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.

John Woo once again denied that he directed "Rain of Swords" Su Zhaobin made fun of Tsui Hark

　　　　At the press conference, John Woo’s first words after taking the stage were: "I am just a producer in this drama, sitting next to the monitor and not talking. The real director is Su Zhaobin." After "clarifying" at the Venice Film Festival that he was not the director of "Sword Rain", Woo once again emphasized this point on the same day, and immediately won a lot of applause from the crowd. He also joked that if he had not thought that this was Su Zhaobin’s film, he would have added a shot of the white dove to the film. Su Zhaobin responded with more humor: "I added the white dove, I put a small white bird in it."

　　　　For the producer Woo Yu Sen, Su Zhaobin also praised, "There will be a lot of pride in his movies, because he is such a person, just like Xu Ke, who has shot so many strange things. In fact, he is such a person." Then Su Zhaobin said as if he suddenly woke up: "Oh! Did I offend Xu Ke?" In "Sword Rain", Yeoh and Zheng Yusheng play husband and wife. The two actors are 11 years apart in age. For this sibling relationship, Su Zhaobin did not feel anything wrong. "Now it is a trend for older girls to match a younger boy. More and more stars are like this, and everyone will not care about age."

??"The Most Beautiful Performance" exposed the visual poster of actor Di Lizheba on January 14. The hair rolled up reveals a slender swan neck, and a few strands of hair are scattered on the plain and white face. The eyebrows are green and the mountain eyes are cut, and the head is slightly tilted to look at you and smile. The poster of Di Lizheba is gentle and sweet, and it radiates the heartbeat of winter healing.

??2017In 2020, a costume fantasy drama "Three Lives Three Worlds Ten Miles Peach Blossom" went LIVE and set off countless heated discussions. The attention and discussion remained high, which also made Bai Fengjiu, a playful, cute and smart nine-tailed red fox, jump into the hearts of many audiences. Three years later, in 2020, Di Lizheba became Bai Fengjiu again in "Three Lives Three Worlds Pillow Book". From the body to the eyes, emotions to the atmosphere, Di Lizheba interpreted the love-hate entanglement and sadomasochism in the play vividly and unforgettable. In the urban workplace romance drama "Happiness is within reach!", which was broadcast in the same year, Di Lizheba turned into an independent and capable workplace elite – clothing designer, company partner Zhou Fang, domineering and bright characters showed his changeable posture and strong plasticity as an actor. Then successively filmed the historical legend of ancient costumes "Long Song Xing", the urban romance drama "You are my glory", whether it is the tough hot-blooded girl Li Changge, or the popular female star Qiao Jingjing, Di Lizheba can always play well between different roles, giving it unique vitality. Farewell to Gao Wen, who has a wide range of fans of "Carat Lovers", Di Lizheba continues to create more shining wonders on the actor’s road in the name of love.

??The past 2020 has been an unforgettable experience in everyone’s heart. Because of perseverance and bravery, we can move forward through difficulties and setbacks, and we can also welcome hope with laughter and tears. Towards the end of 2020, Sina Entertainment pays tribute to the brave "you" in all walks of life with "The Most Beautiful Performance". What stories about bravery will be brought by excellent actors and directors this time? Please wait for the main film to go online to see it! (Lin Yiwen/Wen)

Abstract:2017 Spring Festival Box OfficeNew highs,With a perfect finish of 3.336 billion yuan,An increase of 8% over last year. The number of moviegoers also reached 88.11 million, a slight increase over 2016. Among them, "Journey to the West to Fighting Demons" swallowed 1.153 billion yuan and became the box office champion of the Spring Festival. "Kung Fu Yoga" 872 million, "572 million" Havoc in Tianzhu "," Riding the Wind and Waves "412 million, ranked second to fourth in this year’s Spring Festival box office rankings.

1905Movie Network News 2017The Chinese Lunar Year of the Rooster has ushered in a good start for the mainland film market. According to preliminary statistics, from1month27New Year’s Eve2month2On the sixth day of the new year, the shadow market is swallowed in 7 days33.36100 million yuan, more than last year’s Spring Festival30.8The box office increased by 8.3 billion.%…33The figure of 100 million has once again broken the Spring Festival record, and there is no doubt that the Lunar Year of the Rooster has become the strongest Spring Festival record in history.

　

"Westward Journey to Fighting Demons",,, and five new films that opened on the first day of the new year have achieved quite bright results. They have respectively harvested 1.153 billion, 872 million, 572 million, 412 million and 297 million box office, leading the Spring Festival file. It is worth mentioning that since the fourth day of the new year, Jackie Chan’s "Kung Fu Yoga" has pulled down the biggest hit "Westward Journey to Fighting Demons" produced by Stephen Chow and directed by Tsui Hark, and has become the single-day box office champion for three consecutive days.

　

In addition, the cumulative box office of cartoons that opened on February 1 reached 10.02 million. Those that opened on January 27 performed poorly, and only received 13.52 million yuan in box office after 7 days of release.

　

"Journey to the West" broke the record of the first day of gold 1.10 billion, but the explosion was counterattacked by "Kung Fu Yoga"

　

Following last year, Zhou Xingchi, Guo Zijian directed, Zhou Xingchi supervised the film "Westward Journey to Fighting Demons" this Spring Festival and came out on top, the first day of the new year to attract money 353 million (including zero single-day box office for 365 million), broke the dust for two years, by April 2015 set a box office record of 345 million yuan (the film contains zero single-day box office for 398 million), sitting on the throne of the first-day box office champion in our country’s film history. At the same time, "Westward Journey to Fighting Demons" also defeated "Mermaid" and became our country’s fastest breaking 200 million and fastest breaking 300 million movie. Ultimately, the film was swallowed 1.153 billion yuan at the box office during the Spring Festival.

　

"Journey to the West" no suspense to lead the Spring Festival file, but surprisingly, the film box office has been declining, from the first to the sixth day of the new year, "Journey to the West" were reported 353 million, 215 million, 179 million, 145 million, 130 million and 116 million. The previously less optimistic action comedy film "Kung Fu Yoga" has been making great progress, in the Spring Festival holiday respectively 137 million, 126 million, 141 million, 148 million, 160 million and 153 million, the box office not only rose steadily, but also from January 31st on the fourth day of the new year, for three consecutive days to surpass "Journey to the West", the sudden counterattack became the single-day box office champion, leading the second half of the Spring Festival file.

　

In the end, "Kung Fu Yoga" reached 872 million yuan in the six days of the Spring Festival, 280 million behind "Journey to the West" and ranked second in the Spring Festival box office. However, on the first day of work after the Spring Festival on February 3, "Kung Fu Yoga" still received 25% of the pre-arranged films, and "Journey to the West" won the first place in the row. The follow-up box office of "Kung Fu Yoga" also continued to rise.

　

Four films kept pace and led the Spring Festival file "Havoc in Tianzhu" fell all the way, and the reputation of "Riding the Wind and Waves" rose

　

In addition to "Journey to the West to Fighting Demons", Wang Baoqiang’s directorial debut "Havoc in Tianzhu" can be said to be the most concerned film during the Spring Festival, but after the film was released, word-of-mouth hit the street, resulting in a high box office opening and low box office. 187 million, 114 million, 88.843 million, 67.723 million, 58.214 million, 49.773 million yuan, the box office trend of "Havoc in Tianzhu" from January 28 to February 2 is obviously insufficient stamina. From the second day of the new year, "Havoc in Tianzhu" was surpassed by "Kung Fu Yoga", and on the fourth day of the new year, it was pressed by Han Han’s second big screen work "Riding the Wind and Waves". From the third to the sixth day of the new year, the single-day box office was less than 100 million yuan, and the film also fell from the runner-up in the single-day

　

The most controversial film in the Spring Festival is "Riding the Wind and Breaking the Waves". This time, Han Han once again challenged the big screen, but he did not expect to bear the charges of "straight male cancer", "giant baby" and other values. The film was also boycotted by Xu Jiao and other star companies on Weibo. At the beginning of its release, the film did not perform well. It only received 67.66 million yuan at the box office on the day of its opening, which is far from "Journey to the West", "Havoc in Tianzhu", and "Kung Fu Yoga". However, with the word-of-mouth fermentation of "Riding the Wind and Breaking the Waves", the film has also been affirmed by the audience. Since the third day of the new year, the box office has been growing all the way, and "Riding the Wind and Breaking the Waves" has also harvested 412 million yuan at the box office in

　

Last year’s Spring Festival file, "Mermaid" was a big one, followed by, forming a triangular pattern. This year’s Spring Festival file did not have an absolute explosion, but formed a situation where the four films of "Journey to the West", "Kung Fu Yoga", "Havoc in Tianzhu" and "Riding the Wind and Waves" were neck and neck. The four films also joined forces to cut off 3.006 billion box office in the Spring Festival file, accounting for 90% of the total box office of this year’s Spring Festival file.

　

In addition, also on the first day of the new year, the cartoon "Bear Haunted · Fantasy Space" has accumulated box office 297 million during the Spring Festival. In order to avoid blockbusters, the "released one day in advance" has only received 13.53 million yuan at the box office as of February 2, and the results are quite dismal. The animated film "", which opened on February 1, received 10.02 million in two days.

　

The Spring Festival file has grown for ten consecutive years, and the Year of the Rooster has set a new record. On the first day of the new year in 2017, the box office broke the 800 million mark

As soon as the Lunar Year of the Rooster opened in 2017, the Chinese film market ushered in a good start. On January 28, the first day of the new year created a new record for the single-day box office in our country’s film history. On the same day, the market reported 803 million, which was 160 million yuan higher than the single-day box office of 646 million yuan on the first day of the new year last year, an increase of 24%. The New Year’s Spring Festival has always been a lucky day for our country’s box office, and has been growing rapidly for more than 5 years. In 2012, our country’s single-day box office during the Spring Festival was only 61 million. On the first day of the new year in 2013, the single-day box office during the Spring Festival broke through the billion yuan mark for the first time. In just 5 years, to the 2017 Lunar Year of the Rooster, the single-day box office during the

　

In addition to the super high box office on the first day of the new year, the box office trend from the second to the sixth day of the new year is also relatively stable, maintaining a single day at around 500 million yuan, which will also bring the total box office of the Spring Festival file this year (January 27-February 2) to a high point of 3.33 billion yuan, an increase of 8.3% over last year. In 2008, our country’s total box office of the Spring Festival file broke through 100 million for the first time. At that time, there were only 115 million, which was not enough for the single-day box office of "Journey to the West". In 2014, our country’s Spring Festival file broke out, soaring 81%. The box office of the Spring Festival file also broke through the 1 billion yuan mark for the first time, reaching a historic 1.466 billion. Two years later, the box office of the Spring Festival file has jumped from 1.82 billion to 3.08 billion last year.

　

Up to now, our country’s Spring Festival box office has increased for ten consecutive years. During this decade, the total box office of the Spring Festival file has increased by 28 times, which is quite impressive. This year, the Spring Festival file has reached a new level, and the box office has exceeded 3.33 billion in 7 days. There is no doubt that 2017 has also become the strongest Spring Festival file in our country’s film history.

Original title: The only high-powered hybrid 7-seat SUV within 250,000 yuan, starting from 229,800 yuan, Sharp L Qingdao Auto Show was officially listed.

Source: Love Qingdao

Original title: The only high-powered hybrid 7-seat SUV within 250,000 yuan, starting from 229,800 yuan, Sharp L Qingdao Auto Show was officially listed.

Source: Love Qingdao

April 30thFord Sharp L, a 7-seat hybrid L SUV, was officially listed at Qingdao Auto Show. The manufacturer’s guide price of fuel version was 229,800-279,800 yuan, and the manufacturer’s guide price of e-hybrid version was 249,800-309,800 yuan, which more accurately met the subdivision needs of home users. Sharp L has evolved in an all-round way. With the length of 5 meters+wheelbase of nearly 3 meters, 2/2/3 seat layout+two rows of double suspended first-class seats, high-powered E- hybrid system+mechanical true four-wheel drive, SYNC+2.0 human-computer interaction +L2-level intelligent driving, it has become an artifact for the whole family to travel, and with the product strength of winning more cars with one car, it has become a better choice for selfless charging pile families with seven seats. In addition to Sharp L, Mondeo and Explorers all appeared at the auto show, which added a lot of attraction to Changan Ford booth.

Qingdao International Auto Show Sharp L Listing Conference

The only high-powered hybrid 7-seat SUV within 250,000 yuan, selfless pile family is more preferred:2.0T EcoBoost?E- hybrid two-wheel drive seven-seat fashion model, 249,800 yuan, that is, it has high horsepower and super E- hybrid, 202kW high horsepower, 6.31 liters WLTC with ultra-low fuel consumption and 1188 kilometers long battery life, which meets the high-quality hybrid travel experience of selfless charging pile families. The 8-year or 160,000-kilometer warranty service of the three power systems adds an extra guarantee for travel.

Within 300,000 yuan, all of them have high horsepower and super E- hybrid+mechanical true four-wheel drive+first class seat +L2 intelligent driving assistance:2.0T EcoBoost?E- Hybrid Four-wheel Drive Seven-seat Extreme Manufacturer’s Guide Price is 299,800 yuan, equipped with high-powered and super-strong E- hybrid and mechanical four-wheel drive system, which has strong power, ultra-low fuel consumption and multi-road trafficability; Equipped with double near-zero gravity suspended first-class seats, with leg rest, seat heating, ventilation and wireless charging; Equipped with a 27-inch super wide-area giant screen, it integrates your SYNC?+2.0 Zhixing interconnection system and L2 Ford Co-Polit 360TM Zhixing driver assistance system.

5 meters conductor +223 seat layout, every member of the family has VIP experience.

Sharp L has a length of 5000mm* a width of 1961mm* a height of 1773mm and a wheelbase of 2950mm, creating a spacious and comfortable mobile home. Sharp L innovatively adopts 2/2/3 seat layout. When a family of 2-4 people travels, it can become four luxurious seats in a second; When many people and big families travel, they can be transformed into super big five seats and comfortable big seven seats, opening up the infinite possibilities of family travel life at any time. Sharp L2.0t EcoBoost two-wheel drive seven-seat luxury model adds 2/2/3 seat layout, which conforms to customers’ recognition and demand for 2/2/3 layout.

Sharp L has also made a brand-new design and development for the profile material, outline lines and soft and hard dimensions of the seats according to the body shape characteristics of China consumers, which is more ergonomic, with better wrapping, fit and support, so that every member of the family can have a VIP-like experience even if they travel for a long time.

It is worth mentioning that Sharp L has carefully built two rows of double suspended first-class seats with comfortable leg rests, and can also switch the near-zero gravity mode with one button. The backrest angle can be adjusted backward to 41, and the included angle between backrest and thigh can reach 105, bringing as comfortable as floating clouds. The maximum legroom in the second row is 1190mm, and it is also equipped with seat ventilation, heating and independent temperature zone control, wireless charging, etc., which is a proper first-class experience. At the same time, the narrowest distance of the central passage of the second row of seats is 200 mm. After the armrest is folded, it is easy to get in and out of the third row.

In addition, Sharp L is also equipped with a 12.3-inch dashboard+a 27-inch ultra-wide HD 4K giant screen +HUD head-up display, a large panoramic sunroof, B&O brand audio +ANC active noise reduction system and many other luxury configurations to make the journey more relaxed and enjoyable.

High-horsepower E- hybrid+mechanical true four-wheel drive, 7-second acceleration of 1188 km battery life, "selfless pile" family is more preferred.

Sharp L Hybrid Edition comes standard with Ford’s brand-new high-powered and super-strong E- hybrid system, which can achieve 7.1 seconds of acceleration and super performance, 6.31 liters of WLTC with ultra-low fuel consumption and 1188 kilometers of long battery life, without charging, and meet the high-quality travel needs of selfless charging pile users without anxiety.

In terms of performance, Sharp L is equipped with Ford’s brand-new fifth-generation 2.0T EcoBoost? dual-vortex turbocharging+dual-injection fuel system engine, with rated power of 202kW and maximum torque of 405 N m. No.92 gasoline can be added without being picky about food, and strong power can solve the pain point of general power shortage of hybrid vehicles.

In terms of battery life, Sharp L adopts Ford’s mature and advanced power split hybrid technology. By coupling the engine and the generator with a planetary gear mechanism, it realizes power split at the input end of power and achieves the balance between power and fuel consumption. Coupled with highly integrated electric drive systems such as high-efficiency high-speed flat wire oil-cooled dual motors and electric controllers, as well as highly integrated and lightweight ternary lithium water-cooled battery packs with low nickel, the fuel consumption of Sharp LWRTC is as low as 6.31 liters per 100 kilometers, and the battery life of a tank of oil reaches 1,188 kilometers, far from the anxiety of charging. Take your family to the mountains and the seaside to open the world together.

In addition, Sharp L is also equipped with an intelligent timely mechanical four-wheel drive system with millisecond switching. Real mechanical four-wheel drive with five driving modes of standard/economy/sport/wet road surface/simple road surface can easily realize the free switching from urban to rural multi-scene and multi-road conditions.

Cutting-edge intelligent technology+hard core car-making strength,The whole family is convenient and safe to travel.

L2 Ford Co-Pilot360? Zhixing Driver Assistance System can realize over 20 active driver assistance functions. Among them, Ford BlueCruise Blue Smart Drive builds intelligent driving with man-machine co-driving, realizes quasi-automatic driving in the speed range of 0-130km/h, and adds brand-new turn signal lane change assistance and intelligent avoidance assistance in the lane. Intelligent Vehicle Infrastructure Cooperative Systems, the first mass-produced vehicle in the industry, is connected to the smart transportation system of the city, which provides information such as traffic lights, congestion and accidents on the road ahead, and at the same time provides functions such as green wave speed and red light warning, making travel more predictable and efficient.

Virtual artificial intelligence partner VPA’s SYNC?+2.0 intelligence interconnection system can understand your human-computer interaction in seconds, integrate Baidu artificial intelligence technology, and have super-semantic voice interaction, which can realize natural and smooth human-computer dialogue, voice-controlled vehicle interconnection, multi-destination navigation and other functions, and can also enjoy cloud audio and video content at a high speed; Voice can also control hardware functions, including air conditioning, ambient lights, trunk and skylight and other usage scenarios. Visual virtual artificial intelligence assistant VPA zhixing partner can constantly learn the preferences of car owners and always be your intimate "blue basin friend". The OTA of the whole vehicle is always new.

Sharp L fully considered the safety of everyone in the whole family at the beginning of design. Based on profound technical accumulation and complete supply chain control, Changan Ford ensured the quality reliability of the whole vehicle with uncompromising quality standards, unambiguous details, spare no effort in material workmanship and uninterrupted quality testing in the manufacturing process. Sharp L has achieved a super-large body structure covered with boron steel, accounting for over 50%, and the roof can bear the weight of five sharp L. Especially in the battery safety concerned by users, the battery pack used by Sharp L has passed the life verification of over 25,000 charge and discharge cycles, 2-hour seawater immersion, salt spray test 12 times higher than the national standard, overcharge, acupuncture, drop and other tests to ensure the safety of use in various environments.

Advanced in the power control and other superior products, covering all aspects of the space and comfort that users pay attention to, Sharp L is beyond the mainstream value paradigm of the 7-seat hybrid SUV, and will meet the needs of more China family users for multi-scene and high-quality vehicles with competitive price-quality advantages.

Car-wide preferential policies *

Buy Ford Sharp L now and enjoy a family trip package worth up to 28,000 yuan.：

Travel gift, valued at 3,888 yuan, family travel gift.

Buy a car and enjoy a replacement gift of 6,000 yuan; Ford (including imported) brand/Changan brand replacement enjoys an additional subsidy of 4,000 yuan; Any brand replacement enjoys free basic maintenance for life; 36 "0" interest rate car purchase financial policy

Car gift, 8-year/160,000-kilometer hybrid vehicle special three-electric system warranty; 3 years/100,000 km vehicle warranty; Free basic maintenance for 3 times in 3 years; 2 years free road rescue

The recommender can get 30,000 lucky coins for the face-to-face gift; The recommended person received 20,000 lucky coins.

— — — — — — — — — — — — — — — — — — — — — — —

* The activity time is from April 28th to May 31st, and the rights and interests enjoyed by different models are different. Take Changan Ford’s new generation Mondeo as an example, you can enjoy a gift of 26,888 yuan for buying a car. The rights and interests of this activity cannot be shared with the rights and interests of Ford Mall’s April "Opening the World Travel Season" and April "Mondeo Anniversary Celebration".

* 1 yuan of Ford Mall will have a chance to win a car red envelope of up to 11,888 yuan by ordering a lucky draw, and the rights and interests of the event are limited to the purchase of Changan Ford’s new generation Mondeo.

* Ford Mall can enjoy a car purchase ticket of up to 2,000 yuan under 1 yuan, and the active models include Changan Ford EVOS and Sharp International (including Sharp International PHEV).

* Please refer to the actual vehicle for product content, and please contact the local dealer for details.

On January 18, 2024, Huawei announced that the developer preview of HarmonyOS NEXT Hongmeng Galaxy Edition is open to developers, which means that the Hongmeng ecosystem has entered the second stage, which will accelerate the application of Hongmeng in thousands of industries.

Yu Chengdong, executive director of Huawei, CEO of End Point BG, and chairperson of BU Smart Car Solutions, announced the latest progress of Hongmeng Ecology: The number of Hongmeng ecological devices has increased from 700 million to 800 million in 5 months, and all kinds of industries are connected, which will open a new blue ocean of trillion-level industries. At present, the first batch of more than 200 application manufacturers are accelerating the development of Hongmeng native applications. Yu Chengdong said, "In 2020, it is proposed that’no one can extinguish the starlight in the sky ‘. With the joint efforts of many partners and developers, the trend of Hongmeng Ecology has become a reality. As a full-scene operating system for the Internet of Everything, Hongmeng Ecology belongs to every developer."

It is reported that Hongmeng has been building a full-scene operating system for nearly ten years since the project was established in 2015. At present, Hongmeng system has been running on many full-scene devices. HarmonyOS has taken root and broken through the core technologies of operating system kernel, AI big model, AI framework and compiler, programming language, etc., laying a solid foundation for ecological construction. In particular, Hongmeng kernel, beyond the traditional kernel, has the characteristics of more flexibility, more security, more fluency, and more adaptable to the diversity of all-scene devices.

The Hongmeng Galaxy Edition, which is currently open to developers, will create the ultimate experience of native delicacy, native ease of use, native fluency, native security, native intelligence, and native interconnection. Hongmeng will also become an operating system that connects hardware, scenes, supports diverse interactions, and circulates freely.

Since Huawei announced the upcoming release of HarmonyOS NEXT in September 2023 and the full launch of Hongmeng native applications, the first batch of more than 200 Hongmeng native applications has been accelerated, covering convenient life, travel and tourism, financial convenience, social information, productivity tools, audio and video entertainment, games and other fields. The Hongmeng native application landscape has basically taken shape. At the same time, Ant Group, China UnionPay, iFLYTEK and other partners have also opened up vertical innovation capabilities. Together with Huawei’s base capabilities, it provides developers with an efficient full-link power builder. The development workload can be reduced by up to 90%, helping the industry accelerate the development of Hongmeng applications. Partners can also quickly access the Hongmeng ecosystem through the minimalist development of meta services.

A steady stream of talents is also an inexhaustible driving force for ecological growth and advancement. In terms of talent training, 305 college students have participated in Hongmeng activities, Hongmeng campus open courses have entered 135 colleges and universities, 286 enterprises have participated in Hongmeng Ecological Academy, 380,000 + developers have passed Hongmeng certification, and more than 150 industry-university cooperation projects have provided a well-stocked "granary" for the continuous innovation and prosperity of Hongmeng ecology.

Hongmeng is a new ecosystem facing the all-scenario era. With the Hongmeng ecosystem entering the second stage, Huawei expects to join hands with more developers to accelerate the application of Hongmeng in thousands of industries.

At present, under the distribution of Hongmeng’s full-scenario service, 87.6% of the required cockpit operations will be completed by Xiaoyi; the number of mobile phone Xiaoyi MAU users has exceeded 200 million, and the intention items covered by Xiaoyi scene cards have exceeded 100. A new ecosystem of "everything is a service, everything can be shared" has been formed.

The end-cloud collaborative native intelligence feature of Hongmeng Galaxy Edition can not only benefit users, but also support applications to use large model capabilities efficiently and safely. As low as "one line of code", Hongmeng native intelligence can be called, allowing developers to apply "zero-cost" AI. In addition, relying on the new "heterogeneous native" parallel mechanism of Hongmeng Kernel, it can make the kernel extremely smooth and improve the efficiency of memory management by 3 times.

Hongmeng’s internal nuclear-level security capabilities have been certified by the industry, and through innovative privacy architecture, the pop-up authorization has been greatly reduced, reducing the risk of privacy leakage from the root cause, enhancing consumers’ perception of privacy protection in an all-round way, making the experience simpler and privacy more secure.

In order to further boost the development potential of Hongmeng’s ecosystem, Huawei announced the "Yaoxing Plan" to invest 7 billion yuan to encourage Hongmeng developers to innovate in Hongmeng’s native applications, meta services, SDK, etc. At the same time, Huawei will work with partners to rely on Hongmeng Ecological Academy, universities to jointly cultivate Hongmeng talents, and cities to release Hongmeng talent training policies to cultivate 100,000 Hongmeng developers every month. And announced the opening of the 2024 HarmonyOS Innovation Competition, providing developers with an open API for training and continuous advancement through competitions.

Hongmeng Galaxy Edition is expected to release a developer beta version in Q2 2024, and a commercial version for consumers in Q4.

　 　 In 2013, Xiaomi launched its first smart TV product, which has now reached the fourth generation. The TV system is also constantly being upgraded and evolved. New and old models have been equipped with or upgraded to the PatchWall puzzle wall system. The following small settings may make your Xiaomi TV easier to use.

1. Commonly used software is placed on the first screen

　 　 Although Xiaomi TV has assembled several video platforms, it still has certain limitations in terms of resources, so it is still necessary to install some third-party video software. Of course, the simpler the steps to open these software, the better.

Put the software at the top and it will appear on the first screen.

　 　 The software entrance of Xiaomi TV is located on the homepage of the desktop, but only 5 icons will be displayed, and the others will be folded in "More". The newly installed software will be automatically arranged backwards and will not be displayed on the homepage. At this time, you only need to click "Sort" above to put the commonly used software at the top, so that they can appear on the homepage. Each time you open it, you don’t need to look for it for a long time.

2. Automatically clean up TV waste

　 　 The current Xiaomi TV basically comes standard with 2GB of memory + 8GB of flash memory, which is enough under normal circumstances, but it will occasionally feel stuck after using it for a period of time. After all, it is the Android system. At this time, you can use the built-in "one-click acceleration" and "one-click cleaning" tools of Xiaomi TV.

TV Butler turns on automatic cleaning

　 　 In fact, there is no need to wait for the TV to change the card before using these two tools. In the "TV Butler", automatic cleaning can be turned on, and the cleaning frequency and cleaning timing can be customized, which saves a lot of trouble.

3. Remote control wired set-top box

　 　 A few months ago, along with the arrival of the Xiaomi TV 4A came the latest generation of Bluetooth touch voice remote control. The voice function goes without saying. This remote control, which sells for 99 yuan, also has a very magical function. It can control the cable TV set-top box at home, thus eliminating the need for frequent switching between the two remote controls.

The binding process of TV remote control and cable set-top box

　 　 How to do it? First, you need to enter the display interface of the set-top box, press the menu button of the remote control, and select "Bind the set-top box" on the pop-up interface. According to the prompts on the TV, after setting the city and region where you are located and the operator of the cable TV set-top box, you can start matching, and the matching will be successful soon.

Voice Switch

Press the OK button to enter the live TV wall.

　 　 After matching, you can use the up and down buttons of the Xiaomi remote control to change the channel. At the same time, it also supports voice change. If you directly say the channel you want to watch, it will automatically jump. In addition, if you press the OK button of the remote control, a live TV wall will appear, which will display the current live program information. It is much more convenient than using a wired remote control. The only inconvenient point is that you cannot control the opening/closing of the set-top box.

4. Block boot ads

　 　 Xiaomi TV now has 15/30 second advertisements when it is turned on, and many other smart TVs are basically the same. In fact, you can make the boot advertisements no longer appear through settings.

　 　The setting needs to be carried out on the router. The router must have the function of URL blocking. After entering the router management background, add the above URLs to the blacklist, so that the TV will no longer receive advertisements.

　 　 If you find other interesting skills when using Xiaomi TV, please leave a message to share. ■

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Editor of this article: Li Fusheng

Pay attention to bubble network, enjoy technology life.

The single-quarter NIO, as we all know, is a miserable existence, and the stock has suffered a small decline as a result. Therefore, many people are wondering how unfavorable the situation of NIO is. However, in my opinion, even if NIO falls badly at this stage, their days will not be much worse. Even the current NIO still has a great opportunity to turn around. Many people here will start to say that NIO should learn from other car companies to increase revenue and cut costs, so as to relieve revenue pressure.

And how to increase revenue and reduce expenditure, many friends must be eyeing the most expensive thing in NIO now, that is, NIO’s power station replacement. While this thing burns money, it has to continue to invest. After all, the cost and operating expenses of each power station replacement are a huge expense. Even if NIO wants to save money, it can’t hold up the fact that this thing is really burning money, not to mention the existence of a bottomless pit.

It seems that NIO has to give up on replacing power stations, but in my opinion, NIO not only cannot give up on replacing power stations, but also needs to increase the speed of laying and accelerate the construction of replacement power stations. Taking advantage of the fact that its old opponents have not yet reacted, it is the first to complete the large-scale construction of replacement power stations. This is the greatest good thing for NIO. Why? It is a very simple matter. What NIO needs now is to create a replacement model. As long as the more power stations are replaced, the safer the future of NIO will be.

And the most typical case, it must be next door JD.com, before, JD.com as the second brother of the electricity supplier, has been hit by Taobao on the ground, and later, killed out a Pinduoduo, stunned is from their two hands crazy grab the market, scared JD.com for this tiger body shock, many people think JD.com may be finished, the result, just to now, the reason is because JD.com has a Wang fried they do not have, that is, self-built logistics, with strong logistics capabilities abruptly over other e-commerce platforms.

And let’s look back at NIO again. NIO is the most powerful thing, not a car at all, but a power station. Even if NIO’s cars are rubbish, as long as the current NIO can accelerate the construction of power stations, other car companies will spread power stations all over China when they have not responded. At that time, even if other car companies want to quickly replace power stations, they can only stare at them, because they have been firmly stabilized by NIO, other car companies can only accept being beaten passively.

In particular, the current development of new energy in China, previously disclosed in August, the market share of new energy has reached a terrifying 32.8%, what do you mean? That is, new energy will be the mainstream model of the domestic automobile industry in the future, and there will only be more and more cars are new energy, and the long-standing problem of new energy is the charging problem of cars, and the power exchange mode solves this major pain point very well. At that time, NIO will definitely be able to usher in its own future.

Therefore, in my opinion, NIO not only cannot reduce the construction of power stations, but also needs to increase the construction of power stations, especially the spread of power stations throughout China’s large and small cities, and even the construction of one or two counties. In this case, the benefits will appear immediately. When purchasing a vehicle, many potential car owners will choose NIO cars because there are NIO power stations near their homes or in their cities, further increasing the number of NIO.

And don’t forget one thing, the biggest pressure on NIO power station replacement comes from operating expenses, and enough NIO owners will directly flatten the cost of NIO, thus realizing the countervailing of NIO. In short, I personally think that at this stage of NIO, the biggest capital is to replace the power station. No matter how good the car is, it is useless. After all, there are so many competitors on the market, but few car companies can afford to replace the power station. Naturally, the opportunity for NIO is much greater than that of other car companies.

1905 movie network feature From 2012 to 2022, the director made five films in ten years. He was the most satisfied, the most frustrated, and the most unforgettable collaboration. Jackie Chan’s "hard work" in the action drama made him feel the power of love, which is still unforgettable.

In the same decade, movie fan Jin Long Zhe made an important life decision – to give up his stable job in his hometown and go to Beijing alone. He lived in a 5-square-meter rental house, and his material life was not rich, but as long as he stepped into the theater and saw the changes on the screen, the spiritual world would have its own light.

Since October 5th, the movie channel has launched a special series of documentary reports on "This Decade, Our Film Life". In this episode, we will talk to director Ding Sheng and fan Jin Longzhe to listen to their understanding and love for movies.

Director Ding Sheng

I have made five films in ten years, and I am most satisfied with "Rescue Mr. Wu".

When he was young, Ding Sheng cherished every opportunity to watch movies. He was especially obsessed with action movies and the impact they brought, which he remembered very clearly. Later, from watching movies to making movies, he has been deeply involved in the field of police and bandit action movies in the past ten years.

Of the five films he has made, "Police Story 2013" and "Rescue Mr. Wu" all belong to this genre. He said that he is unwilling to do repeated things, and he likes challenges every time he creates. Challenge success, not arrogant or impatient. Challenge failure, face it calmly.

Before the filming of "Free Mr. Wu" began, Ding Sheng made a bold decision – not to draw split scenes throughout the film, leaving enough room for the main actors to play. The "famous scene" of the film, when the kidnappers forced him to say key information, the kidnappers used wires to strangle him and made him blush, which was the result of the actors improvising.

The script originally did not intend to use wires as props. During the rehearsal, Andy Lau took the initiative to suggest that he was not emotional enough, and it was best to find something to restrain him and keep his face red. So the prop team found a wire at the scene.

The actor who was originally responsible for the scene with Andy Lau was a huge fan of his. Suddenly he was asked to restrain his idol with a wire, but he couldn’t do it. In the first scene of the scene, Andy Lau was very dissatisfied. Later, another actor finally "hit him hard". In a 10-minute long shot, there were two or three minutes in the middle, and Andy Lau’s neck was strangled all the time, the arteries on both sides were stuck, and his face was suddenly swollen.

There was a close-up machine at the scene, which could capture the bloodshot in his eyes. At that time, Ding Sheng wanted to stop, but he was reluctant to give up the actor’s emotions. He still remembered that Andy Lau’s bodyguards kept filming him from behind, meaning, "The director is almost done, so you can’t play like this."

"Free Mr. Wu" has gathered a lot of effort from Ding Sheng, who wrote and directed it himself and was responsible for editing the whole process. Later, the film performed well at major award ceremonies, and Ding Sheng won the Golden Rooster Award for "Best Editing" for this film. "Free Mr. Wu" has become his most satisfactory creation in the past ten years.

Instead, "The True Colors of Heroes 2018," a work he considered to be less successful, was launched without much thought. During filming, he could already feel that "this movie will leave a lot of regrets. I may not have any attempts to remake it in the next ten years."

It has been three years since the release of the last work "SWAT Team", and Ding Sheng has not made a movie for a long time. According to him, the script of "Tough Guy 3" has been written, waiting for an opportunity to start.

In the days when he was not filming, Ding Sheng was a film teacher and was in charge of teaching the second grade at his alma mater, Beijing Film Academy. He always liked to emphasize to his students that making movies requires talent first, and more important than talent is hard work, and more important than hard work is love.

He often uses Jackie Chan as a positive example to share. In "Police Story 2013," Jackie Chan is trapped in a closed cabin and is tied to a large iron chair by the gangster he plays. At that time, the crew thought of many ways to tie it. After seeking fresh effects, Jackie Chan finally suggested that he tie him to the chair with thick wire, and he tried to twist his wrist to break free.

During the filming process, Jackie Chan twisted his wrist again and again, and twisted his skin. The assistant director cried directly from the side. But Jackie Chan still insisted on continuing to shoot in order to keep the scene, rather than dealing with the injury immediately. Ding Sheng has worked with Jackie Chan on three films before and after. He commented that the other party is a gift from God to the film, and Jackie Chan’s love for movies is sincere from the heart.

Looking back on the past ten years, he summed up that "more regrets than successes", but this did not prevent him from persisting in film. He insisted on continuing to challenge problems in this field and enjoying the creative process. Ding Sheng will persevere in his film path and welcome the next decade.

Fan Jin Long Zhe

Collect thousands of ticket stubs, watch movies above all else

Before you know it, Jin Longzhe has been in Beijing for almost a decade. He has never been to the Forbidden City or the Great Wall, but he is as familiar with the China Film Archive as he is at home. As a regular visitor to the film archive, he is also a freelance writer. He likes to stay in the cinema, and his stay is a whole day. At most, he can watch six or seven movies a day, and the annual reading volume is at least 400 +.

About ten years ago, Jin Longzhe was a "young boy" who had just graduated from college. He was introduced to a stable job in his hometown with a good salary, as if it was tailor-made for him. But at the last moment of joining the job, he rejected HR on the grounds that he "wanted to do a job related to movies."

Then he set off on his own journey to the north, interviewing for 40 jobs and finding 20 houses. For a long time, he lived in a room of only 5 square meters. "I don’t feel unhappy. Every time I come back to the small room after watching a movie from the library, I am very happy." Jin Long Zhe said that he likes the moment when the lights are dim and the screen is on. Movies are part of his life.

In order to watch movies, he can choose to leave his hometown, spend most of his work savings on running film festivals and buying movie tickets, and even give up his job for it at one point. Jin Long Zhe mentioned that when he encounters a film festival with a long cycle, if there is a conflict with his working hours, he will choose to quit his job and go to the film festival without hesitation, and then re-employment later.

This kind of behavior will be considered incomprehensible by many people, but in his opinion, if you miss the screening of the film, you may not have the opportunity to see the film again on the big screen for five or ten years. He always felt that "watching movies is above all else."

On one trip to Hong Kong, he only stayed for 17 hours in total. But on the way, he clocked in seven or eight movie locations. He remembered a scene shot at the Canary Restaurant, so he went to the Canary Restaurant for a meal. "To be able to find the filming location of my favorite movie, to be able to stand there in person, it was like walking into a movie. It was a very wonderful, magical and happy thing," Jin Long Zhe recalled. "Maybe this is the state of daydreaming!"

After watching the movie, Jin Long Zhe has the habit of collecting ticket stubs.

Since the beginning, thousands of movie tickets have been saved. The ticket stub is of great significance to him. "It’s a record of watching the movie, and it’s a precious thing. Because it’s basically not reproducible, you can’t copy the ticket stub of the movie on the same day and the same show."

He loved movies for ten years and read countless movies. Jin Long Zhe said bluntly, if he knew himself ten years ago, "I believe he would feel very gratified, let movies occupy the vast majority of his life, and feel very fulfilled and rich…"

Produced by Sanyan Finance

Author | DorAemon

On November 30, Meituan announced its third quarter 2020 financial results.

According to the financial report, during the reporting period, Meituan achieved revenue of 35.40 billion yuan, an increase of 28.8% year-on-year and an increase of 43.2% month-on-month. Achieved profit of 6.32 billion yuan, an increase of 374.1% year-on-year. Excluding the impact of fair value changes, profit and loss, the company’s adjusted net profit in the third quarter was 2.05 billion yuan, an increase of 5.8% year-on-year.

From a business perspective, Meituan’s catering takeaway business earned 20.69 billion yuan in the third quarter, an increase of 32.8% year-on-year; contributed 770 million yuan in operating profit, an increase of 132.2% year-on-year, and an operating profit margin of about 3.7%;

The revenue growth rate of the store, hotel and tourism business was 4.8%, generating an operating profit of 2.79 billion yuan, an increase of 19.5% year-on-year, and an operating profit margin of 43.0%.

New business and other businesses lost 2.03 billion yuan, an increase of 68.8% year-on-year.

Meituan handed over the third quarter report card, which can be described in four words: steady and steady. This financial report truthfully reflects the operating performance of Meituan company so far, and the overall performance is good.

However, I didn’t expect this financial report to be interpreted differently by various media for no reason. Meituan’s third-quarter results were described as a bit "flashy".

Clear the clouds and see the sun

The problem actually lies in the "change in fair value of investment listed entities RMB 5.80 billion yuan" disclosed in the financial report.

The proceeds were primarily derived from Meituan’s investment in Li Auto.

Previously, Meituan led Li Auto’s $550 million D round of investment, and Li Auto went public in the United States on July 30 this year. In the third quarter, Li Auto rose by more than 30%; and the ideal share price in the fourth quarter has also been performing well.

So some people bluntly said that Meituan’s performance depends entirely on "ideals".

With the media further hype brewing, the news about Meituan’s third-quarter earnings report in the past few days has actually formed a situation of "every Meituan must mention ideals".

Not only that, but various media also focused on the loss of new business in the financial report. Combining the increase in new business losses year-on-year and the profit of investment ideals, it was concluded that "Meituan actually did not perform well, and investment ideals were the’fig leaf ‘for its new business losses".

So much so that there are good people who write this matter into a joke, which is ridiculed by netizens.

But in all fairness, is Meituan really so "unbearable"? Now there is a threshold for the interpretation and analysis of financial reports?

So, what exactly does Meituan’s third-quarter earnings report show?

"Investing" is a normal operation

First of all, Meituan’s investment in Li Auto was successful and profited from it. This is indeed an objective fact.

In fact, contrary to what many media understand, this represents that Meituan has excellent investment vision and strategic thinking in the layout of cutting-edge technologies. Success is natural.

Investment is a normal behavior in business operations, and usually there are two main purposes for this kind of investment. The first is to lay out the layout of your own business ecosystem; the second is to broaden the company’s revenue channels, so as to obtain enough resources to expand your own business.

When a company reaches a certain scale, its business development must pay attention to layout and ecology. But to build a good ecosystem, it is often not covered by its main business.

So Meituan’s investment ideal has reaped profits. Although it seems to be a "cross-border", it is essentially based on Meituan’s long-term value judgment of an industry and supplements its own strategy and business.

New business strategic loss

Another question about Meituan is the loss of new business.

Meituan’s third quarter 2020 financial report shows that the new business and other items achieved revenue of 8.23 billion yuan, but the operating loss was 2.03 billion yuan, an increase of 68.8% year-on-year.

If it is foolish to regard the investment ideal as a "fig leaf", then combining the loss performance of Meituan’s new business with the investment ideal, saying that Meituan has many operational problems is bad.

Although "net profit" and "net loss" are indeed important indicators to measure a company’s performance in a company’s operations, they are not the "only indicator".

In short, a company’s loss doesn’t necessarily mean "the company is going to die".

Meituan’s new business and others mainly include shared bicycles and Meituan’s preferred business launched in July this year, which marks Meituan’s official entry into community group buying.

Wang Xing revealed that Meituan plans to cover more than 1,000 municipalities by the end of the year. And Meituan needs to better integrate resources, provide better products and improve supply chain and logistics.

In addition, Meituan is also responsible for developing various services and products in the entire platform system in order to optimize the user experience.

Sanyan Finance also reported in previous articles that "community group buying" has become a must for major Internet Tech Giants.

So to start a business in a new field, it is necessary to invest huge resources in the early stage. However, the investment is huge, and the return is not immediate.

So it is common for new business to lose money, otherwise how can it be called "new" business?

Furthermore, Meituan’s new business revenue growth just shows the hard power that Meituan has been accumulating "steadily". Because if there is no strong foundation laid by the previous development, how can you invest resources in the new business to seize the market and compete with other Internet Tech Giants?

Therefore, the ideal investment and new business losses not only fail to prove that Meituan "has no martial arts ethics" and relies on Li Auto to cover up the losses, but also prove that Meituan is an Internet company with unique vision and hard power.

Explore old businesses and develop new ones

Putting aside the misreading of Meituan’s financial report, Meituan’s overall performance in the third quarter was still quite good.

In addition to the financial data of Meituan’s various businesses mentioned earlier, let’s take a look at the performance of various business operations.

According to the financial report, Meituan’s annual active merchants reached 6.50 million, and the annual transaction users reached 480 million, showing a steady growth trend; this year, more than 4 million riders have achieved employment and income through the Meituan platform.

In addition, the average daily number of food and beverage takeaway transactions was 34.9 million, an increase of 30.1% year-on-year, and the average value of each food and beverage takeaway business order increased by 4.5% year-on-year.

Combined with the financial data, the transaction volume of food and beverage takeaway business was 152.20 billion yuan, an increase of 36.0% year-on-year; the revenue was 20.70 billion yuan, an increase of 32.8% year-on-year; the operating profit reached 768.5 million yuan.

Store, hotel and tourism revenue 65 billion yuan, an increase of 4.8%; operating profit 2.80 billion yuan, operating profit margin increased by 43.0%.

If we compare Meituan’s new business and old business data, we can see that Meituan has not given up its old business due to the development of new business.

In general, the total amount of resources is limited, and companies tend to allocate resources in a certain proportion. New business will receive more resources, while old business will have less resources to at least maintain the status quo.

That is to say, the underlying logic of this quota is to "explore new business and develop old business". There is nothing wrong with adopting this model for development. After all, new business often represents "unknown", and enterprises need to focus more on "exploration".

But for Meituan, Meituan’s business development is "exploring old business and developing new business".

The so-called exploring old business is actually constantly cultivating existing business with new ideas. After the epidemic, Meituan adopted a more accurate and high-quality marketing plan to upgrade in response to the arrival of the peak order season. This has increased the willingness of catering takeaway merchants to purchase traffic. Therefore, in the financial report, the platform’s third quarter takeaway online marketing service revenue increased by 60.1% year-on-year.

The essence of Meituan’s old business is actually to solve the problem of "food" for users. Like the emergence of takeaway services, it is convenient for users to eat what they want without leaving home.

Meituan did not stop on this basis, but instead asked users to upgrade to "eat better".

The core of this "helping everyone eat better and live better" is also based on the concept of consumption upgrading. Consumers’ dietary needs have become more abundant, and they must have more choices.

In the financial report, the order amount of food and beverage takeaway business increased by 4.5% in the third quarter, which shows that the platform brand merchants have improved; at the same time, the number of newly launched brand merchants in takeaway in the quarter increased by 157%, and consumers have more choices. In the third quarter, the booking business of Meituan Hotel also increased accordingly, and the high-star hotel cooperating with Meituan also increased significantly month-on-month.

At the same time, all kinds of "new tricks" have also been popularized and developed through the Meituan platform, such as escape room. Most merchants choose Meituan, Dianping and other platforms as their main way to acquire customers.

Meituan’s "development" of new business is actually an extension of old business, so it is called "development" of new business.

If "eating" is the core word of Meituan Company, then it can be said that all of Meituan’s business revolves around "eating".

Eat at home, Meituan takeaway; go out to eat, Meituan takes a taxi, Meituan bikes; want to play after eating, Meituan goes to the store…

Meituan’s new business is the same, which is based on the expansion of existing business. Meituan market and Meituan Preferred can be simply understood as the "shopping" service before users "eat".

Internet companies that adhere to "long-termism"

After understanding the underlying logic of Meituan’s business development, it is clear that Meituan is a company that adheres to "long-term doctrine".

Meituan has a clear development plan for what she wants to do and adheres to the long-term approach, which is the core concept of developing new businesses and exploring old ones.

And this development model also allows Meituan, as a platform-level company, to effectively promote the development of the industry. Especially when the entire industry encounters a crisis, such as the 2020 epidemic, Meituan can effectively help the market recover during and after the crisis, and solve the employment problem of a large number of riders.

In taking the "long-term" route, while fulfilling the various responsibilities and obligations of the company, the company needs to continuously invest resources. After all, firm goals are on the one hand, and to achieve goals, we must strive to explore value.

　

This article was first published on the WeChat official account Sanyan Finance. The content of the article is the author’s personal opinion and does not represent the position of Hexun.com. Investors operate accordingly, and please bear the risk.