China Fund News reporter, Wu Yu

NIO, which went public last year, has not had a good time this year, especially in March.

At the beginning of the month, NIO released its first financial report since its listing, and the huge loss of up to 9.64 billion yuan made investors vote with their feet, and the stock price plummeted by more than 20%.

At the same time as the release of the financial report, NIO announced that it would suspend the self-built factory project in Jiading, Shanghai; subsequently, it was exposed that the number of deliveries was tricky, and the company was laying off a large number of employees and other negative news. Although NIO responded to this, in less than a month, NIO’s share price has nearly halved, and its market value has evaporated by 4.63 billion US dollars (about 10.36 billion yuan).

In addition, it has also been hit by Tesla’s price cuts and the opening of a factory in Shanghai.

Recently, NIO CEO Li Bin issued an internal letter acknowledging that NIO has experienced staff redundancy and will optimize the existing team by 3% in the first half of this year.

Losing nearly 10 billion a year!

NIO’s share price nearly halved

At the beginning of the month (after hours on March 5, Eastern Time), NIO released its first financial report since going public.

According to the financial report, in 2018, NIO is still in a huge loss, and the loss range is still expanding. According to the financial report, in 2018, NIO’s total revenue was 4.95 billion yuan, and the net loss was 9.64 billion yuan, an increase of 92% from 2017.

At the same time as the earnings release, it announced that it would suspend its self-built factory project in Jiading, Shanghai.

The reason behind NIO is explained as, on the one hand, the government’s approval and recognition of the "OEM" model in the new industrial investment management policy; secondly, from the perspective of investment efficiency, the existing partner production capacity can meet NIO’s product demand within 2 to 3 years. At the press conference, NIO said that the third car will also be expected to be produced in Jianghuai. In the release, Li Bin also said that based on the above strategy adjustment, NIO will have medium and long-term expenditure savings, which can make the company’s entire business cash flow richer.

Investors voted with their feet. After the company released its financial report, its share price plunged 21.16% on March 6, fell another 11.5% the next day, and then continued to decline. As of the evening of March 22, in 13 working days, NIO has fallen by 44.7%, the stock price has nearly halved, and the market value has evaporated by 4.63 billion US dollars (about 10.36 billion yuan).

Suspected by large-scale layoffs, sales fraud, etc

NIO says it’s a fabrication

The house leak happened to rain overnight. Subsequently, suspected NIO employees posted in Zhihu to expose NIO’s large-scale layoffs, sales fraud, and employee rebates.

An online user claiming to be a former NIO employee, "Paper Child", broke the news on Zhihu that NIO claimed that the delivery of 10,000 cars was the result of "self-directed and self-performed", and most of the 10,000 orders were purchased by NIO internal employees.

According to Paper Child, NIO introduced an internal policy whereby employees bought the ES8, a NIO production car, and the company leased the car back for 15,000 yuan a month for the first three years, for a total rent of 540,000 yuan for the three years. For employees, this is equivalent to the company giving themselves a free car, plus 80,000 yuan in cash.

"Paper Child" also broke the news that NIO is laying off a lot of staff, and pointed out that there is a problem with NIO’s credit review and car purchase process, and Chen Rui, the head of NIO’s financial department, is suspected of eating kickbacks.

At present, the leaks of "Paper Child" have been deleted on the grounds of "infringing on corporate interests".

On March 22, NIO officials issued a statement saying that the so-called "sales fraud" and "significant layoffs" were purely fabricated. The statement of NIO employees’ misconduct is purely subjective and lacks factual basis.

Regarding the above revelations, NIO said that as of the end of February 2019, NIO had delivered a total of 13,964 ES8s, of which only 2% were ES8s purchased by employees and shared with the company after purchase. At the same time, as a start-up, NIO has entered the stage of refined operation and systematic efficiency improvement, and will adjust its business structure and respond to the optimization of its personnel structure according to its development strategy. At the same time, it will continue to attract outstanding talents to join.

NIO said that the publisher’s statement about the misconduct of NIO employees is purely subjective and lacks factual basis. It strongly condemns such malicious slander of NIO employees. NIO reserves the right to pursue legal action against the publisher of the rumor if the employee involved in the rumor.

The following is the full text of NIO’s official statement:

However, netizens are still not convinced by NIO.

Tesla’s impact: price cuts + domestic production

As an electric vehicle manufacturer with a high-end market positioning, NIO is often benchmarked against Tesla. In recent days, Tesla has made frequent moves and launched a fierce attack on the Chinese market: the Shanghai Super Factory has been opened, Model 3 has been launched in the Chinese market, and major price cuts have become the focus of the market. Industry insiders believe that this will have an impact on domestic electric vehicle manufacturers.

In January 2019, Tesla’s Shanghai Super Factory broke ground and is expected to be completed and put into production by the end of this year. Elon Musk said that the factory is mainly used to produce Tesla Model 3 entry-level models, and will also take on the production capacity of Model Y and electric trucks in the future, so as to achieve local production in China.

On February 22, Tesla’s entry-level model Model 3 officially landed in the Chinese market. Then Tesla announced that the price of all models has been continuously reduced. Mainly looking at the Model 3, which is similar to the ES8 price range, the long-life rear-drive version of the Model 3 sold in China has dropped from 433,000 yuan to 407,000 yuan. The long-life four-wheel drive version has dropped from 499,000 yuan to 455,000 yuan. The long-life high-performance version has dropped from 550,000 yuan to 516,000 yuan.

This price range coincides with the ES8 and will also dilute some ES8 user requests.

However, in the face of Tesla’s drastic price cuts, Li Bin, founder and chairperson of NIO, said that NIO will not use price cuts to expand the market. "We have seen that our competitors have recently reduced prices several times. We think it may be the pressure of competition. In fact, continuously lowering prices is a great harm to the brand and consumer loyalty. In the long run, price cuts are not our strategy to expand the market. We will increase user loyalty and satisfaction through service innovation."

Li Xiang, CEO of Che Hejia, regards Tesla’s entry into China as a threat to the current domestic "vaunted" electric vehicle brand. Li Xiang bluntly stated that the cruising range of domestic electric vehicles is "false" propaganda, and also said that with Tesla’s domestic production, the domestic electric vehicle "good days will soon come to an end".

On March 15, Tesla held a new model Model Y conference, starting at only 260,000 yuan! By 2020, Tesla is about to achieve domestic production, and will sweep the Chinese electric vehicle market at a lower price. Many voices in the industry believe that for domestic cars, this is "wolf".

Li Bin acknowledges NIO staff redundancy

Will optimize to 3%

On March 22, Li Bin, founder, chairperson and CEO of NIO, issued an internal letter confirming the company’s goals and key actions for this year and the next three years. Li Bin said that the company has passed the team training stage and entered the second stage of qualification. The three highest priority work goals are: user satisfaction, improving operational efficiency, and developing the second-generation platform.

In his internal letter, Li Bin acknowledged that NIO has experienced some staff redundancy during its four years of rapid development, and said that in the first half of this year, the total number of people will be controlled within 9,500, which is 3% better than the current situation. In addition to staff redundancy, it is also necessary to improve the efficiency of budget and investment, which is reflected in the efficient use of already invested facilities, such as energy service networks, NIO centers, and test drives.

Li Bin mentioned that there have been many voices of skepticism about NIO recently, some of which are false rumors based entirely on speculation. "The world does not owe us an understanding. In today’s era where everyone can speak out, doubts and even rumors will be a reality we need to face on the way forward for a long time in the future. We need to be objective and calm about doubts and criticisms. If there are any, we will take necessary measures to correct them."

The following is the full text of Li Bin’s internal letter:

Dear colleagues,

At the annual meeting in January, I said that the company had passed the team training stage and entered the second stage, which is the qualification stage. In the next three years, we need to go all out to win the qualification to participate in the future competition. During the qualification stage, our top three priorities are: user satisfaction, improving operational efficiency, and developing the second-generation platform.

When the goal is clear, we need to focus on action. Just like our logo means, Vision, Action, with goals and actions, we can achieve the vision. Starting this year, we will implement the working method of VAU, which is the working method of "Vision Goal-Action-Upgrade".

Last weekend, the company’s management team held two days of intensive discussions to clarify the company’s goals and key actions for the year.

Goal 1: Complete the annual user relationship development plan

The user relationship development plan is relevant to everyone, not just the task on the UE side.

Action 1: Enhance user satisfaction

Satisfied users are the cornerstone of NIO. Delivering promised product functions and services on time, maintaining close and sincere communication with users, and solving problems in the process of car purchase and use from the user’s perspective are the awareness and ability that every colleague needs to have.

Action 2: Deliver ES6 on time and in quantity

ES6 is a strategic product for NIO and will enter a larger market segment. Mass production of ES6 is currently on schedule. Please work closely with engineering, software, supply chain, XPT, manufacturing, quality, service operations, and regional teams to ensure smooth delivery of high-quality ES6 starting in June and ensure that subsequent production deliveries can meet market demand in a timely manner.

Action 3: Take the initiative to communicate with the outside world, so that more people can understand the real NIO

Take the test drive as the core experience, let more people know about NIO products; take offline activities as the main scene, let more people accept the NIO brand. Please communicate with everyone who comes into contact with us based on the values of sincerity and care, and become a reliable friend of users.

Objective 2: Significantly improve operational efficiency

In the past four years, we have achieved a lot of achievements that we are proud of, seizing the fleeting time window to complete the first phase of the strategic goals, but also the organizational structure and operation management are not detailed enough. From this year, we will not only do a good job in strategic execution, but also significantly improve operational efficiency to ensure that the company can continue to grow.

Action 1: Organizational Efficiency Optimization

After four years of rapid development, we have established a global organization. After rapid development, there have also been some repetitive department settings, unclear work tasks, unclear responsibilities, and insufficient workload for some positions. These are the management efficiency optimization tasks that we need to solve this year. After completing the above work, the total number of people will be controlled within 9,500 in the first half of this year, which is about 3% better than the current situation.

We also need to strengthen collaboration and communication among various departments, and use VAU as a working method to ensure that departments work efficiently based on consensus.

Action 2: Increase the efficiency of the use of budgets and investments

We need to optimize the budget and usage rhythm of each project, and resolutely not spend unnecessary money to ensure the efficient use of funds. For changes to the project plan, we must communicate and inform relevant parties in a timely manner to avoid unnecessary waste of investment. For facilities that have already been invested, such as energy service networks, NIO centers, and test drives, we must ensure efficient use.

Action 3: Significantly increase gross margin

Gross profit margin enhances the long-term competitiveness of the company, and relevant colleagues need to have cost awareness based on systematic efficiency.

Objective 3: Complete the launch of the second-generation platform NP2

2019 is a crucial year for NP2, and the quality of our execution is directly related to the competitiveness of the "final stage".

Action 1: Formation of the definition and development plan for the second-generation platform and its first product.

Action 2: Complete the cooperation layout between autonomous driving technology and the supply chain.

Action 3: Establish a certain-scale autonomous driving test fleet.

The above are the main goals and action plans of the company this year. In the near future, each department head will formulate annual and quarterly target action plans based on this, and they will be improved and updated quarterly. VAU will become the main efficiency improvement method of NIO, and I encourage each colleague to improve their own work effectiveness accordingly.

Dear colleagues, there have been many voices of skepticism about NIO recently, some of which are false rumors based solely on speculation. The world does not owe us an understanding. In today’s era where everyone can speak out, doubts and even rumors will be a reality we need to face on the way forward for a long time to come. For doubts and criticisms, we need to treat them objectively and calmly, and if we do, we will take necessary measures to correct them. The most important thing is that we need to focus on goals and actions, and constantly improve ourselves with unremitting efforts. We must not only look up at the stars, but also be down-to-earth. Improving the efficiency of enterprise operations, optimizing personnel and business structure, working hard, and reasonably controlling the rhythm of Strategy and Development will be important themes in the next stage. We will use this to repay the trust and expectations of users, partners, investors and all friends who care about NIO.

All predictable difficulties are work tasks, and we continue to work hard!

　　Takeaway has long been integrated into people’s lives, but all kinds of illegal riding by takeaway brothers have also been criticized. Retrograde, running red lights, speeding and other behaviors have brought about continuous accidents. Recently, Meituan, an outsourcing company in Gaocheng District, Shijiazhuang City, re-signed the contract for dozens of takeaway brothers. In the eyes of most riders, this contract has many unreasonable points, and the riders have come forward to analyze the problems existing in the industry: some regulations make them lack safety protection, and some situations are helpless…

　　Text/Picture Yan Zhao Evening News reporter Nankai University Yu

　　[Event]

　　Signing a new contract, most delivery riders are not satisfied

　　On September 25, the company asked us to sign a new contract, but many of our riders thought that this contract was unreasonable and did not pay attention to the protection of the riders. But if we don’t sign the contract, we will be fired. Many riders have no choice but to sign the contract, but they are very dissatisfied and hope that the reporter will pay attention… "

　　During the National Day holiday, this newspaper’s 24-hour news hotline received a news tip. Through the phone, the reporter communicated with the lead person, Han Bing. He was a rider. During the period when the unit asked for a contract, he was recuperating due to an injury at work. As a result, on October 1, the rider, who had been working for more than a year, was directly cancelled by the company without knowing it.

　　What kind of new contract is it that causes the dissatisfaction of the delivery brothers? On October 8, the reporter came to the People’s Square of Gaocheng District as scheduled. When he heard that the reporter was coming, nearly 20 local Meituan delivery riders gathered at the scene. "We all want to reflect our views on the contract. Under such a contract, we run orders in the wind and rain, but we are very unsure and insecure." A rider said.

　　According to Han Bing, Meituan takeout in the central area of Gaocheng District was contracted to this outsourcing company. They had a total of 40 or 50 riders here, most of whom were full-time delivery guys, and there were also a few part-time workers. In late September, the company came up with a contract and asked all riders to sign it as soon as possible, but everyone had opinions on several items of the contract, but if they didn’t sign it, the result was dismissal.

　　First of all, everyone has an opinion on the paragraph at the beginning of this labor contract. In the contract, the company is Party A, and the delivery brother is Party B. It states that "both parties A and B have reached an equal agreement and voluntarily sign this labor contract, and jointly abide by the terms listed." Mr. Rider Wu said that before the contract was sent to everyone, no one knew about it, let alone the contents of the contract, let alone equal consensus. If you don’t sign it, you will be fired, so in order to make a living, everyone has no choice but to sign it.

　　Secondly, the contract requires a lot of riders. In terms of the duration of the labor contract, although it is signed for 6 months, the contract states: "Party A can terminate the labor relationship with Party B in advance according to business needs and Party B’s performance." Some riders said bluntly: "What is the difference between signing such a contract and not signing it? The company can terminate the labor relationship at any time according to the situation, so what guarantee do we have?"

　　The contract also includes the following clause: "Party A will insure Party B with employer liability insurance and commercial insurance during the contract period." It seems to protect the riders’ rights and interests, but the riders said that the company deducts 45 yuan per month from their wages, saying that the unit will pay another part of the money, and then buy insurance for everyone. But the riders said that they still do not know what insurance is on, and have never seen an insurance contract, let alone signed an insurance contract.

　　[Helpless]

　　The injury has not healed, and some rider accounts have been cancelled by the company

　　The terms of the contract made many riders feel insecure, but the company kept urging everyone to sign, but most of them signed. But Han Bing and the other two riders had their rider accounts cancelled because they didn’t sign, so they couldn’t take orders and were fired by the company.

　　The accounts of the riders were cancelled by Han Bing and Mr. Hou, but Han Bing fell to avoid other trams at the start of construction in early September, and his left hand was pressed on the broken glass on the ground and sewed. During this time, Han Bing has been recuperating and recovering. "On October 1, I went to a meeting as usual and learned about the signing of the contract. At that time, I told the unit that my hand still needs to be raised for two days. I will take the contract back to take a look first, and bring the contract back after signing it. Who knew that after finishing in the morning, I found that my account was cancelled by the unit in the evening." Han Bing said.

　　The same thing happened to Mr. Hou, a rider who was hospitalized with bronchitis. "I injured my foot in September, and then I was hospitalized due to bronchitis. I didn’t bother to sign the contract during my sick leave. It was also on October 1 that I found out that my account was cancelled by the unit." Mr. Hou said.

　　In addition, the rider Mr. Du’s account was also cancelled. He rushed to the company to sign a contract, and the unit restored his account that afternoon, which saved his job.

　　On the afternoon of the 8th, the company’s webmaster Liu said that the two were fired because they were not working for a long time. The fired rider Han Bing said that the next step will be to apply to the labor arbitration department for arbitration.

　　[Voice]

　　Many practitioners violate traffic laws and injuries are commonplace

　　The Internet is full of news of illegal riding by takeaway riders, and there are many cases of traffic accidents caused by takeaway brothers who rush to deliver meals. In order to strengthen the traffic management of electric vehicles in the express delivery industry, the Traffic Administration of the Ministry of Public Security held a video conference of the national public security traffic control department in March this year, and issued a proposal to express delivery industry organizations and enterprises to strengthen the traffic management of electric vehicles.

　　Traffic violations such as red light running, retrograde driving, and speeding are common and disrupt urban traffic order. In this contract, there are special clauses to bind the delivery brother. The contract states that "Party B must abide by various national traffic regulations, laws, and rules when providing labor services. If there is any violation, Party B will bear the corresponding responsibility. (Special prohibition: not wearing a helmet, working under the influence of alcohol, driving a motorcycle without a license, retrograde driving, running a red light, rushing, speeding, etc.) "

　　Regarding this clause, the takeaway brothers have the most words. When it comes to traffic violations, the takeaway brothers are very helpless. "This industry does not have many requirements for academic qualifications, as long as you are willing to work hard, you can earn 4,000 or 5,000 yuan a month, but we earn hard-earned money!" Many takeaway brothers said that it is common for practitioners to be injured in collisions, and some people have been in traffic accidents, but the degree of injuries varies.

　　[Depth]

　　Self-analysis: The work system makes us insecure

　　The rider Xiao Zhang had been working for more than a year, and he said that he had not only bumped into an electric car, but also hit a car for food delivery, and that time he lost 2,800 yuan. Xiao Hou had hurt his foot while delivering food, Xiao Du had recently injured his knees, Xiao Wu had just injured his leg in August, and Xiao Han had also injured his hand while recovering from a work injury due to dodging a tram…

　　During the conversation, the reporter noticed that these takeaway brothers were injured because of the fast speed of the car during the delivery or the illegal riding in order to take a shortcut. Why must the delivery of takeout be speeding, retrograde or even running a red light? According to these riders, they have to run 500 orders a month to get a basic salary, and they can get 4 yuan for each order. Generally speaking, from 11:00 to 2:00 pm every day, and from 5:00 pm to 9:00 pm are the takeout peak, but these two periods are also the traffic peak. There are many cars on the road, and the signal light time is longer. Moreover, the order is more concentrated. " Take noon as an example, we send orders electronically, and the positions of the orders sent are different. Some orders have to run more than 4 kilometers, and often three or four orders are sent at the same time. "Xiao Han said that the company stipulates that the delivery time is within 30 minutes. If three orders are sent at the same time, all three orders must be delivered within half an hour. The food is picked up at different locations, and some people have to wait for a while to arrive at the restaurant. The three orders plus the three orders must be completed within half an hour. If there is a customer complaint after the time limit, 500 yuan will be deducted if the complaint is successful, so the time is very tight, and we have no choice but to ride quickly. Wait for less red lights or take shortcuts on the road.

　　According to the riders, the company often let everyone solve the accident by themselves, and even pay for it themselves. Although there are many injuries, if you are not hospitalized, you will rarely get insurance compensation. "So we usually endure minor injuries." These delivery guys said that from 6:30 in the morning to midnight, they can be seen on the streets. Whether it is windy, rainy or snowy, they cannot ask for leave in special weather. On several rainy days this summer, the delivery guys walked through tens of centimeters of water in the street to deliver food in the rain. Afterwards, many delivery guys’ trams broke down and everyone had to repair them at their own expense. These riders hope to be understood by everyone, and they look forward to more perfect rules and regulations for the delivery industry, so that the industry can be healthy, standardized and sustainable.

　　[Autohome Connected Travel] When we play racing games, the suggested driving route is projected on the track in novice mode. Generally, following this route can pass each corner without rushing out of the track. Today, this "novice mode" is applied to navigation by Autonavi.

　　It has been less than a month since Autonavi announced a new version of the map that supports Carplay function. Autonavi maps and Ali Damo Academy have released car AR navigation. Do you still remember the real-life navigation of Roewe MARVEL X? Click for details "AR function introduction, experience MARVEL X driver assistance system", if you were still short of AR navigation with a MARVEL X before, then in 1 month, you will only be short of AR navigation with a rearview mirror.

What needs does AR navigation solve?

　　Whether it is the real navigation displayed from the dashboard of MARVEL X or the "product" brought by Autonavi this time, most people will think that AR navigation is very cool, so what needs can it actually solve? Installation B only accounts for a small part of the proportion, and its fundamental significance is to solve the "understanding cost" in the process of using navigation.

　　To achieve AR navigation functions, the hardware needs to have image acquisition (camera), positioning (GPS positioning, gyroscope, inertial navigation), image recognition (chip, algorithm), navigation (lane-level navigation, road and traffic data). The core technology of AR navigation, image recognition, is developed by Autonavi in collaboration with Aridama Academy.

　　For a typical example, when driving at high speed, there are often vehicles that suddenly slow down or stop at the exit, which often leads to rear-end collisions. The reason is mostly to miss the exit or not confirm whether the current exit should go out. The function of AR navigation is to help the driver get on the right path through the real-life guide.

What can the AR navigation released by Autonavi do?

　　In addition to the above functions, with the help of image recognition technology to detect the car in front, when the intersection lights switch and the car leaves, the navigation will give the driver a voice prompt.

Hardware Carrier for AR Navigation

　　At present, the AR car navigation functions brought by Autonavi are basically auxiliary navigation, with some pre-collision and lane departure prompts attached, which is generally more practical. But this set of AR navigation needs to rely on a set of hardware as a carrier to show these functions. Similar to the LCD dashboard, multimedia display, and HUD head-up system used by MARVEL X can all become AR navigation carriers, but these hardware need to rely on the entire vehicle manufacturer, so Autonavi chose a shortcut – smart rearview mirrors.

　　Don’t rush to scold the street! I know that most people are not optimistic about the product of smart rearview mirrors, but in Autonavi’s own words: we can’t take the PPT when we go to discuss cooperation with the OEM? In fact, smart rearview mirrors are hardware that integrates cameras, chip computing, and display screens and can be quickly landed. Low threshold is the biggest feature, so Autonavi chose the smart rearview mirror in cooperation with China Mobile to make this set of AR navigation "landing".

　　From the actual experience, there is no problem with the AR navigation function itself, and the auxiliary effect of combining voice broadcast on the driver is still very strong. But if you add the carrier – the smart rearview mirror, this feeling is a little sour. First of all, to use AR navigation, you must sacrifice the function of the inner rearview mirror itself, which is obviously not good for driving safety. Secondly, due to the problem of lens material, more serious reflective problems will also reduce the functionality of the AR navigation itself. In addition, the entire AR navigation is integrated in the small area of the inner rearview mirror, which greatly reduces the effect.

Write at the end:

　　It is understood that this smart rearview mirror that can use AR navigation will be in marketing activities in November, and more smart rearview mirrors will be equipped with this function thereafter. But in terms of experience, AR navigation presented on the central control screen and dashboard is the most anticipated. Of course, if it is not subject to configuration factors, HUD is the best choice. (Photo/Text Autohome Li Xiang)

Click here for details.

As early as February 2018, Hengda officially established Ruichi Intelligent Vehicle Co., Ltd., and in June of the same year also invested in Faraday Future to enter the car manufacturing industry. But now that three years have passed, it is time to build a Nezha, right?

After a series of warm-ups, Schr?dinger’s Hengda car has really moved. Just in early November, the Hengchi 5 LX suddenly appeared on MIIT’s latest public list. Good guy, I didn’t expect that I would be able to wait until the day of Hengda’s mass production!

So the question ****** Hengchi 5 really energy-efficient? Does anyone really buy it? In other words, can Hengchi become a life-saving straw for Hengda Group? Today we will uncover Hengda’s car-making mystery.

Blue is better than blue

We mentioned in the "Jia Yueting" program before that in 2018, Hengda, which was just about to enter the market for new energy vehicles, was shut down. Less than half a year after investing in FF, the two sides parted ways due to equity and capital conflicts. Although Boss Xu was not good at starting out, through this investment, Director Xu of the workshop still gained something – successfully learned secret techniques of Boss Jia’s PPT car making secret skills.

After the official announcement of the car, Evergrande opened the model of "buy buy buy, close, circle, big, good", which is truly breathtaking.

What is buy buy buy? No electric drive system? buy! No hub motor technology? buy! In short, in the eyes of Boss Xu, problems that can be solved with money are not problems.

What is Hehe? Boss Xu personally visited 23 countries and visited 58 leaders in the automotive field, from the top 500 to the studio. If you can’t buy it, you can cooperate!

As a result, Hengda Haotao 24.90 billion used for the acquisition and research and development of core technologies of new energy vehicles worldwide.

With the technology, what about the land? What about the factory? Continue to buy! Buy land to build a factory, this Evergrande is more skilled.

Therefore, Hengda spent 22.50 billion yuan for factory construction, equipment procurement, etc. Now the main factories are concentrated in Guangzhou Nansha, Shanghai and Tianjin. So far, including technology research and development, Hengda has invested nearly 50 billion yuan.

In contrast, NIO, which also burned money and 50 billion in the same period, has three models officially offline for delivery by the end of 2020, and has laid its own charging network across the country.

And what did Hengda bring until now? Hengchi 1, Hengchi 2, Hengchi 3, Hengchi 4, Hengchi 5, Hengchi 6, Hengchi 7, Hengchi 8, Hengchi 9… conceptual graph of nine cars?

And not only is there no production car, but even the two staff members of the exhibition car participating in the event can lift it.

Ah? It can’t be this, can it?

Of course, Evergrande is also a bit reliable, such as Hengchi 5’s "birth permit". Eh, it seems to be about to expire.

After investing so much money, did Hengda’s PPT model make money?

Did the PPT car make money?

If you want to know whether the Hengda PPT car manufacturing model is profitable or not, let’s look at it from two aspects.

Let’s look at the stock price first. At the beginning of this year, Hengda Motor Hong Kong’s highest offer was HK $72.45/share, and the market value once exceeded HK $500 billion, second only to BYD.

Looking at the annual report, the 2020 financial report shows that Hengda Automobile has earned nearly 15.50 billion yuan based on the conceptual graph of several models after experiencing the mode of buying, buying and combining.

Good guy, if this wait until the model is mass-produced, why don’t you punch Tesla? Kick BYD?

But upon closer inspection, I still noticed something fishy.

It can be noted that more than 98% of Hengda’s revenue in 2020 comes from Hengda’s healthy income, and the real new energy vehicle revenue is only less than 200 million yuan.

Health Valley tried its best, brothers, please put the public screen in tears.

What about the stock price?

After the continuous bombardment of various negative news such as model car doors and industry people’s disapproval, Xinhua News Agency’s naming of false high stock prices, Hengda Automobile’s stock price has plummeted, and the stock price has fallen from 72 Hong Kong dollars/share to now hovering at 3 Hong Kong dollars/share, and the total market value has shrunk to less than 40 billion.

From 18 to 21, Hengda Automobile seemed to have made money, but it didn’t seem to.

Although the past few years seem to have been a waste of time, Hengda Automobile has still not reached the point of exhaustion, and in today’s debt crisis of Hengda Group, Hengda Automobile has become a life-saving straw for Hengda Group. So can Hengda Automobile bring Hengda Group back to life?

Children from poor families take charge early

As of the first half of this year, Hengda Group has 1.97 trillion yuan in debt. The real estate bubble burst, and the wealth management products thundered.

But now, it was no longer appropriate to describe Evergrande Group as tearing down the east wall and making up the west wall. Originally, he wanted to sell Hengda properties and Hengda’s automobile business, but in the end, he contacted several buyers to no avail. Boss Xu simply gave up and dedicated himself to building a car!

Hey, wait a minute, doesn’t Evergrande still rely on Health Valley and the Evergrande Group behind it to barely survive? Why do you have to go out to work to subsidize your family now?

As a result, Hengda sold the electric system transmission company e-Traction and wheel hub motor manufacturing company Protean Electric, clearance Hengteng, two rights issues in November, financing 3.20 billion Hong Kong dollars, even the old real estate sales scale is also planned from 700 billion yuan, compressed to 200 billion yuan in ten years, all funds and manpower concentrated in Tianjin factory to ensure the production of Hengchi 5.

It can be seen that Hengda is really determined to bet on Hengchi!

But does Hengchi 5 have the ability to help Hengda turn around? Is Xu Jiayin really so confident in Hengchi’s future?

We asked Dapeng, who knows cars best, to tell us.

First of all, Heng Chi 5 positioning A-class SUV, pricing 200,000 yuan or less. Meaning that in this price range, Heng Chi 5 to face is BYD Song Pro, Weimar EX5, Xiaopeng G3 this level of opponents, in my opinion, whether it is appearance, configuration, or performance and battery life, Heng Chi 5 want to front the just mentioned several cars, there is still a certain degree of difficulty.

As for how much confidence Xu Jiayin has in Hengchi’s future?, this is up to you, I will test the automatic parking 50 times first.

Hurry up and test, the factory manager will be back from a business trip soon.

Cough cough, getting down to business, is Xu Jiayin really so confident in Hengchi’s future?

First of all, over the past 18 years, Hengda has indeed invested a lot in automobiles, but it is not difficult to see that Xu Jiayin intends to give up his car to maintain his position.

Secondly, the current concentration of resources to ensure the smooth commissioning of Hengchi, a large part of the reason is that the production qualification of pure electric vehicles owned by the Tianjin factory is about to expire. And if a model has not completed mass production and entered the market before the expiration date, this qualification will also disappear with the wind.

It seems that Xu Jiayin is also struggling to ride a tiger now. If he has confidence, he will do it, but if he has no confidence, he will do it.

However, it is also understandable. After all, for Evergrande, the best thing to do now is to create a production car while the production qualification is still there, and renew the production qualification. After that, when the opportunity is ripe, the production qualification will be packaged and sold directly with the automobile business. In case the sales of Hengchi 5 are good, you can also take the opportunity to raise the price and sell a good price to repay the group’s debt and renew its life, killing two birds with one stone.

Boss Xu’s wishful thinking is really good.

Manuscript | Cui Qiuyang, Yin Heyan

Editing | Yin Heyan

Dubbing | Ryosuke Takahashi

news recommendation

Suddenly in the early morning! 6.9 magnitude earthquake! Under the multi-party game

China Evergrande’s hearing has been postponed again

On December 4, according to Hong Kong media reports, the liquidation case of China Evergrande was tried again in the Hong Kong High Court today. After the petitioner and Evergrande exchanged and deliberated, the judge heard the arguments and postponed the liquidation hearing of China Evergrande again until January 29, 2024.

In fact, this is the seventh time that Hengda has been delayed by creditors. Industry insiders believe that this also reflects the cautious handling of the liquidation and bankruptcy of the largest real estate company in the Hong Kong capital markets by the Hong Kong judiciary.

On the morning of December 4, China Evergrande issued a clarification announcement saying that the company noticed that an institution published a report on December 1, 2023 that the company had never made a profit. The report has no actual basis, and the company will further clarify the content of the report later. Holders of the company’s securities and potential investors should exercise caution when buying and selling securities.

The move follows a report by GMT Research, a short-seller, that China Evergrande’s delayed 2021 annual report clearly reflects the company’s apparent overstatement of revenue and earnings, which is likely to continue for many years. Evergrande has either fundamental problems or has never made a profit.

Original title: "Evergrande Emergency Announcement!"

Read the original text

　

Text | Blue Hole Business, Yu Weilin

Editing | Giorgio Lisa

In just one month, rumors of "ByteDance acquiring Ele.me" broke out twice.

In the latest version, Caijing quoted sources as saying that not only did it state that ByteDance’s bid was $7 billion – one of the points of disagreement between the two sides, but also that ByteDance only wanted the delivery team of Ele.me, while Ali wanted the word energy saving to undertake the entire Ele.me.

Although soon, the rumors were once again confirmed by both sides, the outside world believed that the "Schr?dinger’s acquisition" was only a layer of window paper away from the ground – "denial" was just a prescribed action in the negotiations between the two sides.

In the past two years, the local life battlefield has seen renewed waves due to Douyin’s disruption, with the store business performing traffic magic, but the home business has experienced ups and downs. Douyin’s local life is still in a state of "running through the process".

The low-hanging fruit has been picked, and moving forward is a tough battle with real swords and real guns. Meituan spent tens of billions of yuan to build the performance ability, and if Douyin wants to replicate it, he needs to invest several times more time and money. Buying Ele.me is the most cost-effective way, and it is also in line with Zhang Yiming’s usual style of "vigorously performing miracles".

Five years ago, Ali bought Ele.me for $9.50 billion; in the past few years, the decline is not only valuation, but also market share. Now Ele.me is almost reduced to a regional player, takeaway is a low-margin business, and it is difficult to make profits without scale effects. If Ali wants to stop losses in time, Douyin is the only potential buyer on the table.

If Douyin wants to be a "universal entrance", it is impossible to give up local life. But the question is, even if he eats Ele.me and completes the closed loop of local life, can he win Meituan? What Douyin lacks in local life is only the ground delivery team? What Ali + Ele.me couldn’t do in the past, can it be done by Douyin + Ele.me?

Just as Yu Yongfu said in his internal letter in 2021: "This is a protracted battle, a boxing match that has just begun. The process is destined to be long and cruel. Neither side can defeat the opponent, but can only fight for points."

The Infinity War of local life, even if the acquisition is completed, is far from the end.

Douyin Local Life: Good Night Yet to Come

In the past two years of the Douyin Meituan dispute, the outside world’s attention has focused on how Meituan defends the city, but it has ignored that Douyin’s battle for local life has not gone smoothly as imagined, and the traffic stick has also encountered "hard bones".

"Changing coaches" is the most obvious signal. In November 2023, Douyin publicly admitted that Pu Yanzi, the head of commercialization, will also serve as the head of life services business, and Zhu Shiyu, the original head, will be transferred. Pu Yanzi’s internal evaluation is that his style is pragmatic and he is good at solving complex problems.

Industry analysts "Zouma Finance" interpret that the role of the commercialization leader in Douyin is similar to that of Alimama to Ali, and it is the existence of the "God of Wealth". Pu Yanzi, who is more "important", can not only mobilize the commercial traffic of Douyin, but also the commercial traffic resources of almost all traffic-type products such as Jinri Toutiao and Watermelon Video in Douyin – this is the highest configuration that Douyin can give.

Douyin’s local life is far from a "good night". They need more resources and more fierce leaders. The core incentive is the failure of takeaway.

In June last year, according to the "LatePost" report, Douyin takeaway’s annual GMV target was reduced from 100 billion yuan to 5 billion yuan, which came to an "ankle cut". At the same time, the focus of takeaway business changed to: try to run through business processes in more ways.

Half a year has passed, and according to a report by "Whip Bulls" at the end of December last year, Douyin life service partners in multiple regions revealed that Douyin will no longer renew their contracts with them. "Except for the five cities of Chengdu, Changsha, Shanghai, Shenzhen and Fuzhou, the Douyin takeaway business in other cities will be suspended." The purpose is to "penetrate the above five cities in order to obtain comprehensive and sufficient experience and lessons, and then promote the replication to other cities."

Since it was exposed in July 2021, Douyin has been running in the takeaway field for two and a half years, but it is still "running through the process".

The cost is undoubtedly huge. According to a report by Sohu News in March last year, Douyin’s boost to merchants in the pilot takeaway service was 5%, which was three percentage points lower than that of its peers. But Douyin’s traffic is expensive, and its investment in takeout should be higher than that of Meituan and Ele.me, including the costs of delivery and service providers.

This raises the suspicion that takeout is a low-margin chore, and if it is so difficult to move forward, why not give up? Because it does not want to watch consumers flee due to the lack of takeout.

According to a report by "LatePost" in February last year, Douyin Group CEO Zhang Nan once imagined at an internal meeting that Douyin would become a universal portal for users’ mobile devices, not only to swipe content when bored, but also to shop, choose restaurants, and buy plane tickets to book hotels.

This is Douyin’s ambition, and it is also the common dream of Internet giants. Today’s Capital Xu Xin once said in his early speech that there are actually only 12 apps commonly used by users, and apps that are opened more than 8 times a day are exclusive and monopolistic, and "flowers" can grow on them.

Therefore, for Douyin’s local life, it is necessary to close the loop between home and store, which is the answer that Meituan proved ten years ago.

As early as 2014, Wang Huiwen once answered the reporter "Why does Meituan want to do takeout?" He said, "Group buying and takeout, there must be a lot of overlap in the business. From the perspective of the merchant, we can bring it customer flow and transactions. Consumers group buying to the store, or ordering takeout to be delivered to consumers for transaction. Although they are two different transaction models, the merchants will not reject them."

The lack of Douyin takeaway links today is like the short board on the bucket. On the one hand, consumers who have settled through home group buying will flow to Meituan when they repurchase takeaway; on the other hand, the merchants who have made great efforts to attract them will only stay at the store level, and cannot reap the commission of takeaway business.

According to public information, Douyin’s GMV in 2022 is 77 billion yuan, while it has increased by 256% in 2023. It is estimated that the GMV completed in 2023 is about 197.12 billion yuan, exceeding the original target of 150 billion yuan. But if you can’t take takeaway business, how long can such high-speed growth be maintained is an unknown.

Since takeaway is a must, then the existing cooperation model is not good? Since August 2022, Douyin and Ele.me have cooperated, and Douyin has diverted traffic and Ele.me has fulfilled the contract, but both sides have different ideas, and they have not fully connected on the page jump. Douyin cannot obtain the core data assets, so he has more than two years of experience in "running through the process".

Douyin and Meituan are bound to have a head-to-head war, but Douyin looks at his hand and only has abundant traffic and funds, but lacks infrastructure, including systems, teams, and the Know-How capabilities that Meituan has accumulated for more than a decade.

And these, eat Eli.me can make up for it?

"Are you shaking?" Can you win Meituan?

Before Douyin’s disruption, the takeaway battlefield had long since died down. Meituan began to explore instant retail in search of incremental growth; Alibaba’s Ele.me system became infrastructure, focusing on stopping losses.

A set of data clearly illustrates the changes in Ele.me in Alibaba. According to third-party data agency trustdata, in 2020, Meituan and Ele.me’s market share was 60% and 25% respectively; by 2022, it had become 72% and 15%.

From Ele.me to "Shake it", how much can it shake Meituan? Let’s take a look at the fundamentals of the two companies first.

Look at the supply side first, there is the most intuitive data. According to the relevant report of Guolian Securities, the average daily active users of Meituan takeaway business version in October 2023 4.8861 million, and the average daily active users of Ele.me business version 2.6131 million, Meituan is almost 1.87 times that of Ele.me.

Looking at the demand side, according to Quset Mobile data, in October 2023, Ele.me APP DAU 2154.6 million, Meituan takeaway APP DAU 17.4993 million, Meituan APP DAU 144 million. You know, Meituan APP is the main position of all businesses. Combined with past financial reports, Meituan takeaway also leads Ele.me in terms of annual transaction users.

What about Ele.me + Douyin? According to the data report released by "Douyin Life Service Business Observation" on January 2, 2024, in 2023, Douyin Life Service stores will exceed 4.50 million. Even taking into account deduplicate factors, on the supply side, Douyin + Ele.me will still have a considerable base.

In addition, the addition of Ele.me may recoup Douyin’s disadvantage on the supply side of small and medium-sized merchants. "Blue Hole Business" once mentioned in the article "Meituan, Can Use Magic to Beat Magic" that the high cost makes it difficult for small and medium-sized merchants to survive in Douyin. "If you don’t buy advertising and don’t have traffic, you will have zero sales."

On the demand side, Douyin’s traffic magic and Ele.me’s home consumption mindset are expected to make up for their previous shortcomings.

Different from Meituan, benefiting from the acquisition and Ali system, a large proportion of Ele.me’s loyal customers come from 88VIP members, which is characterized by strong spending power. Double 11 in 2023, 88VIP user scale broke through 32 million, and transactions increased by double digits year-on-year. According to Ali’s financial report, the average annual consumption of this group in 2022 reached 57,000 yuan, and the demand-side customer unit price may be expected.

From the perspective of supply and demand, Ele.me has been ahead of Meituan, and it may have new vitality. But whether it can win or not, the performance side is more critical. What Douyin wants most is also the delivery team of Ele.me. Capacity is the "card point" that Douyin takeaway cannot push, and it is also the "east wind" that Douyin only owes for the development of instant retail.

According to Ele.me’s official website, Hummingbird, its delivery platform, has 3 million active riders, including full-time and crowdsourcing; but according to a report released by Meituan in 2022, Meituan has 6.24 million riders. In fact, in 2019, Ele.me has more than 3 million riders, and Meituan is 3.99 million. With Ele.me losing ground, riders naturally flow to Meituan, which has a more dominant order volume.

Of course, the fulfillment of contracts does not rely solely on offline capacity. Offline delivery and online fulfillment are two sides of the same coin. It is rumored that Douyin only needs "delivery staff" and does not need "programmers". Ele.me is currently the second largest takeaway in the market after Meituan, and its fulfillment system is the closest option to contend with it.

After it was merged into Alibaba that year, Ele.me’s hummingbird system was the first to be transformed. Alibaba’s expectation for hummingbird was to rely on the foundation of takeaway services and cooperate with Alibaba’s retail "three-kilometer ideal life circle", which meant that in the past few years, hummingbird and Hema, Tmall Hourly, and first-line brand instant delivery have a long match, and the handling situation is far more complicated than food delivery.

At the same time, Hummingbird’s intelligent scheduling system has been supported by Alibaba Cloud. Now AI has become one of the core directions of Ali’s development, and Hummingbird’s computing power and iteration speed have been enhanced. Because Hummingbird is deeply bound to Ali, it has also become one of the arguments that Alibaba will not give up Ele.me. easily.

But Ele.me in the Ali system can only be said to be self-improvement, and whether it can resist Meituan requires a question mark.

Takeaway fulfillment has the characteristics of "multi-concurrency" and "strong randomness", and a strong online fulfillment system can be regarded as Meituan’s "moat". As Wang Xing said in the first quarter of 2023 earnings report: "If the takeaway business wants to complete each transaction efficiently, it needs a reliable order fulfillment system. We have accumulated a deep foundation in the consumer, merchant, and distribution network of the takeaway business, and it is difficult for other players to break through."

Another factor that cannot be quantified, but can determine the course of the war, is methodology and organizational ability.

On the one hand, the Know-How capabilities and takeaway talents accumulated by Ele.me are equivalent to directly giving answers to Douyin, who has been "running through the process"; but on the other hand, with the invasion of organizational culture and the migration of management authority after Alibaba’s acquisition, Ele.me’s core management has gradually lost, and its playing style is also very different from that of Zhang Xuhao’s era. Ele.me, which pursues cost control, has gradually shrunk into a regional player.

In the two years after Alibaba acquired Ele.me, morale was booming. Wang Lei, the earliest head of Alibaba’s department, also stated internally, "It turned out that Ele.me played Meituan on the first floor and the second floor, but now we are standing on the sixth floor."

At that time, Wang Lei participated in Double 11 and Double 12 with his local life, interacted with Youku and Juhuasuan, and connected with Autonavi and Hema. But from the first quarter of 2019 to the second quarter of 2020, Ele.me’s market share did not rise but fell.

An industry insider told Blue Hole Business that during that time, he went on a business trip to Shunde, Guangdong. Ele.me increased subsidies and launched activities in the local area, hoping to gain momentum in several of Meituan’s advantageous cities, but the results came to nothing. [The business of local life is more complicated than imagined, and the success of one city may not be replicated in all cities.]

A Meituan person once recalled with "Blue Hole Business" that at that time, Meituan did not regard the other party as a competitor when competing with Ele.me. "Although Meituan gave less resources than the other party in each city, it always got good results in the end. There is indeed a methodology."

Frustrated by the competition, Alibaba began to adjust its thinking. In July 2021, Yu Yongfu, known as the "integration master", took over local life and proposed the so-called "541 formation" and "four vertical and four horizontal" playing methods, but this was an internal staff that also had some unclear theories.

Falling on Ele.me, the strategy focuses more on key cities, which is the so-called "efficiency first, then scale", emphasizing the strengthening of instant retail and distribution capabilities in terms of capabilities, and paying more attention to festival marketing in terms of tactics, such as the repeated mention of "guess the answer to win the free order".

The key data obtained from the above actions is that Ele.me’s unit economic benefits continue to be positive, and its losses have narrowed year by year. But takeaway is always a low-margin business, and if you want to make money, you still need to do it on a large scale. Ele.me’s long-term strategy is to stop bleeding for Ali, but it is the opposite for Ele.me itself.

The local life battlefield is far more complicated than imagined, and it is unknown whether Douyin can recover the share that Ele.me has lost in the past few years.

Although Meituan’s share price fell every time the acquisition scandal broke, it proved the outside world’s attitude towards the deal. But even if the acquisition is completed, it is only an escalation of the war situation, not an end.

　　Xinhuanet Guizhou Channel, April 17 (Reporter Li Zhongjiang) In the early morning of the 17th, a police officer in Guiyang City found suspicious characters during patrol and was attacked by gangsters during the investigation. The brave taxi driver and the police captured the gangsters together, and both were seriously injured.

　　At around 2:20 on April 17, 2009, Jiao Wenjun, a patrol police officer in Guiyang City, found three men riding a motorcycle acting suspiciously. Jiao Wenjun immediately conducted an investigation on him. Instead of stopping for investigation, the three people fled by car. Jiao Wenjun pursued the car and stopped it for investigation. During the investigation, the man who drove the car fled desperately. The other two men saw this and fled separately. Jiao Wenjun quickly controlled one of the suspects. At the same time, the patrol member Peng Guiping quickly pursued the other fleeing suspect.

　　At this moment, the suspect facing Jiao Wenjun took out a clip knife with a length of about 25 cm and stabbed at Jiao Wenjun, opening a 2 cm long hole above Jiao Wenjun’s left ear. Blood gushed out immediately, and Jiao Wenjun fought with the other party. The bus company taxi driver Zheng Hong and his friends jumped out of the car bravely and rushed towards the suspect with the knife. The police and taxi driver eventually captured the gangster.

　　After being introduced by the doctor: "The taxi driver was seriously injured, and the tendon button of the tiger’s mouth in his right hand was stabbed; Comrade Jiao Wenjun was stabbed on the left side of the head, but he was not stabbed in the temple in time because of avoidance, and his life was not in danger."

Editor in charge: Yan Bin

1905 movie network feature Gain insight into the film industry and embrace Chinese films. In 2023, "China Film Report" "Blue Feather Parlor" launched the two sessions to specially plan "Dialogue Spring", inviting representatives of ten film companies to jointly promise a beautiful vision for Chinese films to move forward in the wind. From welcoming spring to entering spring. Now, we once again start with the prosperous Spring Festival stall and join hands with filmmakers to dream of 2024, when Chinese films are blooming.

"China Film Report" "Blue Feather Parlor" 2024 Two Sessions specially planned – the eighth episode of "Dialogue Spring" entered Wanda Film. The whole industry chain layout and development, closer to the audience, listen to the audience’s voice to feed back creation. Tonight, the host of the movie channel, Lan Yu, talked to the chairperson and president of Wanda Film joint stock company, let the audience walk into the cinema, walk into the movie, and feel the charm of light and shadow making dreams.

Discover and cooperate with new directors to supplement industry talents

The new work "Flowers Bloom" will be turned on for the second time

In the past period of time, the filmmaker Chen Zhixi has completed a career change – from "tens of billions of beautiful women producers" to become the chairperson of Wanda Film, the head of a film company with a whole industry chain. Wanda Film has always had a special emotion for her.

Located in the central district of Beijing’s East Fourth Ring Road, Wanda Studios has hosted most movie premieres. The studio has accompanied the filmmaker’s growth. From the very beginning, "almost all the premieres of films I have produced and invested in in my career have been in this studio."

Chen Zhixi has participated in the creation of many directors’ first works in the past, from the director’s "Lost in Thailand", the director’s "Pancake Man", and later Jia Ling’s. For her, after taking over Wanda Film, she listed the project planning for the next three years. In addition to cooperating with mature directors, she hopes to accompany more young filmmakers.

Wanda Film launched the "Elite + Program" in 2017, dedicated to discovering and cultivating professional talents in the film and television industry, and fully promoting the upgrading of China’s film industry. So far, 11 directors have been signed, as well as hundreds of screenwriters. "I hope to use my experience of accompanying many directors in the creation of their first films to accompany more young directors, so as to fill the market with more good content."

From a pure producer to the current head of a film company, in Chen Zhixi’s view, "launching some new directors and screenwriters for the industry and replenishing industry talents is the most basic work I can do."

She hopes to summarize her past experience and explore and judge the possibility of directors in more dimensions, "such as the director’s values and field control ability, to judge what kind of works this director will present to the audience and the market in the future." Chen Zhixi hopes to help these directors choose the theme and genre that best suits their talents as their debut films, so that they can succeed quickly.

Looking back at Chen Zhixi’s creative resume, she accompanied Xu Zheng, Dapeng and other filmmakers to realize the transformation from actor to director. At that time, they were all in their thirties and full of infinite possibilities. Today, Chen Zhixi looks at the actors around the age of 30, "There are three people who are very promising. I am already chatting with them, helping them choose topics, and seeing if there is a chance to move from the front to the back in the future."

In addition to the newcomer power, Wanda Cinemas will continue to work with mature and experienced directors.

After collaborating with Jia Ling on "Hello, Li Huanying," the two will continue to work together on the new novel "Flowers Blossom." "Half of the film has been completed, and we will continue to shoot the other half." At present, the entire film crew is also choosing the time and shooting location, "I hope to finish the film and meet the audience as soon as possible."

The whole industry chain excavates the charm of light and shadow

Awaken the enthusiasm of young audiences to fall in love with cinemas

As a film company with a whole industry chain, Wanda Film continues from the creative end to the screening end, which also allows Chen Zhixi, the head of the company, to have more opportunities to enter the audience and communicate with the audience. "In the past, more of my work was to accompany the directors to make scripts, how to set the plate and code the box office. At the stage of promotion, the previous distribution was also dependent on the outside. Now, Wanda Film has its own screening hall, which can feed back our films through the studios of the entire theater chain."

At present, there are 916 Wanda Studios across the country, and among the top 100 theaters in the national box office during the Spring Festival, Wanda accounts for as many as 67.

Chen Zhixi said that in the future, Wanda Film will continue to strengthen the high standards and high platform of the entire Wanda Studios, "continue to improve our service awareness and service quality, and create a very good viewing environment for the audience."

She was also thinking about how she used to feel like walking into a movie theater was like Chinese New Year because of the aroma of popcorn, so how could she make today’s young people fall in love with movies?

Awakening the enthusiasm of young people and making them willing to go to the cinema to watch movies has become a topic she and Wanda Film are eager to solve.

We are willing to learn more about movies and the charm of light and shadow. "Chen Zhixi hopes that under the environment of Wanda Film, she can take the initiative to change some business conditions, so that the theater can have more life-like and richer scene simulations.

"For example, in’The Trilogy of Consecrated Gods’, the props are so beautiful and the costumes are so beautiful. But after the movie is filmed, the audience is far away from them. As the end point of the movie, can we really hold some Consecrated Gods props for the director? I think that by transporting all those exquisite props and costumes to the theater, the audience can reach a deeper dimension of understanding and love for the movie."

The possibility of exploring cinemas also affects creators’ development at the front end. Judging from the current situation of the Chinese film market, a large proportion depends on box office revenue, 8% relies on Internet copyright recycling, and a very small part relies on derivatives.

In Chen Zhixi’s opinion, derivatives may be one of the paths for the recovery of film revenue in the future. "We hope that the life cycle of movies will become longer, and there can be more series movies." In particular, Wanda Film is currently developing and creating animated films in the "Bao Gong" series, and plans to create a more complete derivative system. "Animated films have more advantages in derivatives."

The animated film planned for this year’s Qixi Festival will be one of Wanda Film’s summer publicity projects. After the accumulation of the past two works, the film "will definitely have a very good derivative performance, which will really make the audience and characters, and even the film have emotional communication and interaction."

　　The Beijing News (Reporter Liu Wei) After nine weeks of long selection, the final selection of "Through Spring Festival Gala" ended the night before, and finally Ping An, Xu Yina and Upsasa won. The three accepted the invitation letter from Havin, the general director of the 2013 year of the snake Spring Festival Gala.

　　safe and sound

　　The first one to get the ticket.

　　The popular contestant Ping An sang Sun Nan’s song "Pursuit" that night. As the original singer, Sun Nan affirmed Ping An’s singing, thinking that his chorus played very well, except for a small part in front. Next, Ping An played steadily, and in the final confrontation with another unbeaten Apsasa, there was a dramatic scene of 30 votes to 30 votes on the field. At the crucial moment, Ping An sang the English song "Without You", and three judges on the scene, Li Xincao, Sun Nan and Gao Xixi, all voted for Ping An, so Ping An became the first player in this field to board the 2013 Spring Festival Gala. Thank you for your support. "This made me understand that I should sing well in the future. As long as there is tomorrow, it is a new beginning."

　　Apsasa, a Dulong boy who won a high number of votes with the "Divine Comedy" that no one understood, kept the victory to the end like Ping An. He maintained his unique ethnic minority style, and performed magnificent songs such as "Oriental Grand Canyon".

　　Xu Yina

　　"Thank those who support me and those who criticize me."

　　Xu Yina, the "soprano queen", defeated many rivals with her Leng Yan appearance and high-pitched voice, and twice defeated Zhang Hexuan with high votes, which also pushed her to the forefront. Her performance in this selection was well received and finally knocked on the door of the 2013 Spring Festival Evening. At the press conference after the game, when someone questioned Xu Yina’s performance, she said, "I thank those who supported me and those who criticized me. I am grateful, and I hope to use time to prove everything."

　　Jinchi: "There are still many opportunities after this year’s failure"

　　■ beads

　　In the last night’s final, Jinchi’s defeat was also quite regrettable. In the first round, Jin Chi sang a song from her album many years ago, "Never Change". She felt that this song was the most in line with the current mood in that album. This song reminded her of the sad process of "grinding a sword for ten years". Past events such as losing her front teeth in a car accident and singing in a bar to pay off debts came to her mind, and Jin Chi burst into tears in the spotlight.

　　Director Ha Wen also supported Jinchi at the critical moment of the confrontation between Jinchi and Mujiangzi. "Her calm and comfortable state was born for this stage. I just expressed my personal preferences. I prefer Jinchi."

　　However, in the end, Jinchi was still slightly inferior in the competition with Apsasa, and Jinchi, who had a high voice, regretted leaving.

　　After leaving, Jin Chi still showed optimism and open-mindedness. "I have a very rare opportunity to stand on such a big stage. The Spring Festival Evening is not only this year, but there will be many opportunities after this year."

Continue reading »