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Tiggo 8 is an SUV with excellent design. Its front face has a fashionable shape, and the air intake grille is decorated with chrome, which makes the whole car look very delicate. The body lines are smooth and the overall style is fashionable, which is very in line with the aesthetic needs of modern consumers. In addition, the Tiggo 8 is equipped with some practical functions, such as LED headlights and LED daytime running lights, which improve driving safety and recognition. The side of the car body adopts streamlined design, which makes the whole car look more dynamic and improves aerodynamic performance. Overall, the design of Tiggo 8 is excellent, and it is a highly recommended SUV model.

Tiggo 8 is an SUV with dynamic appearance and fashionable shape. Its body size is 4700*1860*1746mm, wheelbase is 2710mm, front tread is 1582mm and rear tread is 1604 mm.. The lines on the side of the car are smooth and have a strong sense of lines, showing a sense of output and movement. The front and rear tyre size are both 235/55 R18, and the tire shape is fashionable and comfortable. The overall design is full of fashion and sports sense, and the interior space is spacious and comfortable, which provides a good ride experience for drivers and passengers.

The interior design of Tiggo 8 is simple and atmospheric, with a color scheme of black and beige, giving people a comfortable feeling. The steering wheel is made of leather, which feels comfortable and the position can be manually adjusted up and down and back and forth. The central control screen has a size of 10.25 inches and supports various functions, including multimedia and charging interfaces. There are 2 USB interfaces and 1 Type-C interface in the front row and 1 USB interface in the back row. The seat is made of imitation leather. The main seat can be adjusted back and forth, back and height (2-way), and the auxiliary seat can be adjusted back and forth. The front seats are also equipped with heating function, the backrest of the second row seats can be adjusted, and the rear seats can be laid down in proportion, which is very practical. Generally speaking, the interior design of Tiggo 8 is simple and practical, which meets the needs of modern people.

The Tiggo 8 is powered by a 1.5T 156 horsepower L4 engine with a maximum power of 115 kW and a maximum torque of 230n m.. This engine has excellent power performance, and with a 6-speed manual transmission, it can provide drivers with a smooth shifting experience. At the same time, the fuel economy of the engine is also excellent, saving fuel costs for users.

In the word-of-mouth evaluation of car home car owner @coiliaokai, we can see that he is very satisfied with the appearance of Tiggo 8. He mentioned that the front face is very domineering, the body lines are also very smooth, and the sense of strength is very strong. Every time you wash the car, you should look at it more. This fully demonstrates the outstanding performance of the Tiggo 8 in design, and also reflects the owner’s love for this model. In addition, the Tiggo 8 has also performed well in terms of power, comfort and cost performance, and has been recognized and praised by the majority of car owners. As car home car owner @coiliaokai said, "Beauty is in the eye of the beholder", Tiggo 8 has unique charm and attraction in the hearts of car owners. I believe that in the future, Tiggo 8 will continue to bring better driving experience and use experience to car owners and become a highly sought-after SUV model.

Hua xizi was attacked by traffic.　

On the live broadcast in Li Jiaqi, when consumers complained that a 79 yuan eyebrow pencil with Huaxizi was too expensive, Li Jiaqi did not introduce the quality of the product, but directly asked the consumers, "Has the salary increased? Have you worked hard? " In this sentence, Li Jiaqi and Hua Xizi were pushed to the forefront.　

Originally, everyone thought that Li Jiaqi was getting cold. To everyone’s surprise, Li Jiaqi didn’t get cold, and Huaxizi was miserable. When Li Jiaqi found out that he had said something wrong, he cried and apologized in the live broadcast room. After winning a great wave of sympathy, he immediately started to bring goods. On the hot search of public opinion on Li Jiaqi has also been divided into two factions, who believe that it is just a wrong sentence, and should not be harsh on Li Jiaqi. Moreover, 79 yuan’s eyebrow pencil is not expensive at all. While explaining to Li Jiaqi, these people are more supportive of Li Jiaqi.　

The other school thinks, isn’t it just an anchor with goods? When you’re full, you smash the pot? After making money from the poor, do you blame the poor for not working hard? These people, on the other hand, resolutely shed their powder and stopped shopping in the live broadcast room in Li Jiaqi. From the perspective of Internet public opinion, this incident has also pushed Li Jiaqi, which has been silent for a long time, to the top of traffic.　

This is just like Simba. Whenever there is a public opinion dispute, Simba can always turn decay into magic, making the iron powder loyal to him more iron, selling the goods at all and earning more. In the advertising circle, this is called exposure. As long as the exposure is large enough and how many people hate you, how many people will like you. When half the people in the whole network were cursing Li Jiaqi, the other half were shopping in the live broadcast room in Li Jiaqi.

According to the data, Li Jiaqi lost more than 1 million powder, but the live broadcast room sold better. Against the cusp of public opinion, Li Jiaqi continued to bring goods, and 50,000 single goods were robbed in only 3 seconds, which was impossible to buy at all. Commodities ranging from 10,000 to 20,000 are basically sold out in one second. This horrible ability to bring goods makes other anchors with goods far behind, which is far ahead.　

Those who scold Li Jiaqi and those who support Li Jiaqi are completely different groups. As the heat continues to rise, Li Jiaqi has lost millions of old powder, but it has also added a huge amount of new powder, and what remains is the hardcore fans of iron powder. For a super anchor, he is not afraid of controversy, and he is afraid that no one will pay attention. What really suffered from Waterloo was Hua Xizi, a domestic beauty brand deeply bound to Li Jiaqi.　

Hua Xizi was pulled out, just a Japanese product wearing a China brand coat. Hua Xizi’s brand is from China, but the foundry is Japanese. Even though China workers are employed, the foundry is set up in China, but it is actually run by Japanese. This makes many consumers spontaneously resist Hua Xizi.　

According to cicada mother’s data, Huaxizi’s sales in Tik Tok platform in August exceeded 100 million, ranking fourth among beauty and skin care brands. After entering September, the daily sales of Huaxi’s official flagship store is also about 1-2.5 million yuan. However, after the eyebrow pencil incident in Li Jiaqi, the daily sales of the official flagship store of Huaxizi plummeted by more than 90% to less than 100,000 yuan. But on September 7th, Hua Xizi’s sales in Tik Tok exceeded 10 million yuan a day. This kind of blow is not heavy.　

In fact, Hua Xizi is just a new brand of domestic beauty, which was established in 2017. Since its inception, it has been deeply bound with Li Jiaqi. How deep is this binding? In Li Jiaqi’s words: "Hua Xizi almost gave himself to me."　

In the beauty industry, marketing expenses have always been high. In other words, whoever can master the flow can take away the excess marketing expenses. According to public reports, Hua Xizi spends as much as 20 million yuan on marketing in the live broadcast room in Li Jiaqi every month. Hua Xizi almost bet his brand money on Li Jiaqi. Judging from the cooperation in the past five years, both sides are happy. Li Jiaqi made money, and Hua Xizi also exerted brand influence, ranking among the domestic beauty brands in China, and being able to stand on the same container as international beauty brands.　

You can succeed in Li Jiaqi and lose in Li Jiaqi. After the sales plummeted, Hua Xizi even published an outrageous "open letter".　

In this open letter, Hua Xizi didn’t mention eyebrow pencil or Li Jiaqi. On the contrary, in the letter, Hua Xizi also implanted his own brand vision: "promoting the beauty of the East and casting a century-old national makeup". Where is this to calm public opinion? This is clearly with the help of public opinion, and then give Hua Xizi a wave of free brand advertisements. Consumers did not see Hua Xizi’s sincerity, but saw Hua Xizi’s arrogance.　

The publication of this letter also made Hua Xizi’s public relations team resign collectively. Because public relations people don’t want to carry this pot and regard it as a shame in their careers, they just want to leave this wrong place and find the next owner quickly.　

Due to the collective resignation of public relations, Hua Xizi posted a new recruitment announcement, with an annual salary of 500,000-600,000, and a high salary for talents. It is worthy of being a domestic beauty head brand, and Hua Xizi is really willing to spend money. Whether Hua Xizi can reverse public opinion depends on whether there are great talents from heaven.

The captain agrees with Li Jiaqi: "It is not easy to make domestic brands." It’s not easy for Li Jiaqi or Hua Xizi, but those genuine domestic products that have been rooted in China for decades.　

Following the "explosion" conference at the end of March, Xiaomi Automobile ushered in a traffic feast. At 16: 00 on April 18th, Lei Jun started the live broadcast on time at Beijing Xiaomi Automobile Delivery Center.

This is the first time that Lei Jun started a live broadcast for Xiaomi Automobile. Three years ago, when Lei Jun premiered in Tik Tok, it was the tenth anniversary of Xiaomi. He took products such as "Biography of Xiaomi", "Walk the Line" and Xiaomi 10 Extreme Commemorative Edition, and at the same time, he had a heart-to-heart chat with rice noodle friends.

This live broadcast has its own traffic, and the number of viewers quickly exceeded 100,000+,and the number of likes quickly exceeded 100 million. At the beginning of the live broadcast, viewers also sent gift special effects to Lei Jun, and later the gift-giving function was quickly turned off.

"Lei Jun’s legs are quite thin." "Raytheon, I’m coming!" "I also want to take a photo with Lei Jun", "Did Lei always grab Huawei Pura 70" and other comments, constantly refreshing, verifying everyone’s intimacy with Lei Jun.

"It is too early to talk about the success of Xiaomi Automobile"

"Xiaomi Automobile has been released for 20 days, and it is too early to talk about success." Lei Jun said during the live broadcast that Xiaomi SU7 was so hot that I was afraid every day. Under the public beta, every detail was looked at with a magnifying glass. Now I’m a little more nervous, because Xiaomi SU7 has held on to "One Million People in YEATION".

"Of course, Xiaomi is now a success in the first stage. The cycle of building a car is particularly long, and we need to continue to do it seriously. " Lei Jun said.

Whether before or after the release, the popularity of Xiaomi SU7 has remained high, which is not a small order of magnitude higher than that of other car companies. The latest data obtained by the reporter was as of April 3, when Lei Jun, the founder of Xiaomi Group, announced at the first delivery ceremony of Xiaomi SU7 that the number of Xiaomi cars had exceeded 100,000, and the number of locks had exceeded 40,000. This is a burst in the context of particularly fierce market competition faced by cars with a price range of 215,900-299,900.

In the experience center, Lei Jun introduced in the live broadcast. On the whole, for Xiaomi SU7, the favorite color of girls is Xiaguang purple, and the favorite color of boys is elegant gray; Xiaomi believes that the most cracked color is lava orange. "For the question of what color to choose, listen to your wife." Lei Jun quipped.

"It’s not good to compare me with Musk."

Because there are few live broadcasts, there are still some areas to be improved, such as the occasional echo of the microphone.

However, the live broadcast as a whole continued Lei Jun’s consistent "customer thinking" and cordial style. For example, in the delivery center, Lei Jun had a cordial conversation with the owner’s children and asked where to go to school; Ask the female car owner why she chose Xiaguang Purple; Ask the doctor what major the car owner is studying; Take the initiative to invite customers to take photos and so on.

Why is the proportion of female owners of Xiaomi Automobile high? Lei Jun said that on the one hand, the company has many female engineers; On the other hand, basic functions such as sun protection, storage and good-looking directly hit the pain points of female customers; In addition, many female car owners have used Mijia eco-chain products before and know something about Xiaomi.

During the live broadcast, Lei Jun answered the question "Why did Xiaomi build a car in three years?". He explained that Xiaomi had accumulated the foundation of intelligent manufacturing in the past, and Xiaomi’s R&D budget this year was 24 billion yuan, so it took three years to build a car instead of just three years.

Consistent with expectations, Lei Jun once again introduced innovative technologies such as Xiaomi Super Die Casting in the live broadcast, and introduced that there are hundreds of robots in the factory. Lei Jun revealed that in the future, he plans to open the Xiaomi factory to ordinary citizens step by step.

For the long delivery time, Lei Jun responded that Xiaomi’s preparation should refresh various records of domestic cars. The company has achieved the release and delivery, and the delivery is the quantity. The core problem is that the sales volume is 3-5 times higher than the company expected. "The company held a supplier meeting a few days ago, and the company will improve delivery step by step as soon as possible."

In the live broadcast, Lei Jun also refuted the identity of "the first man in Shuangwen". He said, "I am at the bottom of my life, and there is no cold 4 billion in Cary", "I have never won the college entrance examination" and so on. Lei Jun said frankly, "Many people say that I am a billionaire, and I have never counted (my own assets). Success in life depends not on cool writing, but on dreams, struggle and help from noble people. "

When talking about the benchmark Musk, Lei Jun responded, "Musk is a great entrepreneur. What I do with him is not exactly the same, so it is not easy to compare. But we have all helped popularize science and technology and promoted social progress. "

"Traffic Times" of Car Factory

Lei Jun emphasized in the live broadcast that Xiaomi can’t be treated as a car factory, but the whole ecology of people and cars, and the core is a technology company. However, Lei Jun’s marketing strategy for Xiaomi Automobile is even more talked about by the market.

As of today’s live broadcast, Lei Jun Tik Tok has more than 17.9 million fans. On Weibo, there are more than 23 million fans, with an average of more than one Weibo a day, to protect the traffic.

Under the leadership of Lei Jun, Xiaomi, including Lu Weibing, Xu Fei and many other senior executives, have also launched short video and other platforms. These flows gathered together during the release of Xiaomi SU7, which together constituted the key boost for the realization of Xiaomi SU7 market.

This kind of "traffic marketing" has affected countless drivers in the car circle.

According to the public information, Yin Tongyue, the chairman of Chery, personally tested the long-distance, high-speed and high-order intelligent driving ability of Star Era ET; Wei Jianjun, Chairman of Great Wall Motor, opened his first personal live show, and showed the whole scene NOA； of Great Wall Motor without high-precision map. Xia Yiping, CEO of Extreme Yue, and Li Yanhong, CEO of Baidu, got on the bus and experienced the latest Extreme Yue 01 … These live broadcasts not only narrowed the distance between the car factory and the users, but also showed their product experience intuitively to the users.

Editor: Chen Lixiang

Proofreading: Liao Shengchao

A policeman in the Jingtan Township Dispatching Office plays games with his office computer (provided by the netizen "Emotional Boy")

　　　　On March 31, some netizens reported that a policeman from Jingtan Township, Tianmen City, Hubei Province played online games with his office computer and provided mobile phones to take pictures. On April 3, Tianmen City Public Security Bureau entrusted relevant departments to respond that the policeman Chen was testing the repaired computer. At present, Tianmen City Public Security Bureau has given Chen a informed criticism and deducted his post target management allowance for that month.

　　　　The netizen said that the picture was taken when he applied for the second-generation ID card at the police station, which he thought was very inappropriate. The reporter can clearly see from the picture that a man is playing Legend (an online game name) with all his heart on the computer.

　　　　On the afternoon of the same day, the reporter contacted the police station to inquire about related matters. An attendant surnamed Wang who answered the phone said that he was not very clear about this and should report to the leader for verification.

　　　　On the afternoon of April 3, Tianmen City Public Security Bureau entrusted relevant departments to send a "Verification Report on the Problem of Police Playing Games in the Household Registration Room during Working Hours in Jingtan Police Station" to Jingchu.com reporters.

　　　　According to the report, at 8 o’clock in the morning of February 25, 2009, an external computer in the duty room of Jingtan police station broke down, and the policeman Chen Moumou found someone to repair the computer. When the maintenance personnel repaired the computer, they opened the Legend game webpage and tried the game for a while to confirm that the computer was repaired. After the maintenance personnel left, when Chen got on the computer to check whether the computer was repaired, he found that the "Legend" game page was displayed on the computer screen, and he continued to play the game on the computer. He was seen by the people who came to work and took photos with his mobile phone. Because Chen did not understand the gameplay, he went offline after playing for three minutes.

　　　　According to the report, the police officer Chen played games on the Internet on the grounds of checking the computer during work, which violated the spirit of the Notice on Strengthening Housekeeping Management of Tianmen Public Security Bureau (2007) and related work disciplines. After research by the Party Committee of Tianmen Public Security Bureau, it was decided to treat Chen as a whole and deduct his post target management allowance for that month.

　　　　(Reporter Luo Nie)

Editor: Gao Song

　　In the center of the ancient canal south of Wuxi Wuqiao and at the mouth of Huishan Bangkou, there is an island, which the locals call Huangbudun.

　　As Kangxi, Qianlong and Wen Tianxiang all stayed here, the reputation of Huangbudun spread far and wide, and it can be called "Millennium online celebrity".

　　Today, the island is being repaired and is expected to be completed before the flood season in June.

　　Huangbudun has started a comprehensive repair.

　　At 10: 00 a.m. on March 14th, I took a boat from Canal Park Pier, and soon arrived at Huangbudun, an island in the middle of the river.

　　It is located in the northern section of Wuxi section of the Beijing-Hangzhou Grand Canal and has been a water hub since ancient times. Cargo ships are busy, sirens are blowing, and the Huangbu pier is also a busy scene.

　　Scaffolding has been set up around Huangbudun, and workers are working on it. The reporter was informed that Huangpudun, a cultural relics protection unit in Wuxi that has been in disrepair for a long time, has started a comprehensive repair and is expected to be completed before the flood season in June.

　　Huangbudun is surrounded by water and planted with weeping willows. The spring breeze blows, the willow shoots out, and the pier is lush.

　　"These willows will be preserved, and miscellaneous trees that are unsightly or affect the safety of the building will be cleaned up and treated as a sparse forest." Rong Kanghua, technical director of Huangpudun repair project, pointed to the willow tree in front of him.

　　He introduced that after on-the-spot measurement, Huangpudun is about 30 meters long from north to south and only 20 meters wide from east to west. It is not difficult to construct on this oval island with an area of less than one acre, and materials must be transported by ship. It is understood that the project began in January, mainly to upgrade and transform the building itself, to maintain the authenticity of its style, and to comprehensively improve the environment, greening and lighting at night.

　　The repair project of Huangbudun is undertaken by Wuxi Urban Construction Development Group Co., Ltd.. Zhang Guodong, deputy general manager of Urban Construction Development Group Urban Investment Company, told the reporter that it has been more than ten years since the last maintenance of Huangbudun, and it was not an overhaul before, but the wall was painted, and the current situation of the building is worrying.

　　After the field investigation by experts in water conservancy, cultural relics and gardens, it was found that the main reason for the damage of cultural relics buildings was that the floor inside the building was too low and the river was irrigated, which formed a basin-like effect.

　　Therefore, the key point of this renovation is to reinforce and maintain the revetment, and innovatively set up a mobile flood control wall around the pier. When the flood season comes, the flood control wall can be installed according to the change of water level, so as to improve the safety factor of the pier and ensure that the impact of high water level on Huangbu pier in flood season is minimized. When the flood season passes, the wall will be removed, which not only protects cultural relics, but also does not affect the viewing.

　　The Past Style and History of Huangbudun

　　Huangbu pier, also known as Xiaojinshan, is circular with an area of 220 square meters, and is built with stone revetment. One said that it was named after the site left by Chun Shenjun (Huang Xie) who once treated Furong Lake here; Another name is Song Huizong. Huang Xin, a native of Shanyin, Zhejiang Province, came to Wuxi to manage rice industry, set up rice mills, build stacks, and often berth grain boats beside piers.

Huangbudun in the 1920s and 1930s

　　Since ancient times, Huangbudun has been a scenic spot in the ancient canal. The temple on the pier was built in the Tang Dynasty and has experienced thousands of years of vicissitudes. Huangbudun was once known as ‘ Two Emperors (Emperor Kangxi and Qianlong of the Qing Dynasty), Two Emperors (Huang Xie of Chu and Wen Tianxiang, Prime Minister of Southern Song Dynasty) and One Clear Sky (& lsquo; Hai Qingtian ’ Hai Rui, a famous Ming dynasty minister, is famous for his boarding.

　　During the reign of Emperor Kangxi and Emperor Qianlong in the Qing Dynasty, he stayed in Huangpudun or stayed overnight. Emperor Kangxi inscribed the plaque "Lan Ruo", and Emperor Qianlong also wrote several poems, such as "The two rivers are surrounded by a continent, and the horses and chariots can only pass through the boat". During the reign of Emperor Kangxi and Emperor Qianlong in the Qing Dynasty, he stayed in Huangpudun or stayed overnight. Emperor Kangxi inscribed the plaque "Lan Ruo", and Emperor Qianlong also wrote several poems, such as "The two rivers are surrounded by a continent, and the horses and chariots can only pass through the boat".

　　In the 16th year of the Yuan Dynasty (1279), Wen Tianxiang, a national hero, was detained by the Yuan Army and passed by Wuxi in the north. He spent the night on the pier and wrote a poem "Crossing Wuxi". Poems are full of strong patriotism and national integrity. "Jinshan Ran Ran waves rain, tin water min min vegetation spring. Twenty years ago, I went to the road and walked three thousand miles away. The hero is not dead, but the father and the old are eager to meet. When I read about Cheng Ying’s keeping Zhao at night, I felt a towel once. "

Huangbudun after reconstruction in 1980s

　　Ming Wang Yongji’s "A Brief Introduction to the Scenery of Xishan" records that "Wenchang Pavilion, Huancui Building and Shuiyuexuan, which are old buildings, are shaded by weeping willows, so they are inseparable".

Fan of Wuxi Huangbudun Figure painted by Qian Songyan

　　In ancient times, Huangbu pier was known as "the flood can’t be drowned, and the water can’t be seen at the bottom". However, with the establishment of the flood control wall from Sanli Bridge to Wuqiao Bridge and the heightening of the ground, Huangbu Pier is no longer as high as before compared with the surrounding terrain. There were several floods in the 1990s, all of which flooded the piers and banks. On November 21, 1983, Wuxi Municipal People’s Government announced it as a municipal cultural relics protection unit.

　　For thousands of years, Huangbudun has been closely related to the ancient canal in Wuxi, and the story of Huangbudun has been handed down from generation to generation among the people in Wuxi. Yu Youman, an expert in local chronicles, said: "Using Huangpudun well will be a online celebrity punch point for the Grand Canal."

　　(Source: Comprehensive Wuxi Daily, Wuxi History)

On May 10th, 2023, LI announced its financial report for the first quarter of 2023. Despite the fact that the overall performance of China’s auto market is not as good as expected, LI’s quarterly revenue and delivery both hit record highs. Revenue in the first quarter was 18.79 billion yuan, up 96.5% year-on-year. In the same period, LI delivered a total of 52,584 new cars to users, up 65.8% year-on-year, achieving the single-season delivery *. Driven by strong delivery, LI ranked among the top three new energy brands in China in the first quarter, with a market share of about 11%, far exceeding other new power brands. Thanks to the unremitting pursuit of operating efficiency, a number of financial data hit record highs. After deducting equity incentives, operating profit and net profit reached 890 million yuan and 1.41 billion yuan respectively, and free cash flow reached 6.7 billion yuan. The gross profit margin remained stable at 20.4% in the first quarter. A healthy business model and sufficient cash reserves have laid a solid foundation for the long-term development of enterprises.

It is worth mentioning that LI has continuously strengthened its refined operation and promoted the continuous increase of delivery data from January to April 2023. By the end of last month, more than 330,000 home users had chosen LI’s products. Thanks to the emergence of more and more home users, the delivery volume in April 2023 exceeded 25,000 vehicles for the first time, up by 516.3% year-on-year, setting a new record of single-month delivery since the brand was founded, and has delivered more than 20,000 vehicles for two consecutive months. Based on positive market feedback, LI’s second-quarter performance guidance has reached a new high, with an estimated delivery of 76,000 to 81,000 vehicles, up 164.9% to 182.4% year-on-year; The estimated total revenue is 24.22 billion yuan to 25.86 billion yuan, up 177.4% to 196.1% year-on-year.

Maintain high growth in R&D investment and constantly optimize product strength.

In the first quarter, relying on users’ continuous recognition of Ideal L9 and Ideal L8, as well as the strong order volume and rapid capacity climbing of Ideal L7, LI achieved a new single-season delivery result, and gained an 11% market share in the new energy vehicle market of more than 200,000 yuan in China. Once again, it proves that LI is constantly exerting the advantages and cooperative effectiveness of its supply chain, manufacturing, sales and service network from stage 1 to stage 10. At present, the released ideal L series models have achieved outstanding performance in their respective market segments. Among them, as a five-seat flagship SUV of the brand * family, the ideal L7 has delivered more than 10,000 yuan in the complete delivery month, which is also a five-seat SUV model of China brand * with a starting price of more than 300,000 yuan and a monthly delivery of more than 10,000 yuan, becoming one of the luxury five-seat SUVs of more families *; Ideal L8 maintains sales in six market segments *; Ideal L9 has won the monthly sales champion of large SUV for many times since it was delivered last year.

Meanwhile, LI invested a total of 1.85 billion yuan in R&D in the first quarter, up 34.8% year-on-year. In terms of smart space and intelligent driving with high user utilization rate, LI has continuously improved its product strength through OTA upgrade. Since the beginning of this year, the ideal L-series models have completed two OTA version upgrades of 4.3 and 4.4, and more than 100 functions and experiences have been optimized. Among them, the task master can let users define the function combination independently and realize the linkage of seat, driving, navigation and application, which has been well received and discussed by users since it was launched. In addition, in OTA 4.4, the new version of the car adds the sentry mode that users have been waiting for for for a long time. The system will automatically detect the situation around the car and remind users according to the level of different situations. Through its own power-saving strategy, the energy consumption for the whole night is only about half that of other models; At the same time, users who assemble the ideal AD Max intelligent driving system also get LKA Plus function through the recent upgrade. This function can realize automatic lane change when navigation is not turned on, reduce driving fatigue and improve traffic efficiency.

In April, Ideal L9, the six flagship SUV—— of the family, won the five-star intelligent star rating in the evaluation results of the IVISTA China Smart Car Index 2023 * batch released by China Automotive Engineering Research Institute Co., Ltd. (hereinafter referred to as "China Automobile Research"). Especially in the intelligent safety test, Ideal L9 is the vehicle with the highest score among the vehicles that have been tested by China Smart Car Index, and it is also the vehicle with G+ on the basis of four G evaluations. Ideal L9 has also become the vehicle with the highest performance in IVISTA China Smart Car Index.

Create an ideal fortress to protect family members.

LI has also invested a lot of energy and time in safety related to users’ travel, and strived to build an ideal fortress safety body for the whole family through the safety concept of *. Last year, Ideal L9 became a large SUV with G rating for 25% offset collision on both driver’s side and passenger’s side in China Insurance Automobile Safety Index (C-IASI, hereinafter referred to as "China Insurance Research"). In April this year, the Ideal L9 won the five-star evaluation of the upgraded version of C-NCAP in 2021 in the test results of a new batch of China’s new car evaluation regulations (C-NCAP), becoming the vehicle with the highest comprehensive score in history. Ideal L9 is also a luxury large-scale SUV in China, which has obtained * achievements in China’s new car evaluation regulation (C-NCAP), China Insurance Automobile Safety Index (C-IASI), China Automobile Consumer Research and Evaluation (CCRT) and China Automobile Health Index (C-AHI). In the same month, the Ideal L8 also became the SUV model with * achievements in the crash test history of China Insurance Research Institute. In the passenger safety index inside the car, the passenger safety index outside the car and the vehicle auxiliary safety index, the ideal L8 all got the highest rating of G (excellent), especially in the 25% offset crash test on the passenger side of non-standard test items.

A series of excellent crash results depend on the powerful ideal fortress safety car body design, which is a defensive car body structure deeply developed by LI, and strives to provide 360 all-round protection for family members in every position in the car. First of all, LI determined the energy distribution strategy at vehicle level, system level and key parts level, and built a more scientific and reasonable power transmission path and section size system for each main power transmission channel in turn. Secondly, LI designed a cage-type car body with ultra-high torsional rigidity, and used boron steel (hot formed steel) at key positions to form a protective structure with higher strength. At the same time, LI insists on improving material selection, adopts positive energy management and load distribution for body-in-white, carries out accurate topology of key parts and cross-section structure of the body, and truly uses good steel on the blade. The standard flagship ideal fortress safety body truly realizes the equal rights of safety technology.

In addition, following the four five-star certifications of Ideal L9 in China Automobile Health Index (C-AHI) rating, Ideal L8 also recently obtained four five-star certifications in China Automobile Health Index, becoming a well-deserved "green house" to protect family members.

Stepping into a new development chapter with "dual-energy strategy"

Recently, LI officially released the "Double Energy Strategy", which indicates that the brand will exert all-round efforts in "intelligence" and "electric energy". More importantly, by 2025, LI will form a product layout of "one super flagship model+five extended-range electric vehicles+five high-voltage pure electric vehicles", which will face a market of more than 200,000 and fully meet the needs of home users.

In terms of "intelligence", ideal intelligent driving has officially entered the 3.0 era, from high-speed scenes to urban scenes. This system uses three neural network large model algorithms: static BEV network algorithm, dynamic BEV network algorithm and Occupancy network algorithm to restore, and uses NeRF technology to enhance the Occupancy network algorithm to achieve higher accuracy and details, so as to provide accurate information in the decision-making planning of complex urban scenes. At present, based on the accumulation in the past five years, LI has already had the most intelligent driving training mileage in China, which has reached more than 400 million kilometers. The urban NOA navigation-assisted driving system with ideal AD Max 3.0 is planned to push internal test users from the second quarter of this year. By the end of 2023, there will be more than 100 domestic cities, and with a set of technologies, cities and highways will be completely opened. Some intelligent driving abilities based on large-scale model training will also be released to users who adopt ideal AD Pro hardware models.

In terms of "electric energy", LI has officially entered a new stage of "extended range electric" and "high voltage pure electricity". For the pure electric products to be released in the future, LI has deeply cultivated the core technology and landed an 800V ultra-charged pure electric solution. Its advantage lies in making users bid farewell to mileage anxiety and giving pure electric users a "refueling" experience. LI’s pure electric products will adopt a new generation of self-developed electric drive system composed of 800V silicon carbide power modules, with comprehensive optimized design scheme and more advanced resource integration, which will make breakthroughs in all energy efficiency indicators. In addition, in order to reduce the charging difficulties of users of pure electric vehicles, LI officially launched the "Ideal 4C Super Charging Station" and the overcharge network, so as to realize the rapid recharge of charging for 10 minutes and increasing the battery life by 400 kilometers. By 2025, the goal is to build more than 3,000 charging stations. At the same time, the ideal AD Max 3.0 will also be integrated with the ideal 4C super charging station *, making it more convenient for users to go to the super charging station than to the gas station.

Optimize the layout of sales network and enhance the status of the industry *

In the first quarter, in order to support the development of multi-vehicles, LI continued to expand the network layout and accelerate the upgrading of store quality, so as to provide users with more convenient and efficient services. Since late June last year, LI has expanded or optimized nearly 50 existing stores. As of April 30, 2023, LI has 302 retail centers nationwide, covering 123 cities; There are 318 after-sales maintenance centers and authorized car body panel spraying centers, covering 222 cities.

The ever-increasing profitability and cash flow have become the basis for enterprises to continuously invest in R&D and business capabilities, and also provide strong support for brands to maintain their position in the new energy vehicle market. With strong product strength and excellent operational efficiency, LI will continue to strengthen its commercial and service capabilities, create greater value for users and further enhance the flywheel effect of enterprise development.

　　A, classification management ideas and standard setting

　　Different choices of civil subjects based on network anchors, as well as different civil contract designs from platforms and brokerage companies, constitute different tax payers and different tax objects in tax law, and apply different substantive rules and collection and management procedures, which inevitably requires the introduction of hierarchical management ideas. Classified taxation management is the essential appeal and concrete embodiment of the statutory principle of taxation. Under the guidance of classification, focusing the collection and management efforts on high-income groups such as head anchors and star anchors is in line with the requirements of the principle of collection and management efficiency, and also meets the requirements of the times to play the role of tax social distribution regulation under the background of common prosperity.

　　How to set the standard of classification is the first question that needs to be answered. The first and bottom line standard is to classify according to the clear provisions of the tax law, and stick to the bottom line of no one size fits all.

　　From the main design point of view, the network anchor is either in the form of a natural person, or in the form of an individual industrial and commercial household, a sole proprietorship enterprise and other organizational forms; In terms of civil contract design, the network anchor either signs a labor contract or business contract with the live broadcast platform, or signs a contract with a brokerage company and forms a tripartite relationship with the live broadcast platform; From the type of income, the main income is labor remuneration and business income (including the business income of natural persons, individual industrial and commercial households and sole proprietorship enterprises), and under special circumstances, it is salary income. If a company is established, it should also be taxed according to enterprise income tax.

　　It is necessary to combine the above various civil subjects and their different contract types, and carry out classified collection and management in accordance with the clear provisions of the tax law, including income tax and value-added tax. The bottom line that needs to be grasped is that we can’t blindly make a one-size-fits-all approach, that is, unify the collection and management according to a certain subject type and contract type.

　　A more guiding standard is to classify according to the amount of income, and advocate the establishment of individual industrial and commercial households, sole proprietorship enterprises and other organizations for high-income groups such as head anchors and star anchors and tax them accordingly. The important orientation of classified management is the collection and management of high-income groups, such as head anchors and star anchors. The amount of income should be regarded as an important standard of classified management, and a standard of amount can be determined by month or year (for example, 100,000 yuan per month or 1.2 million yuan per year). For those above this amount, tax authorities and platforms advocate the establishment of individual industrial and commercial households, sole proprietorship enterprises and other organizations, and handle tax registration, standardize the establishment of accounts and tax accordingly. Of course, it is not mandatory to advocate the establishment of an organization, and taxpayers’ free choice should be respected.

　　Second, the taxation and scheme design of two types of network anchors

　　According to the above standards, we can roughly outline two tax forms of network anchors:

　　The first category is to advocate the establishment of individual industrial and commercial households, sole proprietorship enterprises and other organizations for network anchors above a certain standard amount and tax them accordingly;

　　The second category is network anchors that have not reached a certain standard amount, or have reached a certain standard amount but have not established individual industrial and commercial households or sole proprietorship enterprises.

　　The taxation of the first type of network anchor should be the key concern.

　　The first type of collection and management scheme is designed as follows:

　　(1) Main taxes and tax items: personal income tax is taxed according to "business income" and value-added tax according to "modern service industry" or "life service industry". As far as individual taxes are concerned, from the perspective of formal taxation, the establishment of individual industrial and commercial households and sole proprietorship enterprises should generally be taxed as "business income", and in special circumstances, it can be taxed as "labor remuneration" based on the principle of substantive taxation.

　　(2) Collection and management methods and invoice management: taxpayers declare by themselves, issue invoices by themselves or apply to the tax authorities to issue invoices on their behalf. Whether it is individual tax or value-added tax, for the establishment of an organization, taxpayers should declare themselves, issue their own invoices or apply to the tax authorities for invoicing.

　　(3) Tax determination method: mainly based on audit collection, supplemented by approved collection. According to State Taxation Administration of The People’s Republic of China’s "Strengthening the Tax Administration of Employees in the Entertainment Field", "individual studios and enterprises that are required to be established by celebrity artists and network anchors should be instructed to establish account systems according to laws and regulations, and tax returns should be made by means of audit collection." Therefore, for such anchors, tax registration should be handled, accounts should be strictly established, and accounts should be audited and collected; Considering the difficulty in establishing accounts and saving the cost of collection and management, we can also consider collecting some anchors by verification, but we should ensure the balance of tax burden between the collection by verification and the collection by audit, so as to avoid the alienation of verification into a tax preference tool. (4) Tax payment place and competent tax authorities: According to the relevant provisions of the tax law, "operating income" should be declared and paid in the tax authorities where the business management is located, and the competent authorities are the tax authorities where the business management is located. In terms of value-added tax, it should be declared and paid by the tax authorities in the place where the institution is located or where it lives, and the competent authority is the tax authorities in the place where the institution is located or where it lives.

　　The second type of collection and management scheme is designed as follows:

　　(1) Main taxes and tax items: personal income tax is taxed according to "labor remuneration" or "business income" and value-added tax according to "modern service industry" or "life service industry". If there is no organizational structure, the income obtained from the platform or brokerage company can be taxed as "labor remuneration" or "operating income". From the point of view of collection and management efficiency, we might as well simplify it: whether it is continuous and regular activities for business purposes, and the size of income quota, as the distinguishing standard. Those who do not reach a certain standard amount are generally taxed according to "labor remuneration" (which can be understood as non-sustainability, regularity and small income); For those who reach a certain standard amount, they can be taxed as "operating income" (which can be understood as continuous, regular and large in income).

　　(2) Collection and management methods and invoice management: if the tax is levied according to "labor remuneration", the payer (platform or brokerage company) will withhold and remit it when paying, and the anchor will make annual final settlement; The "operating income" shall be declared by the taxpayer. In invoice management, the former is opened by the anchor applying to the tax authorities, and it can also be considered to be opened by the platform or applied to the tax authorities; The latter is issued by the taxpayer himself or by the tax authorities.

　　(3) How to determine the tax: if the tax does not reach a certain standard amount, it will be taxed as "labor remuneration", and the withholding agent will withhold it and broadcast the personal annual settlement; For those who are taxed according to "operating income", because there is no organization, they will generally adopt the approved collection, but taxpayers can also audit the accounts if they establish accounts.

　　(4) Tax payment place and competent tax authorities: if tax is paid according to "labor remuneration", tax payment shall be declared at the tax authorities where the household registration is located, the habitual residence or the main source of income; If there is a withholding agent, the tax authorities where the withholding agent (such as the platform) is located shall withhold the declaration. Taxes levied on "business income" shall be declared and paid by the tax authorities in the place where the business management is located, and the competent authority shall be the tax authorities in the place where the business management is located. In terms of value-added tax, because there is no place where the organization is located, it should be declared and paid by the tax authorities at the place of residence or where the live broadcast activity takes place, and the competent authority is the place of residence or where the live broadcast activity takes place.

　　No matter which of the above types, the network platform undertakes certain duties and obligations to assist in tax collection.

　　First, the obligation to withhold and remit. For the individual tax levied according to "labor remuneration", the main obligation of the platform is the obligation of withholding and remitting.

　　The second is the determination and sharing of live broadcast turnover. Whether it is reward income or sales income, the platform can grasp it in time and provide it regularly according to the requirements of tax authorities.

　　Third, urge the anchor to handle tax registration, standardize the establishment of accounts, declare and pay taxes in time, and undertake certain inspection obligations and reporting obligations to the tax authorities.

　　Fourth, the feasibility of entrusting the collection. From a practical point of view, entrusting to collect taxes is not the mainstream choice of tax authorities, but there is room for entrusting the platform to collect taxes for network anchors, especially for anchors whose income is higher than a certain standard amount but without an organization. The competent tax authorities can sign an entrustment agreement with the platform to entrust them to collect taxes according to the Administrative Measures on Entrusted Collection.

　　In addition, the tax bureau should also strengthen the ability of data tax management, such as the construction of electronic tax bureau, electronic tax registration, electronic invoice and other related convenience systems, and at the same time strengthen the ability of data sharing with the platform.

　　Third, the policy declaration and legal expression of classified management

　　In recent years, the tax system has strengthened the tax collection and management of webcasting industry, which shows the spirit of the rule of law of statutory and strict tax collection and the times demand of common prosperity, but at the same time, it has also caused great uncertainty and even panic to the practitioners of webcasting industry and related industries: Is the tax rectification of network anchors a temporary "Great Leap Forward" or a continuous implementation of the rule of law? What is the policy orientation for tax consolidation, unified and integrated governance, or focusing on the big and letting the small and releasing water to raise fish?

　　In addition, the resonance between the complexity of tax law norms and the complexity of the design of network anchor trading model also increases the uncertainty of anchor paying taxes according to law and tax compliance, and the lack of clear policy list guidance also increases the illegal risk of tax law. On September 18th, 2021, State Taxation Administration of The People’s Republic of China issued "Strengthening the Tax Administration of Employees in Entertainment Field", but it did not make clear policies and specific rules.

　　In the face of the ongoing tax clearance of the live broadcast industry, tax authorities, network anchors, platforms and other parties should seek to build a basic consensus. The tax system can clearly declare its position on anchor tax collection and management through the rule of law, that is, taxation according to law and strict collection and management, as well as giving play to the social distribution and regulation function of taxation under common prosperity; In terms of policy, the tax authorities should establish the management thinking of classification and clarify the standards of classification and classification, that is, focus on the collection and management of high-income groups such as head anchors and star anchors, and at the same time follow the clear provisions of the tax law and stick to the bottom line of the rule of law that does not apply across the board.

　　On this basis, the tax authorities should construct typical types of network anchors and sort out the current tax rules, and stipulate the tax collection and management types, tax collection methods and invoice management, tax determination methods, tax payment locations, competent tax authorities and tax-related assistance obligations of platforms for different types of anchors, so as to provide clear guidance for network anchors and platforms. This should be an urgent task and a fundamental solution to the current legalization of taxation in the live broadcast industry.

　　(Author Wang Zongtao is an associate professor at Xiamen University Law School, doctor of law)

Text | BT Financial Data Pass, Author | Three Crazy

Cathay Pacific has been controversial because of its attitude towards non-English-speaking passengers, but this does not affect its ultra-high profit margin.

In May 2023, Cathay Pacific was pushed to the forefront because of the blanket incident. Some passengers accused the flight attendants of showing obvious discrimination when providing blankets to non-English passengers. This incident quickly sparked heated discussion on social media.

In fact, this is not the first time that Cathay Pacific has attracted public attention because of discrimination. In the past few years, similar incidents have been common, and every time they have caused widespread discussion and criticism in society. However, Cathay Pacific does not seem to have learned from these incidents, and its service attitude has not been fundamentally solved.

Looking back at the long river of history, the development history of Cathay Pacific is accompanied by glory and shadow.

Since its birth in 1946, Cathay Pacific has carried the dream of Hong Kong’s take-off. At that time, Hong Kong was in the midst of a booming economy, and the founders of Cathay Pacific, Dragonair and Singapore Airlines were ambitious and determined to write their own legends in this hot land. They bravely embarked on the journey with a small plane and several short-haul routes.

However, the road to entrepreneurship is not smooth sailing. Cathay Pacific opened international routes and bought new aircraft during the expansion period, but its management means and technical level are still immature. Facing the competition of international aviation giants, Cathay Pacific strives for a breakthrough, but it also has to face various internal contradictions and challenges.

Entering the period of internationalization, Cathay Pacific ushered in a golden period of development. The opening of international routes such as new york, London and Sydney, as well as the cooperation with many international airlines, have made Cathay Pacific gradually emerge. However, just when Cathay Pacific seemed to have unlimited scenery, the shadow came quietly. The decline in service quality and frequent management loopholes have dealt an unprecedented blow to Cathay Pacific’s reputation.

During the merger period, Cathay Pacific tried to make up for its own shortcomings through acquisition and cooperation. The acquisition of Dragonair has undoubtedly injected new vitality into Cathay Pacific, but it has also brought many integration problems. At the same time, the cooperation and alliance with other airlines are not smooth sailing, and problems such as interest disputes and cultural differences have put Cathay Pacific into a situation of internal and external troubles.

In the period of modernization and transformation, Cathay Pacific tried to revive itself through digital transformation and the introduction of new aircraft models and technical means. However, in the face of intensified market competition and changes in customer demand, Cathay Pacific’s road to transformation seems to be difficult. Although innovative measures such as SkyTeam membership plan have been launched, it still needs to be improved in terms of service quality and operational efficiency.

In addition to service disputes, Cathay Pacific’s financial situation is also worrying. The performance of losing money for three consecutive years makes investors feel pessimistic about the company’s prospects. The latest financial report shows that despite the company’s efforts in some aspects, revenue and net profit have been greatly improved, but the overall financial situation has not improved significantly.

After the recent relatively bright financial report was released, Cathay Pacific’s share price fell instead of rising. According to statistics, the stock price fell by 3.27% in the trading day after the financial report was released, which reflected the market’s concern about the company’s future performance. As of the close of March 14th, Cathay Pacific’s share price was HK$ 8.870 per share, which was 40% lower than the high of HK$ 14.672.

Cathay Pacific released its financial report for 2023 on March 13th, and its performance showed a positive trend of turning losses into profits. On the whole, after experiencing the losses in 2022, the company achieved a significant recovery in performance through efforts.

From the overall performance overview, in 2023, Cathay Pacific’s performance income reached 94.485 billion Hong Kong dollars, compared with the loss of 6.623 billion Hong Kong dollars in the same period in 2022, achieving a significant increase in net profit of 9.789 billion Hong Kong dollars. This achievement is mainly due to the strong recovery of passenger transport business.

What is optimistic is that Cathay Pacific’s passenger transport business has grown substantially. In terms of passenger transport, Cathay Pacific’s passenger transport revenue is HK$ 55.951 billion, an astonishing increase of 308.8% compared with 2022. In 2023, the company transported 18 million passengers, with an average daily passenger capacity of 49,300 passengers, an increase of 541.4% compared with 2022. This growth reflects the strong recovery of the aviation market and Cathay Pacific’s efforts in passenger service.

The recovery in North Asia has been remarkable. From the perspective of Cathay Pacific’s global passenger transport business, the data of all regions have shown an increasing trend. It is particularly noteworthy that the recovery of North Asia, which is dominated by the mainland of China, is more remarkable. The financial report shows that in North Asia, the company’s carrying capacity increased by 534.7% year-on-year, and the passenger carrying rate also increased by 23.6 percentage points, reaching 78.4%. This growth rate ranks first in all regions, showing the importance of the North Asian market to Cathay Pacific and the company’s strong competitiveness in the region.

In addition to North Asia, Cathay Pacific’s performance in other regions can not be ignored. In South Asia, Middle East and Africa, the company’s carrying capacity increased by 467.7% year-on-year, and the passenger carrying rate also increased by 15.9 percentage points. In Southeast Asia, the carrying capacity increased by 456.6% year-on-year, and the passenger carrying rate increased by 17.7 percentage points. These data show the company’s business recovery and growth momentum on a global scale.

As we all know, the gross profit margin of Maotai is the ceiling of many industries.The gross profit margin can be higher than that of Maotai, and Cathay Pacific is one of the few.

Cathay Pacific’s gross profit margin in 2023 was as high as 91.85%, which even exceeded the gross profit margin of 91.71% of Kweichow Moutai in the same period. In general, gross profit margin is regarded as an important indicator of enterprise profitability and operating efficiency. Cathay Pacific’s gross profit margin is higher than Maotai’s, which explains its high profit margin in aviation business to some extent.

However, when we further observe Cathay Pacific’s net interest rate, we find that its net interest rate is only 10.36%, far lower than that of Kweichow Moutai’s 53.09%. This phenomenon of high gross profit margin and low net interest rate actually reveals a series of challenges Cathay Pacific faces in its operation.

First of all, labor cost is one of the important expenses in airline operation.With the recovery of global economy and the recovery of aviation market, in order to attract and retain talents, airlines often need to improve the salary and welfare level of employees. This has increased the labor cost of Cathay Pacific to a certain extent, thus compressing its net interest rate space.

Secondly, in addition to labor costs, airlines also need to face various cost pressures such as fuel price fluctuations, aircraft maintenance costs, and route operating costs.The changes of these cost factors will directly affect the profitability of airlines. For example, the increase in fuel prices will increase the operating costs of airlines, thus reducing their net interest rates.

In addition, market competition is also one of the important factors that affect the net interest rate of airlines.In the highly competitive aviation market, airlines often need to adopt price competition strategy in order to compete for market share and customer resources. Although this strategy can increase sales and market share, it will also reduce the profit rate of airlines to some extent.

Although Cathay Pacific has a high gross profit margin, its net interest rate performance is not ideal due to the increase of labor costs and market competition. In order to improve profitability, Cathay Pacific needs to make more efforts in cost control, market expansion and service quality improvement. Because Cathay Pacific’s high gross profit margin did not bring high net interest rate.

In the aviation industry, the performance of companies is often affected by multiple factors such as macroeconomics, fuel price, market competition and service quality. Cathay Pacific, as one of them, does not have obvious advantages over the same industry in some aspects.

First look at the revenue data. Although the revenue disclosed by Cathay Pacific in the latest financial report is still huge, compared with the industry leaders, its growth rate is somewhat weak. Take Singapore Airlines and Emirates as examples. Both airlines have achieved steady revenue growth in the past few years, while Cathay Pacific’s revenue growth is relatively slow.

There are many reasons for this situation. On the one hand, the market competition is becoming increasingly fierce, especially in Asia, where emerging airlines are constantly emerging, posing a severe challenge to traditional airlines. On the other hand, Cathay Pacific may be too conservative in route layout and market expansion, failing to fully grasp the growth opportunities of emerging markets.

Let’s look at the net profit data. Cathay Pacific’s net profit performance is also not optimistic. Compared with its counterparts such as Singapore Airlines and Emirates Airlines, Cathay Pacific’s net profit level is low and fluctuates greatly. This instability not only affects the profitability of the company, but also increases the risk of investors.

The reasons of net profit fluctuation mainly include fuel price fluctuation, exchange rate change, market demand change and other factors. However, Cathay Pacific seems to be unable to cope with these risks. Especially in terms of fuel prices, Cathay Pacific failed to effectively hedge the pressure brought by rising fuel costs, resulting in a greater impact on net profit.

In terms of gross profit margin and net interest rate, Cathay Pacific’s performance is also unsatisfactory. Although its gross profit rate is relatively high, its net profit rate is far below the average level of the same industry. This means that the company is facing great cost pressure in the operation process, and the profit space is severely squeezed. This is mainly due to the pressure of labor cost, fuel cost and market competition faced by the company in the operation process, which leads to the compression of profit space.

Because Cathay Pacific has been criticized for its service quality, there are as many as 721 complaints about Cathay Pacific on the complaint platform Black Cat. In order to improve the service level, the company has increased its investment in employee training, which has increased its labor cost to some extent. It is reported that the labor cost of Cathay Pacific in 2023 increased by 3 billion yuan compared with previous years.

Although Cathay Pacific has made efforts in service training, its service problems are still frequent, which may be related to the company’s management system, staff quality and corporate culture. In contrast, Singapore Airlines and Emirates Airlines have shown good stability in terms of gross profit margin and net interest rate.

There are two main reasons for this situation. First of all, fixed expenses such as labor costs account for a relatively high proportion, which makes it difficult for Cathay Pacific to reduce costs during its operation. Especially in terms of employee compensation and welfare, Cathay Pacific needs to invest a lot of money to maintain the stability of the workforce and the quality of service. Secondly, the fierce market competition makes airlines have to adopt price competition strategy to attract customers, which further reduces Cathay Pacific’s profit margin.

In fact, how to find a balance between improving service quality and controlling costs is a big problem for Cathay Pacific. On the one hand, improving service quality can improve customer satisfaction and loyalty, thus bringing more market share and benefits to the company. On the other hand, excessive investment may lead to rising costs, declining profit margins and even losses. Therefore, Cathay Pacific needs to pay more attention to cost control and operational efficiency improvement on the premise of ensuring service quality.

The change in the rating of Cathay Pacific also reflects its performance to some extent. In recent years, due to the problems in service quality, cost control and market competition, some institutions have downgraded Cathay Pacific. These rating changes not only affected the company’s share price performance, but also dealt a blow to its market reputation and investor confidence.

In the latest trading day, Cathay Pacific’s share price fell by more than 4%, and CLSA downgraded its rating and earnings forecast. In the research report released by CITIC Lyon, Cathay Pacific’s investment rating was adjusted from "buy" to "outperform the market" and the target price was kept at HK$ 10.6.

The report predicts that the profit attributable to ordinary shareholders of the company will increase by 29% to HK$ 5.1 billion in the second half of 2023, which is 22% higher than previously expected. At the same time, it is expected that the company will resume paying ordinary dividends in advance.

However, CLSA believes that the risk return of the current share price is not attractive in view of the changes in air ticket prices and rising staff costs. Therefore, the agency lowered its profit forecast for 2024-25 by 4-5%, mainly because it has not seen obvious signs of improvement in freight business.

ICBC International, the investment banking department of the largest bank in the Mainland, downgraded Cathay Pacific to "strong sell" and adjusted its target price to HK$ 6. This shows that ICBC International is pessimistic about Cathay Pacific’s future development prospects.

To sum up, Cathay Pacific’s performance in 2023 does not have obvious advantages in the aviation industry. In order to enhance its competitiveness, Cathay Pacific needs to make more efforts in service quality, cost control, operational efficiency and market risk management.

CCTV News:Speaking of Hua Tuo, everyone must be familiar with it. It is said that this imperial doctor in the Three Kingdoms period has a wonderful hand to rejuvenate the disease. In the Capital Aerospace Machinery Company under the China Academy of Launch Vehicle Technology, there is also a "doctor Hua Tuo". However, this doctor is not a doctor, but an old technician who repairs machine tools. He is Yang Jingde.

Yang Jingde, born in 1937, is a national senior technician, graduated from Shanghai Aviation Industry School (formerly "East China 250 Technical School"), and is one of the earliest military industry technicians trained in New China. At the age of 18, he was assigned to Nanyuan Aviation Repair Factory, today’s Capital Aerospace Machinery Company, and began to deal with cold machine tools.

Now, Nanyuan Aviation Repair Factory has developed into a base for the batch production and development of missiles and rockets in China. From green to old, Yang Jingde never left. He used his life’s wisdom and years to interpret his persistence in the space dream.

Another kind of "magic doctor": "looking, hearing and asking" to repair machine tools

In the 1950s, China’s space industry was still in its infancy, and the conditions were very difficult. Nanyuan aviation repair shop has only a total of hundreds of equipment, all of which are hand-operated machine tools. Yang Jingde doesn’t even have a desk in her dormitory.

However, Yang Jingde was never afraid of hardships, and especially loved to study hard, seizing every opportunity and time to learn advanced technology. Because of his outstanding performance, he was also sent to learn the maintenance of precision machine tools from Soviet experts. For this reason, he made every effort to cherish this hard-won learning opportunity.

At that time, Yang Jingde, who was very young, was already quite famous in the factory. Years of study and research and tempering on the production line have enabled him to practice a stunt: "looking, smelling, asking and cutting" the equipment like an old Chinese doctor.

The oil on the equipment guide rail is more or less, clear or turbid. Yang Jingde can tell the cause of the fault with his eyes.

He can also "listen" to the fault. A few years ago, a British imported equipment was abnormal. Yang Jingde went to the front of the machine tool, leaned down, listened to the noise of the equipment, and then felt the temperature and rotation frequency of the equipment with his hands. The roar in the workshop was extremely noisy, but it did not affect his judgment at all, and he found the "lesion" in a few times.

What’s more, there is another trick, "sound detection from a distance", which makes everyone have to admire the superb skills of this old technician.

One year, Yang Jingde had just finished gallstone surgery, and one of the equipment in the unit was broken. In order not to affect the production, he walked out of the hospital and went back to the workshop for a day. Until he found the cause of the equipment failure and solved the problem, the young comrades of the rest of the equipment could do it by themselves, and he dragged his tired body home. Who knows that at 9 o’clock in the evening, my colleague called and said that the machine that had just been repaired had broken down again. In desperation, he can only instruct the on-site personnel by telephone remote control: "You put your mobile phone next to the machine and I will listen." He vaguely heard the irregular noise in the roar of the machine.

"You put ‘ Lead screw ’ Clean it and see if there is anything extra. " Yang Jingde said.

After the maintenance master took down the "lead screw", he found that there was indeed something superfluous in it. It was aluminium scrap who wore the ball of the "lead screw", which caused the equipment to malfunction. Clean it and reinstall it. Problem solved!

Lay the foundation for your dream with your aerospace peers.

"On October 1, 1997, I began to enter the stage of re-employment, and the specific work was as follows … …” It can be seen from a yellowed Production Task Record Book that this old technician can retire 19 years ago. At that time, Yang Jingde was famous for his stunts, and many units wanted to hire him. The boss of a company came three times and offered him 5000 yuan a month. One company even said, "The salary is up to you, and you are hired as a consultant, so you don’t have to work."

At that time, the salary of rehiring old experts in the factory was 500 yuan per month. Before retiring, the factory leader only said to Yang Jingde: "The factory can’t live without you." He nodded without hesitation.

"I was trained in the factory. Everything I have is given by the factory. I can’t be ungrateful." Yang Jingde said. Not for fame, not for profit, Yang Jingde is like a rock. This firmness is the infinite loyalty of this old technician to the aerospace industry.

After rehiring, the leader always told Yang Jingde that he didn’t have to come to work every day, so call him if he had any questions. But he is still not at ease, coming every day.

Selfless and earnest attitude, marvelous machine repair technology, Yang Jingde has saved a lot of money and made progress for the factory over the years.

In the summer of 2014, an imported machine tool broke down seriously, and there was no maintenance capacity in China, so it had to return to the country of origin, with a maintenance cost of more than 1.3 million yuan and a cycle of at least 3 months. This is a high-precision machine tool, and no one dares to touch it. Yang Jingde looked at it and said, "It can be repaired!"

As a result, 77-year-old Yang Jingde stooped and got in and out of the equipment every day, sweating and working for 20 days. Finally, the machine tool was repaired with only 150,000 yuan. Yang Jingde not only saved "foreign equipment", but also saved more than one million yuan in maintenance costs for the factory. This shocked the original manufacturers.

In 2015, Yang Jingde was 78 years old. Considering his age, the company leaders were really worried about his physical condition, so they ended their re-employment. However, he is still the same as before, and the unit is responsive and has no words.

The old man who repaired machines walked with the aerospace industry all the way, and every progress of this career condensed his life’s hard work and pursuit. He is a witness and a founder. (Text/Liu Chang)