Wen | Buer Research Institute Yi Xin Zi Qing

Following the price reduction of Tesla at the beginning of the year, in August this year, new energy vehicles once again set off a new wave of price reduction. Brand officials, such as Zero Run and Weilai, announced the price reduction, and the ideal was to "reduce the price in disguise" by releasing new cars.

On August 8th, LI (02015.HK) announced the second quarterly report of 2023. Although the net profit of the second quarter increased, its share price showed the opposite trend.

On the day of the financial report, its US stock price closed down by 8.62%; The next day (August 9), Hong Kong stocks closed down 5.52%.

As of August 14th, LI closed at HK$ 160.90 per share, corresponding to a market value of HK$ 335.4 billion (about RMB 311.1 billion).

According to the latest data released by Ideal, its delivery volume in the second quarter reached 86,533 vehicles, up 201.6% year-on-year and 65% quarter-on-quarter. In July, the delivery volume was 34,134 vehicles, up 227.5% year-on-year and only 4.7% quarter-on-quarter.

According to the announcement of LI, it is estimated that the delivery volume in the third quarter is only 100,000-103,000, equivalent to 33,000-34,500 vehicles per month. Based on this data, it is speculated that the growth of ideal monthly delivery volume may stagnate.

According to its second quarterly report, "Buer Research" found that in the second quarter of this year, LI’s revenue was 28.65 billion yuan, a year-on-year increase of 228.1%; The net profit was 2.31 billion yuan, turning losses into profits year-on-year, up 147.4% from the previous month.

In the second quarterly report, the ideal revenue doubled, but the strategy of re-marketing may continue. The R&D expenditure in the ideal second quarter was 2.43 billion yuan, up 58.4% year-on-year and 31% quarter-on-quarter. Sales, general and management expenses were 2.32 billion yuan, up 74.3% year-on-year and 40.4% quarter-on-quarter.

Source: official website, LI

At present, LI’s production capacity is limited to 8,000 vehicles per week, and the production capacity of parts suppliers has fallen into a bottleneck, which is also a challenge it faces in the second half of the year.

According to the financial report meeting in the second quarter, due to the development of economic situation and the upgrading of enterprise organization matrix at the beginning of the year, it is ideal to lower the planned annual sales target of 360,000 vehicles to 300,000 vehicles.

Today, the new energy vehicle has entered the second half, and the industry volume has been intensified; Although LI turned losses into profits year-on-year, how long can the story of its profitability be sustained and increased?

In March of this year, the new forces of building cars suffered a double crit.

The first crit comes from the continuous price reduction war of peer TSLA, and the second crit is the government-enterprise subsidy jointly initiated by Hubei Dongfeng. The fuel vehicle market is "chaotic", which makes new energy vehicles suffer crit.

As one of the Three Musketeers, a new force in car-making, LI has previously published the 2022 annual report and the first quarterly report in 2023. Although the revenue in 2022 has achieved substantial growth, it is still at a loss.

According to its financial report, "Buer Research" found that in 2022, LI’s revenue was 45.29 billion yuan, a year-on-year increase of 67.7%; In the same period, its net loss was 2.03 billion yuan, up 531.42% year-on-year, making it the most serious year since the listing of US stocks in 2020.

Among them, the ideal automobile sales revenue in 2022 is 44.106 billion yuan, accounting for 97.39% of the total revenue. According to "Buer Research", due to the increase in R&D investment and rising operating costs in 2022, the automobile sales revenue failed to catch up, which led to the further expansion of LI’s net loss.

Under the new energy automobile track, it still takes time to accumulate and reserve funds to transform R&D investment into automobile production capacity.

Although the capital reserve has been expanded after the dual listing, more and more car-making competitors and intensified competition in sub-sectors seem to be shortening the ideal "new" time window.

01 landing in Normandy

In 2015, after leaving office in car home, Li wanted to start a business again, aiming at the field of new energy vehicles. At that time, Tesla was in the limelight, and many Tesla "fans" emerged in China.

Source: LI founder-Li Xiang-LI Guan Wei

Since then, Li Xiang’s brand ideal of new energy vehicles has stood out, and he, together with Weilai Automobile and Xpeng Motors, has been called "Three Musketeers".

In 2019, when the ideal first car, Li ONE, was officially launched, Li Xiang said frankly, "I have been in business for 20 years, and today is my most nervous day, and it is also the Normandy landing day of the company".

In July 2020, above the new energy outlet, it was ideal to land on Nasdaq in the United States, and the IPO was priced at $11.5 per share, with the highest increase of more than 50% on the first day of opening.

On August 12, 2021, LI landed on the Hong Kong Stock Exchange, becoming the second new car-making force to achieve dual listing in Hong Kong stocks after Xpeng Motors.

Although the new energy outlet is still there, the competition of the Three Musketeers, a new force to build cars, is intensifying. Compared with the increasingly full product matrix of Weilai and Tucki, the outside world is quite worried about the ideal car-making pace: the 2020 Li ONE that landed in Normandy has been sold for nearly three years, and the ideal finally got the new 2021 Li ONE.

Source: official website, LI

According to the ideal quarterly report in 2023, its total revenue in the first quarter was 18.79 billion yuan, up 96.5% year-on-year and 6.4% quarter-on-quarter. In the same period, the net profit was 934 million yuan, turning losses into profits. In addition, the ideal annual gross profit margin in the first quarter of 2023 is still declining.

According to "Buer Research", the ideal main revenue source is vehicle sales, and its vehicle sales revenue in the first quarter of 2023 was 18.33 billion yuan, accounting for 97.55% of the total revenue.

The increase in sales revenue in LI is mainly due to the increase in delivery volume in the first quarter and the increase in the average selling price of ideal L series models. In addition, the revenue and delivery have been greatly improved, which has also enabled LI to turn losses into profits.

Entrepreneurship means choosing the path of extended-range technology and relying on an extended-range electric vehicle to conquer the world. The ideal can be described as a different kind among the three musketeers, a new force in building cars. However, the increasingly strict policy supervision is like the sword of Damocles hanging overhead, and it is ideal to make up for the autopilot technology.

Li Xiang once said frankly, "In terms of autonomous driving, compared with Tesla and Tucki, we have to make up lessons." According to the plan, this year’s ideal research and development is continuously invested; In the first quarter, its R&D expenditure was 1.85 billion yuan, up 34.8% year-on-year; In the second quarter, its R&D expenditure was 2.43 billion yuan, a year-on-year increase of 58.4%.

When the market structure of the new force of car-making is initially determined, the competition of new energy vehicles has entered the second half: the sales and mass production targets of 280,000-300,000 vehicles, and the fierce competition of autonomous driving technology.

As a supporter of the "10,000-hour Law", Li Xiang once wrote in Weibo, "I have trained more than 60,000 hours in the automobile industry since 2004, and I am more confident in my major".

It seems that the capital market that votes with its feet is not satisfied with Li Xiang’s "10,000-hour law".

By comparing the PE value (P/E ratio) and the PB value (P/B ratio) of the Three Musketeers, a new car-making force, it was found that by the close of the US stock market on August 12th, EDT, except LI, the PE values of the new car-making force were all negative, with the PB values of Tucki 2.81, Ideal 6.23 and Weilai 7.63 in turn, while the PB value of Tesla was 15.06.

Among the three musketeers, the ideal PB value ranks second, which is about 1/10 of Tesla PB value. The higher the PB value, the higher the valuation of enterprises in the capital market.

As of August 12th, EST, the US stock market closed, with an ideal market value of $42.18 billion, while Tesla’s market value has passed the $700 billion mark.

02 on the new speed.

On May 25th, 2021, Ideality released the 2021 Li ONE in Beijing, which was different from the enthusiastic conference site. The capital market reacted coldly and fell immediately after the opening of the day. Only one day later, it is ideal to announce the financial report for the first quarter of 2021, from profit to loss.

"Li Xiang, you owe an explanation to the owner who picked up the car in April and May." After the release of the 2021 Li ONE, Li Xiang’s Weibo was overwhelmed by the owner’s doubts.

According to the ideal plan, after the production and sales of the 2021 Li ONE model begin, the production of the 2020 model will stop. The car owner who just bought the old model of Li ONE soon felt that he had been "cleared of inventory" by routine. Although it is ideal to provide four paid upgrade schemes for old car owners, it still cannot satisfy the skeptics.

In August of the same year, a similar scene was once again staged in the ideal riders group: the prospectus revealed that the ideal will launch a new full-size SUV in 2022, and compared with the existing products, the size, hardware and intelligent configuration have been improved in many aspects.

Source: LI Guanwei

To some extent, the rapid iteration of new energy vehicles is accelerating the depreciation of the value of the previous generation models. Anxiety, confrontation and other emotions spread between riders waiting for a full-size new car and owners who have already picked up the car.

According to "Buer Research", the innovative technology of new energy vehicles is both a spear and a shield. Compared with traditional cars, the product cycle of new energy vehicles is shorter; How to balance customer perception and product iteration has also become an ideal test.

However, the other side of the coin is the risk brought by the thin product line, and any fluctuation in Li ONE may trigger a chain reaction.

In order to change this situation, it is ideal to replace Li ONE with L8 and L9 from the second half of 2022.

In the fourth quarter of 2022, the ideal delivery volume was 46,319 vehicles, a year-on-year increase of 31.5%; In the same period, Weilai and Tucki delivered 40,052 vehicles and 22,204 vehicles respectively, both of which increased year-on-year.

By the end of 2022, it is ideal to deliver 133,246 vehicles throughout the year, up 47.2% year-on-year; Although it did not reach the expected goal of LI, it was slightly ahead of Weilai Automobile’s 122,486 vehicles and Xpeng Motors’s 120,757 vehicles in terms of the number of deliveries in 2022.

By the end of January this year, LI’s monthly sales even exceeded the combined monthly sales of Weilai Automobile and Xpeng Motors.

In the first quarter of this year, the ideal delivery volume was 52,584 vehicles, a year-on-year increase of 65.8%; The deliveries of Weilai and Tucki in the same period were 31,041 and 18,230 respectively.

The outbreak of black swan is only a small probability event. If compared with the same industry, to some extent, the large data fluctuation of ideal sales revenue is related to its single product structure.

In the view of "Buer Research", in the early stage of starting a business, the 2020 Li ONE solo combat can unite all the superior resources; However, due to the lack of product matrix, ideal is losing its position in the price range, and it is easy to fall into the situation of weak subsequent growth.

Expanding the product matrix is imminent. On August 3 this year, it officially launched the ideal L9 Pro. According to the ideal plan, it is expected to launch the first pure electric vehicle MEGA； by the end of 2023. And in 2024, four new cars will be released, including an extended-range SUV and three pure electric models.

Source: official website, LI

It is not easy to "upgrade" new energy vehicles, and R&D investment is similar to "arms race"; Only from the number of patents and invention patents in 2020, the ideal is relatively backward.

Intelligent driving is the focus of LI’s current layout. This year, the ideal plan is to land the "NOA" function in 100 cities.

At present, LI has successfully opened the urban NOA internal test in Shanghai and Beijing, and completed the first test drive of urban NOA and commuter NOA in Beijing. It is expected that in the third quarter, Ideal will also open the commuting NOA function to "early bird users".

In the view of "Buer Research", when the potential of new energy vehicle track is highlighted, attracting many car-making forces to enter the market, the competition in market segments will become more intense.

Regardless of the technical path, ideally, the time window of the new product matrix is limited, and it is urgent to find a balance between iterative novelty and customer perception.

03 Flag of Li Xiang

In February 2021, Li Xiang said in an internal letter that by 2025, it is ideal to win 20% of the market share and become the first intelligent electric vehicle enterprise in China; In 2030, it will go further and become the first intelligent electric vehicle enterprise in the world.

In the second quarter of this year, Li Xiang set a new Flag: the ideal total sales this year will exceed the target at the beginning of the year by 10%-20%. The ideal target at the beginning of the year is annual sales of 306,000 vehicles, and the adjusted sales volume is expected to be 336,000-366,000 vehicles.

According to the latest data released by Ideal, its delivery volume in the second quarter reached 86,533 vehicles, up 201.6% year-on-year and 65% quarter-on-quarter. And delivered 34,134 vehicles in July.

In terms of production capacity closely related to the delivery volume, the "Buer Research" found that the annual production capacity of the ideal Changzhou factory in 2020 will be about 100,000 vehicles, and the annual production capacity of the factory will increase to 200,000 vehicles after upgrading.

After the release of Q3 financial report in 2022, Shen Yanan, the ideal co-founder and president, announced his resignation. He helped LI choose to build his own factory in Changzhou. This adjustment is regarded as a large-scale change since the establishment of Ideal.

At the ideal second-quarter financial report meeting on August 8, Li Xiang said that at present, due to the influence of supplier supply, the production capacity is in a bottleneck.

Earlier, there were media reports that Ideality was contacting Beijing Hyundai and hoped to receive its first factory that had stopped production. At present, the Beijing base is expected to be officially put into production at the end of this year. In addition, it is reported that the production plan of the ideal third factory, Chongqing production base, has stopped.

According to "Buer Research", if we want to achieve production and sales of 1.6 million vehicles in 2025, we need a strong production capacity reserve. The only Changzhou factory and Beijing factory may not have enough production capacity to carry their delivery demand, so the construction of new factories is imminent.

Previously, compared with the other two new car-making forces, the ideal offline layout was not dominant and is currently accelerating.

By June 30, 2023, LI had operated 331 retail stores covering 127 cities. In addition, LI operates 323 after-sales maintenance centers and authorized car body and painting centers in 223 cities.

When Internet companies such as Baidu and Xiaomi went off to build cars one after another, the war of new energy vehicles intensified. Regarding the cross-border showstopper, Li wants to speak frankly about the car, saying that the car sales can’t be faked, and the final development depends on the final product.

Although LI is speeding up its running, will Li Xiang’s Flag fall down under many skinny realities?

"Ideal" meets the cold reality

Although the ideal delivery volume since 2023 has been leading the new domestic car-making forces, LI still considers 2023 as "Alexander". In particular, the head car companies headed by Tesla started a price war, which caught the industry off guard.

However, as a "hardware for traffic portal, software for charging service", Tesla model seems to bring new imagination space for new energy vehicles.

When the income of Tucki XPILOT software and Weilai NIOPILOT software increased, Li Xiang declared: "The new Li ONE autopilot is standard, and the future ideal will not charge for autopilot".

"With the development of smart cars, there will be more and more usage scenarios for users and more and more business models." Li wants to put his hopes on another possibility of business model innovation, but it needs to be built on the basis of ownership.

Che Gewana once said, let’s be loyal to our ideals and face reality. On the increasingly crowded track, Li wants to be loyal to his ideals, but he also needs to face reality: the day after tomorrow of new energy vehicles is beautiful, and today is very difficult. The key is whether he can survive tomorrow.

Some references in this article:

1. LI, Sorry for the Old Car Owner, Sina Technology.

2. Li Xiang with Ideal, Taber.com.

3. "The listing price of LI and Hong Kong is HK$ 118, which is 21.3% lower than the suggested subscription price", Caixin.com.

5. "LI’s second-quarter earnings revenue increased significantly, and the decline in US stocks reflected investors’ concerns", interface news.

6. Ideal sells crazy, but it can’t relax its vigilance. Connect sight.

　　　"AITO asked the M5 Smart Driving Edition to give me a big surprise. The experience it brought me in terms of intelligence is indeed industry-leading." After the test ride, Zhu Jun Orange, the owner of M7, said so.

　　A few days ago, the first AITO Wenjie M5 series car equipped with Huawei ADS2.0 advanced intelligent driving system and HarmonyOS Intelligent Cockpit 3.0 opened a test ride experience in Yuzhong District, Chongqing, which was also the first appearance of the car in Chongqing. Many consumers went to experience the new driving experience brought by Huawei’s advanced intelligent driving system, and the scene was very popular.

　　A motorcade waiting for consumers to try out. Photo courtesy of the organizer Hualong. com-New Chongqing Client

　　Chongqing is often called "8D Magic City" by netizens because of its complicated roads. He You, the owner of M5EV, mentioned that drivers who can drive in Chongqing can drive all over the country, and the intelligent driving system that can withstand the road test in Chongqing must be relatively mature. Huawei’s advanced intelligent driving system equipped with AITO’s M5 Intelligent Driving Edition has performed well in the trial ride in Chongqing.

　　It is understood that the trial route starts from chongqing heaven and earth, starts along Jiabin Road, passes Huacun Interchange, Jiahua Bridge and Lijiaping Interchange, and finally returns to chongqing heaven and earth. This line is located in the center of Chongqing, and there are endless traffic all day, including tunnels and many viaducts with complicated routes.

　　AITO asking the world M5 intelligent driving edition. Photo courtesy of the organizer Hualong. com-New Chongqing Client

　　During the test ride, Huawei’s advanced intelligent driving system always finds the right driving lane automatically according to navigation and road conditions under safe conditions, and actively seeks opportunities to enter. This broke the past cognition of many consumers on the scene about intelligent driving system, and broke their concerns about intelligent driving extending commuting time. "The intelligent driving system I used to know will always take the initiative to avoid it for safety," He You said. "But it is very flexible and will actively look for opportunities to change lanes and overtake."

　　Zhao Xinglin, the owner of Wujie M5, started the live broadcast when he tried to ride the AITO Wujie M5 version, and shared his driving experience with the riders who could not come to the scene. As an "old driver" who has been driving for nearly 20 years, she highly recognizes the intelligence of this model. In her view, the design of this intelligent driving system is very close to daily life and can respond to various problems encountered by car owners in the driving process in a timely manner. She said: "For example, when we are driving, we often encounter some drivers forcibly cutting in line, and AITO asks the M5 Smart Driving Edition to firmly hold its own lane at this time, while avoiding the safety hazards caused by this situation."

　　Event site. Photo courtesy of the organizer Hualong. com-New Chongqing Client

　　According to the staff, Huawei’s advanced intelligent driving system adopts Huawei’s first intelligent driving interactive game algorithm, which solves the problem that intelligent driving encounters difficult road conditions in complex scenes, and can solve more than 70% of the interactive scene takeover problems, shortening the transit time by 40%, making the driving performance of AITO’s M5 intelligent driving version more like an experienced "old driver".

　　In addition to the flexible "silky" experience, intelligent driving also brings more safety protection to car owners. Zhu Jun Orange, who is engaged in the IT industry, already knows a lot about intelligent driving system, but he was deeply impressed by the safety performance of Huawei’s intelligent driving system. After the test ride, he also had a higher degree of trust in the safety performance of the car’s intelligent driving system. He said: "Its lane change avoidance, acceleration and deceleration are all logical, and it can also simulate the driving habits of real people."

　　According to reports, the fusion sensing system of AITO Zhijie M5 Intelligent Driving Edition is equipped with an overhead lidar, three millimeter-wave radars, 11 high-definition camera groups for lateral and forward visual perception and 12 ultrasonic radars, which can realize the perception of moving and static targets. Its farthest detection distance is about 200 meters, and the horizontal detection angle reaches 120 degrees. In the face of pedestrians or animals suddenly rushing out of the blind area of view, or vehicles parked on the roadside suddenly open the door, it can also realize emergency braking or lane change avoidance, and protect the safety of people and vehicles to the greatest extent. "It protects every owner like a knight," Zhao Xinglin described the safety and reliability of this model.

　　Huawei ADS2.0 advanced intelligent driving system is a blessing for the safety of AITO’s M5 intelligent driving version, which is superimposed with the construction of HarmonyOS’s hot ecology. In addition, HUAWEI DriveONE three-in-one electric drive system helps improve the performance of this model, making it safer, smarter and better. Huawei is bringing new variables to the intelligent driving industry.

Nearly 950 days after Lei Jun announced that he would "put all his reputation on the line", Xiaomi Automobile finally arrived.

On November 15th, the Ministry of Industry and Information Technology publicized the declaration list of the 377th batch of new products in the Announcement of Road Motor Vehicle Manufacturers and Products, among which two pure electric cars with Xiaomi brand appeared.

According to the public information, the models of the two Xiaomi brand cars are SU7 and SU7 Max/Pro respectively. In terms of size, the length, width and height are 4997mm, 1963mm and 1455mm, respectively, and the wheelbase is 3000mm, so they are positioned as C-class cars.

In terms of power battery, SU7 is equipped with BYD’s lithium iron phosphate battery, while SU7 Max/Pro is equipped with Contemporary Amperex Technology Co., Limited’s ternary lithium battery; As for the motor, the motor on SU7 comes from United Automotive Electronics Co., Ltd., and the peak power of the driving motor is 220kW, while the motor on SU7 Max/Pro comes from Suzhou Huichuan United Power System Co., Ltd., and there are two power options: 220kW and 275kW.

According to the information disclosed by the Ministry of Industry and Information Technology, the production address of Xiaomi Automobile is "No.21 Courtyard, Huanjing Road, Beijing Economic and Technological Development Zone". It is also reported that Xiaomi’s automobile factory in Yizhuang, Beijing is under construction. The construction of the project is divided into two stages. The first stage began in April 2022 and has begun to take shape. According to Xiaomi’s previous plan, Xiaomi Automobile will be listed in the first half of next year.

The official announcement of Xiaomi Automobile is more exciting than rice noodles in the secondary market. As early as two months ago, the concept of Xiaomi Automobile OEM was heated up by the market. In early November, the news that BAIC Group executives were photographed by the media to attend the closed meeting in Xiaomi Science Park added new evidence to the "rumor that BAIC OEM Xiaomi Automobile", but from the current point of view, Xiaomi Automobile did not choose the direction of OEM.

Although the trademark of Xiaomi’s new car is "Xiaomi Brand", the name of the declared enterprise is Beijing Automotive Group Off-road Vehicle Co., Ltd.. In this regard, industry insiders said that Xiaomi may not solve the problem of production qualification for the time being, and needs the production qualification provided by BAIC. To obtain production qualification, it generally depends on acquiring other automobile brands or taking the OEM route, or obtaining qualification through self-built factories. Xiaomi chooses the latter, which takes a certain amount of time and process, but the products should seize the window period to grab the market, so Xiaomi may continue to apply for independent qualification while using BAIC’s qualification for production.

After Xiaomi’s official announcement on November 15th, Beiqi Blue Valley, the concept of Xiaomi’s OEM, also opened higher and went lower on the 16th, closing up slightly by 0.27%. However, the Xiaomi automobile industry chain has ushered in a collective carnival. According to media reports, insiders revealed that Lei Jun set a sales target of 100,000 vehicles for Xiaomi automobile in 2024 and delivered a total of 900,000 vehicles in the next three years. Such a considerable sales scale naturally brings direct benefits to enterprises in the Xiaomi automobile industry chain, and the capital market has turned to pay more attention to Xiaomi automobile industry chain enterprises.

On the 16th, Jiayun Technology, which cooperated with Xiaomi in marketing, and the co-creation data of smart camera products which cooperated with Xiaomi Eco-chain Enterprise (Chuangmi Technology) all had a daily limit of 20cm, and Yinbaoshan, which provided structural products for Xiaomi, had a new daily limit, while companies that directly provided parts for Xiaomi’s car-making were mixed. According to public information, Titanium Media App has sorted out the list of some enterprises related to Xiaomi automobile industry chain:

Kaizhong stock (603037.SH)

11

Month 1

six

Daily rise and fall: 1

0.00%

Latest market value: 3

5.82

a hundred million

The company is mainly engaged in the design, R&D, production and sales of shock-absorbing components of automobile chassis suspension system and lightweight pedal assembly of control system, as well as the R&D, production and sales of special polyurethane elastomers such as high-performance polyurethane load-bearing wheels in the field of non-automobile parts.

The company’s vibration damping products have synchronous development business with Xiaomi Automobile, and the online control dynamic product field invested by the company has synchronous development business with Xiaomi Automobile.

Aotejia (002239.SZ)

11

Month 1

six

Daily rise and fall:

10.07%

Latest market value: 9

9.24

a hundred million

The company is mainly engaged in the research, development, production and sales of various automobile air-conditioning compressors and automobile air-conditioning systems.

In September 2023, Aotejia said on the interactive platform that Xiaomi Automobile is a company customer, and according to the current fixed-point situation, it is expected to provide automotive thermal management products to this customer.

Pengling shares (300375.SZ)

11

Month 1

six

Daily rise and fall:

7.22%

Latest market value:

49.33

a hundred million

The company is an automobile parts supporting enterprise integrating design, research and development, production and sales. The main products are automobile fluid pipes and sealing parts.

The company said that it will provide fluid pipeline products for Xiaomi Automobile.

Yachuang Electronic (301099.SZ)

11

Month 1

six

Daily rise and fall:

6.60%

Latest market value:

45.88

a hundred million

Authorized distributor of electronic components, the specific products include photoelectric devices, memory chips, passive components and discrete semiconductors, etc. The products are mainly used in the field of automotive electronics.

The company said that it has indirectly carried out business cooperation with Xiaomi Automobile, and it is now in a small batch stage.

Liyuan Information (300184.SZ)

11

Month 1

six

Daily rise and fall:

-5.69%

Latest market value:

80.32

a hundred million

Mainly engaged in the promotion, sales and application services of IC and other electronic components.

The products of ROHM (Roma), JAE (Avionics) LUMILEDS (Lumens), KDS (Vacuum), ST (Italian), ON (On) are directly and indirectly supplied to Xiaomi and its foundries, which are mainly used in various terminal products of Xiaomi. For Xiaomi Automobile, at present, the company only carries out pre-sample delivery and small supply, and the company will continue to pay attention to the cooperation with Xiaomi Automobile.

Faw fuwei (600742.SH)

11

Month 1

six

Daily rise and fall:

1.08%

Latest market value:

76.31

a hundred million

Products include the design, research and development, manufacture and sales of automobile parts such as automobile seats, instrument panels, door panels, seat frames, bumpers, grilles, rearview mirrors, auto filter, automobile lighting devices, automobile stamping products, wheel assemblies, automobile electronics, etc.

The company said that a number of molecular companies have entered the purchasing group of Xiaomi Automobile, but they have not obtained the mass production business of Xiaomi Automobile.

Weifu Hi-Tech (000581.SZ)

11

Month 1

six

Daily rise and fall:

0.25%

Latest market value:

163.12

a hundred million

The main business products are diesel fuel injection system products, automobile exhaust aftertreatment system products and intake system products.

The company indirectly shares the enterprise United Automotive Electronics Co., Ltd. as the supplier of Xiaomi automobile engine.

Wanxiang Qian Chao (000559.SZ)

11

Month 1

six

Daily rise and fall:

0.18%

Latest market value:

181.71

a hundred million

Specializing in the production of chassis and suspension system, automobile braking system, automobile transmission system, automobile fuel exhaust system, hub unit, bearings, precision parts, construction machinery parts and other automobile system parts and assemblies.

The company said that the fast drive shaft products have been supplied to Xiaomi Automobile.

Huayu automobile (600741.SH)

11

Month 1

six

Daily rise and fall:

-0.40%

Latest market value:

548.89

a hundred million

The main business covers automobile interior and exterior accessories, metal forming and molds, functional parts, electronic and electrical parts, hot working parts, new energy sources, etc.

The company’s products have been partially supplied by Xiaomi automobile related models.

Yin Lun stock (002126.SZ)

11

Month 1

six

Daily rise and fall:

-0.66%

Latest market value:

143.99

a hundred million

Specializing in research and development, manufacturing and sales of various heat exchangers and tail gas aftertreatment products.

In October 2023, when asked whether it had business dealings with Xiaomi Automobile, the company indicated that it had obtained several orders for thermal management products from customers.

Jin Rong Tian Yu (300988.SZ)

11

Month 1

six

Daily rise and fall:

0.13%

Latest market value:

32.76

a hundred million

Focus on technology research and development, manufacturing and product sales of precision metal parts and new energy storage products in the whole industry chain.

In September 2023, the company said on the interactive platform that it had obtained the supporting business of new energy vehicle products such as Xiaomi in the field of new energy vehicles.

The supplier of lithium iron phosphate battery for Xiaomi Automobile is Foday Battery, a wholly-owned holding company of BYD.

Huichuan Technology (300124.SZ)

11

Month 1

six

Daily ups and downs:-

1.10%

Latest market value:

1627

a hundred million

Specializing in industrial automation and new energy related products research and development, production and sales.

Xiaomi automobile engine suppliers include Suzhou Huichuan United Power System Co., Ltd., a holding subsidiary of the company.

Shangluo Electronic (300975.SZ)

11

Month 1

six

Daily rise and fall:

6.50%

Latest market value:

57.87

a hundred million

Mainly for electronic product manufacturers in network communication, consumer electronics, automotive electronics, industrial control and other application fields, providing them with electronic components.

At present, the company indirectly supplies electronic components such as resistance-capacitance sensor, diode and power chip to Xiaomi automobile through Tier1 supplier.

Aerospace Zhizao (300446.SZ)

11

Month 1

six

Daily ups and downs:-

4.52%

Latest market value:

126.53

a hundred million

The main business includes the production and sales of information anti-counterfeiting materials, electronic functional materials and fine chemical materials.

On July 22, 2023, the company said on the interactive platform that its subsidiary Aerospace Molding has successfully entered the supplier system of Xiaomi Automobile and carried out collaborative design of interior and exterior decoration products, and some products have obtained mass production orders.

Haiteko

(

301022.SZ

)

11

Month 1

six

Daily fluctuation: 3.60%

Latest market value: 2.702 billion

Mainly engaged in research and development, design, manufacture and sales of injection molds and plastic parts.

Haitaike said on the interactive platform that the company’s automobile injection mold has been applied to new energy vehicles such as Xiaomi.

Xingyuan zhuomei

(

301398.SZ

)

one

one

Month 1

six

Daily rise and fall

：

-4.04%

Latest market value:

4.842 billion

Xingyuan company has a very mature process system in automobile cylinder, bracket mold, gasoline engine cylinder mold and aluminum radiator mold.

According to the records of the company’s investor relations activities in January 2023, the major domestic new energy vehicle brands under development and expansion include Xiaomi Automobile.

Electrical alloy

（300697.SZ）

11

Month 1

six

Daily fluctuation: 1.96%

Latest market value: 38.17

a hundred million

The main business is the research and development, production and sales of copper and copper alloy products. The main products are divided into electrified railway catenary series products and copper bus series products.

The semi-annual report of 2023 shows that the high-voltage connectors produced by the company are indirectly used in Xiaomi Automobile.

Xiangxin technology

(

002965.SZ

)

11

Month 1

six

Daily fluctuation: -0.95%

Latest market value: 8.351 billion

Specializing in research and development, production and sales of precision stamping dies and metal structural parts.

The company said that it has established a cooperative relationship with Xiaomi Automobile.

Molding technology

(

000700.SZ

)

11

Month 1

six

Daily fluctuation: 3.20%

Latest market value: 8.005 billion

Mainly engaged in the production and sales of car bumpers, rubbing strips and other automotive decorative parts.

BAIC Molding, the company’s shareholding enterprise, is a supplier of Xiaomi automobile.

Demaishi

(

301007.SZ

)

11

Month 1

six

Daily rise and fall:

-1.17%

Latest market value: 2.984 billion

Our main business is research and development, production and sales of precision shafts and precision cutting parts.

The company said that the company’s products are not directly supplied to Xiaomi Automobile, but a directional screw produced by the company was finally used in Xiaomi Automobile.

BYD (002594.SZ)

11

Month 1

six

Daily ups and downs:-

0.14%

Latest market value:

6937

a hundred million

The layout covers the fields of automobiles, batteries, electronics, new energy and rail transit.

The supplier of lithium iron phosphate battery for Xiaomi Automobile is Foday Battery, a wholly-owned holding company of BYD.

Contemporary Amperex Technology Co., Limited (300750.SZ)

11

Month 1

six

Daily ups and downs:-

1.81%

Latest market value:

7967

a hundred million

Focus on the research and development, production and sales of power battery systems and energy storage systems for new energy vehicles.

The company supplies ternary lithium-ion batteries for Xiaomi Automobile.

(Author | Li Jian)

　　BEIJING, Oct. 14 (Xinhua) Recently, the popular anchor Ti mo Feng sent Weibo, saying: "The contract with DouYu has expired, and future cooperation is still under negotiation … … 。” Weibo, who is less than 100 words, caused a hot discussion among netizens, and once pushed Ti mo Feng to a hot search in Weibo.

　　Netizens are guessing, where is Ti mo Feng’s next stop? Where to? This may be a difficult choice for online celebrity anchors represented by Ti mo Feng in their career development.

　　From Ti mo Feng’s announcement of her freedom to her negotiation with Tik Tok Platform, all the signs show that Ti mo Feng wants to make a leap from online celebrity to a star. Her subsequent development will also become a typical sample for the outside world to observe the development of online celebrity anchor.

　　Ti mo Feng won a large number of fans on the live broadcast platform with her beautiful voice. Not long ago, she also held a solo concert in her hometown of Chongqing and attended variety shows such as talk shows. After moving to Tik Tok, Ti mo Feng has reached more than 30 million fans, trying to compete with first-line traffic stars such as Show Lo, Joker Xue and Yang Mi for fans and attention.

　　Although he occasionally ranks in the TOP10 of Tik Tok’s celebrity love dou list, Ti mo Feng may still have a long way to go to achieve the leap from online celebrity to celebrity.

Screenshot from the network Weibo

　　What is the work and commercial value?

　　For example, Show Lo, who ranks in the forefront of Tik Tok, has made numerous films and TV songs for more than 20 years, and his hosting programs are deeply rooted in the hearts of the people. Joker Xue won numerous music awards and was very popular. These stars also have commercial value, such as the release of Jay Chou’s new song, which earned 15 million music revenues overnight, which fully reflects the strong commercial appeal of the stars.

　　On the other hand, Ti mo Feng has gained some fans with several music works since her debut, but it is also confined to the live broadcast circle, far from reaching the popularity of first-line stars. More importantly, she didn’t come up with bright works to establish her star status.

　　In terms of revenue, in September 2019, Ti mo Feng’s data of small gourd ranked 38th on the fighting platform, with 895,000 monthly active fans in the live broadcast room and an average monthly reward of 209,000. Its income index ranks 30th in Betta platform, popularity index ranks 75th in Betta platform, and powder increasing index ranks 57th. The three indices in August ranked 43rd, 52nd and 28th respectively. Thus, Ti mo Feng’s commercial value is far from matching her status as a "fighting fish elder sister".

　　Does online celebrity anchor have strong entertainment system support?

　　A online celebrity wants to become a star, which requires not only his own professional ability, but also a perfect entertainment system. This entertainment system is rooted in the entertainment market, and it continuously supports a star’s popularity and market recognition through a series of means such as artist training, brand packaging, resource promotion, exposure and publicity. However, online celebrity anchor is rooted in the live broadcast soil and lacks the support of this entertainment system. It is very difficult to achieve the leap from anchor to star.

　　Then there is the short life cycle of online celebrity anchor. There is even a saying in the industry that online celebrity’s life cycle is only two years. For the predictable aesthetic fatigue of users, most anchors may not escape this fate. Fans like anchors that provide novel perspectives and unique experiences. When people get used to this method, they will get bored and finally start to pursue the next online celebrity. Therefore, under such circumstances, online celebrity anchor should extend his life cycle in the fields he is familiar with and good at. However, online celebrity anchor’s pursuit of stardom still faces great challenges.

　　What is the geometry of the anchor winner of job-hopping

　　If Ti mo Feng moves to Tik Tok, will it bring her a leap forward? On the contrary, many anchors have switched to other platforms, but few have developed better than before. For example, Brother Snake, the anchor of the fighting fish Jedi survival plate, quickly became popular because of his sharp play, handsome face and fighting fish flow blessing. However, in the end, Brother Snake broke his contract and left Betta, and went to Huya for live broadcast. His popularity declined and gradually became a second-line anchor. In addition, there are anchors such as Hyun Shen, Du Ji, Bai Yinfei, Bao Zi, etc. After they left the original platform, their status and popularity were not as high as before.

　　Industry analysts believe that this is related to the anchor not adapting to the new environment. On the original platform, the anchors are familiar with the ecological environment of the platform, and it is easy for the anchors to achieve the best live broadcast state. Once you switch to other platforms, the unfamiliar environment will affect the performance of the anchors. Secondly, this is related to the platform operation strategy. The anchor switched to other platforms, and these platforms hope that the anchor can bring fans to the new platform. But now the high-quality content of the platform leads to very high stickiness of fans. Only a few will migrate to other platforms with the anchor. Once the platform finds that these anchors can’t bring the expected traffic and revenue, it will reduce resource support and anchor revenue, and some anchors even return to the original platform.

　　Where should Ti mo Feng go? No matter how Ti mo Feng chooses, it shows the career development dilemma of online celebrity anchor. Faced with such a dilemma, Ti mo Feng may be the best choice to stay in Betta. After all, Ti mo Feng has been fighting fish for five years, Ti mo Feng and her fans are familiar with the ecology of fighting fish, and fighting fish has also made Ti mo Feng. The cooperation between the two sides may give Ti mo Feng more room for imagination in the future.

Original title: The 22nd China North International Bicycle Electric Vehicle Opening Ceremony.

On March 28th, the audience visited the bicycles on display in the bicycle exhibition area.

On the same day, the 22nd China North International Bicycle Electric Vehicle Exhibition opened in Tianjin Meijiang Convention and Exhibition Center. The theme of this exhibition is "innovation, openness, low carbon and multi-sources", with a total exhibition area of over 100,000 square meters. More than 800 exhibitors have brought a number of new achievements and new products in the industry around industrial scientific and technological innovation, cycling culture promotion, international cooperation and exchange, and activities to benefit the people and facilitate the people. The exhibition scope includes bicycles, electric vehicles and parts, baby carriages, leisure products for the elderly, new energy and green vehicles, etc. The exhibition will last until March 30.

Reporter Zhao Zishuo photopagebreak

On March 28th, the audience visited the bicycle frame on display in the bicycle exhibition area.

On the same day, the 22nd China North International Bicycle Electric Vehicle Exhibition opened in Tianjin Meijiang Convention and Exhibition Center. The theme of this exhibition is "innovation, openness, low carbon and multi-sources", with a total exhibition area of over 100,000 square meters. More than 800 exhibitors have brought a number of new achievements and new products in the industry around industrial scientific and technological innovation, cycling culture promotion, international cooperation and exchange, and activities to benefit the people and facilitate the people. The exhibition scope includes bicycles, electric vehicles and parts, baby carriages, leisure products for the elderly, new energy and green vehicles, etc. The exhibition will last until March 30.

Reporter Zhao Zishuo photopagebreak

On March 28th, the audience experienced the bicycles on display in the bicycle exhibition area.

On the same day, the 22nd China North International Bicycle Electric Vehicle Exhibition opened in Tianjin Meijiang Convention and Exhibition Center. The theme of this exhibition is "innovation, openness, low carbon and multi-sources", with a total exhibition area of over 100,000 square meters. More than 800 exhibitors have brought a number of new achievements and new products in the industry around industrial scientific and technological innovation, cycling culture promotion, international cooperation and exchange, and activities to benefit the people and facilitate the people. The exhibition scope includes bicycles, electric vehicles and parts, baby carriages, leisure products for the elderly, new energy and green vehicles, etc. The exhibition will last until March 30.

Reporter Zhao Zishuo photopagebreak

On March 28th, the audience visited the exhibition.

On the same day, the 22nd China North International Bicycle Electric Vehicle Exhibition opened in Tianjin Meijiang Convention and Exhibition Center. The theme of this exhibition is "innovation, openness, low carbon and multi-sources", with a total exhibition area of over 100,000 square meters. More than 800 exhibitors have brought a number of new achievements and new products in the industry around industrial scientific and technological innovation, cycling culture promotion, international cooperation and exchange, and activities to benefit the people and facilitate the people. The exhibition scope includes bicycles, electric vehicles and parts, baby carriages, leisure products for the elderly, new energy and green vehicles, etc. The exhibition will last until March 30.

Reporter Zhao Zishuo photopagebreak

On March 28th, the audience visited the electric bicycle product quality and safety technology innovation center set up in the exhibition.

On the same day, the 22nd China North International Bicycle Electric Vehicle Exhibition opened in Tianjin Meijiang Convention and Exhibition Center. The theme of this exhibition is "innovation, openness, low carbon and multi-sources", with a total exhibition area of over 100,000 square meters. More than 800 exhibitors have brought a number of new achievements and new products in the industry around industrial scientific and technological innovation, cycling culture promotion, international cooperation and exchange, and activities to benefit the people and facilitate the people. The exhibition scope includes bicycles, electric vehicles and parts, baby carriages, leisure products for the elderly, new energy and green vehicles, etc. The exhibition will last until March 30.

Reporter Zhao Zishuo photopagebreak

On March 28th, the audience visited the electric vehicles on display in the electric vehicle exhibition area.

On the same day, the 22nd China North International Bicycle Electric Vehicle Exhibition opened in Tianjin Meijiang Convention and Exhibition Center. The theme of this exhibition is "innovation, openness, low carbon and multi-sources", with a total exhibition area of over 100,000 square meters. More than 800 exhibitors have brought a number of new achievements and new products in the industry around industrial scientific and technological innovation, cycling culture promotion, international cooperation and exchange, and activities to benefit the people and facilitate the people. The exhibition scope includes bicycles, electric vehicles and parts, baby carriages, leisure products for the elderly, new energy and green vehicles, etc. The exhibition will last until March 30.

Reporter Zhao Zishuo photo

　　"Trams sell well, all because of the large fuel tank." Many investors are so ridiculous. Extended-range hybrid vehicles have eliminated consumers’ anxiety about the endurance of pure electric vehicles, and the share price of LI-W (02015.HK) has been hitting record highs, becoming the first component of the Hang Seng Science and Technology Index (HSTECH).

　　However, shortly after Ideal announced the delivery data of nearly 35,000 vehicles in August, the major shareholder Wang Xing couldn’t wait to continue to "sell and sell"; The growth rate of LI’s monthly delivery volume has slowed down significantly; In addition, in the context of the sharp rise in raw material prices, it is also facing more fierce competition in the price war of the whole vehicle. However, LI is determined to develop pure electric products that have suffered heavy bicycle losses.

　　Wang Xing reduced his holdings by nearly 2 million shares.

　　According to information disclosed by HKEx, Wang Xing, CEO of Meituan-W (03690.HK) and non-executive director of LI, reduced his holdings of LI for four consecutive days. From September 12th to 15th, Wang Xing reduced his holdings by 1,947,900 shares, with an average price of HK$ 157.84 to HK$ 160.51, and cashed in more than HK$ 300 million.

　　On September 3rd, LI announced that a total of 34,914 new cars were delivered in August 2023, up 2.28% from the previous month. So far, the cumulative delivery volume of LI in 2023 reached 208,200 vehicles, a year-on-year increase of 176.1%; In July, the delivery volume of 34,134 vehicles was only 4.7% higher than that of the previous month. The company expects that the number of vehicles delivered in the third quarter will be 100,000 to 103,000, a year-on-year increase of 277.0% to 288.3%.

　　Lin Jiayi, general manager of Xuanjia Fund, told the First Financial Reporter that the growth of LI’s monthly sales slowed down sharply, and the chip loosening and callback were predictable from the perspective of fundamental performance prospects, the continuous deterioration of industry competition and the poor liquidity of the capital market with high interest rates. In the dominant business, the space of family scene is limited, and its short moat may not be stable. The possible expansion of pure electric business is a highly competitive market.

　　Huang Xili, an analyst in soochow securities, said that the delivery in August was higher than that in the previous month, and the steady supply and delivery of vehicles and the continuous growth of terminal orders formed a positive cycle. By the end of August, LI had delivered a total of 208,200 vehicles, up 176.1% year-on-year, and its annual performance was worth looking forward to. In addition, the channel network layout has been accelerated and improved, and the terminal efficiency has been continuously improved.

　　On August 18th, Hang Seng Index Co., Ltd. announced the results of the index review. LI’s share in the Hang Seng Science and Technology Index will be reduced from 9.74% to 8%, and its share with six leading Internet companies will be 8%.

　　At present, most pure tram companies are still mired in losses, and some new forces sell a car, with an average loss of tens of thousands of yuan. However, LI, which has turned losses into profits, has to make efforts in this field to "further broaden the user base and open up incremental markets."

　　"The company plans to launch the 5C pure electric super flagship model in the fourth quarter of 2023, the ideal MEGA. The company is confident that the car will become an explosive model of more than RMB500,000. " LI said in the semi-annual report.

　　"In the new stage of parallel operation of extended-range electric and high-voltage pure electricity, we will continue to improve our research and development capabilities in the fields of intelligence and electrification, optimize our products and expand our product matrix. By 2025, our product matrix is expected to include a super flagship model, five extended-range electric vehicles and five high-voltage pure electric vehicles. " The company also said: "We currently have a manufacturing base in Changzhou, China to produce extended-range vehicles, and are building a manufacturing base in Beijing to actively expand production capacity and prepare for the release of pure electric vehicles."

　　Lin Jiayi believes that in recent days, major car companies are also constantly cutting prices, trying to maintain market share. Under this background, LI’s growth space is facing challenges.

　　Huang Xili said that MEGA is expected to be officially released in December this year, exhibited in stores in January 2024, and delivered by users in February. The launch of MEGA will help LI achieve the goal of being the first luxury car brand in China in 2024.

　　Cui Yan, an analyst at Huaxi Securities, believes that LI’s products should be judged not only by price or body form, but also by what kind of demand the products meet, which stems from the ideal understanding of users’ needs and the extensive demand for family cars. The company has great hope to replicate the success of the extended range series in the pure electric product line to gain greater market share.

　　Car companies whose downstream terminal prices are decreasing are also facing the situation that the upstream raw material prices are rising sharply, which will challenge the gross profit margin: within more than three months since the end of May, major industrial products such as copper and aluminum have risen sharply in three months, and the prices of raw materials have risen in an all-round way. In September, Shanghai Aluminum once approached the 20,000 yuan/ton mark, which caused certain cost pressure on auto parts and vehicle enterprises, especially for electric vehicles, and the demand for aluminum was increasing.

William Feng and Zhu Yilong attended the "Know No" conference.

The TV series "Do you know if it should be green, fat, red and thin" was held in Beijing today. The newly-married William Feng people are full of spirits at every happy event. They changed from serious Feng Shu to "Pipifeng", generous and humorous to help "good brother" Zhu Yilong, and contributed many golden sentences. The scene has become his "stand-up comedy" special.

William Feng hugs Zhu Yilong

"Do you know if it should be green, fat and thin?" starring newlyweds Zhao Liying and William Feng. Although the heroine couldn’t attend, William Feng also distributed a lot of "invisible dog food". When talking about his role in the play, Uncle Gu said "sweet": "He will take his wife to eat delicious food, make up his wife, be jealous and have a little mood, and create an atmosphere …" Turning to his rival Zhu Yilong in the play, he asked weakly, "Is it not good to say this in front of you?" Bring laughter to the scene.

When asked about the wisdom of life learned from filming, while shy Zhu Yilong was still thinking, William Feng took the initiative to answer the question: "I’ll answer this! I think Zhu Yilong should have learned a deep lesson. That is, when you like a girl, you must marry her at the first time. Don’t wait! Also, brothers can’t be trusted easily. If you are not active, the opportunity will slip to your brothers. Men must be a little worse. " William Feng also "complained" that the little girls in the play all liked the little grandfather played by Zhu Yilong. "In order to clear up the relationship with me, I followed him and shouted a second uncle … but I was used to it anyway. When I was still very young, my fans called me Feng Shu."

William Feng revealed that although they are rivals in love in the play, they have a good relationship outside the play. Zhu Yilong was shy when he was unfamiliar. "You can not talk from beginning to end after eating a meal." But after getting acquainted, the teacher became more lively and talked about everything. He once took himself to eat chicken, but he failed to learn. William Feng also recalled seeing Zhu Yilong for the first time in the crew. "I like Yi Long very much as soon as I see him. He looks like Tony Leung Chiu Wai [Weibo], so handsome! I took a fancy to him at first sight. But that scene was our tit-for-tat, and the gas field had to be mentioned, so he also promoted the small universe, and I also promoted the small universe, so I stared at each other! " When Zhu Yilong talked about his first impression, he sincerely said: "It was too dark, I didn’t see it clearly …" That led William Feng to "remedy" quickly. "He didn’t wear contact lenses that day!" Also reminded each other in a low voice that "we should flatter each other at this time", Zhu Yilong instantly understood and replied: "Brother Feng is very handsome! My first impression when I saw Feng Ge was that Feng Ge was more handsome than I expected … "

　　China news agency, Beijing, September 6 (Chen Ying) As the world’s largest computer manufacturing base, China’s computer industry has now ranked first in the world.

　　According to the data released by the "2019 World Computer Conference" held in July this year, in 2018, China’s computer industry achieved a main business income of 1.95 trillion yuan, an increase of 8.7% year-on-year; The output of microcomputers is 310 million, and the annual output of servers reaches 2.952 million.

　　It is hard for people today to imagine that China’s first electronic computer — — 103 computers, covering an area of 40 square meters, with an operation speed of only 30 times per second.

　　In January 1953, Hua Luogeng was ordered to set up the first computer research group in China in the newly established Institute of Mathematics of China Academy of Sciences, with Professor Min Dake of Tsinghua University Electrical Engineering Department as the team leader. The goal of this group was to develop China’s own computer.

　　In April 1956, when Premier Zhou Enlai personally led the formulation of a 12-year long-term outline of scientific and technological development, Hua Luogeng was appointed as the head of the computing technology planning group, responsible for drafting the blueprint for the development of computer industry in China. As a result of the implementation of the plan, the Institute of Computing Technology of Chinese Academy of Sciences was born.

　　In 1956, the Preparatory Committee of Institute of Computing Technology of Chinese Academy of Sciences was established in China, and the design of the first small computer 103 in China was completed. It took 8 months for the State-owned 738 Factory to manufacture this computer.

　　In the field of computers, everything is "big" at the beginning. The first computer in New China covers an area of 40 square meters with only a few large cabinets in the mainframe, and there are nearly 4,000 semiconductor germanium diodes and 800 electron tubes in the body.

　　On August 1st, 1958, Computer 103 completed the operation of four instructions, which marked the official birth of the first universal digital electronic computer made by China people.

　　The 103 computer adopts magnetic core and drum memory, the memory is only 1KB, and the operation speed is 30 times per second. Only one year later, the 104 computer came out successfully, and the computing speed increased to 10 thousand times per second. From 30 times to 10 thousand times, it only took more than a year.

　　Since the founding of New China 70 years ago, China’s computer R&D and manufacturing have not only developed from scratch, but also reached the forefront of the world.

　　Supercomputer is a kind of computer with the strongest function, the fastest operation speed and the largest storage capacity. It is mostly used in national high-tech fields and cutting-edge technology research, and is one of the important indicators to measure the level of national scientific and technological development and comprehensive national strength.

　　The first billionth supercomputer in China was "Yinhe -I" developed by the Computer Research Institute of National University of Defense Technology. Its operation speed is more than 100 million times per second.

　　“银河-I”研制始于1978年5月，在1983年12月通过国家鉴定。在1984年，“银河-I”模型还在天安门前参加了新中国成立35周年国庆检阅。

　　资料图：超级计算机“天河二号”。　刘曼 摄

　　“银河”之后还有“天河”。2013年6月，“天河二号”摘夺世界超算500强桂冠，中国超级计算机研制达到了世界领先水平。

　　2016年6月，世界首台峰值运算能力超过每秒10亿亿次、拥有千万核的超级计算机“神威·太湖之光”诞生，此后连续四次雄踞“全球超级计算机500强”榜首。

　　今年6月17日，第53届“全球超算TOP500名单”在德国法兰克福举办的国际超算大会上发布。“神威·太湖之光”和“天河二号”位列第三、四名。

　　而从上榜超级计算机的总数来看，中国以219台上榜系统数位列第一，美国以116台排第二。中国“超算三强”联想、浪潮、曙光分别贡献了173台、71台和63台超算。

　　“天河二号”副总设计师的肖立权曾说，“走别人没有走过的路，太难！但我喜欢挑战！”中国计算机不断挑战新速度，将给中国经济社会腾飞，不断配上更好的引擎。(完)

□ Ma Yuan (Chongqing University)

Recently, "tourism partners are accused of being involved in pornography" has attracted attention.It is reported that some netizens found on a social platform that "all-inclusive travel expenses" is becoming a code word. Under the eye-catching title of such posts, it is usually indicated that "girls only, each takes what he needs". In response to this matter, on the 30 th, the relevant staff of the social platform said that at present, a full-scale review has been carried out for the notes related to the "travel partner" in the station, and the problems reflected by the users mentioned in the article have not yet been located. Once the illegal content is verified, the illegal users will be seriously dealt with according to the law.(August 31st.　China News Network)

With the fiery travel, young people are eager to complete a beautiful trip with the partners who resonate with the same frequency, and the "travel partner" comes into being. Behind the "tourism partner", it reflects the new needs of the younger generation in social and tourism consumption. They find travel companions through social media platforms or specific applications and reach a consensus on travel. This way encourages people to get out of the comfort zone, establish contact with strangers and create a unique and unforgettable travel experience together. However, the beautiful vision of sharing travel experiences has changed in social media platforms.

The emergence of new things is bound to be accompanied by some new problems, and the disadvantages of social interaction are gradually emerging. Some lawless elementsBorrowThe name of the child, the fact of illegal transactions, makes the original pure travel contract a tool for illegal crimes. Social networking with partners is plagued by abuse and misleading on social media platforms: for example, words such as "all-inclusive expenses, optional location" or "girls only, each with his own needs" appear from time to time in the copywriting, and some users even mentioned that they were asked if they were looking for a "green partner". The dissemination of this information not onlyGedaSub-socialization itself casts a shadow, which raises people’s concerns about their privacy and security. The existence of this kind of behavior has undoubtedly pushed the social interaction of partners to the forefront of morality and law, and the future development of social interaction of partners has become vague and uncertain.

The response of the platform involved has taken a positive step.DandaThe abuse of sub-socialization exists not only in one platform, but also in other social platforms. Therefore, all major social platforms should strengthen the audit mechanism, strengthen the monitoring and control of platform content, and contribute to optimizing the network ecological environment. Government departments also need to continue to exert their efforts in supervision, formulate relevant laws and regulations, and severely punish the abuse of social partners for illegal transactions. In addition, the public’s own risk awareness and moral values are equally important. Virtual identities on the Internet are often difficult to distinguish, and it is not uncommon to transmit illegal information through obvious words and expressions. In social networks, users should be rational, keep their eyes open while holding a group to keep warm, and not be blinded by superficial information to prevent the infringement of criminals.

In today’s society full of alienation and social pressure, partner socialization provides a unique and beneficial way for some people to interact. We can’t let the behavior of a few abusers,And denyThe positive value of social interaction. Therefore, all sectors of society need to work together to protect the purity and legitimacy of partner socialization, and strive to ensure that partner socialization is not distorted as a tool for illegal transactions while meeting people’s social needs, so that partner culture can continue to radiate warmth and friendliness and bring positive energy to society.

Text/Yangcheng Evening News All-Media Reporter Li Li

On March 28th, the 8th China Public Welfare Annual Conference was held in Tsinghua University. The theme of this year’s annual meeting is "Keep your passion, keep going". It is hoped that through the "aggregation effect" of the annual meeting, the public welfare undertakings of "improving social efficiency, creating social atmosphere, participating in social incentives and building modern civilization" will continue to create new social values.

In order to carry forward the positive energy of society, lead more people to participate in public welfare undertakings, and jointly help new formats and modes such as live broadcast, short video and instant e-commerce to standardize healthy and sustainable development, Public Welfare Times held the launching ceremony of "China Public Welfare Anchor List" at this annual meeting.

The Public Welfare Times compiled and published the "China Public Welfare Anchor List", and the "China Public Welfare Anchor List Office" was responsible for the collection, compilation and publication of public welfare practice cases in the anchor field, and praised celebrities, network anchors, content creators, caring enterprises, etc. who made outstanding contributions to society, so as to make digital public welfare communication more social. The establishment of this list not only reflects the society’s attention to digital public welfare, but also highlights the positive role of network anchors and content creators as public figures in spreading positive energy and leading social fashion.

"Find the power of example and carry forward the spirit of public welfare!" Next, China Public Service Anchor List will hold a series of special events on public service cultural themes, such as "China Public Service Good Things" and "Digital Public Service Competition". Together with major network platforms, high-quality anchors, social celebrities, caring enterprises and public service brands, we will build a digital and sustainable public service ecosystem through digital empowerment.