月度归档：2024年04月

Yu Chengdong stepped down as CEO

Text | Technology Daily Push

The position of CEO did disappear, but he was promoted to chairman.

On September 21, the first financial news, Huawei officially issued a document, and adjusted the position of the automobile industry.

Jin Yuzhi, president of Huawei’s optical product line, took over the post of CEO of smart car solution BU from Yu Chengdong, and Yu Chengdong became the chairman of BU.

Huawei official website introduced that it has not been adjusted yet.

Ask the world about the new car launch in the future, and you can still hear "far ahead".

Huawei’s mobile phone returns, and Yu Chengdong needs to redo time management.

Regarding this operation, a senior industry insider said, "With the return of Huawei mobile phones, Yu Chengdong can focus more on mobile phones. 」

In the past few years, Huawei’s mobile phone sales have fallen sharply due to sanctions. To this end, Yu Chengdong took over the BU and promoted the smart car selection mode, hoping to make up for the lost mobile phone revenue by selling cars.

However, in the first half of this year, the situation ushered in a turning point, and many new machines such as P60 series and Mate X3 series helped Huawei’s mobile phones rise against the trend.

According to data released by IDC, in the domestic market in the second quarter, Huawei’s mobile phone shipments increased by 76.1% year-on-year, the fastest growth rate among all manufacturers, and tied for fifth place with Xiaomi’s mobile phone with a market share of 13.0%, up 5.7 percentage points over the same period last year.

And its momentum in the second half of the year will be even stronger.

On August 29th and September 8th, Huawei directly launched three models in official website: Mate 60 Pro/Pro+ and Mate X5. All three models are hard to find, which also makes the sales of Huawei mobile phones to a higher level.

According to the authoritative market research organization of the supply chain, in the 36th week of this year (9.4-9.10), Huawei mobile phones won the second place in the smart phone market in China with a market share of 17%, only 17.2% higher than the first, and 0.2% behind.

It is estimated that in the 37th week (9.11-9.17), Huawei is expected to achieve the first market share in sales volume.

At the same time, according to Caijing. com, many people close to Huawei confirmed that Huawei has launched a comprehensive plan to return to the global mobile phone market, with the domestic market first and the overseas market later.

On September 14th, Huawei held an overseas conference in Barcelona, bringing a variety of flagship products to the European market. After that, Huawei will continue to hold press conferences in China, Middle East and Africa, Asia-Pacific and Latin America.

Re-attacking cities overseas requires a leader who can fight "tough battles", and Yu Chengdong is the best candidate.

In February this year, Yu Chengdong mentioned in an interview with the media that he spent his holiday time and evening time on car business besides working during the day. "Now my personal energy investment is relatively large, and I may spend 40% of my time in AITO."

Obviously, with the return of Huawei mobile phones, Yu Chengdong needs to do time management again. The outgoing car BU CEO was appointed as the chairman and put more energy into the mobile phone.

Yu Chengdong’s successor, the first show or the M9 conference in the world.

Yu Chengdong BU CEO was succeeded by Jin Yuzhi, president of Huawei Optical Product Line.

Huawei optical product line, also known as Huawei optical transmission and access product line, has jurisdiction over optical transmission, optical access, optical applications and other fields. Mainly to provide customers with high-value, high-reliability assisted driving, light display and light technology production solutions.

Prior to this, the intersection of optical product line and car BU was Huawei’s newly established intelligent car optical service in recent years, including AR HUD, intelligent car lights and light field screens.

Among them, Huawei’s AR HUD has been mass-produced on Feifan R7; Huawei’s smart car lights, light field screens and other products are expected to be carried on the follow-up models selected by Huawei, such as Wenjie M9.

If there are no accidents, the upcoming M9 will be Jin Yuzhi’s first show after taking office. I wonder if he will shout "Far ahead" ~

With the above changes, the current management structure of Che BU includes:

Huawei Terminal BG CEO, Chairman of Smart Car Solution BU, Yu Chengdong

President of Huawei Optical Product Line, BU CEO of Smart Car Solution, Jin Yuzhi

Huawei Smart Car Solution BU CSO, Wang Jun

President of Huawei’s intelligent driving solution product line and general manager of intelligent driving field, Li Wenguang

tag

For Jin Yuzhi, Huawei Car BU CEO is a very challenging position.

Since its establishment, the business unit has invested more than 3 billion US dollars (about 20.6 billion yuan) in research and development, but its revenue in 2022 was only 2.1 billion yuan, and in the first half of 2023 it was only 1 billion yuan, making it the only loss-making business of Huawei.

At present, Huawei BU has three business models, one is to sell standardized auto parts; The second is the Huawei Inside mode (HI mode) that provides full-stack smart car solutions; The third is to deeply participate in product and vehicle design, as well as the intelligent car selection mode that provides sales network channels.

HI mode and intelligent car selection mode are not developing smoothly.

The monthly sales of Changan Aouita and Beiqi Polar Fox, which adopt HI mode, are hovering around one or two thousand units, far less than expected. Guangzhou automobile directly gave up the HI mode.

The intellectual car selection model was very strong when it first came out last year, and its delivery volume exceeded 10,000 for four consecutive months, becoming the biggest dark horse of the new forces. However, this year, the situation has turned sharply, and there is no good news that the monthly delivery volume has exceeded 10,000.

Last week, the redesigned M7 went on the market, which ushered in a big sale through "upgrade+price reduction". Before we could celebrate, this week’s redesigned G9 in Tucki came and stole many users.

The good news is that Jin Yuzhi and Huawei BU have more intersections with the auto parts model, and the development in this direction is relatively good.

Huawei’s annual report last year showed that by the end of 2022, it had shipped nearly 2 million sets of components, including intelligent cockpit, intelligent driving, intelligent electric, intelligent Che Yun, millimeter-wave radar, camera, gateway, lidar, computing platform, AR HUD, T-Box and other products and solutions.

In recent days, it has been reported through the grapevine that Huawei and BYD signed a cooperation agreement to provide Kirin car chips for each other. If it is true, it will be a big business.

Yu Chengdong has publicly stated that Huawei BU will be profitable in 2025.

We will wait and see what kind of plan Jin Yuzhi will come up with in the face of the goals set by the leaders before.

The explosion of online celebrity cuisine in the National People’s Congress canteen has raised the memory of taste buds to the level of cultural expression.

　　"I finally got it ‘ Online celebrity ’ Youth League! " With pictures and click Send, a graduate student of Renmin University of China Law School wrote such a circle of friends and joined the big team of "punching in" in the campus canteen.

　　On the eve of Tomb-Sweeping Day, the Youth League made by the dining hall in the North District of Renmin University was once again "on fire", with an average of 2,000 copies sold every day. On the Internet, netizens from inside and outside the school have forwarded and commented on relevant news, bluntly saying "I want to eat". On March 26th, the Logistics Group of the National People’s Congress also launched the Youth League Gift Set, which was sold online and offline.

　　In fact, the Youth League is not the only "online celebrity cuisine" produced by the National People’s Congress canteen. Also famous are more than 10 kinds of food, such as pumpkin bread in the east dining hall, gift box for new year’s goods in the central dining hall, Shandong jujube steamed bread bigger than the face in the west dining hall, and Chongyang cake in the north dining hall.

　　Why can university canteens keep making "explosive online celebrity dishes"? How are these "online celebrity dishes" cooked? What kind of sparks can be generated when the canteen tastes big data and the Internet?

　　Online and offline "sense of participation"

　　Many students of Renmin University know Wang Ruorong and Song Da Me.

　　Off-line, Wang Ruorong is the director of the canteen in the North District of the National People’s Congress. At the peak of eating, I can always see him shuttling among the students to collect comments. Online, he is also a little-known "online celebrity". Since he opened the Weibo, he has frequently interacted with students to discuss what is delicious in the canteen. He has also published a book called "The Taste of the National People’s Congress".

　　Originally, there was only an ordinary "big pot rice" on the first floor of the North District canteen. Wang Ruorong found that this could not meet the needs of students, and made up his mind to open a Jiangnan flavor window, focusing on crab yellow soup packets. Not long after, a student went to Weibo to leave a message, "Can we also do some youth groups?"

　　The suggestion was quickly adopted. Wang Ruorong studied it several times with the chef of the canteen. Before Tomb-Sweeping Day last year, this kind of snacks with Jiangsu and Zhejiang flavor was launched on the first floor of the North District canteen and sold for more than 20 days. Because all of them are on-site packages and steaming, students waiting in line often have to stand at the gate of the canteen from the window.

　　At present, this "online celebrity Youth League" has two kinds of fillings: egg yolk floss and pine nut bean paste. In order to ensure the quality, Wang Ruorong and the masters did not choose the egg yolk packed in vacuum in the market, but pulled the egg yolk from the salted duck eggs on the spot; In order to adjust the greasy bean paste, they added kumquat pieces and pine nuts to it, blending a sour and sweet smell.

　　If the youth league’s "red-hot" is an accident, then this year, other foods in the National People’s Congress canteen, like the youth league, have been on fire one after another, which proves that this is not just an accident.

　　Song Da-i, also a "Weibo red man", was the deputy director of the Institute of Investigation Technology of the National People’s Congress. The associate professor of Renmin University commented that he "loves food and life". After being transferred from the front line of teaching to the general manager of the school logistics group, he began to "toss".

　　"Warm People’s Congress" is the official WeChat of the logistics of the National People’s Congress, and it is also the WeChat WeChat official account that the students of the National People’s Congress pay the most attention to. In order to improve the service ability of the canteen, they posted a lot of news about campus food, such as new dishes and scheduled tasting activities.

　　Not long ago, the logistics group also launched the "canteen iron powder group" on the micro-signal. Students of the Iron Powder Group can deeply participate in the promotion of new dishes in the canteen, the promotion of dishes and the tasting of dishes, and at the same time enjoy VIP treatment and participate in cooking demonstration classes and practical classes. The Logistics Group also gives lectures on cooking techniques to Iron Powder from time to time and gives live demonstrations on cooking. Carry out cooking practice classes or organize "iron powder" for cooking skill competitions.

　　The opinions of these students can influence the standard of food in the canteen. Song Da I hope that the students who join are not "canteen tourists" who have tasted it, but "senior foodies" who really have an insightful understanding of the canteen. Their screening criteria for "iron powder" are: participating in 8 campus food activities each semester, and at the same time "punching in" and collecting 18 "likes" in the circle of friends.

　　"Many times, food is just a chat." Song Dawei said that the canteen and students should break the distance and communicate more through various channels. Now, they display new products in articles pushed by WeChat, and also disclose the production process of "online celebrity cuisine" one by one.

　　Song Da I gradually found that many students would "like" the canteen even if they didn’t eat new food. The alumni who have graduated seem to feel the happiness brought by the campus canteen from a distance, and many outsiders know the "online celebrity cuisine" of the National People’s Congress through this window.

　　The "assembly line" of interdisciplinary subjects

　　As the master planner of "online celebrity" food, Song Da always talks about his student team.

　　Song Da came from a statistical background, and I know how to "play with" data best. After starting to work as a student, he added logistics-related contents to the campus satisfaction survey of the National People’s Congress: students’ taste preferences, the degree of solving canteen service problems, and "scoring your favorite canteen" all appeared on the questionnaire. Subsequently, the teachers and students of the School of Statistics will conduct big data processing to screen out the most useful information.

　　Find out the taste and demand, and the rest is publicity and packaging. The promotion of "online celebrity cuisine" in the new media is "manipulated" by the students of the School of Journalism; Product design is free for students majoring in Chinese painting in the Art College.

　　Before each new issue of "online celebrity" is released, Song Da and I will take the team to "meet the model" first, observe the shape and color of the cooked dishes, then understand their ingredients and preparation methods, then take photos and finally taste them. "Only in this way can we design a higher quality copy."

　　The food design and dissemination of the National People’s Congress has benefited from the professional strength of this top comprehensive university. Luan Yimei, a professor at the School of Journalism, Renmin University of China, said that "online celebrity cuisine" can be a big fire precisely because of interdisciplinary cooperation among students. "We used to focus on the development of a single discipline and explain problems, but to really solve problems, we must cooperate across disciplines. ‘ Online celebrity cuisine ’ Starting from the needs of students, telling your own story well and grasping the law of communication will be welcomed. "

　　Dishes are popular, and innovation is naturally more motivated. In the impression of Zhang Yiran, a sophomore in the School of Journalism, in the past year, the innovation of the school canteen has become greater, and new dishes will be introduced soon. This is also the change that Song Da expected to achieve. On Monday alone this week, more than 30 kinds of snacks were introduced in the North District canteen.

　　Behind the new dishes, the logistics group "I am a chef" WeChat group studied and pondered at length. Last year, Song Da and I brought several canteen directors into a group. Usually, he would throw the good ideas he saw and thought into the group at any time to share, and sometimes they hit it off, forming offline products.

　　For example, after the creativity of pumpkin bread reached an agreement, the central dining hall took the lead in setting an example, tying the bread into a strand with a string, which visually approached the appearance of pumpkin; The dining hall in the North District has worked hard on stuffing to turn pumpkin into a hidden "connotation"; The east dining hall also added sausage elements. "Everyone is competing for a competition. I didn’t expect the campus canteen to be so active." Song Da sighed.

　　The youthful taste of productization

　　After the Youth League became "hot", many graduates left a message under the article of WeChat WeChat official account, "What a pity! I graduated too early. "

　　I found that the Youth League is not only a holiday food need for students in school, but also symbolizes a unique "symbol of the National People’s Congress" — — Students who have graduated expect to find campus memories through tasting, and teachers and students of the school also want to share this campus taste with relatives and friends. At the end of 2017, the Logistics Group officially planned to make the bulk youth league into a gift box set that can be sold.

　　On March 26th, the Youth League gift box set was officially launched. The kraft paper bag used for packaging is printed with "memories of youth from the National People’s Congress canteen". The green ball stuffed with meat floss and egg yolk is called "this heart stumbles", and the green ball stuffed with pine nuts and bean paste is called "Acacia". A new green ball stuffed with fresh shepherd’s purse also has the same literary name — — "A thousand miles".

　　Song Da I said, "The most fundamental duty of the school canteen is to meet the dining needs of students and ensure their food and clothing for three meals a day. On this basis, delicious food is also very important. We hope to bring students different experiences, enhance their campus happiness, and let the memory of taste buds rise to the cultural expression level of the National People’s Congress. "

　　In addition to "going out" of products, they also attach importance to "bringing in" to supplement new energy for campus canteens. Last year, Song Da-i founded a series of activities called "Guest Chef RUC" with the logistics group, and invited elites from the catering industry in society and universities to come to the school for exchange.

　　The activity was held in turn by five canteens of the National People’s Congress, and the directors of each canteen were secretly "competing". They invited the master of state banquet in the Great Hall of the People, chef Tan Jiacai of Beijing Hotel, members of the French Chef’s Association, and even a team of chefs who maintained the Guinness World Record.

　　This activity has been successfully held for 12 times, and there is no funding for inviting chefs. I didn’t expect that the catering department of a well-known hotel would take the initiative to find it and ask to enter the school to cook for the students.

　　Zhang Yiran has experienced several guest kitchens, and she still remembers the popularity of the event. "Hundreds of copies were sold out at once.". Now, she and her classmates are on the public platform of "Warm People’s Congress", waiting for the news released by the guest kitchen activities.

　　Song Da, I feel gratified. He said that many new dishes had been introduced in the original canteen. Because of the asymmetric information, it was sometimes difficult for students to know the relevant information. After the trial period, these dishes were removed from the shelves with low sales. "The convenience brought by new media communication is mainly rapid. Students can quickly understand information, experience and give opinions quickly, and we can also make judgments quickly and adjust in time. "

The General Administration of Market Supervision imposed administrative penalties on unfair price behaviors of five community group buying enterprises.

　　CCTV News:Some sell goods below the purchase cost through huge subsidies, "dumping at low prices"; Some mark false original prices and discounts when selling goods, and lie about price reduction to trick consumers into buying. To this end, the General Administration of Market Supervision imposed administrative penalties on unfair price behaviors of five community group-buying enterprises, including Orange Heart Optimization, Buy More Vegetables, Meituan Optimization, Shihui Group and Food Enjoyment Club, and five enterprises were fined, with a total fine of 6.5 million yuan. In this regard, on the morning of March 3, the General Administration of Market Supervision made an administrative penalty on the unfair price behavior of five community group buying enterprises.

　　Question 1: Recently, the General Administration of Market Supervision imposed administrative penalties on five community group buying enterprises according to law. What are the main considerations?

　　In recent years, the status of Internet economy in China’s national economy and society has been significantly improved, and it has become an important engine to promote economic development and an important starting point to improve people’s livelihood. It has played a positive role in coping with the impact of epidemic situation, improving shopping experience and improving supply chain structure. However, with the large-scale entry of major Internet platform enterprises into the community group buying market, problems such as irregular order and illegal operation have become increasingly apparent, which has aroused great concern from all walks of life.

　　First, improper means are used to squeeze the offline community economic market, which is easy to cause disorder and affect social stability. Internet platform enterprises use the advantages of capital and traffic to enter "community group buying" and compete for the market at a price lower than the cost, which will have an impact on offline community economic models such as small vendors and community convenience stores and bring obvious negative effects. Second, large Internet platform enterprises have an unfair competition tendency of "burning money to grab the market and raising prices after monopoly", which is easy to damage consumers’ rights and interests. In the short term, consumers can really get short-term benefits at a lower price when the relevant enterprises implement the "subsidy" strategy in the early stage of competition. However, after occupying the market, related enterprises are likely to raise prices substantially to obtain high monopoly profits, seriously damaging the interests of consumers. Third, unfair price behavior disrupts the market price order. Community group buying platforms generally have problems such as huge subsidies, selling goods below the cost price, and some community group buying platforms use price fraud to deceive consumers. The above acts seriously infringe upon the legitimate interests of other operators and consumers, damage the market environment of fair competition and undermine the normal market price order.

　　The products and services provided by community group buying are mainly "rice bags" and "vegetable baskets". The rising prices of these basic livelihood commodities are likely to lead to economic and social turmoil. The Central Economic Work Conference made it clear that the disorderly expansion of capital should be prevented. The General Administration of Market Supervision resolutely implemented the deployment of the Central Economic Work Conference, took effective measures to strengthen the supervision of the community group buying market, responded to social concerns in a timely manner, and standardized corporate behavior. Monitor the price behavior of community group buying enterprises and conduct investigations according to law. It has been found that there are unfair price behaviors such as low-price dumping and price fraud in community group buying enterprises such as Orange Heart Youxuan (Beijing) Technology Development Co., Ltd., Shanghai Yucan Information Technology Co., Ltd., Shenzhen Meituan Youxuan Technology Co., Ltd., Beijing Shihui Technology Co., Ltd. and Wuhan Qiwei Delicious Technology Co., Ltd.

　　Question 2: Please brief us on the basic situation of these five cases?

　　The companies punished this time are: Orange Heart Optimization (Beijing) Technology Development Co., Ltd. (Orange Heart Optimization), Shanghai Yucan Information Technology Co., Ltd. (Buy more food), Shenzhen Meituan Optimization Technology Co., Ltd. (Meituan Optimization), Beijing Shihui Technology Co., Ltd. (Shihui Group) and Wuhan Seven Kinds of Delicious Technology Co., Ltd. (Food Enjoyment). The above five enterprises occupy a large share in the community group buying market, and the basic situation of the case is as follows.

　　First, through huge subsidies, there is a "low-price dumping" behavior of selling goods below the purchase cost. In order to seize the market, four community group buying enterprises, such as Orange Heart Youxuan (Beijing) Technology Development Co., Ltd., Shanghai Yucan Information Technology Co., Ltd., Shenzhen Meituan Youxuan Technology Co., Ltd. and Beijing Shihui Technology Co., Ltd., took advantage of the capital and adopted subsidies in the form of direct drop and coupons, resulting in the sales price of a large number of goods being lower than the purchase cost. If the costs of operation, warehousing and logistics are included, the actual sales revenue is much lower than the cost of goods, which disrupts the normal production and operation order and damages the legitimate rights and interests of other operators. The above acts violate the relevant provisions of Article 14 of the Price Law of People’s Republic of China (PRC), and constitute dumping at a low price.

　　The second is to use price fraud to trick consumers into trading with them. Five companies, including Orange Heart Optimization (Beijing) Technology Development Co., Ltd., Shanghai Yucan Information Technology Co., Ltd., Shenzhen Meituan Optimization Technology Co., Ltd., Beijing Shihui Technology Co., Ltd. and Wuhan Qiwei Delicious Technology Co., Ltd., used false original prices, discounts, and lied about price reduction to trick consumers into buying goods; There are price violations such as not clearly indicating the meaning of the price comparison line. The above-mentioned behaviors belong to the behaviors mentioned in Article 7 of the Provisions on Prohibiting Price Fraud and Article 21 of the Interim Provisions on Regulating Promotion Behavior, which violates the relevant provisions of Article 14 of the Price Law of People’s Republic of China (PRC) and constitutes price fraud.

　　Judging from the investigation, the illegal facts in five cases are very clear. During the investigation, we extracted the commodity pages, relevant financial data and service agreements related to price behavior according to law, carefully combed and analyzed the relevant materials, and repeatedly accounted for the amount of subsidies. At the same time, we also solicited the opinions of relevant parties according to the specific circumstances of the case. The survey shows that the facts of unfair price behaviors of five enterprises are clear and the evidence is conclusive. The General Administration of Market Supervision decided to impose a total fine of 6.5 million yuan on five enterprises, including Orange Heart Optimization (Beijing) Technology Development Co., Ltd., Shanghai Yucan Information Technology Co., Ltd., Shenzhen Meituan Optimization Technology Co., Ltd., Beijing Shihui Technology Co., Ltd. and Wuhan Qiwei Delicious Technology Co., Ltd., for low-price dumping and price fraud.

　　Question 3: We noticed that the above-mentioned enterprises were fined. What factors were mainly considered?

　　When the General Administration of Market Supervision made the decision on administrative punishment, it mainly considered the following aspects. First, illegal activities have a greater impact on the normal market competition order. The above-mentioned enterprises sell goods below cost, with a wide range of subsidies, frequent subsidies and large subsidies, and their business volume has exploded, which has a great impact on the normal business activities of farmers’ markets, bazaars and small traders. Second, the social harmful consequences of illegal acts are more serious. The above-mentioned enterprises have great influence in the industry, with a huge number of users and huge market influence. The impact of their illegal activities is rapidly amplified by the scale effect and network effect of the Internet, with wide coverage and serious harmful consequences. Third, the circumstances of the illegal act are relatively bad. After the administrative guidance meeting of the General Administration of Market Supervision to standardize the order of community group buying, although the amount of subsidies for the above-mentioned enterprises has been reduced, it has not been comprehensively rectified. Therefore, the General Administration of Market Supervision decided to impose a fine within the scope prescribed by law in the hope of investigating a number of cases, standardizing an industry and purifying a field.

　　Question 4: What other work has the General Administration of Market Supervision done to strengthen the supervision of community group buying, and what are the specific considerations for the next step?

　　On December 22, 2020, the General Administration of Market Supervision and the Ministry of Commerce organized an administrative guidance meeting to regulate the order of community group buying. The meeting affirmed the positive significance of the economic development of the Internet platform, and seriously pointed out the outstanding problems such as low-price dumping and price fraud in community group buying. It is emphasized that Internet platform enterprises should strictly regulate the business behavior of community group buying, and strictly abide by the prohibition of low-price dumping and price fraud; Do not engage in acts of unfair competition such as commercial confusion, false propaganda and commercial slander; Do not use the advantages of data to "kill" and harm the legitimate rights and interests of consumers; Do not use technical means to damage the order of competition and hinder the normal operation of other market players.

　　In the middle and late December of 2020, the General Administration of Market Supervision directly investigated five community group buying enterprises. On March 3, 2021, the General Administration of Market Supervision publicly fined the above-mentioned community group-buying enterprises for unfair price behaviors such as low-price dumping and price fraud, which effectively shocked the illegal enterprises and effectively promoted their rectification.

　　In the next step, the General Administration of Market Supervision will actively respond to social concerns, strengthen investigation and study, judge and grasp the market dynamics of community group buying, innovate supervision methods, strengthen law enforcement and case handling, standardize the market order of community group buying according to law, effectively safeguard the legitimate interests of other operators and the legitimate rights and interests of the people, and create a fair and orderly market environment.

Professional counterfeiter Wang Hai： This year, we will not rule out playing online red and playing Wechat business.

　　When Wang Hai, a tall man, appeared in front of Chengdu Business Daily reporters, he would not attract much attention. He didn’t wear his trademark sunglasses, the personal logo that has been with him in his anti-counterfeiting career for the past 21 years. But when it comes to taking pictures, the black sunglasses appear on his face in a blink of an eye.

　　The man who used to wear the hat of "fake hero" is now 43 years old. With the promulgation of the new Consumer Protection Law and the improvement of a series of relevant laws and regulations, it is easier for consumers to protect their rights. Today’s Wang Hai seems to be inferior to the "fake idol" who has been shouting and fighting all the time. With only 100,000 fans in Weibo, he is not even "online celebrity", although his personal introduction is still "the first person to fight counterfeiting".

　　However, with the emergence of more and more professional counterfeiters, consumer rights protection has entered a normalization, and Wang Hai is only one of many professional counterfeiters.

　　When online shopping has become an important way of consumption, professional counterfeiters have begun to specialize in e-commerce. Liu Yanqing sued more than 30 cases in half a month, all of which were related to online shopping. He said that after he picked out the thorns, the operators would definitely improve, which was a thunder for future consumers.

　　Professional counterfeiters have gone through 21 years from barbaric growth to rational rights protection. Nowadays, they prefer to be called builders. "Promote the improvement of relevant laws and claim compensation within the legal bottom line."

　　Wang hai

　　"My personal pursuit is to be a builder"

　　"This year, I don’t rule out playing net red and playing Wechat business."

　　Wang Hai, who owns four business investigation companies, currently has more than 30 employees, mostly lawyers and investigation managers. Last year, more than 500 cases were handled, with an amount of more than 10 million. The company is mainly engaged in three kinds of businesses to help consumers defend their rights and fight counterfeiting; Knowing and buying fakes; Employed by enterprises, counterfeiting for enterprises. The third is the focus of his business.

　　Compared with before, Wang Hai’s exposure has decreased, but his cooperation with government departments has increased, more than 400 times a year. He has become more gentle, not always "pinching". In his own words, it is called "rational blood".

　　"My personal pursuit is to be a builder. Solve the problem constructively. " What Wang Hai hasn’t changed is the clarity of thinking and the endless desire to express. He said that he expected to promote consumers’ awareness of rights protection and the integrity of China people, so as to advance the law.

　　Nowadays, compared with the endless stream of "online celebrity", Wang Hai is not a name with internet popularity anytime and anywhere. He sent a Weibo, and there were often only a few or dozens of comments and reposts. "There is no deliberate management, and I don’t want to be too conspicuous. Being online celebrity is not the goal."

　　Wang Hai is dismissive of today’s "online celebrity economy". He mentioned that many online celebrity stores sell all kinds of cosmetics and clothing, but many of them are refurbished by stalls, and there are quite a few inferior products. "This year, we will not rule out playing online red and playing Wechat business."

　　What Wang Hai is pondering now is how to promote the establishment of the Whistleblower Act (whistleblower sharing fines) in China. He said that he had previously reported Nike, and the maximum bonus given by the government department was 100,000 yuan. And if the Whistleblower Act can be established, 30% to 50% of the fines imposed on enterprises will be distributed to whistleblowers, which will give every insider, even corporate executives, the incentive to become a voluntary supervisor.

　　Another goal of Wang Hai is to promote consumer organizations that can play games. He gave this organization, which is still spinning in his mind, a grounded name "Children’s Mothers Association". Wang Hai said that the "Children’s Mothers Association" can set up a laboratory to test all kinds of goods at any time; Detectives can be sent to investigate the production of each enterprise and test reports can be issued. The price violence of foreign milk powder will not happen, and it can also fight against the format contract with overlord clause. "If the child’s mother is associated with 1 million people, pricing consumers can participate."

　　Liu Yanqing

　　From shopping malls to online shopping.

　　You can easily take screenshots to collect evidence without leaving home.

　　Liu Yanqing, who has 15 years of experience in counterfeiting, is a native of Beijing. His office is hidden in a two-bedroom apartment in an old residential area near the Apple Orchard in Beijing. His company has only five or six employees at present. The main business, of course, is counterfeiting. Last year, after deducting employee salaries and various costs, Liu Yanqing’s net income from counterfeiting was around 800,000.

　　"85% of my cases now are e-commerce counterfeiting." Liu Yanqing, who once beat more than 50 large shopping malls in Beijing at least once, is now dying with e-commerce companies more often. The first e-commerce anti-counterfeiting took place in 2013. He bought cosmetics of a well-known brand for 4,000 yuan online and sent them to the headquarters of the brand in China for testing, and came to the conclusion that the outer packaging did not match the genuine product. Finally, under the mediation of the court, after six months, he got 4000 yuan compensation.

　　Study various judicial interpretations

　　According to Liu Yanqing’s cost performance ratio, the first experience of "online counterfeiting" was not a "good business" during his counterfeiting career. But this stubborn Beijing man feels that the other party’s attitude of downplaying only "regulatory mistakes" has hurt himself. He began to switch from shopping malls to online shopping.

　　In the past more than half a month, Liu Yanqing has claimed more than 30 cases from various e-commerce websites. Liu Yanqing has her own understanding of the reason why she moved from a physical store to an e-commerce. He said that although online shopping is more difficult than physical stores, for example, it can’t communicate directly with the supervisor, but it can only communicate by phone, and it is easy to be refused compensation. However, compared with physical stores, online shopping can crack down on fakes without leaving home, and it is easy to obtain evidence and screen shots. The evidence of screen shots is notarized and preserved, which is very convincing in evidence and the proportion of successful claims will be higher.

　　Liu Yanqing, who just graduated from junior high school, studied laws including the Consumer Protection Law and various related judicial interpretations of the Supreme Court. In order to crack down on jewelry, he specially studied jewelry appraisal and was familiar with relevant industry standards. This made him practice a pair of critical eyes, and when he searched online, he knew which goods had false propaganda or other certain problems even in the description.

　　On February 26th, Liu Yanqing bought a bracelet marked "Baltic amber beeswax" in JD.COM shopping mall, and the price was 1799 yuan, while the original price was 17990 yuan, equivalent to 10% discount. It took only four days for Liu Yanqing to buy the goods, file a claim, return the goods, return the payment, and get the compensation of 2500 yuan.

　　Liu Yanqing took out a set of national standards for jewelry and the notice of the National Development and Reform Commission on the interpretation of the relevant provisions of the Provisions on Prohibiting Price Fraud. These two documents are the basis for his quick claim. He said that on the online shopping page of this bracelet, the place of origin is obviously the mainland, but the name is marked with the Baltic Sea, which is suspected of falsely marking the place of origin. This bracelet was put on the shelves on February 24, and the original price was marked with more than 10,000 yuan. There must be a transaction record of the original price sales, otherwise it is a virtual standard price.

　　I used to watch Wang Hai fake on TV.

　　Because of the revision of the Civil Procedure Law in 2014, it is stipulated that online shopping disputes can be prosecuted in the court where the goods are received, which makes Liu Yanqing’s e-commerce anti-counterfeiting cause more good news. He laughed and said that he could sue the e-commerce operators who he thought had problems all over the country in the Shijingshan court at his doorstep.

　　Liu Yanqing’s e-commerce anti-counterfeiting process has been completely streamlined. He will give employees standardized training in food, clothing, jewelry and other commodities in advance, and then let employees find out the products that describe problems, and then he will screen them himself and place an order after confirming that they are correct. "A dozen are accurate."

　　However, the name Liu Yanqing is not a popular name for many online shopping platforms. His Amazon account was cancelled for "violating online trading rules". Or, the operator will tell him that the goods are out of stock and let him choose to return them. "I entered the blacklist of e-commerce, but it doesn’t matter. I can also register many other accounts. There are more than a dozen."

　　Liu Yanqing, who has driven a taxi, opened a canteen and sold mutton kebabs, once watched Wang Hai’s counterfeiting on TV. After stepping into the business of professional counterfeiters, I found that this industry with a little personal heroism brought him unprecedented self-confidence.

　　He was once "threatened" by the store to report his extortion. But Liu Yanqing, who is a little "mixed", responded like this: "If I knock, I knock internally according to the law, and I don’t do it if I don’t do it."

　　Feng zhibo

　　"Almost all the claims were won last year."

　　"I hope that fakes can be bought less and less."

　　Feng Zhibo, a Wuhan native who started counterfeiting in 1997, now lives in Guangzhou. He has two identities, one is a professional counterfeiter and the other is a clothing operator. He said that it is precisely because he is counterfeiting and knows the cost of illegal business that he will be more cautious when doing clothing business.

　　In 2013, there was a provision in the Supreme Law on several issues concerning the application of law in the trial of food and drug disputes. If there was a dispute over the quality of food and drugs, the buyer claimed the rights from the producers and sellers, and the producers and sellers made a defense on the grounds that the buyer knew that there were quality problems in the food and drugs but still bought them, the people’s court would not support it. This means that even if you buy a fake knowing it, it will not affect the claim.

　　Last year, Feng Zhibo focused on food counterfeiting. For a whole year, he has been arguing with ordinary food with cod liver oil, suing for compensation, and probably got millions of compensation. "Professionals buy problematic goods, so less will be left in the hands of consumers. From this perspective, it is good for the market. I hope that fakes can be bought less and less."

　　Last year, Feng Zhibo, who likes to be more serious, won almost all the claims. The only case that lost in the first instance was changed in the second instance, and Feng Zhibo, who got the verdict, was somewhat gratified, which meant his 100% winning rate. He believes that this is a more perfect law to protect his legitimate rights and interests.

　　Say/method

　　A professional counterfeiter in the eyes of a lawyer;

　　Counterfeiting is conducive to market regulation.

　　Qiu Baochang, head of the lawyers’ group of China Consumers Association, told Chengdu Business Daily that personally, professional counterfeiters should not kidnap them with morality as long as they have not violated the law. The existence of professional counterfeiters is beneficial to market purification, to the interests of consumers, to the protection of legitimate enterprises and to market regulation.

The boy rewarded the female anchor for 70 days. The 1.58 million live broadcast platform refused to refund.

CCTV News:Minors are immature, and their cognitive ability and self-control ability are low. It is precisely because of this feature that they are not only tricked into participating in pornographic live broadcasts, but also become blind rewards for various live broadcasts. In the process of live broadcast, the anchor often uses induced words to urge the audience to send gifts. For the audience with high reward, the anchor will praise them or perform for them specially, and many minors are immersed in it. Recently, Tianjin No.3 Intermediate People’s Court tried such a case. In 70 days, the minor Xiao Liu rewarded all 1.58 million yuan to an anchor.

In this case, Xiao Liu, a minor, dropped out of school at home in the second day of junior high school. His parents asked him to collect money at his own vegetable wholesale booth and was busy making a living. Parents rarely asked about their children’s situation. There was basically nothing to do at night, and he was quickly attracted by a female anchor on a webcast platform, rewarding, thanking, performing alone, and rewarding more. After many interactions, Xiao Liu was addicted to it. Basically, the food collected during the day would be rewarded at night, sometimes as much as 20,000 to 30,000 yuan per night, until it was discovered by his parents more than two months later.

Immediately, Xiao Liu’s parents contacted the live broadcast platform several times to explain the situation, hoping to refund the reward of 1.58 million yuan. After being rejected, Xiao Liu’s family took the live broadcast platform to court.

Tian Lei, Judge of Tianjin No.3 Intermediate People’s Court:In fact, network companies should have supervision before, during and after the event. Because the background big data is widely used, we can see the behavior of each user’s reward, some of its laws, time periods and amounts. In this way, we can find the scenes in which minors are mixed.

In the end, after mediation by the court, the live broadcast platform returned 1.58 million yuan to Xiao Liu’s family in full.

The Supreme People’s Court makes it clear that if a minor participates in online paid games or "rewards" on the live webcast platform without the consent of his guardian, and the guardian requests the Internet service provider to return the money, the people’s court shall support it.

Seven departments, including the National Network Information Office and the Office of the National Working Group for Combating Pornography, also jointly issued the Guiding Opinions on Strengthening the Standardized Management of Webcast, which requires that the Webcast platform should strictly prohibit the provision of network anchor account registration service for minors under the age of 16, and should not accept the recharge and reward of minors without the consent of their guardians. At the same time, it is clear that if minors use adult accounts to reward, they must be refunded according to regulations after verification.

Gao Qingyun, Deputy Director of the Office of the National Working Group for Combating Pornography and Illegal Publications:In order to promote the effectiveness of network seedling protection, the next step is to prevent minors from being addicted to the Internet, urge major Internet platforms to implement the youth model, focus on the network application fields that minors often contact, such as online games, live broadcasts, short videos, online social platforms, online animations, etc., and carry out special rectification to clean up bad information more effectively and purify the network environment.

The well-known anchor was reprimanded for disturbing the people late at night, and the female neighbor rushed into his house! I respond

According to the city express, late last night,Chen Ze, a well-known game anchor, clashed with his neighbors during the live broadcast. The neighbors loudly reprimanded Chen Ze for disturbing the people every day, and then rushed into his home.

Subsequently, Chen Ze Weibo’s account @ Mushroom Mushroom did not send a message to respond to disturbing people:

image.png

image.png

At five o’clock in the morning, Chen Ze replied to the netizen: Don’t talk nonsense, it’s better to have more public figures than less … …

image.png

Early this morning, related topic words rushed to the top of hot search.

image.png

In this regard, someNetizen saidUnderstand the neighbors, now the house is not sound-proof, and the live broadcast really disturbs the people.

image.png

Zhang Cheng 0227: Actually, the anchor is really disturbing the people. Now the house is not soundproof, and the live broadcast is just at night. Everyone will collapse when they go to work during the day and live next door at night. You can change the time, or change the room like the video said. Neighbors can do this probably because negotiations have been ineffective for a long time. What’s more, he is a big anchor.

Sleepy or don’t want to sleep: I understand this neighbor too well. I can also hear a man broadcast live every night, and it is noisy at 11 o’clock every night until the early morning.

Line draft: Noise disturbing people deserves to be scolded! These anchors are so loud when they are broadcast live. Can you stand it if it were you?

I really don’t want to cut my hair: you can’t do whatever you want just because you are online celebrity, but you still have to respect the routine of ordinary people!

Fat man Wen Na: The sound insulation in the building is really bad now, and neighbors are excusable for being too noisy.

Some netizens also said,We can’t just say that the live broadcast disturbs the people, and it’s not right for neighbors to break into houses privately. I hope both sides can solve it peacefully.

Xiao Qingmei 9213: However, it seems bad for that neighbor to break into a house … …

Eat a chestnut in Tian Tian _ Tian Jiarui’s handsome version: It’s not right to disturb the people, and the other side has problems. I hope both sides can solve it peacefully.

I don’t know whose child it is: first of all, we should check whether his voice is loud in the recent live broadcast, let the police decide whether it is disturbing the people, and then deal with the problem of neighbors breaking into houses.

image.png

Original title: The well-known anchor was reprimanded late at night, and the female neighbor rushed into his house! I respond

Editor: Yang Hong Editor: Wu Zhonglan Audit: Feng Fei

Using Tik Tok, Aauto Quicker and other fraud cases, the police frequently reminded the public to be vigilant

　　Nowadays, audio-visual websites such as "Tik Tok", "Aauto Quicker", "Volcano" and "Watermelon Video" have sprung up rapidly, attracting a large number of netizens to participate in the interaction, and many criminals are also involved in it, frequently making moves. Recently, our province has also received many cases of fraud using the above-mentioned audio-visual websites. In this regard, Jiangsu police reminded the public that this kind of fraud has a large audience, wide spread and strong confusion. Netizens should raise their awareness of prevention and protect the safety of personal property.

　　Correspondent Changgong New Yangzi Evening News/Yangyan reporter Yu Yingjie

　　Using video

　　These three types of fraud cases are frequent.

　　Changzhou police made a special analysis of fraud cases on audio-visual websites and found that the following three categories of fraud cases are more prominent.

　　A, birthday celebration, lovelorn red envelope rebate category

　　[Case 1] Liu fell in love with Tik Tok and added a WeChat friend through Tik Tok. On September 9, he saw this friend in a circle of friends who was engaged in red envelope cashback activities, so he chatted with him. The other party said that there was a fan feedback activity with red envelopes, which was "transfer to 50 yuan and return to 55 yuan and other grades, and each person can play for up to three times". Liu believed it, transferred 4950 yuan to the other party through WeChat, and later found that he was cheated.

　　[Case 2] On August 27th, Qin met and joined a QQ group of online celebrity’s birthday red envelope party through Tik Tok. When he saw a man nicknamed "Brother", he claimed that 300 yuan could get a rebate of 3,888 yuan for sending red envelopes, so he added the other person’s WeChat as a friend and sent red envelopes through WeChat, and was cheated by 1000 yuan.

　　[Case 3] On August 24th, Wei met a netizen from Tik Tok and added the other person’s WeChat. The other person said in the WeChat circle of friends that "he was dumped and got a breakup fee of 1 million yuan. If someone sent 200 to 10,000 yuan, he would return it 10 times". Then Wei transferred 888 yuan to the other person through WeChat, and later found that he was blacked out by the other party.

　　B. Fake products sold in Wechat business

　　[Case 1] On September 6th, Gongmou saw a online celebrity blogger recommend cosmetics worth 198 yuan in Tik Tok. Gongmou believed that WeChat transferred 1188 yuan and was cheated.

　　[Case 2] On August 29th, Xu met a netizen through Tik Tok and added the other party’s WeChat. The other party said that he would get a chance to roll the dice if he bought a slimming product of 298 yuan. According to the request of the other party, Xu transferred a total of 5,000 yuan through WeChat, but did not receive the product and found that he was cheated.

　　[Case 3] On August 17th, when Meng used Tik Tok, he saw a message that there was a low-priced mobile phone for sale, so he added the other party as a WeChat friend. The other party said that Apple X, OPPO and other mobile phones only cost 198 yuan, and Meng paid 198 yuan through WeChat. The other party said that it was necessary to go through customs, pay customs duties, etc., and Meng made a total transfer to 800 yuan through WeChat payment. Later, the other party also asked for a transfer, and Meng realized that he had been cheated.

　　C, praise fans, buy and sell Tik Tok accounts.

　　[Case 1] On August 28th, the swindler said that he could help people to brush the praises on Tik Tok. After contacting him, Miao believed it, and provided his own WeChat payment verification code according to the request of the other party. As a result, he found that 6700 yuan in his WeChat was transferred away by the other party.

　　[Case 2] One day in July, Zhu bought a Tik Tok account for 10,000 yuan on the virtual asset trading service platform of "YuZhao.com". At the beginning of September, the seller contacted Zhu and said that someone wanted to buy the Tik Tok and invested 16,000 yuan. After discussion between the two parties on September 5th, Zhu agreed to sell Tik Tok’s account to the other party. Subsequently, the other party successfully tied the mobile phone number to the Tik Tok account, but the other party did not transfer 16,000 yuan to Zhu, but deleted Zhu’s WeChat.

　　Like to follow suit

　　Young people who are inexperienced are easy to be recruited.

　　After analyzing the above-mentioned cases, Changzhou police found that most of the targets targeted by criminal suspects are young people who are inexperienced, have poor preventive ability, like novelty and like to follow suit.

　　In terms of the modus operandi of these fraud cases, criminals take advantage of the victim’s curiosity and greed, and constantly attract fans through the newly popular "Tik Tok", "Aauto Quicker" and "Watermelon Video" apps, asking the deceived to pay by scanning the QR code, issuing red envelopes, transferring money, etc. Once the money is defrauded, the victim will be blacked out immediately.

　　Police tips

　　Don’t trust marketing videos

　　At present, short online videos are very popular among netizens, and the number of video views is tens of thousands. However, due to the short video time, vague background and fragmentary information, some lawless elements also blend in and take the opportunity to commit fraud.

　　The police reminded the majority of netizens to improve their awareness of self-prevention, not to trust videos with marketing, money and other properties on short video platforms such as "Tik Tok" and "Aauto Quicker", and not to transfer money and remittances to the other party easily. If you find that you have been cheated, you should call the police immediately.

Aauto Quicker announced the third quarter report card： the domestic business was profitable for two consecutive quarters, and the monthly active users exceeded 620 million.

On November 22nd, Aauto Quicker Science and Technology released its results for the third quarter of 2022, and its total revenue increased by 12.9% year-on-year to 23.1 billion yuan, which was higher than the consensus forecast of 22.56 billion yuan by Bloomberg. Thanks to the steady growth of revenue, the optimization of gross profit margin and the continuous improvement of users’ acquisition efficiency, Aauto Quicker’s domestic business achieved single-quarter profit for two consecutive quarters. In the third quarter, the domestic operating profit exceeded 375 million yuan, a nearly three-fold increase from the previous quarter.

Through refined operation management strategy and abundant content supply, the user scale of Aauto Quicker applications continued to grow in the third quarter. DAU increased by 13.4% year-on-year to 363 million, and MAU increased by 9.3% year-on-year to 626 million, both of which exceeded historical highs. With the strengthening of social interaction and trust atmosphere on the platform, the number of users who care about each other reached 23.5 billion pairs, a substantial increase of 63.1% year-on-year.

Cheng Yixiao, founder and CEO of Aauto Quicker Technology, said, "Looking ahead, we will further promote the integration of users, content and commercialization ecology, and create more value for users, content creators, advertisers and businesses. Relying on the strong carrying capacity of short video+live broadcast, we will continue to innovate, create new scenes, new opportunities and new models, promote the integration of digital and real, and strive to create long-term value for shareholders while bringing social and economic benefits. "

The average DAU in the third quarter reached 363 million, a record high.

For content-based platforms, summer vacation is usually a critical period for customer acquisition and growth. In the third quarter, Aauto Quicker seized the peak season of users’ growth, and continuously enriched users’ consumption content and experience through refined operation management and efficient customer acquisition means and continuous iterative optimization of algorithm model.

The data shows that the average DAU (daily active users) and MAU (monthly active users) in Aauto Quicker both broke through historical highs: the domestic average DAU increased by 13.4% year-on-year to 363 million, and the MAU increased by 9.3% year-on-year to 626 million. The number of monthly users increased by 39 million in a single quarter, which also set the biggest quarterly net increase this year. With the continuous strengthening of social interaction and trust atmosphere on the platform, the number of users who care about each other reached 23.5 billion pairs, a substantial increase of 63.1% year-on-year.

In terms of content ecology, Aauto Quicker continues to expand diversified short video and live content supply. In this summer’s summer file, 22 of Aauto Quicker’s top-quality short plays have achieved a broadcast volume of over 100 million, and such explosive high-quality short plays as Family Realistic Works "Parenting Battle", "Jingweier" sitcom "Hutonger" and doctor’s professional short play "Benevolence" have emerged, achieving new breakthroughs in theme expansion and marketing play. In terms of homemade variety shows, "Let’s go! The launch of word-of-mouth programs such as "Mom" and "Sounds like Summer Flowers" has created a new operation mode of "long video+short video+live broadcast", bringing users a brand-new content consumption and interactive experience. In the sports content section, in September, the village BA of "Country Basketball Champions Cup" jointly created by Aauto Quicker and NBA started in full swing, with a total audience of 120 million, further promoting the popularization and deepening of basketball in rural China.

In overseas markets, in the third quarter, the usage time of single DAU users remained at a high level of over 60 minutes. On the basis of investment control and ROI-driven growth, overseas users maintained efficient and healthy growth. Aauto Quicker said that Kwai’s differentiated content strategy has achieved initial results in the creation of users’ minds. "We hope to further enrich the content ecology by establishing a wider category of content, and establish a positive circulation mechanism for content production, consumption and creators’ realization."

Domestic business achieved profit for two consecutive quarters, with Q3 revenue of 23.1 billion yuan.

While achieving high-quality growth, Aauto Quicker has further consolidated its liquidity.

After achieving the single-season profit target of domestic business ahead of schedule in the second quarter of this year, the operating profit of domestic business Q3 exceeded 375 million yuan, an increase of nearly three times from the previous month. In the third quarter, Aauto Quicker continued to deepen the construction of business ecology, and its revenue performance was steady. The total revenue increased by 12.9% year-on-year to 23.1 billion yuan, which was higher than the consensus forecast of 22.56 billion yuan by Bloomberg. Among them, online marketing services (advertising), live broadcast and other services (including e-commerce) accounted for 50.1%, 38.7% and 11.2% respectively.

Online marketing service revenue reached 11.6 billion yuan, up 6.2% year-on-year, which is the highest single-season revenue since this year. In the third quarter, the number of monthly active advertisers in Aauto Quicker increased by more than 65% year-on-year through multi-channel introduction of advertisers and policy support. In terms of brand advertising, relying on customized investment projects, we will explore a brand marketing model that fits advertisers’ individual needs and Aauto Quicker’s content ecology, dig deep into the marketing value of talent, and match the traffic advantage behind talent with the brand’s demand for traffic more efficiently. At the same time, Aauto Quicker continues to strengthen the construction of advertising infrastructure, subdivide and focus on vertical industries, open up internal and external circulation, improve the core competitiveness of products, further tap users’ commercial interests, and accelerate the establishment of a positive cycle of user content ecology and commercial ecology.

E-commerce business achieved the performance of exceeding the industry growth level in Q3, and continued to gain market share. In the third quarter, Aauto Quicker e-commerce GMV increased by 26.6% year-on-year to 222.5 billion yuan.

Relying on the advantages of flow and efficiency, as well as the continuous improvement of investment policies, Aauto Quicker continues to attract more businesses to settle in, and the number of newly opened businesses has increased by nearly 80% year-on-year. At the same time, more efficient traffic distribution and more accurate matching strategy of people and goods further improved the conversion efficiency, and the number of new mobile merchants in Q3 increased by high digits year-on-year.

By expanding more industries to bring good goods and brands, and improving infrastructure construction such as logistics, Aauto Quicker will further enhance the user’s buying experience. In addition to the live broadcast scene, the penetration rate and conversion rate of e-commerce in Aauto Quicker continued to increase by expanding short videos and planting grass. The monthly active buyers of e-commerce exceeded 100 million, and the repurchase rate of users increased by about 1.1 percentage points year-on-year. From the analysis point of view, from the transaction between live broadcast rooms to more shopping contacts, short video planting grass can stimulate the mind and play a role in satisfying the "uncertain demand" of shopping; Strengthening store management can meet the "definite demand" of users and give businesses a longer-term management matrix.

In the overseas business segment, Q3′ s total revenue was 189 million, up about 83% from the previous month and more than 8 times year-on-year. In terms of liquidity, overseas commercialization departments continue to optimize their product and service capabilities, and online marketing service revenue has grown rapidly; By improving the ecological construction, deepening the cooperation with guilds, the live broadcast department can improve the content quality and enrich the supply at the same time, and combine the operation activities in different regions to promote the continuous growth of live broadcast revenue. In the financial report, Aauto Quicker pointed out that we should strive to improve the operational efficiency of overseas business and gradually establish the profitability of overseas business through the simultaneous way of increasing revenue and reducing expenditure.

In the third quarter, the overall adjusted net loss of Aauto Quicker was 670 million, a decrease of 640 million compared with the previous quarter, and the adjusted net loss rate narrowed to 2.9%, an improvement of nearly 20 percentage points year-on-year. Sales and marketing expenses decreased from 11 billion yuan in the same period last year to 9.1 billion yuan, accounting for 53.8% of revenue to 39.5%. After listing, the ratio was lower than 40% for the first time. While the ratio of sales expenses to revenue decreased, the overall traffic of Aauto Quicker still maintained rapid growth.

Deepening live broadcast+ecological scene to build inclusive digital community

As a digital community with inclusive background, high interaction and strong participation, Aauto Quicker is becoming the entrance of digital life for ordinary people. The content community built by short video and live broadcast connects all walks of life to meet the diverse needs of users such as learning, entertainment, shopping, local life and employment, and is deeply integrated with all walks of life.

In the third quarter, Aauto Quicker continued to deepen the extension of the ecological scene of live broadcast+,and provided users with richer live broadcast content through products such as quick employment, ideal home and quick marriage, so as to meet the service needs of users in more scenarios.

Take the quick employment business as an example. In the "Golden September and Silver 10" recruitment season, Aauto Quicker successively launched special recruitment sessions for service industry and manufacturing industry, which promoted blue-collar employment in the form of "live broadcast with posts", attracted nearly 70 high-quality enterprises to participate, and helped service industry and manufacturing enterprises solve the recruitment problems. In the field of real estate, Aauto Quicker Ideals has gradually formed a new real estate brokerage model of "real estate anchor promoting new house transactions", and has opened up a full-link process from real estate live broadcast to customer acquisition, user clue collection to taking a look at the transaction of real estate and commission sharing, and tapped and supported a group of high-quality creators in the real estate field through the "Wheat Plan".

According to the data disclosed by Aauto Quicker at the Photosynthesis Conference, in June 2022, the number of ten thousand powder creators on the platform exceeded 2 million. Among the creators who released their works in Aauto Quicker in 2016, the proportion of ten thousand powder creators and one hundred thousand powder creators who are still actively publishing their works today exceeds 70% and 80%, respectively, and the active proportion of millions of powder creators reaches 94%. From "continuous creation" to "continuous management", Aauto Quicker has become a platform for more and more creators to realize their value, which has also injected a steady stream of vitality into the prosperity of community ecology in Aauto Quicker.

Destined not to be cheap! Xiaomi Auto Confirmed： High-end configuration has everything.

Xiaomi’s press conference is never boring, thanks to Lei Jun’s interesting speech.

I thought that Xiaomi’s trip was to share the technical details about Xiaomi’s car. Lei Jun, who first suppressed and then promoted, always brought unexpected things. On the one hand, the popularization of new energy vehicle technology is easy to understand, and Mr. Lei has brought the "pre-release" of Xiaomi’s first model SU7 without stint.

Even if the new energy vehicle market is seriously involved, Xiaomi is under great pressure, and Lei Jun in the speech still smiles with confidence.

You can’t give too many surprises. Xiaomi’s brand is not much different from that of traditional car companies. The price that everyone wants to see most is naturally absent, and a press conference can’t be finished.

Even if there is no price, the content of Xiaomi Automobile Technology Conference is worth taking out and talking about.

When the super motor arrived, the latecomers also had great ambitions.

In order to make it easier for us to understand the system engineering of electric vehicles, Lei Jun divided the technology of Xiaomi Automobile into five parts.

The core technology of the fuel vehicle era is the engine, and when it comes to new energy vehicles, it is the motor. Xiaomi’s two brand-new super motors made their debut, namely V6 and V6s, both of which can reach the maximum speed of 21,000 rpm. The reason why it is called V6, Lei Jun thinks it can be compared with V6 engine in the fuel car era.

It is not unusual for a motor with 21,000 rpm to be put into use today. The high-performance motor carried by Krypton 001 FR can "overclock" the maximum speed to 24,000 rpm. Lei Jun was puzzled by "being cut off" and admitted that this was the direction of the industry, but he still found the answer of "far ahead".

Higher peak power and greater torque are the "kings".

Lei Jun said that Xiaomi Automobile has a more powerful "V8s" super motor in the pre-research, and its maximum speed reaches 27,200 rpm. A single motor module can provide power comparable to the V8 engine, with a peak torque of 635 Nm and an efficiency of 98.11%.

This "horrible" motor will land in 2025, but Xiaomi has bigger ambitions.

"Cake painting" is a common phenomenon in the automobile industry. The release of a car is divided into several steps, and there is also a certain period from finalization to delivery. Lei Jun believes that pre-research is an important measure of technical reserve and has to be done. In addition to the V8-comparable motor, Xiaomi also has a super motor based on carbon fiber laser winding technology. The speed of laboratory test has exceeded 35,000 rpm, but it will take some time for mass production to land.

As a latecomer, Xiaomi Automobile has spared no effort in technical reserve, improved motor technology through self-research, and its book data is ahead of its peers, which is the most intuitive performance that consumers can feel. We don’t know the actual performance, and the means of Xiaomi roll parameters are well known in the field of smart phones.

At least, Xiaomi has won Tesla and Porsche from the perspective of parameters.

Self-developed battery in place, durable and safe.

Power battery is the cornerstone of electric vehicle, and it is also one of the core components.

Xiaomi can’t research batteries by himself, but the battery pack has the ability to research independently. The power battery on Xiaomi’s first model is the result of two years’ cooperation with the world’s leading battery suppliers. Of course, it also supports the mainstream 800V high-voltage platform, and the highest peak voltage reaches 871V V. Lei Jun smiled and said that this should be called "quasi-900V".

He also used this to ridicule a wave of "industry status quo". He revealed that as long as it is 500V and 600V, it can be called "800V" on the table. In contrast, he wants to make products honestly.

CTB integration technology is a highlight of Xiaomi’s self-developed battery pack. This design can integrate the battery pack with the automobile chassis, on the one hand, improve the strength of the whole vehicle structure, on the other hand, reduce the thickness of the bottom plate and leave space for the cockpit.

Improving the battery volume utilization rate and greatly reducing the number of wire harnesses have significant advantages for the battery life and safety of Xiaomi automobile. Lei Jun revealed that the battery capacity of Xiaomi’s first car is as high as 101kWh, and the cruising range can reach 800 kilometers, which has both long battery life and fast charging.

Thanks to the advantages of platformization, Xiaomi’s self-developed battery pack can theoretically achieve a capacity of 150kWh and its battery life can be increased to 1260 km. However, the biggest problem with ultra-large capacity batteries is the cost and difficulty in mass production. Lei Jun also admitted that the cost price of such a battery should be at least 100,000.

Of course, the battery pack also has other results brought by Xiaomi’s self-research. The battery cell inversion technology is the first in the industry. After the battery cell is hit, it can quickly release energy to the ground, minimizing the negative impact of thermal runaway. At the same time, Xiaomi also added 165 pieces of aerogel insulation materials to the battery pack, and with a series of safety measures, the safety factor of Xiaomi battery pack was several times higher than the industry standard.

As a newcomer to the car track, Xiaomi’s definition of the first car is advanced enough. Starting from the 800V platform, CTB integrated battery pack technology is the mainstream development direction of electric vehicles in the future. Considering the discount of winter battery life, Xiaomi also came up with his own solution.

High-efficiency dual-mode heat pump technology is an improvement of Xiaomi’s heat pump. In the bad weather below zero, it can take into account the heating of the battery and the cockpit at the same time, so as to keep the battery in the best working condition at all times, thus alleviating the trouble of battery life discount.

Late entry has the advantage of late entry, the most obvious of which is "less detours". The new forces who joined the ranks of car-making before have found out the way for these latecomers, and they have reduced the cost and time wasted in many exploration processes. Xiaomi Auto has proved itself with various advanced technologies. Even if it is a new player, its technical content is no less than that of its peers, and it also has mature solutions.

It is obviously the right choice to dispel consumers’ doubts about Xiaomi Automobile from the technical force.

Super die casting, the future of the automobile industry.

Xiaomi is one of the few Internet companies that build cars by self-built production lines, and will have its own factory to produce battery packs in the later period.

Therefore, Lei Jun specially spent some time to introduce the breakthrough of Xiaomi Automobile in production line technology.

Die-casting technology is the representative of the industrial level of car-making enterprises. Lei Jun said that at present, the die-casting machine of Tesla American factory has a clamping force of 9000 tons. Xiaomi’s super-large die-casting equipment cluster, the locking force is one level ahead of Tesla, reaching 9100 tons.

Nine processes, 60 equipments, 433 process parameters, 840 square meters of floor space and 1,050 tons of total weight are the most intuitive parameters of Xiaomi Super Die-casting Equipment Cluster. This is more indicators that Xiaomi can come up with besides the clamping force, which seems to ridicule a wave of colleagues who only roll the clamping force.

Greater clamping force means that Xiaomi can manufacture die-casting structural parts with higher structural strength and more precision, and can also integrate more parts through integral die-casting in exchange for higher strength and lower production cost. However, the maintainable space after high-speed collision is still a big problem faced by integrated die casting. Xiaomi automobile, which is determined to redefine the future automobile industry, believes that it also has its own set of solutions.

After all, electric vehicles are highly dependent on integration. The higher the integration, the more space they give users, and more places can be reserved for high configuration.

What is the finishing touch to the safety of Xiaomi automobile should be Xiaomi Titan alloy. Lei Jun introduced that this is Xiaomi’s ability to find the best formula from 10.16 million schemes with the help of AI, and called it Titan alloy. With Xiaomi’s advanced production line, it can be said that the structural safety of Xiaomi automobile is no longer in doubt.

All this is also the result of Xiaomi’s painstaking efforts.

Intelligent+intelligent driving, laying the "moat" of Xiaomi automobile

Mobile phone manufacturers are best at interaction and intelligence, and Xiaomi has a natural advantage in this field.

We got the answer from the existing smart cockpit solutions in the market. They have more experience in the field of smart cars than traditional car companies, know how to build an efficient and practical interactive system, and use their own intelligence and ecology to open up a track different from traditional car companies.

Whether it is intelligent cockpit or intelligent driving, Xiaomi chooses full-stack self-research and uses intelligent algorithms to create the "hardest spear" for Xiaomi car. For the field of intelligent driving, Xiaomi has launched "Zoom BEV", "Super-resolution Occupancy Network" and "Road Large Model". There is only one result of the combination of the three-very cow.

"Zoom BEV" enables vehicles to have the same ability as human eyes, adjust the focal length for different scenes, and can "see accurately" on narrow roads and "see far" on high-speed roads. Lei Jun made a big show at the press conference. Xiaomi SU7 can accurately park in a very narrow mechanical parking space, and its technology is comparable to that of an old driver.

"Super-resolution occupation network" and "road large model" are technologies to enhance the cognitive ability of the system, which enable Xiaomi to judge the small bullying obstacles on the road more accurately, and carry out AI correction on some parts that are wrongly identified to enhance the vehicle’s cognitive ability.

At the press conference, Lei Jun also showed everyone the intelligent driving strength of Xiaomi Automobile.

Lei Jun said that the mechanical quality of domestic cars has reached a high level. Armed with intelligence in every corner of the car, relying on software to define the chassis and enhancing the car’s ability through OTA are the outstanding points of domestic smart cars. Some peers, Xiaomi is doing better, and what peers don’t have, Xiaomi can take it out.

The intelligent cockpit is the home of Xiaomi. Lei Jun said at the press conference that Xiaomi SU7 will be equipped with a "Pad" class car screen with an amazing resolution of 3K, and it has achieved "leading generation" in the degree of freedom of touch, hand and car linkage and animation display.

Then, the industry’s first "120Hz", will it happen on Xiaomi car?

Xiaomi’s mobile phone gives the on-board 澎湃 OS a higher upper limit. On the one hand, it allows the car to directly call the App on the mobile phone. With the silky split-screen design, the flexible experience is a "dimensionality reduction blow" to traditional car companies. Thanks to the 8295 chip, Xiaomi can drive more display screens, including connected tablet computers.

Of course, Apple users can also have a good experience.

By the way, Xiaomi has also developed a special interface standard for cars, which allows vehicles to connect to a large screen and even add a row of physical buttons. With the gradual improvement of Xiaomi CarIoT, I believe that Xiaomi Automobile can become more flexible and practical by relying on this set of interface standards.

Here, the first half of Xiaomi Auto Technology Conference is over.

Xiaomi SU7 "pre-released", to be a "future classic"

"The classic image in the history of automobile manufacturing is still a car", which is Lei Jun’s consideration of Xiaomi’s first car.

Lei Jun always likes to give us small surprises. When warming up, he said, "Only technology is released, but no products." As a result, the second half of Xiaomi’s auto technology conference was the world premiere of Xiaomi’s first car SU7.

Careful people may find some "eggs". Two Xiaomi SU7s who came to the scene did not have an operator in the driver’s seat, but went on stage by themselves, which was quite interesting for the intellectual S7 to appear on the stage, and also made a wave of advertisements for the intelligent assisted driving of Xiaomi Automobile.

At the beginning of Xiaomi SU7 exposure, the capable and avant-garde design attracted many people. The lines of Porsche Taycan (parameter picture) are not in line with the mainstream design language, which may not look good at first glance, but Lei Jun hopes to have a design that can stand the test of time and stimulate people’s driving desire.

To this end, the design lineup of Xiaomi SU7 is extremely luxurious, and many of the design teams are former BMW chief designers.

The semi-hidden door handle with full practicality is less "ceremonial" and more "light" for opening the door. Even so, the drag coefficient of Xiaomi SU7 is controlled at 0.195cd, which is the top level in the automobile industry. Lei Jun’s statement is also very simple, not because the doorknob is frozen in winter, but because the hidden doorknob is often put away, so it is not easy to clean it at ordinary times.

Chris bangle, one of the top ten most famous car designers in the world, believes that Xiaomi SU7 is not over-designed.

If the design of this car can be regarded as a representative for more than ten years or even decades, it will become a classic in the future. Just a design is enough for Xiaomi to spend more space to introduce.

But good-looking is only the "first impression" of Xiaomi SU7, and good-looking design is not enough to support the three-dimensional sense of the product. Lei Jun has repeatedly stressed that SU7′ s products are very powerful, not 99,900 yuan and 149,900 yuan.

At the scene, Lei Jun announced two versions of SU7, but mainly the "Max" version, equipped with dual motors, with a maximum output of 673 horsepower and an acceleration of 2.78 seconds. The cruising range is 800 kilometers, and it has dual Orin chips and customized lidar. At the same time, SU7 also has the largest front reserve box capacity at present, with a full 105 liters, which is enough for fishing enthusiasts to "take off in situ".

Moreover, Xiaomi has made its multi-device ecological moat more extreme. SU7 can not only be linked with Xiaomi’s mobile phone, but also establish contact with more IoT devices through Mijia Ecology.

The price of the standard version may have a good price, but it is far from the configuration of the Max version. I wonder if a compromise version will be launched in the future. The Max version of the product is very powerful, and the actual price may not be low. This will have to wait for the first half of next year, and Lei Jun will answer it for you again.

Lei Jun’s "last step" has no retreat.

"This is the last time in my life to start a business. Xiaomi Auto has taken this step and can’t go back."

It has been 1003 days since Xiaomi officially announced the construction of the car. Lei Jun didn’t have many exciting stories at the end of the press conference, and he didn’t have the firepower to mark friends. He just said that Xiaomi had redoubled his investment to do a good job in the automobile business. Obviously, SU7 is a beautiful start for Xiaomi’s automobile business and a perfect turn for Xiaomi.

Without a solid reputation and profound automobile manufacturing background, it is more difficult for internet companies to step out of the comfort zone and enter the automobile manufacturing track than ordinary car companies. The new forces that challenged the traditional automobile industry have also experienced such challenges, so it is not difficult to understand why Xiaomi should pay tribute to these "pioneers".

However, the Internet brand represented by Xiaomi has the colors needed by smart cars. Electrification, intelligence, deep integration between cars and smart phones, efficient interaction between intelligent cockpit systems, and advanced intelligent assisted driving systems ….. all these have more desirable experiences in Internet companies.

These characteristics are not available to traditional car companies, and it is even more difficult to catch up in the short term.

The technical conference of Xiaomi Automobile was very long. During the whole three hours, Lei Jun brought us a lot of dry goods about Xiaomi Automobile. The core of the technical conference was to show the strength of Xiaomi Automobile to the outside world and meet the expectations of potential customers. After 15 to 20 years of hard work, Xiaomi has become the top five automobile manufacturers in the world. In this increasingly prominent automobile market, Xiaomi has its own self-confidence and pursuit.

By the way, Lei Jun also became a "lecturer" on new energy vehicles, popularizing a wave of parts and technical principles of electric vehicles. The popularization of knowledge may also be integrated into the service chain of Xiaomi Automobile.

In Lei Jun’s view, the future car should be a beautiful, easy-to-drive, comfortable and safe "mobile smart space". Can Xiaomi car, which started the revolution, be the protagonist of the "Smart Car 4.0" era?

In the last few days of 2023, Xiaomi made people remember with the biggest stride in its historical process. SU7′ s next appearance should be at a major international auto show next year. We are still looking forward to the final price of SU7. After all, in the field of mobile phones, the stacking and pricing of Xiaomi has always been very conscientious.

Lei Jun’s "Dream Car" has arrived, so is SU7 the "Dream Car" beyond Porsche and Tesla in the mind of rice noodles?

The pace of policy boosting consumption recovery is expected to accelerate.

　　Affected by the state’s measures to boost consumption, on the 19th, the big consumption sector "rose by the wind", with household appliances, leisure services, food and beverage sectors among the top gainers. The agency believes that the pace of consumption recovery is expected to accelerate as the policy continues to be effective and the market continues to repair. Among them, the optional consumption sector maintained a good momentum of prosperity in the fourth quarter with a high probability, and the annual performance was highly certain.

　　The big consumption sector "rises with the wind"

　　On 18th, the the State Council executive meeting proposed to promote the consumption of home appliances and furniture, and on 19th, the home appliance sector strengthened obviously. Straight flush data shows that as of the close of the day, the household appliance industry index rose by 3.33%, ranking second in the increase of Shenwan first-class industry index. 70% of the stocks in the sector rose, among which Julong Technology and Whirlpool had daily limit, Wanhe Electric, Changhong Huayi, Hisense Home Appliances and other stocks rose by more than 5%, and Midea Group, the industry leader, rose by 5.27%.

　　Bank of China Securities believes that in the short term, the prosperity of mandatory home appliances will continue to rise, and the demand side will be good next year, and the valuation is relatively reasonable. In the long run, the completion logic is expected to return again, driving the demand of the home appliance industry to make up; At the same time, the advantages of low cardinal utility in the white electricity and kitchen appliances sectors are obvious, and the trend of industry prosperity recovery is relatively established; After the economy gradually recovered from the impact of the epidemic, the recovery of consumption power was mainly reflected in the increase in the demand for diversified household appliances in a long period after the completion of the consumption of compulsory household appliances.

　　At the same time, the Standing Committee of the State Council made clear a number of measures to support the development of "internet plus Tourism" and pushed the leisure service sector higher. On the same day, the leisure service industry index rose by 2.78%, and 27 of the 37 stocks in the sector rose.

　　The auto sector, which had been rising for two consecutive days, opened higher and went lower on the 19th, and its performance was relatively weak. The automobile industry index fell by 0.62% that day. Among them, Changan Automobile led the decline by 9.31%, while Luchang Technology, InBeor and BYD fell more than 3%.

　　Despite the poor performance of the market that day, institutions are still optimistic about the continuous pulling effect of increasing the number of policies on automobile consumption. Essence Securities pointed out that the regular meeting of the National People’s Congress held on the 18th highlighted three major measures to expand automobile consumption, namely, increasing the number plate index, going to the countryside for automobiles and exchanging old ones for new ones. Among them, all localities are encouraged to increase the number plate index, and the purchase restriction may be further loosened; The resurgence of cars in the countryside will benefit independent brands; The trade-in policy will come out again, and the renewal of old cars is expected to accelerate. Since February, the central government and local governments have successively issued a number of automobile consumption policies. This regular meeting of the State Council once again emphasized the expansion of automobile consumption, which is expected to lead to the introduction of more automobile stimulus policies.

　　In recent months, thanks to the strategy of expanding domestic demand and the continuous efforts of various policies to promote consumption, the automobile market demand has continued to recover and corporate profits have steadily rebounded. According to the latest data of China Automobile Association, in October, the production and sales of automobiles in China reached 2.552 million and 2.573 million respectively, up 0.9% and 0.1% from the previous month and 11% and 12.5% from the same period last year.

　　Optional consumer materials keep the economy up.

　　At present, the recovery rhythm of China’s consumer market has attracted much attention from the market. Some brokers said that the pace of consumption recovery is expected to accelerate due to the continuous strengthening of policies and the continuous repair of the market.

　　According to data released by the National Bureau of Statistics on the 16th, in October, the total retail sales of social consumer goods increased by 4.3% year-on-year, and the growth rate was 1 percentage point faster than that of the previous month. Of the 18 categories of retail sales of goods above designated size, 17 have achieved growth, of which 9 categories have maintained double-digit growth. The head of the Consumption Promotion Department of the Ministry of Commerce said on the 17th that in October, driven by the National Day Golden Week and various consumption promotion activities, the consumer demand of residents was fully released, and the total social output accelerated, showing the great potential, strong tenacity and exuberance of China’s consumer market after the test of the epidemic.

　　However, many institutions have pointed out that the social zero data in October did not exceed expectations. Guotai Junan International said that although the growth rate of China’s total social income in October was lower than expected, it still reflected the sustained recovery of domestic consumption, and the domestic retail industry had stepped out of the haze of the epidemic and continued to improve. According to the analysis of Northeast Securities, although the zero growth rate in October was not as good as the market expectation, it was not bad structurally. There are two main factors that drag down consumption: first, the catering industry is still recovering slowly, which is because residents’ willingness to go out for catering consumption in the post-epidemic era is still relatively low; Second, the consumption of oil and products has dropped a lot, which is caused by the weak international oil price. It can be seen that the impact of consumption is mainly exogenous factors, and from the perspective of economic endogenous demand, consumption in most industries has increased well.

　　"Considering that residents’ income level and residents’ willingness to consume have certain room for improvement, the follow-up residents’ consumption is expected to continue the repair process." The research team of Mingming Bond of CITIC Securities believes that the current growth rate of household consumption is still far lower than the growth rate of disposable income, while household deposits are still at a historical high level, which shows that there is still much room for household consumption to rebound. Considering that with the continuous restoration of the tertiary industry and the continuous effectiveness of the policy of stabilizing employment, there is room for improvement in the income level of subsequent residents and their willingness to consume (corresponding to marginal propensity to consume), and the growth center of consumption during the year is expected to continue to rise.

　　Founder Securities said that from the overall characteristics of the optional consumer sector, the sector valuation system is relatively stable, and the performance fluctuates obviously with the economic cycle. The probability of systematic revaluation of the current sector as a whole is small. On the performance level, with the continuous recovery of China’s economy, the optional consumption sector maintained a good trend of prosperity in the fourth quarter with a high probability, and the annual performance was highly certain. On the whole, the overall performance boom of the optional consumer sector can be maintained at least until the first quarter of next year. It is the main direction in the future to select sub-sectors and individual stocks with sustained and certain performance.