[News] With the development of the new energy market in recent years, the technology of electric vehicles and plug-in hybrid vehicles has become more and more mature, and with the support and guidance of local policies for new energy, many consumers who did not intend to start new energy vehicles have changed their previous concepts and have the desire to buy new energy vehicles. This time, we took stock of the new energy vehicles that will be launched in the first quarter of 2018 for you, including, 530Le iPerformance,,, pure electric version, pure electric version and e-Golf.

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●　Ei5

New car features: electric cars have also played a travel model.

　　With the change of users’ demand, the market has attracted more and more people’s attention. In many people’s eyes, electric vehicles represent the trend of power system, and naturally they cannot fall behind the times in terms of car models and shapes. Therefore, Roewe will be popular in Europe and America for a long time, but the station wagon that is in the ascendant in China will be "pushed" to Ei5.

　　Roewe Ei5 inherits its family-style design in modeling, especially the inverted trapezoidal grille on the front face is consistent with Roewe ERX5. This large-size inverted trapezoidal grille has become the symbol of Roewe’s new energy. Below the Roewe LOGO on the front face is the DC fast charging port, and the AC slow charging port is set at the tail of the co-pilot.

　　The taillight style of the new car has the feeling of RX5, but the internal structure of the light group has changed obviously. In addition, the position of the brand LOGO has been replaced by the letter "ROEWE", which is also a more obvious detail change compared with the previous Roewe models.

　　There are not many exaggerated changes in the interior layout, and there are not many signs of new energy. The dashboard adopts the style of pointer+LCD screen, which is slightly worse than the full LCD instrument screen of ERX5. The air conditioning operation area is placed in front of the shift lever, and it is still relatively easy to operate. As for the shift mode, Ei5, like ERX5, adopts knob shift, and the front shift lever can adjust the driving mode and power recovery.

　　Because of the problem of battery arrangement, the electric car easily affects the rear seat space or trunk volume, but Ei5 controls it very well in this respect, and the overall trunk volume is not greatly affected by the battery pack, which shows the advantages of the station wagon.

　　In terms of power, it is equipped with a motor with a maximum of 116 horsepower and a set of ternary lithium batteries. It is understood that the maximum endurance of the car under comprehensive working conditions is more than 300 kilometers. The form is the same as that of, and the front type and the rear torsion beam type are adopted.

　　Editor’s comment:In the editor’s opinion, at this time, SAIC Roewe launched Roewe Ei5 travel electric vehicle, which accurately grasped the current automobile market. At present, station wagons and pure electric vehicles are fashionable products, which can make more young consumers pay more attention to it, and Ei5 successfully seized the first batch of travel electric vehicles. As far as the electric vehicle market is concerned, Ei5 has no direct competitors. Therefore, it is believed that there will be many "crock" fans and electric fans who like it when such a product is launched at this time, in which both electric and travel are hot topics. In addition, the Roewe brand zebra intelligent interconnection system is one of the car networking systems that get good market feedback at present. If the system is also installed on Ei5, its product competitiveness will be further strengthened.

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●　The new BMW 530Le iPerformance

New car features:Pure battery life is 61 kilometers, and the curb weight is reduced by 190kg.

　　Whether it is a brand close to the people or a luxury brand around us, the development of new energy vehicles is the top priority in recent years, and the BMW 530Le iPerformance is the first domestic model of the BMW iPerformance sub-brand, and the new car is expected to be listed in January 2018.

　　In appearance, the design style of BMW 530Le iPerformance is not much different from that of the current 5 Series long version, but many new energy logos have been added in details. The air intake grille is decorated in blue, and the iPerformance family LOGO and eDrive LOGO are displayed on the car body. In addition, the new car still adopts the layout of exhaust pipes with two sides, adding its own sporty atmosphere.

　　The changes in the interior are almost negligible, but the configuration has changed. The tachometer on the right side of the instrument panel has been replaced by a power meter, which can display the charging or discharging of the vehicle. At the same time, an electricity meter has been added to the instrument panel, and the central control panel also displays more vehicle-specific information according to the unique attributes of the vehicle. At the same time, all the advanced configurations on the 5 Series and the 530Le models can be optional, which further enhances the sense of luxury in the car.

　　In terms of power, the new car adopts a combination of 2.0T+ motor, with the maximum power of 126 HP, the combined maximum power of the system of 251 HP and 420 Nm, and the transmission system is still 8AT gearbox. And the new car has a pure electric battery life of 61 kilometers, which is an increase compared with the overseas version of 45 kilometers. The official said that the comprehensive fuel consumption of the car is 1.9L/100 kilometers.

　　Editor’s comment:The launch of BMW 530Le iperformance further enriched the medium and large hybrid vehicle market, but it came a little late compared with the plug-in hybrid version, after all, it has already been listed in China. If 530Le wants to gain stronger market competitiveness, it seems very important to control the price by relying on its domestic identity.

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●　Energi

New car features: pure battery life will reach 50 kilometers.

　　After Japanese, Korean and other brands have introduced medium-sized hybrid vehicles to China, facing the huge market of China, American brands are bound to be unwilling to lag behind. At the Guangzhou Auto Show in 2017, Ford Mondeo Energi was officially unveiled. This Ford Mondeo plug-in hybrid model has always received high attention. Recently, it is reported that Ford Mondeo Energi will be officially listed in March 2018.

　　The appearance of the new car is not much different from that of the gasoline version of Mondeo. The charging port on the driver’s fender is the most obvious sign of the new energy identity of the car. The overall design of the front face shape is the same as that of the gasoline version, except that the air intake grille adopts a grid-like design, and the sharp headlights make the whole front face look more fierce. And at the end, that’s what the fuel version looks like.

　　The interior layout is also the same as the fuel version of Mondeo. The biggest change is that the LCD dashboard of the new car displays a series of electric vehicle data according to the identity of its new energy vehicle.

　　In terms of power, the car is equipped with a plug-in hybrid system consisting of a 2.0L naturally aspirated engine (with a maximum power of 146 HP), a motor and a Ni-Co-Mn ion battery pack. Today, the pure electric cruising range of competing models is increasing day by day. It is believed that Changan Ford will also improve the cruising range of this Mondeo Energi, which is pushed to China, in the pure electric driving mode. It was reported that the pure electric cruising range of the new car is expected to increase from 35km in the European version to 50km.

　　Editor’s comment:Ford Mondeo’s fuel version has won high attention since its launch because of its unique appearance. With the rapid development of new energy, Changan Ford also launched the Mondeo plug-in hybrid model, which not only conforms to the initiative of energy conservation and environmental protection, but also enriches its product line and improves its market competitiveness. At the same time, in the context of the dual-point policy, the development of new energy vehicles is also the most basic requirement. According to Changan Ford’s official statement, all models of Changan Ford will provide new energy versions by 2025.

Xiaomi officially submitted a listing application to the Hong Kong Stock Exchange, which also stirred the Xiaomi concept stocks in the A-share market.

Wind data shows that on May 4th, under the background that the Shanghai Composite Index fluctuated within a narrow range throughout the day, the Xiaomi industrial chain index closed down by 0.81%, and there was no daily limit of Xiaomi concept stocks. Only three concept stocks rose by more than 3%, namely Fenda Technology (002681), Keda (600986) and Su Daweige (300331).

Looking back on May 3rd, the industrial chain index of Xiaomi rose by 3.01%, and the concept stocks Fenda Technology and Anjie Technology (002635) closed at the daily limit, while Changying Precision (300115), Aoshikang (002913) and Jingda Shares (600577) were among the top gainers.

On May 3rd, the concept stocks of Xiaomi industrial chain were among the top gainers. Source: Wind

According to Xiaomi’s prospectus, its revenue composition is mainly divided into four revenue business segments: smart phone, IoT (Internet of Things) and consumer products, Internet service and others. In 2017, its revenue was 80.563 billion yuan, 23.447 billion yuan, 9.896 billion yuan and 716 million yuan respectively, accounting for 70.3%, 20.5% and 8.6% of the total revenue.

"This is our original triathlon business model: hardware+new retail+Internet service." Lei Jun said in the latest open letter that "Xiaomi is an Internet company with mobile phones, intelligent hardware and IoT platform as its core." Judging from the layout of Xiaomi, its eco-chain products cover air purifiers, rice cookers, water purifiers, electric fans, air conditioners and other fields.

According to the previous research reports of various brokers, The Paper found that most institutions believe that Xiaomi’s product matrix has initially taken shape, from mobile phones to the Internet of Things, completing the transformation from startups to technology unicorns.

GF Securities said in the research report that from the "iron triangle" to the Xiaomi ecosystem, Xiaomi has a strong growth momentum and is expected to become an emerging Internet technology force after BAT.

"Driven by manufacturing power, new innovation, Belt and Road Initiative, new retail policy and industrial strategic trends, Xiaomi’s industrial chain as a whole will fully benefit, including the two major benefit chains of’ eco-chain+supply chain’, in the following order: Xiaomi’s eco-chain terminal product manufacturers benefit the most, followed by Xiaomi’s foundry company with a large proportion of business, and finally the supply chain parts company."

Xiaomi ecosystem. Source: Xiaomi Prospectus

Xiaomi ecological chain

In 2013, Xiaomi began to set foot in the ecological chain of the Internet of Things. From the initial mobile phone peripheral products, such as Xiaomi mobile power supply, Xiaomi patch panel, piston earphone, etc., to the later intelligent hardware and daily consumables, such as mi band and air purifier, the business of Xiaomi ecological chain has been growing, involving intelligent hardware, smart home and so on.

According to the statistics of orient securities Research Report, by 2017, Xiaomi has invested in more than 100 eco-chain companies and released more than 200 products.

Southwest Securities believes that the Xiaomi ecological chain has played a "catfish effect" on the industries involved, stirring the industry through cost-effective products, changing the product definition of this industry, reconstructing the industrial chain, and transforming traditional industries by improving efficiency.

"For enterprises in the ecological chain, Xiaomi has a huge user base and can provide sufficient financial support. With relatively mature product methodology and strong supply chain resources, ecological chain enterprises can quickly become bigger and stronger with Xiaomi’s platform."

According to Xiaomi’s prospectus, Xiaomi has built the world’s largest consumer-grade IoT platform, connecting more than 100 million smart devices (excluding mobile phones and laptops). In 2017, according to the number of connections, Xiaomi’s global market share of consumer-grade IoT hardware was 1.7%, followed by Apple 0.9%, Amazon 0.9%, Samsung 0.7% and Google 0.6%.

Xiaomi Eco-chain listed company. Source: GF Securities

Based on the opinions of a number of brokers and the announcements of listed companies, The Paper listed the three most concerned by the institutions.

The concept underlying stocks are for investors’ reference and do not constitute investment advice.

Gongda electroacoustic (002655)

Gongda Electro-acoustic is a manufacturer, service provider and overall solution provider of electro-acoustic technology.

Wanmo Acoustics, Xiaomi’s first eco-chain company, has indirectly become the largest shareholder of electroacoustic. On December 29, 2017, a total of electroacoustic announcements were made, saying that Weifang Hi-Tech, the controlling shareholder, transferred all its 15.27% shares to Aisheng Acoustics at a transaction price of 995 million yuan. After the transaction was completed, Aisheng Acoustics became the largest shareholder of the company.

Wanmo Acoustics, a Xiaomi eco-chain enterprise, holds 100% equity of Aisheng Acoustics. Wanmo Acoustics was founded at the invitation of Lei Jun, and was also invested by Lei Jun’s angel at the beginning of its establishment. Shunwei Capital, a subsidiary of Xiaomi, currently holds 11.3% equity of Wanmo Acoustics. Wanmo Acoustics cooperated with Xiaomi to launch Xiaomi piston earphone, and the total electroacoustic sound also entered the ecological chain of Xiaomi earphone.

According to the 2017 annual performance report released by Diansheng on April 17, its net loss in 2017 was 175 million yuan, and its profit in the same period last year was 18,008,100 yuan; Operating income was 787 million yuan, an increase of 9.90% over the same period of last year.

Kairun shares (300577)

Kairun Co., Ltd. is an enterprise that produces suitcases, backpacks, functional clothes and smart shoes and other travel equipment.

In 2015, Kairun Co., Ltd. established Xiaomi Eco-chain Company Shanghai Runmi and Shanghai Shuomi in a joint venture with Xiaomi to create its own brands such as "90 points". In July 2017, Kairun acquired minority shareholders’ equity, and its shareholding ratio in Shanghai Runmi and Shanghai Shuomi increased to 76.9334% and 76%, and its business also increased rapidly.

In 2017, Kairun Co., Ltd. and Xiaomi Eco-chain Company NINEBOT conducted in-depth research and development of the PUPPY series of smart trackable luggage, and the products were recognized by the international market at CES (Consumer Electronics Show) in the United States in early 2018.

According to the annual performance report released by Kairun Co., Ltd. on April 12, its net profit attributable to owners of the parent company in 2017 was 133 million yuan, an increase of 58.81% over the same period of last year; Operating income was 1.162 billion yuan, an increase of 49.84% over the same period of last year.

Jiuan Medical Treatment (002432)

Jiu ‘an Medical is a provider of home medical health electronic products, integrating research and development, production and sales.

Jiu’ an Medical’s 2017 annual report shows that Jiu’ an Medical’s iHealth series brand established a strategic cooperative relationship with Xiaomi in the early days and became a partner of Xiaomi Company in the health field. At the business level, Xiaomi Company and Jiu ‘an Medical have carried out in-depth cooperation in user experience, e-commerce and cloud services.

On the capital level, Jiu ‘an Medical introduced Xiaomi Investment as a strategic investor, and iHealth’s business model and development prospects were recognized by Xiaomi Investment, and it received an investment of 25 million US dollars.

Jiu ‘an Medical said that relying on Xiaomi’s unique business model and huge customer base, the iHealth brand achieved rapid and large-scale promotion with its online and offline dual platforms, which continued to accumulate user groups for iHealth and enriched healthy big data.

In addition, Hualai Technology, a shareholding company of Jiu ‘an Medical, has obtained the investment from Xiaomi and become an ecological chain enterprise of Xiaomi.

According to the annual performance report released by Jiu ‘an Medical on April 26, its net loss in 2017 was 166 million yuan, and its profit in the same period last year was 14.4979 million yuan; Operating income was 598 million yuan, an increase of 42.31% over the same period of last year.

Xiaomi supply chain

Smartphones account for the highest proportion of Xiaomi’s operating income. Xiaomi’s prospectus shows that in the fourth quarter of 2017, Xiaomi ranked fourth in global smartphone shipments and first in India.

GF Securities believes that Xiaomi and Red Rice mobile phones launched by Xiaomi in the early stage, with the advantage of high cost performance, mainly focus on online channels, embrace the Internet dividend, and achieve rapid growth in shipments. In 2016, due to the decrease in online dividends, the growth rate of Xiaomi’s mobile phone shipments declined briefly. However, in 2017, Xiaomi actively laid out offline, opened up the market, improved the supply chain, and returned to the track of rapid growth. At present, Xiaomi’s smartphone product line has two series, Xiaomi and Redmi, which are aimed at the middle and high-end market and the low-end market respectively.

"It is expected that the concentration of related industries in the upstream supply chain of consumer electronics will also increase with the increase of the concentration of terminal industries in the future."

Southwest Securities believes that for large customers such as Apple, Samsung, Huawei and Xiaomi, suppliers who have entered the supply chain list through long-term certification can obtain a relatively stable share, and it is easier to obtain orders when expanding new business and developing new products, which has formed a certain degree of access barriers for upstream suppliers outside the supply chain.

Supply chain listed companies. Source: GF Securities

Based on the opinions of a number of brokers and the announcements of listed companies, The Paper reporter listed five concept underlying stocks that are most concerned by institutions for investors’ reference and do not constitute investment advice.

Pulutong (002769)

Pluto is a manufacturer, service provider and overall solution provider of electro-acoustic components and electro-acoustic components.

Since 2011, Pluto has cooperated with Xiaomi, mainly providing integrated supply chain management services including supply chain diagnosis, supply chain optimization and supply chain execution for Xiaomi Communication Technology Co., Ltd., Beijing Xiaomi Electronic Products Co., Ltd. and Xiaomi Technology Co., Ltd. under Xiaomi’s control, so as to reduce costs, improve efficiency and meet the requirements of "zero inventory" production.

According to the announcement of Pulutong, all the supply chain management services of Xiaomi are charged at a certain rate of the value of the goods handled, and the rate level is roughly 0.29%. The business from Xiaomi accounts for 88% of the company’s total business, its service fee income accounts for 76% of the service business income, and its contribution rate to the company’s overall gross profit is as high as 45.78%. Therefore, the change of Xiaomi’s performance has a considerable impact on Pluto’s income.

Huatai Securities believes that Pluto, as an exclusive supply chain service provider, will directly benefit from the scale expansion after Xiaomi IPO financing. After Xiaomi’s listing, the scale growth of Pulutong’s business is expected to maintain a high growth rate and benefit from the development of Xiaomi’s smart home appliances and other sectors.

According to the data of 2017 annual report of Pulutong, its annual income was 5.39 billion yuan, up 49.9% year-on-year, and its net profit attributable to the parent company was 67.835 million yuan, down 64.5% year-on-year.

Wentai Technology (600745)

Wentai Technology is an enterprise engaged in R&D and manufacturing of mobile terminals, intelligent hardware and other products.

The 2017 annual report shows that Wentai Technology jointly launched the "5G Pilot" program with Qualcomm, Lenovo, OPPO, vivo, Xiaomi and other companies in 2017 to jointly develop the huge global opportunities that 5G will bring.

Wentai Technology said that it achieved high growth with high-quality customers such as Huawei and Xiaomi in 2017. It is expected that customers such as Huawei and Xiaomi, China’s mobile phone manufacturers, will continue to grow in 2018, benefiting ODM (Original Design and Manufacturing) companies such as Wentai.

Shenwan Hongyuan Securities said in the research report that with the increasing concentration of mobile phone brands and ODM industry, Wentai Technology has implemented a boutique strategy based on existing customer resources, which will help to bind high-quality customers and increase the value of single machines, thus enhancing the company’s project development fees and technology commission fees.

According to the 2017 annual performance report released by Wentai Technology on April 26, its net profit attributable to owners of the parent company in 2017 was 329 million yuan, an increase of 586.49% over the same period of last year; Operating income was 16.916 billion yuan, an increase of 26.08% over the same period of last year.

Xinwangda (300207)

Xinwangda is a company engaged in the research and development of lithium-ion battery modules, and its main products are lithium-ion battery modules.

Xinwangda said on the investor interaction platform on March 13, 2018: "The company is the main supplier of Xiaomi and the main supplier of Xiaomi eco-chain related companies. Listing is an important milestone in the history of Xiaomi’s development, and it will also have a positive impact on enterprises in Xiaomi’s ecological chain. "

Pacific Securities said in the research report that Xinwangda’s mobile digital business market share has further increased. In the field of consumer batteries, the company has become a global supplier of well-known brands at home and abroad such as Huawei, Xiaomi, OPPO and VIVO, and its share has remained at a high level. The company has cut into the supply chain of several product lines of major international customers, and its share will continue to grow at a high speed. In 2018, the penetration rate of dual-cell and special-shaped battery solutions for mobile phone digital batteries increased, which brought about an increase in the value of a single battery.

"Under the unfavorable situation of declining overall shipments and fierce competition in the mobile phone market, the company’s consumer lithium batteries continued to grow, the battery system business of electric vehicles expanded rapidly, and the power battery production line was built smoothly. The company as a whole achieved steady growth in operating income and net profit."

Xinwangda’s annual performance report released on April 17 showed that the net profit attributable to owners of the parent company in 2017 was 544 million yuan, an increase of 20.86% over the same period of last year; Operating income was 14.045 billion yuan, an increase of 74.43% over the same period of last year.

Sanhuan Group (300408)

Sanhuan Group is an enterprise engaged in the production of passive components, ceramic back covers and other products.

According to the 2017 annual report, the mobile phone ceramic appearance parts of Sanhuan Group have been applied to Xiaomi 5, Xiaomi MIX, Xiaomi 6, Xiaomi MIX2, One Plus X, Essential Phone and other models, and obtained high market evaluation.

Sanhuan Group said that based on the "material+"strategy, it will expand ceramic technology into the field of new energy, and further deepen cooperation with terminal manufacturers such as Huawei, OPPO, vivo and Xiaomi, and the orders will grow steadily.

CITIC Jiantou Securities said in the research report that MLCC and ceramic substrates have been out of stock since 2017, and orders of Sanhuan Group are in short supply and actively expand production. It is expected to benefit from the price increase cycle throughout the year; After the release of OPPO R15 and Xiaomi MIX 2s models, the market feedback was good, and the sales volume was considerable. It was judged that ceramic casings began to be stocked in batches in April, and the possibility of increasing the stocking volume and introducing other terminal brands was not ruled out. Ceramic ferrules and ceramic packaging bases will steadily expand their market share, and at the same time, they will make efforts to build 5 G.

According to the annual performance report released by Sanhuan Group on April 19, its net profit attributable to the owners of the parent company in 2017 was 1.083 billion yuan, an increase of 2.29% over the same period of last year; Operating income was 3.13 billion yuan, an increase of 8.39% over the same period of last year.

Oufei Technology (002456)

Oufei Technology is an enterprise engaged in the production of touch and LCD modules, micro-camera modules and fingerprint identification modules.

Oufei Technology said in its 2017 annual report that the company’s main customers include domestic and international mainstream smartphone brands such as Huawei, Xiaomi and OPPO.

"We have established long-term and stable cooperative relations with well-known enterprises such as Huawei, Xiaomi, OPPO, VIVO, Samsung and Lenovo, and maintained timely and efficient interaction, which has established the company’s industry position as the mainstream supplier of micro-camera module, touch display and biometric module."

Everbright Securities said in the research report that 2018 is expected to be the harvest year of Oufei Technology’s dual-camera business, and the logic of rising volume and price is clear. At present, mobile phone innovation is strong, dual cameras have outstanding advantages in camera quality, and the market share of dual-camera in high-end mobile phone market will gradually increase, and related businesses of the company will directly benefit. In terms of quantity, the company has made a breakthrough in the domestic high-end mobile phone market, formed long-term friendly partners with many manufacturers and became an important supplier. It is expected that the shipment of dual-camera modules will exceed 100 million this year.

According to the annual performance report released by Oufei Technology on April 23, its net profit attributable to owners of the parent company in 2017 was 1.01 billion yuan, an increase of 40.47% over the same period of last year; Operating income was 33.791 billion yuan, an increase of 26.34% over the same period of last year.

Fenda Technology (002681)

Fenda Technology is a new type of intelligent hardware and integrated solution provider and service provider. Its main products include electroacoustic products, health appliances, smart wearable products, wireless modules and metal appearance parts of mobile intelligent terminals.

Fenda Technology said in the 2017 announcement that the end customers of the company’s precision metal structural products include Pingguo, Huawei, Samsung, vivo, Xiaomi, Sony, Motorola, Intel and many other internationally renowned brands. Xiaomi Note3 uses the combination of Fenda Technology’s metal middle frame and glass back cover.

Fenda Technology’s 2017 annual report said that the net profit attributable to owners of the parent company in 2017 was 443 million yuan, an increase of 15.06% over the same period of last year; Operating income was 3.21 billion yuan, an increase of 52.59% over the same period of last year; The basic earnings per share was 0.34 yuan, an increase of 9.68% over the same period of last year.

It is noteworthy that on April 10th, Hainan Securities Regulatory Bureau issued an administrative penalty decision, which punished Fenda Technology employees Linli and Yang Xiaotao for their illegal acts of leaking inside information and insider trading, with a total fine of 243,000 yuan. Because Yang Xiaotao released the "Announcement of Holding Initiative" which was not officially disclosed to the outside world to a circle of friends, it constituted an act of leaking inside information; This circle of friends was seen in the WeChat group and bought the shares of Fenda Technology, which constituted insider trading.

Anjie Technology (002635)

Anjie Technology mainly provides precision functional device production and overall solutions for high-end consumer electronic products such as smart phones and computers and new energy vehicles.

The 2017 annual report of Anjie Technology shows that the main products of Weibo Precision acquired by the company are precision structural parts of consumer electronics metals, which have been successfully produced for well-known consumer electronics brands such as Xiaomi, OPPO, VIVO, Huawei and Lenovo.

On March 28th, Anjie Technology replied to the investor’s inquiry on the interactive platform of Shenzhen Stock Exchange, saying: "At present, the company has not supplied wireless products to Xiaomi, and the company mainly supplies products related to Xiaomi’s smart phone metal parts."

According to the annual performance report of Anjie Technology, the net profit attributable to the owners of the parent company in 2017 was 391 million yuan, an increase of 1.13% over the same period of last year; Operating income was 2.715 billion yuan, an increase of 48.53% over the same period of last year; The basic earnings per share was 0.61 yuan, down 7.58% from the same period of last year.

Huajin Securities said in the research report that Anjie Technology has a layout of die-cutting parts, metal parts and 3D hot-pressed plastic back covers in the smart phone business. The demand for die-cutting functional parts in the trend of full screen, wireless charging and OLED will further enhance the ASP of large customers, and at the same time, the models and product categories supporting domestic customers will continue to increase.

Keda shares (600986)

Keda’s main business is digital marketing, linking media and advertisers, and providing advertisers with marketing service plans and communication plans through data insight and analysis.

According to the 2017 annual report of Kodak, Kodak is the core agent of Xiaomi Online Service. According to the Securities Times, Kodak, as the core partner of Xiaomi online service industry for three consecutive years, has repeatedly set a record for Xiaomi’s single-day launch.

According to the annual report, Keda achieved an operating income of 9.47 billion yuan in 2017, an increase of 34.79% over the same period of last year, and realized a net profit attributable to the parent company of 463 million yuan, an increase of 11.29% over the same period of last year.

Essence Securities said in the research report that the comprehensive integration effect of Keda shares appeared, and the digital marketing business exceeded expectations. At present, Keda has completed the comprehensive integration from physical space to organizational form, covering the whole industrial chain of digital marketing and becoming a leading enterprise in digital marketing.

Source: Moscow Times

　　Overseas Network December 18th　Recently, an office photo of Russian President Vladimir Putin was exposed. As can be seen from the photo, Putin’s office computer still uses Windows XP system, and this detail has caused heated discussion.

　　Comprehensive Moscow Times and Guardian reported on 17th that a news photo released by the Kremlin showed that Windows XP was still installed on the computer desktop of Putin’s office.

　　According to the report, Microsoft officially stopped technical support for Windows XP and Office 2003 in April 2014, focusing on the updated operating system, and reminded users that if they continue to use Windows XP, they will be more vulnerable to virus attacks.

　　Kremlin spokesman peskov did not publicly explain to the media why the Kremlin has not updated the operating system of Putin’s computer. Foreign media speculated that the Russian government imposed restrictions on foreign software used by officials, which may be the reason why Putin’s computer did not update its system. It is unclear how much threat Putin’s computer uses Windows XP to Kegong’s network security.

　　According to the export control documents of the Russian Ministry of Defense, Windows XP has been certified by the Russian Technology and Export Control Bureau, and it is the last Microsoft operating system used by Russian government agencies. Windows 10 is only approved for computers that do not contain state secrets.

　　On December 2, Putin signed a law prohibiting the sale of smart phones, computers, etc. without pre-installed software specified by the Russian government. Putin also signed a law on the same day, stipulating that website operators must store Russian user data on data processors in Russia. Legal persons or individuals who violate this regulation and refuse localization will face fines. The law will take effect from July 1, 2020.

　　According to the report, Russia plans to let computers of all government agencies and "strategic" companies use domestic operating systems to replace the software of Microsoft and Apple by 2025-2030.

　　In addition to computers, the mobile phone used by Putin is also the focus of attention. A number of Russian media have previously exposed Russian President Vladimir Putin’s "secret of mobile phone", saying that Putin has a special mobile phone, which is thicker than ordinary smart phones and has several levels of protection measures, including settings to prevent signal theft and eavesdropping. (Sharla Cheung)

　　[car home Information] Seeing that the opening of the 2024 Beijing Auto Show is getting closer and closer, news about new cars of various car companies is also emerging one after another. I believe many friends have also seen the last issue of our auto show preview (click here to view it). What heavy new cars are there at this year’s Beijing Auto Show? Looking forward to this auto show, let’s look at it. There are many brands and the first models in the segmentation field. What’s the surprise? Let’s take a look!

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● Geely Galaxy E5
Auto show action: starting
Model characteristics:Brand new pure electric SUV

　　Previously, Geely Galaxy officially announced the name of its brand-new pure electric SUV model-Geely Galaxy E5, with an estimated price of 150,000-200,000 yuan. It is worth mentioning that Geely Galaxy E5 is the first heavy new product of Geely Galaxy to anchor the global market. The left and right rudder vehicles are developed and tested at the same time, and will be sold to users around the world in the future.

　　Judging from the official preview, the new car uses the same ripple and rhythm grille as the Galaxy E8, with sharp headlights on both sides and L-shaped air inlet decorative strip below, which makes this car look very sporty. At the same time, the closed front grille modeling can also appropriately improve the drag coefficient of the vehicle.

　　From the side of the car body, the car uses hidden door handles and low wind resistance wheels, which looks very harmonious as a whole. At the same time, the tail adopts the popular through taillight group, which has a strong sense of movement with the large spoiler above. In terms of power, Geely Galaxy E5 will be equipped with a pure electric power system, which will provide 800V architecture models with a high probability.

●　Editor’s comment:

　　　The launch of Geely Galaxy E5 makes up for the vacancy that there is no pure electric SUV in Galaxy series. At the same time, due to the great success of Galaxy E8, consumers are quickly aware of this series of models. The official launch of Galaxy E5 in time is bound to set off a new wave of market in the segmentation field. At the same time, Galaxy E5 has also set its sights on the global market and adopted left and right rudder models for simultaneous development. According to the officially announced product plan, Geely Yinhe brand will focus on the mainstream market of "hybrid+pure electricity" in 2024, and launch three new energy products one after another, all of which are developed based on brand-new architecture and innovative design language, and apply self-developed new energy intelligent technology.

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● Deep blue G318
Auto Show Action: Pre-sale
Model features: Deep Blue’s first medium and large SUV

　　Previously, on March 18th, the brand-new medium and large SUV- Deep Blue G318 made its debut. As the third model of the brand, it relied on tough appearance lines and rich official modification and expansion hardware, focusing on outdoor users. Earlier reports said that the main price of the car is expected to reach the range of 250,000-300,000. According to the plan, the new car is expected to be delivered in June and the monthly sales volume is expected to reach 10,000 units.

　　In terms of appearance, the overall design tends to be tough, with straight lines and rounded rectangles to create a popular retro hardline this year. In order to meet the design requirements, the stamping and welding links in the manufacturing process have also been upgraded.

　　Headlamp group similar to the letter C is equipped with a central enclosed front grille, which creates a unique avant-garde feeling for new energy vehicles. In addition, the fender under the bumper also adds more wildness to the whole front.

　　The design of the hidden door handle on the side of the car body is conducive to reducing the wind resistance. The official said that the wind resistance coefficient of the whole car is 0.35Cd, and it is matched with the front and rear raised wheel eyebrow lines, which highlights the tough style and further resembles modern aesthetics. The trunk door at the rear of the car adopts a side-opening structure, and the two sides meet to form a lifting structure, which forms a stable and powerful support for the rear. Together with the strong black bumper at the bottom, it is very recognizable and strong. The new car will offer 7 exterior colors and 3 interior colors.

　　In order to meet the needs of outdoor use, the original factory of Deep Blue also provided an optional roof rack spotlight, which evolved from a traditional round shape to a hexagonal shape, bringing a brand-new technological look and feel, providing more adequate environmental lighting during crossing or camping, and at the same time, the roof rack can also play the role of carrying items in the actual use process. The new car will come standard with active noise reduction and double-layer sound insulation glass in front and rear.

　　In addition, Deep Blue also provides luggage rack, headlights, electric pedals, backpacks, spare tires and other original factory extensions. It is worth mentioning that the dark blue G318 four-wheel drive model has towing qualification, and the maximum towing quality can reach 1600kg. As long as you have a C6 driver’s license, you can easily tow water entertainment equipment such as yachts and motorboats, or outdoor sports equipment such as bicycles and motorcycles. In addition, the maximum external discharge output power of Deep Blue G318 is 6kW. In terms of body size, the length, width and height of the new car are 5010/1985/1960 mm (including spare tire and spotlights) and the wheelbase is 2880 mm.

　　The interior styling continues the design style of the car, and the overall design concept follows the hard-core off-road style. The large-area square and straight outline lines make the interior look tougher. Not only that, the car has a large number of physical buttons, which is convenient for functional operation in various driving conditions and is also conducive to driving safety. In addition, the car also adds a large-size instrument and a 14.6-inch central control display screen, which creates a good sense of avant-garde and advanced overall.

　　In the power part, Deep Blue G318 will be equipped with an extended-range power system, in which the maximum power of a single motor version is 110 kW; The front and rear dual-motor four-wheel drive version, in which the maximum power of the front motor is 131kW, the maximum power of the rear motor is 185kW, the total power of the system reaches 316kW, and the peak torque can reach 6200 Nm. 0-100km/ acceleration time is 6.3 seconds. The kerb mass of Deep Blue G318 is 2360kg, the maximum load is 2800kg, and the ton power reaches 112.86kW/1000kg.

　　The dark blue G318 is equipped with ENC active noise reduction technology. In addition, the car has a double wishbone+multi-link +R-EPS steering system. Not only that, the magic carpet +CDC+ suspension is also standard.

　　It is worth noting that the G318 integrates 16 driving modes, including 5 daily modes, 5 terrain modes (wading mode, snow mode, rugged mode, mud mode and sand mode) and 3 special scenes (in-situ U-turn, steep slope descent and off-road crawling). Three energy management modes.

●　Editor’s comment:

　　In recent years, the outdoor and camping boom has made more consumers tend to choose SUVs with certain passing performance. The Deep Blue G318 uses extended range as the power form, with a tough appearance and sufficient official expansion accessories, which is exactly the latest user demand. On the other hand, with the rapid development of intelligent technology, its intelligent driving can also reduce users’ driving fatigue in many application scenarios, and intelligent cockpit technology provides convenience when camping. Compared with those hard-core off-road vehicles that rely on the four-wheel drive structure to impress consumers, the deep blue G318 is undoubtedly more grounded.

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● Tank 300 Hi4-T
Auto show action: starting
Model characteristics:Great Wall’s latest Hi4-T hybrid system blessing

　　Previously, the tank 300 Hi4-T model has been declared by the Ministry of Industry and Information Technology, and the Hi4-T logo representing the latest hybrid technology of the Great Wall has appeared on the new car, which means that the tank new energy product sequence will officially welcome a powerful new player. The car will be equipped with a hybrid system consisting of a 2.0T turbocharged engine and an electric motor, which will greatly improve fuel economy.

　　In terms of appearance, the overall new car is highly consistent with the fuel version, and has not been adjusted too much. The square box shape and retro round lamp design make it have a good performance. In terms of body size, the length, width and height of the new car are 4760/1930/1903mm and the wheelbase is 2750mm respectively.

　　At the rear of the car, the new car is designed with a horizontal tailgate, and the "small schoolbag" is still there, with the Hi4-T logo under the word "Tank 300". In addition, from the declaration map, the new car can be selected for many details to meet more personalized needs.

　　In terms of power, the new car will be equipped with a 2.0T plug-in hybrid system, in which the engine model is E20NB and the maximum power is 185kW. In addition, the ternary lithium battery equipped with the new car comes from honeycomb energy, and the specific parameters of the motor are still unknown.

●　Editor’s comment:

　　As its first model, Tank 300 was an instant hit, and its grand occasion at the 2020 Chengdu Auto Show is still memorable. The official launch of the hybrid version of the tank 300 further complements the short board of the fuel economy of this car. For those users who want to have a holiday and are sensitive to the fuel economy of daily commuting in cities, the tank 300 Hi4-T can meet more needs.

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● The new model asks M5.
Auto show action: starting
Model characteristics:Or take HarmonyOS Smart Cockpit 3.0, Huawei ADS 2.0 Intelligent Driving, etc.

　　Previously, Wang Yanmin, president of Huawei’s BG Intelligent Car Selection Business Department, revealed that the M5 will be unveiled at the 2024 Beijing Auto Show. The M5 is positioned as a medium-sized SUV, which is available in pure electric power and extended range. The motor is available in 272 HP rear drive and 496 HP four-wheel drive. The cruising range of pure electric rear-drive vehicles is 602 km and 620km, and that of pure electric four-wheel drive vehicles is 534km. The extended-range model is equipped with a 1.5T engine as a range extender, with a maximum power of 152 HP and a pure battery life of CTLC ranging from 230 to 260km.

　　In the appearance part, the overall shape of the new car has not changed much, and it still continues the current shape. The overall simple front face design with large air intake grille and vents on both sides shows a good sense of movement. It is worth mentioning that the new car will upgrade the intelligent headlight system and have a wider irradiation range.

　　On the side of the car body, the new car is still a continuation of the current style, with a good balance between fashion and dynamics. The window part is decorated with silver chrome, which enhances the sense of luxury. In terms of the tail, the new car uses a penetrating taillight group, which is highlighted by black decoration. The rounded and full rear bumper makes the tail shape of the vehicle look more heavy.

　　In the interior, the new car will support the same optional configuration of the M9 AR HUD, adding three-zone air conditioning, independent temperature regulation in the rear row, cotton candy seats, zero-gravity seats and so on. In terms of configuration, the new M5 will be equipped with an 800V fast charging platform and adopt the latest Huawei lidar.

　　In terms of power, the new car will upgrade the same motor in Zhijie, and the acceleration time of 0-100km/h will be increased to 6.3 seconds and 3.6 seconds. In addition, the extended-range model will be equipped with a 50kWh battery, with a pure battery life of 330km and a comprehensive battery life of 1520km under CLTC conditions. The pure electric version will support 100kWh batteries, and the longest battery life is expected to be about 800km.

●　Editor’s comment:

　　The appearance of the 2024 model M5 has not changed significantly. It is mainly improved in various configurations such as power, charging, intelligence and comfort of the vehicle, and the product strength of the vehicle has been further strengthened. As the first model of the family, the M5 has opened up the market for the brand. However, with the launch of the M7 and M9 models, its overall presence is getting weaker and weaker. Through this change and upgrade, I look forward to asking M5 to have a better performance in sales.

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● Chevrolet Explorer Plus
Auto show action: starting
Model characteristics:Provide RS and ACTIV interior and exterior decoration/The first plug-in hybrid model

　　Previously, SAIC-GM Chevrolet officially released the official map of the Explorer Plus model. This car is actually a brand-new Equinox model just released overseas in January this year. Explorer Plus will provide two interior and exterior design styles, RS and ACTIV, to interpret the new fashion classics of American SUV.

　　In terms of appearance, Explorer Plus adopts the latest family design language, and the front face is more square and tough. Compared with the modern appearance, the new car is more in line with the current aesthetic trend. Both models are equipped with split headlights and honeycomb air intake grille, which are decorated by letter signs. The air intake grille of Activ version has a larger area and is all blackened; The RS version of the air intake grille is more compact.

　　On the side of the car body, the Explorer Plus car body looks like a reduced version of the Traverse model, and the overall side lines are similar, and the C-pillar and the suspended model are still very recognizable. In addition, the two models will also be equipped with different styles of wheels and tires. The Activ version pays more attention to off-road orientation, while the RS version pays more attention to daily road driving. In terms of body size, the length, width and height of the overseas version vehicles are 4653/1902/1667mm and the wheelbase is 2730mm, which is 51mm wider than that of the current US version vehicles.

　　In the interior part, Explorer Plus is equipped with a three-spoke steering wheel, and uses an 11-inch digital dashboard and an 11.3-inch central control screen, making the interior more scientific and technological. This time, Chevrolet has also upgraded its driver assistance and safety functions. The safety assistance kit for new cars includes enhanced lane keeping assistance, automatic emergency braking with collision alarm, adaptive cruise, blind zone alarm, rear traffic alarm with automatic braking, lane change alarm and so on. In terms of space, the trunk volume is 845L, and it is expanded to 1799L after putting down the rear seats.

　　In terms of power, the new car is equipped with a new generation of 1.5T hybrid system, which adopts P1+P3 dual motors in series and parallel. The maximum power of the engine is 132kW and the maximum torque is 250 N m.. The new car’s 0-100km/h acceleration time is 6.8 seconds, the maximum speed is 180km/h, and the pure electric drive’s 0-60km/h acceleration time is 3.7 seconds. The CLTC comprehensive cruising range of the new car exceeds 1000km, the pure electric cruising range is 155km, and the CLTC comprehensive fuel consumption is only 1.05L/100km. The new car offers two driving modes: pure electric priority (EV) and intelligent electric hybrid (HEV).

●　Editor’s comment:

　　The explorer Plus vehicle renders a strong American SUV atmosphere, and the vehicle has a distinctive appearance, which makes people shine in the current SUV market. Most importantly, this model is also the brand’s first plug-in hybrid model, which has attracted a lot of market attention. What is the overall product strength of the new car? Let’s look forward to its appearance at the Beijing Auto Show!

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● Enjoy the world S9
Auto show action: starting
Model characteristics:The first model of Huawei and BAIC brand new brands

　　Earlier, we learned from the official that Huawei and BAIC launched the first "smart car" brand-new brand Huazhang brand’s first model-Enjoy the S9 part of the official map released. According to the previous information, the car will be listed within the year and will also enter Huawei channel sales in the future. It is worth mentioning that the car may sell for about 500 thousand in the future.

　　In terms of appearance, the new car is built in a rather concise design language, and the C-shaped headlight group+penetrating light strip makes it highly recognizable. In addition, the front enclosure of the new car is equipped with trapezoidal vents with wider dimensions, creating a certain sports atmosphere.

　　Coming to the side of the car, the roof line of the new car is very smooth, and the side body line is also very simple, and the overall visual effect is quite good. On the tail side, the new car uses a penetrating taillight, and the end of the trunk extends a design similar to a duckling tail. There is no exaggerated diffuser shape at the lower enclosure.

　　　In terms of body size, the length, width and height of the car are 5160/1987/1486mm and the wheelbase is 3050 mm. In terms of power, according to different models, the car will provide two versions of single motor and dual motor for consumers to choose from in the future. The former is equipped with TZ210XYA03 drive motor produced by Huawei Digital Energy Technology Co., Ltd., with a maximum power of 227 kW; The latter is equipped with front and rear dual motors YS210XYA03 and TZ210XYA03 produced by Huawei Digital Energy Technology Co., Ltd., with maximum power of 158 kW and 227 kW respectively.

●　Editor’s comment:

　　As the first car under the brand jointly built by Huawei and BAIC, Enjoy World S9 is positioned as the luxury flagship model of the brand and will compete with traditional luxury brands. Thanks to Huawei’s technology, there is no need to worry about the intelligent configuration of vehicles, but we are very much looking forward to how the overall luxury configuration and the sense of honor in details will be presented!

China Economic News Network (Liu Chenxi)On April 15th, "Together, Go Far" Star Era Night and Star Era ET Pre-sale Conference was held in Beijing. There are two kinds of pure electric versions and extended range versions of ET in this Star Age, namely REEV series: 199,000 yuan for Plus, 219,000 yuan for Pro and 239,000 yuan for Pro, and BEV series: 239,000 yuan for Pro, 249,000 yuan for Pro Four-wheel Drive, 259,000 yuan for Pro City Smart Drive, 289,000 yuan for Max and 329,000 yuan for Ultra 32.9

As a heavy-duty model of Xingtu’s high-end new energy, Xingjiyuan ET integrates Chery Group’s 27-year car-making technology. The longest cruising range of the pure electric version is 760km, and the comprehensive cruising range of the extended range version is over 1500km. The extended range version adopts a special engine developed by Chery for industrial mass production with a maximum thermal efficiency of 44.5%, with a rated power of 115kW, achieving 1L oil power generation of 3.65kWh and WLTC feed fuel consumption of 5.2L/100km, and defines "golden extended range" with ultra-low energy consumption.

The pure electric version is equipped with Contemporary Amperex Technology Co., Limited Shenxing rechargeable battery, with a peak charging power of 420kW, which can achieve a battery life of 475km for 11.5 minutes. Even in the low temperature environment of-20℃, the SOC changes from 20% to 80% in just 24 minutes. When the SOC is only 20%, the peak output power still reaches 280kW, which effectively relieves the anxiety of replenishing energy in northern winter.

Star Era ET adheres to the safety gene, and on the basis of more than 20 excellent active safety technologies and passive safety of global five-star safety standards, it has six full-dimensional safety protection beyond expectations, including battery safety, information safety, functional safety and electromagnetic safety, to build a super safety fortress.

Safety is the bottom line and comfort is the gene. As a medium and large SUV, Xingjiyuan ET adheres to the design concept of "big space/small pool", with an effective cabin space of 3.45m? It is equipped with 36 storage spaces and 1.57m2 canopy area, which can isolate 98.5% infrared rays and 99.9% ultraviolet rays.

Star Era ET adopts all-aluminum chassis design, equipped with front high-order double wishbone and rear five-bar suspension only available for millions of luxury cars, redefining luxury chassis. Its front high-order double wishbone is designed by virtual kingpin and matched with HDS hydraulic vibration isolation system, which effectively reduces vibration feeling and brings more stable control experience. At the same time, the new car is also equipped with IAS intelligent air suspension and CDC electromagnetic vibration reduction system. Through the laser radar, the road ahead can be accurately previewed, and the suspension damping can be actively and continuously adjusted in milliseconds, bringing the extremely smooth and comfortable driving texture.

In terms of power, with the help of 800V ultra-efficient electric drive and intelligent torque control system, Xingjiyuan ET has a total power of 413kW, a maximum torque of 8000N·m and an acceleration of 3 seconds per 100 kilometers. In addition, the new car is also equipped with six-piston fixed calipers of millions of luxury cars, free-wheeling system and CIC integrated control technology, and has the largest wading depth of 700+50mm at the same level, which truly makes the plug-in waterproof and battery waterproof, and the whole scene is fearless.

As the "spire" of the pyramid of Chery Group, Xingjiyuan ET is based on Chery’s latest generation EEA 5.0 electronic and electrical architecture, and it is the first software architecture in the industry to realize global SOA service. It is also equipped with the latest technology in the industry, such as UWB entity key, Lion AI big model voice and DHS smart health monitoring, to create a personalized luxury intelligent new experience.

　　Write a paragraph to record your mood, shoot a video to record your life, and post some pictures to record your life … … In recent years, with the prosperity and development of the Internet, the Internet space has gradually covered all aspects of the work and life of the broad masses, and thus all kinds of "self-media" have mushroomed, going deep into daily life and integrating into life.

　　"Self-media" is a new thing born from the internet, and it also breeds some new problems in its development process. Rumors and rumors, counterfeiting, illegal profits … … For some time, the chaos of "self-media" has been constant and varied frequently, which has greatly interfered with people’s normal life and disrupted the network order. Focusing on key platforms such as social networking, short videos and webcasts, rectifying chaos according to law, resolutely cracking down on it and dealing with it strictly will help to create a clear cyberspace and build a good network ecology.

　　The rectification must be strict and the governance must be firm. A few days ago, according to the special action plan of "Clear Lang" series in 2023, the Central Network Information Office launched a two-month "Clear Lang Strict Renovation ‘ Since the media ’ Chaos "special action. This special action not only focuses on solving the deep-seated problems such as the distortion of information content and the loss of operational behavior, but also clarifies the main responsibility of compacting the website platform, and emphasizes the exploration and use of economic means to strengthen the supervision of "self-media". It should be said that clear governance objectives, clear tasks and specific action deployment have strong guidance for rectifying the chaos of "self-media" in the next stage and good guidance for regulating the healthy development of "self-media".

　　Remediation of "self-media" chaos should start with cleaning up bad information. This involves rumor information, such as some "self-media" breaking through the offline out of thin air, substituting flowers for trees, making up at random, creating and publishing all kinds of rumors; Involving harmful information, such as some "self-media" public policies, social hot events, etc., smearing attacks and inciting opposition in distorting interpretation and reversing right and wrong; It involves malicious speculation. For example, some "self-media" maliciously spread and follow the trend of false content that they know or should know by means of "headline party" and multi-account linkage. All these things have polluted the network environment, so we must be clear about what we have, be firm, guard against what we have, and try our best as soon as possible. Only by resolutely controlling all kinds of rumor information, harmful information and false information from the source can healthy and beneficial information be more abundant.

　　Behind the dissemination of bad information are some "profit-making ways" from the media. It is also a top priority to comprehensively rectify the illegal profit-making behavior of "self-media". It is necessary to strictly rectify some behaviors such as "from the media" to stir up hot spots to attract powder and drain, create hot spots to generate traffic, and use vulnerable groups to realize traffic. In particular, those illegal acts such as cajoling and luring the elderly, minors and disabled people in order to gain traffic must be resolutely cracked down and severely rectified. Resolutely cutting off some traffic chains and interest chains that are improperly developed from the media can better eradicate the soil that breeds chaos from the media. This is an important fundamental solution.

　　Rectifying the "self-media" chaos is not a temporary matter or a family matter. It requires the concerted efforts of many parties and long-term efforts. Among them, it is necessary to pay special attention to the counterfeiting of "self-media" accounts of official institutions, news media and specific personnel, and to ban them as soon as possible after being discovered. It can be seen that it is necessary, important and urgent to compact the main responsibility of the website platform, urge the website platform to improve the whole chain management system of account registration, operation and closure, and strengthen the normalization management of account name information audit, professional qualification certification and information content audit. At the same time, in the process of special action, it is necessary to strengthen consultation and judgment with public security departments, check and sort out the reported clues of "self-media" crimes on the website platform, and notify the public security organs in time, so that cybercrime can not escape the severe punishment of the law.

　　The Internet is a public space, and "self-media" has a public attribute. The more powerful it is, the more responsible it is. Facing the future, we will continue to explore the use of legal and economic means to strengthen "self-media" supervision, strictly deal with standards, curb illegal profits, improve the management system, strengthen departmental linkage, and strengthen publicity and guidance, so as to achieve the unity of social and economic benefits. Everyone needs a good "self-media" development direction and a healthy Internet development order, and everyone has a responsibility. Together, we will definitely make the Internet space more clear and tidy.

Wen | passion fruit

Editor | Passion Fruit

Speaking of Shawn, people are no strangers. He and Wang Terry’s "Chopsticks Brothers" combined to create many divine songs, such as "Little Apple" and "old boys".

On January 29th, 2014, the propaganda song "Little Apple" in the movie "The Raptors of the Old Boys Crossing the River" directed, written and starred by Shawn went online. I didn’t expect this song to be popular with Chopsticks Brothers, and this brainwashing melody and simple lyrics instantly attracted everyone.

"You are my little apple, I can’t love you too much …" At that time, you can basically hear this lyric in the streets and alleys. The music is fresh and bright, the lyrics are catchy and the singing degree is extremely high.

This once made this song one of the favorites of domestic square dance aunts.

Xiao Yang was born in Chengde, Hebei Province on January 14th, 1980. His initial dream was to be a painter. In 1996, he came to Beijing, intending to be admitted to the Middle School Attached to the Central Academy of Fine Arts.

He lived in a small alley in Beijing, and lived in a basement hotel with his friends to save money. He spent all his youth in this alley.

I failed in the first year of high school, and finally entered the gate of the middle school attached to the Academy of Fine Arts in the second year. Shawn said that the years of education in the attached middle school have provided him with a particularly good motive force.

During high school, he once formed a band, which was one of his hobbies, and was therefore very popular at school.

However, after graduating from high school, he wanted to step into the directing industry, so he volunteered to choose the planning and directing major of Beijing Film Academy, and later achievements did prove that this choice was correct.

Shawn claimed that he was in arrears with his tuition fees during his freshman and sophomore years. In order to alleviate the pressure on his parents, he started to earn his own tuition fees from the third grade of the affiliated middle school, and worked as an art teacher during the holidays to make up for his living.

When he was in college, he also produced such excellent works as event planning "Caring for Rivers", and was selected for the Golden Calf Award of Taiwan China Times Planning with this film.

After graduating from Shawn University in 2005, he carefully planned for five years, during which he also cooperated with ChristianRandPhillips, Wang Gang and Guo Donglin.

After this period of time, his financial resources began to stabilize, and he also started the next life track. In 2007, the Chopsticks Brothers Group was established with Wang Terry.

Shawn called the establishment of this group willfulness outside of life. He thought it was fun to have such a group, which could sing and occasionally act. He didn’t expect it to be so popular in the future.

At that time, the video network rose, and they filmed a funny MV Memoirs of a Geisha for 6 minutes and uploaded it to Maopu. com, which won the special prize in the first podcast contest.

"old boys" is a youth inspirational online movie which was written, directed and performed by Shawn in 2010. Once it was broadcast, it was loved by the audience. The song of the same name "old boys" reminded everyone of their youth memories. This nostalgic and sad tune resonated with the audience and became a must-have song for people to go to KTV.

This success made people know the existence of Chopsticks Brothers, and their combination was no longer niche. The well-known scenes also changed their life direction.

Later, in 2011, he and Wang Terry collaborated again to launch the first New Year’s online movie "Father", which won many awards such as the 9th Film Huading Award and the China Best Microfilm Award.

With the constant arrival of fame and fortune, his mentality in his twenties is slowly changing, and people who had never been in contact with him at all began to get acquainted with himself.

He quipped that he should pretend to be more comfortable with himself, and unconsciously wanted to play what others wanted.

Shawn began to become more and more popular. The propaganda song "Little Apple" released by "The Raptors of Old Boys Crossing the River" in 2014 spread all over the streets and became a brainwashing divine comedy.

As a result, the Chopsticks Brothers became popular, and the names of Shawn and Wang Terry began to appear on all major stages. They became the busiest artists and even went abroad to enter the international market.

This also made Shawn feel overwhelmed and began to adjust his work focus. He tried to digest this "red" apple. Compared with professional singers, he was not good enough, so he went to learn vocal music. During that time, he was particularly dissatisfied with himself.

Different from singing on the stage with a guitar in high school, now he is on the professional stage, and he must be more demanding of himself.

At the same time, there are more and more questioning voices. In the same year, Chopsticks Brothers won the "Best International Pop Music of the Year" award at the 42nd National Music Festival. Some people say that the chopsticks brothers’ awards are given backstage, and their performances are not shown on TV, but broadcast during the planning period.

For a time, the online voice of doubt became louder and louder: this is a commercial speculation, the prize was bought, and so on. There are people in the industry who question how long the Divine Comedy will last and whether it can really take China culture out of the country.

Fortunately, Shawn was fashionable at that time, and he didn’t pay attention to these voices. In his eyes, the film shone into reality. He and Wang Terry supported each other and achieved each other. Like a combination name, they were indispensable.

He continued to appear on the big screen. In January 2015, he participated in detective chinatown directed by Chen Sicheng. His role as "Kuntai" was memorable, and his nonstandard Mandarin made people remember him. At this time, people found that Shawn was a good actor.

"I really enjoyed playing the role of Kuntai, and finally I can use this role to have fun." This is his first experience as an actor.

He began to study the career of an actor with his heart, and to face the transformation with a correct attitude. Before, Shawn would choose to put off the role that he needed to perform, but after detective chinatown, Xiao Yang officially entered the entertainment industry.

In January of the same year, he starred in the action comedy movie Super Express, and in 2016, he starred in Love Saint. 2018 comedy adventure detective series film "Chinatown Detective 2", in January, participated in the film "Fierce Worm Crossing the River" directed and performed by Xiao Shenyang; On January 21 ST, the comedy film "Weather Pre-explosion", which was written, directed and performed, was released nationwide.

From the previous non-mainstream to the current explosion, more and more directors began to look for him to act.

Until January 13th, 2023, Sheep Without A Shepherd, a plot crime movie starring him, was released. The appearance of the role of Li Weijie made Shawn’s acting skills rise to a higher level again.

With this film, he was nominated for the best actor in the 33rd China Golden Rooster Award. He talked about acting and thought it was a process of moving himself first and then passing it on to the audience.

He will be immersed in this role during acting, and sometimes he will unconsciously think in a role-based way even after the filming.

When it comes to Shawn, people no longer remember that he was a singer. The "little apple" that resounded in the streets has disappeared.

People’s evaluation of Shawn began to change from "Little Apple Shawn" to "It turned out that he was Shawn in that chopsticks brother".

After more than ten years, people began to regard him as an actor Shawn, and each of his characters was memorable.

Being an actor is a very important decision for Shawn, which is also a part he must go through to become a director.

But from the beginning of "detective chinatown", you don’t have to direct it yourself, but you appear on the big screen as a performer, and then you are sure of it.

Shawn’s first feeling was that he didn’t believe it, but he also felt very gratified.

His road as an actor began to go further and further, and missing the Golden Rooster Award was not a regret for him, but a better expectation.

He thinks he is not fashionable enough. As an actor, if he is really lucky enough to win this award, he will be uneasy.

Silently shoot more plays, and when you really reach that height, you will prove that you are an all-round actor, and you will have the confidence to accept it.

He continued to move forward as an actor. On January 12, 2023, the comedy crime movie Crowd starring Shawn, Andy Lau and Wan Qian was released. On the same day, Detective Chinatown 3 and Diary of Making a Rich were also released, and on January 17, manslaughter 2 was released.

The "face-changing" acting skills made everyone sit up and take notice of Shawn, faded from his youth at school, and his acting skills were tempered by one work after another.

He became popular all over the country with a song, but he didn’t feel complacent. Instead, he calmed down, shifted his focus, transformed himself into an actor, lived seriously and tried to improve himself.

"Youth is like a running river, and it’s too late to say goodbye once it’s gone. I’m only numb and I don’t have the blood of that year … "This is the lyrics in old boys.

The lyrics are true and thought-provoking, but Shawn still retains his original blood, trying new things again and again, and making great achievements again and again.

Whether it’s the ultimate interpretation presented to us in Sheep Without A Shepherd, or the detective who is in great contrast with himself in detective chinatown.

Shawn is always trying to find out where his limit is, step by step, and constantly proving to everyone that the passionate young man was not polished by life.

This is Shawn, a man who still faces life with enthusiasm after he has clearly understood life.

In Shawn’s new film "Escape from Youth", this film tells the story of the programmer He Liwei, played by Shawn, who developed a game by himself.

However, he disrupted the company’s plan, so he was forcibly sent to a mental rehabilitation hospital called "Youth" by the company.

In Shawn’s view, this is an adventure belonging to He Liwei. On his personal Weibo, he wrote his creative words: How many joys, sorrows, and sorrows were separated from immersing himself in his own works and completing his breakthrough in youth?

In reality, why not meet all kinds of people? I just hope that everyone can stick to it with enthusiasm and finally complete their dreams.

Editor in charge:

　　Tomorrow, our mobile phone will be screened by Buffett again!

　　At 22:15 Beijing time on May 4th, the annual shareholders’ meeting of Berkshire Hathaway will be held in Omaha, USA. It is estimated that about 30,000 shareholders will attend, and millions of people will watch it online. The most noteworthy issues of this shareholders’ meeting include:

　　Who is Buffett’s successor? — — Bashen is 88 years old and Munger is 95 years old.

　　What about Berkshire’s more than $110 billion in cash? — — Look at the company’s share price of $320,000. Do you still think Maotai is expensive?

　　The repurchase scale will be as high as $100 billion? — — There are not many good companies worth buying, so I have to buy myself.

　　However, for A-share investors, they may be more concerned about this question: What does Buffett think of the China market? Which stocks of A shares meet its stock selection criteria?

　　Which A shares can enter the eyes of the law?

　　There are many criteria for Buffett’s stock selection, but there are clear quantitative criteria. He only said one sentence, that is, the annual return on net assets (ROE) is greater than 20% for 10 consecutive years.

　　The so-called return on equity (ROE) is the ratio of company profits to shareholders’ equity. It represents the investment income of investors, in short, how much money the enterprise can earn for investors.

　　ROE is a measure of a company’s long-term profitability. The higher the ROE, the higher the net profit it earns with the same shareholder capital investment. According to Coca-Cola’s standard, that is, keeping the ROE above 20% for 10 consecutive years, it is the company that Buffett may like.

　　So, which companies in A shares meet Buffett’s standards?

　　Wind data shows that in the 10 years from 2009 to 2019, among the listed companies whose ROE (deduction/dilution) continuously exceeds 20%, there are only five listed companies in A shares, namely Kweichow Moutai, Haitian Weiye, Gree Electric, Yanghe and Chengde Lulu.

　　The average share price increase of these five listed companies in the past 10 years is 690.49%, and the annualized rate of return is 22.97%. The biggest increase is Kweichow Moutai, which rose 12 times in 10 years, followed by Gree Electric, which rose more than 11 times in 10 years.

　　If we relax the ROE standard to 15%, that is, we will keep the ROE above 15% for 10 consecutive years. So, how many companies in A shares meet this standard?

　　Wind data shows that in the 10 years from 2009 to 2019, there were 14 listed companies with ROE (deduction/dilution) exceeding 15% continuously, namely Shuanghui Development, Kweichow Moutai, Haitian Weiye, Hikvision, Gree Electric, Huadong Medicine, Yanghe, Chengde Lulu, Hengrui Pharma, Chongda Technology, dongfeng shares, Fuyao Glass and so on.

　　The average share price increase of these 14 listed companies in the past 10 years is 551.72%, and the annualized rate of return is 20.62%. Among them, Hengrui Pharma, Kweichow Moutai and Gree Electric rose more than 10 times, while Huadong Medicine, Hikvision and Golden Mantis rose more than 5 times.

　　Is Bashen’s strategy unacceptable?

　　In the past 10 years, what is the investment income of Warren Buffett?

　　According to media calculations, if an investor bought a dollar of Berkshire stock 10 years ago, the return today is about $2.4, but if this dollar is invested in the Standard & Poor’s 500 Index Fund, the return today is about $3.2. In other words, in the past 10 years, the income from investing in Berkshire has not been as high as that from investing in the S&P 500 index fund.

　　In 2018, the worst performance of global financial assets in the past 100 years, the "stock god" seems to be unhappy. Suffering from various "thunder" such as Apple’s performance falling short of expectations and Kraft Heinz’s performance changing face, Berkshire lost more than $25 billion in the fourth quarter of 2018, but still earned more than $4 billion in the whole year.

　　But in A-share market, Buffett’s stock picking strategy still seems feasible.

　　In the past decade, 108 A-share stocks have increased more than 5 times, and 29 have increased more than 10 times. The median ROE of these 29 stocks is 14.88%. During this period, the Shanghai Composite Index rose by 24.72%, the Shanghai and Shenzhen 300 Index rose by 50.2%, the CSI 500 Index rose by 74.59%, and the Shenzhen dividend index rose by 132.51%.

　　Obviously, those companies with long-term earning ability and dividend-paying ability can surpass the market if they buy at a reasonable price. However, it should be pointed out that value investment is by no means equal to an ROE index, and the stocks selected according to it are not necessarily suitable investment targets, but only help us find out those good companies more easily.

　　The above data illustrates two problems:

　　First, as Buffett said: "By investing in index funds regularly, an investor who knows nothing can usually beat most professional fund managers." Buffett has recommended index funds for more than ten times.

　　In Buffett’s view, the vast majority of investors rarely invest in index funds, and as a result, their performance in investing in stocks is mostly just mediocre, or even disastrous. There are three main reasons for the loss of investment stocks:

　　1. The cost is too high, investors buy and sell too frequently, or the expenses are too large;

　　2. Investment decisions are made according to gossip or market trends, rather than after careful consideration and quantitative analysis of listed companies;

　　3, blindly chasing up and down, buying or selling at the wrong time.

　　Second, practice has proved that the companies with the strongest earning power in A-shares can bring rich long-term returns to investors.

　　The overall growth level of A-share listed companies is better than the average level of social enterprises. The long-term stock price trend charts of leading enterprises such as Gree Electric, Vanke A, China Merchants Bank, China Ping An and Fuyao Glass are all consistent with the development path of enterprises.

　　The method of value investment has not failed in A-shares. In fact, A-shares will create a good opportunity for value investors to pick up bargains every few years, making it easier for investors to meet good prices. Numerous masters have emphasized that all investment is to find a good industry, a good company and a good price.

　　Finally, Buffett has bought two China stocks so far — — China Petroleum and BYD.

　　In 2003, Buffett bought H shares of China Petroleum at a price of HK$ 1.6, and cleared the position when the share price reached HK$ 13.5 in 2007, with a four-year income of more than 7 times (the reinstatement factor has been considered, the same below). When Buffett bought it, the P/E ratio of China Petroleum was only 5 times, while when China Petroleum was listed on A-share in 2007, the P/E ratio of 48 yuan’s opening price was as high as 63 times.

　　In 2008, Buffett subscribed for 225 million shares of BYD at a price of about HK$ 8 per share. At present, Buffett still holds shares in BYD, and its latest share price is HK$ 53.55, and its income has exceeded five times. When Buffett bought BYD shares, the corresponding P/E ratio was only 10.2 times. At present, its latest P/E ratio is 39.29 times.

　　China securities journal Song Zhaoqing