Our reporter Dong Yuhan

　　After hanging everyone’s appetite, the domestic price of the people-friendly Tesla Model 3 was finally announced. Yesterday, Tesla announced that it would produce the Model 3 standard endurance upgraded model in the China-Shanghai Super Factory, and officially open the vehicle reservation. The Model 3 standard cruising upgraded version (Tesla China) has a cruising range of 460 kilometers, the starting price is RMB 328,000, and the estimated delivery time is 6 to 10 months. Yesterday, the first order was completed within 3 minutes after the reservation was opened. Even official website had to wait a long time to open the page because of the heavy traffic. It can be seen that Tesla, whose price has dropped to "prefix 3", is still very attractive. Although many netizens spit out that the price of Model 3 is "insincere", for other domestic electric vehicle brands, this time it may really be "the wolf is coming".

　　Netizens spit out the domestic price "insincere"

　　The domestic version of Model 3 standard endurance upgrade version is 49,000 yuan cheaper than the imported version of the same paragraph, but it is still vomited by netizens: "It is a standard endurance version, which saves some tariffs."

　　It is not unreasonable for the owners to vomit. For the domestic version, the basic automatic driving function needs to pay an additional 27,800 yuan, and the fully automatic driving function needs to pay 56,000 yuan. The imported standard endurance upgraded model with a price of 377,000 yuan comes standard with the basic automatic driving function, so the difference is only 21,200 yuan, while the imported long endurance version and other models can even give away the fully automatic driving function for free.

　　According to reports, in terms of performance, the Model 3 standard endurance upgrade version has an acceleration time of 5.6 seconds from 0 to 100 km/h and a speed of up to 225 km/h. Model 3 is Tesla’s third mass production model and its most popular explosion model. In 2018, of the 245,000 new cars delivered by Tesla, Model 3 contributed 138,000 vehicles, accounting for more than 50%.

　　Up to now, there are five Model 3 models on sale in China, with a cruising range of 460 km to 595 km, and the starting price ranges from 328,000 yuan to 522,000 yuan.

　　The new forces of building cars are not to be outdone.

　　"The domestic electric car wails! The launch of the domestic version of Tesla is bound to have a certain impact on the domestic new energy vehicle market, especially for a group of new car-making forces. " When the price of the domestic version of Model 3 was 328,000 yuan, some netizens commented.

　　In the field of luxury electric vehicles, the price is indeed very competitive. For example, the pre-sale price of Weilai Automobile ES6 starts from 370,000 yuan, the unified price of Li ONE is 328,000 yuan, and the official price of Skyline ME7 starts from 366,800 yuan. However, the new forces of making cars do not show weakness.

　　"The domestic version of Model 3 (without autonomous driving) is not competitive, and at least the price should be reduced by another $10,000. Now it is completely different from five years ago. Tesla’s battery advantages and intelligent differences are no longer compared with ours. When Tucki P7 comes out, it will definitely be crushed. " Xpeng Motors founder He Xiaopeng said. Weilai also said that he also has confidence. "It is comparable to the domestic Model 3 in performance and battery life."

　　"Local manufacturing is an important part of Tesla’s provision of truly affordable Model 3 to customers in the region." Tesla revealed that in the initial stage of the Shanghai Super Factory, it is expected that there will be stamping, painting, body welding and assembly workshops, which will be put into operation at the end of 2019. After the completion of the Shanghai factory, it is planned to produce about 3,000 Model 3 electric vehicles per week in the initial stage, and the annual output will climb to 500,000 pure electric vehicles after it is fully put into operation.

　　In July 2018, Tesla officially announced the establishment of Tesla Super Factory 3 in Shanghai, which is the first super factory outside the United States, and will produce Model 3 electric vehicles and future new models for the China market. In January 2019, Tesla Giga Shanghai officially started construction.

　　Independent high-end electric vehicle competition plus code

　　However, "the wolf is coming" not only refers to Tesla, but also major established car companies are making full efforts in the electric vehicle market.

　　At the end of this year, Mercedes-Benz’s first domestic pure electric vehicle EQC will be launched soon, which is a pure electric medium-sized luxury SUV with a cruising range of more than 450 kilometers under NEDC working conditions; Audi’s first pure electric SUV, Audi e-tron, will also enter the China market in the third quarter of this year. In addition, Polestar 2, Volvo’s first pure electric vehicle, has been listed in the China market with an official guide price of 298,000 yuan, which will be put into production early next year and delivered to users one after another.

　　According to the data of the Ministry of Industry and Information Technology, from January to April this year, the national production and sales of new energy vehicles were 368,000 and 360,000 respectively, up 58.5% and 59.8% respectively. At the same time, according to the 2019 version of the subsidy policy for new energy vehicles, the central subsidy has been greatly reduced, and the maximum subsidy for bicycles has been reduced to 25,000 yuan, and all local subsidies will be cancelled. The insiders believe that with the shift from policy-oriented to market-oriented and single competition to multi-competition, new energy vehicles will accelerate the survival of the fittest. For self-owned brand electric vehicle enterprises, in addition to speeding up the technical shortcomings, it is necessary to further establish advantages in after-sales service.

　　In fact, Tesla’s life is not good at this stage. In April this year, a Tesla Model S spontaneously ignited in a residential area in Shanghai. At present, Tesla has not disclosed the results of the accident investigation. In the first quarter of this year, Tesla lost as much as 702 million US dollars and delivered 63,000 vehicles, down nearly 30% from the previous month. China market is undoubtedly Tesla’s "life-saving straw" to expand market sales and realize profitability.

　　"Tesla’s domestic Model 3 price is very competitive. For domestic high-end electric vehicle brands, the price will either go down and occupy the price range of 200,000 yuan; Either going up, going up will directly compete with Mercedes-Benz EQC and BMW iX3 in the price range of 400,000. " China automobile dealers association expert member Li Yanwei said.

　　In the broad practice of building Socialism with Chinese characteristics, the supreme leader’s economic thoughts have been constantly enriched and developed, leading the great ship "China" to ride the wind and waves and make steady progress. At present, the great changes in the world that have never happened in a century are accelerating, and the characteristics of the changes in the world, the times and the history are more obvious. China’s development is facing new strategic opportunities and risk challenges. General Secretary of the Supreme Leader put forward in the Party’s Report to the 20th CPC National Congress: "High-quality development is the primary task of building a socialist modern country in an all-round way." This important conclusion clarifies the inevitable choice of promoting Chinese modernization based on the new stage of development. How to understand and grasp the primary task of promoting high-quality development is a major issue in the process of Chinese modernization.

　　High-quality development plays an important role in modernization.

　　China has started a new journey of building a socialist modern country in an all-round way and marched towards the goal of the second century. Standing at the height of national development strategy, the CPC Central Committee with the Supreme Leader as the core fully understands, accurately grasps and scientifically plans high-quality development, which is of great significance for building a socialist modern country in an all-round way.

　　High-quality development is the key to change the power of the structure with excellent transfer mode. Entering a new stage of development, China’s economic strength, scientific and technological strength and comprehensive national strength have greatly jumped. In 2022, the gross domestic product reached 121 trillion yuan, which is an important engine of world economic growth. At the same time, we should also see that the problem of insufficient development imbalance in China is still outstanding, and it is in the key period of changing the development mode, optimizing the economic structure, and transforming the growth momentum. The rising labor costs, the aging population, and the increasing constraints on resources and environment all require that we must adhere to high-quality development, create a high-quality, high-efficiency and diversified supply system, and form a higher level dynamic balance between demand and supply and demand. Economic development is a spiral process, with both quantitative accumulation and qualitative improvement, which requires that the quality of development must be placed in a more prominent position. Combine the implementation of the strategy of expanding domestic demand with deepening the structural reform on the supply side, give overall consideration to the development quality and benefit, development cost and income distribution, and promote the quality change, efficiency change and power change of economic development.

　　High-quality development is the strategic choice for developing new machines. Entering a new stage of development, we have ushered in new opportunities and new impetus in accelerating the construction of a modern industrial system, enhancing the ability of scientific and technological innovation, deepening the reform of factor marketization, building a unified national market, persisting in high-level opening up, and actively participating in the reform and construction of the global governance system. At the same time, the world today is experiencing a new round of great development, changes and adjustments. The momentum of world economic growth is insufficient, the polarization between the rich and the poor is becoming increasingly serious, regional conflicts are breaking out one after another, non-traditional security issues such as cyber security, major infectious diseases and climate change are prominent, and the instability and uncertainty facing the world are prominent. It is urgent to promote the construction of new international relations, jointly build the "Belt and Road" high-quality development, and build a community of human destiny. Firmly grasping the primary task of high-quality development can better create good conditions and cultivate new machines and open new opportunities for promoting the construction of a socialist modern country.

　　Achieving high-quality development is one of the essential requirements of Chinese modernization. Chinese-style modernization is a socialist modernization led by the Communist Party of China (CPC), which not only has the common characteristics of modernization in all countries, but also has the characteristics of China based on its own national conditions. We should give full play to the advantages of human resources and realize the modernization of a huge population; It is necessary to meet the people’s new expectations for a better life, solve the problems of regional gap, urban-rural gap and income gap, and realize the modernization of common prosperity for all people; It is necessary to consolidate the foundation of material civilization and stimulate the motive force of spiritual civilization construction to realize the modernization of material civilization and spiritual civilization in harmony; It is necessary to form a green development mode and lifestyle, provide more high-quality ecological products, take the road of sustainable development and realize the modernization of harmonious coexistence between man and nature. These must adhere to high-quality development.

　　Promote the economy to achieve effective improvement in quality and reasonable growth in quantity.

　　General Secretary of the Supreme Leader emphasized that "the economy should be promoted to achieve effective improvement in quality and reasonable growth in quantity". This has pointed out the direction and provided guidance for us to further promote high-quality economic development.

　　The new development concept of innovation, coordination, green, openness and sharing answers major issues such as the driving force and path of high-quality development from the conceptual level; Solve the problems of development motive force, unbalanced development, harmony between man and nature, internal and external linkage of development and social fairness and justice from the theoretical level. The concept of innovation and development is clear that innovation is the first driving force to lead development, and it is required to follow the laws of economic development and scientific and technological development and improve the level of productivity through continuous innovation; The concept of coordinated development is the inherent requirement of sustained and healthy development. We should simultaneously promote new industrialization, informationization, urbanization and agricultural modernization, promote the coordinated development of industries, industries, urban and rural areas and regions, and realize the coordination between material civilization and spiritual civilization. The concept of green development makes it clear that green is a necessary condition for sustainable development and an important embodiment of people’s pursuit of a better life. It requires respecting nature, adapting to nature and protecting nature, and achieving high-quality development on the basis of following the laws of natural development; The concept of open development is clear. Openness is the only way for a country to prosper and develop. We must persist in discussing, building and sharing, adhering to peaceful cooperation, openness, tolerance, mutual learning and mutual benefit, actively participating in and promoting the process of economic globalization, promoting the building of a community of human destiny, and improving the internal and external linkage of development; The concept of shared development is the essential requirement of Socialism with Chinese characteristics. It is necessary to handle the relationship between efficiency and fairness in development, and insist that development is for the people, development depends on the people, and development results are shared by the people. Therefore, we must implement the new development concept completely, accurately and comprehensively.

　　To promote high-quality development, it is necessary to speed up the construction of a new development pattern with the domestic big cycle as the main body and the domestic and international double cycles promoting each other. In the process of unblocking the domestic circulation, we will promote the market-oriented reform of important production factors such as land, capital, labor, technology, knowledge and data, establish a unified and open resource market, standard system and access system, optimize the innovation ecology, science and technology ecology and system ecology, promote the free flow of production factors, and enhance joint efforts, coordination and interaction, which will effectively promote high-quality development. In the process of unblocking the domestic and international double circulation, we should promote the circulation of information, capital, products and services at home and abroad, promote the high-quality, high-standard and high-level development of production, distribution, circulation and consumption, build a strong and resilient national economic circulation system, attract more resource elements, and effectively enhance the reliability of the domestic large circulation, which is conducive to achieving higher quality, efficiency, fairness, sustainability and security.

　　Promoting high-quality development is inseparable from innovation. Efforts should be made to intensify scientific and technological innovation, scientifically and rationally distribute scientific and technological innovation, pool innovative resources and forces, mobilize innovation enthusiasm, and continuously improve total factor productivity, so as to create favorable conditions for achieving high-quality development and open up new ways for productivity development. It is necessary to establish and improve the mechanism of talent introduction and training, create a gravitational field for scientific and technological talents, release the potential of scientific and technological innovation, and provide a steady stream of innovation power for high-quality development. We should actively integrate into the global innovation network, jointly promote basic research and applied research, actively participate in global intellectual property governance under the framework of the World Intellectual Property Organization, and work together with other countries to create an open, fair, just and non-discriminatory environment for scientific and technological development, so as to promote complementary advantages and mutually beneficial sharing between China and other countries in the field of scientific and technological innovation.

　　Focus on promoting quality change, efficiency change and power change.

　　Deepening reform in an all-round way and striving to promote the quality change, efficiency change and power change of economic development can provide important institutional and institutional guarantee for grasping the initiative of future development. In the new era and new journey, we need to focus on the following aspects.

　　Build a high-level socialist market economic system. Report to the 20th CPC National Congress of the Communist Party of China regards "building a high-level socialist market economic system" as an important strategic deployment to accelerate the construction of a new development pattern and focus on promoting high-quality development, and puts forward "building a unified national market, deepening the marketization reform of factors, and building a high-standard market system". Market is the scarcest resource, and accelerating the construction of a unified national market is an inherent requirement for building a new development pattern and a high-level socialist market economic system. To fully stimulate the potential of China’s ultra-large-scale market, it is necessary to gather domestic and foreign resource elements, strive to achieve smooth market access, open and orderly, full competition and standardized order, and deepen the "streamline administration, delegate power, strengthen regulation and improve services" reform; Deepen the reform of state-owned assets and state-owned enterprises, speed up the layout optimization and structural adjustment of the state-owned economy, promote the state-owned capital and state-owned enterprises to become stronger, better and bigger, and encourage and support the development and growth of the private economy and private enterprises; We will promote the reform of market-oriented allocation of factors and the construction of credit system, build a high-standard market system, deepen the reform of financial system and tax structure, and improve the macroeconomic governance system to provide solid support for building a new development pattern.

　　Building a modern industrial system. The first meeting of the 20th Central Financial and Economic Committee emphasized that the industry should be intelligent, green and integrated, and a modern industrial system with integrity, advancement and safety should be built. We must persist in focusing on the real economy, enhance the ability of independent innovation, improve the new national system for tackling key core technologies, make great efforts to overcome key core technologies, and enhance the scientific and technological content and comprehensive quality of China’s industrialization. It is necessary not only to consolidate the leading position of traditional industries, but also to accelerate the building of strategic emerging industrial clusters with international competitiveness, promote the deep integration of digital economy with advanced manufacturing and modern service industries, comprehensively upgrade the industrial base and modernize the industrial chain, and accelerate the construction of a modern industrial system with advanced manufacturing as the backbone. At the same time, we should profoundly grasp the important characteristics of the modern industrial system, adhere to innovation-driven development, constantly improve the position of China’s industry in the global industrial chain supply chain value chain, and better serve high-quality development and Chinese modernization.

　　Comprehensively promote rural revitalization. The most arduous and arduous task of building a socialist modern country in an all-round way is still in the countryside. This is because in addition to realizing their own development, the vast rural areas also shoulder the strategic mission of supporting the overall development of the country. Therefore, it is necessary to give priority to the development of agriculture and rural areas, adhere to the integrated development of urban and rural areas, smooth the flow of urban and rural factors, and accelerate the formation of a new type of relationship between workers and peasants, which is mutually reinforcing, complementary, coordinated and prosperous. Accelerate the completion of the shortcomings of agricultural modernization. It is necessary to carry out in-depth scientific and technological support actions for rural revitalization, increase research and development support for high-end intelligent agricultural machinery and equipment, and promote the deep integration of agricultural modernization and informationization; Promote the integration and development of rural primary, secondary and tertiary industries, promote the deep integration of agriculture with tourism, education, culture, health care and other industries, expand the agricultural industrial chain, and promote the deep processing of agricultural products; Promote the application of digital technology in agricultural production and management, actively explore new agricultural formats, and accelerate the modernization of agriculture and rural areas.

　　Promote coordinated regional development. Implementing the concept of coordinated development and promoting full, balanced and inclusive development is the key to promoting high-quality development, the basis for correctly handling the dialectical relationship between growth and distribution, efficiency and fairness, and an important way to solidly promote common prosperity. Promoting coordinated development is a systematic, strategic and long-term task, which requires the joint participation of all economic and social sectors and the coordination of various resource elements. It is necessary to promote the equalization of public services, continuously increase support for education, employment, social security, medical and health care, old-age care, housing, etc., achieve coordinated, balanced and inclusive development of regions, promote urban-rural integration and regional coordinated development, focus on key industries, digital economy, high technology, innovation cooperation, basic investment, personnel training, energy resources, financial services and other key areas, actively build strategic docking platforms, and strengthen regional coordination.

　　Actively promote high-level opening up. China has the advantage of super-large-scale market, and attracting global resource elements through domestic circulation is conducive to enhancing the linkage effect between domestic and international markets and continuously improving the quality and level of trade and investment cooperation. We should steadily expand the institutional opening of rules, regulations, management and standards, consolidate the advantages of China’s trade in goods, actively integrate into the global division of labor in service trade, comprehensively deepen the pilot of innovative development of service trade, and accelerate the construction of a trade power. Further improve the business environment, improve the degree of trade and investment facilitation, build a higher standard and higher quality free trade zone network, and continuously increase the protection of intellectual property rights. Promote the high-quality development of the "Belt and Road", maintain a diversified and stable international economic structure and economic and trade relations, foster new advantages in participating in international cooperation and competition, and strive to enhance the right to speak in the global governance system. Promote international scientific and technological innovation and industrial cooperation, co-ordinate global innovation resources, promote international innovation cooperation related projects, promote the construction of an open cooperation platform for international innovation resources, build an international scientific and technological innovation center with global influence, be deeply embedded in the global scientific and technological innovation chain, and be more actively integrated into the global innovation network.

　　(Author: Wu Jianmin Ren Xiaogang The authors are all researchers at the Socialism with Chinese characteristics Thought Research Center of Beijing Supreme Leader New Era)

Sales this month Accumulated this year last month compare the numbers with the prior period of the same length same period last year compare to the same period of the previous year Qichen D60 1449 11146 1828 -20.73% 36 3925.00% Qichen VX6 1229 10098 1250 -1.68% 1857 -33.82% Qichen big v 457 5040 479 -4.59% 376 21.54% Qichen da V DD-i 330 6899 521 -36.66% 1522 -78.32% Venucia Star 30 567 37 -18.92% 15 100.00% Qichen D60 EV 105 9611 967 -89.14% 841 -87.51% Morning summary 3600 43361 5082 -29.16% 4647 -22.53% Jinke 71 6491 297 -76.09% 2069 -96.57% Qijun e-Power 595 4465 360 65.28% 885 -32.77% Land exploration 1104 13001 1344 -17.86% 0 0% TIIDA 481 10801 750 -35.87% 2897 -83.40% Xuanyi e-Power 591 4712 314 88.22% 764 -22.64% Qashqai 11009 100677 10907 0.94% 13784 -20.13% sylphy 28529 298977 27451 3.93% 37790 -24.51% X-Trail 3156 23290 2664 18.47% 3987 -20.84% sounds of nature 7516 63503 7293 3.06% 10282 -26.90% Nissan summary 53052 525917 51380 3.25% 72458 -26.78% British finidi QX50 45 399 37 21.62% 98 -54.08% QX60 196 1694 207 -5.31% 219 -10.50% British-finidi summary 241 2093 244 -1.23% 317 -23.97% Dongfeng Nissan summary 56893 571371 56706 0.33% 77422 -26.52%

In recent years, with the increasing number of electric vehicles, traffic safety and riding safety have attracted more and more attention from all walks of life. As a leader in the domestic intelligent two-wheeled electric vehicle industry, No.9 Company (689009·SH) has joined hands with all parties to advocate riding safety, build a user riding safety defense line with practical actions, and contribute to the long-term sustainable development of the industry.

On the one hand, internally, adhere to quality as the foundation. Relying on the advanced digital production control system, strict quality inspection process and comprehensive verification by CNAS National Laboratory, No.9 Company has formed a perfect quality management system, which can ensure that every factory product meets No.9′ s high quality standards.

At the same time, Company No.9 is also increasing its research and development efforts to improve the performance and quality of electric vehicles. According to the company’s semi-annual report, during the reporting period, the company’s R&D investment reached 349 million yuan, up 18.88% year-on-year, and the number of intellectual property rights accumulated worldwide reached 4,985. The technological innovation ability became the core component of the company’s new quality productivity. Behind this figure is the firm commitment of No.9 Company to improve product performance and quality.

Taking its Nz MIX electric vehicle as an example, Company No.9 has made great efforts in the structural safety of the whole vehicle. The car adopts lightweight carbon steel frame, and the main beam tube and head tube of the frame are thickened and thickened, which greatly improves the stability. In addition, the front and rear are equipped with large-size tires, which have stronger grip. In addition, the front disc and rear drum brake design and TCS traction control system provide multiple safety guarantees for users to ride.

On the other hand, externally, Company No.9 cooperated closely with fire departments and traffic control departments in Nanjing, Zhengzhou, Wuhan and other places. Through a series of activities, such as "Public Welfare Lecture on Electric Vehicle Safety Science Popularization", "Electric Bicycle Safety Science Popularization" and the release of "Manual on the Safe Use of Electric Bicycles", Company No.9 joined hands with all parties to popularize the safe use of electric vehicles and raise public awareness of fire safety and riding norms, laying a solid foundation for building a safe and harmonious travel environment.

With excellent product strength, persistent innovation and strong brand power, No.9 Company has been widely recognized by the market. Now, it has been ranked first in the sales volume of smart two-wheeled electric vehicles in China for two consecutive years, with stores in more than 1,000 cities and counties across the country, making it the preferred brand for new generation consumers to travel. In the future, Company No.9 will continue to proceed from high-quality development, drive product strength to continue to improve, actively fulfill corporate social responsibility, and satisfy people’s beautiful pursuit of convenient, safe and intelligent travel with more excellent products and services. (promotion)

　　On May 8, Lee Ka Chiu John was elected as the candidate for the sixth Chief Executive of the Hong Kong Special Administrative Region. Xinhua News Agency reporter Wang Shenshe

　　Xinhua News Agency, Beijing, May 9-The election of the sixth Chief Executive of the Hong Kong Special Administrative Region was successfully held on the 8th, and Li Jiachao was elected by a high vote. In an interview with Xinhua News Agency, a number of authoritative experts on Hong Kong issues pointed out that this important election is of great significance and far-reaching influence. The election process is in accordance with the law, fair and just, stable and orderly. The selected chief executive meets the central standards and the expectations of Hong Kong people, fully demonstrating the advanced nature and superiority of the new electoral system. I believe that the new chief executive will lead Hong Kong society to open a new chapter of good governance and good governance.

　　Chief executive election fully demonstrates the advanced nature and superiority of the new electoral system.

　　"This election is the first Chief Executive election after the Election Committee election and the Legislative Council election under the new electoral system in Hong Kong, marking the full implementation of the new electoral system." Ping Huang, vice president of the National Hong Kong and Macao Research Association and director of the Taiwan, Hong Kong and Macao Research Center of the China Academy of Social Sciences, said that this election is a vivid practice of strictly implementing the principle of "patriots governing Hong Kong" and ensuring that talented patriots are elected to govern Hong Kong. The three elections under the new electoral system have jointly laid a solid foundation for Hong Kong to implement the comprehensive governance power of the central government and the principle of "patriots governing Hong Kong" and ensure the stability and long-term development of "one country, two systems", which is of great and far-reaching significance for Hong Kong to start good governance.

　　Guo Wanda, vice president of the National Hong Kong and Macao Research Association and executive vice president of the China (Shenzhen) Comprehensive Development Research Institute, said that the election process was legal, orderly and stable, and the candidates made every effort to campaign, fully interacted with people from all walks of life and industries, listened to opinions from all sides, and the election atmosphere was democratic, United and harmonious, showing a brand-new atmosphere in which Hong Kong society worked together to solve problems and hoped to open a new chapter. The election process and results show that the new electoral system is a good system that conforms to the principle of "one country, two systems" and the reality of Hong Kong, and provides a strong institutional support for Hong Kong to achieve long-term stability and long-term development.

　　Scenery on both sides of Victoria Harbour in Hong Kong (data picture). Xinhua News Agency reporter Li Gangshe

　　Shao Shanbo, former chief adviser of the Central Policy Unit of the Hong Kong SAR Government, said that under the new electoral system, the size of the Election Committee has expanded to 1,500, attracting more people from different backgrounds, covering a wider range and being more representative, ensuring that the elected Chief Executive can represent the overall interests of Hong Kong society and the national interests. The new electoral system is conducive to maintaining administrative leadership, improving the efficiency of government administration, and enabling Hong Kong to concentrate on developing the economy, improving people’s livelihood and enhancing its competitiveness. "Hong Kong will bid farewell to the political chaos that has been debated and discussed in the past, and the future development is expected."

　　The Chief Executive-elect meets the central standards and the expectations of Hong Kong people.

　　Peng-Fei Qi, vice president of the National Hong Kong and Macao Research Association and director of the Taiwan, Hong Kong and Macao Research Center of Renmin University of China, pointed out that the first condition for Hong Kong to achieve good governance is political stability, an efficient and talented SAR governance team, and especially the Chief Executive’s administrative ability should meet the central standards and the expectations of the public. From the comprehensive observation of Lee Ka Chiu John’s experience, past performance, quality and style, political platform and other aspects, he is firm, courageous, pragmatic, strong in execution, humble and close to the people, and good at unity, which fully meets the requirements of being the Chief Executive.

　　According to Chen Xinxin, director of the National Hong Kong and Macao Research Association and director of the Taiwan Province Hong Kong and Macao Law Research Center of the China Academy of Social Sciences, Lee Ka Chiu John’s work style is down-to-earth, and his platform is based on the actual situation in Hong Kong, always putting Hong Kong’s development and people’s livelihood in the first place, emphasizing the breakthrough in the shortest time, directly hitting the pain point of Hong Kong’s social development, and making Hong Kong people full of expectations.

　　Shao Shanbo believes that at present, Hong Kong still faces problems such as the epidemic is not over, the economy needs to recover, the accumulated housing and land in history, and the international political and economic situation is chaotic. "Lee Ka Chiu John is pragmatic and good at absorbing opinions. The new governance team can lead all walks of life in Hong Kong to solve problems together." He said.

　　On May 1, Li Jiachao communicated with the public in Sha Tin, Hong Kong. Xinhua News Agency (Photo courtesy of Lee Ka Chiu John Campaign Office)

　　Kin-Chung Ho, director of the National Hong Kong and Macao Research Association and chairman of the "One Country, Two Systems" Youth Forum, said that Lee Ka Chiu John’s proposal of "solving different problems with results as the goal" impressed Hong Kong people deeply. "These words are more powerful than all kinds of beautiful slogans, reflecting that they dare to do things and take responsibility. They can lead the new governance team to improve governance efficiency, speed up the resolution of deep-seated contradictions, and add acceleration to Hong Kong’s new future."

　　Hong Kong stands at a new starting point and has a bright future.

　　This year, Hong Kong will celebrate the 25th anniversary of its return to the motherland. The next five years will be a crucial period for Hong Kong to move from chaos to governance to governance and prosperity. Experts pointed out that from a new starting point, the new governance team faces many challenges and has more and greater opportunities. The key is to give full play to the advantages of the "one country, two systems" system.

　　"After the implementation of Hong Kong’s national security law and the full implementation of the new electoral system, Hong Kong’s political and legal environment tends to be stable. At the same time, there are still some deep-seated contradictions in economic and social aspects, such as outstanding housing problems and narrow economic and industrial structure." Fang Zhou, research director of Hong Kong’s "One Country, Two Systems" Research Center, expects that the new governance team will further promote Hong Kong’s industrial diversification, create some new economic growth points and provide new development opportunities for the younger generation.

　　Hong Kong Golden Bauhinia Square (profile picture). Xinhua News Agency reporter Wu Xiaochu photo

　　Guo Wanda believes that the 14 th Five-Year Plan clearly proposes to support the construction of eight centers and two hubs in Hong Kong and help Hong Kong consolidate its traditional advantages and cultivate new ones. As long as the new governance team enhances its understanding of the advantages of "one country, two systems", sets up new thinking, takes problem-solving as the guide, promotes the convergence of rules and the flow of factors with other cities in Guangdong-Hong Kong-Macao Greater Bay Area, makes good use of important platforms such as Qianhai, Hengqin and northern metropolitan area, and is more deeply integrated into the overall situation of national development, it can expand new space and inject new impetus into Hong Kong.

　　"Hong Kong’s development has ushered in a new starting point, and the election of Li Jiachao’s high vote is a good start." Ping Huang said that the central government will unswervingly implement the principle of "one country, two systems" and support Hong Kong’s development. The new Chief Executive and the new SAR government should continue to build a red line to safeguard national sovereignty and security, actively respond to various risks, difficulties and challenges, make good use of the state’s support, and seize opportunities, which will surely unite and lead all sectors of Hong Kong society to create a brighter future. (Reporter: Shi Longhong, Zhou Wenqi, Alex Chen, Su Wanming, Liu Huan)

◆ Why did you come here for a cold test?

◆ What does the alpine test measure?

　　The cold test includes many aspects such as the exterior, interior, driving state and working condition of the vehicle, but the most intuitive aspects for users are cold start, defrosting, defogging, interior heating and driving experience.

　　Let’s talk about cold start first. First, the vehicle should stand outdoors for more than 12 hours at the lowest temperature of -30 to -35 degrees Celsius. According to the testers, the test process is fixed, and they have to adjust their work and rest time according to the temperature change, usually starting work at 5-7 am. Because this time period is the coldest, it meets the test requirements. Now Mohe is just dawn at about 8 am.

　

　　In the cold start project, there are two dimensions to measure the results. The first is the start-up time (within 10 seconds, it is up to standard), and the second is whether it can be successfully started at one time. After both of them meet the standards, only one set of tests has been completed, and only three sets have to be completed continuously to be qualified. It is reported that there is no problem. In the case of -35 degrees Celsius, the startup time is about 4 seconds.

　　For users in cold areas, the speed of vehicle defrosting and defogging is also very important. There are also two aspects to measure this project, namely, the time spent on defrosting and defogging and the corresponding area. Testers will collect and record data for these two aspects one by one. In addition, a comprehensive evaluation should be made based on the subjective feelings of drivers and passengers.

　　In addition to defrosting and defogging, the effect of air conditioning will be verified, and the tester will record the temperature of the air outlet and the temperature near the headrest. They also said that, for example, the lower air outlet of the foot should have the same air outlet, and one foot should not be cold and the other foot should be hot. It is reported that in the weather like Mohe, the water temperature of the engine can rise to about 70 degrees in about 5-6 minutes when the vehicle is idling after starting, and warm air is blown out at the air outlet.

　　Whether electronic components can work normally in low temperature environment is also the focus of staff testing. Auchan comes standard with an instrument panel with LCD screen, which is rare in the same model. As shown on the screen, the current outdoor temperature is -18 degrees Celsius, and the instrument information is all normal. The staff introduced that in the case of -30 degrees Celsius, when the vehicle just started and the water temperature was low, there would be a slight smear phenomenon when the big numbers on the dashboard changed, but this situation did not exist after the water temperature rose. There is no such situation on the screen of the sound system next to it. It can be displayed normally at any time, and the system responds quickly.

　　Road verification is also an indispensable part of every day, and the staff will drive vehicles to crawl at low speed and test urban roads, national highways and highways every day. On the way, acceleration and braking tests will be carried out according to road conditions to simulate normal driving habits. The speed range covers 0-120km/h, and the temperature ranges from 0 to -35 degrees Celsius. And according to the temperature change of 5 degrees Celsius as a calibration to collect data. At the same time, it is necessary to analyze the driver’s own subjective feelings to find out the potential problems that may exist in the vehicle.

● Summary:

　　The "three highs" test is mainly aimed at verifying the reliability of products, and Auchan has withstood the test in these aspects. It is not difficult to see from the "three highs" test learned this time that vehicle engineers are engaged in the same boring work day after day because of their fixed workflow and specifications and harsh environment. And all this is to truly simulate the car use of local users and ensure that vehicles can be used normally in any state. As the saying goes, it takes a lot of tempering to become steel.

　　The process and specifications of the "Three High" test involve the business secrets of the manufacturers, especially the data information, so they naturally don’t want to disclose it to me as an outsider. Secondly, the time for participation is very tight, and the information that can be learned is limited. Therefore, this article can only be written from the perspective of personal feelings. However, Auchan is about to be officially listed, and these boring experiments may not be as attractive as the test drive. As for Auchan’s performance in power and control, we will present you with wonderful test drive articles at the end of the month. (Text/Photo/Photo by Liu Wei)

Related reading:

　

    Recently, a group of people in Chongqing Sailisi Liangjiang Smart Factory are witnessing an important moment.

    Jiang Duntao, Vice Mayor of Chongqing Municipal People’s Government, Zhang Xinghai, Chairman (founder) of Celesys Group, Yu Chengdong, Managing Director of Huawei, BU CEO of Terminal, CEO of Smart Car Solution, and representatives of owners and suppliers of AITO, witnessed the 100,000 th production car of AITO.

    AITO asked the world to produce more than 100,000 cars, and it only took 15 months to become the fastest new energy vehicle brand to reach this milestone.

    At the off-line ceremony of mass production vehicles, Zhang Xinghai, chairman (founder) of Celeste Group, said: "Both parties (Celeste and Huawei) will give full play to their respective advantages and cooperate in core technologies, products and channels to create the head brand of smart electric vehicles in China."

   Creating an industry record, AITO asked the world to run out of mass production "acceleration"

    100,000 units, which is an extremely memorable number. Creating the fastest mass production speed in the smart car industry is the result of "1+1>2" cooperation between Huawei and Cyrus.

    "AITO has reached 100,000 vehicles off the assembly line in 15 months, achieving a breakthrough of 0 to 1, marking the recognition and trust of users and verifying the success of the smart car selection model." Yu Chengdong, managing director of Huawei, CEO of terminal BG and CEO of smart car solution BU, said.

    Since the beginning of joint business cooperation in 2021, Celestial Auto and Huawei have jointly designed a "smart car selection" model, which has created an industry precedent for cross-border cooperation between new energy auto companies and ICT technology companies. Cross-border cooperation is rapidly releasing the growth momentum of China’s new energy automobile industry.

    Celeste Automobile is responsible for the research and development of new cars, intelligent manufacturing, service and creating a pleasant car experience in the whole life cycle. As an important integrator of software products in Celeste automobile industry chain, Huawei has empowered itself through core software and hardware technologies such as electrification and intelligent parts, and the two sides have complementary advantages and win-win integration, which has jointly created a leap of 100,000.

    AITO asked the world to run out of the "acceleration" of mass production of new energy vehicles, relying on the powerful intelligent manufacturing strength of new energy automobile enterprises in China. Relying on the quality strategy of Celis automobile products, AITO has not only achieved rapid off-line production, but also met the requirements of high standards in quality.

    In the Sailisi Liangjiang Smart Factory, which is built according to the industrial 4.0 standard, there are over 1,000 robots working together in the workshops of stamping, welding, painting and final assembly to realize highly automated production. Among them, 100% automation of key processes is realized, and 24-hour full-time online inspection is realized, which effectively reduces the labor cost and makes the manufacturing accuracy and product quality reach the first-class level.

    In Sailisi Vehicle Testing Center, AITO vehicles have to pass the tests and verifications of various cabin platforms during vehicle development, such as vehicle noise, vibration and acoustic vibration tests, high and low temperature environment cabin tests, etc. In the road test, there are many tests such as acceleration, braking, stable operation, three high and one wet (high temperature, high humidity, high corrosion and rainy) environment test and ADAS advanced driver assistance system test, which make full use of automation and big data to protect product quality in every link of R&D and mass production.

    Cyrus and Huawei cooperated deeply, and 100,000 production cars were rolled off the assembly line in just 15 months, which fully reflected the control of users’ needs by both parties. Supported by the advanced manufacturing system, it has brought strong product competitiveness.

    AITO has many bright spots in its products. Take Wujie M5 Intelligent Driving Edition as an example. It is not only equipped with Celeste DE-i super electric driving intelligent technology platform, but also equipped with an overhead laser radar, three millimeter-wave radars, eleven high-definition cameras and twelve ultrasonic radars, so as to realize a high-order intelligent driving experience close to L3.

   Create an industry model, and technology+manufacturing promote industrial innovation.

    At present, the automobile industry is undergoing profound historical changes.

    Intelligent automobile is becoming a trend. On the one hand, just like smart phones replacing function machines, intelligent new energy vehicles will become the mainstream in the future automobile industry. On the other hand, the car has also changed from a simple means of transportation to a third space that integrates entertainment, leisure, office and transportation.

    In the process of such transformation, new requirements have been put forward for the automobile industry.

    First, the integration of technology industry and automobile industry is moving from behind the scenes to the front, and the industrial leap is increasingly showing a trend of integration. With the gradual emergence of this trend, the combination of technology enterprises and automobile enterprises has begun to provide more possibilities for the industrial upgrading of China automobile manufacturing.

    Second, the automobile industry is entering the era of "software-defined" cars. In the new stage of development, professional people are needed to do professional things. Only companies that are good at software and hardware cross-border cooperation and deep integration, and give full play to the longboard effect, can we truly create high-quality automobile products that meet the needs of users.

    The cooperation between Huawei and Cyrus actually represents that the integration of technology and manufacturing is gradually deepening. With the continuous growth of R&D investment and the continuous accumulation of core technologies, with the strong alliance between Celestial Automobile and Huawei, AITO will continue to advance in the accumulation of key technologies and high-end product experience, providing users with smarter and more efficient travel solutions.

    From the perspective of industrial change, the integration of top manufacturing and top technology is pushing China manufacturing into a new stage of development.

    In the past development process, the automobile industry has realized the leap of intelligent manufacturing and quality automation. At the same time, China automobile manufacturing has also achieved the transition from auto parts, to complete vehicles, to intelligent electric vehicles. The next step is to continuously lead the development of the industry through technological innovation.

    Nowadays, China automobile manufacturing also leads the world in the field of innovation, and China automobile industry is running out of the development acceleration.

    For example, in terms of innovation, AITO pioneered the GOD(General Obstacle Detection) network in the industry, which can identify alien objects outside the white list of general obstacles; Combined with the road topology inference network, it is the first to realize the high-speed and high-order intelligent driving function in urban areas without relying on high-precision maps.

    Sailis will continue to increase investment and long-term cultivation on the marathon track of innovation, build technical confidence with innovation, and continue to build integrated R&D capability of software and hardware including "full-stack self-research+system integration" to create a powerful, comfortable and convenient product experience for users. Celestial’s business goal is to achieve the production and sales of 1 million new energy vehicles in 2026. For new products, Celestial will continue to invest in new technologies, new materials and new processes, while Huawei terminals will empower new products in terms of intelligence, digitalization and user experience through HarmonyOS system.

    "Sailisi always pursues long-term sustainable and healthy development under the guidance of the development principle of’ persisting in innovation-driven, persisting in long-term, persisting in commercial success’." Zhang Xinghai, chairman (founder) of Celeste Group, said, "In the future, the joint business cooperation between Celeste and Huawei will be deeper and closer, which will promote the transition from 1 to N in AITO, bringing more value to industries, users and markets."

According to Cailian News, at the Huawei Developers Conference held today, HarmonyOS NEXT launched a Beta version for developers, and Huawei Mate 60 series, Mate X5, MatePad Pro 13.2-inch and other devices were upgraded on the same day. It is expected that the Beta upgrade will be launched for consumers in August 2024, and the official version will be launched with the launch of Mate70 series in the fourth quarter.

In addition, Huawei Cloud released Pangu Model 5.0 at the meeting, including different parameter scales such as one billion, ten billion, one hundred billion and one trillion.

It is worth mentioning that Huawei Cloud also released a large model of Pangu’s intelligent body, and demonstrated the Kuafu humanoid robot in cooperation with Leju Robot on the spot, and completed interactive demonstrations such as object identification, question-and-answer interaction, high-five, and water delivery.

Pure blood HarmonyOS has achieved full-stack self-research

At the Huawei Developer Conference, Yu Chengdong, managing director of Huawei and chairman of terminal BG, said,Pure blood HarmonyOS realizes full-stack self-research from the inside out.. "HarmonyOS is a full-scenario intelligent operating system based on Open Harmony, which is an autonomous and controllable operating system from China."

At present,There are more than 900 million ecological devices in HarmonyOS, and the number of Harmony OS developers has reached 2.54 million.. Yu Chengdong revealed that shipments of Pura 70 series increased by 68% from January to May in 2014, and shipments of flagship mobile phones increased by 72%.

Up to now, the first 5,000 APPs have been added to HarmonyOS Eco, and 1,500+apps have been put on the shelves. Yu Chengdong specially thanked mainstream app manufacturers such as Tik Tok, Meituan and Nail.

At the meeting, mPaaS, an ant math department, also announced the progress of three-way co-construction of HarmonyOS Ecology: more than 200 apps including Huaxia Bank, Guangfa Bank, PetroChina and China Mobile started the HarmonyOS development test. It is reported that Ant mPaaS is a mobile development platform under several branches, which has been fully adapted to more than 100 SDK in HarmonyOS.

The science and technology innovation board Journal learned that Zhongtai Securities also pushed its mobile App, Taiqi Futong, to complete the first batch of native application development in HarmonyOS, and launched it in the "HarmonyOS Pioneer Application Zone" in Huawei’s application market. According to the person in charge of the Zhongtai Qifutong team, the post-construction of the HarmonyOS Edition project will realize the optimization of four functions, including the coverage of basic services, the customization of personalized functions of customers, the integrated display of account information and the deep adaptation of HarmonyOS’s characteristic functions.

However, some people related to the industrial chain expressed concern about the ecological construction after HarmonyOS completely separated from Android. “Some overseas apps may not work on pure blood HarmonyOS, including some minority apps. After completely leaving Android, it is impossible for all apps to support HarmonyOS.So there is still a long way to go. However, it remains to be seen how HarmonyOS will advance overseas and how well it will be accepted by consumers. "

Pangu Big Model 5.0 was released to show the interaction of humanoid robots.

Pangu Big Model 5.0 was released today, including models with different parameters and specifications. Among them, Pangu E series with billions of parameters can support smart applications such as mobile phones and PCs. Pangu P series with tens of billions of parameters is suitable for reasoning scenarios with low delay and low cost; Pangu series with hundreds of billions of parameters is suitable for dealing with complex reasoning and can become the base of general enterprise model; Pangu S series super-large model with trillions of parameters is a super-large model to deal with cross-domain multi-tasks

In the past year, the Pangu Grand Model has landed in more than 30 industries and more than 400 scenes, including government affairs, finance, manufacturing, pharmaceutical research and development, coal mines, steel, railways, autonomous driving, industrial design, architectural design, meteorology and other fields.

At the meeting, Huawei Cloud released Pangu’s intelligent model, which supports robots to complete more than 10 steps of task planning, and realizes multi-scene generalization and multi-task processing in task execution. Pangu big model can also generate training videos that robots need.

Zhang Pingan had a dialogue and interaction with the humanoid robot at the scene, and finished high-fiving, handing water and other actions.

The science and technology innovation board Journal reporter learned that Huawei Cloud is cooperating with Leju Robot, and Leng Xiaokun, chairman of Leju Robot, told the reporter,Huawei Cloud and Leju signed a strategic cooperation at the beginning of the year.And jointly explore that application of Pangu big model+Kuafu humanoid robot,The two sides will advance simultaneously in the two major scenes of industry and family..

Zhang Pingan said that apart from humanoid robots, Pangu’s intelligent model can also be used for various forms of industrial robots and service robots, so that they can help human beings to engage in dangerous and arduous work.

"As everyone expected, let AI robots help us to wash clothes, cook and sweep the floor, so that we can have more time to read books, write poems and paint." Zhang Pingan said.

Original title:Huawei Pure Blood HarmonyOS is here! It is expected to be officially commercialized in the fourth quarter

In the compact car market, Nissan and Volkswagen have always been the hot models concerned by consumers. These two cars have their own advantages, both in design, interior style, power performance and market reputation. So, for you who are considering buying an oil car, how should you choose? This paper will make a comparative analysis of Sylphy and LaVida from many angles to help you make wise decisions.

Price and car purchase cost

Price is undoubtedly one of the most concerned factors when consumers buy a car. According to the latest market data, the price range of 2024 Nissan Sylphy is 68.6-13.49 million yuan, while the price range of 2024 Volkswagen LaVida is 49.0-99.9 million yuan. From the price range, LaVida’s starting price is lower, which is more attractive to consumers with limited budget. In particular, the price of LaVida’s entry-level models has dropped to more than 60,000 yuan, which is very rare in the same class. However, it is worth noting that Sylphy often has a large preferential margin in actual sales, and some dealers even offer preferential loan activities and trade-in subsidies, which further reduces its actual car purchase cost.

Appearance design and style

In terms of design, Sylphy and LaVida both show their own unique styles. Xuanyi continues the classic elements of family style, with full machine cover, compact body lines and a large area of blackened net, creating a strong sense of muscle and sports. LaVida, on the other hand, uses a straight waterfall chrome trim and a sharp headlight group, which is simple without losing the sense of strength. On the side of the car body, LaVida’s waistline runs through the car body, adding a sense of movement to the whole car. In the rear part, both cars adopt the design language of their own brands, showing different visual effects. Judging from the overall feeling of appearance, Xuanyi is younger and more sporty, suitable for young consumers who pursue fashion and dynamic; LaVida, on the other hand, is more stable and atmospheric, suitable for home users who pay attention to quality and practicality.

Interior design and configuration

Entering the car, Sylphy and LaVida also have their own advantages in interior design. Sylphy’s interior is similar to the current model. The center console and door panel are wrapped in large leather, equipped with self-luminous 7-inch instrument panel, 12.3-inch central control screen and three steering wheels. The overall style is biased towards home use. LaVida, on the other hand, adopts a symmetrical layout style, with clear functional divisions and convenient operation. Some areas are wrapped with soft materials, matched with stitching and punching technology, which improves the texture of the interior. In addition, LaVida also comes standard with an 8-inch full LCD instrument and an 8-inch central control panel (10.25 inches and 12 inches for high-profile models), and is equipped with MOS intelligent interconnection system and other functions. LaVida is slightly superior in the sense of luxury and technology in the interior. However, Sylphy’s seat design is more generous and comfortable, providing passengers with a better ride experience.

Power performance and fuel economy

In terms of power, Sylphy is equipped with a 1.6L naturally aspirated engine with a maximum power of 90kW(122 HP) and a maximum torque of 155N·m, matching the CVT continuously variable gearbox. LaVida offers 1.5L and 1.5T power versions for consumers to choose from. Among them, the 1.5L naturally aspirated engine has a maximum power of 81kW(110 HP) and a peak torque of 141N·m, matching a 6-speed automatic manual transmission. The 1.5T engine has higher power output. From the perspective of dynamic performance, Sylphy’s accelerated ride comfort and fuel economy are more suitable for urban commuting and home transportation; LaVida’s 1.5T version is more suitable for consumers who have higher requirements for power. However, it should be noted that the 1.5L version of LaVida is slightly inferior to the 1.6L version of Sylphy in power. In terms of fuel economy, both cars have performed quite well. The comprehensive fuel consumption of the Ministry of Industry and Information Technology of Sylphy is between 4.9 and 6.1L/100 km, while the comprehensive fuel consumption of the WLTC of LaVida is only 5.92L/100km(1.5L version).

Market feedback and word of mouth

Sylphy and LaVida, as popular models in the market, have received extensive attention and praise. Many car owners think that Xuanyi’s exterior design is fashionable and dynamic, the interior is comfortable and practical, and the fuel economy is excellent; LaVida, on the other hand, has won the trust of consumers with its stable and atmospheric appearance, exquisite craftsmanship and reliable quality. In addition, the two models have also performed well in terms of safety, and they are equipped with a number of active and passive safety configurations to ensure the safety of drivers and passengers. According to the statistics of the User Behavior Research Institute of Cheping.com, Sylphy won the title of the best word-of-mouth vehicle in the 2023 [Car Review List], and its positive word-of-mouth index reached 9052 points. LaVida also won a good reputation in the market with its balanced performance and excellent cost performance.

Ten years after its establishment, Flash plans to go public in the United States.

According to the official website of the US Securities and Exchange Commission (SEC), on September 13th, BingExLimited (stock code: "FLX") submitted a prospectus to be listed on NASDAQ, with China International Finance Corporation, CLSA, Deutsche Bank and UBS Investment Bank as underwriters.

Since its commercial operation in 2014, as of June 30, 2024, Flash Transport has about 2.7 million registered riders, and its service coverage has expanded to 295 cities in China.

According to the data of the third party iResearch, according to the revenue in 2023, Flash Delivery is the largest independent express delivery service provider in China, with a market share of about 33.9%. According to the prospectus, unit economic benefit and replicable network are the core competitive advantages of Flash, which enables the company to continuously expand its scale and order volume and improve its profitability.

Xue Peng, the founder of Flash, is a veteran in the logistics industry. He has been the CEO since the establishment of the company and has been a director since May 2014. Before the establishment of Flash Delivery, China Express Logistics Integrated Service Platform Easy Post was established and developed. Yu Hongjian, co-founder, director and CEO of Flash, is Xue Peng’s old partner. He worked with Xue Peng for many years before he founded Flash.

According to the prospectus, before the IPO, Xue Peng held 22.7% equity and 74.6% voting rights; Yu Hongjian holds 1.6% equity and 0.5% voting rights. Among institutional shareholders, SIG, CDH Venture Capital and Shun Wei Capital hold 9.7%, 8.9% and 7.8% respectively. They have 3.2%, 2.9% and 2.6% voting rights respectively.　　

According to Tianyancha, Flash has gone through more than ten rounds of financing since its establishment ten years ago. The latest round of financing was completed in 2021. According to the prospectus, in March, April and May of 2021, Flash received 747.8 million yuan from the D-2 round of financing.

In 2023, it turned losses into profits, and the annual gross profit margin increased year by year, but it was less than 10%.

As a one-to-one express delivery platform in the instant delivery industry in the same city, Flash delivery is a pioneer in the instant delivery industry in the same city, providing various exclusive services for different types of delivery for customers, and the share of Flash delivery is the largest according to the revenue in 2023.　

Compared with other real-time delivery platforms, flash delivery once said that its biggest feature is focusing on "one-to-one express delivery", which means that a flash operator is responsible for the whole service process from picking up items from the sender to delivering them to the recipient, and a flash operator can only take one order at a time, and will not take other orders until the current order ends. For this reason, many users tend to choose more respectful exclusive services when faced with the delivery needs of important items such as gifts.

According to the prospectus, it is estimated that from 2023 to 2028, the independent on-demand express delivery market in China will grow at a compound annual growth rate of 27.8%, exceeding the compound annual growth rate of 19.1% of the overall on-demand delivery market in China. By 2028, the overall on-demand distribution market in China will increase to 809.6 billion yuan, and the independent on-demand express delivery market in China will increase to 53.237 billion yuan.

However, at present, the competition in the instant delivery industry in the same city is fierce, and SF Express in the same city, Meituan Delivery in the takeaway department and Dada Group in the e-commerce department are all accelerating to seize the market.

Dada Group (Nasdaq: DADA) was listed on NASDAQ Exchange on June 5, 2020. SF City (9699.HK) was listed on the Hong Kong Stock Exchange in December 2021. Among them, the "first instant retail share" Dada Group has not yet achieved profitability. As the largest third-party instant delivery service in China, Shunfeng Tongcheng started to exert its strength. In 2023, its revenue reached 12.4 billion yuan, an increase of over 20%, and it achieved full-year profit for the first time. In the first half of this year, the income was nearly 6.88 billion yuan, a year-on-year increase of 19.6%; The net profit attributable to the owners of the company reached a record high of about 62.17 million yuan, up 105.1% year-on-year. It is worth noting that after landing in the capital market, the share price of Dada Group has fallen by over 90% compared with the issue price, and the share price of Shunfeng City has fallen by over 30%.

The prospectus shows that the flash has achieved profitability in 2023. The increase in customer demand has promoted higher order volume, and the growing number of riders has enhanced network density and delivery capacity, which has brought about organic growth in customer base and order volume.

Specifically, in the past three years, the revenue of flash delivery was 3.04 billion yuan, 4.003 billion yuan and 4.529 billion yuan respectively, of which 2022 and 2023 increased by 31.6% and 13.1% respectively. In the first half of this year, the revenue from flash transmission was 2.285 billion yuan, a year-on-year increase of 7.6%.　

In the past three years, the net profit was-291 million yuan,-180 million yuan and 110.5 million yuan respectively, of which the year-on-year loss was reduced by 38.1% in 2022, and it turned losses into profits in 2023. In the first half of this year, the net profit was 123.7 million yuan, a year-on-year increase of nearly two times. In 2023, the net profit rate was 2.4% and the net loss rate was 4.5%. The net profit rate in the first half of this year was 5.4%, compared with 2% in the same period last year.　

The prospectus pointed out that the realization of profit in 2023 was mainly due to the increase in government subsidies determined by relevant government departments as appropriate.

In the past three years, the gross profit margin has increased year by year, 6.2%, 6.5% and 8.7% respectively. The gross profit margin in the first half of this year was 11.3%, compared with 8.6% in the same period last year.

The average charge for flash delivery is 16.5 yuan per order: the income is declining year by year, which is obviously higher than that of peers.

According to the prospectus, all the income from flash delivery comes from the fees charged for providing on-demand express delivery services to customers. Flash delivery provides a unified pricing model, and the floating rate of each order is calculated according to the formulas of city, delivery distance, package weight and volume, and night surcharge. If the supply is insufficient due to bad weather or other reasons, the "peak price" may be adopted.

According to reports, the flash network mainly recruits riders through crowdsourcing mode, most of them are crowdsourcing individuals, and a small number of them are recruited from outsourcing distribution agencies in a few cities. After back training, riders become flash riders. According to the prospectus, with high-value services and crowdsourcing mode, we can maintain the light asset business model, reduce fixed costs and maintain high scalability, and quickly enter more cities.

Specifically, the number of registered flash riders increased from about 1.1 million in early 2021 to about 2.7 million on June 30, 2024. The number of registered customers increased from about 31.1 million in early 2021 to about 88.9 million on June 30, 2024. In addition, the number of daily orders for each active rider increased from 7.2 orders in 2021 to 8 orders in 2022, and further increased to 8.8 orders in 2023 and 9.3 orders in the six months to June 30, 2024.

In the past three years, the number of flash orders was 158.6 million, 213.4 million and 270.7 million. In the first half of this year, 138.1 million orders were completed. The corresponding income is 3.04 billion yuan, 4.003 billion yuan, 4.529 billion yuan and 2.285 billion yuan respectively. Based on this calculation, the average income of a single order in the past three years and the first half of this year was 19.2 yuan, 18.8 yuan, 16.7 yuan and 16.5 yuan respectively, showing a downward trend year by year.

It is worth noting that the prospectus quoted the data of the third party iResearch, showing that within six months as of June 30, 2024, Flash delivery can charge a fee at an average price of 16.5 yuan per order, which is significantly higher than that charged by other major participants in the on-demand distribution industry.

However, in terms of risk factors, the prospectus mentioned that although Flash does not intend to compete with aggressive pricing policies that are not conducive to long-term growth, it cannot guarantee that it will not be forced to lower the delivery price of customers, increase the customer incentives we provide or increase our marketing and other expenses to attract and retain customers due to competition, supervision or other reasons, in order to cope with the competitive pressure.

In addition, the salary and reward paid to "Flash Ride" are the largest components of the income cost, accounting for 90.5%, 90.3% and 87.8% of the total income in the past three years, 85.4% in the first half of this year and 87.9% in the same period last year. According to the prospectus, this shows that even in the rapid expansion stage, flash delivery can maintain a stable cost structure in the same period.

As for the growth strategy, the prospectus points out that it plans to continue to expand market share, broaden service scope and application scenarios, strengthen market-leading brand image and invest in advanced and innovative technologies. According to the prospectus, the flash delivery plan improves the penetration rate of the existing market through differentiated distribution services. At present, flashover is still in the early stage of covering the target market, and the geographical coverage of flashover will be extended to more cities in China in the near future. In addition, it plans to use its highly scalable business to expand service products to cover more application scenarios.