上海419 – 上海后花园论坛-上海419论坛-夜上海论坛-阿拉爱上海

On the 11th, institutions forced the purchase of 6 shares, which were extremely undervalued

　　Great Wall Motors

　　July Production and Sales Express Comments: Production and sales continue to recover, globalization accelerates

　　Event overview: On August 8, 2022, () released the July production and sales express: July automobile production 102,200 vehicles, + 15.02% year-on-year; automobile sales 101,900 vehicles, + 11.32% year-on-year.

　　The order of production and sales has been restored smoothly, and the sales performance in the second half of the year is expected to continue to improve. Great Wall’s automobile sales in July 101,900 units, + 11.32% year-on-year/month-on-month + 0.73%, positive year-on-year growth for two consecutive months, and positive month-on-month in July, the company’s production and sales continued to recover. In terms of sub-brands, Haval/Tank/Euler/WEY/pickup truck sales were 6.13/1 25/0.88/0.30/1 6,300 units, respectively, + 7.14%/+ 128.03%/+ 21.76%/-24.26%/-7.53% year-on-year, of which tanks performed well in the same month-on-month, mainly driven by tank 300 and 500 series sales. In the first half of the year, the supply chain restricted the release of production and sales. With the recovery of the supply chain after the epidemic and the gradual supply of ESP With the second half of the year, policies such as the introduction of automobiles to the countryside and the reduction of purchase taxes will stimulate consumer demand; supply and demand will quickly resume the cycle of stacking new products, and the company’s sales are expected to continue to improve.

　　Brand differentiation strategy highlights the effect, product structure optimization to promote the brand upward. sub-brand point of view. 1) Haval: Haval H6 sales 27,600 vehicles, + 7.35% year-on-year; new Haval big dog hunting version sales 10,000 vehicles, + 19.36% year-on-year; Kugou will be listed in August, priced 12.58-14 9,800 yuan, intelligent configuration leading, positioning young client base is expected to bring new volume. 2) Wey: Latte DHT has been listed in ****, further improving the WEY brand product structure, the follow-up dream and other series of new cars are expected to gradually drive brand sales; 3) Euler: Ballet Cat officially listed in July, the second half of the Lightning Cat/Punk Cat will also be listed one after another; 4) ****: **** 300 has been listed so far, the cumulative delivery volume has exceeded 130,000, and the high-end product **** 500 has sold 2,518 monthly. Orders are currently abundant, and the high-end model **** 700/800 is expected to drive the brand volume and price. By optimizing the product matrix, the company’s sales volume of models above 200,000 yuan in July increased to 21% month-on-month. The strong product cycle continues in the second half of the year, and Haval Kugou, Latte DHT, Dream, Lightning Cat, Punk Cat and other models are expected to be launched in the second half of the year. With the intensive launch of blockbuster new cars of various brands, the company is expected to usher in a new situation of rising volume and price.

　　The intelligent transformation is advancing steadily, and the globalization strategy is accelerating. Through the establishment of the Coffee Smart Ecological Alliance, the company has fully integrated the core resources of the upstream, midstream and downstream industrial chain. It has full-stack self-research capabilities in core technologies in the field of full-dimensional intelligence such as intelligent driving, intelligent cockpit, and intelligent services. It is able to provide users with leading intelligent products and digital services, and accelerate the company’s transformation into a global intelligent enterprise. In July, the sales volume of intelligent models accounted for 88.32%, and it is expected to further increase in the future. At present, the company’s overseas cumulative sales have exceeded one million, and it has been exported to more than 170 countries and regions around the world, with nearly 700 overseas sales channels. In July, Great Wall Motor announced that its Brazilian factory produces intelligent new energy models and Great Wall Motor Malaysia Sales Co., Ltd. was officially established. In August, Great Wall Motor signed a contract with EmilFrey to jointly market Wei brand Mocha PHEV and Euler Good Cat. The new car will be officially delivered in the fourth quarter of this year. The company accelerated its expansion into the European market and accelerated the implementation of its globalization strategy.

　　Investment advice: It is expected that the company’s net profit returned to the parent in 2022-2024 will be 95.49/156/18.878 billion yuan respectively, corresponding to 31/19/16 times the current share price PE. It is expected that the company will fully benefit from the industrial policy, optimistic about the company’s electric intelligent development and multi-brand Strategy and Development, and maintain the "recommended" rating.

　　Risk warning: raw material prices fluctuate, chip supply is less than expected, and epidemic control is less than expected.

　　Changan Automobile

　　Independent sales continue to improve, and the dark blue SL03 and Avita 11 are expected to promote the growth of new energy vehicle brands

　　The overall sales volume of Changan Automobile increased steadily. The overall sales volume of Changan Automobile in July was 200,900, an increase of 12.9% year-on-year; the overall sales volume from January to July was 1.3267 million, a decrease of 3.8% year-on-year. Under the superposition of the continuous improvement of the domestic supply chain and the stimulus policy of car purchase, the overall sales volume of Changan in July achieved steady growth.

　　Changan independent sales continue to improve, deep blue SL03 and Avita 11 is expected to drive the independent new energy brand upward. Changan independent brand sales in July 128,300, an increase of 35.6%, an increase of 8.5% month-on-month; 1-July cumulative sales of 757,500 vehicles, a slight increase of 0.4% year-on-year, Changan independent brand sales in July with the same month to maintain growth trend. Changan independent brand new energy sales in July 23,400 vehicles, an increase of 84.2%; 1-July cumulative sales of 108,400 vehicles, an increase of 116.3%. In July, Changan Lumin sales 7,400 vehicles, Benben E-star sales 10,100 vehicles, CS75 sales 21,400 vehicles, Yidong sales 17,800 vehicles, UNI-V sales 15,600 vehicles. The first model SL03 of Changan new pure electric brand dark blue was officially launched on July 25, 515 pure electric version/705 pure electric version/1200 extended range version/730 hydrogen electric version priced at 18.39/21 59/16.89/699,900 yuan, dark blue SL03 cockpit system is equipped with "Changan Smart Core" vehicle domain controller and cockpit domain controller based on Qualcomm 8155 chip, standard 14.6-inch intelligent rotating sunflower screen, 10.2-inch full LCD instrument, 1.9m2 star panoramic canopy system and other high-end hardware, support gesture recognition, 3D holographic face login, Bluetooth/NFC digital key and other humanized functions; deep blue SL03 intelligent driving system comes standard with 6 ultrasonic radars, 3 millimeter wave radars and 6 cameras, which can realize active emergency braking, lane departure warning, lane departure warning L2-level auxiliary driving functions such as hold and reverse lateral warning, and a high-level smart driving system equipped with 28 sensors is available. The cockpit and smart driving configuration are more outstanding among models at the same price. In addition, the Avita 11 jointly built by Changan, Huawei and () was officially launched on August 8, priced 34.99-40 9,900 yuan, with a cruising range of 555km/680km, the fastest 100-kilometer acceleration of 3.98s, and good power and battery life. Avita 11 will be fully equipped with Huawei HI full-stack smart car solutions and advanced battery technology in Ningde Times. It is expected that Avita 11 and dark blue SL03 will have strong product competitiveness, which is expected to drive Changan’s independent new energy brand to continue to rise.

　　Changfu and Changma sales are slightly under pressure in the short term. Changan Ford sold 23,600 vehicles in July, down 9.4% year-on-year; the cumulative sales volume from January to July was 147,000 vehicles, down 7.3% year-on-year. Changan Mazda sold 8,000 vehicles in July, down 20.0% year-on-year; the cumulative sales volume from January to July was 71,700 vehicles, an increase of 1.9% year-on-year. In terms of new cars, the new Mondeo and new Focus models have been listed recently, and the new Explorer will also be launched in August. It is expected that the launch of new cars will help the sales of joint venture brands to gradually improve.

　　Forecast 2022-2024 net profit to the parent 85.54, 94.08, 11.431 billion yuan, comparable to the company’s 22-year average PE26 times, give the company 22 years PE26 times valuation, target price 22.36 yuan, maintain buy rating.

　　Risk warning

　　Changan Ford sales are lower than expected, Changan Mazda sales are lower than expected, and Changan independent brand sales are lower than expected.

　　Kweichow Moutai

　　2022 Semi-Annual Report Comments: Q2 Potential Energy Remains, Reform Dividends Continue to Release

　　Event: () released the 2022 semi-annual report, 22H1 operating income 59.444 billion yuan, an increase of 17.20%, net profit to the parent 29.794 billion yuan, an increase of 20.85%. Q2 single quarter total revenue 26.256 billion yuan, an increase of 15.89%, net profit to the parent 12.549 billion yuan, an increase of 17.29%.

　　Q2 series of wine growth is higher, the proportion of direct sales has increased significantly, and the contribution of e-commerce platforms has increased. Although the epidemic has been repeated in the second quarter, Moutai’s demand toughness is more prominent, and mobile sales have not been greatly affected. Q2 single-quarter revenue achieved a year-on-year growth rate of nearly 16%, in line with previous market expectations. 1) By product, 22Q2 Moutai/series wine revenue 211.05/41 70 million yuan, an increase of 14.97%/22.02% year-on-year. Moutai’s performance is solid, and the growth rate of series wine is relatively prominent. It is estimated that Moutai 1935 contributed a higher increase. 2) By channel, 22Q2 direct sales/wholesale channel revenue 100.62/152 13 million yuan, an increase of 112.87%/a decrease of 10.76%, sales channels continue to optimize, direct sales channel revenue significantly improved, accounting for 39.81% of the main business income, year-on-year/month increase 18.1/6 pct, the end of March e-commerce platform "i Moutai" on-line trial operation, Q2 contribution is higher, to achieve alcohol tax-free income 4.416 billion yuan, of which Moutai 1935, Xiaomao 100ML in the e-commerce platform performance is better, the traditional wholesale channel revenue continued to decline after Q1. 3) As of the end of Q2, the company’s total number of dealers 2188, compared with the end of Q1 decreased by 2.

　　Profitability has increased steadily, and cash flow has been disturbed in stages. 1) 22Q2 gross profit margin is 91.78%, a slight increase of 0.77pct year-on-year. The estimated average price has increased under the optimization of channel structure. In addition, the proportion of series wine has increased, or there is a certain impact on the gross profit margin. 2) 22Q2 sales expense rate is 3.72%, a slight increase of 0.53pct year-on-year, management and R & D expense rate is 5.86%, a decrease of 1.72pct year-on-year. Taxes and add-ons account for 16.66% of total revenue, an increase of 2.86pct year-on-year, and a comprehensive net profit rate of 47.79% to the mother, an increase of 0.57pct. 3) 22Q2 sales cash return is 29.669 billion yuan, an increase of 6.08% year-on-year. Combined with Q1 cash return, an increase of 41.20% year-on-year, the estimated rhythm has been adjusted. Net cash flow from operating activities in Q2 was 6.865 billion yuan, a decrease of 70.42% year-on-year. Net cash flow from operating activities in the first half of the year was negative, mainly due to the decrease in the net increase in customer deposits and inter-bank deposits of holding subsidiary finance company and the increase in the net increase in deposits with the central bank and inter-bank deposits. Contract liabilities as of the end of Q2 were 9.669 billion yuan, an increase of 1.347 billion yuan from the end of Q1.

　　Profit forecast, valuation and rating: Under the Q2 epidemic, the company’s operating resilience and performance certainty are strong. At present, most regions have completed the July payment and arrived one after another. It is estimated that the payment progress is 60% +. The batch price of Feitian Moutai bulk bottles is 2750-2800 yuan/bottle, and the batch price of whole boxes is about 3,100 yuan, which is relatively stable. The company will continue to reform its marketing. The follow-up "i Moutai" is conducive to enriching direct sales channels and strengthening () coordination. In addition, since the end of last year, it has launched rare Moutai, Year of the Tiger Zodiac Wine, Moutai 1935, 100ML Feitian Moutai, etc., to optimize the product structure. Continuous reform releases dividends, 22-year growth is expected to accelerate, maintaining the 2022-24 EPS forecast of 49.21/57 29/65.84 yuan, and the current stock price corresponds to 39/33/29 times P/E, maintaining the "buy" rating.

　　Risk warning: high-end Baijiu demand is weak, channel reform is less than expected, and domestic epidemics are repeated.

How big is it？ 408 tells you the answer!

How big is big enough? Let the Dongfeng Peugeot 408 tell you the answer! The central control LCD screen should be 11.6 inches, the wheelbase of the whole vehicle should reach 2730mm, and the most important thing is to have super discounts! Such a 408 is waiting for you to tease.

Big screen, big satisfaction, connected car life

No travel that goes away? It doesn’t matter, Dongfeng Peugeot 408 will give you a big screen that can be changed if you want! From now on, if you buy Dongfeng Peugeot 408 Deluxe Edition, you can replace the 11.6-inch original boutique central control big screen for free, creating a connected life in the car that is exclusive to each owner!

This original boutique large screen is not only ahead of the same level of models in size, but also brings a futuristic experience to the driver and passenger in terms of practical operation – responsive, multi-area split-screen interaction, more support for lossless music and high-resolution video, but also able to break memory and continue broadcasting. This means that while the driver turns on navigation and other functions, the co-pilot can also play high-resolution video on the same screen, watch a MV of a star idol on the road, chase a TV series that can’t be stopped, and enjoy a non-boring "fun" journey.

The super large screen not only comes with a number of entertainment functions, but also supports the MiuDrive dual-platform smartphone interconnection system. The in-vehicle system is synchronized with the mobile phone screen to build a two-way channel between man-machine and car-machine, and truly bring the interconnection into life. Drivers will not feel tired when making calls, sending and receiving messages, using navigation, and listening to music during driving. Steering wheel button control, handwriting input, and automatic speech recognition system receive instructions in many aspects to solve the above needs in all aspects and help safe driving!

Big beauty, big space, elegant car journey

The Dongfeng Peugeot 408 from France is a gentleman in a sedan, and the French with a long design history gave the 408 a beautiful appearance. From the family-style front grille, coupled with halogen headlights, the 408 gives a simple and clear visual experience. The height of 1488mm and the 17-inch ten-spoke two-tone wheels make the whole car visually textured.

In addition to the beautiful exterior design, the Dongfeng Peugeot 408 also has a lot of space! The 2730mm long wheelbase and 4750mm × 1820mm × 1488mm body size create a very comfortable space for Dongfeng Peugeot 408 owners. The rear space is especially wide, even with long legs, it can be stretched freely!

In terms of power, the Dongfeng Peugeot 408 uses a big star engine! They are the 350THP and 230THP that have won many international awards, and they are also equipped with a 1.8L CVVT gold mainstream engine, of which the 350THP turbocharged direct injection engine can output a maximum power of 123kW, and the peak torque reaches 245N · m/1400-4000rpm. At the same time, the super T power is combined with the "STT intelligent start-stop technology", which not only starts fast, but also achieves a 15% fuel saving effect while the driver maintains his own driving habits. The fuel consumption can reach a minimum of 4.9 liters per 100 kilometers. It saves the cost of using the car and creates a real low-cost travel for users!

Great value and great discounts, realize the dream of owning a car

In addition to free large screen replacement, Dongfeng Peugeot 408 also provides consumers with a number of preferential policies and multiple car purchase financial solutions. From April 10 to May 31, 2018, anyone who buys any model of Dongfeng Peugeot 408 can enjoy a full purchase tax subsidy, a replacement subsidy of up to 4,000 yuan, and if you buy a car in installments, there is a supreme discount of 36 periods of 0 interest rate. At the same time, the purchase of any model of Dongfeng Peugeot 408 during the event will also receive 6,000 insurance subsidies.

Big screen, big space, big power… Want to have such a "Damei" 408? Consult your local authorized dealer or call 400-8877-108 now to join the "big screen" family, "big surprise" is waiting for you!

Lin Qingxia, a psychiatrist who seeks medical treatment for a short temper： I live a very happy life

　　　　Data map: Lin Qingxia, who is still in the wind, attended the charity premiere of the martial arts film "Seven Swords" in Hong Kong on the evening of July 22. Posted by China News Agency, photographed by Deng Qingle

　　　　China News Service, August 23. Recently, there was news that Lin Qingxia was short-tempered and depressed, and fell out with friends. She was told to go to a psychiatrist and find jewelry designer Weng Diesen. Weng Diesen said that Lin Qingxia admired his designs very much, so he asked him to design jewelry. Qingxia was its big customer, and the two were just talking about business at that time.

　　　　"She was very polite and didn’t lose her temper with me. I first saw her with her two daughters. I didn’t know how happy she was, and I didn’t feel anything was wrong at all," the Hong Kong Sun reported.

　　　　As for Qingxia’s other old friend Kang Yu Judi, she was also stunned by the report, thinking that the media should not make false reports, so she immediately closed the line. After two minutes, she replied to the reporter: "I called Qingxia earlier, I don’t know how happy she is, she is completely fine, she asked you to help her clarify."

Editor in charge: Zhang Pengfei

Trillions of Aerospace run out of a super unicorn

Original, Liu Bo, investment community

This is an epic journey to the sea of stars.

Author I Liu Bo

Report I Investment Community PEdaily

The future has arrived.

In December, the Central Economic Work Conference emphasized that next year will focus on promoting high-quality development and leading the construction of a modern industrial system with scientific and technological innovation. The conference pointed out that it is necessary to build a number of strategic emerging industries such as bio-manufacturing, commercial aerospace, and low-altitude economy, and open up new tracks for future industries such as quantum and life sciences.

As a strategic emerging industry, commercial aerospace is becoming increasingly important.

With MIIT’s disclosure, China will accelerate the development and innovation of 6G technology, and achieve commercial use around 2030. This also means that another new node of mobile communication is coming soon. In other words, 6G network will form a fully connected world of ground wireless and satellite communication integration. It is not difficult to find that satellites will play a key role in it, which also gives a number of commercial aerospace companies the opportunity to show their strength. Space-time Daoyu is the leader among them.

What is the origin of Spacetime Daoyu? Established in 2018, Spacetime Daoyu is a technology innovation enterprise under Geely Holding Group. After five years of completing the layout of the whole industrial chain covering satellite research and development, manufacturing, measurement and control, application, etc., Spacetime Daoyu has now become the first commercial aerospace enterprise in China to achieve a commercial closed loop, with a valuation of over 10 billion yuan, ranking among the top echelons of commercial aerospace unicorns.

There has always been a view in the VC/PE circle that the unknown space is the last new continent for mankind. In the words of investors, the Chinese who missed the "era of great navigation" must not miss the upcoming "era of great aerospace". This is a truly epic journey to the sea of stars.

After 10 years of preparation, commercial spaceflight has exploded

Charge out a super unicorn

Looking back at 2014, China’s commercial aerospace industry ushered in an important juncture –

The "Guiding Opinions on Innovating Investment and Financing Mechanisms in Key Areas to Encourage Social Investment" was issued, which clearly stated that "private capital should be encouraged to develop, launch and operate commercial remote sensing satellites, provide market-oriented and professional services; guide private capital to participate in the construction of satellite navigation ground application systems." Since then, China’s commercial aerospace has begun.

Then in 2018, Spacetime Daoyu was established. At that time, Spacetime Daoyu founder and CEO Wang Yang had anticipated that commercial aerospace would become a strategic emerging industry in the information age and an important driving force for the development of global technology and digital economy.

How is the quality of the Space-Time Daoyu team? According to reports, since 2000, there have been no more than 100 important satellite models in China, of which engineers from Space-Time Daoyu have participated in the completion of at least 50 satellites, and each person has complete experience in more than 5 national key satellite models.

But Wang Yang knows that a more important prerequisite than having a strong technical team is to choose the right direction and track. Looking at the commercial satellite industry chain, high thresholds, many links, and strong complexity are significant characteristics. Therefore, start-up companies focus on a certain sub-field, and few have the layout of the whole industry chain, until the emergence of space and time.

Space-Time Daoyu is positioned as a provider of aerospace information and communication infrastructure and application solutions, covering the entire industrial chain from satellite R & D, manufacturing to application. "To use a popular analogy, Huawei provides ground-based information and communication products (ICT), while Space-Time Daoyu provides space-based information and communication products (AICT), both of which are dedicated to technological innovation and commercial applications in the field of human information and communication."

The rapidly rising space-time universe has been recognized by the capital markets in just five years, and it is reported that the latest valuation has exceeded 10 billion yuan. There is no doubt that a commercial aerospace super unicorn is rushing all the way.

Look at the product early, look at the mass production in the long run

At present, satellite commercialization is entering the era of mass delivery.

Let’s take a look at a set of intuitive data – the Blue Book of China’s Aerospace Science and Technology Activities (2022) revealed that in 2022, China completed 64 launch missions and developed and launched 188 spacecraft. At present, there is still a big gap between the number of 2,067 spacecraft launched by the United States in the whole year.

At the same time, industry data show that 100,000 satellites are expected to be deployed in low-Earth orbit in the future, and China has 30,000-40,000 satellites. Under the influence of factors such as the timeliness limit of ITU frequency declaration, the continuous increase of domestic policy support, and the continuous decline in rocket launch costs and satellite manufacturing costs, the manufacturing and launch of low-orbit satellites in our country is expected to enter an "exponential" growth period in the next five years. However, there is still a gap of 90% in the annual production capacity of domestic micro-satellites. Obviously, satellite manufacturing has become a key link in the development of China’s satellite industry chain.

With the inclusion of satellite Internet in the "new infrastructure", satellite manufacturing has been forced to enter the "industrialization" stage. The traditional production model is difficult to meet the huge demand for capacity for rapid networking, and short-cycle, low-cost, and mass production have become the prerequisites for the industry to accelerate.

Spacetime Daoyu Satellite Super Factory Production Line

"Look at the product in the early stage, look at the mass production in the long run", this is a profound lesson left by the development path of new energy vehicles to the market. The reason is not difficult to understand: in the early days of a segment, the product concept and product positioning determine whether it can be successfully launched into the market, and when the product competition gradually intensifies, the mass production speed and mass production capacity determine whether it can solidly occupy the market.

In today’s era of intelligent travel with integrated heaven and earth, commercial satellites are no exception. The last word for success lies in mass production capabilities. However, it should be noted that commercial satellites still face multiple challenges in large-scale manufacturing, including complex technology, high cost, vertical integration of supply chains, and extremely high quality and reliability requirements.

Among them, the cost has become the first question in front of commercial aerospace companies. According to Morgan Stanley estimates, the manufacturing cost of Starlink satellites is 1 million US dollars/piece, and founder Musk has publicly disclosed that the cost of a single satellite can be reduced to 500,000 US dollars. In contrast, according to the Zhejiang Securities Research Report, the average cost of our country’s low-orbit communications satellites is about 30 million yuan, of which labor costs + manufacturing costs account for about 50%.

The "2022 China Commercial Aerospace Industry Investment Report" shows that since 2015, the number of domestic commercial aerospace enterprises that have been registered and effectively operated has reached 433. Obviously, if you want to break through, you have to master the word "cost", and low-cost satellite manufacturing is the top priority.

The key to low-cost and fast mass production lies in: first, modular design, improve versatility and reuse rate, and shorten the delivery cycle of satellites; second, industrial-grade component replacement and core component self-development can reduce satellite manufacturing costs and simplify the development process; third, flexible pulsation production, taking the production of automobiles as an example, flexible production lines can produce both small-size economy cars and large-size luxury cars. The same is true for flexible production satellites, which can enhance the batch production capacity of satellites.

At present, Spacetime Daoyu may be the industry’s breaker. Compared with OneWeb, which is located in the first echelon of the global commercial aerospace industry, it is learning from the Airbus Group’s aircraft production line and assembling production in an assembly line to reduce costs and increase efficiency. Relying on Geely, Spacetime Daoyu was born with automobile manufacturing genes and took the lead in building a satellite super factory. It is the world’s first satellite mass production factory that deeply integrates aerospace manufacturing and automobile manufacturing. Through satellite mass production and intelligent manufacturing, it can help the global constellation network quickly.

It is understood that the Spacetime Daoyu Satellite Super Factory draws on the large-scale mass production manufacturing models such as intelligence and automation in the automotive industry to realize the disruptive innovation of satellite mass production AIT. Through modular design, flexible production, intelligent manufacturing and other technologies, and the use of parallel production in assembly lines, the design and production cycle of satellites can be greatly reduced, while the manufacturing cost of satellites can be greatly reduced.

As a fruitful integration of engineering capabilities in the aerospace and automotive industries, the effect is equally obvious. At present, the factory has broken through the production capacity limit of traditional satellite manufacturing, and can achieve a satellite production cost reduction of about 45% per day, which helps the constellation rapid networking construction. At the same time, by adopting a flexible production method, the factory can flexibly meet the final assembly, integration and testing of satellites of different models and specifications such as communication, navigation, and remote sensing satellites, and meet the needs of different types of constellation rapid networking construction.

With its strong mass production and delivery capabilities, Spacetime Daoyu also successfully fired the first shot of "heaven". In April 2022, Spacetime Daoyu completed the development of the first orbital surface satellite of the low-orbit future travel constellation. And in June of that year, it was successfully launched into orbit with a single arrow of 9 stars at the Xichang Satellite Launch Center, becoming another milestone in the history of China’s commercial satellites.

It is reported that in addition to manufacturing satellites for the future travel constellation of Spacetime Daoyu, its satellite super factory is also providing satellite batch production and one-stop in-orbit delivery services for industry partners, helping to rapidly build China’s satellite constellation and accelerate the rapid development of the satellite industry chain.

Without a doubt, facing the challenge of global satellite large-scale manufacturing, Space-Time Daoyu has already broken the industry boundaries by fully borrowing from the mature mass manufacturing concept of automobiles, thus achieving cost reduction and efficiency increase, and promoting China’s satellite manufacturing into the era of industrialized large-scale production.

Here comes another trillion-dollar race track

As the upstream of the commercial aerospace industry chain, satellite manufacturing will benefit first, and the next stop will definitely return to the "commercial" essence.

According to iiMedia consulting data, since 2015, China’s commercial aerospace market has grown rapidly, with an annual growth rate of more than 20% from 2017 to 2024. At the same time, according to Tabor Think Tank, the size of China’s commercial aerospace market will reach 2.80 trillion yuan by 2025. How can start-up companies get a share of the pie?

As we all know, commercial aerospace is a hard technology. In order to survive and develop, it is necessary to break the tradition and achieve disruptive innovation. And innovation is not only technology, but also business models and mechanisms. Therefore, in addition to building business systems based on satellite constellations, there is a need for practical commercial scenarios, which must be enough to cover the huge constellation construction costs.

More generally, for commercial aerospace, if technology is the foundation, then the construction of the industrial chain and the construction of the business ecosystem are the driving force for the development of the industry. Only when technology and business "walk on two legs" can enterprises go further.

Wang Yang has previously mentioned that the market-oriented mechanism has put forward higher requirements for private commercial aerospace, not only to achieve technological innovation, but also to make aerospace technology serve human production and life, and promote the economic development of human society. "Policies, market demand and other favorable factors are promoting our country’s commercial aerospace from manufacturing-driven to an era of comprehensive application traction."

Looking back at the history of commercial aerospace development, there are many losers. For example, Motorola’s Iridium plan, which lacks a correct judgment of the development potential of mobile communications, has suffered bankruptcy. In addition to Iridium, OneWeb also filed for bankruptcy in 2020 due to the impact of the epidemic on the normal operation of the company, unable to obtain financing. The reason is that due to the lack of large-scale commercial application scenarios, it is difficult to support its huge constellation construction and operating costs.

Because of this, what the Spacetime Daoyu team is doing is a commercial practice, not a scientific engineering experiment. What they want to do is to make the application of aerospace technology more simple and friendly, adapt to user requests, and make products more affordable. To be more straightforward, it is affordable for everyone. To this end, Spacetime Daoyu has made great efforts in satellite applications and has become the first commercial aerospace enterprise in China to achieve commercial closed-loop.

Among the many application scenarios, mobile phone satellite communication is detonating the industry trend. In recent years, Huawei and Apple have launched mobile phones with satellite communication functions. The reason why these consumer products can directly connect to satellites is to conform to the upcoming 6G era. 6G will have a new application scenario of "ubiquitous connection", and satellites will enable mobile communication to truly realize all-terrain and all-space three-dimensional coverage connection. CCTV previously reported that according to incomplete statistics, as of September 2023, the size of our country’s satellite communication market is around 80 billion yuan.

Space-time Dao Yu has also been forward-looking layout.

With its excellent satellite mass manufacturing capabilities, Space-Time Daoyu will have the ability to form network constellations faster than other commercial aerospace companies. They are building the world’s first low-orbit future travel constellation to serve the future travel ecosystem by deploying the whole orbit, and it is the world’s first commercial communication, navigation and remote sensing integrated constellation. The first orbit has been deployed, and nine satellites have been in orbit for more than one year. It plans to launch 02 sets of satellites in the constellation in early 2024 to complete the deployment of the second orbital plane. In 2025, the launch and deployment of 72 satellites in the first phase of the constellation will be completed, providing satellite application services for global users.

In addition, the "Space-Time Daoyu – Peking University Advanced Communication Joint Laboratory" was jointly established with Peking University, and the two sides are committed to conquering the core technology in the future communication field – while the same-frequency full-duplex communication technology. The satellite network is an important part of the future 6G. The two sides will jointly develop full-duplex communication low-orbit satellites, promote the on-orbit verification of this technology, synchronously promote the formulation of industry standards, and accelerate the implementation of industrial applications.

Of course, in the era of intelligent travel with the integration of heaven and earth, the car is the scene that cannot be ignored the most. Space-time Daoyu also gave a bright transcript – it is the first domestic aerospace product to achieve the standard R & D and mass production of vehicles, and the first commercial aerospace company to realize the large-scale application of vehicle satellite communication and high-precision positioning at the same time.

Specifically, Space-Time Daoyu innovatively introduced satellite communication services into new energy mass-produced vehicles, and launched the world’s first mass-produced satellite communication passenger car in conjunction with Polar Krypton to provide two-way satellite messaging and satellite call services. Its satellite-based high-precision positioning service (PPP-RTK) also achieved the world’s first large-scale on-board. During the Hangzhou Asian Games, Space-Time Daoyu provided high-precision positioning, satellite communication, and remote sensing technical support. By equipping nearly 2,000 officially designated vehicles for the Asian Games with Space-Time Daoyu high-precision positioning products and services, it realized accurate vehicle management and scheduling, and the cumulative guarantee mileage exceeded 2.02 million kilometers.

For the space-time universe that aspires to space, the pace of exploration cannot be stopped. Looking to the future, commercial aerospace is a global industry, so domestic commercial aerospace enterprises must take the initiative to go out and improve their international competitiveness. Only in this way can we promote the globalization of China’s commercial aerospace industry.

In fact, many commercial space companies and even countries around the world do not have the ability to independently build satellite constellations and carry out satellite internet services. Therefore, if Chinese commercial space companies can actively expand overseas business by building their own constellations, they will inevitably achieve new business growth.

It will not only provide satellite application data services for SCO countries and countries along the "Belt and Road Initiative", but also cooperate with Malaysian telecom operator Altel to promote high-tech research and development and system application, accelerate the implementation of solutions in smart ports, smart agriculture and other fields, and promote the globalization of satellite applications.

From building its own constellation and ground systems, to mass manufacturing of satellites, large-scale application of satellites, and rapid expansion of overseas markets. The purpose of Space-Time Daoyu is to close the loop of commercial applications in the aerospace industry, from completing the layout of the entire industrial chain to having continuous self-hematopoietic capabilities.

Today, Spacetime Daoyu has formed a R & D system with Shanghai Research Institute as the core and R & D centers in Nanjing, Xi’an and Wuhan as the support; has two business operation headquarters in Guangzhou and Qingdao; established business centers in Beijing and New York; established a satellite super factory in Taizhou, Zhejiang as a satellite manufacturing base; and laid out a global constellation measurement and operation control network. At the same time, we have implemented the global "Belt and Road Initiative" strategy and continued to promote the business implementation of "Belt and Road Initiative" countries and regions such as the Middle East and South East Asia.

Write at the end

Konstantin Tsiolkovsky, the Soviet rocket pioneer, once said: "The earth is the cradle of mankind, but mankind cannot be bound to the cradle forever, but will constantly explore new celestial bodies and spaces, and will begin to carefully penetrate the atmosphere and then conquer the solar system."

Looking back at history, in 1957, the world’s first man-made earth satellite was successfully launched, marking the official start of the human space age; and then in 1970, our country’s first satellite "Dongfanghong No. 1" was launched, playing music in space, and creating countless people’s indelible memories; today, a group of new space blood, like space and time, are still embarking on an unknown journey in the vast universe.

As Wang Yang, CEO of Spacetime Daoyu, said, "Aerospace is the most romantic industry, and it carries the dream of human beings to explore the universe."

The original title: "Trillion Aerospace Runs Out of a Super Unicorn"

Read the original text

Wuxi Zhijia Operation Service Center officially put into use.

&emsp; &emsp; On October 20th, 2023 Wuxi Intelligent Networked Automobile Ecology Conference, the frontier dialogue session of the 2023 World Internet of Things Expo, was held in Wuxi Economic Development Zone. At the meeting, Wuxi Zhijia Operation Service Center and Intelligent Networked Automobile and Vehicle Networking Joint Laboratory were officially put into use. Many experts in the field of intelligent sensors and representatives of upstream and downstream ecological enterprises in the industrial chain discussed new technologies, new applications and industrial development ideas around the development trend of intelligent networked automobile and automobile semiconductor industry, innovation and application of key technologies of sensors, chip technology breakthroughs and other related topics.

&emsp; &emsp; In recent years, Wuxi has deeply implemented the leading strategy of strengthening the city by industry and the core strategy of innovation-driven, taking the Internet of Vehicles and intelligent networked vehicles as the main direction in the field of Internet of Things, built the first national-level vehicle networking pilot area in China, and won the first batch of pilot cities for the coordinated development of smart city infrastructure and intelligent networked vehicles in China.

&emsp; &emsp; Wuxi Economic Development Zone, as the core plate of Wuxi intelligent networked automobile application and industrial development, actively seized the "new track" for the development of intelligent networked automobile industry, focused on "333+5" modern industrial clusters such as Internet of Things and artificial intelligence, targeted the intelligent networked automobile and car networking industry, and successively released a number of industrial plans such as intelligent networked automobile, energy storage and new energy, and integrated circuits, and gathered a number of industrial ecological enterprises such as Cheliantianxia, Iflytek and Konoway.

(2023 Wuxi Intelligent Networked Automobile Ecology Conference Site)

　　At the meeting, Ding Rongjun, academician of China Academy of Engineering, chief scientist of CRRC and dean of School of Mechanical and Transportation Engineering of Hunan University, delivered a keynote speech entitled "Coordinated Development of Power Semiconductor and System Technology for Intelligent New Energy Vehicles", sharing new ideas around the demand of new energy vehicles for electric drive systems, technical characteristics and applications of power devices, and technical trends of power semiconductors in the future.

(Wuxi Zhijia Operation Service Center and Intelligent Networked Automobile and Vehicle Networking Joint Laboratory officially put into use)

　　Wuxi Zhijia Operation Service Center and Intelligent Networked Automobile and Vehicle Networking Joint Laboratory were officially put into use at the meeting, injecting new development momentum into Wuxi Intelligent Networked Automobile Eco-industry.

　　It is reported that Wuxi Zhijia Operation Service Center plans to build four centers: Intelligent Networked Business Service Center, Intelligent Networked Supervision and Operation Center, Intelligent Networked Car Parking and Maintenance Center and Intelligent Networked Simulation Test Center, so as to build a full chain service system of intelligent networked industrial chain. The intelligent networked automobile and vehicle networking joint laboratory will focus on building the world’s leading component-level antenna test system, the first domestic test system supporting 5G-V2X, the C-V2X test system with independent intellectual property rights, and the electromagnetic darkroom supporting millimeter waves, aiming at serving intelligent networked automobile and vehicle networking enterprises and promoting industrial development.

　　In the release of intelligent networked automobile new products, the Automobile Sensor Branch of China Automotive Engineering Society released the report framework of sensor series selection, Wuxi Chelian Tianxia Information Technology Co., Ltd. released the remote Xinghan H-X9 intelligent cockpit domain controller, and Wuxi Intelligent Control Research Institute of Hunan University released the mine intelligent driving system.

(Signing Ceremony of Intelligent Networked Automobile Ecological Project in Wuxi Economic Development Zone)

　　During the conference, 12 intelligent networked automobile eco-chain projects, such as leading microelectronic vehicle-level communication chip project, automotive acoustics intelligent electronics project and Moji Zhixing two-wheeled vehicle intelligent project, were officially signed, covering vehicle-level chip, active noise reduction, sensor product testing and other sub-industrial fields.

　　"This conference will share development experience and discuss development plans, which will promote the comprehensive construction of a higher energy level, better quality and more distinctive car networking industry ecology, and lead the accelerated development of the intelligent networked automobile industry. Wuxi will vigorously support cutting-edge teams and key enterprises at home and abroad to settle down and take root in Wuxi with stronger and more comprehensive policy support, more intimate and professional government services, and warmer and more personalized talent services. " Jang Jin, vice mayor of Wuxi, said.

　　The theme of the 2023 Wuxi Intelligent Networked Automotive Ecology Conference is "Networked Intelligence, Sensing the Future". There is an ecological conference and two sub-forums on intelligent electric vehicle sensors, domain controllers and intelligent cockpits, attracting more than 300 representatives from universities and research institutes, intelligent networked automotive eco-enterprises and investment institutions to attend the conference. (Yin Qing)

Liu Xiaolan, Vice President of TCL Huaxing： Panel demand recovery continues to lay out folding screens and car screens.

China Securities Network News (Reporter Wan Yu) Liu Xiaolan, vice president of TCL Huaxing, a subsidiary of TCL Technology, said in an interview with china securities journal recently that on the whole, the panel industry will continue to recover in demand this year, and TCL Huaxing will need to fix production, maintain healthy inventory and optimize the supply chain system to ensure delivery when the market changes. At the same time, TCL Huaxing will continue to lay out and maintain a high growth rate in the fields of fast-growing folding screens and car screens. 　　

Since the fourth quarter of last year, panel prices have continued to rise, and the panel industry has attracted the attention of investors. According to the research report of Huaxi Securities, the price of TV panels in early March is close to the high price in September last year. Due to the better downstream demand expectation and the early stocking of the whole machine factory, the current supply and demand are still tight. Huaxi Securities expects that the price of TV panels will still rise in the second quarter, and the price of TV panels is expected to break through the high level last year. 　　

Regarding the trend of the panel industry, Liu Xiaolan thinks that with the moderate economic recovery in China and the downward inflation in Europe and America, the overall purchasing power of consumers is rising, and the sales of TV, notebook computers, monitors and other products will be driven by the superposition of domestic "618" and summer holidays. On the demand side of the panel, she predicts that this year will be more optimistic than last year. On the supply side, panel enterprises have generally changed their business philosophy, from pursuing full production and full sales to fixing production according to demand. As a whole, the inventory of the panel industry is relatively healthy, and the panel price is relatively stable, so there is no more ups and downs. 　

She introduced that TCL Huaxing will pay close attention to the changes in demand and ensure the flexibility of factory production, so that it can timely respond to the adjustment of production brought about by changes in the market. As a head enterprise, TCL Huaxing has built its own moat in the upstream supply chain. The company will also give full play to this advantage, continue to strengthen cooperation with the upstream supply chain, especially the strategic partners of key materials, establish strong links, share information, optimize the supply chain system, and ensure that TCL Huaxing’s factory can respond to uncertain situations in time and ensure the delivery of the whole supply chain. 　　

TCL Huaxing is also actively deploying in the fast-growing sub-categories such as folding screens and car screens. Liu Xiaolan said that folding screen mobile phones have become a fast-growing segment of mobile phone products in recent years. TCL Huaxing has launched a number of folding screen products, and has industry-leading technologies such as LTPO and PLP. On the one hand, the company will continue to make breakthroughs in folding screen technology in the future, reducing the weight and thickness of the screen, extending the battery life and service life. On the other hand, it will start with materials and design, reduce the cost of folding screens, and make folding screens more widely used in mobile phones, tablets, laptops and other products. 　　

TCL Huaxing’s shipments of in-vehicle screens also maintained a high growth trend. TCL Huaxing did not enter the in-vehicle field for a long time. Last year, the shipments were about 5 million pieces. Although the shipments were not large, the growth rate was large, which doubled and reached the first place in the industry. "In the past, we only made efforts on high-end car screens. At that time, we didn’t have a production line of amorphous silicon," Liu Xiaolan said. "After the mass production of t9 production line last year, we developed a lot of amorphous silicon car displays, and we will catch up with them at a very fast speed." 　　

Japanese publisher： Three-body is out of stock, which makes more readers understand China’s novels.

　　As soon as it was listed, it sold out of stock, and "Three-body" was greatly loved by Japanese readers.

　　On July 4th, the Japanese version of "Three-body" went on sale, and some bookstores quickly sold out, ranking first in the list of Japanese Amazon literary works. To this end, the largest science fiction publishing house in Japan, which is responsible for the Japanese version of Three-body — — Hayakawa’s study room had to quickly explain on social media that "we are grasping the third printing, please wait a little".

　　"Earth-shattering science fiction covering all aspects of human history", "Once you start reading, you can’t stop, please translate the sequel quickly" and "unparalleled imagination is really amazing" … … As early as the previous trial reading meeting, Japanese writers and screenwriters, including Hideo Kojima, Hiroki Azuma and Y? Irie, the top game designers in Japan, gave high praise, and the waist cover of the novel was full of recommendations from big coffee in the industry.

　　With the Japanese version of Three-body released, Hayakawa Study also held exhibitions and sales meetings of Chinese science fiction and reasoning works in major bookstores, involving works such as short masterpieces 1-3 and Rebirth by China science fiction writer Liu Yukun, Sacrifice of Spring in the First Year by Lu Qiucha, Beijing Folding-Selected Works of Modern China Science Fiction, and Variations by Diogenes by Chen Haoji.

　　SF magazine, a science fiction magazine owned by Hayakawa Study, will also publish some works of China science fiction writers and articles written by three scholars on Three-body and China science fiction in its August issue with the theme of "Three-body and China science fiction writers".

　　Can the popularity of "Three-body" open the China science fiction craze in the Japanese market? The Paper interviewed Yamaguchi, editor-in-chief of the "Three-body" project team in Hayakawa Study Room, and talked about the development and present situation of Japanese science fiction and his understanding of China’s science fiction.

　　[Dialogue]

　　The PaperHow did you feel when you first read Three-body?

　　Yamaguchi crystalI once read Liu Cixin’s short stories and thought that the author might be a genius. After watching "Three-body", I believe he is a real, real genius! Reminds me of my feelings when I read The End of Childhood by Arthur C. Clarke (Arthur C. Clarke) or Base Series by Isaac Asimov (isaac asimov) when I was young. Three-body is what I want to see.

　　The Paper: What touched you? How do you understand the "naokou" in the novel?

　　Yamaguchi crystalExcellent storytelling ability and the author’s deep understanding of history, science and philosophy, and the perfect combination of the three. The beauty of Three-body is not only technology and knowledge, but also Liu Cixin’s powerful imagination, which constantly surprises readers and always exceeds our expectations. After Three-body won the Hugo Award in 2015, it took us three years to win the copyright of this novel in Japan.

　　"Naoko" is like a metaphor against progress, rationality and peace in the real world. There are always things like Naoko in our society.

　　The PaperHow do you interpret the relationship between "earthlings" and "threesomes"?

　　Yamaguchi crystalI am not in favor of parallelizing or comparing the relationship between "earthman" and "three-person" with the relationship between China (or Asian) culture and western culture. It has a more universal meaning, which can be "new and old", "poor and rich", "small and big", or just "human and aliens". It is precisely because of this universality that "Three-body" is more entertaining and meaningful and has become a global bestseller.

　　The PaperDo you have any expectations for sales?

　　Yamaguchi crystalWe hope to sell 1 million copies of the first volume, but the goal at this stage is 100 thousand copies.

　　The PaperCan you introduce SF magazine and its influence on Japanese science fiction?

　　Yamaguchi crystalAs early as 1959, Hayakawa study room founded SF magazine, which is the second oldest science fiction magazine in the world. For decades, it has trained a large number of Japanese science fiction writers.

　　Japanese science fiction began to sprout and develop under the influence of American science fiction. The first issue of SF magazine published the works of Arthur C. Clarke (Arthur C. Clarke), Issac Asimov (isaac asimov), Philip K. Dick (Philip K. Dick) and Robert Sheckley (Robert Sheckley), which inspired and enlightened many young people who wanted to be novelists. In addition, writers such as Robert A. Heinlein (Robert A. Heinlein), Kurt Vonnegut (Kurt Vonnegut Jr.), Ray Bradbury (ray bradbury) and William Gibson (William Gibson) are often introduced and mentioned, thus influencing a group of Japanese science fiction writers, whose works and influence are still popular and exist among readers.

　　The PaperWhat is the development of Japanese science fiction? What are its characteristics?

　　Yamaguchi crystalThe characteristics of Japanese science fiction are very diverse, and each generation of authors has its own distinctive characteristics. For example, the first generation of science fiction writers in 1960s, such as Sakyo Komatsu (Komatsu sakyo), Shinichi Hoshi (hoshi shinichi) and Yasutaka Tsutsui, Yasutaka Tsutsui, will surprise you when reading their works. Komatsu sakyo is famous for hard science fiction, while hoshi shinichi’s stories have fable-like flashes. Yasutaka Tsutsui is characterized by experimental novels that play abuse.

　　Most of the first-generation writers have passed away. The second-generation writers in the 1970s, the third-generation writers in the 1980s, and the fourth-generation writers in the late 1980s and 1990s are still active in the literary world, publishing various types of works, such as hard science fiction, space opera, fantasy, military adventure, humor, Cyberpunk, literary science fiction and light novels.

　　Japanese science fiction experienced what we call the "severe winter" in the 1990s, but in the 21st century, a new generation of writers such as Project Itoh (Project Itoh), Hitotaka Tobi (Fei Haolong), Ogawa Yishui and Toh Ubukata (Tou Ubukata) appeared, and Japanese science fiction became popular again. In particular, Project Itoh’s "Killing Organs" and "Harmony" are the milestones of the revival of Japanese science fiction.

　　In addition, Japanese science fiction is closely related to comics, animation and video game industries, and classic cartoonists such as Osamu Tezuka and Reiji Matsumoto were influenced by the early science fiction movement. Even in this century, film directors such as Makoto Shinkai (Makoto Shinkai, masterpiece Your Name) and Sunao Katabuchi (film must be straight), and game producers such as Hideo Kojima (Hideo Kojima, masterpiece Metal Gear Series) are also loyal fans of science fiction.

　　The PaperWhat is the popularity of Japanese science fiction in the market at present?

　　Yamaguchi crystalIf we only talk about the publication of science fiction books, we can’t say that it is very big. The sales volume has been relatively stable and there are fixed readers and fans. However, if anime and animation are included, the market is huge. Many cartoons and animated films and TV programs have sci-fi elements, such as robots, time travel, future world and so on.

　　However, these readers are very loyal to science fiction. They have their own reading and study groups, and they also organize activities and vote for awards. Every year, the fan group votes for the Seiun Award (the most sci-fi work and novel award in Japan), which is equivalent to the nebula award in the United States. It is also very active on social media.

　　The Paper: which countries and themes of science fiction are more popular? What are the criteria you choose?

　　Yamaguchi crystalScience fiction in China is very popular, and we expect that science fiction in non-English speaking areas will be the next trend. Asian science fiction mainly comes from China, and it will be a development window in the next two to three years. I hope so. There are many themes, and it is hard to say which ones are the most popular, but topics such as artificial intelligence, feminism, brain-computer interface, human-computer interface, dystopia, monitoring, robotics, information pollution, thinking uploading, genetic modification and space exploration will all have great attention and importance.

　　We always pay attention to sales data and marketing data, but these figures can only explain what readers want now, not next year or five years later, which requires our professional to judge and predict the future trend. In the selection of works, in addition to Japanese local science fiction, we have also established a good cooperative relationship with Science Fiction World in Chengdu, China. Science Fiction World will also recommend some short science fiction novels from China to us, and we will also consult some of our own science fiction writers.

　　The PaperWhat impression did China’s science fiction leave on you? Are there obvious characteristics differences between Chinese and Japanese sci-fi works?

　　Yamaguchi crystalThe three most obvious characteristics that China’s science fiction gave me are: first, a strong imagination; Second, anxiety about the rapid growth of economy and technology; The third is the nameless fear for the future. As for the differences between the two countries, I haven’t read enough China science fiction novels to discuss the differences, but in my opinion, Cyberpunk has a greater influence on Japan, while the proportion of hard science fiction in China’s science fiction novels will be larger.

　　The PaperJapanese science fiction writer Rihara Toye once said that "Japanese science fiction can’t be as influential as China’s science fiction because we don’t have Liu Yukun (English translator of Three-body)". What do you think of this statement?

　　Yamaguchi crystalThat’s for sure. Japanese science fiction needs translators like Liu Yukun too much. In addition, I am very sure that the level of some Japanese writers has reached the standard of the world’s top science fiction writers, but for now, we really haven’t seen any science fiction writer who has such a great influence in the world like Liu Cixin.

　　The PaperWhat impact will the hot sale of "Three-body" in Japan have?

　　Yamaguchi crystalThere is no doubt that Japanese readers will want to read more China novels. We also firmly believe that Three-body will become a best seller. Hayakawa Study also plans to invest more money to develop the China book market. We hope that not only readers of science fiction, but also other engineers, scientists, researchers, scholars and intellectuals will learn about China’s novels. (The Paper reporter Xu Minghui intern Xu Hangyan)

Rural teachers issued a document pointing to formalism and were led to meet the local county government late at night to respond.

CCTV News:On October 10th, Li Tiantian, a female teacher of Taozixi School in Yongshun County, Xiangxi Prefecture, Hunan Province, published an article entitled "A Group of Rural Children Being Destroyed" in her WeChat official account. The article mentioned: "Since the beginning of school, the school has conducted inspections almost every week, and we will take students to clean up every two days. It is common to suspend classes and sweep the floor. My Chinese class has stagnated. Sometimes it is even necessary to sweep the floor two or three days in advance, sweeping it around, treating the symptoms rather than the root cause. After the inspection, the students’ behavior habits are still the same. In addition, teachers have to visit to help the poor. I have five poor households, so I have to contact them frequently. No, this weekend, teachers will visit the team again, calculate the income of ordinary people, collect and sort out information, and fill in all kinds of materials. There were several times to check the emergency, and our teacher had to stop classes and go to the government to work overtime, leaving the classroom empty. "

The leader made an appointment late at night because he issued a document pointing to formalism.

On the evening of October 15th, Teacher Li Tiantian sent a message to a circle of friends, saying, "The bureau called and asked me to rush to the city immediately, because the director wanted to see me and discuss how to deal with the article, saying that it had brought them great losses! What should I do? "

Li Tiantian, female teacher of Taozixi School, Yongshun County, Xiangxi Prefecture, Hunan Province:The county also gave me a job, which means that I wrote the truth, but it is detrimental to the image of teachers. As a public official, I can’t send it like this. Then, they kept urging me to delete it. The principal said that if you didn’t delete it, all major media reporters would come to the school to cover it, which was too stressful. I thought about it and deleted it.

With the heat of the incident escalating, the main leaders of the Xiangxi Municipal Committee affirmed Li Tiantian’s move and her personal situation improved. State leaders criticized the Yongshun County Education and Sports Bureau for using relatives to pressure and talk late at night, and promised that the county education and sports bureau would not make things difficult for Li Tiantian again, which would not affect its future development.

Li Tiantian, female teacher of Taozixi School, Yongshun County, Xiangxi Prefecture, Hunan Province:The whole process of the incident is that after I wrote the article and posted it to myself in WeChat official account, there were thousands of readings, and many netizens added my WeChat at the beginning, saying that it was well written and true. Netizens from all over the country recognized that what I wrote was similar to their local situation, and they themselves were caught in this dilemma.

Reporter:Are you worried?

Li Tiantian:A little worried.

Reporter:Do you have any future plans, or do you want to stay in this school?

Li Tiantian:Yes, because I had thought about leaving here, but the parents in our class kept me, but they still didn’t want me to leave, hoping that I could take their students out of school. Now it’s the fourth grade, so I’m very reluctant. Besides, I’ve been teaching with that student for two or three years, and I have feelings for him.

Reporter:In fact, a lot of disappointment, this matter may have a certain impact on you these days.

Li Tiantian:These influences, which others will not know, are very subtle. Leaders always say, I will reassure you, what are your needs and requirements. Including the leaders above are very concerned about you, but in fact many changes are subtle.

On the 21st, the commentator of Half-monthly Talk published a comment entitled "Please leave a quiet desk for Li Tiantian", saying that as a grass-roots party and government leader, we should focus on solving problems, not solving people who reflect them.

Li Tiantian: It’s a bit lonely to go to work normally.

Recently, some media reported that teacher Li Tiantian was cut off from her job at school after posting a critical article on formalism. So, what is her situation now? Why did she post at that time?

Li Tiantian, a teacher at Taozixi School in Yongshun County, Xiangxi Prefecture, Hunan Province:This is a report error, the workload is not reduced but adjusted, but the teachers in our school have adjusted. At present, my life has not been affected, and I go to work normally. I just say that you have such a thing, and everyone is afraid of being implicated. Maybe many people will not say how they want to play with you. Some people think that I have affected the year-end performance appraisal. Because of the pressure of public opinion, no one is embarrassed, but the situation is still relatively lonely.

For me, writing something like that is out of an instinct, and a subconscious is supporting me to do such a thing. This pressure is not borne by me alone. At that time, he asked me to sign and admit that my words were one-sided. I was only targeting a school. Recently, many netizens added me and sent me text messages, and they also confided in me, saying that you expressed our feelings, saying that it is the same here. There are countless inspections, large and small, and a lot of energy is spent on the inspection, various materials and forms. For example, netizens in Shandong, Henan and all over the country added me, and they all talked about this matter.

That article only put forward some suggestions on the current situation of education, why it caused such a sensation and made leaders so nervous. I think there are still many problems, that is, why it is true, and why many people don’t want to talk about it to our teachers, but they dare not talk about it, which is why it has become like this.

The local county government responded that an investigation team has been set up.

These days, a rural teacher in Yongshun County, Hunan Province, published a document criticizing the formalism of rural primary schools, which attracted many people’s attention. Although the article was issued on October 11 and was deleted that night, the development of the matter and related responses and responses have always made progress. The day before yesterday (20th), there was a response from the local county government office, which said: "Yongshun County has set up an investigation team led by the Supervision Committee of the County Commission for Discipline Inspection to investigate the problems reflected by Teacher Li Tiantian and the media, and the problems found in the investigation will be rectified in time and dealt with seriously, and the results will be announced in due course."

Two major beauty giants bet on China, making beauty technology a ＂battleground＂？

A few days ago, Shiseido (China) Investment Co., Ltd. added an investment enterprise-Xiamen Ziyue Equity Investment Partnership (hereinafter referred to as "Xiamen Ziyue"). It is understood that the registered capital of the company is 501 million yuan, and its business scope includes engaging in equity investment, investment management, asset management and other activities with private funds. It is noteworthy that on May 8th, L ‘Oré al Group officially announced the establishment of its first investment company in China market-Shanghai Meicifang Investment Co., Ltd. (hereinafter referred to as "Meidifang Investment") with a registered capital of 100 million yuan.

Beauty cosmetics technology leads the new wave

Although the L ‘Oré al Group and Shiseido have not disclosed the investment plans and targets, L ‘Oré al once said: "The strategic transformation of beauty technology is very important to us." According to official website, the beauty technology strategy refers to making changes in product innovation, omni-channel marketing, and enhancing enterprise agility by using technology and digital innovation. In addition, Bai Pu Le, Chief Financial Officer of L ‘Oré al Group, said that China is strategically important to L ‘Oré al Group, which is not only the key growth engine of the Group, but also one of the sources of inspiration for leading future innovation.

With the rapid development of online consumption channels and the impact of the epidemic on physical channels, AI/AR virtual makeup test, smart beauty mirror, smart skin tester, 3D printed lipstick and other products have attracted the curiosity of many consumers.

In 2014, L ‘Oré al launched the virtual makeup mirror Makeup Genius. With the help of augmented reality technology, users can see the makeup effect after using the product before buying it. This is the first test of AR technology in the beauty industry. Subsequently, major beauty brands at home and abroad began to try "beauty+technology". Shiseido has developed the invisible VR project "caico", which makes use of the interactive features brought by virtual reality, so that consumers can get the immersive experience of product interaction when they can’t directly touch the product, for example, they can smell the smell directly and satisfy consumers’ understanding of product information. In addition, at the 2020 China International Import Expo(CIIE), Estee Lauder launched an expert skin diagnostic instrument, which can make a comprehensive skin diagnosis for consumers with the help of AI technology.

It is worth noting that before the "Double Eleven" in 2019, Alibaba Tmall Beauty Channel launched the AR beauty function. The data shows that after trying AR beauty cosmetics, the customer conversion rate of makeup testers has increased by four times, compared with only two times that of pictures and videos. According to the Foresight Report on the Application of Science and Technology in Beauty Industry in 2025, under the traditional format, the beauty industry in China will develop steadily and reach a market scale of 620.35 billion yuan in 2025. If there is technology empowerment, the industry scale will reach about 1 trillion yuan in 2025.

Jean-Paul Agon, chairman of L ‘Oré al Group, once said that digital technology is compatible with the beauty business. "Beauty products are very expressive, and consumers are also very young. They like to take selfies with their mobile phones, broadcast live, virtual hair dyeing and color testing. These new services that incorporate technology are very suitable in the field of beauty." He also said that the L ‘Oré al Group’s digital budget is growing rapidly, and "digitalization" has become one of the key words of the Group’s development.

Collision with technology, the "magic weapon" for beauty companies?

With the increasing penetration of digital and virtual technology into every scene of daily life, beauty technology is gradually becoming the "magic weapon" of the industry.

In 2019, Neutrogena, a skin care brand under Johnson & Johnson Group, released a miniature 3D mask printer-Mask ID. According to reports, this mask printer uses the function of 3D camera, and users can create an accurate multi-dimensional face model by taking selfies. The 3D printing process can print nutrients on the precise area of the mask, providing an accurate skin care experience.

In 2021, Kose also brought a "customized mask" to China International Import Expo(CIIE). By scanning consumers’ faces, the customized mask can be printed on the spot, and different brands of lotions can be adjusted and matched according to everyone’s different needs, so as to achieve differentiated and fine services. At the same time, Kose also launched a Nail Printer jointly developed with CASIO. This device can identify the shape, bending degree, outline and other information of nails and directly print out the fitted nails. Consumers just need to put their fingers into the machine, choose a pattern they like, and press the button, and the machine can spray the pattern on their nails.

YSL, a brand of L ‘Oré al Group, displayed PERSO, the world’s first concept product of customized cosmetics for home use, at China International Import Expo(CIIE). Users can mix lipstick colors according to their own preferences. Today, PERSO has been commercialized, and the "YSL ROUGE SUR MESURE" Saint Laurent beauty cosmetics "lipstick printer" is officially on sale. It is reported that the price of "machine+two-color system" products is 3910 yuan.

Nowadays, the collision between beauty and new technologies is becoming more and more fierce, and AR/VR, AI and 3D printing technologies are more widely used. Improving the experience and meeting the individual needs of consumers have become areas that beauty companies are actively exploring.

Beijing News Shell Finance reporter Yu Menger

Editor Jake

Proofread Chen Biyan

IC photo with closed picture

US media： Without Damian Lillard, the Heat would be fine!

Will star guard Damian Lillard finally join the Heat? This is his first choice to leave Portland. Although this situation has been delayed for two months, it is still possible to reach this deal sometime this summer.

However, although it seems only a matter of time, all expectations and rumors are to send him to Miami, there is still reason to doubt what the defending Eastern Conference champion Heat will look like if Lillard unfortunately goes elsewhere at the beginning of the 2023-24 season.

First of all, I want to ask what the players who have been rumored to be involved as chips, such as Tyler Herro and Kyle Lowry, will think when the trade comes out all summer. (It is widely reported that a tripartite transaction is almost certainly needed to facilitate the Lillard transaction between Miami and Portland. ) Lori performed well in the playoffs, and the Heat ranked eighth all the way to the NBA Finals. But apart from starting the new season at the age of 37, Lori’s efficiency in the regular season is his worst since the 2014-15 season. As for Hiro, he can explode occasionally, and of course he can score by himself. But no one will doubt his value to the team. Miami was a tough defensive team at its best. Even after the first game of the first round of the playoffs, they reached the finals as a weak team.

We should expect Eric Spoelstra’s team to maintain a tough defense, as they have always done, using defense tactics much more than other teams. However, it is obviously worth pointing out that some key players in the Miami system, such as Max Strus and Gabe Vincent, are now members of the Cavaliers and the Lakers respectively, and they are both important rotation players. Except that they fully understand and adapt to the Heat’s system, they are all 3D players and never question their resilience and defense. Miami has received endless praise for its internal player development-the Heat have seven players on their NBA Finals list who have not been selected-but it is doubtful whether Josh Richardson or Jamie hax Jr. can replace these two players. Having said that, at least Miami is familiar with Richardson, whose career started with this team. )

If the Heat don’t sign Lillard, perhaps the most noteworthy thing is that it may mean that they will still have to rely on Jimmy Butler next season. He will be 34 years old next month. He went to the Eastern Conference semifinals in the playoffs. After spraining his ankle against the Knicks, his speed slowed down obviously. If the lineup stays the same for six weeks, Hiro and Lori will have a lot of ball control responsibilities. If Adebayor makes greater progress on the offensive end, the team will be happy. (Small forward Caleb Martin made a leap forward last season, and his future self-creation ability may become a factor to change the game. ) But if Lillard didn’t come to Miami, Butler would have to shoulder the responsibility of the best scoring organizer again. To some extent, this is not ideal, because if he has a superstar teammate with scoring and organizational talent, his physical strength may at least be preserved.

It’s hard to imagine that the Heat won’t complete the Lillard deal, considering the fact that the All-Star guard openly asked to go there. Despite being the eighth seed, Miami just won the Eastern Conference championship! Most of the core members of this team remain unchanged. Therefore, the club will almost think that they are trading for Lillard, or not, the team still has a lot of good chips. All these circumstances, but it is still worth considering, if the team does not make a large-scale transaction after this transaction, but continues to fight with the existing lineup.

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