooses Dongkui Yangmei. After picking, it enters the cold storage at MINUS 18 degrees for quick freezing. Only cleaning and sugar stains are carried out in the processing process, and no preservatives are really added. In addition, it also includes thick prunes, bread and cakes and other products.

Secondly, as a terminal enterprise in the supply chain system, good shops are also pursuing long-term.

As a mass consumer, what many people don’t know is the explosive items such as wild bamboo shoots and sea knots sold by good shops. In fact, behind them are the products launched by the brand side to continuously help suppliers improve their technology and improve efficiency.

Source: Liangpin Shop Official Weibo

Based on this, many natural and healthy new snacks introduced by good shops have achieved good performance. Since the beginning of this year, the sales volume of light and sweet dried mangoes has increased by 275% year-on-year, the fish larvae in bamboo baskets have increased by 167%, and the monthly sales volume of single products has exceeded 10 million, making it the only biscuit product in China that won the Crystal Award in 2024.

In the eyes of the industry, the blind pursuit of price war belongs to the style of "injuring one thousand enemies and losing eight hundred".

Instead of constantly exchanging price for quantity, it is better to refer to the practice of Sam member stores in many supermarkets, ensure the quality and reduce the cost through scale. Even if the price may not be the lowest, it can also form its own moat through a higher quality-price ratio.

The only thing to worry about is that the good shop is not from a research and development company. In 2023, the R&D expense ratio was only 0.54%, which was significantly lower than that of Yanjin Shop (1.94%) and Jinzi Food (1.92%).

It is necessary to increase more R&D investment to continue to cultivate healthy snacks. It will take time to further verify whether the good shops that have entered the loss stage can achieve long-term success.

This article is about 3000 words.

It takes 8 minutes to read.

In 1960s, the new martial arts films represented by Hu Jinquan and Zhang Che led the Hong Kong film industry into a golden age. From 1960 to 1967, the output of Hong Kong films even surpassed that of Hollywood, and the number of local movie-goers alone reached 100 million, setting a historical record. Among them, action films including martial arts films, kung fu films and gun battles have made the most important contributions. For many audiences in that period, Hong Kong movies were almost equivalent to action movies. To this day, Hong Kong action movies still have a profound impact on the global film industry. Quentin Talentino, Wachowski and other directors have paid tribute to Hong Kong action movies in their films.

Against the backdrop of swords and bullets, Jet Li and Jackie Chan became international movie stars. At the same time, actresses have more or less participated in action movies, but few of them really became famous for action movies and can be called "beating women". Looking at the international film industry, "beating women" is also an alternative rose.

With the changes of the times and the development of science and technology, the status of beating women on the screen is getting higher and higher. In addition to better kung fu, their images and personalities are also fuller. They are no longer the foil of men in action movies, and feminist consciousness gradually stretches in one stroke and one style, becoming a symbol of women’s rising status.

Everyone in Hong Kong knows me.

Hunan Satellite TV once broadcast a reality show in which Pei-Pei Cheng traveled in Europe with several mainland stars. Singer Hua Chenyu was at a loss when he was surrounded by fans. Pei-Pei Cheng comforted him: "I was once very popular, and people all over Hong Kong knew me." What Pei-Pei Cheng said is true. She was once rated as the "martial arts queen" by the Hong Kong media and became popular all over Southeast Asia. Even if I went to the United States after taking a photo, there are still almost no people in Chinatown who don’t know.

Today’s TV viewers are often shocked by Pei-Pei Cheng’s beauty when they search for old photos on the Internet. Young Pei-Pei Cheng, with beautiful facial features, has a faint heroic spirit, which is somewhat similar to later Brigitte Lin. In 1963, 17-year-old Pei-Pei Cheng was admitted to the second phase of Southland Experimental Troupe of Shaw Film Company. After graduation, she became one of the "Twelve Golden Hairpins in Cinema" advocated by Shaw, and Pan Yingzi was in the same period with her. Two years later, she entered the ranks of "New Twelve Golden Hairpins".

At that time, Hong Kong films were popular, and Pei-Pei Cheng’s first screen image was disguised as a man in Lotus Lantern. In 1964, the artistic film "The Lover’s Stone" made Pei-Pei Cheng famous at one fell swoop. Her youthful and lively image in the film fascinated many audiences, and she won the "Golden Warrior Award" of the International independent filmmakers Association, which was the first time that an Asian won the award. But it will be two years before Pei-Pei Cheng really stands out in Shaw Beauty Camp.

Pei-Pei Cheng, who studied ballet as a child, is known as "long-legged sister". Hu Jinquan took a fancy to her dancing skills and invited her to star in come drink with me, the pioneering work of Hong Kong’s new martial arts film. Dance and martial arts, which sound similar, are totally different. Golden swallow, played by Pei-Pei Cheng, makes two short swords clean and beautiful in the film, but there are obvious traces of ballet. Wushu pays attention to the stability of the chassis, while ballet stretches upward. In a scene of fighting in a temple, Pei-Pei Cheng slightly raises his chin among a group of bandits, like a lonely cygnet. When I was in the Southern China Experimental Troupe, the company hired a martial arts teacher to teach them martial arts. Many girls cried because their noses were bleeding, which made the competitive Pei-Pei Cheng look down on them and felt that she had lost the face of the girls. "Being able to bear hardships" was another important reason why Hu Jinquan chose her.

Elliot Ngok, come drink with me, and Chen Honglie, Jade-faced Tiger, who partnered with Pei-Pei Cheng in come drink with me, are the third-stage students of the Southern China Experimental Troupe. When they entered the school, they were just in time for the second stage students to rehearse the graduation drama "Xiang Fei", and Pei-Pei Cheng played the heroine Xiang Fei. They stood beside Gan Long as a walk-on. Pan Yingzi played golden swallow’s unknown female soldier in come drink with me, and Cheng Xiaodong, who later became a famous action film director, was only 12 years old. She was dragged to play a nameless young monk on the set with her father, and was shot blind as soon as she appeared.

In 1966, come drink with me achieved unprecedented success after its release. The protagonist of this play should have been "come drink with me" Elliot Ngok, but it was "golden swallow" Pei-Pei Cheng who stole the limelight and established her position as the leading actress of Shaw. Shaw pursued the victory and Zhang Che filmed another martial arts drama "golden swallow". Pei-Pei Cheng had long heard about Zhang Che’s love of shooting male-dominated films, and refused to accept his play at first. Zhang Che spent a lot of time convincing her that she was the real heroine. However, when the film was made, the play was still on the hero "Yin Peng" Wang Yu. Pei-Pei Cheng’s martial arts action in this play is not much, but his emotional play is brilliant.

"Hu Jinquan will let you play it 100 times."

At the same time as Pei-Pei Cheng, there were Lingfeng ShangGuan and Feng Hsu. The name Lingfeng ShangGuan, at first glance, is a woman, but it is not her real name. She was born in Taiwan Province, whose original name was Xu Zhimei, and was chosen by Hu Jinquan because of her dance foundation. In the 1967 film Longmen Inn, she played Zhu Hui, a chivalrous woman disguised as a man. This is another classic in a martial arts film. More than 20 years later, the New Longmen Inn directed by Tsui Hark was also a great success. Qiu Mo Yan played by Brigitte Lin can be said to have developed from Zhu Hui. With the popularity of Longmen Inn, Lingfeng ShangGuan began to learn martial arts from his teacher. Taekwondo, karate and Taijiquan were all involved, and they became the rare movie stars with "real kung fu" at that time. In 1973, Lingfeng ShangGuan became the first "martial arts queen" of the Golden Horse Award for starring in the fashion martial arts film "Little Hero on the Road". After the film in 1981, she taught Taekwondo in America.

Hu Jinquan was very harsh on the actors’ performances. When filming Longmen Inn, he often scolded Lingfeng ShangGuan on the set. Feng Hsu plays a small role without a straight face in this play. He just needs to run around behind the protagonist, feeling glad that he is not the leading role, and need not be scolded. And the opportunity to star will come soon. Feng Hsu suffered a lot in her childhood, and her father died early. After her mother remarried, her stepfather treated her badly, resulting in her melancholy and introverted personality. Hu Jinquan thought she was particularly suitable for playing Zhongliang, whose life experience was bleak. In 1970, she was asked to be the heroine in Xia Nv. In the 200-minute film, she hardly laughed. "The first scene of the boot was that I fought with more than 40 martial artists. As a result, he scolded me in front of more than 100 reporters. It was a very cold winter, and my hair was dripping with water after filming. It’s too easy to shoot another director after filming director Hu’s play, because director Hu will let you play it 100 times, while other directors will pass it once. " Years later, Feng Hsu recalled.

Due to Hu Jinquan’s persistent pursuit of film quality, Xia Nv was filmed for more than 4 years. At that time, there was no high technology, and the performance of lightness skill mainly depended on the spring bed, and the actors had to keep practicing back and forth. Unless it’s particularly dangerous, Hu Jinquan always asks the actors to go into battle in person. The bamboo forest war in "Xia Nv" has become an eternal classic in martial arts films, and it has appeared frequently in subsequent martial arts films. The film later went to Cannes, France to participate in the film festival and became famous internationally. After winning two golden horse movies, Xu Feng turned behind the scenes and set up Tomson Film Company. She was the producer of films such as Rolling Red Dust and Farewell My Concubine. Feng Hsu called Hu Jinquan an enlightenment teacher, and playing "Beating Women" became a turning point in her fate.

In the 1960s and 1970s, Hong Kong was in a period of rapid economic development, and a large number of well-educated female white-collar workers showed their edge in the workplace. The "beating women" on the screen did not let a man, not only with great kung fu, but also with chivalry and bravery, which coincided with the social psychology at that time to some extent, and thus succeeded.

The younger generation has a chance to get ahead, which is related to Pei-Pei Cheng’s early retirement. In 1971, after filming Lady Zhong Kui, Pei-Pei Cheng, who was only 24 years old, "quit the Wulin" and married in the United States, leading a normal life of caring for her husband and educating her children. For the female movie stars of that era, it was a common choice to get married and take a rest. In 1989, Pei-Pei Cheng’s marriage failed, and three years later, she returned to Hong Kong. Twenty years have passed, and the film industry is completely different. Stephen Chow is the hottest star. Pei-Pei Cheng was introduced to play Mrs Hua in Stephen Chow’s film "Tong Pak Hu Dian Qiu Xiang", which was also "beating women", but this time she was in charge of making jokes. Most of the funny tasks in the original film fall on Chou-heung played by Gong Li, but Gong Li can’t adapt to Stephen Chow’s funny way, but Pei-Pei Cheng is willing to put down his body and eat "half a step with a smile". Director Li Hanxiang felt sorry for her: "The role of Mrs. Hua ruined Pei-Pei Cheng."

In Ang Lee’s Crouching Tiger, Hidden Dragon, Pei-Pei Cheng’s image is subverted again, and she plays a ruthless "blue-eyed fox". In the film, the blue-eyed fox has a classic line, "He looks down on women, so he deserves to die", which makes many male viewers feel worried. This time, what women want is not love, but respect. The old fans in Hong Kong are still obsessed with her once pretty face, while the new audience in the mainland are only amazed at the sharpness and determination in her eyes. From golden swallow to the blue-eyed fox, the beauty is getting old and the kung fu is still there.

This article is adapted from the National Humanities History in May 2014, with the original title "Exploring Bagua Palm from a Generation of Masters". This article is an exclusive contribution of National Humanities History, and readers are welcome to forward it to their circle of friends.

END

Author | Liu Xinyin

Editor | Hu Xinya

Typesetting Editor | Han Qijuan (Internship)

Proofreading | Miao Yiqi

　　Cctv newsAs a unique cultural symbol of New Year’s Eve, the TV Spring Festival Gala has been with the audience for 35 years and has become another New Year’s Eve dinner that people all over the country are looking forward to. The annual TV Spring Festival Gala not only engraves the brand of the times, but also constructs the common meaning space of the national party. As "the first Spring Festival Evening in the new era", this year’s program presents a new sports atmosphere that is eye-catching. Recently, Wen Wei Po praised the CCTV Spring Festival Evening in 2018 as "the dance language and music language are very rich, grounded, warm and magnificent." "Let the large-scale song and dance of strength and beauty show the majestic momentum."

　　Traditional program forms integrate sports elements.

　　This year’s Spring Festival Evening still continues the pattern of dance, song, language and folk art programs. Different from previous years, this year, under the traditional program form, it not only absorbed the spirit of national traditional culture, spread the fresh flavor of the times, but also integrated diversified sports elements.

　　Martial arts program "Double Heroes" and so on, combined with the grand and magnificent dance design, show a period of flowing, vigorous and powerful martial arts movements; Against the backdrop of the magnificent army and all kinds of advanced weapons, "Sharpen Soldiers in the Battlefield" shows the audience the powerful military strength and majestic spirit of the motherland through the dancers’ difficult sports movements. "Above the Waves" is an innovative combination of sports and dance, which makes the program both enjoyable and thrilling, attracting applause from the audience, and sports elements have become a beautiful landscape in this year’s Spring Festival Evening.

　　Sports athletes participate in program performances.

　　The choice of performers also reflects the promotion and promotion of sportsmanship in this year’s Spring Festival Evening. The dancers in Above the Waves are from the Nanjing Institute of Physical Education’s Skill Team, who once won the gold medal in the World Skill Championship. This year, the performance form of sports combined with dance appeared for the first time on the stage of the Spring Festival Evening. It was the participation of professional athletes that ensured the technical height and program quality and presented the audience with a wonderful performance with world-class difficulty.

　　Not only live performances, but also sports athletes appeared in off-site videos. After careful rehearsal and training, 48 parachutists from all over the world finally completed the challenge of forming the Chinese character "Fu" in the air, and achieved the double success of combination and shooting. Foreign athletes have presented the most sincere New Year greetings to the people of the whole country with their professionalism and spirit of striving for perfection.

　　Tai Chi and Wushu are on the same stage for the first time.

　　One of the highlights of this year’s Spring Festival Gala program is the wonderful scenes of Tai Chi versus Wushu and Shaolin versus Wudang. The poetic stage background, elegant and elegant costumes, and heroic martial arts movements make an unforgettable audio-visual feast come to the fore.

　　On the one hand, the performance of combining rigidity with softness reveals a strong cultural charm. There is a cultural pulse that lasts for thousands of years between the exchanges between Wushu actors. While watching the program, people taste the strong core of Chinese culture. The perfect interpretation of the program fully inspired people’s cultural consciousness and self-confidence, and also expressed China people’s strong desire to promote their excellent culture "going out".

　　On the other hand, the program realizes the perfect integration of stage art and sports competition, and the suspense brought by competition just enriches the plot clues of martial arts performance programs, and the high-quality stage effect that fits the theme also sets off the unique charm of sports competition. This year’s Spring Festival Gala has become a dazzling confrontation stage, bringing a fresh and special viewing experience to the audience.

　　Four sub-venues advocate "sports for all"

　　In addition to the live broadcast of CCTV Hall 1, this year’s Spring Festival Evening also set up four sub-venues in Qiandongnan, Guizhou, Zhuhai, Shandong Qufu Taian and Sanya, Hainan. The grand festival of the sub-venue not only reflects the different customs and cultural characteristics of China’s vast land, but also conveys an open cultural temperament from the scene of people gathering in the square.

　　On the "Colorful Guizhou" branch, the Dong people dressed in traditional national costumes sang big songs of the Dong people, which constituted a shocking scene of a chorus of thousands of people. It conveys the new atmosphere and full happiness of Guizhou people, and also shows the pride and sense of gain of people of all ethnic groups entering a new era. On the "friendly shandong" branch, when the song "Descendants of the Dragon" was played, the dancers standing on the steps of the square held hexagonal bronze mirrors in their hands, and vividly imitated the surging magnificent landscape of the Yangtze River and the Yellow River … …

　　The program design of the sub-venue fully takes into account the characteristics of the square stage, combines the square culture emerging in China with the appearance of the city, and shows the new achievements of urban development and the new pursuit of people’s life in the new era. The elements of the square highlight the mass and show the spirit of the people of the whole country who are positive and sunny. On the Hainan Branch, the appearance and blessing of the representatives of China athletes conveyed the life concept of national fitness to the national audience and spread the majestic glory of China sports to the world.

　　Chinese culture has a long history. In the long historical years, the Chinese people, through unremitting thinking and practice, have created cultural treasures that condense national cultural characteristics and strong sportsmanship. The artistic presentation of traditional Wushu in this year’s Spring Festival Evening is the inheritance and development of traditional culture by Chinese sons and daughters in the new era, expressing strong cultural consciousness and self-confidence.

　　National fitness is national happiness. The strength of the Spring Festival Evening program in sports is the concrete embodiment of the program group’s insistence on taking the people as the center, paying attention to the masses and people’s livelihood. Advocating a healthy life for all is conducive to improving people’s quality of life and enhancing people’s happiness.

　　The golden rooster resigns the old year, and the Swiss dog announces the spring. CCTV Spring Festival Evening in the Year of the Dog of 1898 shows the vigorous development of sports culture and the diversified connotation of sports spirit through the integration of sports elements, the participation of athletes, the confrontation between Taiji and Wushu, and the setting of sub-venues, leading a unique new sports atmosphere.

"You wear short sleeves in the house in the north and I tremble in the bed in the south."

Accompanied by the end of the year is a burst of winter wind, blowing people shivering.

At this time, it is time to move out the magic weapon for heating that has been treasured for many years.

Soak in a hot pool and a hot spring & eat a strong roast whole lamb

The end of the year is a good time for the company to build a group and get together with relatives and friends.

Don’t be extravagant in winter, get some of these comfortable boards.

Eat roast whole sheep and get； rid of cold; Soak in hot springs and get rid of the cold!

Yubei District

Bubble: Tongjing Hot Spring　

As a 4A-level scenic spot, Tongjing Hot Spring must not lose.

It is covered with light smoke, beautiful environment and natural water quality.

Take charge of mountains, waters, forests, springs, gorges, caves and waterfalls.

Tianchi, Island and Ancient Village are called natural museums.

Soak in the hot springs and enjoy the beautiful scenery around you.

I am lucky to see wild monkeys.

Address: No.66 Jingquan Road, Yubei District

Eat:Tongjing roast whole lamb　

In Tongjing Hot Springs, you can not only soak in hot springs but also eat roast sheep.

If you have accommodation needs, you can book a room directly.

The roasted sheep here are all grazing goats raised by local farmers.

Charcoal baking is healthy and healthy.

Address: No.66 Jingquan Road, Yubei District

Beibei district

Bubble: Bailian Hot Spring　

Bailian Hot Springs is located on the edge of the cliff of the historic North Hot Springs.

Jialing River runs away from its feet. Adjacent to the ancient temple

Gather the aura and fairy spirit of Jinyun Mountain.

It has 26 hot spring Tang Chi with different styles, all of which are outdoor.

Embedded in a green forest.

Address: North Hot Spring Park, Beibei District

Bubble:Banyan tree　

Banyan Tree Beibei is located at the foot of Jinyun Mountain.

Have a quiet atmosphere close to nature and full of spirituality.

Chinese architecture and unique environment with the style of the Republic of China

Known by netizens as "the most beautiful hotel in history"

The price of hot springs is moderate. At this price,

Soak in this environment, cost-effective der~

Address: No.101 Wenquan Road, Chengjiang Town, Beibei District

Bubble:Xinjing hot spring　

Xinjing Hot Spring is built in accordance with Jinyun Mountain, and is born in close proximity to Jialing River.

There are 30 hot spring pools hidden in bamboo forests.

So it is also called "bamboo forest hot spring"

It perfectly integrates mountains, water, bamboo, springs and forests.

It is a theme hot spring with distinctive bamboo culture.

Address: No.1 Yunhe South Road, Shili Hot Spring City, Jinyun Mountain, Beibei District

Bubble:Haiyu yunshui hot spring　

Haiyu Yunshui Hot Spring is the only one in Beibei District.

Hot springs in five-star hotels

The spring water comes from a high-quality hot spring with a depth of 1600 meters underground.

Homogeneity with the famous North Hot Springs.

Address: No.198 Shuangyuan Avenue, Beibei District

Eat:Xinjing roast whole lamb　

Xinjing roast whole lamb is made of local black goat.

Use the original forest charcoal and marinate it for 2 hours with the exclusive secret recipe.

After 5 hours of artificial baking. Golden and shiny roast whole lamb,

The external meat is brown and crisp, and the internal meat is soft and tender.

The mutton smells fragrant, mellow and delicious.

With a milky white mutton offal soup, absolutely!

Address: No.1 Yunhe South Road, Shili Hot Spring City, Jinyun Mountain, Beibei District

Eat:Cableway roast whole lamb　

The ropeway roast whole lamb is located under the ticket office of Jinyun Mountain ropeway.

The price is very cheap, and it is close to those hot springs in Beibei.

Beibei’s old brand roast whole sheep has a super good business.

The meat is crisp outside and tender inside, and the sea pepper noodles on it taste strong.

Address: No.210, Beiquan Road, Beibei District (near Jinyun Mountain Cableway)

Jiulongpo District

Bubble: Hailan Yuntian Hot Spring　

Hailan Yuntian Hot Spring is next to Longtan Lake.

Backed by the scenic Jiufeng Mountain and Baitaping Forest Park.

It can be called "Xanadu" in the center of the city.

Hot springs are taken from underground natural hot spring water, and the temperature is about 40℃

There are about 21-30 open-air hot springs, Tang Chi and swimming pools.

Address: Hailan Yuntian Hot Spring Resort Scenic Spot, Yunyao Road, Jinfeng Town, Jiulongpo District

Bubble: Bedi Yiyuan Hot Spring　

The water temperature of Bedi Yiyuan Hot Spring is 52℃

From the 2800-meter deep vein of Zhongliang.

Rich in various trace elements, it nourishes people wholeheartedly.

There are more than 30 Tang Chi with various themes, as well as private soup houses.

Address: No.288 Nongke Avenue, Jiulongpo District (Bedi Yiyuan Resort)

Bubble: Pushi Hot Spring in Shangbang　

Shangbang Pushi Hot Spring originates from 2900 meters underground.

Pure and natural, it is a neutral calcium sulfate medical health hot spring.

There are more than 30 Tang Chi with different functions, which are divided into spa areas.

Fish therapy area, essential oil area, medicated bath health area, etc.

Address: No.3, Banglu Village, Lan Village, Jinfeng Town, Jiulongpo District

Eat:Hai LAN yun Tian roast whole lamb　

Roasted whole lamb in Hailan Yuntian Hot Spring Resort

Pippi is crisp enough for people to eat, and the meat inside is super tender.

Mutton soup pot with unlimited supply of side dishes is excellent!

Address: Hailan Yuntian Hot Spring Resort Scenic Spot, Yunyao Road, Jinfeng Town, Jiulongpo District

Eat:Mu mutton Zhuang roast whole lamb　

Time-honored brands around Hailan Yuntian Resort

It has been open for nearly 20 years, and the venue is relatively large.

Mainly roast whole lamb, roast chicken and firewood chicken. ..

Address: No.100, Hailan Village, Jinfeng Town, Jiulongpo District

Nan ‘an District

Bubble:Haitang xiao yue Shengdihot spring　

It can be regarded as a hot spring closest to the main city.

Located in the original site of "Haitang Yanyu", one of the twelve scenic spots in Bayu.

Hot springs are taken from deep hot water 3000 meters underground.

There are 52 natural hot spring pools.

Address: No.589 Nanping East Road, Nan ‘an District

Bubble: chongqing nanshan Haichang Tangdu　

You don’t have to go to Japan, but you can experience the pure Japanese style in Chongqing.

Everything from the scene to the experience is restored, and men and women are separated from each other.

Tang Chi is divided into indoor and outdoor, each of which has its own different functions.

Address: No.35 Chongwen Road, Nan ‘an District

Eat: Haichang TangduRoast Whole Lamb　

After taking a warm bath, have a bite of roast whole lamb with tender inside and scorched outside.

Really don’t make your wife too happy, okay?

Mutton became golden and crisp because of the fire.

Sprinkle a handful of soul chopped green onion, and the saliva will really be lost.

Address: No.35 Chongwen Road, Nan ‘an District

Eat: old back to XinjiangRoast Whole Lamb　

This is a chain store, but all the reviews are good.

Crispy outside and tender inside is the best evaluation of it.

In the process of eating, you don’t need a knife at all, and you will come with your hand gently tearing the meat.

Single-family environment, Chinese garden style

Address: No.11, No.1 Attached to Yanyu Road, Nan ‘an District

Shapingba district

Bubble: ronghui hot spring　

Ronghui Hot Spring is also a relatively close one to the main city.

Hot spring water is taken from more than 1800 meters deep underground rock.

It has great medical, health care and beauty value.

Of course, the most worthwhile punch is the hot pot hot spring.

Let’s "throw" ourselves into the hot pot this time ~

Address: Lishuwan, No.6 Huiquan Road, Shapingba District (near Three Gorges Square)

Eat: Hailan Yuntian (Mongolia)Roast Whole Lamb　

This sea blue sky is the sea blue sky of Shapingba.

Sitting in a yurt and eating roast whole sheep seems to have gone to Mongolia.

Sheep are of good quality, and the vegetarian dishes and sheep blood are provided free of charge.

Address: No.9 Lizhiqiao, Shapingba District (next to Landi Driving School)

banan district

Bubble: Xiuquan Yingyue Hot Spring　

Banan East Hot Spring has long been famous.

This is the best hot spring in Banan District.

The daily flow of hot springs here is more than 5,000 tons, and it is 52℃ all the year round.

Hot spring water is also a precious mineral water.

Rich vegetation and high cost performance ~

Address: No.102, Dongquan Main Street, Dongquan Town, Banan District

Bubble: Witkasi East Hot Spring　

The hot springs in Dongquan have good water quality.

This family has a quiet environment, and Tang Chi is located in the forest.

It is a natural sulfur hot spring pool, which is divided into ordinary tickets and vip tickets.

Address: No.3, Fuling Street, Dongquan Town, Banan District

Eat: Xiuquan reflects the moon.Roast Whole Lamb　

If you are recommended to soak in the hot spring in Xiuquan Yingyue, you can eat roast whole sheep at his house.

After all, it’s convenient. If there are many people, you can call in advance.

Get discounts on hot springs and roast whole sheep. It’s delicious!

Address: No.102, Dongquan Main Street, Dongquan Town, Banan District

Eat: Happy ForestRoast Whole Lamb　

Punch-in place where country dishes and roast whole sheep are delicious.

Sheep raised in mountainous areas are selected, and the meat is tender and firm.

This is a specialty store of hot springs. Roasted sheep and roast chicken are super happy to eat ~

Address: Dongquan Town, Banan District (near Celestial Hotel)

Original title: Overcoming Chongqing’s winter? 13 hot springs+roast whole sheep, the most detailed raiders, take it away!

[Disclaimer] The texts, pictures, audio and video that are not marked with "Source: Upstream News-chongqing morning post" or "Upstream News LOGO" on the upstream news client are all reposted. If the reposted manuscript involves copyright issues, please contact the upstream news.

In recent years, the national economy has developed rapidly, and everyone’s income has also increased to a certain extent. It is very helpful for them to have a scooter for their daily commute. What xiaobian wants to introduce to you today is. Let’s take a look at it together.

Let’s take a look at the appearance of the Audi A6 first. The front of the Audi A6 looks very elegant and equipped with a banner grille, which looks sporty. Coupled with sharp headlights, it is in line with consumers’ aesthetics. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing, rain and fog mode and so on. Come to the car side, the car body size is 4951MM*1902MM*1504MM, the car uses dynamic lines, the car body gives a very simple and fashionable feeling, with large-size thick-walled tires, the shape is quite eye-catching. At the rear of the car, the rear of the car echoes the front of the car, and the taillights are very delicate, creating a good atmosphere.

The interior of Audi A6 looks clean and the visual effect is very good. The car’s four-position steering wheel is not bad in practicality and face value. It is made of genuine leather and has a sense of design. From the central control point of view, the design of the center console is reasonable, which makes the interior style impressive and looks young and individual. Let Xiaobian introduce the dashboard and seats. The car is equipped with a spiritual dashboard and the shape takes the sports route. The car adopts leather-like seats, which are wide and thick, further improving the comfort of drivers and passengers.

Next, let’s look at the configuration. Audi A6 is equipped with car networking, driving mode selection, remote control key, rear wiper, interior atmosphere light and other configurations.

To sum up: the car introduced today is remarkable in terms of space, configuration and power, and home travel is also a good helper.

Family carThere are generally three types of gearboxes, AT, CVT and dual clutch. American GM and Ford generally use AT, Japanese mostly use CVT (AT), German mostly use dry dual clutch (self-priming is matching Aisin 6AT), Korean mostly use AT and dual clutch, and domestic majority. What kind of gearbox is good? Each has its advantages and disadvantages! Let’s share our choices about:

AT gearbox

1. love letter AT. The external sales of this gearbox should be the most. The quality and stability market can show that some domestic models are also equipped with Aisin 6AT and 8AT. This brand AT has smooth gear shifting, good fuel economy and can adapt well to different road conditions. Among them, 6AT is divided into high and low power versions, which seems to be the low power version, but it is completely sufficient for the self-priming engine, and it is equipped with the high power version.

2. ZF 8AT. This gearbox has strong performance and high efficiency, and is basically used in German luxury brands, such as BMW 3, 5 and 7 series, and some models are also equipped.

3. Universal 9AT. This gearbox has a moderate upper and lower speed, but the throttle response is fast after the speed goes up. Secondly, Ford 8AT was developed in cooperation with GM, and one group was reduced on the basis of 9AT.

4. Modern 6AT and 8AT. Modern AT has strong stability and good ride comfort. Because the modern gearbox and engine are not only developed by themselves, but also the control programs of the engine and gearbox are developed by themselves, they feel good ride comfort when driving, and generally carry their own models.

5. Fuzhen 8AT. The first self-developed AT gearbox in China, many AT gearboxes are basically in the hands of international first-line car companies. Under such circumstances, it is very difficult to develop AT, which is worthy of admiration. Just like, this is not something that can be done overnight, but a long-term persistence. The new engine 2.0T is equipped with this gearbox.

6. AT gearbox structure. Mainly planetary gears, generally there are several groups of planetary gears with several gears. The power output by the engine is transmitted by the oil in the hydraulic torque converter in the gearbox, and it will lock up when the speed reaches a certain level. Compared with dual clutch, AT has smaller volume and more mature technology.

continuously variable transmission

CVT gearbox, two combinations, chain or steel belt is in the middle of two vertebrae, and the chain type can bear more than the steel belt type. The advantages of CVT are better ride comfort in power transmission than dual clutch, low cost and fuel economy. Disadvantages can not bear large torque, family cars are generally CVT, luxury cars rarely use CVT. Pro uses steel chain CVT, which is not easy to slip compared with steel belt type.

Dual clutch and manual gearbox are somewhat similar. Double clutch can be divided into wet clutch and dry clutch. The main difference between dry clutch and wet clutch is that the oil is added around the clutch plate, so the heat dissipation is relatively better. Theoretically, wet clutch is better than dry clutch. The advantages of dual clutch are fast shifting and high power transmission efficiency. The disadvantage is thAT the smoothness of at and CVT gearboxes is slightly worse. Most models under 150,000 are dual-clutch, but due to the fast shift, most of them use dual-clutch gearbox, but the quality is definitely higher.

summary

There are no perfect products, only products that suit you! Among the three, AT is more comprehensive, combining the advantages of CVT and dual clutch, but it is expensive, while CVT and dual clutch have their own advantages and disadvantages.

This article is purely personal sharing, thank you for reading!

Share more car knowledge later!

　　Beijing, March 10 (Reporter Cheng Chunyu) The US WTI crude oil futures recorded the largest intraday decline in history, the US stock market rarely triggered the fuse mechanism, the US treasury bond futures "daily limit", and more than half of the world’s important stock market indexes fell by more than 6%. March 9, 2020 is destined to be a day worth recording in the history of global financial markets.

　　Data Map: new york Stock Exchange.

　　set records

　　— — Crude oil futures hit the biggest intraday decline in history.

　　After the Organization of Petroleum Exporting Countries (OPEC) failed to reach a production reduction agreement with oil-producing countries, Saudi Arabia drastically cut oil prices, which led to a sharp drop in international oil prices. Brent crude oil futures plunged 30% to $31.02/barrel in early trading, the lowest level since February 2016; US WTI crude oil also plunged 27% in early trading, and once fell more than 33% in intraday trading to $27.34, setting a new record for the largest intraday decline in history.

　　— — US stocks rarely trigger fuse mechanism.

　　The U.S. stock market plunged at the opening, and the S&P 500 index fell by 7% at the beginning of the session, triggering the first-level fuse mechanism, causing the U.S. stock market to suspend trading for 15 minutes. This is the first time since the financial crisis in 2008 that US stocks have been blown down due to a sharp fall. There are even media reports that this is the second real fuse in the history of US stocks. The last real fuse of US stocks was on October 27, 1997.

　　— — More than half of the important stock indexes fell by more than 6%

　　According to Wind’s statistics, among the 16 important indexes of global stock market, on the 9th, in addition to the three major indexes in the United States, the FTSE 100 in Britain, DAX in Germany, CAC40 in France, Nikkei 225, Standard & Poor’s 200 in Australia, etc., a total of nine indexes fell in intraday trading, and even closed down more than 6% on the same day. The three major European stock indexes fell more than 8% in intraday trading, followed by the China Shanghai Composite Index, which fell by about 3%.

　　— — Us debt futures "daily limit", yield hit a record low

　　Under the safe-haven demand, the influx of funds caused the US 10-year treasury bond futures to hit the upper limit and the trading was temporarily suspended. The yield of the US 10-year treasury bond once fell to a record low of 0.318%, with an intraday decline of nearly 40%. The 30-year US Treasury bonds once dropped to 0.702%, continuing to hit a record low, with a daily decline of nearly 30%. Moreover, as the leading indicator of economic recession, the yield curves of 3-month and 10-year US government bonds were once upside down, which sounded a panic alarm.

　　— — The price of gold returned to $1,700 per ounce after eight years.

　　After the sell-off of crude oil and stock market, investors flocked to the safe-haven assets including precious metal gold. On the 9th, the international gold futures price broke through the $1,700/oz mark, the highest since December 2012.

　　source map

　　(blasting) fuse

　　— — The price war of crude oil suddenly opened after six years.

　　Affected by the COVID-19 epidemic and other factors, the U.S. stock market plunged continuously. In view of the evolving risks brought by the epidemic to economic activities, the Federal Reserve cut interest rates by 50 basis points on the 3rd, and then the U.S. stock market fluctuated widely, and a roller coaster market was staged last week.

　　"The crude oil price war started in Saudi Arabia over the weekend became the fuse of the global financial market’s plunge on the 9th." According to foreign media reports, Russia refused to cut production at the OPEC+policy meeting on March 6, and OPEC and its allies in oil-producing countries failed to reach any production reduction agreement, which means that from April, OPEC-related oil-producing countries will completely liberalize production restrictions.

　　On March 7th (Saturday), Saudi Arabia, the main OPEC country, drastically reduced the price of crude oil sold to foreign markets such as Europe, the Far East and the United States, with the largest discount in more than 20 years, in order to attract foreign refineries to buy Saudi crude oil. Saudi Arabia also said that if the market needs it, Saudi Arabia can reach the level of 12 million barrels per day.

　　The market generally believes that after a lapse of six years, Saudi Arabia took the initiative to start a crude oil price war, which exceeded the market’s previous expectations. Previously, many financial analysts predicted that OPEC would further cut production to boost oil prices.

　　On the 9th, US President Trump sent a tweet to appease the panic market. It said that the debate between Saudi Arabia and Russia on oil prices and production, as well as the false news spread by political opponents, were the reasons for the stock market decline that day, and the decline in gasoline prices was also a good thing for ordinary consumers.

　　ChrisRupkey, an economist at Mitsubishi UFJ Finance, said: "The plan to reduce oil prices will make more cash flow into people’s hands, which can drive consumer spending and boost the economy, but this does not seem to alleviate the impact of the stock market on investors. The plight of Wall Street may have a negative impact on the economy. "

　　"The plunge in oil prices has once again aggravated the fragility of the market," JasonDaw, head of Asian foreign exchange strategy at Societe Generale, told the media. "The longer the global epidemic lasts, the greater the risk of a full-scale crisis."

　　afternoon trading

　　— — Will crude oil prices continue to fall?

　　On the 9th, the international oil price plummeted, once falling more than 30%, setting a new record for the biggest intraday decline in history. NYMEX crude oil futures closed down 26.74% to $30.24/barrel, the lowest since February 2016; Brent crude oil futures fell 26.24% to $33.39/barrel, both the biggest one-day declines since the Gulf War in 1991.

　　As of press time, the price fluctuation of energy and chemical futures such as crude oil.

　　In the latest report, Goldman Sachs analysts said that Brent crude oil price may drop as low as $20 per barrel, which will test some oil producers. "The price war has completely changed the prospects of the oil and gas market. Goldman Sachs lowered its oil price forecast for the second and third quarters to $30 per barrel."

　　Hong Hao, managing director and head of research department of Bank of Communications International, believes that the impact of the oil crisis is reflected in the following aspects: the price of junk bonds in the United States will plummet, the stability risk of the financial system will rise, and the expectation of deflation will increase the difficulty of monetary policy.

　　However, in the view of Xi Jiarui, a senior analyst of Jinlianchuang Crude Oil, this oil price drop will not become a long-term trend like the oil price crash in 2014. Saudi Arabia’s behavior is to force Russia to continue to cooperate with OPEC. It is expected that once the oil price falls to a level that Russia itself feels unable to bear, it is likely to restart the production reduction agreement.

　　According to the latest report of Everbright Securities, the special alliance between Saudi Arabia and the United States means that it will be difficult for the United States to accept the prospect that oil prices will continue to slump because of the price war in Saudi Arabia. Therefore, the current plunge in oil prices is unsustainable, and there may be variables in the future.

　　Xi Jiarui said, "The next production reduction meeting is on June 9, and it is very likely that Saudi Arabia and Russia will jointly cut production again. At that time, oil prices may rebound in retaliation."

　　On the 9th, the decline of major stock indexes in European and American stock markets.

　　— — European and American stock markets enter a technical bear market?

　　As of the close of the 9th, the Dow Jones index plunged more than 2,000 points, closing down 7.79%, the biggest one-day drop since 2008. The S&P 500 index fell by 7.60%, and the Nasdaq index fell by 7.29%. Oil stocks suffered heavy losses, and Chevron fell more than 15%, leading the Dow. So far, the Dow has dropped by 19.34% compared with the historical high set by this bull market.

　　On the same day, major European stock indexes closed down across the board, and many stock indexes entered a technical bear market. Britain’s FTSE 100 index fell 7.69%, France’s CAC40 index closed down 8.39%, and Germany’s DAX index fell 7.94%. Among them, Germany DAX index, France CAC40 index, Italy FTSE MIB index, Europe Stoxx 50 index and Britain FTSE 100 index entered the technical bear market.

　　Yang Delong, chief economist of Qianhai Open Source Fund, pointed out that US stocks will fall sharply after peaking. According to the experience of US stocks, a decline of 20% is generally called the dividing line between bulls and bears. If it falls below 20% and does not come back, it shows that the bear trend is confirmed and will fall further by 20%.

　　Xie Feng, a researcher at China Banking Research Institute, believes that the debt level of American enterprises is high, and the debt quality of residents has deteriorated. Once the economic slowdown exceeds expectations, corporate profits will further decline, and residents’ wealth will also be damaged, which may lead to more risk release in the financial market.

　　A-share major stock indexes closed on the 9th.

　　— — Can China A-shares be immune?

　　On the 9th, among the world’s important stock indexes, the overall decline of A shares was lower. The Shanghai Composite Index fell 3.01%, the Shenzhen Composite Index fell 4.09%, and the Growth Enterprise Market Index fell 4.55%. In the whole day, the transaction between the two cities broke through one trillion yuan. The net outflow of northbound funds from Shanghai Stock Connect was 9.671 billion, and that from Shenzhen Stock Connect was 4.648 billion.

　　Chen Li, chief economist of soochow securities, said in an interview with the media that the main reason for the A-share slump on the 9th was the violent fluctuation of the global capital market, and the violent fluctuation of the external market aroused the concern of domestic investors. The turnover of the two cities has continuously exceeded one trillion, indicating that there are great differences in funds. Some funds are leaving the market, and some funds are considered to be opportunities to buy on dips.

　　It is noteworthy that on the 9th, the FTSE China A50 index futures, as the leading indicator of the secondary market of the stock market, rebounded and turned red at night, and now rose by more than 1%. At one time, it was close to 2% in intraday trading, and once fell by more than 1%.

　　"The fundamental reason for the sharp decline of US stocks is that the valuation is too expensive." Everbright Securities believes that A shares are more immune to overseas fluctuations. Under the analytical framework of the policy economic cycle, it is not only economic data but also policy tightness that determines the market trend. Oil prices fell sharply beyond expectations, reducing the risk of stagflation in the near future and broadening the space for domestic policy easing.

　　Great Wall Securities believes that in the context of global risk assets being sold by funds, the short-term growth of the A-share market is facing emotional selling pressure. In the medium term, China’s securities market shows very obvious value toughness under the background of global general decline, and RMB assets are expected to become a safe haven favored by global funds. (End)

Real estate is too profitable, so Gree never touches real estate. Because it is too easy to make money, no one wants to engage in manufacturing, thus losing the spirit of challenge. I have always thought that corporate profits are inevitable, but they are not the purpose. So even if we lose money, we will continue to do manufacturing. -Dong Mingzhu

Dong Mingzhu has an enigmatic insistence on manufacturing. On Gree’s official website, the slogan "Let the world fall in love with Made in China" is impressively written.

During the years when Dong Mingzhu took the helm of Gree, Gree gradually emerged. As one of the best manufacturing enterprises in China, Gree has been practicing the power of science and technology with quality.

Although the cross-border of Gree has not been successful in recent years, as one of the most generous companies, Gree has created the greatest benefits for shareholders.

In 2016, Dong Mingzhu decided to enter the automotive field, as the world’s largest outlet. Later, the popularity of Tesla also proved Dong Mingzhu’s foresight.

What Dong Mingzhu didn’t expect was that Gree Electric’s proposal to buy Zhuhai Yinlong was rejected by a group of small and medium-sized shareholders. In order to cut into the field of car manufacturing, Dong Mingzhu paid 1 billion yuan, and then Wang Jianlin and Liu Qiangdong jointly invested 3 billion yuan to acquire 22.388% of Zhuhai Yinlong’s equity. Later, she personally increased her shareholding all the way to 17.46%.

However, Dong Mingzhu’s luck is really bad. With the decline of subsidies for new energy vehicles and the contradiction with Wei Yincang, the founder of Zhuhai Yinlong, this enterprise gradually lost its "voice" in the market.

Since July last year, Yinlong’s equity auction has been going on, and the unit price of equity has also dropped from 35 yuan/share, but there are still very few people concerned.

On the evening of August 31st, an announcement in Gree Electric brought Zhuhai Yinlong back to the stage. Gree said that the company acquired a 30.47% stake in Zhuhai Yinlong at a price of 1.828 billion through public bidding through judicial auction. At the same time, Dong Mingzhu also entrusted Gree with the voting rights corresponding to his 17.46% equity.

After the completion of this transaction, Gree Electric will become the controlling shareholder of Zhuhai Yinlong.

According to the contents of Gree’s announcement, Gree Electric held a seven-member board of directors chaired by Dong Mingzhu on August 30th, and all the other six directors agreed to the above transactions except Dong Mingzhu who abstained from voting because of related party transactions.

And the transaction does not constitute a major asset restructuring, so it does not need to be submitted to the shareholders’ meeting for consideration.

Regarding the acquisition, Gree Electric said in the announcement that in order to actively respond to the national "double carbon" goal and related policies, we should accelerate the diversified development.

In fact, Gree has been trying to diversify in recent years, but it has not been very successful. In addition to the mobile phone business, the pressure on new energy projects is also relatively large. However, in recent years, the fire of new energy has driven the whole industrial chain, and the energy storage-related sectors are also a development direction in the future.

Therefore, I think that after Gree holds Yinlong, Yinlong will have three development directions in the future:

First, get rid of the baggage and start again. In the past two years, Yinlong has been listed as an executor for many times, and it has been executed for six times in the first half of this year. The latest execution target is about 240 million yuan. At present, the company has no property available for execution;

Second, get "blood transfusion" and increase production capacity. In the past two years, due to the reconstruction of the value of the new energy vehicle industry, Weilai Automobile and Xpeng Motors have achieved good results in the capital market. If Yinlong can increase production capacity and complete the upgrade, it is not counted that the current price wins the controlling stake of Yinlong;

Third, strengthen the cooperative relationship between Gree and Yinlong, for example, equip Yinlong new energy vehicles with Gree air conditioners, and take the opportunity to open the car air conditioning market. At present, air conditioning is still Gree’s main income, accounting for more than 70% of its revenue. As long as Gree can take the opportunity to open up new markets, then the acquisition is successful.

On the whole, Yinlong has reached an important juncture. If Gree does not help, the road of Yinlong will become more and more difficult. After Gree enters the market, its dream of new energy may be "rekindled".

Zhiyi automobile/Xiaofan

A few days ago, Zhifu Automobile learned from Geely official that the 2025 Geely Xingyue L officially opened for pre-sale, and the new car was named Xingyue L Dongfang Yao, and two models with Lanxing and Wangyue were launched, with the pre-sale price range of 170,000-180,000 yuan. At the same time, the new car is planned to be officially launched on October 23rd, and its competitors are also locked into Changan CS75 PLUS, Honda CR-V and other models. With reference to the current Geely Xingyue L, the price range is 137,200-185,200 yuan.

In terms of appearance, according to the exposed pictures, the 2025 Geely Xingyue L continues the design language of the current model as a whole. The front face will also be replaced with a large-size "straight waterfall" grille design, with a brand-new silver brand LOGO running through it, and with matrix headlights on both sides, its actual effect is also more prominent. At the same time, the new car will also make some adjustments for the lower enclosure, plus the diversion grooves on both sides, which will also create a good sports atmosphere.

On the side of the car body, the whole car has not changed much. Two sultry waistlines run from the front of the car to the rear of the car, and with the design of new dense spoke wheels, it also gives people a strong sense of movement. At the same time, the new car still adopts the design of traditional door handles, which will be more in line with consumers’ car habits compared with mainstream models. In terms of size, the length, width and height of the new car are 4770/1895/1689mm and the wheelbase is 2845 mm.

In terms of tail, the new car will still adopt the design of penetrating taillights, and the interior will be blackened. It is expected that the visual recognition will be more prominent after lighting. At the same time, a new green paint will be added to the new car, which will better meet the diversified car demand of young consumers.

As for the interior, the new car will add a white interior to choose from. You know, the current white interior is deeply loved by consumers. At the same time, the center console of the new car will also be integrated with 12.3-inch LCD instrument +12.3-inch central control screen+co-driver entertainment screen. With the three-position multi-function steering wheel, the overall feeling is also full of science and technology. Moreover, the new car will continue to use the Galaxy OS system and will not upgrade Meizu FlymeAuto. In terms of configuration, compared with the old models, the new car will also come standard with functions such as seat massage, headrest audio and two rows of electric seats, which can basically meet the needs of most consumers.

In terms of power, the new car will also be built based on the CMA architecture platform, and will continue to be equipped with a 2.0T+8AT powertrain, and still provide two-wheel drive and four-wheel drive models, with a maximum power of 175kW and a peak torque of 350 N m. In terms of suspension, the new car will also be equipped with CDC variable damping suspension, which can show a relatively stable body posture even when dealing with some complicated road conditions.

In terms of price, the pre-sale price range of new cars is 170,000-180,000 yuan. As for the final pricing of the new car after listing? It also deserves our common concern. What do you think of this? Welcome everyone to leave a message below to discuss.

The original article of Zhiyou Automobile, please contact us if you need to reprint it.

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1. The oil price will be lowered tonight.

At 24: 00 on October 10, a new round of price adjustment window for domestic refined oil products will open. No.92 gasoline is expected to be lowered by 0.06 yuan/liter on average, No.95 gasoline is expected to be lowered by 0.07 yuan/liter on average, and No.0 diesel is expected to be lowered by 0.07 yuan/liter on average. Since the beginning of this year, oil prices have been adjusted 19 times, including 10 upward adjustments, 6 downward adjustments and 3 stranding. Tonight’s price adjustment will be the 20th oil price adjustment this year. (The Paper)

2. The spokesman of the Ministry of Foreign Affairs responded to the Ren’ai Reef issue again.

Recently, a series of actions taken by the Philippines in Ren’ai Reef have seriously violated China’s territorial sovereignty, and China has repeatedly made solemn representations to the Philippines. The Ministry of Foreign Affairs responded by reiterating five points: First, Ren’ai Reef has always been the territory of China. 2. Ren’ai Reef has never been a Philippine territory. 3. The so-called award in the South China Sea arbitration case is illegal and invalid. 4. The Philippine warship "sitting on the beach" in Ren’ai Reef seriously violated China’s territorial sovereignty. 5. The responsibility for the current maritime situation lies entirely with the Philippines. (official website, Ministry of Foreign Affairs)

3. NVIDIA cancels the AI Summit.

Worried about the security situation in Israel, technology giant NVIDIA will cancel the offline meeting of the annual artificial intelligence (AI) summit scheduled to be held in Tel Aviv, Israel on October 15th and 16th. According to the original plan, NVIDIA will show its latest progress in the field of artificial intelligence at the Artificial Intelligence Summit, and Huang Renxun, CEO of NVIDIA, will deliver a keynote speech. (Cailian)

4. The United States agreed to import American semiconductor equipment to Samsung and SK factories in China.

According to Yonhap News Agency, the US government agreed that Samsung Electronics and SK Hynix should import American semiconductor equipment in their factories in China without other licenses, which is equivalent to indefinitely extending the exemptions previously obtained by these two companies. Samsung Electronics produces NAND flash memory chips in Xi ‘an, China, SK Hynix produces DRAM memory in Wuxi factory and NAND chips in Dalian. Both companies have invested billions of dollars. (Observer Network)

5. The Ministry of Transport issued the Technical Guide for Supporting Autopilot in Highway Engineering Facilities.

The Ministry of Transport issued the Technical Guide for Supporting Autopilot in Highway Engineering (full name "Technical Guide for Supporting Autopilot in Highway Engineering Facilities") as the recommended industry standard for highway engineering, which will take effect on December 1, 2023.

According to the interpretation of the Highway Bureau, the emergence of autonomous driving technology provides a new idea and technical path for the realization of this goal. With the help of automatic driving and assisted driving technology, some safety problems caused by people’s fatigue and inattention can be alleviated or avoided, and the running speed can be improved, congestion can be reduced, and the running efficiency of highway facilities can be improved, which has certain practical value. (Ministry of Transport)

6. Ministry of Industry and Information TechnologyData calculation: the scale of computing power will increase by over 66% in 2025.

On October 9, the Ministry of Industry and Information Technology, the Central Network Information Office, the Ministry of Education, the Health and Health Commission, the Central Bank and the State-owned Assets Supervision and Administration Commission jointly issued the Action Plan for High-quality Development of Computing Infrastructure, which set development goals in terms of computing power, network carrying capacity, storage capacity and upper application scenarios. According to the data of the Ministry of Industry and Information Technology, the scale of computing power in China increased by more than 66% from 2023 to 2025, of which the scale of intelligent computing increased by more than 155% (Caixin.com).

7. The 2023 Nobel Prize in Economics was announced.

The winner of the Nobel Prize in Economics was announced. Claudia Goldin, an economist at Harvard University, won this award in recognition of her research on promoting the understanding of women’s labor market results. (Cailian)

8. Wenxin Big Model 4.0 will be released soon.

Baidu is stepping up the training of Wenxin Big Model 4.0, which is expected to be released at the Baidu World Congress on October 17th. This will be another heavyweight version after Wenxin Big Model 3.5. According to the news, Wenxin Big Model 4.0 is progressing much faster than expected, which will be a big upgrade of the basic model, and the core abilities of understanding, generation, logic and memory will be improved, especially in logical reasoning, code and mathematics. (First Electric)

9. The first hydrogen-powered train in the Middle East will be put into trial operation.

The first hydrogen-powered train in the Middle East will start trial operation in Saudi Arabia this week, and it is expected to run for several months. Saudi Railways will conduct experiments and research on this trial operation together with Alstom, a French railway transportation giant.(First Electric)

10. Haoplatinum SSR is on sale.The price is 1.286 million.

The new car is driven by pure electric power, with a maximum power of 1,225 HP and a maximum torque of 12,000 Nm. The acceleration time of 0-100km/h is only 1.9 seconds. The official guide price is announced, and there are three versions in total. There are 1.286 million SSR, 1.386 million speed version and 1.686 million track version. (First Electric)

11. Aouita gradually opened the NCA without a map.

On October 9th, Aouita will gradually open the NCA, and will complete the delivery according to the schedule of "6 cities -16 cities-the whole country". The first batch of 6 cities are Beijing, Shanghai, Guangzhou, Chongqing, Shenzhen and Hangzhou. By the end of 2023, the intelligent driving function of high-speed, urban area and parking will be more smoothly combined nationwide. It is reported that compared with the existing intelligent driving, the intelligent driving experience of NCA without map is better, and it is not necessary to choose a human driving/intelligent driving route, choose a good destination, operate with one button, switch without feeling, open with or without network, and complex road conditions are not degraded. (First Electric)

12. Weilai achieved 30 million power exchanges.

The first in the industry!Weilai Automobile has reached 30 million power exchange services. According to the data, as of the 6th of this month, Weilai has built 1,937 power exchange stations, including 572 expressways, which have opened the high-speed power exchange network of 6 vertical, 4 horizontal and 8 urban agglomerations. The completed high-speed power exchange network will continue to be encrypted in the future.(First Electric)

13. GAC’s sales of new energy vehicles in September increased by over 70% year-on-year.

In September, the automobile sales volume was about 243,600 vehicles, up 2.71% year-on-year, and the cumulative sales volume this year was about 1,794,300 vehicles. Among them, the sales volume of new energy vehicles in September was about 58,000, up 70.36% year-on-year, and the cumulative sales volume during the year was about 393,900, up 92.27% year-on-year.(First Electric)

14. Newton Group suspended its capital injection into Evergrande.

Due to the recent changes in Evergrande Group,Known as "the first new energy vehicle in UAE"Newton Group suspended the second and third payments to Evergrande.Previously, Evergrande announced that it had won the first strategic investment of $500 million from Newton Group. By the end of the first half of the year, Evergrande had total assets of 42.852 billion yuan and total liabilities of 75.992 billion yuan. (First Electric)

15. The largest integrated Tesla Center in China settled in Shanghai.

Tesla Corporation and New Development Company, a subsidiary of Waigaoqiao Group, have officially signed a property lease contract, and will set up Tesla Center in Xin Park, a new exhibition city. The new exhibition city Tesla Center has a building area of over 8,000 square meters, which integrates the functions of all the models on sale, test drive and after-sales maintenance. It is the largest integrated Tesla Center in China at present. It is reported that Tesla Center, a new exhibition city, is located at No.777, Jujin Road, Pudong New Area, adjacent to Porsche China College and the flagship store in China, Sam, and is scheduled to officially open in mid-2024. (WeChat official account, Window of Waigaoqiao)

16. Musk believes that China car companies are the most competitive.

Last night, Twitter blogger Whole Mars Catalog published a global ranking of electric vehicle sales published by statistical website CleanTechnica, with an article saying that "there are no traditional car companies in the top ten". Musk replied in the comment area, "According to our experience, China car companies are the most competitive.Force. "(First Electric)

17. Li Fenggang took over as Executive Deputy General Manager of FAW Audi.

On October 8th, FAW-Volkswagen announced that Li Fenggang would succeed Sun Huibin as the executive deputy general manager of FAW-Audi Sales Co., Ltd. from now on, and be fully responsible for the sales, after-sales service, network and brand marketing of all domestic and imported FAW-Audi cars in China. Sun Huibin will be transferred to China FAW Strategy and Cooperation Department.(First Electric)

18. Zero-run cars were collectively complained by many car owners.

In September, the zero-run C11 super extended-range version was officially launched, which was only half a year before the C11 extended-range version was launched. The biggest change of the new super extended range model is to replace the criticized 1.2T three-cylinder range extender on the old model with a 1.5-liter four-cylinder range extender. However, the zero-running car has aroused a lot of complaints from the owners of the old models. The complaint reflected that the Zero Run car deliberately concealed the listing information of the modified models in order to clear up the inventory of the old models, which led to the price reduction of the old models just bought by 20,000 yuan and a sharp depreciation, which was a serious deception and an old owner in backstab. (First Electric)

19. PetroChina’s first super charging demonstration station was put into operation.

China Petroleum’s first "Super Charging+Convenience Store" comprehensive demonstration station was officially opened and put into operation on October 8th. It is reported that the station is located on the south side of the third street in Tianjin Development Zone, covering an area of more than 4,000 square meters and having more than 80 charging parking spaces. The total installed power capacity is 6,000 KVA, and a photovoltaic building integrated double-glass photovoltaic power generation module with a total installed capacity of 185kW is installed at the top of the parking shed. The daily power generation exceeds 400kWh, and the annual net power generation is 175,000 kWh. It is estimated that the annual carbon dioxide emission reduction will exceed 175 tons. Many of the charging piles are all liquid-cooled overcharged terminals of Huawei, with a maximum output power of 600kW and a maximum current of 600A, which can match all models. (First Electric)

20, ask the world M9 new color matching real car appeared.

A few days ago, some netizens exposed a group of photos of the real car of the M9. The new car was painted with a brand-new "azure blue" color scheme, which is the same as the main color of the M7. Moreover, the body is still designed with double colors. For this kind of large SUV, the painting with double colors can make the body look less bloated and significantly increase the luxury atmosphere of the vehicle.(First Electric)

21. Faraday will deliver FF9 to Jia Yueting in the future.

Faraday Future delivered FF 91 2.0 Futurist Alliance to Jia Yueting, founder and chief product and user ecologist of the company, at the Delivery Co-creation Day held at the company’s headquarters in Los Angeles today. (First Electric)

22. The official appearance map of LECK 06 PHEV was released.

Link Auto has released the official photo of the brand-new 06 EM-P, which is positioned as "New Urban Functional Super-electric SUV". The appearance of the new car follows the design style of Lectra 06, but the design of its front face has been adjusted. In order to further enhance its sports and cross-border atmosphere, the car that appeared this time adopted a paint similar to mint green tone. (First Electric)

23. BYD Dolphin Latin America Special Edition was released in Brazil.

On June 30th this year, BYD Dolphin was officially listed in the Brazilian market. Up to now, its sales volume has exceeded 5,000 in just over three months. In order to further expand overseas markets, BYD has launched two special models-BYD Dolphin PLUS and BYD Dolphin DIAMOND. The official price of BYD Dolphin PLUS version in Brazil market is 179,800 reais (about RMB255,000). The official price of the DIAMOND version of BYD Dolphin in Brazil is 149,800 reais (about RMB212,500). (First Electric)

24. Hechuang V09 will be listed on October 13th, with 320,000 pre-sales.

Hechuang V09, a medium and large pure electric MPV—— owned by Hechuang Automobile, will be officially launched on October 13th and will be delivered at the end of October. The new car has been pre-sold before, and five models have been launched, with a pre-sale range of 320,000-460,000 yuan. (First Electric)

25, Bao Junyue also "five-door version" listed next year.

Zhou Shuo, deputy general manager of SAIC-GM-Wuling Brand Division, said: "Five-door version of Baojun Yueye Plus" will be listed in the first quarter of next year. Zhou Shuo mentioned that the new car will continue the urban hard-core style and will bring very strong performance to consumers. (First Electric)

26, scientists find the root cause of lithium battery performance decline.

A recent study in the United States found that the so-called solid electrolyte interface (SEI), the fundamental reason for the performance decline of lithium batteries, is not an electronic insulator as previously thought, but behaves like a semiconductor. SEI acts like a guardian, allowing lithium ions to enter and exit the anode freely. At this point, the researchers concluded that minimizing the organic components in SEI will make the battery have a longer service life.(First Electric)

27. China’s new technology can warn lithium battery of thermal runaway.

Professor Sun Jinhua of China University of Science and Technology, the team of researchers Wang Qingsong and the team of Professor Guo Tuan of Jinan University have made important achievements in the field of optical fiber detection and early warning of thermal runaway of lithium-ion batteries. The team successfully developed a high-precision, multi-modal integrated optical fiber device that can be implanted in the battery, and took the lead in realizing accurate analysis and early warning of the whole process of thermal runaway of commercial lithium batteries. (First Electric)

28, sodium ion battery public comments.

Recently, China Chemical and Physical Power Industry Association issued a notice to publicize and solicit opinions on the group standard of "General Specification for Sodium Ion Batteries" on the Internet from October 8 to November 7.After the public consultation, the compilation team is expected to officially release this Code around November and begin to implement it.It is reported that the General Specification for Sodium Ion Batteries is applicable to sodium ion batteries and battery modules used in electric vehicles, light power and energy storage.(First Electric)