Wanda Commercial Management IPO: It seems that the light boat has passed 10,000 mountains, but it is actually moving forward with a heavy burden?

Image source @Visual China

Article | Hong Kong Stock Research Institute

Recently, following the termination of Wanda Commercial Management’s bond issuance plan, the Securities Supervision Commission questioned the authenticity of Wanda’s shopping mall sales data, and the freezing of Zhuhai Wanda Commercial Management’s equity by the court, Wanda Commercial Management encountered "water reverse" again – Fitch released a report downgrading Wanda Commercial Management’s rating, and believes that Zhuhai Wanda Commercial Management may not be able to complete the listing before the end of 2023.

The influx of negative news has cast more and more clouds over Zhuhai Wanda Commercial Management’s fourth impact on Hong Kong’s IPO.

And in the Wanda Group debt pressure, nearly 40 billion yuan bet the deadline is approaching, the Zhuhai Wanda Commercial Management impact on Hong Kong stocks, is also considered to be Wanda’s last battle, for this reason, Wanda opened a new round of "sell sell sell". So, in this case, carrying Wanda’s future asset-light model, can it still be bright?

Zhuhai Wanda Commercial Management is the product of Wanda’s commercial real estate sector.

Wanda’s commercial real estate sector once included commercial real estate development, residential real estate development and commercial property management. It is worth mentioning that Wanda’s real estate sales revenue reached 160 billion yuan at the peak, and then with the official proposal of "real estate and housing not speculation", the development of the real estate industry has gradually returned to rationality.

Under this trend, Wanda Commercial changed its name to Dalian Wanda Commercial Management in 2019, and from then on, its business focus shifted to commercial management. In this regard, Wang Jianlin clearly set the tone that the real estate group "does not pursue sales, exists for commercial management, and digests Wanda Plaza residential facilities every year to maintain tens of billions of sales." This choice is also in line with the development trend of the industry.

At that time, China’s commercial plazas were in the second half of the rapid expansion cycle. Data show that from 2016 to 2021, the growth rate of China’s stock commercial plazas, although declining, still maintained an average annual growth rate of about 15%. The total number of commercial plazas increased from 2,862 to 5,936. For the business management giant Wanda, the business management business undoubtedly has a lot of room for development.

But since then, with the high land prices in first- and second-tier cities and the frequent emergence of "land kings" in the core area, Wanda’s previous asset-heavy business management model of self-built commercial plazas has been unsustainable due to the need to invest a lot of money. Therefore, in 2021, Dalian Wanda Commercial Management will divest its business again, and establish a new subsidiary Zhuhai Wanda Commercial Management to conduct asset-light operations in commercial property management business, and strengthen its business layout in third- and fourth-tier cities.

In fact, compared with real estate companies such as Vanke, Country Garden, and China Resources, which mainly focus on residential development, Wanda has accumulated profound experience in the operation and management of commercial plazas. Moreover, the shift in the focus of industry development has also provided a rare opportunity for its expansion in third- and fourth-tier cities. Since the beginning of the new century, in the construction frenzy of Chinese shopping centers, there have been obvious geographical stratification. In the first ten years, 60% of the new shopping centers were concentrated in four first-tier cities, and then began to gradually extend to second-tier cities. In recent years, with the increasing vacancy rate of shopping centers in first- and second-tier cities, the expansion of the industry has also begun to sink.

With the continuous improvement of brand power in low-tier cities and the advantages of low capital investment and fast replication of the asset-light model itself, Zhuhai Wanda Commercial Management has experienced a wave of expansion. According to the prospectus, by the end of 2022, Zhuhai Wanda Commercial Management managed a total of 472 commercial plazas, of which 288 were from the parent company and 184 were owned by independent third parties, accounting for nearly 40%. In contrast, in recent years, real estate companies that have also begun to develop an asset-light model have made slightly slower progress. For example, China Resources Vientiane Life, a subsidiary of China Resources Real Estate, has an operating income of only 4.20 billion yuan as of 2022, and the projects under management still mainly come from the parent company, accounting for 86%.

At the same time, Zhuhai Wanda Commercial Management’s operating performance is also quite eye-catching. According to the prospectus, Zhuhai Wanda Commercial Management will achieve revenue of 27.10 billion yuan in 2022, net profit will reach 7.50 billion yuan, and the return on net assets is quite high. Its net assets equivalent to 4% of the parent company’s net assets contributed 72% of the total profit of the parent company Dalian Wanda Commercial Management. Strong profitability has also made Zhuhai Wanda Commercial Management Wanda’s "cash cow". From 2019 to the first half of 2022, the cumulative cash dividend will be 13.273 billion yuan, the vast majority of which will flow to Wanda Commercial Management, which holds nearly 80% of the shares.

If you look at it alone, after layers of stripping, Zhuhai Wanda Commercial Management seems to have "crossed a thousand mountains in a light boat". However, when you zoom in to the entire Wanda system, things may not be so easy. It can be said that Zhuhai Wanda Commercial Management’s light asset operation is still moving forward with a heavy load.

When Zhuhai Wanda Commercial Management was established in 2021, it introduced a group of heavyweight investors up to 38 billion yuan in financing. As a bet, Zhuhai Wanda Commercial Management needs to be listed before the end of 2023. If it cannot be listed as scheduled, it will not only have to repay the entire investment of 38 billion yuan in cash, but also pay an additional 8% interest.

Now, after the failure of multiple submissions to the Hong Kong Stock Exchange, the end of the bet is approaching. At the same time, due to multiple factors, Wanda Film and other sectors continue to slump, and financing is limited, Wanda Group’s debt problem has become increasingly prominent.

On April 28, Dalian Wanda Commercial Management disclosed the 2022 corporate bond report on the Shanghai Stock Exchange. As of December 31, 2022, the company’s short-term borrowing balance was 5.046 billion yuan, an increase of 948.74% year-on-year; the non-current liabilities due within one year were 68.768 billion yuan, an increase of 304.12% year-on-year. In June, Wanda Commercial Management issued bonds with a quota of 6 billion yuan and was forced to terminate the issuance. The financing channels were significantly tightened, which was related to Zhuhai Wanda Commercial Management’s delay in listing.

It can be seen that for Wanda, the Zhuhai Wanda Business Management sprint IPO is largely an important attempt to revitalize the overall situation. But even putting aside the pressure of capital and other aspects and returning to the asset-light operation model itself, Zhuhai Wanda Business Management is also facing no small challenges.

Compared with the asset-heavy model, the asset-light model has two main advantages. First, it is no longer necessary to pay attention to land acquisition, construction, etc., but focuses on the operation of shopping malls. After the professional division of labor is clearer, it can give full play to its strengths, thereby improving business performance. Second, the traditional asset-heavy model itself has accumulated a large amount of funds, and its expansion speed is bound to be constrained by the scale of funds, while the asset-light model only exports brand and management, which greatly reduces the demand for funds, so it can achieve rapid expansion, and once the operation model is formed, it can be quickly replicated, and the scale effect is more prominent.

As mentioned above, Zhuhai Wanda Commercial Management has been able to expand significantly, largely due to the asset-light model itself. However, after a wave of rapid expansion, Zhuhai Wanda Commercial Management’s subsequent continued growth is also facing uncertainty.

In recent years, under the policy tone of reducing leverage and debt, there are not a few real estate enterprises that attach importance to the asset-light model, such as Country Garden, Longhu, Vanke Printing, China Resources Land, Joy City Holdings, and Baolong Real Estate. They have all accelerated the layout of asset-light projects. For example, Xincheng Holdings will have 31 Wuyue Plaza openings in 2023, and sinking cities will dominate.

At the same time, the oversupply of domestic commercial plazas has gradually become apparent. Data show that from 2017 to 2022, the number of commercial plazas with a rental rate of less than 70% in China increased from 7,800 to 10,948, and it is estimated that it will reach 13,182 by 2027. With the overall oversupply compounded by the influx of many leading real estate enterprises, the market competition in the commercial management track may become more intense.

In this competition landscape, although Wanda business management plans to open 51 in 2023, and focuses on the distribution of third-, fourth- and fifth-tier cities, with the rise of a number of unique emerging business entities, the increase in its acquisition may be more limited.

Moreover, under the predicament of debt pressure, there are frequent news of Wanda’s sale of projects in the market. After the "century sale" of 13 cultural tourism projects and 77 hotels packaged and sold in 2017, Wanda seems to be going to stage "selling, selling" again this year. Relevant actions include selling Wuhan Hanjie Wanda Plaza to SKP Group, transferring more than 80% of the equity of the partnership to China Huarong, reducing its holdings of Wanda Film 37.1877 million shares and cashing out 447 million yuan. In addition, there are rumors in the market that Wanda will sell more than 20 shopping malls in Jiangsu, Zhejiang and Shanghai.

The non-stop sale of assets has also attracted speculation that Wanda’s so-called "light assets" are actually "clearing assets", and some industry insiders believe that Wanda’s clearing assets may now affect the basic business of Zhuhai Wanda Commercial Management.

However, according to Wanda Group, the follow-up operation rights of the equity transfer projects are still retained by Wanda Commercial Management, which is not affected by the equity change, and most of the projects sold are heavy asset projects and are not under the umbrella of Zhuhai Wanda Commercial Management. From this point of view, there may be no need to worry too much.

In addition, in the medium and long term, the industry still has room to explore its business potential in the future. The main reason is that in the construction of a new development pattern, with the increasing fundamental role of consumption in economic development, shopping malls still have great development value as large-scale physical consumption platforms that can meet a variety of needs.

In terms of management scale, Zhuhai Wanda Commercial Management is already the world’s largest commercial square operating company, with a construction area of 65.60 million square meters in the management mall, exceeding the combined second to tenth place in China. From the perspective of the rental rate, an important indicator to measure the operation capacity of business management enterprises, Zhuhai Wanda Commercial Management’s leading position is also very consolidated. According to the prospectus, as of 2022, the average rental rate (excluding parking spaces) of Zhuhai Wanda Commercial Management reached 98.6%; over the same period, Xincheng was 95.13%, Longhu was 93.9%, and the printing power was 93.2%.

Based on this, if Wanda Commercial Management continues to strengthen its refined operations, establish a better ecosystem for its asset-light model operation, and meet the current stock demand to the greatest extent, such as its recent launch of the "Wanda Smart Business Platform", which provides integrated value-added services for merchants in the four scenarios of location selection, rental, store opening, and operation, it may be conducive to breaking through many constraints and promoting the potential of the asset-light model to a greater extent, thereby demonstrating greater investment value and taking this bumpy road to listing.

 

The second season of the costume drama "Celebration of More Than Years" has been successfully completed

On October 17, 2023, the second season of the much-anticipated costume drama "Celebration of More Than a Year" was successfully completed, which once again aroused the eager expectations of the audience. The drama was jointly produced by CCTV, Penguin Film and Television, Yuewen Film and Television, and Xinli TV. It brought together many powerful actors, including Zhang Ruoyun, Li Qin, Chen Daoming, Wu Gang, Guo Qilin, Tian Yu, Li Xiaoran, Song Yi, Xin Zhilei, Liu Duanduan, Fu Xinbo, etc., and Zhang Qinwei starred in a friendship, which can be called a luxurious lineup.

Adapted from the novel of the same name, the story mainly revolves around a mysterious teenager, Fan Xian, who has an unpredictable life background and has gone through various tests and tempering in the family, rivers and lakes, and temples, and finally wrote a legendary life story. The successful broadcast of the first season has laid a solid foundation for the second season, and the completion of the second season has further aroused the expectations and curiosity of the audience for the sequel.

It is reported that the second season of "Qingyu Nian" not only continued the excitement of the first season during the shooting process, but also paid more attention to the depth of the plot and the emotional expression of the characters. The tacit cooperation and superb performances of the actors on the set are also very much anticipated. At the same time, the production team of the play has also increased investment in scene arrangement, costume props and other aspects, striving to bring the audience into a more realistic and shocking historical picture scroll.

The role of Fan Xian played by Zhang Ruoyun in the play has won the love and recognition of the audience with his excellent acting skills and compatibility with the characters. The roles of Princess Miaoyin played by Li Qin and Fan Ningmei played by Chen Daoming have also been deeply rooted in the hearts of the people and become a highlight of the play.

The success of the second season of "Qingyu Nian" also means that the audience is about to usher in a new audio-visual feast. It is reported that the drama will premiere on Tencent Video in 2024, and I believe that it will cause another ratings frenzy at that time. And the audience’s speculation and expectations for the development of the plot and the fate of the characters will also become a hot topic during the future broadcast.

The completion of the second season of "Celebration of More Than a Year" has brought unlimited expectations and surprises to the audience. With the superb acting skills of the actors and the careful polishing of the production team, I believe that this epic costume drama will once again arouse the enthusiasm of the audience and become a major hot topic and ratings guarantee in 2024.

Provincial Future Factory! Wencheng Wahaha is very "wow"!

Recently, the official of the Zhejiang Provincial Department of Economy and Information Technology announced a "List of Future Factories in Zhejiang Province in 2023", identifying 213 factory/workshop projects in Zhejiang Province as provincial future factories, smart factories, and digital workshops in 2023. Among them, Wencheng Wahaha Hongzhen Food Technology Co., Ltd. was listed and successfully awarded the "Future Factory in Zhejiang Province in 2023".

Wencheng Wahaha Hongzhen Food Technology Co., Ltd. is the unit of Wencheng Wahaha Beverage Future Factory. This "factory in the mountains", which has attracted much attention since the start of construction two and a half years ago, has also been regarded as the latest thinking and exploration of Wahaha Group in the field of intelligent manufacturing.

"Factory of the Future" in the mountains

Drive rural revitalization and high-quality take-off

Wencheng Wahaha Beverage Future Factory is located in Bailuzhou Water Economy Industrial Park, Wencheng County, Wenzhou City. It is the fourth factory invested and built by Wahaha in 26 counties in mountainous areas of Zhejiang Province, and one of the 76 branch factories established by Wahaha in less developed areas across the country in the past 37 years. Wencheng Base covers an area of about 120 acres and mainly produces innovative beverage knock-out products such as Wahaha AD calcium milk, eight-treasure porridge, high-calcium multi-dimensional milk drinks, and coconut milk.

It took only 15 days from negotiation to signing, only 2 months from signing to land supply, only 11 working days from land supply to construction project planning license, and only 7 months from starting construction to commissioning and production of the first production line… To be officially certified as a "factory of the future", the construction of Wencheng Wahaha Beverage Future Factory is not only a vivid example of industrial co-prosperity in 26 counties in mountainous areas of Zhejiang, but also runs out of the "Wahaha speed" of intelligent manufacturing project construction.

At present, Wencheng Wahaha Beverage Future Factory has completed multiple rounds of recruitment, with nearly 200 employees, the vast majority of whom are locals in Wencheng County. Wencheng Wahaha Beverage Future Factory continues to "generate blood for the local area in terms of providing employment, purchasing raw materials, and driving logistics."

Cleaner and more efficient

Green production escort mountains blue water green

Looking down from the factory, patches of gray-black photovoltaic panels cover the factory roof like scales.

In response to the national 3060 double carbon policy, Wahaha actively promotes the installation of distributed photovoltaic power generation devices to gradually establish a multi-energy complementary, optimized combination of fossil energy and new energy, and then establish a low-carbon green power system with renewable energy as the main body. Wencheng Wahaha Beverage’s future factory has installed a total of 4.5MW of distributed photovoltaics, with a total power generation area equivalent to 14.69 standard football fields. The annual power generation and consumption are about 1.30 million degrees, which can reduce carbon dioxide emissions by 1020.5 tons.

Wencheng Wahaha Beverage’s future factory practices green production, reducing water consumption and wastewater discharge and improving water resource utilization through steam condensate recovery, RO concentrated water recovery, water-saving management at key water points, and odor biological purification treatment technology in the wastewater treatment process. Through the application of a series of green water-saving technologies, it can save more than 10,000 tons of water annually.

What’s more worth mentioning is that the future factory of Wencheng Wahaha Beverage has applied the flexible and intelligent low-emission CIP system independently developed by Wahaha for the first time. Each process pipeline in production can automatically call the corresponding cleaning program, cleaning parameters, and customized cleaning according to the different products and processes of production. To ensure that each pipeline has the shortest cleaning time, the best effect and the lowest energy consumption. Special recycling treatment and reuse technology is adopted for the acid and alkali used for cleaning. Some of the cleaning water is recycled after special process treatment, which greatly reduces water consumption and sewage discharge. After the implementation of the project, Wencheng factory will reduce the discharge of cleaning water and sewage by 52% every year, and reduce the consumption of acid and alkali by 30%.

Environmentally friendly has always been an inseparable goal of industrialization. Wencheng Wahaha Beverage Future Factory realizes intelligent energy management, improves energy utilization efficiency, and establishes a high-standard and highly integrated smart energy management system to promote industrial development while caring for greener mountains and greener water.

Smarter and more flexible

Full-link upgrade leads the era of Industry 4.0

Today’s Wencheng Future Factory is fully confirming Wahaha’s latest practice of intelligent manufacturing. Relying on the WERP platform, Wencheng Wahaha Beverage Future Factory can quickly realize the interconnection and interoperability of resources, information and data with the group, integrate the most advanced aseptic intelligent manufacturing equipment and modular production process in the application industry, "one-click intelligent control" ingredient center, intelligent visual inspection, 5G intelligent warehousing, intelligent logistics platform and other advanced technologies to achieve comprehensive improvement of efficiency, cost, quality and other indicators, leading the future factory construction of the food and beverage industry.

This also means that the future factory of Wencheng Wahaha Beverage has been completely different from the Industry 3.0 format, but through the Internet of Things to connect automation equipment with orders, materials, networks, and data, and perform full-link information processing and calculation. Ultimately, with the least waste, the easiest and most effective communication, reducing intermediate participation links, and realizing the efficiency and energy conservation of Industry 4.0 production.

Original title: "Provincial Future Factory! Wencheng Wahaha is very" wow "!"

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NIO announced: the whole system price reduction 30,000!

Red Star Capital Bureau news on June 12, NIO announced today: From June 12, 2023, the starting price of all new NIO cars will be reduced by 30,000 yuan.

According to the NIO announcement, from June 12, 2023, the deposit will be paid to buy all NIO new cars. The first owner’s car rights will be adjusted to 6 years or 150,000 kilometers of vehicle quality assurance, and the three-power system will have 10 years of unlimited mileage quality assurance. At the same time, the free power exchange service will no longer be used as the basic car rights, and users can choose to pay for a single power exchange. NIO will then launch a flexible charging and changing service package.

According to the NIO official account

After the announcement of NIO’s price cut was released, it caused a lot of heated discussions. There are voices in the industry that the latest financial report shows that NIO is in a state of loss. Will the price cut further reduce the gross profit margin and make the loss more serious?

Red Star Capital Bureau noted that NIO’s entire system reduced by 30,000 yuan, which is different from Tesla’s previous simple price reduction. It is a package of rights and interests worth about 30,000 yuan for the new car. It is a lifetime free power exchange, vehicle quality assurance years and other rights and interests. NIO’s move will untie the rights and interests of power exchange and vehicle prices, bringing lower vehicle purchase prices.

For the vast majority of car buyers, it is a cost-effective deal to exchange 30,000 cash with the lifetime free power replacement rights 4 times a month. NIO users said that they have driven a NIO car with a 75-degree battery for one year, and they run almost 400 kilometers after each power change. The monthly power change cost is about 400 yuan, and the price reduction of 30,000 yuan is basically equivalent to the power change cost of 6 years. For users who have the conditions to install household charging piles, they can rely on low electricity prices (about 0.5 yuan/kWh for civilian valley power) to cover almost all charging needs. This 30,000 yuan is the cash saved directly.

From a financial standpoint, users were previously equivalent to paying off the rights and interests of free electricity replacement for life at one time, but NIO cannot immediately recognize this part of the amount as income, but can only amortize it over several years. In the financial report, this part of the income and gross profit cannot be visualized. Previously, NIO users had four free electricity replacement rights per month. After August 1, NIO will charge new users for electricity replacement, with an average cost of about 80-100 yuan per time, which will undoubtedly increase NIO’s income in electricity replacement. After excluding those owners who have owned cars for a long time and changed electricity a lot, the overall gross profit of NIO may increase.

Li Bin, founder, chairperson and CEO of NIO, once said: "With the delivery of higher-priced products in the second and third quarters of this year, the average transaction price and gross profit margin of bicycles will also recover. NIO is confident that it will achieve double-digit gross profit margin in the third quarter of this year and exceed 15% in the fourth quarter. At the same time, benefiting from the cost advantage brought by technology self-research and innovative supply chain, the gross profit target of the second-generation technology platform model remains at 20%."

The Red Star Capital Bureau noticed that in response to the news of the price reduction, Li Bin responded on the NIO APP: This adjustment has been discussed internally for a long time, and some users’ opinions and suggestions have also been listened to. There are too many aspects to consider, and they are still deliberating at three o’clock today. Now is the most appropriate time to release, and there must be some thoughtless aspects, and it is impossible to satisfy everyone.

Screenshot from NIO APP

On the evening of June 9, NIO announced the 2023 Quarter 1 financial report. Total revenue was 10.6765 billion yuan, an increase of 7.7% year-on-year and a decrease of 33.5% month-on-month. Net loss was 4.7395 billion yuan, an increase of 165.9% year-on-year and a decrease of 18.1% month-on-month.

As of press time, NIO-SW reported HK $63.8/share, up 5.8%, and its market value 106.50 billion HK $.

Kunshan: "Four chains power" to promote foreign trade to a new high

In the first 11 months of 2023, the total value of foreign trade import and export in Kunshan City, Jiangsu Province was 687 billion yuan, an increase of 8.8% year-on-year, accounting for 14.4% of the total value of import and export in Jiangsu Province. Among them, exports 459.78 billion yuan, an increase of 7.5% year-on-year, accounting for 15% of Jiangsu Province; imports 2272.2 billion yuan, an increase of 11.4% year-on-year, accounting for 13.3% of Jiangsu Province.

Since the beginning of this year, Kunshan has changed from passive to active and pressure to power, and foreign trade has shown a trend of steady progress and improvement in quality. In October, Kunshan’s monthly import and export crossed three billion steps, reaching 13 billion US dollars for the first time, driving the province’s foreign trade growth of 5.7 percentage points, and both imports and exports broke the historical monthly record. The latest released data shows that Kunshan’s import and export trade exceeded 10 billion US dollars for three consecutive months in September, October and November, and the monthly import and export value broke the historical record in September and October. Especially with the steady recovery of consumer electronics market demand, Kunshan’s foreign trade is expected to continue to improve and make Kunshan contributions to Jiangsu’s stabilizing the basic foreign trade market. When exploring the reasons for Kunshan’s foreign trade data to rise against the trend, the "industrial chain, value chain, innovation chain, service chain" and "four-chain force" have become the key to promoting Kunshan’s foreign trade to stabilize and improve.

Advance planning, deeply empower the "industrial chain"

Industry is the foundation of foreign trade, and strong industry makes strong trade. As a strong industrial city, the advantage of the industrial chain has always been Kunshan’s greatest advantage. In the field of electronic information industry alone, Kunshan has attracted more than 2,000 upstream and downstream enterprises to settle in, creating an electronic information industry chain with a total output value of over 600 billion yuan.

Kunshan Comprehensive Bonded Zone (Photo courtesy of Kunshan Financial Media Center)

Kunshan has continuously consolidated the foundation and advantages of the two hundred billion-level industrial clusters of electronic information and equipment manufacturing, and strives to hedge the uncertainty of the external environment with the certainty of its own development, and create more possibilities. In the first half of the year, foreign trade faced greater pressure. Kunshan paid close attention to the demand orientation and development trends of traditional foreign trade industries such as electronic information manufacturing, and launched a number of assistance measures to help enterprises reduce costs and increase efficiency.

At the same time, Kunshan also plays the strong magnetic force of leading enterprises. The development of leading enterprises is related to the stability of foreign trade, and also affects the development of a large number of small and medium-sized enterprises. On the one hand, Kunshan vigorously implements the electronic information "consolidation" project and the equipment manufacturing "strong foundation" project, accelerates the deep integration of the digital economy and advanced manufacturing industry, actively plays the role of midstream enterprises linking the previous and the next, promotes the integration and innovation of the industrial chain and supply chain, and continuously enhances the global industrial chain. It has the voice over. On the other hand, Kunshan has also continued to release the "magnet" role of "chain owner" enterprises, extending investment tentacles, broadening investment channels, gathering a number of industrial chain and supply chain core enterprises such as SAIC, Tesla, BYD, Ningde Times, NIO, Dow Chemical, etc., and fully tapping the investment resources of upstream and downstream related enterprises. It is worth mentioning that Kunshan is also actively targeting new opportunities and new markets, promoting the transformation of traditional manufacturing to digital manufacturing, comprehensively optimizing the integrated layout of "core-cloud-network-end-chain", and promoting the intelligent transformation, digital upgrading, digital Product Research & Development, and intelligent equipment manufacturing of enterprises as a whole. "With hard belt and soft, soft and hard", we will accelerate the formation of a 100 billion-level universe industry innovation cluster.

Climb higher and break through, expand and extend the "value chain"

In the face of weak global consumer electronics demand, Kunshan encourages enterprises to optimize product structure, help enterprises to undertake high-end laptop orders, guide AUO Electronics to expand the import scale of high-end equipment and advanced technology, and guide enterprises to stabilize the global consumer electronics market share and continue to explore emerging markets.

Good Child Children’s Products Co., Ltd. (Photo courtesy of Kunshan Rong Media Center)

Kunshan supports foreign trade enterprises to make good use of the two domestic and international markets and two resources, enhance the competitive advantage of technology, standards, brands, quality and service as the core, and achieve both domestic and foreign sales. Take the baby carriage king "Good Boy" as an example, the sales share of its "Evenflo" and "Cybex" brand child safety seats in North America and Europe are the first congeneric products, and the dominant position is gradually consolidating. "From January to October this year, our orders in the North American market increased by 12.4% year-on-year. We plan to continue to develop the North American and European markets next year." Wang Yong, general manager of the supply chain center of Good Boy Children’s Products Co., Ltd., said.

In addition, Kunshan also insists on leading development with major projects and competing for high-end resource elements globally. Vigorously carry out overseas investment promotion "Hundred Troupes War", from January to October, organized 32 investment promotion groups to Europe, Japan and South Korea and other countries and regions to carry out investment negotiations, successfully held 17 overseas investment promotion activities, visited more than 200 enterprises and institutions, and harvested more than 80 potential projects. Successfully held the 2023 Kunshan (Shenzhen) Investment Promotion Conference, signed 38 major projects with a total investment of 30.52 billion yuan. Vigorously attract a number of headquarters-type, leading-type, tax-source high-energy trading entities and "new quality productivity" projects, accelerate the signing and settlement of a number of key projects such as Coca-Cola, Dazheng Coffee, and Baoshi De, and through the "signing rate, completion rate, start-up rate, production rate, and production rate".

Regarding how to help new energy companies accelerate their "going overseas", Shi Yuhao, a customs officer from Kunshan Customs Inspection Division 1, shared his experience of helping: "We have established a’point-to-point ‘contact mechanism for key enterprises in our jurisdiction, and continue to provide technical services such as trade policy consultation, customs clearance and release of actual goods, to help enterprises seize opportunities to go overseas.

Take the initiative and accurately drive the "innovation chain"

Relying on the efficient vertically integrated industrial system and smooth bonded logistics channels of the Kunshan Comprehensive Bonded Zone, we will build an electronic product distribution center and expand the import of core components of the electronic information industry; continue to deepen the "bonded +" advantage, encourage enterprises to carry out bonded research and development business, guide processing trade enterprises to expand bonded inspection, bonded maintenance and other business models, and continuously enhance the resilience of the supply chain supply chain; link the "bonded area + professional market" function to build a digital commodity trading platform that integrates trading, settlement, clearing, finance, logistics and other functions.

Coffee Roasting Workshop (Photo courtesy of Kunshan Rongmedia Center)

Kunshan is also actively deploying hundreds of billions of coffee industry clusters, giving full play to the first-mover advantage of the import trade promotion innovation demonstration zone, promoting the development of the coffee industry towards clustering, diversification and high value-added fields, and actively creating new growth points for import trade. Kunshan has formed a chain around "one green bean" to "one cup of coffee", attracting more than 30 leading coffee companies such as Starbucks, Luckin, Yizheng, Zhongyuan of Vietnam, Louis Dreyfus of France, and Mitsui & Co., Ltd. of Japan to enter the chain. It has built an industrial ecosystem that integrates green bean trade, platform trading, R & D and roasting, brand sales, and coffee equipment, forming two major coffee industry characteristics: "whole industrial chain" and "internationalization". The city card of "China Coffee Silicon Valley" is about to emerge.

Based on the actual development and demand of the coffee industry, Kunshan uses "system + technology" two-wheel drive to tailor-made "three inspections and three releases" supervision mode for imported coffee inspection and quarantine. 90% of imported coffee goods have been "reported and inspected", and customs clearance efficiency has been significantly improved. In the first 11 months of this year, Kunshan achieved 31,200 tons of coffee beans imported, an increase of 213.6% year-on-year.

Kunshan is also grasping the strategic opportunity of the integrated development of the Yangtze River Delta region, giving full play to Kunshan’s geographical advantages, and building a "big channel" and "big platform" for opening up to the outside world in an all-round way. Optimize the connection between the Yangtze River Delta region and the ASEAN cargo trade platform, encourage bonded logistics enterprises to tap the trade potential under the premise of compliance with trade, and improve the efficiency of distribution and distribution. In the past six months, new imports and exports exceeded 9 billion yuan. Innovate to create a modern logistics center for the Yangtze River Delta International Airport, build a one-stop service platform for international air freight import and export, and use the innovative mode of direct access to the freight station to reduce the short-haul and multi-warehouse pickup links of trailers, achieve capacity integration, efficiency improvement, low-carbon emission reduction, seamlessly connect 111 airlines around the world, reach 1036 destinations around the world, smooth import and export freight channels, import and export speeds up by more than 10 hours and 5 hours respectively, cost reduction by more than 10%, and open up a new channel for air transportation of foreign trade enterprises.

Internally and externally, continuously optimize the "service chain"

"Kunshan service" is an important magic weapon for competing for orders, grasping projects and seeking development. Kunshan released the "Kunshan City Deepening" Kunruyi "Business Environment 2023 Innovation Action Plan" this year, and launched the "Investment and Business Protection Service Month" in advance; innovatively built a new government-enterprise communication platform "Kunruyi Enterprise Meeting Room", strengthened in-depth exchanges with enterprises, and stabilized development confidence; fully implemented the "28" new policies to promote the continuous recovery of the province’s economy, and introduced Kunshan City’s 45 policies and measures to promote the overall improvement of economic operation, 7 to stabilize foreign trade, and 12 to promote cross-border trade facilitation, and make greater efforts to promote the stability and improvement of the open economy; continue to build a development environment with "the lowest cost under the same conditions, the best service at the same cost, and the most market opportunities for the same service", and create the most attractive and competitive first choice for investment and entrepreneurship.

Taking supporting the development of the coffee industry as an example, Kunshan is neither a coffee origin nor a major consumer market. How can the coffee industry take root? In order to help Kunshan’s coffee industry connect with the world, Kunshan Customs implements a "customized" factor guarantee model. In response to the development needs of the coffee industry, a special class of coffee trade services has been established, and business experts have been selected to connect with coffee production enterprises, coordinate and solve the problems of enterprises in registration and filing, inspection and quarantine, and actual release. We provide "commissioner-style" services for the whole process of customs clearance. In this regard, Miao Shijun, head of Kunshan Real Gold Food Co., Ltd., said, "Under the guidance of Kunshan Customs, we quickly completed the filing of export food production enterprises, strengthened the quality control and safety management of key links in coffee roasting and processing, and effectively connected with the relevant laws and regulations of the target country. Further enhance the competitiveness of products in the international market. After the export road is completed, we will also rely on the advantages of Kunshan coffee’s entire industry chain to deepen cooperation with coffee leaders, so that Chinese coffee can enter the overseas market."

It is based on the continuous creation of a world-class environment that in the first three quarters of this year, 213 new foreign-funded projects were established in Kunshan, an increase of 6% year-on-year, and the actual use of foreign capital was 1.54 billion US dollars, an increase of 39.5% year-on-year. For Kunshan and enterprises, this is a fruitful result of two-way progress and mutual achievement.

Kunshan is a big foreign trade city and needs to have greater responsibility and action. Kunshan will take more hard-hitting and practical measures to fight for "order + market", focus on breaking through "project + business", continue to improve "service + policy", and firmly stabilize the basic foreign trade market.

Hardcore SUV market adds new strength, dark blue new blockbuster model G318 unveiled

  On March 18, on the Deep Blue Auto Super Range Extension Technology Evolution Day, Deep Blue Auto CEO Deng Chenghao unveiled the mystery of the Deep Blue G318 and released the technical evolution of Deep Blue Super Range Extension 2.0.

  Deng Chenghao claims that the first launch of the new blockbuster model, the dark blue G318, equipped with the dark blue super range extension 2.0, solves the pain of high energy consumption of traditional hard-core SUVs, and the new futuristic hard-core styling design of the new car also solves the pain of the similarity of the traditional hard-core styling. The high passability brought by the dual-motor rear four-wheel drive, the empty hanging + CDC + magic carpet, makes the driving experience like a flat ground, solves the pain of the traditional hard-core comfort difference, and the new design space solves the small pain of the traditional hard-core space. He defines the deep blue G318 as the industry’s first technology new hard-core SUV that solves the four major pain points of traditional hard-core.

Hardcore SUV market adds new strength, dark blue new blockbuster model G318 debut _fororder_image001

  At the same time, the technological evolution of Deep Blue Super Range 2.0 has once again enhanced the three user values of "super saving, super cool and super safe". Driven by the tide of new energy, Deep Blue Automobile is committed to developing electric technology and continuing to explore future technologies. Deep Blue Super Range also strives to become a green travel all-scenario solution that meets China’s national conditions.

  Why is the dark blue super extension called the "hybrid ceiling"?

  Deep Blue Super Range Extension 2.0 integrates Force Super Range Electric Drive 2.0, Force Intelligent Range Extension 2.0, and Golden Bell Battery 2.0. Among them, Force Super Range Extension 2.0 brings together many leading technologies, and the highest efficiency of electric drive assembly is 92.59%. Force Intelligent Range Extension 2.0 realizes that 1L of oil can generate 3.63 kWh of electricity, which greatly reduces the cost of using the car and allows users to save money more and more.

  Deep Blue Super Range Extension can realize pure electric drive, with natural rear drive characteristics, linear and smooth power output, and stable driving. In addition, empowered by technologies such as intelligent energy management strategy and non-inductive NVH with active control of howling frequency conversion, it can realize non-inductive start-stop and silent operation, bringing users a "tram feeling" driving experience.

  In terms of safety, Deep Blue Super Range uses Golden Bell Battery 2.0 technology to achieve real zero fire on 150,000 units. On March 6 in Xinzhou, Shanxi, Deep Blue S7 was rolled over by nearly 50 tons of trucks. The battery was firmly pressed on the ground and bore all the weight. There was no thermal runaway. Thanks to the high safety of Deep Blue Super Range Extension and Deep Blue S7, three passengers were protected.

Hardcore SUV market adds new strength, dark blue new blockbuster model G318 debut _fororder_image002

  Deep Blue Super Range Extension, fully autonomous and in-depth grasp of the core technology of the engine. In the global mass production of all-in-one products, the power density is relatively high, reaching 2.53kW/kg, the electric drive module is small in size, light in weight, and has good power output; the efficiency of the electric drive assembly is as high as 92.59%, allowing the car to drive farther; 0.2mm mass production of ultra-thin low-loss fixed rotor silicon steel sheet efficiency increased by 0.5%, the first mass production of micronucleus high-frequency pulse heating technology can quickly heat the battery in freezing weather, allowing the battery to achieve the best working state, reduce battery cold attenuation, and last longer; the oil-to-electricity conversion efficiency reaches 1L of oil, which can generate 3.63 kWh of electricity, with the least oil, generate the most electricity, and run the farthest mileage; the first 150mJ high-energy ignition system can make the fuel burn more fully, save more fuel, and have better power output; the 500bar ultra-high pressure fuel injection system has greater pressure and better atomization effect The combustion is more complete, the emissions are cleaner, and the fuel economy is more efficient; the stroke bore ratio of S/D = 1.45 and the low friction technology make the power efficiency higher, more fuel-efficient, and better power output; the battery manufacturing failure rate is PPB (1/1 billion) significantly ahead of the industry.

  The new blockbuster model, the dark blue G318, was unveiled

  In 1958, Changan built China’s first hardcore Jeep, establishing Changan Automobile’s leading position in the field of hardcore SUVs. Now with Deep Blue’s super range extension technology empowered, the new blockbuster model G318 has the strength to become a new hardcore SUV that can not only meet users’ hardcore needs, but also innovatively solve the four major pain points of traditional hardcore styling, poor comfort, small space and high energy consumption.

  Based on the design concept of Cybermetal and rough stone cutting, the new hardcore shape of the dark blue G318 is like a starship. The million-class luxury car configuration of double arms + multi-link + R-EPS steering system brings the sense of control of a city sedan; the luxury configuration of magic carpet + CDC + empty suspension makes the driving experience like walking on the ground, and the world-class master adjustment brings chassis performance and riding enjoyment, and the overall comfort is improved.

Hardcore SUV market adds new strength, dark blue new blockbuster model G318 debut _fororder_image003

  The dark blue G318 uses the innovative design of removing the girder to ensure the interior space. The load-bearing body achieves a torsional stiffness of 45000Nm/deg, far exceeding that of the Land Rover Defender, which can better absorb road vibration and provide users with a smoother riding experience. 5010 * 1985 * 1960mm large body size, 2880mm long wheelbase, 61% of the car’s occupancy rate, and 68% of the car’s occupancy rate, which exceeds the traditional hardcore model and brings a more spacious driving space.

Hardcore SUV market adds new strength, dark blue new blockbuster model G318 debut _fororder_image004

  All-round extension space, small bungalow on the second floor (300kg static load-bearing), rear-facing 1.6T qualification trailer, driving on searchlights, 6kW external discharge power, all showing that the dark blue G318 is leading the hard new fashion. Lower curb quality, coupled with the empowerment of the dark blue super range extension 2.0, the deep blue G318 feed fuel consumption is as low as 7.4L/100km (WLTC).

Hardcore SUV market adds new strength, dark blue new blockbuster model G318 debut _fororder_image005

  The new power system makes the deep blue G318 a true hard-core car, dual motor four-wheel drive, full working conditions true four-wheel drive, compared with traditional fuel four-wheel drive, the power response is twice as fast, supports OurHours true four-wheel drive, torque stepless distribution, a central stepless differential lock, intelligent opening, strong ability to get out of trouble, and can easily deal with extreme scenarios. A magnetic mechanical differential lock, compared with the traditional turbo worm push engagement structure, the response is doubled, the impact is reduced by 50%, and the pleasure of conquering obstacles can be obtained in comfort.

  The G318 integrates 16 driving modes, including 5 daily modes, 5 terrain modes (wading, snow, rough, mud, sand), 3 special scenarios (in-place U-turn, steep descent, off-road creep), and 3 energy management modes, covering a variety of terrain modes, making it easy to control a variety of road conditions.

Hardcore SUV market adds new strength, dark blue new blockbuster model G318 debut _fororder_image006

  Double wisharm + multi-link, with larger wheel working stroke, better anti-roll ability of the body, better road vibration isolation, so that the vehicle is more comfortable and better performance. The R-EPS steering system of circulating ball power is mostly used in million-level luxury cars or performance supercars. The real active magic carpet is equipped with a road scanning camera, anticipating obstacles in advance, automatically adjusting the soft and hard high and low states of the suspension, and always maintaining a comfortable driving experience. With the road preview exclusive algorithm, 3.40 trillion operations per second, the accuracy rate of road obstacle recognition is greater than 80%.

Hardcore SUV market adds new strength, dark blue new blockbuster model G318 debut _fororder_image007

  From the product power and technology point of view, deep blue G318 hard core capability, shape, comfort, large space, low energy consumption and other core values with 300,000 product strength, taking into account the market price blank range and deep blue car has always been "roll king" style, in order to sell deep blue G318 explosion, the main model price is expected to pull to 250,000 – 300,000 yuan range, if so, will be the entire flagship hard SUV market another "flip the table" move. (Text: Wu Yue, Figure: dark blue car)

Ele.me "Open a branch"

Article | "China Entrepreneur" reporter Wang Xueqi

Editing | Ma Yue

"It used to be a cooperation between relatives, now it is a cooperation with brothers and sisters." Zhong Xianwen, vice president of Ele.me, made such an analogy about the relationship between Ele.me and other departments of Alibaba. In April this year, Alibaba announced a full acquisition of Ele.me at a valuation of $9.50 billion. Previously, Alibaba and Ant Financial already owned 43% of Ele.me. Zhong Xianwen is a veteran of Ele.me and is currently responsible for traffic and user operations related to the Ele.me APP.

Before the acquisition, Ele.me had already begun to cooperate with various applications under Ali, and had cooperated with Taobao Ticket, and the Alipay interface had also been established. In Zhong Xianwen’s opinion, the relative cooperation was still based on the business model of rights replacement. After becoming a family, the efficiency of cooperation and communication improved a lot.

In the past five months, Ele.me has undergone changes, some of which are visible and some of which are hidden behind the scenes.

After Ele.me acquired Baidu takeaway in August last year, the takeaway market officially formed a situation where Ele.me and Meituan were divided. But Ele.me’s market share was not satisfactory. According to the "China Mobile Internet Industry Analysis and Development Report for the First Half of 2018" released by Trustdata big data, Meituan, Ele.me, and Baidu takeaway accounted for 59%, 36%, and 3% of the transaction volume in the takeaway market, respectively. Lack of traffic is considered to be the main reason why Ele.me is at a disadvantage.

This summer, Ele.me CEO Wang Lei told Reuters that he would invest 3 billion yuan between July and September, aiming to increase the market share to more than 50%. At the same time, Ele.me has also become an important player in the two major projects of World Cup marketing and 88VIP, which have linked multiple departments of Ali.

In August, Ali disclosed the establishment of a holding company in the second quarter of 2018. The company has two major businesses, Ele.me and Koubei, and will serve as the flagship of local life services in the future. It has received investment commitments of more than $3 billion from investors such as Alibaba and SoftBank Group.

Inside Ele.me, the model of "small front desk, big middle desk" has been promoted, and Ali-style transformation has been carried out from the organizational structure level. Ele.me is establishing a two-way empower relationship with Ali. On the one hand, Ali’s new retail stores are actively connected to the Hummingbird distribution system to improve their own capacity level. On the other hand, Ele.me connects to Ali’s handao and other super applications to obtain traffic empower.

All the changes are sending a signal that Ele.me is actively looking for various poses to integrate with Ali.

Since its establishment in 2008, Ele.me has spent its first decade fighting alone and exploring the market, with a cliff behind it and only a path forward. At the beginning of the second decade, this unicorn that grew up in the jungle of extensive growth has to learn how to integrate into a giant with its own system and complete methodology. This may be a story from the jungle to the city.

"It’s more tiring than starting a business," Xiong Bin, vice president of new retail at Ele.me, describes his current job status.

Xiong Bin (left), Vice President of Ele.me, Zhong Xianwen (right), Vice President of Ele.me. Source: Photo provided by the interviewee

Xiong Bin is an Ali veteran. After joining Alibaba in 2002, he went through B2B, Taobao, Taodiandian and other departments. He left Alibaba in 2015 and chose to start a business in the local life service field. Ali’s acquisition of Ele.me made him decide to sell his company and return to Ele.me with his team for a second venture.

In Xiong Bin’s eyes, in the past few years, the local life service market was still in a state of savage growth, and everyone was actively expanding. "Everyone is competing with who has the fastest financing, who has the most savage war, and can quickly complete urban expansion."

In 2014 and 2015, large and small giants have successively flooded into the O2O takeaway market. For a period of time, there were as many as a dozen takeaway platforms, competing to subsidize and burn money to compete for users. The takeaway market has encountered frequent problems in the process of brutal growth. Many platforms have removed unqualified merchants due to the lack of relevant catering qualifications.

With the acquisition of Baidu takeout by Ele.me and the merger of Meituan and Dianping, the once-blank market has been divided up by several giants and has begun to enter the era of intensive cultivation. "In the past, we emphasized how many resources to give in the local living market, how many cities to open, and how many businesses to expand. Now the focus is on using an overall plan to connect all levels of logistics, marketing, and membership to improve the user experience," Xiong Bin said.

In the era of intensive farming, user experience is placed in an increasingly important position. Compared with other sectors of Ali’s new retail, Ele.me’s hummingbird distribution system is a very important supplement to the offline scene. According to a city manager in East China of Ele.me, after the completion of the acquisition, Ele.me has invested more and more energy in the logistics side, and the company has repeatedly emphasized the need to form a closed loop between Ali’s new retail stores and Ele.me logistics.

Delivery speed has a significant impact on the experience of e-commerce users. From the first seven days of arrival to the 211 time limit proposed by JD.com, the upgrade of delivery speed is also accompanied by the improvement of user experience. However, the transformation of logistics capacity is time-consuming and labor-intensive, not a day’s work. Zhong Xianwen said that the standard of Hummingbird delivery is 30 minutes. If the merchant of Tmall and Taobao completes the connection in the future, it will bring important empowerment to the latter.

After the acquisition was completed, Hummingbird Distribution quickly connected with other business departments, connected to RT-Mart Supermarket’s order delivery in June, and cooperated with Retail and Ali Health in July to provide 24-hour local timely delivery services.

In the proposition of improving user experience, Meituan, the biggest competitor of Ele.me, is also not slack. In February this year, Meituan cooperated with Heilan Home to use a 1-hour timely delivery service. In July, it launched a flash sale business, striving to achieve 30-minute door-to-door delivery in categories such as supermarket fruits and vegetables.

But Xiong Bin disagrees, saying that the exploration in the field of clothing should not start from sales, but first establish scenarios such as mobile fitting that can really improve the user experience, "rather than doing gimmicks". In the face of the flash sale attack, Ali’s new retail business is also combining with the local life service business of Ele.me. "We like to see that the opponent has these business layouts, and after they do it, many merchants are also queuing up to cooperate with us."

Regarding the competition between Ele.me and Meituan, Zhang Yong once joked when acquiring Ele.me: Meituan is playing the second floor on Ele.me, and with Ali’s blessing, Ele.me is playing the second floor on Meituan.

However, Ele.me has Ali, Meituan also stands behind Tencent, 6th floor and 2nd floor, which may not be accurate. Xiong Bin bluntly said that he will keep an eye on the connection and empowerment between Tencent and Meituan, but the relationship between Ali and Ele.me can be said to be in harmony. In terms of closeness, Meituan is far inferior to Tencent, and Ali’s accumulation in the new retail field is also more profound. Xiong Bin said that he has set a very high KPI for himself, and smooth integration is the guarantee for the completion of this KPI.

The number of floors may be controversial, but Ele.me does stand taller than it did before it was acquired.

"In the past, when we fought with Meituan, Ele.me suffered the most because the other party fought in groups, and we fought alone, and one person could not beat ten people." Zhong Xianwen said so. As the person in charge of user operations, his anxiety was relieved by the arrival of helpers. Survival anxiety was relieved, and he thought more long-term about the business, focusing more on the nature of business.

From the cliff behind him to Ali behind him, Ele.me began to face new questions about how to better integrate into Ali.

Ele.me needs traffic, Ali has traffic, Alipay, Taobao, Youku, each of which is a large traffic user. The problem lies in the transmission of traffic.

In the past year, Zhong Xianwen has completed two major projects, connecting Ele.me to Alipay and Taobao. In the summer of 2017, Ele.me began to connect with Alipay, and in mid-October it was officially connected to Alipay. The "takeaway" icon on the Alipay page has also changed to "Ele.me takeaway".

Only with the interface, traffic did not flow in, because the user’s mind had not changed. For users, Alipay is a payment tool and a financial tool, and it is difficult to immediately form the habit of ordering takeout here. In order to change users’ usage habits, Zhong Xianwen and the team tried many methods, "to constantly adjust the posture and find the best entry point". After the team found that the "hard access" with only the interface and no operation was obviously not working, they began to consider the "soft access" method of leveraging users with marketing activities.

In early December, Ele.me and Alipay launched the "Alipay Takeaway Festival" activity, mobilizing millions of merchants to launch discount activities. In order to leverage the resources of merchants and Alipay, the operation team used the narrative of "opening a branch". Ele.me opened a branch in Alipay, and the opening promotion of the new store was reasonable. After the takeaway festival, the order volume generated by Ele.me on the Alipay interface increased by 300% compared with a month and a half ago.

In August this year, Ele.me officially connected to the mobile phone Taobao. Zhong Xianwen said that the consumption habits of handmade Amoy users are non-instant consumption, which is completely different from the takeaway consumption model. The operation team has tried a variety of access solutions, and there will be activities launched during Double Eleven, but it is not convenient to disclose for the time being.

Externally, it is necessary to change the user’s mindset, and internally, it is also necessary to adjust the operation concept according to the characteristics of the cooperation department.

"Alipay is a service, handshopping is a seller, and the business form is different, and the integration mode is also different." Zhong Xianwen further explained that Alipay regards Ele.me as a super large merchant, and the interface is also listed under the label of "third-party service". But Taobao, which is dominated by e-commerce genes, sees the merchants behind Ele.me, and wants to directly introduce merchants into the Taobao system.

Zhong Xianwen pointed out that finding the best entry point with Taobao needs to give Ele.me a stronger "goods" attribute. "For example, we can make a group buying coupon for a certain hamburger from KFC and sell it on Taobao, and the hamburger will become goods. This kind of thinking is not easy to understand when placed on Alipay."

In addition to the system that is more biased towards the underlying construction, there is another more direct way to empower traffic, the membership system.

On August 8 this year, Alibaba launched 88VIP membership. Super members with a naughty value higher than 1000 can spend 88 yuan in annual membership fees and receive membership benefits in multiple business categories under Alibaba, such as Ele.me Super Member and Youku VIP Member.

For Ele.me, the opening up of the membership system means that it can provide users with more accurate products and services.

Since Alibaba acquired Ele.me, almost everyone interviewed has mentioned the high degree of convergence in corporate culture between Ele.me and Alibaba.

"Ele.me is particularly hard-working and aggressive, like a young version of Ali. The average age of the employees is only 27 years old. When we joined Alibaba, the average age was about the same." Xiong Bin said that after coming to Ele.me, the pace of work is faster than when he started his own business. Sometimes after a meeting with the team at 6 or 7 pm, he received a plan early the next morning.

Under the premise of cultural convergence, Ali’s first task in transforming Ele.me was to transform the guerrillas into a regular army.

Xiong Bin implemented the organizational structure of Ali’s "large, medium and small front desk" in the Ele.me new retail department, and horizontally connected functional sectors such as data analytics to form a model of large, medium and small front desk. The front desk goes to the front line as an independent unit to fight, and the middle desk provides a complete system. "Ele.me used to talk about rapid innovation, and this process requires the establishment of a relatively independent organization, but it may affect the efficiency. Now integrate all these independent organizations, and it can adapt to the entire process of ecological integration."

Alibaba has also introduced new methodologies, such as a cross-team project management approach based on the three elements of "goals, strategy, and resources". This methodology is designed to enable employees to develop a consistent and comprehensive way of thinking when facing specific projects.

When asked whether these changes will affect Ele.me’s innovation ability, Xiong Bin responded that since the transformation, the innovation efficiency is at least not slow, and the response to market changes is not lagging behind. After the technology department is connected, some products do not need to be developed repeatedly, but the efficiency of the bottom layer has been improved.

In all kinds of internal and external changes, personnel stability is particularly important. When the acquisition was just completed, the chief human resources officer from Ali was worried that there would be a large-scale departure. But the situation was the opposite. Not many Ele.me employees chose to leave, but many Ali employees wanted to come. They felt that this was a brand new business with a lot of room for development. "Instead, we have to have some control over this matter. Most of the Ali employees who come here are responsible for communication and bridging between the two sides."

[Pudong] Lixi Middle School: Gathering "Cloud Teaching and Research" Shows "Depth" Empowering "Online Teaching" Full of "Temperature" – Week 7 Online In-depth Teaching and Research Activities of the S

In order to further implement the practice and research of the "New Teaching and Research for Core Literacy" project of the Teaching and Research Office of the Shanghai Municipal Education Commission, use teaching and research as a support system to promote the implementation of core literacy, actively explore new concepts and new paths for teachers’ professional development under the background of "double new" and "double reduction", focus on the important and difficult issues of students’ learning in the practice of "online teaching", ensure the quality of online education and teaching, and lead and support the orderly and efficient development of online teaching activities. From March 28 to April 2, 2022 (7th week), the teaching and research groups of various disciplines of Shanghai Lixi Middle School carried out cloud teaching and research activities aimed at moving towards "in-depth teaching and research".

Chinese

Collect problems · Focus on problems · Solve problems

Under the organization of Teacher Pan Fanjie, the Chinese teaching and research group conducted "Learning Interpretation of the Task List of in-depth teaching and research activities" and "Online teaching problems and experiences" to exchange and share. Before the teaching and research activities, the Chinese teaching and research group collected the actual problems of the teachers through questionnaires, which enhanced the pertinence of the activities and discussions; the technical experts in the group demonstrated the basic operation methods of the two main modes of online classroom and video conference for everyone, solving the technical confusion of some teachers.

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mathematics

Poly salary to promote teaching, innovation to promote learning, and focus on promoting research

The mathematics teaching and research group carried out online teaching and research under the organization of Mr. Shen Xiaqing. Teachers actively used online classrooms to enhance effective interaction between teachers and students; used class simulcast to increase healthy competition in classes; used small videos to help students extend classroom knowledge; used "face-to-face teachers" resources to supplement classroom knowledge. The team members also focused on teaching practical issues such as "answer efficiency", "identical homework" and "teaching time" for in-depth discussions.

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English

Content integration, resource sharing, path unification

Under the organization of Mr. Min Liping, the English teaching and research group shared the experience and experience of online teaching of each lesson preparation group. Give more flexibility to the teaching progress, integrate and sort out knowledge according to the important and difficult points of teaching; try to use small functions to make online classroom interaction forms diverse; real-time unified progress, share teaching resources, find problems and solve problems at any time; adhere to the teaching path of "resource utilization – technology application – clear focus – homework implementation – tutoring follow-up".

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physics

What to learn · How to learn · How to learn

The physics teaching and research group held a discussion under the organization of teacher Xu Jianjun. The group reached a consensus: to shift from standardizing teachers’ "teaching" to focusing on students’ "learning"; to give full play to the interactive function of online classrooms, adjust the rhythm of the classroom, and with the help of a caring tutor group, set up an online learning group to guide students to record problem-solving videos and mobilize students’ subjective initiative. Teacher Wu Yaozhong, a teaching and researcher, affirmed the teachers’ online teaching strategies and methods, and put forward valuable suggestions for follow-up teaching. Principal Zhu Guohua recognized the standardization and effectiveness of online teaching, and hoped that the teachers of the physics group would continue to work hard, overcome difficulties, break through themselves, and achieve great results.

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chemistry

Resource Sharing · Plan Symbiosis · Technology Sharing

The chemistry teaching and research group held a seminar under the organization of Mr. Zhang Liou. First, unified progress to realize the sharing of teaching resources within the group; second, discuss the review plan for the next stage, and the special topic review needs to be adjusted to increase teacher-student interaction. Exercise students’ problem-solving ability and do a good job in the training of excellence; third, the members of the group introduced the online class equipment and teaching methods, and recommended successful experiences, such as the use of touch screen pens, pad handwriting functions, and the assistance of digital pads, which can make the dynamic presentation of the classroom richer.

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Sports

Standard demonstration · Clear explanation · Effective interaction

The physical education teaching and research group held a seminar under the organization of Mr. Wang Zhong. Members of the group believe that for online teaching, teachers should interact more with students, ask students to strengthen exercise and improve physical fitness; they should pay attention to the psychological state of students, grasp the characteristics of physical exercise, do a good job of demonstration, explain clearly, alleviate students’ bad emotions caused by epidemic isolation, and stimulate students’ love for sports.

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Information Technology

Unified progress · Optimized strategy · Sharing experience

The information technology teaching and research group held a seminar under the organization of Mr. Wei Lan. The members of the group unified the teaching progress and optimized the solution strategies for teaching problems; shared each member’s online teaching experience and learned from each other’s strengths and weaknesses; in addition, the teachers discussed the research tasks of the interdisciplinary in-depth teaching and research project together.

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interdisciplinary

Integrate resources, focus on results, and meet needs

The interdisciplinary teaching and research group held a seminar activity under the organization of Mr. Wang Hui. Members shared the specific situation of online teaching. Combined with their own materials, compare the content of the air class, adopt a self-teaching mode, and ask questions and interact in the form of online multiple-choice questions; interdisciplinary teaching adopts the method of geography special topic module teaching; make better preparations than offline teaching, design a "learning task list", and pay full attention to students’ "learning"; the group shares learning materials from time to time to meet the needs of students at different levels.

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Dao law

Fixed form · Selected content · Focus on process

The Taoist teaching and research group carried out seminar activities under the organization of Mr. Huang Wei. In terms of teaching form, it currently takes the form of multi-class live broadcast; in terms of teaching content, according to the requirements of the high school entrance examination question type, select, refine, and concentrate on homework questions, which are expensive "fine" and not expensive "too much"; students’ homework should also be selected and carefully approved, and the thinking and ability training of reviewing and solving problems should be strengthened; in the teaching process, attention should be paid to students’ participation and follow-up Q & A services.

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history

Orderly advancement · Thematic sorting · Path guidance

The history teaching and research group carried out research activities under the organization of Teacher Zheng Lili. History is divided into two grades. The first grade mainly solves progress problems; the second grade mainly solves special review problems. Based on the sorting out of the knowledge points of the textbook, the mind map is used to help students sort out the internal logical relationship; focusing on the normative guidance of problem-solving, teachers need to form a certain guidance of answering methods, select and refine, and refine.

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art

Problem Exploration · Strategy Exploration · Technology Exploration

The art teaching and research group held a seminar in the form of two groups of art and music under the organization of two teachers, Fu Wenshou and Xie Chong. The teachers of the art group discussed the problems and solutions encountered in the online class, and shared methods to reduce the difficulty of teaching technology; the teachers of the music group focused on "Exploration of the implementation strategies of teaching design in small and micro units – taking the sixth grade’National Flower Garden ‘unit as an example" to conduct a seminar on teaching design, and took "Yao Dance Music" as an example to discuss and explore the application of educational technology in online teaching.

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"Water accumulates and fish gather, wood is lush and birds gather." In response to online teaching in the context of the epidemic, the teachers of the teaching and research groups of various disciplines in the school are think tank support groups, problem diagnosticians, and strategy analysts. Work together to increase efficiency, wait for the cloud, and use collective wisdom and team strength to help the teaching work advance steadily and promote in-depth teaching and research to achieve practical results. When we click the mouse, we also click on spring; when we link students, we also link the future. Let us welcome spring and walk towards the sun with courage and hope!

In February, Celeste new energy vehicles increased by 360% year-on-year. Aito asked the world to win the monthly sales champion of new forces.

  On March 1st, Cyrus Group Co., Ltd. (601127.SH hereinafter referred to as "Cyrus") released the February production and sales express. The data shows that in February, the sales volume of Sailis new energy vehicles reached 30,257, a year-on-year increase of 360.04%; From January to February, 2024, the sales volume of Celeste new energy vehicles totaled 67,095 vehicles, up 485.37% year-on-year.

  In February, 2024, AITO asked the whole department to deliver 21,142 new cars, AITO asked the new M7 to deliver 18,479 cars in a single month, with a cumulative delivery of more than 100,000 cars. The cumulative delivery of the M7 in the asking sector was set to exceed 150,000 cars, leading the first monthly sales list of new forces in China market with absolute advantage, creating a new record for the sales of single cars of China automobile brands.

  Cyrus ranks among the top five luxury brands in the world.

  Since the beginning of this year, AITO has shown sustained upward momentum. According to the data, from January 1st to February 18th, 2024, Celestial World ranked among the top five luxury brands in China market with a cumulative sales volume of 46,200 vehicles. It is worth mentioning that in the sales list of the fourth week of February (February 19-February 25), Celestial World ranked among the TOP3 luxury brands with a weekly sales volume of 7,200 vehicles, beating the traditional luxury cars Audi and Mercedes-Benz, second only to Tesla and BMW, becoming the highest ranked China brand in the luxury brand list.

  On February 26th, the nationwide delivery of Celestial M9 was fully launched, and over 100 cities officially ushered in large-scale delivery. As the latest product jointly built by Celestial Automobile and Huawei for three years, Celestial M9 has been well recognized by users, and it has exceeded 50,000 vehicles in 62 days since its listing. In addition, all versions of AITO Wujie M5/ New M7 have also started to speed up delivery, and the car can be delivered in 2-4 weeks at the earliest. It is reported that at present, Sailis has more than 700 experience centers and more than 200 user centers in 220 cities, bringing users a better product and service experience.

  Super factory completed and put into use institutions continue to be optimistic

  On February 5th, Sailis Auto Super Factory was completed and put into use. It is built in accordance with international leading standards and industrial Internet requirements, and has four characteristics of high efficiency, intelligence, cutting-edge and green, which has become a new benchmark for China new energy automobile intelligent manufacturing factory. The factory has more than 3,000 robots intelligently cooperating to realize 100% automation of key processes; Use the industry’s first quality automation testing technology to achieve 100% quality monitoring traceability; Through the world’s leading 9000T die casting machine, the highest integration among integrated die casting parts is realized; At the same time, it also achieved the highest production efficiency in the world.

  Zhang Xinghai, chairman (founder) of Celestial Group, said: "The M9 is a high-end luxury boutique model that we have built with our heart, adhering to the tenet of’ taking users as the center and serving users wholeheartedly’. We will continue to iterate and improve, improve at the fastest speed, and meet the needs of all users as much as possible. Let the high-end be higher, the luxury be more luxurious, and the intelligence be smarter! "

  Many institutional research reports are also optimistic about the future market performance of Celestial M9. Huaxin Securities Research Report pointed out that at present, the M9 has been delivered, and the new model is expected to continue to exert its strength. According to the latest research report of Founder Securities, with the increasing proportion of sales in AITO’s brand after the production capacity of M9 climbs, the volume and price of Cyrus are driven upward in Shuang Sheng, and it is expected that the profit contribution of models will turn a profit in June 2024 at the earliest, and the profit cycle will be started in the third quarter of 2024.

2023 Dragon Bomb 256,800 yuan listed Great Wall Gun Super Pickup lineup stunning appearance at Chongqing Auto Show.

On June 10th, 2023 new product launch conference was launched in Chongqing International Automobile Exhibition in 2023. Two series of new models, guns with guns and bombs, were unveiled at the auto show. Heavyweight modifications were made to create 2023 dragon bombs, 2023 passenger guns of global smart luxury pickup trucks and 2023 commercial guns of global smart luxury commercial pickup trucks, which showed their hard-core strength.

Heavyweight modification to create the ultimate experience of 2023 dragon bullet hard-core off-road

Great Wall Gun insists on taking users as the center and will carry out co-creation to the end. This auto show brought a customized model named Desert King 2023 Dragon Bomb jointly created by Great Wall Gun and Yuanda Shelby, which was another heavyweight modified model created by Great Wall Gun after it hatched a series of bomb products that users loved, such as black bombs, dragon bombs and fire bombs.

The official guide price of the 2023 Dragon Bomb is 256,800 yuan, which can be ordered through the Great Wall Gun APP. The top 200 users of the Dragon Bomb have the right to give away the anti-roll frame, which is the ultimate hard-core off-road.

This performance beast combines the spirit of cross-country racing with the Great Wall Gun, which also contains powerful genes, and is committed to providing the ultimate experience for top pickup players in terms of appearance, performance, power and configuration.

The design is domineering and wild. The front face design of "rattlesnake" has more visual attack power; "Wings of Vultures" competitive wheel eyebrows and sharp-edged shapes are more suitable for the adjusted wheel track of 1738mm; At the same time, there are "Baha ‘i fanatic" competitive front and rear bars, and the approach angle and departure angle of the whole vehicle are increased to 32/23, all of which reflect the dragon bomb’s enthusiastic pursuit of competition.

Off-road performance has been comprehensively improved. The 2023 Dragon Bomb is equipped with 285/70R17 Bailuchi KO2 tires and KMC wheels, which has better passability, smoother turning stability; K-man high-performance shock absorber, 8-stage damping adjustable, based on the user’s various road conditions, to ensure comfort without losing off-road fun.

In addition, the whole vehicle is raised by 1.5 inches, and the chassis of the model has been modified and strengthened to improve off-road capability and cope with multi-environment and complex terrain and road conditions, and it is compatible with the comfort of urban roads, retaining the original excellent design concept and giving players the confidence to go wild if they want to.

The momentum is invincible. The 2023 Dragon Bomb is equipped with 2.0T+8AT part-time 4wd power system, which responds to the outdoor off-road demand at any time, adopts high-power engine, and the maximum net power is increased to 160kW and the maximum net torque is increased to 380N·m, so it can easily cope with the outdoor complex terrain and wading through mountains and rivers.

Luxury technology is within reach. Simple horizontal extension cockpit design, immersive outdoor comfort zone; At the same time, it adopts the brand-new 7-inch instrument +12.3-inch Zhilian large screen double suspension design to provide high-end luxury driving experience for hardcore players.

The arrival of the 2023 Dragon Bullet, a heavyweight modified model, will once again lead the off-road trend of pickup trucks, and together with more hard-core players who love off-road, create the story of ultimate conquest in the vast world!

Brand upgrade in an all-round way Great Wall gun category evolution

As the leader of pickup trucks, Great Wall pickup trucks ranked first in sales for 25 years in a row, with global cumulative sales exceeding 2 million, and its market share exceeding 50% from January to May in 2023. Great Wall Gun has been on the market for more than three years, with a cumulative sales volume of over 10,000 in 33 months, ranking first in the domestic pickup truck market and becoming the first high-end pickup truck brand in China to break through 450,000 units.

Great Wall Gun insists on category innovation to promote market expansion and continuously enhance category value. At present, the brand of Great Wall Gun has been upgraded in an all-round way, and it has evolved into two categories: passenger leisure and fashion business.

The passenger leisure category covers medium-sized, large-sized and full-size pickups in an all-round way, and is committed to meeting the diversified and personalized needs of users, improving the quality of life of users around the world, and empowering pickup trucks to be culturally upward. Fashion business goods focus on building compact and medium-sized pickup trucks, and are committed to building a car of value and people’s livelihood for thousands of industries, helping users to have good business and a better life!

The global champion strength of intelligent luxury pickup truck is upgraded again.

The Great Wall Gun redefines the pickup truck, endows it with riding value, and initiates a new era of riding and globalization of pickup trucks in China. The global smart luxury pickup truck-2023 passenger gun, which was unveiled at this auto show, is a new and upgraded Great Wall gun with advanced strength and smarter! More luxurious! Safer! More comfortable!

The official guide price of 2023 passenger gun gasoline model is 126,800-159,800 yuan, and the official guide price of diesel model is 133,800-166,800 yuan. At the same time, car buyers will also enjoy five major gifts: financial gift, replacement gift, interconnection gift, service gift and recommendation gift. The sincerity of increasing the allocation and not increasing the price is full!

The 2023 passenger gun, built on the world’s leading intelligent professional off-road platform, has been tested in 76 kinds of global roads and extreme environments such as "extremely cold, extremely hot and plateau", with a test mileage of over 6 million kilometers and leading technical performance at the same level. It also continues to evolve in terms of higher intelligence. The driving control is upgraded to L2+ intelligent driving assistance level, equipped with a new generation of vehicle networking, and supports remote vehicle control. It is the first of its kind to be equipped with a fully automatic parking system, freeing hands and getting it done with one button.??

In order to fully meet the needs of users, the 2023 passenger gun strives to create a new luxury technology experience, adopting a brand-new exquisite technology wind interior, with a large-area soft coating, a 7-inch color LCD instrument+a 12.3-inch Zhilian touch screen double suspension design, and a laser carving process luminous decorative board, which is bursting with technology. Large storage boxes are added on the left and right sides of the dashboard to increase storage space, leading the same level.

At the same time, the 2023 passenger gun is also designed with armor-level safety protection, with 6 airbags, 14 radars, high-strength door anti-collision beam, high-strength cage body, etc., to ensure the safety of the owner to the maximum extent; Highly integrated body stability system, with multiple functions such as rollover prevention, up and down slope assistance, dynamic direction stability, etc. Ultra-practical low-speed emergency braking, front and rear collision warning and other functions are all available to protect every step of the trip.

In terms of comfort, the 2023 passenger gun is comparable to the SUV of the same class. Equipped with 2.0T+8AT gold power combination, matching five-bar rear suspension and TOD intelligent four-wheel drive, as well as upgrading four-door one-button lifting & anti-pinch & automatic window closing, 50W wireless fast charging and other intimate equipment, making travel convenient and efficient; Equipped with the first hidden container boarding pedal in China, it is convenient and comfortable to get on and off. In addition, the passenger gun comes with the electronic lock of the container, which is really worry-free and reliable.

The 2023 passenger gun can also realize multi-purpose of one car and expand diverse life. The original factory has its own towing qualification, which can tow RV, Luya boat, motorcycle, etc. A number of refitting interfaces and original car switches are reserved to meet the diverse refitting needs of users.

The arrival of the 2023 passenger gun will once again break through the traditional cognition of Chinese people on pickup trucks, lead the value of pickup trucks in China to jump upward, and let everyone who loves life live a vast and amazing life.

Five strengths of global smart luxury commercial pickup trucks are renewed

Great Wall Gun is the best pickup truck in China, constantly setting a new record for pickup trucks in China! Among them, commercial guns have won the trust of thousands of users by virtue of their superior product strength, ranking first in the sales of single models in the pickup truck market in China.

At present, standing at the starting point of the new era, commercial guns are renewed and upgraded again! Global intelligent luxury pickup truck-2023 commercial gun has become the preferred business partner and intelligent assistant of business elites in the new era with five leading strengths of "super enjoyment of driving, super power, super safety, super load bearing and super ingenuity", which is safer, more comfortable, more worry-free and more efficient!

The official guide price of 2023 commercial gun gasoline models is 99,800 yuan-135,800 yuan, and the official guide price of diesel models is 106,800 yuan-142,800 yuan; In addition, car buyers can also enjoy four gifts: financial gift, replacement gift, service gift and recommendation gift! Great value for money!

Super enjoy driving, smart and comfortable. The front face of the 2023 commercial gun is completely refreshed, with a large area of V-shaped mesh matrix mesh, which is fashionable in atmosphere; The brand-new upgrade of the interior, smart floating screen design, 12.3-inch Zhilian large screen blessing, large-area soft material coating, etc., will surely trigger a comprehensive benchmarking follow-up by friends; There are also high-level intelligent equipment such as keyless entry+one-button start, automatic parking, electric sunroof, automatic headlights, and a new generation of intelligent car networking, which supports AI intelligent voice, vehicle remote control, FOTA wireless upgrade, online map, smart parking and other functions. The technology is convenient. You can also send and receive WeChat, brush Tik Tok, K songs, etc., with rich entertainment functions.

Super power, surging and reliable. Equipped with 2.0T "China Heart" top ten engines, the power of gasoline and diesel reaches 70kW/L and 60kW/L, which is powerful. Together with 6MT/8AT transmission, it forms a golden power combination, which is more powerful, more economical, more environmentally friendly and more reliable. The shift at the same level is the smoothest and the response speed is the fastest. Equipped with Borgwarner electronic control part-time 4wd, it is easy to operate and fearless of all rugged road conditions on the road to wealth creation.

Super safe, guarding all the way. Commercial guns have benchmark-level safety equipment. In terms of active safety, the whole system comes standard with ESP, integrating brake assistance, traction control, uphill assistance, steep slope descent and other functions. At the same time, it is equipped with right front blind spot monitoring, tire pressure monitoring and other configurations, and it is optional to install a 360-view system with megapixels to prevent accidents to the maximum extent. In terms of passive safety, it is equipped with four airbags, and the proportion of high-strength steel in the whole vehicle is as high as 48%. The high-strength cage body, high-strength door anti-collision beam, automatic collision unlocking and automatic fuel cut-off ensure the safety of users in all directions.

Super bearing capacity, high efficiency and convenience. Great Wall is the first enterprise to apply the passenger car standard to pickup trucks. No matter the design, manufacture and production are made according to the passenger car standard, the body is made of galvanized sheet, and the salt spray test lasts for more than 1000 hours. The chassis is made of high-strength trapezoidal frame and leaf spring, which leads the same level in bearing capacity. Only by loading more can you earn more! Standard metal anti-roll frame, effectively protecting vehicle safety, adding external rope hook, making it more convenient to fix items; Equipped with metal chassis guard, it is easy to deal with all kinds of bumpy roads on the road to wealth creation. The original factory has its own traction qualification to expand diverse lives.

Excellent ingenuity and convenient service. Great Wall Gun is not only a leading product, but also a benchmark in the industry. Great Wall pickup truck has the most complete sales and service system of pickup truck brand, with 2000+ sales and service outlets nationwide, which is more convenient for sales and service, and provides 24-hour rescue service, which is trusted by millions of users.

The arrival of the 2023 commercial gun will empower the pickup truck to make a breakthrough in commercial value, and create a better future together with thousands of new era strugglers in Qian Qian!

Great Wall Gun continues to make great efforts in category innovation, and constantly meets the diversified car demand of users with a more excellent product experience. In the future, the Great Wall Gun will continue to fully evolve into two categories: passenger leisure and fashion business. The global product layout of the Great Wall Gun will achieve full lineup, full scene and full price coverage.

The king of pickup trucks has a worldwide reputation. The Great Wall Gun will continue to lead the pickup truck culture in China to upgrade and make pickup trucks really popular.