On February 27th, LI released its financial report for the fourth quarter and the whole year of 2022.

Data show that in the fourth quarter of last year, LI achieved revenue of 17.65 billion yuan, and the annual revenue of 45.29 billion yuan, up 67.7% year-on-year, but the operating loss in the same period was as high as 3.65 billion yuan, up 259.3% year-on-year.About every LI sold, the net loss is 27,000 yuan..

At the same time, the gross profit margin rose to 20.2% in the fourth quarter of 2022, butThe annual gross profit margin dropped to 19.4%.In 2021, the gross profit margin was 21.3%, down 1.9 percentage points year-on-year.

In 2022, the company’s operating expenses and R&D expenses were 12.45 billion yuan and 6.78 billion yuan respectively, up by 83.6% and 106.3% year-on-year, and other expenses related to employee management were 5.67 billion yuan, up by 62.2% year-on-year.

By the end of 2021, the number of employees in LI was 11,900, and by the end of 2022, this number had increased to 19,300, with a year-on-year increase of 62.2%.

However, as of the end of the fourth quarter of last year, the ideal book cash flow was still as high as 58.45 billion yuan. For the company, there is not much pressure on future R&D and management expenditures.

It generally takes a long period of loss for new forces to build cars. Even Tesla only turned losses into profits in 2020, and its annual gross profit margin during 2012-2022 experienced repeated fluctuations.

From 7.3% in 2012 to the peak of 27.6% in 2014, it then fell all the way until it stabilized and rebounded in 2020, and remained above 21% for three consecutive years.The gross profit margin in 2022 was 25.6%.

Therefore, the increase in operating losses is not a problem in the short term. It depends on whether the brand can shorten the time of profit through product layout. For capital, long-term interests can be considered, but patience is limited.

For LI, in 2022, it stopped production in Li ONE decisively, introduced L9, L8 and L7 in reverse order, and broke through the 20,000-vehicle mark in December, which also proved the correctness of its product strategy.

If the previous ideal was only individual combat, then the next step was the wolf tactics, and it didn’t give itself too many price barriers, unlike Wei Lai’s rigid high-end work, butThrough the iteration of new products, it gradually penetrated into the market space of 200,000-300,000 yuan..

Why should BYD break through the price bottom line at all costs? The purpose is to take the volume, and then share the total cost based on the general volume, and finally achieve the goal of quick turnover and small profits.

Ideally, to reduce the loss, it is difficult to rely solely on high-end products, and the real volume is concentrated in the range of 150,000-300,000 yuan.

Li Xiang, CEO of LI, once said that it is not a dream to sell 30,000 vehicles a month if the L7 Air version is delivered.

In January of this year, Ideality became the only car company with monthly sales exceeding 10,000 with 15,141 vehicles. The sales of L9 and L8 were hot, and the L7 was scheduled to be optimistic. This is also the reason why Li wants to have the confidence to achieve monthly sales of 30,000 in the future.

Ideally, the analysis of the product array is more accurate, such as the L9 (459,800 yuan) with the highest price, which is aimed at potential customers with sufficient budget and BBA. They hope to experience the fun completely different from the traditional high-end fuel vehicles, and at the same time, the six-seat layout meets the needs of Chinese family travel scenes.

The guide price of L8 is 339.8-399.8 thousand yuan, which is a reduced version of L9, and it is also six seats, but the price has dropped by 60-12 thousand yuan to meet those groups who want to buy L9 but have insufficient budget.

L7 focuses on five luxury SUV markets, with a guide price of 31.98-37.98 million yuan, which is cheaper than L8, making up for the gaps in five markets and directly grabbing customers from Audi Q5L and Mercedes-Benz GLC. This kind of consumers don’t care about six, which is more pragmatic and has limited budget.

But from that ideal background display,LI car owners used the smart big screen for more than 6 hours/week during parking.It also reflects from one side that people who choose LI have a high demand for entertainment functions of new energy vehicles, which is becoming a breakthrough to help new forces rapidly expand their market share.

In addition, the new forces also have great advantages in intelligence. They can rely on large-capacity batteries to achieve rich car experience, which traditional fuel vehicles can’t do at all.

In 2023, for the new forces, the cost of power batteries is expected to be greatly reduced. For example, Contemporary Amperex Technology Co., Limited has launched a half-price cooperation idea for large customers, and LI will be one of the cooperative car companies.

With the improvement of product structure and the initial effect of function optimization, the expenditure on R&D will also decrease in the future. LI is waiting for the mass production of Qualcomm Snapdragon 8295 chip, and the car system experience will be promoted by leaps and bounds.

Full text summary:Under the background of frequent negative news and employees blowing their own dirty linen, it seems that LI’s counter-attack road has not encountered much resistance, and the market of high-end intelligent new energy vehicles is still a blue ocean, which is also the basis for many new forces to dare to burn money. However, this year’s new energy market will usher in a cruel price war. Fortunately, it has not yet reached the high-end market. For new forces, adhering to the product concept of high scarcity and exclusiveness may be the key to avoiding strangulation.

　　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.

On August 29th, 2023, Macheng Technology held the second Macheng Technology Day with the theme of "Run the truck NOA", and shared the innovative practice that Macheng truck NOA (navigation-assisted driving) took the lead in breaking through 50 million kilometers and operating safely without accidents, deeply interpreted the new generation core technology of Macheng truck NOA, and cooperated with Shentong Express and Shentong Express on the spot. Intelligent driving of trucks has entered the stage of large-scale commercialization.

Ma Zheren, founder and CEO of Won Che Technology, said, "Won Che truck NOA has been operating safely for more than 50 million kilometers with zero accidents. Since the end of 2021, Hunche Technology and its OEM partners have successfully mass-produced smart heavy trucks, and Hunche truck NOA has successfully covered the national high-speed trunk lines. Its value of safety, labor saving, labor saving and fuel saving has been widely recognized by head logistics customers, and it has realized the large-scale commercial operation of smart heavy trucks. This is the common achievement of the close cooperation of the truck autonomous driving industry, and has formed a leading position in the world. Through the platform of Suiche Science and Technology Day, we share and discuss the technological innovation and application practice of truck autonomous driving with industrial partners to jointly promote the accelerated development of the industry. "

Ma Zheren, founder and CEO of Yuche Technology

Wei Bingwu, director of Shanghai SME Development Service Center, was invited to attend the meeting. He said that Hunche Technology is one of the key unicorn enterprises in Shanghai, and congratulated Hunche on his achievements in autonomous driving technology and products. The city service center will rely on the "Shanghai Enterprise Service Cloud" as the platform carrier, actively link resources, further do a good job in unicorn cultivation, and empower enterprises in the critical period of growth.

NOA, a winning truck, travels safely over 50 million kilometers, and the commercial value of autonomous driving has been verified on a large scale.

Mache Technology has cooperated with more than 100 shippers and carrier fleets to carry out normalized intelligent heavy truck operation services, with a commercial operation mileage of over 50 million kilometers, covering more than 340 trunk high-speed operation lines in seven core economic zones across the country, with a cumulative shipment of nearly 50,000 times, all of which were completed by a single driver. In the normal commercial operation of intelligent driving heavy trucks for more than 600 days, the automatic driving mileage accounts for more than 90%, which continuously creates significant value for logistics customers in terms of safety, manpower saving, labor saving and fuel saving.

Ayushun, Executive Vice President of Mache Technology

• Security:On Science and Technology Day, Pacific Insurance and Hunche Technology jointly released the industry’s first complete annual smart driving heavy truck insurance data report, which compared the safety performance and accident data of smart driving heavy trucks and traditional heavy trucks in detail. Compared with manual driving, intelligent driving can be reduced by more than 75% in core indicators such as pre-collision warning, lane departure warning and sudden deceleration.
• Save people:NOA, a winning truck, changes the driver from the previous pure manual driving mode to a simple and relaxed safety officer mode, which greatly reduces the work intensity and driving fatigue. Through safe and sustainable single driving, the ratio of people to vehicles has been significantly reduced in various trunk logistics subdivision scenarios such as express delivery, contract logistics, LTL and vehicle-specific lines, and the labor cost can be saved by 20%~50%.
• Save effort:Hunche Technology and Beijing Institute of Technology’s aerospace human factors engineering team introduced aerospace human factors research into truck autonomous driving. After 134 trips of transportation tasks and nearly 120,000 kilometers of drivers’ physical fatigue and psychological fatigue index tests, the results show that compared with traditional truck drivers, the physical fatigue of intelligent truck drivers who use NOA, a well-won truck, decreases by about 35%, and the psychological fatigue decreases by about 11%. This test provides industry norms and standards for human factors research of intelligent truck driving, and fills the gap in the industry. The two sides pioneered a research method for testing the physiological and psychological fatigue indicators of smart truck drivers. The signals of physiological and psychological indicators such as EMG and ECG were collected through wearable skin and ECG modules, and a multi-modal biomathematics model of driving fatigue based on three dimensions of physical load, alertness and cognitive load was constructed.
• Fuel saving:According to NOA commercial operation data of Hunche truck, the fuel saving performance of Hunche intelligent heavy truck is better than the customer’s fuel consumption assessment standard in the core freight flow direction of East China, South China, North China and Central China, and the average fuel saving per 100 kilometers can reach 1-3 liters, which is 3%-7% compared with excellent human drivers. Among them, 30% of the normal operation lines can achieve 7%-10% fuel consumption reduction.

NOA, a winning truck, leads the level of truck automatic driving technology. Its national expressway availability rate is 100%, and the commercial operation coverage rate of expressways has reached 70%. It also overcomes the problems of continuous bends, long downhill, continuous tunnels and lack of RTK positioning signals, and realizes safe and reliable traffic on complex roads. The original fuel-saving algorithm (FEAD) of Hunche Technology has completely surpassed the predictive cruise algorithm (PCC), and achieved lateral control, traffic flow response, global speed planning, and more accurate calculation of load and rolling resistance coefficient, which significantly improved the fuel-saving effect. Aiming at the limitation of heavy truck data transmission, NOA creatively realized the enhanced shadow mode of combining end and cloud, directly purified driving data at the vehicle end, uploaded high-quality data fragments, and formed 550,000 high-value scenes, which were simulated and trained in the cloud data lake. The version update cycle only took 14 days.

Three core technologies in the new stage of NOA for winning trucks

Dr. Yang Ruigang, CTO of Hunche Technology, said that starting from the 50 million km milestone, the automatic driving technology of Hunche truck will accelerate the expansion of the capability boundary, especially: better national road performance, surpassing the higher cognition and smarter decision-making of old drivers, and supporting the OEM to realize more and faster vehicle adaptation. On the Science and Technology Day, Winch Technology comprehensively interpreted the three core technologies in the new stage of NOA of Winch Truck:

• End-to-end network with security fenceEnd-to-end network can significantly improve the performance of autonomous driving, which is a general trend in the industry. However, the traditional end-to-end network is difficult to be applied to real scenes on a large scale because of its lack of interpretability and reliability and lack of security guarantee. Qiche innovatively put forward the "end-to-end network with security fence", which decomposes the traditional end-to-end network into several differentiable sub-networks, establishes an interpretable end-to-end network, and constructs a security fence to restrain it, so as to maximize the use of the intelligence of the end-to-end network and ensure the safety of autonomous driving. At the same time, the Occupancy Grid Map-OGM is used to represent in three-dimensional space, so as to realize the effective recognition of special-shaped objects and complex scenes. In addition, in view of the challenge of heavy truck’s long sensing distance to OGM’s computing power and memory consumption, we have developed an efficient OGM technology, which adopts adaptive granularity and sparse algorithm to reduce computing power consumption by 55% and memory consumption by 70%, and provide users with higher cost performance.

Dr. Yang Ruigang, Won Che Technology

• Won the super driver.NOA, a winning truck, has approached the outstanding drivers of human beings in behavior at present, and even surpassed the outstanding drivers in several key dimensions such as fuel consumption. In order to continuously optimize the NOA performance of Won-Che truck, and achieve a comprehensive transcendence over the old human drivers in driving behavior, Win-Che Technology began to build a Win-Che super driver by combining the massive data obtained from commercial operation and the highly intelligent LLM model. Firstly, the driving behavior and scene data are atomized and subdivided in more than 300 dimensions, such as weather, road material, lighting, road structure, traffic flow, vehicle type and load, and naturally linguistized; At the same time, combining manual labeling and automatic labeling to form positive and negative driving behavior atomic sets, LLM model is fine-tuned, and a general intelligent big model TruckGPT focusing on truck automatic driving is customized. In view of the long tail problem that is difficult to deal with in the contemporary autonomous driving technology, the general intelligence of TruckGPT is used to optimize driving behavior, to build a super driver, and to strive to surpass the old driver in terms of fuel consumption, safety and driving comfort.

• Ma che zhi Jia platform
• In terms of hardware, Manche Technology has designed a new generation of ADCU computing platform for truck intelligent driving system. The new platform provides powerful AI and CPU computing power to meet the needs of trucks for remote sensing and fuel-saving algorithms. In view of the challenge of closed-loop data caused by long-distance weak network and changeable working conditions of trucks, the new platform provides large-capacity storage capacity and data management system, and ensures the success rate of high-value data return to 99.9% through technologies such as data compression and intelligent breakpoint continuous transmission. The new ADCU has also reached the functional safety level of ASIL-B and the information safety level of ISO 21434 certification, which fully meets the harsh operation and maintenance environment of trucks.
• On the platform software level: Penche Technology has developed the core functions of vehicle hardware management, basic functions of system software, functional safety and information safety management, following the design concepts of integrity, universality and standardization. The platform software includes software development packages such as Vehicle Abstraction (VAL), Sensor Abstraction (SAL) and automatic code generation, which greatly improves the research and development efficiency and reduces the adaptation time of NOA, a brand-new truck, to 9-12 months.
• In the aspect of truck EEA architecture: Hunche Nebula architecture has released a new generation of functions, providing more efficient and flexible solutions for OEM and Tier-1 partners. The new generation scheme uses the communication architecture of Gigabit Ethernet, which effectively solves the bandwidth bottleneck of traditional CAN/LIN bus. At the same time, the new generation of Hunche Nebula architecture also provides IASP standardized service library to meet the needs of rapid application of new models and high-performance transformation of old models at controllable cost. The overall scheme realizes full modular software and hardware decoupling, can be split and delivered in multiple dimensions, adapts to the differentiated electronic and electrical architecture of multiple OEMs, and efficiently supports the upgrade of truck EEA architecture.

Mache Technology signed purchase and strategic cooperation agreements with Shentong Express, Zhongtong Express and Debon Express.

At the site of this Science and Technology Day, Science and Technology Co., Ltd., Dongfeng Commercial Vehicle and Shentong Express signed the first batch of 500 smart heavy trucks procurement and strategic cooperation agreements, China Heavy Duty Truck and Zhongtong Express signed the first batch of 200 smart heavy trucks procurement and strategic cooperation agreements, and Debon Express signed the smart heavy trucks strategic cooperation agreement.