Recently, the Buick Plus 28T two-wheel drive luxury version of the real car exposure, the new car will be a new entry-level model, the price may be less than 229,900.

The shape is naturally the same as the current model. The front face horizontal flying wing grille: it adopts a parametric horizontal flying wing design, which maximally raises the width of the front face and presents an extraordinary aura. The split headlight design combines the classic wing-spreading shape of Buick. The daytime running lights use light curtain technology to show the technical texture and create a more uniform lighting effect. The logo has been replaced with the latest design, and the fog light area adopts a C-shaped sharp design to further enhance the sense of movement.

In terms of size, the current Envision Plus has a length, width and height of 4822/1883/1695 (1705) mm and a wheelbase of 2833 mm.

The wing-spreading tail lights in the rear part of the car are interspersed with electroplated trim strips, which is elegant and extravagant, and the streamer steering effect is particularly dynamic and beautiful.

The interior is also a continuation of the current model, with a lot of soft material coverage. The central control is equipped with a curved integrated screen design, which is technologically sound.

In terms of configuration, the new car has eliminated features such as front radar, lane centering, and so on compared to the current model.

In terms of power, you can refer to the current model, equipped with a 2.0T engine and a 48-volt light mixing system, with a maximum power of 174 kW and a peak torque of 350 Nm. The transmission is matched with a 9-speed automatic transmission.

The Buick Envision Plus has performed well in the mid-size SUV market, selling 3,635 units last month, and if the price of the new entry-level model is a surprise, it is expected to increase sales.

On August 24, 2022, the "Windless Aerobic TAN Origin Traceability – 2022-2023 China Air Conditioning Industry Summit Forum" was held in Harbin under the guidance of China Household Appliances Association and sponsored by China Home Appliances Network.CC,Haier, Highly,Hisense, Kelon, Konka, Leader, Meibo,beautiful,Panasonic,TCLRepresentatives of mainstream household air-conditioning brands and core component manufacturers, as well as forumsexclusivechannel partnerJD.comHome appliances, data support agency GfK Zhongyikang, etc. gathered together to talk "double carbon"The innovative development and mission of the air-conditioning industry under the goal."

High temperature "heating" air conditioner market

Although autumn has begun, many places in China are still under high temperature during the "end" stage of the "dog days".How to cool the body and the heart? The air conditioner is obviouslymostA good choice. Therefore, in the "roasting" mode, refrigeration appliances represented by air conditioners ushered in a high-temperature "hot period" in July and August. According to GfK Zhongyikang monitoring data, the retail sales and retail sales of air conditioners in the online market in July increased by 41.6% and 44.6% year-on-year respectively. Entering August, the retail sales and retail sales of air conditioners in the online market in the past two weeks increased by 76.0% and 79.4% year-on-year respectively; the offline market volume and volume also achieved a year-on-year growth of over 20%. Such asbeautiful,HaierOaks,Hisense, Kelon,TCL,PanasonicMany air-conditioning companies, such as Meibo, Changhong, and Konka, have reported to China State Grid that during the peak air-conditioning season in the past two months, there are many high-temperature days and a wide range of coverage, and the sales of the company’s air-conditioning products have increased significantly compared with before. "The installation masters are running at full capacity," said the relevant person in charge of the air-conditioning company.

However, the staged bright performance of the air conditioner market is in sharp contrast to the cold industry in the first half of the year and even the entire 2022 cold year. According to GfK Zhongyikang data, in the first half of this year, the retail volume and retail sales of the household air conditioner market decreased by 20.1% and 14.1% respectively year-on-year; in the whole 2022 cold year, the retail volume and retail sales of the air conditioner market were 43.57 million units and 150.50 billion yuan, respectively, down 15.0% and 9.2% year-on-year. "The economic downturn and epidemic directly affect the income level of consumers, so the consumer confidence index decreased year-on-year." In the opinion of Peng Xiandong, general manager of GfK Zhongyikang’s large home appliance division, this directly affects consumers’ expectations for the home appliance market and the execution of purchasing power. The corresponding air conditioner is also affected and has declined significantly. In addition, air conditioners have further entered the existing market, with less new demand. Based on this, Peng Xiandong judged that the air conditioner industry will enter a low-speed era in the next two years, with incremental scarcity. The market core will shift from the pursuit of scale to the pursuit of quality.

Peng Xiandong, General Manager of GfK Zhongyikang Home Appliances Division

Wang Lei, secretary-general of the China Household Appliances Association, also believes that this is the result of multiple factors. Including the repeated regional epidemics across the country in the first half of the year, which put pressure on the industrial supply chain and had a negative impact on the demand for air conditioners; in addition, the real estate industry is also a factor strongly related to the demand for air conditioners; furthermore, the more important objective factor is that the popularity of household air conditioners has basically reached a high level. According to the National Bureau of Statistics, the number of air conditioners owned by 100 households in China reached 117.7 units by the end of 2020, of which 149.6 were owned by 100 households in cities and towns. " At present, the social stock of air conditioners in the country has reached 540 million units, and the stock update has become the main body of current and future market consumption demand. This has a direct and long-term impact on the size of the air conditioner market. "

Wang Lei, Secretary General of China Household Appliances Association

Seeking "new" kinetic energy under the stock

When the industry enters a new development stage dominated by "stock replacement", in terms of the external operating environment, as analyzed by Wei Lai, Chief Research Officer of Zijin Tianfeng Futures, raw material prices, which account for more than 85% of the cost of air conditioners, are getting rid of the traditional cyclical framework and reshaping into a new cycle, corresponding to the reshaping of the cyclical characteristics of air conditioners at both ends of cost and consumption. Under the characteristics of the new cycle, the market prospect of air conditioners is still broad, but it needs to seek new growth momentum inward.

So, where is the new way to break the growth? Perhaps, as described by Wang Lei and various air-conditioning companies – intelligently empowered, more energy-saving, comfortable, healthy, and high-end air conditioners will bring more enthusiasm and demand from consumers, and will also bring impetus to the technological progress and product innovation of the air-conditioning industry and industry. Recent consumer street research by China Home Appliance Network also shows that price is no longer the main factor in determining consumers to buy air conditioners. When considering "replacing" air conditioners, most consumers focus on products with more energy-saving, intelligent, comfortable, healthy and other functional characteristics. Such as fresh air conditioners, global windless air conditioners, washing air conditioners, sterilization health, self-cleaning air conditioners, sleep air conditioners, etc. are all their favorite products.

The change in consumer demand is reflected in the retail end, according to GfK Zhongyikang data, 2022 cold year, the new level of energy efficiency air conditioning sales in the online channel accounted for about 67.9%, the proportion of offline reached 78.7%; fresh air air conditioning online penetration rate of about 2.3%, an increase of 283%, offline penetration rate of about 6.7%, an increase of 59.5%. JD.com platform data also shows that in the first half of the year, the turnover of JD.com platform fresh air conditioners was 5.5 times that of the same period last year, and fresh air conditioners also showed characteristics higher than the broader market by 32%; during the "618" period, the turnover of JD.com platform fresh air conditioners increased by 460% year-on-year; JD.com home appliances "815" anniversary peak period of 28 hours, the turnover of fresh air conditioners increased by more than 4 times year-on-year. " The JD.com platform always takes consumer demand as the first starting point. "Zhang Yiming, marketing director of JD.com’s home appliance air conditioner business department, said that through active market research, JD.com home appliances and various air conditioner brands work closely together, with the same perspective. They all believe that the new air conditioner in the new product may be the next growth point of the industry." Combined with the trend of purification and health, the increase in fresh air volume will be more suitable for the needs of life scenes. "

At the enterprise level, it can be seen that more air-conditioning companies are also launching products with corresponding functions or even complex functions through technological innovation to meet the diverse, personalized and quality consumer needs of consumers. Taking Casarte air conditioners as an example, at the meeting, Yan Bo, general manager of Casarte air conditioners, introduced that due to the different air pain points faced by different climates and seasons, Casarte innovatively launched the luxury version of Yunding air conditioners. "The positioning of this product is’original ecological air maintenance expert ‘, hoping to achieve the maintenance of people, the maintenance of the environment, and the maintenance of high-end lifestyles through air conditioning. Overall, what we want to do is to pass on the high-end, comfort and wisdom of Casarte air conditioners to consumers."

Midea air conditioners are also working to increase the average price of the entire industry through air conditioner products that highlight health, comfort, and intelligence. Oaks, Hisense, TCL, Konka, Panasonic and other related air conditioning brands are focusing on the fresh air track, such as Oaks launched a four-season fresh air air conditioner that can change fresh oxygen in the whole house for 1 hour, Hisense launched a high-end air environment from six dimensions such as temperature, humidity, wind feeling, purification, etc. Brilliant C200, TCL launched a small blue wing II with a large fresh air volume of 60 cubic meters per hour without secondary wall punching holes, Konka launched a smart fresh air conditioner with dual-drive hybrid fresh air system, Panasonic Anchor Health and Smart launched a series of alcohol air, etc. They all meet consumers’ needs for a healthier and more comfortable home life experience through differentiated fresh air conditioners. Kelon Air Conditioning customizes more convenient, comfortable and healthy sleep solutions for users by creating smart sleep air scenes. In addition to home split machines, Meibo Air Conditioning has found sub-sectors such as wearable air conditioners and vehicle air conditioners to seek differentiation. Changhong Air Conditioning has built a healthy living atmosphere for consumers through the creation of a fresh environment with years of accumulation of dust-free technology.

As a company specializing in thermal management and environmental control, Invik has accumulated rich technical experience in the field of precision environmental control. Wang Xiangdong, general manager of Shenzhen Invik Health and Environment Technology Co., Ltd., believes that at present, "health" should be the main breakthrough in air conditioning innovation. In this regard, EBC Yingbao advocates "safe and healthy comfort is the real comfort", and advocates fundamentally solving the comfort problem of the air environment under the premise of safety and health, and is a one-machine solution to the air environment problem. "Our air environment machine adjusts or removes the temperature, humidity, cleanliness, various pollutants, microorganisms and other indicators of the air environment dynamically, harmoniously and synchronously through multi-dimensional phase control technology, and is committed to providing customers with a safe, healthy and comfortable air environment."

It can be seen that the product evaluation dimension based on factors such as energy conservation, health, and comfort is becoming the core driving force for the reform and upgrading of China’s air-conditioning supply side. Therefore, the three major product trends in the air conditioning industry in 2023 proposed at the summit forum, namely the "energy-saving" product trend represented by Midea Xuanyao 2-horse hanging machine, Oxmos Fresh Air Pro air conditioner, Kelong Sleeping Small Ear LZ air conditioner, and Meibo Xinxinpai intelligent AI voice air conditioner; the "comfort" product trend represented by Casarte connoisseur air conditioner system, COLMO TURING household central air conditioner, Hisense Bright series fresh air conditioner, Konka smart fresh air conditioner, and Commander BIGGER air curtain air conditioner; and the "health" product trend represented by Haier washing air cabinet hanging air conditioner, EBC Yingbao pure air environment machine, Panasonic alcohol air conditioner, and Changhong guest restaurant shared air conditioner, which has been highly recognized and affirmed by the guests and industry colleagues They all anticipate that these three major product trends will become a new engine for the growth of the air conditioning industry in the upcoming 2023 new cold year.

"Double carbon" engine drives green and high-quality development

In fact, whether it is the driving effect of extreme weather on air-conditioning consumption, or the pursuit of new energy conservation, health, and comfort at the enterprise level under the leadership of stock replacement, it can be made clear that changes in the environment, market changes, and demand are forcing air-conditioning enterprises to step up innovation and development, transformation and upgrading, and also put forward new and higher requirements for the high-quality development of the air-conditioning industry, that is, the air-conditioning industry and enterprises should be socially responsible and consumer-responsible enterprises and products.

According to the IEA report, the global energy-related CO2 emissions in 2018 were about 34.20 billion tons, of which the global energy consumption of air conditioners and fans accounted for about 3.8% of CO2 emissions. It is expected that by 2050, the energy demand for space cooling will increase more than threefold. There is no doubt that the green and low-carbon transformation of the air conditioning industry is imperative.

But objectively speaking, the green and low-carbon development of the air-conditioning industry still faces no small challenges. "For the refrigeration and air-conditioning industry, under the background trend of’dual carbon ‘, the biggest challenge is that the reduction of HFCs conventional refrigerants may bring corresponding quota problems, which may directly affect the operation of an enterprise." Li Tingxun, an associate professor at Sun Yat-sen University, believes that the future control of HFCs consumption, production or quota management may directly impact the development of the air-conditioning industry. So, how can the air-conditioning industry achieve carbon emission reduction? In Li Tingxun’s opinion, on the one hand, it is necessary to improve energy efficiency. At present, the energy efficiency of air-conditioners has increased by 15%, and it may increase by another 15% in the future by 2030. On the other hand, based on the carbon emissions directly caused by refrigerants, it is necessary to choose and develop more environmentally friendly refrigerant alternatives. In this regard, the only sure opportunity is that low GWP refrigerants will have a large application in the future. In addition, materials, production, transportation, warehousing and other links will also directly or indirectly lead to carbon emissions, so air-conditioning related companies also pay attention to the carbon emission reduction of the whole life cycle of air-conditioning products.

"Compared with other manufacturing industries, I personally think the energy saving and carbon reduction of the home appliance industry has advantages." Xie Nanan, director of the environmental and dual-carbon business department of the General Technology Inspection and Testing Group, analyzed that the reason is that the home appliance industry has implemented the trade-in policy more fully, and the improvement of energy efficiency of home appliances is to reduce energy consumption from the source. In addition, the intelligence of home appliances is a systematic improvement, which is to consider the improvement of energy efficiency from an overall perspective. In addition, there is still more room for expansion in the green and low-carbon transformation of the home appliance industry, such as the control role of the supply chain, energy consumption in the production process, energy structure adjustment, and non-carbon dioxide greenhouse gas emission reduction of refrigerants such as HFCs, which are worthy of attention and active promotion by home appliance companies such as air conditioners.

As Li Tingxun and Xie Nanan said, energy efficiency is only one part of low carbon, and to maximize carbon reduction, it is necessary to go through the whole life cycle of air-conditioning products. In this regard, more and more air-conditioning companies, including Midea, Haier, Oaks, and Hisense, have begun to focus on promoting green and low-carbon transformation at the manufacturing level or within the whole life cycle of air-conditioning products. Take Midea as an example. In 2021, Midea Group officially released a green strategy, focusing on six pillars: green design, green procurement, green manufacturing, green logistics, green recycling, and green services, to build a whole-process green industrial chain. " Among them, green design is the leader and traction of the entire green strategy. "Li Jinbo, director of the development center of Midea’s Air Conditioning Innovation Research Institute, said that in recent years, Midea’s air conditioners have accumulated rich technical and product innovation practices in green design. In terms of green technology, it has continued to lay out in environmental protection refrigerant technology, global ultra-high energy efficiency technology, new generation refrigeration technology, and cold storage and heat storage technology." Midea’s air conditioners will continue to expand the supply of green products through technological innovation, product innovation, and standard guidance, to meet the growing needs of users for a better life, and to promote the green and low-carbon transformation of the whole industry. "

Compressor companies, which are the core products of the upstream supply chain of air conditioners, are also actively promoting the green transformation of the industrial chain. For example, CMCC mentioned that building a green industrial chain and promoting the green design of parts and components, including miniaturization and low noise, are all future development directions of GMCC. Haili compressor also said that whether it is from environmentally friendly refrigerant substitution, energy efficiency improvement, including flattening and miniaturization, Haili compressor has always been serving the air conditioning industry and continues to move forward around the green and low-carbon development direction.

It is worth mentioning that at the meeting, Wang Lei and Lv Shenghua, editor-in-chief of China Home Appliances Network, led all the air-conditioning-related enterprises and industry guests to issue the "Green Energy-saving Air Conditioning Replacement Initiative" to the air-conditioning industry – actively responding to the national "double carbon" strategy and the 2022 National Home Appliance Consumption Season activities to promote the quality of green smart air conditioners, increase varieties, and create brands; industry organizations, upstream and downstream industries give full play to their respective advantages to promote a new round of "trade-in" and "home appliances to the countryside" work, promote the upgrade of air-conditioning consumption in an orderly manner, and continue to lead the trend of quality, greening, and intelligence of air-conditioning consumption. This move undoubtedly further sounded the clarion call for the green and low-carbon

Recently, on the 10th anniversary of Ele.me, Ele.me, which was put into Alibaba’s arms in April this year, has made full use of Alibaba’s funds and resources to launch a series of activities to accelerate business expansion and market capture. In fact, although the competition between Meituan and Ele.me originated from food delivery, the war has already spread to a broader local service business. On the one hand, Meituan Dianping, which is fully fledged and is about to go public, and on the other hand, Ele.me, which is connected with Alibaba’s system, who will be better?

Takeaway old things, Ali’s thoughts

According to the data of 17 years and the first half of 18 years, Meituan is a well-deserved leader in terms of transaction volume and user platform distribution. Even though Ele.me acquired Baidu takeaway in August last year, it is still inferior to Meituan, which has more than half of the market share. However, the takeaway market, which originally thought that the pattern had been set, has made a comeback with Ele.me’s defection to Ali Langyan. The takeaway business is the largest local life service entrance, which is not only Meituan’s main business but also the strategic support point for Ali’s layout of new retail. In fact, there has always been a shadow of Ali’s capital in Meituan’s initial financing, but Meituan was dissatisfied with Ali’s strength and control. Ali also lost patience with Meituan’s wavering between Tencent and Ali, and the two sides eventually parted ways. Now Alibaba is spearheading Ele.me, investing 3 billion yuan this summer to achieve the short-term goal of raising Ele.me’s market share to 50%. In the opinion of Ele.me CEO Wang Lei, Alibaba’s battle of living locally is "impossible to lose", which also means that Alibaba will invest huge funds and resources in Ele.me.

The ecological closure of the largest unicorn

In the "2017 China Unicorn Enterprise Ranking", Meituan Dianping ranked first in the e-commerce industry with a valuation of 30 billion US dollars. After Meituan Dianping officially submitted the prospectus to the Hong Kong Stock Exchange on June 25 this year, its valuation was as high as 60 billion US dollars. Meituan Dianping has built a one-stop comprehensive life service platform to connect merchants and consumers, creating a "merchant + service + consumer" ecological closed loop. Its business coverage is beyond the reach of other competitors. According to Meituan Dianping’s prospectus, food delivery, in-store catering, and hotel tourism are the company’s main businesses, contributing more than 90% of its revenue and gross profit. At the same time, Meituan Dianping has launched new businesses such as fresh food, online car-hailing, and merchant services this year, continuously improving the local service system and building ecological barriers.

From a financial point of view, Meituan comments on the one hand, the rapid expansion of revenue, benefiting from the number of users, transaction frequency, flow rate, as well as new business development, brand influence and other factors, in 2017 the company’s gross merchandise volume and operating income reached 357 billion yuan and 33.93 billion yuan, revenue growth rate of 161.2% exceeded the gross merchandise volume growth rate of 51.0%. On the other hand, Meituan losses continue to narrow. According to the prospectus, from 2015 – 5.91 billion yuan narrowed to 2016 – 5.35 billion yuan, 2017 further narrowed to – 2.85 billion yuan, loss halved within 3 years. It is worth mentioning here that, like companies such as Xiaomi and Meitu listed in Hong Kong before, Meituan also has "non-operating losses" due to the increase in the fair value of "convertible redeemable preference shares" issued to shareholders in past financing. Therefore, after excluding the special accounting treatment related to the above, the "adjusted net loss" is more valuable.

Close combat, local service will eventually die?

Ali has been punching frequently since its acquisition of Ele.me, and it has accelerated its action after Meituan Dianping submitted its prospectus. Although Meituan Dianping stands behind the major shareholder Tencent, Tencent is more like an investor than a controller, and there is no deep cooperation or connection between the companies it invests in. Therefore, the current competition landscape is Meituan’s ecological closed-loop against the deep integration of Ali + Ele.me. The two sides have gone head-to-head in various fields, Meituan takeaway and Ele.me in the field of catering takeaway, Dianping and word-of-mouth in life information, in-store catering, and baby elephant fresh and Hema Fresh in fresh new retail. Through the timeline of the expansion of the local service business of both parties, it is not difficult to see that many of the new businesses are still small in size, and many of the cooperation and opening up have just begun, and the market share will still change.

The author of this article: Liu Yihe (intern)

　　Poly development

　　Low-margin projects reduce performance, and high-priced soil reserves are gradually released.

　　Matters:

　　On January 5, the company released the 2022 performance report, and it is estimated that the company will realize operating income of 281.1 billion yuan in 2022, which is-1.4% year-on-year; The net profit of returning to the mother was 18.3 billion yuan, a year-on-year decrease of -33.2%.

　　Guoxin Real Estate’s point of view: 1) Affected by the decline in gross profit margin and equity ratio of the project carry-over, the company achieved a net profit of 18.3 billion yuan in 2022, which was -33.2% year-on-year. This time, the company’s performance was fully released, and with the large number of follow-up high-quality projects carried forward, it is expected that the company’s performance level will be improved; 2) The company’s sales performance is better than the industry average, ranking second in the industry this year, and monthly sales continue to repair. With the economic recovery and the continuous relaxation of demand-side policies, it is expected that the company’s sales performance will still maintain a good trend in 2023; 3) The company actively responds to the policy and plans to raise no more than 12.5 billion yuan for the construction of 14 projects, which will effectively improve the debt structure and enhance the company’s ability to resist risks; 4) As the leader of central enterprises with stable operation, the company’s short-term performance will not change the company’s high-quality fundamentals. We are optimistic about the company’s long-term value and maintain the "buy" rating.

　　Guangzhou Automobile Group

　　In 22 years, the production and sales exceeded 2.43 million vehicles, and the performance of new energy was strong.

　　Event: The company released the December production and sales express. In December, the output was 200,000 units, down by 25.5% year-on-year and 6.1% month-on-month. The sales volume was 206,000 units, down by 11.8% year-on-year and up by 8.2% month-on-month. The reason for the year-on-year decline of the company’s production/sales in December was mainly due to the high base pressure in the previous period and the impact of the epidemic. Cumulatively, the company’s sales in 2022 reached 2,433,800 units, up 13.5% year-on-year.

　　In terms of brands, Guangfeng was under pressure in December, and the sales volume of Guangben/Guangcheng rebounded. In December, Guangfeng sold 74,000 units, down 24.7% year-on-year and 12.9% quarter-on-quarter, of which 17,000 units were sold by Ralink and 11,000 units by Fenglanda. Guangben sold 58,000 vehicles, down 25.5% year-on-year and up 24.6% quarter-on-quarter, of which Accord sold 25,000 vehicles per month. The sales volume of Guangchang was 38,000 units, up 18.1% year-on-year and 47.2% quarter-on-quarter.

　　In terms of electric vehicles, Ai ‘an’s monthly sales continued to lead. In December, the sales volume of Ai ‘an reached 30,000 units, up 106.9% year-on-year and 4.3% quarter-on-quarter. Among them, Ai ‘an S sold 13,800 units, accounting for 46.1%, and Ai ‘an Y sold 14,300 units, accounting for 47.7%. In 22 years, the cumulative sales volume of Ai ‘an exceeded 271,000 units, up 125.7% year-on-year. In the future, the sales trend of new energy vehicles is generally upward, but due to the price increase caused by the subsidy retreat in early 2003, the sales growth of Ai ‘an is expected to slow down in January.

　　Form an autonomous layout of battery electric drive, and continue to promote electric intelligence. The company established Guangzhou Automobile Ai ‘an Inpai Battery Technology Co., Ltd., and invested 10.9 billion yuan to carry out the industrialization of independent batteries; Ruipai Power Technology Co., Ltd. was established and invested 2.16 billion yuan to carry out independent research and development and industrialization construction of IDU electric drive system. In terms of intelligence, the company released the research and development achievements of the whole vehicle cross-domain standardized operating system Psay OS, the newly upgraded ADiGOSPACE intelligent cockpit system, and the ADiGOPILOT intelligent driving system based on the Spirit architecture, and the new SUV Binzhi of Guangben realized the intelligent upgrade, helping to realize intelligent travel in the whole scene. At present, GAC’s new energy business continues to grow steadily, and the degree of mixing of Chuanqi vehicles continues to increase. We believe that the company’s new energy vehicle sales are expected to continue to grow in 23 years with the gradual formation of the advantages of independent new energy industry chain and the intelligent development of products.

　　Profit forecast and investment suggestion. It is estimated that the EPS in 2022-2024 will be 1.02 yuan, 1.12 yuan and 1.31 yuan respectively, and the net profit returned to the mother will maintain a compound growth rate of 23% in the next three years, maintaining a "buy" rating.

　　Risk warning: epidemic risk; Risk of chip shortage; The risk that the sales volume of independent and joint ventures is lower than expected; The risk that the price increase of raw materials exceeds expectations; Cost control is lower than expected risk.

　　BYD

　　Million-level look forward to the release, leading the brand up.

　　BYD’s "Looking Up" was officially launched, and the SUV looked up to U8 and pure electric supercar U9 were released.

　　On January 5th, () held the brand and technology conference of "Dare to Leap the Star River" in Shenzhen, officially released the brand-new high-end automobile brand "Look Up" and its core technology "Easy Sifang", and simultaneously released two models, namely, look up to the first million-class new energy hard-core off-road U8 and the million-class pure electric performance super-run: U8 will be the brand’s first mass-produced model, with a car length of over 5 meters and a car width of over 2 meters, giving consideration to excellent off-road. U9 is also equipped with an easy-to-square power system, with an acceleration of 2 seconds at zero speed, and adopts an electric intelligent butterfly door to create an extremely safe body structure. We maintain the company’s net profit forecast for 22-24 years at 113.9/212.3/30.62 billion yuan, and adopt the segment valuation method to give the company a target price of 348.40 yuan, thus maintaining the "buy" rating.

　　The brand-new "Easy Sifang" technology platform is equipped with all models as standard.

　　"Easy Sifang" technology is a set of power system with four independent wheel motors as the core, which reconstructs the characteristics of new energy vehicles from three dimensions: perception, decision-making and execution. This technology fully strengthens vehicle safety through a more perceptive electric drive system: after a single wheel has a flat tire, the driving wheel makes a powerful compensation intervention in time to help the vehicle brake stably and controllably; It has good tightness of the car body and cockpit, and can obtain emergency floating ability by virtue of four-wheel independent vector control function. In addition to safety, the highest rotation speed of the platform is 20500rpm, and the horsepower of the whole vehicle is over 1,100 horsepower. The fastest acceleration of 100 kilometers can achieve 2 seconds, and it can realize in-situ U-turn on high-adhesion roads such as asphalt roads. When the steering gear and brake are not working, the braking distance of 100 kilometers less than 40 meters and the agile steering ability of less than 12 meters can be realized.

　　Tengshi, look up to two high-end brands, and jointly promote the company’s brand.

　　In 2022, BYD made a great breakthrough in the mainstream market of new energy vehicles by virtue of the "two-wheel drive" strategy of E platform and DM-i platform, and became the global sales champion of new energy vehicles with annual sales of more than 1.86 million vehicles. The release of Tengshi and brand-new high-end brands fully demonstrates BYD’s cutting-edge technological advantages, which is expected to strengthen the company’s right to speak in luxury markets and high-end markets and enhance brand tonality. Since the beginning of 23 years, BYD’s product matrix of "Dynasty+Ocean+Tengshi+Looking Up" has been formally established, which will fully match the needs of various consumer levels and continue to strengthen brand influence.

　　Maintain the company’s "buy" rating

　　We maintain the company’s revenue and profit forecast for 22-24 years, and adopt the segment valuation method. Based on the 23-year revenue and net profit forecast, we give 1.91 times PS to the automobile business, 2.01 times PS to the rechargeable battery business, and 16.07 times PE to the electronic business, corresponding to a total market value of 1,014.196 billion yuan and a target price of 348.40 yuan (the previous value was 317.16 yuan), and maintain ".

　　Risk warning: the uncertainty of macro-environment throughout the year may affect income; In the future, the competition in the industry will intensify, and the order volume will be less than expected; The fluctuation of upstream materials leads to a sharp increase in costs.

Carman Lee’s Classic Stills of The Condor Heroes

1905 movie network news There have been many versions of the TV series "The Condor Heroes". If someone asks you which version of "The Condor Heroes" is your favorite, what would you say?

Eight versions of The Condor Heroes

In 1976, Li Tongming played the little dragon girl, and Luo Lelin played Yang Guo. This is the oldest edition, and most young people have never seen it, but the old play of bones is still worth remembering. Come on! Feel a wave of old play bones when I was young.

Li Tongming plays the little dragon girl, and Luo Lelin plays Yang Guo (right: TVB’s old play bone Luo Lelin).

　

The second edition, starring Andy Lau and Chen Yulian in 1983, once set a record in Hong Kong, but Andy Lau was buried in the snow after refusing to sign TVB’s five-year contract. Chen Yulian, the "little dragon girl", and Chow Yun Fat had a love affair for five years, which ended in nothing.

At that time, Andy Lau was really tender.

In the third edition of The Condor Heroes in 1984, Pan Yingzi played the little dragon girl and Meng Fei played Yang Guo. Maybe you haven’t heard their names, but the photos below may have been seen.

　Pan Yingzi and Meng Fei in golden couple (right: Pan Yingzi)

In 1998, The Condor Heroes was also the most questioned version, starring Jacklyn Wu and Richie Jen. This edition has more modern elements and less charm of costume films, so the audience’s evaluation is not high.

　Jacklyn Wu has worked with stars such as Leslie Cheung, Andy Lau, Jacky Cheung and Stephen Chow.

Fan Wenfang and Li Mingshun starred in The Condor Heroes in 1998. At that time, Fan Wenfang had the reputation of "the first beauty in Singapore", and her little dragon girl surprised many people. In 2009, she married Li Mingshun, the actor of Yang Guo, and got married outside the play. Their love became a much-told story.

In 2009, the marriage of Fan Wenfang and Li Mingshun became a story.

In 2006, many people have seen The Condor Heroes starring Liu Yifei and Huang Xiaoming. Liu Yifei’s face value and Huang Xiaoming’s acting skills won the hearts of many audiences.

　Classic stills of The Condor Heroes by Liu Yifei and Huang Xiaoming.

The latest 2014 version of The Condor Heroes, starring Chen Xiao and Michelle Chen, is written by the screenwriter. This version of Michelle Chen’s style has been vomited by the audience, and her name of "Xiaolongbao" comes from the style of this play.

Michelle Chen’s "Xiaolongbao" shape vomited by the audience

There are so many editions of The Condor Heroes introduced earlier, and I think everyone has found that one edition has been missed. This edition is the most acclaimed and recognized classic, and the 1995 edition of The Condor Heroes starring Carman Lee and Louis Koo will bring back many people’s memories now. Douban scored 8.9, and it is not difficult to see that this edition is still very popular with everyone.

I just want to say that the "Guo Er" at that time was so naughty.

The theme song of this edition of "The Condor Heroes" is also well-known and can be called a classic.

Continental theme song: "Return to Come"

Some lyrics:

Ah, you can pick up the afterglow of ups and downs

Ah, keep the moment open for you forever

Ah, you can pick up the afterglow of ups and downs

Ah, keep the moment open for you forever

China Hong Kong Edition Theme Song:Myth and love story

Some lyrics:

Love is happy, sad, intoxicated and emotional.

Or as a legend in the future.

Love is a Covenant, a habit, time and white hair.

I’m surprised and happy to call you, too.

When you hear these two songs, which scene of The Condor Heroes will remind you of? Look at the reply from netizens:

The response of netizens when they heard "Return to Come"

The response of netizens when they heard "Fairy Tales"

Review the image of being "disgusted" by netizens. Did mom and dad cover your eyes when you saw Yin Zhiping "defile" your aunt?

Yin Zhiping "defiled" her aunt’s picture.

On 15th, Carman Lee, which has been keeping a low profile, suddenly opened Weibo, and wrote: "I finally opened Weibo! Ha ha ha … ". Let’s talk in detail about what happened to my "aunt" who has been away from the screen for many years.　

Carman Lee opens Weibo account.

Carman Lee, a Hong Kong actress in China, whose father is a worker and her mother is a full-time wife. She ranks seventh among ten children. When she was a child, her neighbors would gossip because she looked like a hybrid. When she was a child, Carman Lee once thought that she was picked up by her parents.

Carman Lee family photo

Carman Lee childhood photo

Carman Lee did well when she grew up, but she didn’t go to college for love. Before becoming an actress, she was a flight attendant. (The picture below shows Carman Lee’s uniform of the same year, please fill it by yourself. ) She had never studied acting, and was discovered by a talent scout by chance. At that time, scouting was popular. Ruby Lin, Gao Yuanyuan, Liang Yongqi, Ehan Juan, Chun Wu, Michele Monique Reis, Maggie Cheung, Cherie Chung, Guan Zhilin and Chen Huixian were all discovered by scouting in the street.

It is reported that Carman Lee wore this uniform when she was a flight attendant.

After being discovered by a talent scout, Carman Lee shot his first advertisement in 1990, and in the same year, he made a guest appearance as a classmate of Joey Wong in the movie "Romantic Killing Freemen" starring Yam Tat-wah and Joey Wong. While filming this movie, Carman Lee hurt his knee and cried while taking a shower. At that time, Carman Lee was still a little "baby fat", but she once admitted on the show that she missed herself very much.

Carman Lee made a guest appearance as a classmate of Joey Wong in "Romantic Killing Freemen".

In 1992, Carman Lee was discovered by director Tsui Hark, and after some tests, she was chosen to play the role of Erzi Luo in the film. With distinctive facial features and outstanding temperament, she left a deep impression on people, and it seems that she will be open-minded in the future. But at that time, Carman Lee was not interested in being a star. He didn’t want to be an actor, but wanted to be a nurse, but he couldn’t realize this wish for fear of blood. On the other hand, now, how many people are determined to be stars with the determination of "breaking their heads and bleeding". In the past, actors acted because they loved drama, but now some stars act because of "money".

Carman Lee’s stills in the movie Monster City.

In 1993, there was a reversal. The airline in Carman Lee refused to let her rest when she was ill. Then she resigned and entered the entertainment industry. In the same year, she signed a contract with Du Qifeng Company to shoot a film in the mainland for four months. The film "Burning Red Lotus Temple" made her formally enter the entertainment industry. At that time, she chose to leave Hong Kong for another reason, that is, she was lovelorn. Carman Lee, who just entered the entertainment circle, had a hard time. She once recalled: "Nobody cares about you when you are injured. Nobody cares about you when you are injured. You have to do whatever I tell you to do. I feel uncomfortable and I feel unfair. I didn’t do anything wrong, because you may have to find someone to take the blame, so you will find me, and you will find this new person. You also have something unclear. I feel very bitter and I feel very wronged. "

Carman Lee officially entered the entertainment industry with "Burning Red Lotus Temple"

Carman Lee, who had been filming for four months, didn’t want to act because she was too bitter, but her friend told her that she should give herself another chance and try again. If she really didn’t like it, she wouldn’t do it. Carman Lee tried again. In 1994, he starred in the movie "An Ordinary Sunday", and in the same year.

After 1994, Carman Lee liked acting.

In 1995, Carman Lee starred in the costume drama "The Condor Heroes", which became popular all over the country, and the title of "Aunt" accompanied her all her life. At that time, the producer showed Mr. Jin Yong a photo of Carman Lee. After seeing the photo, Jin Yong said that she (Carman Lee) was the little dragon girl in her mind. It is reported that at that time, Carman Lee read the script all night, read the novel several times, and found the materials of The Condor Heroes to study. During filming, she was often injured and bruised because of many action scenes, but Carman Lee persisted and created the most classic "aunt" image.

Stills of Louis Koo and Carman Lee in The Condor Heroes

In 1996, Carman Lee cooperated with Tony Leung Chiu Wai and Jordan chan, and in the same year, he played another play of Jin Yong, Tian Long Ba Bu, in which he played Wang Yuyan who dared to love and hate. Later, Carman Lee appeared in such works as Face-to-Face, Fate to the Family, Strange Tales, Young Women, Chou-heung, and Returning home like a rainbow.

Carman Lee plays Wang Yuyan who dares to love and hate in "Dragon"

After 2004, Carman Lee faded out of the screen for love. In 2009, Carman Lee’s father suffered a stroke, and he lost his ability to take care of himself. He couldn’t walk or eat. However, under her careful care, his father was successfully discharged from the hospital. Unfortunately, it was not long before his father died, and Carman Lee spent the last time with him. After his father’s death, Carman Lee often went home and put his experience and time on his family. Carman Lee’s mother likes playing mahjong, and once joked about recruiting a son-in-law to find someone who can play mahjong.

Carman Lee and mother.

At the same time, Carman Lee’s boyfriend Guo Yingquan, who had been in love for ten years, broke up with her, and Carman Lee, who was "love first", suffered a double blow. At that time, Carman Lee suffered from depression for a time, and it took two and a half years of medication to recover. The recovery of illness is inseparable from the care of Carman Lee’s mother. My mother once wrote a letter to Carman Lee: "Dear daughter, it is my happiest to have you as a daughter in my life. Thank you for always taking care of my parents and family, including taking care of my aunt’s daughter as your own, and never letting up. You only want to pay for your life without asking for anything. I am really proud to have your daughter. I have no regrets in my life. I hope you are healthy and happy. This is my only one."

Carman Lee cried when she heard her mother’s letter.

Carman Lee’s boyfriend, Guo Yingquan, is a businessman. They started dating in 1998. In 2008, Guo Yingquan asked for a breakup, and their ten-year relationship ended. Up to now, Carman Lee, who is single, revealed that she had been in love, but all of them ended in failure.

Carman Lee and her boyfriend Guo Yingquan.

Carman Lee, who loves acting, returned to the screen in 2013 and made a TV series. In 2014, Carman Lee said that Guo Er and his aunt had not seen each other for 16 years in The Condor Heroes. In real life, she and Louis Koo had not seen each other for 16 years. When they met again at the airport, Louis Koo called her "aunt" and she replied "Ah, Guo Er". It’s still you who’s going around. Coincidentally, you haven’t seen it in 16 years in and out of the play.

Carman Lee Louis Koo took a group photo at the time.

Carman Lee Louis Koo’s plays have not been seen for 16 years.

In 2015, Carman Lee participated in the movie "The Tomb of the Butterfly", and in 2017, he also appeared in the TV series "Breaking the Sky" and "Hitom Through the Rain and Rouge".

Carman Lee stills of "Butterfly Tomb"

Such a video circulated on the Internet is a variety show jointly attended by Carman Lee and Kimi. At that time, Kimi was blindfolded and guessed the goddess next to her by the guest’s prompt, and Carman Lee was standing next to her. Kimi also joked: "Aunt, I have an exam tomorrow. Please call me twice and let me pass." Now things are man-made, and people can’t help feeling.

Carman Lee and Kimi participated in the variety show.

It’s been three days since Carman Lee opened Weibo. The number of her fans has exceeded 200,000, the number of the first Weibo comments has reached 27,000, and the number of likes has reached 280,000. The popularity of "Aunt" Carman Lee can be seen. Today, she also sent her own fitness photo in Weibo, saying, "The gym is the place where I have signed in for many years, and it has been a habit for more than ten years."

Screenshot of Carman Lee Weibo

Carman Lee fitness photo

From Carman Lee’s Weibo, it is not difficult to see that she is a person who likes Xiao Zhenxing. As she said, what she yearns for is a quiet and happy life. After many years, "Aunt" came back, and the fans didn’t forget her, and she didn’t forget us. This is really something to be thankful for.

　　Cctv newsRecently, the National Anti-Pornography Office reported many typical cases of "Net Net 2020". A case of spreading obscene articles for profit through WeChat WeChat official account was cracked by the police in Lanxi, Zhejiang Province, which destroyed a super-large pornographic novel platform and arrested 15 suspects, involving more than 10 million yuan.

　　On May 22 this year, the police of the Public Security Brigade of Lanxi Public Security Bureau received a report from the public that there were a large number of pornographic novels on a website called "Ma Ke Literature Website", which needed to be recharged before reading. After receiving the police, the police immediately obtained evidence for the contents of Xiao Guan’s novels on the "Ma Ke Literature Website".

　　In the process of obtaining evidence, the police found that many articles in the "Ma Ke Literature Website" contained obscene pornography and other vulgar contents, and the expression of the articles was full of explicit pornographic descriptions.

　　Lanxi City Public Security Bureau Zhuge Police Station Tang ChengangFirst of all, you can read it for free. There are many novels in it, including clear water novels and obscene novels. After the reader clicks in, he can read one or two for free. Just like we usually read one or two chapters, when the addiction comes up, he will jump out of a window and let you recharge. Top-ups include 30 yuan, 48 yuan, 68 yuan and 365 yuan, and 365 years is the annual fee.

　　It has been verified that "Ma Ke Literature Website" packages pornographic novels into "network literature", and recruits agents through various advertisements published in WeChat official account, with 90% of the customer’s top-up amount as a share reward. In order to gain more audiences, the agent will publish platform links in a large number of WeChat official account, and in a short time, the number of platform clicks will spread rapidly across the country.

　　Most of the members of the platform involved in the Yellow River were arrested after 90.

　　After investigation, the police in Lanxi, Zhejiang Province grasped sufficient evidence and immediately set up a task force to hunt down the suspects hidden behind the scenes.

　　Through the registration information of this company named Yuxin Cultural and Creative Co., Ltd., the police investigating the case found that the company is located in Zhangzhou City, Fujian Province, and why is the legal representative?

　　However, just as the police stepped up the investigation of He’s network, the "Ma Ke Literature Website" was abnormal, the link could not be logged in normally, and the webpage display was closed. Did the police investigation arouse the suspect’s vigilance?

　　After finding out the law of crime and personnel situation, on June 8, Lanxi Public Security Bureau dispatched 31 police officers, who were divided into five arrest groups and rushed to Fujian, Anhui, Guangdong, Shanghai and other places to attack simultaneously, and arrested 15 people involved in this pornographic website.

　　Among the 15 suspects who were arrested, most of them were post-90s, mostly Internet practitioners. After the trial, the suspect confessed that since September 2019, the suspect He Mou registered Gaoxin Cultural and Creative Co., Ltd. and established the "Ma Ke Literature Website", which was responsible for the overall work, daily management, updating the content of obscene novels, payment business, etc. Lin Mou, Chen Mou, Zhang Mou and Ye Mou were responsible for the promotion agency, while Wu Mou and Zheng Mou were responsible for the website maintenance and repair work.

　　At present, three suspects, including He Mou, Wu Mou and Ye Mou, have been criminally detained by the police according to law on suspicion of spreading obscene articles for profit, and the remaining 12 people have been released on bail pending trial. The case is under further investigation.