On July 12th, Di Lizheba was a double happiness! First, the "Anle Biography" starring her was airborne and successfully exploded. She herself also appeared in the Dior event, adding to the popularity!

Ren Anle in "An Le Biography" is domineering and agile, allowing drama fans to speak bluntly: Di Lizheba is a good soil, I like it very much.

Di Lizheba attended the Dior dinner, wearing a printed tube top dress that was unparalleled. The Dior official also issued a post to recognize Di Lizheba’s identity, which gave Di Lizheba a face-to-face.

As a Dior partner, Di Lizheba could be said to be a frequent visitor to Dior events. The shape of the day was also quite brilliant. The collision of red and black colors matched Di Lizheba’s own flaming red lips, which was even more dazzling.

Whether it is the refined pictures posted by the studio or the Reuters posted by fans, Di Lizheba has withstood the camera very well. She has also successfully become the focus of the audience, not only the camera follows everywhere, but also the guests who turn into fans and whisper to Di Lizheba as soon as they arrive.

However, Di Lizheba in the refined picture is unparalleled in beauty, but she looks different in the picture of netizens: her face is as rugged as 10 years old, and her back is even more grotesque.

Looking carefully at Di Lizheba’s life picture, her face is thin and smooth, and her facial features are bright and atmospheric. Obviously, she is still a veritable beautiful woman, but her arms are too thin and look a little bumpy.

This time, Di Lizheba did not cover her chest again, but perhaps because the neckline was too low, Di Lizheba still lifted the skirt up. But this time, netizens were not interested in whether Di Lizheba covered her chest, but were attracted by her back.

Looking closely at Di Lizhemba’s back, the shoulder blades bulged very obviously. Although it was not unexpected for a thin person to bulge, Di Lizhemba’s back was too bulging to be ignored.

In this regard, netizens were also quite surprised, and there was a lot of discussion –

Many netizens left messages asking Di Lizheba’s "what’s wrong with her back" and "what’s wrong with her shoulder blades".

Others suggest that Di Lizheba’s shoulder blades are pterygoid and appear hunched from the side.

Change the video and take a picture of Di Lizheba’s side. Although it is not as exaggerated as before, it is obvious that there are still raised marks.

The netizens analyzed that Di Lizheba is a wing-shaped scapula, and she is too thin, so from the side, it is bulging, like a hunchback.

In addition to the bizarre shape of her back like a hunchback, Di Lizheba’s life picture was also taken out, making people feel 10 years older.

In the Dior live stream, some netizens took a screenshot of Di Lizheba’s live stream picture. She was so thin that her shoulders were bumpy, and the skin on her face was hard to describe. Not only was she darker than her body, but the fine lines at the corners of her eyes were also very obvious, and the potholes seemed to be 10 years older.

In other angles, Di Lizheba’s skin condition was equally surprising. Although her skin was as fat-curdled in the refinement picture, it was different in the raw picture.

Even fans expressed disbelief and asked: Di Lizheba’s skin condition, what’s wrong?

In this regard, fans feel that this is a deliberately sharpened picture of the black powder, but netizens who have watched the live broadcast say that this is indeed Di Lizheba’s true picture state. The reason why this effect appears is because Di Lizheba is old, thin, and light.

Di Lizheba’s skin was indeed not very good, and the light was even more so. After changing the light, Di Lizheba’s condition was obviously much better.

Obviously, in another random video, Di Lizheba changed the light, her skin was much smoother and more delicate, and instantly returned to the bright and moving appearance in the refined picture.

In this regard, netizens said that Di Lizheba’s beauty is limited to the soft lighting of the red carpet far-focus lens, the kind that can be vaguely seen in outline, and it will be revealed as soon as it reaches the "death light".

Of course, there were also people who felt that "the life picture of a female star" was completely meaningless. As female stars, their appearance was naturally much better than that of ordinary people, and it was normal that the life picture was not as good as the refined picture.

Responsible editor:

1905 movie network feature On December 27, the premiere ceremony of the movie "Global All the Way" was held in Beijing. Around the premiere event, the movie channel launched a live broadcast of financial media to the whole network. The screenwriter, director, leading star,,,,,, and so on gathered at the premiere, and the "whole life" was continuous and the interaction was non-stop.

During the live broadcast, the host of the movie channel and the reporters were divided into multiple paths, and the life-like joint record of the premiere. Sitting in the "Blue Feather Parlor", the host Lan Yu had an in-depth conversation with Zhuang Wenqiang and Leung Chaowei and Andy Lau, who have cooperated for more than 20 years; during the special session of the M viewing group, the host witnessed the "get rich" scene where the main creator sprinkled "gold coin chocolate"; during the roadshow and in the background of the premiere, the host had interesting conversations with a number of reporters Cai Zhuoyan, Ren Dahua, Chen Jiale and other main creators, and scanned the premiere scene panoramic to share the mood of lucky movie fans.

"Blue Feather Parlor" welcomes big coffee

Tony Leung and Andy Lau send blessings together

As one of the most high-quality film in-depth interview brands, "Blue Feather Club Big Coffee", which returns to the live broadcast of the film channel, has ushered in a real big coffee partner – director Zhuang Wenqiang, who co-created the classic film series more than 20 years ago, and Tony Leung and Andy Lau.

Talking about the reason for the filming of "Goldfinger", Zhuang Wenqiang bluntly said that it was because he felt that "only publicity is not enough" when commemorating the 20 years of the release of "Infernal Affairs", so he asked Andy Lau to talk about the new film plan, but "this time Tony Leung played the bad guy, and Andy Lau played the good guy"! According to him, when the two stars read the script, they also felt that the roles should be played by each other.

Click the link to watch the video: Blue Feather talks to Zhuang Wenqiang, the director revealed that the filming of "Goldfinger" is to commemorate "Infernal Affairs"

After the "Infernal Affairs" series, they played opposite scenes. Sitting together, Tony Leung and Andy Lau, who were "different", expressed satisfaction with the cooperation they had reunited after a long absence. Looking back on their initial impressions of each other, Tony Leung said that it was on the set of "Falcon", when he was still a "small supporting actor", that he first met Andy, who was already the protagonist. Andy Lau said that when he first met Wei Zai, "He was hosting a children’s program!" Regarding the friendship between the two, Andy Lau revealed that it was established during the filming of "The Deer’s Cauldron". For so many years, the two have maintained a good friend relationship with a certain distance. "Everyone has their own life, and I don’t want to disturb it. This relationship is very comfortable."

Click the link to watch: Blue Feather Parlor | Tony Leung on Friendship and Memories of the First Meeting in Life

Who is more committed in their career? Who cares more about appearance? Who can stay up late more? Who is more talkative? Who loves food and cooking more? Who is more suitable to be a director… In the specially set "Goldfinger coreference" session, two old friends held "Goldfinger" props to identify each other, showing mutual affection. Leung Chaowei bluntly said that he had never seen Andy Lau take a break, and his more emotional self "spoke for a year" during this roadshow. Andy Lau admitted that Leung Chaowei faced greater challenges in cooperation, and joked that if he became a director, he must give Wei Zai a "flamboyant role".

At the end of the conversation, the two old friends who co-starred in the love and hatred of the money world "combined" to send "get rich" blessings. The golden "fireworks" bloom, and who else’s blessings will be more effective than Tony Leung, who holds the "first pot of gold", and Andy Lau, who engraved "Gong Xi Fa Cai" into the DNA of Chinese people around the world?

M movie group starts to rain gold coins

Star guests are chasing stars

The dream of getting rich with "gold coins" in the sky, the movie channel M viewing group will help you achieve it!

On the premiere day of "Goldfinger" in Beijing, Tony Leung and Andy Lau, who were present at the M viewing group special, led the creators to sprinkle "gold coins" graphic chocolate to the audience. The two "i people" and "e people" are completely different from each other. The Goldfinger gesture of "who refers to who gets rich" pushed the celebratory atmosphere to the extreme.

Click the link to watch: Super happy! Tony Leung Andy Lau combined to sprinkle "gold coins"

The strong sense of New Year’s Eve festival is the core of this live broadcast. In the M viewing group, whether it is the reunion of Tony Leung and Andy Lau who are "still fresh" about their cooperation with each other, or the two-way rush of fans and them on the spot for many years, they all carry a unique sense of celebration.

Fun and laughter have also become a way to connect the inside and outside of the event venue. Cai Zhuoyan, who "competed" with Tony Leung at the premiere to speak more slowly, immediately smiled at the "Sister Sa" evaluation of the fans during the transition interview, calling it "Ah Sa is very Sa". Ren Dahua swept the table tennis level of the "Goldfinger" crew, and challenged Chen Jiale’s Mandarin and Cantonese to switch freely, all of which gave the live broadcast a life-like soul.

The release of the wonderful new work has promoted a new gathering of the starring fans. Outside the premiere ceremony, fans of Andy Lau’s "Andy World" collectively cheered for the film and Andy, and sang the golden songs "Love You for 10,000 Years" and "Gong Xi Fa Cai" on the spot to pass on love and blessing to more fans. Shuttle between the "Money Tree" and "Wishing Tree" and other devices, the premiere audience around the "First Pot of Gold" also shared the joy of grabbing the New Year’s jackpot when interviewed by the movie channel.

No matter on the spot or online, "Goldfinger" has gained a good reputation. Many industry guests who came to watch the movie also gave praise one after another.,,,, Zhang Jiayuan and other "fan girl" identities starring Tony Leung, Andy Lau, etc., pushed the all-day premiere to a climax of unity and celebration.

Click the link to watch: Hui Yinghong appeared at the Beijing premiere of "Goldfinger", claiming to be Andy Lau’s fan girl

Click the link to watch: Guo Fan’s self-disclosure of "Infernal Affairs" saved his career

On December 30th, the movie "Goldfinger" will accompany the audience to "get rich" on the big screen for New Year’s Eve. At present, the roadshow of the movie "Global All the Way" is still in progress. Please continue to pay attention to the "Wealth Code" sent by the movie channel M viewing group from all over the country.

Recently, when some netizens went out to play, they happened to encounter business tycoon Wang Jianlin inspecting his work. This time he looked very haggard. My physical condition can’t help but worry me.

When it comes to Wang Jianlin, the first thing that people think of is the business empire he built. Many large and medium-sized cities in our country have one or more "Wanda Plaza". As a businessperson, Wang Jianlin is undoubtedly very successful.

Wang Jianlin, who was born in October 1954, is approaching his 69th birthday. Although he is nearly 70 years old, he is still working in the front line and often travels to various places.

Judging from the live video shared by netizens, Wang Jianlin should be inspecting a certain project. He listened carefully to the narrator’s introduction as he walked. There were six or seven people protecting him by his side. Everyone walked towards the tourist bus in front of them. Get ready for your next destination.

Although the itinerary was quite grand, Wang Jianlin dressed very low-key, wearing sportswear, and his hair was simply combed, making him look casual and capable.

After the video was released, many netizens noticed Wang Jianlin’s vicissitudes and left messages: "I’m old and thin", "Why have I lost so much weight?"

When the picture was enlarged, it was clear that Wang Jianlin, 68, was indeed much older. Tall as he was, he looked thin. The skin on his face was drooping, his cheeks were sunken, and his arms were smaller than those behind him. The guards were noticeably thinner.

No wonder some netizens commented that Wang Jianlin was not in good condition. I don’t know if he didn’t get enough rest or if he encountered something unsatisfactory in his business. Wang Jianlin looked very haggard. Not only were his bags deep under his eyes, but his eyelids were also heavy. Dark circles under his eyes.

This contrasts sharply with the high-spirited singing "False Walking Monk" on stage.

When netizens saw that Wang Jianlin had such a huge business empire, but he was so hard and haggard, they left messages urging him to take care of his health while busy with his career.

It is not difficult to find from public reports that Wang Jianlin has often traveled to various places to negotiate business in recent years. At the same age, others may have already enjoyed family life, but Wang Jianlin is constantly on the road.

A few years ago, some netizens happened to meet Wang Jianlin, who was also working out. It seems that the fatigue of work made him realize that he must pay attention to his health. Wang Jianlin looked much stronger then than he is now. In just a few years, he has changed so much.

Speaking of Wang Jianlin, everyone will think of his son Wang Sicong. A reporter once said that after seeing Wang Jianlin’s itinerary, he felt that every day was very hard.

Unexpectedly, Wang Sicong’s answer was very straightforward: "That’s because it was a very hard day, so people pointed it out. Don’t believe this kind of chicken soup easily."

This answer is quite surprising, but it is in line with Wang Sicong’s usual style.

Compared to Wang Jianlin’s efforts, Wang Sicong’s life is more in line with our imagination of the rich. Not only does he often travel to various places and attend parties, but he is also surrounded by beautiful women. He is much more dashing and happy than his father Wang Jianlin.

Wang Sicong still has a lot of honest speech. A reporter asked Wang Jianlin, which title makes you feel the most uncomfortable?

Wang Jianlin’s answer is that rich people are the least happy, but in fact I am very educated.

As a result, when "good old man" Wang Sicong came to see him, he ruthlessly exposed his father’s background. He said his father was not as educated. He joined the army at 16 and had a difficult education.

I wonder how Wang Jianlin will feel after listening.

In any case, good health is the most important thing. Body is the capital of revolution. I hope Wang Jianlin, who is about to enter his seventies, can take care of his health after work.

[The pictures are all from the Internet. If there is any infringement, please contact the author to delete it]

Responsible editor:

　　Our reporter, Li Xiaohong

　　In 2023, with the in-depth implementation of the strategy of Digital China and Network Power, our country’s digital economy will be fully developed and develop rapidly. The digital economy has become a stabilizer, accelerator and multiplier for China’s economic and social development, and the greatest certainty to deal with uncertainty.

　　Experts interviewed by China Economic Times reporters believe that in 2023, our country’s digital development will continue to maintain a strong momentum, digital technology innovation will change with each passing day, the breadth of digital and real integration will continue to expand, and the development of digital economy industrial clusters will accelerate.

　　The digital economy is gaining momentum

　　"In recent years, our country has attached great importance to the development of the digital economy, continuously promoted digital industrialization and industrial digitalization, and created a digital industrial cluster with international competitiveness," Ding Minglei, a researcher at the China Academy of Science and Technology Development Strategy, said in an interview with China Economic Times reporters.

　　The latest data has witnessed the rapid development of our country’s digital economy. According to data from the China Academy of Information and Communications Technology, the scale of our country’s digital economy will reach 50.20 trillion yuan in 2022, an increase of 10.3% year-on-year. The proportion of digital economy in GDP is equivalent to the proportion of the secondary industry in the national economy, reaching 41.5%. It is expected that the scale of our country’s digital economy will reach 56.10 trillion yuan in 2023 and 70.80 trillion yuan in 2025. At the same time, the application of new technologies represented by digital technology will promote the transformation and upgrading of thousands of industries. The role of digital economy in amplifying, superimposing and multiplying our country’s economic development is prominent, injecting new momentum into the high-quality development of China’s economy. As of September 2023, there were more than 530,000 companies operating in digital technologies such as cloud computing, big data, and artificial intelligence.

　　Wang Lei, a researcher at the China Academy of Macroeconomics, told the China Economic Times reporter that in 2023, the development of our country’s digital economy will be full of bright spots. First, the new digital infrastructure will continue to be consolidated. 5G, gigabit fiber broadband, industrial Internet, artificial intelligence and other digital new infrastructure will be deployed to accelerate the deployment, and the world’s largest, technologically advanced and superior digital new infrastructure system will be basically built, and the overall capacity will be leapfrogged.

　　The second is the continuous strengthening of digital science and technology innovation capabilities. The innovation-driven development strategy has been deeply implemented, the main body of digital science and technology innovation has accelerated growth, the achievements of digital science and technology innovation have continued to emerge, the level of digital technology self-reliance and self-improvement has been improved, and the ranks of the world’s most innovative countries have been accelerated. Third, the strength of digital industry clusters has been steadily improved. The integration of digital technology and the real economy has continued to accelerate, key digital industries have continued to grow, the multiplier effect of digital technology empowering thousands of industries has continued to appear, the traction role of digital consumption has been continuously consolidated, and the comprehensive competitiveness of digital industry clusters in our country

　　Breakthrough development in artificial intelligence

　　"In 2023, with the support of massive data resources, advanced computing power infrastructure, rich application scenarios, and high R & D investment, our country’s new generation of artificial intelligence has achieved remarkable results in technological innovation, industrial ecology, and integrated applications, and has entered the first echelon in the world," Wang Lei said.

　　MIIT data shows that from January to October, artificial intelligence and other digital emerging industries are booming, the scale of artificial intelligence core industries has reached 500 billion yuan, and the number of enterprises has exceeded 4,300, which has injected new impetus into the construction of a more complete and competitive digital economy industry ecosystem in our country.

　　It is worth noting that in 2023, generative artificial intelligence represented by large models will achieve breakthrough development and become the new commanding heights of current technological and industrial competition in various countries.

　　It is understood that our country’s innovative achievements in intelligent chips, development frameworks, general models, etc., Huawei, Inspur Information, Sim Computing, Biren Technology, Moore Thread and other chip companies have launched chip acceleration cards for AI inference and training tasks in different scenarios, involving CPU, GPU, RISC-V and other different design architectures; MindSpore, Paddle-Paddle, SenseTime Technology SenseParrots, Tencent TNN, Ali MNN, ByteDance BytePS, Megvii MegEngine, Xiaomi Mace and other domestic artificial intelligence development frameworks and application ecosystems to achieve rapid development, Paddle developers have exceeded 8 million; Baidu ERNIE Bot, Alibaba Cloud Tongyi Qianwen Huawei Pangu, iFLYTEK Spark and other 11 large model products have passed the record.

　　"Artificial intelligence, represented by the big model, is accelerating its deep integration with the real economy, empowering thousands of industries, giving birth to new business models of the digital economy, and showing a strong’head goose ‘effect. Healthcare, education, finance, transportation, manufacturing, energy and other fields have become the most active areas of commercial application of artificial intelligence technology." Wang Lei said that by improving the quality of social public services and enhancing the efficiency of social governance, artificial intelligence continuously meets the needs of the people for a better life, and enhances the people’s sense of gain and happiness.

　　In Ding Minglei’s opinion, artificial intelligence has become an important driving force for technological innovation, industrial upgrading and productivity improvement, and it is increasingly integrated into the whole process of economic and social development, which has a significant and far-reaching impact on economic development and social progress.

　　The digital economy continues to empower

　　"Developing the digital economy is a strategic choice to grasp new opportunities in a new round of technological revolution and industrial transformation. Deepening the innovative application of digital technology and continuously spawning new industries, new business models and new models is an important breakthrough point for making China’s digital economy bigger, better and stronger," Ding Minglei said.

　　Looking to the future, Ding Minglei believes that the digital economy will unleash greater potential for China’s economic and social development. A series of new "Internet +" economic formats have been born one after another. Cloud computing and industrial Internet have become important driving forces for the digital transformation of enterprises. Large-scale Internet platform enterprises continue to empower the real economy through technologies such as the Internet, big data, cloud computing, and artificial intelligence; digital consumption continues to release the potential of residents’ demand; digital technology has also largely freed themselves from time and space restrictions, and the development of new trade models such as digital trade has smoothed the domestic and international economic cycle.

　　"In order to maximize the empowering effect of digital economic innovation and promote high-quality economic development, the next step should be to accelerate the implementation of top-level design, optimize the business environment of the digital economy, and stimulate and protect entrepreneurship." Wang Lei said.

　　In Ding Minglei’s view, to accelerate the empowering role of digital technology in economic development, one is to accelerate the promotion of digital industrialization and industrial digitalization, especially to realize the deep integration of the digital economy and the real economy, and further release the digital dividend and build a modern economic system. The second is to use digital technology applications to empower common prosperity, break the barrier of time and space, improve the inclusive level of limited resources, and promote the equalization of education, medical care, and services. The third is to support leading technology enterprises to give full play to market demand, integrate innovation, and organize platform advantages through digital transformation, integrate and gather innovative resources, improve China’s industrial basic capabilities and the modernization level of the industrial chain, and add more vitality for the economy to move towards high-quality development. The fourth is to continue to promote the deep integration of the digital economy and the real economy, guide the digital transformation of small and medium-sized enterprises, fully tap the development potential of the industrial Internet, and promote new generation information technologies such as artificial intelligence and big data to empower equipment, assign value to enterprises, and empower industries.

　　CCTV News:In the kitchen, a large bucket of rice noodles was placed on the uneven lime cement floor. One foot was in close contact with the rice noodles. The owner of the foot stepped on the ground with his left foot barefoot wearing slippers, and there was a suspected obvious wound on the back of his right foot. The injured foot was stepping on the rice noodles.

　　This is the back kitchen of a takeaway black workshop in Dalian, Liaoning. Recently, the photos posted on Weibo shocked netizens. "Feet + Rice Noodles" touches the bottom line of many netizens.

　　"Takeaway store employee’s foot stepped on rice noodles" is clearly visible in the picture

　　One informant said his feet were scalded and covered in ointment. Another said the photo was taken in the early hours of the morning and "I felt very sick when I saw it, so I took it." A third informant said he saw it with his own eyes that day, and he was by his side when the photo was taken. "I have seen his family catch rice noodles after blowing his nose and without washing his hands." "At that time, he was not shy about people, and this time he didn’t take care of putting his feet on rice noodles." "His house smells like a pig sty in the countryside."

　　It is understood that the merchant’s offline stores and online stores on various takeaway platforms have been closed and suspended.

　　Although the store has been closed, the food safety problems caused by online catering have been exposed. Although the "Internet Catering Service Food Safety Supervision and Administration Measures" have been implemented in January this year, the tricks behind online food still exist.

　　Mr. Du, a student at Hunan City University, ordered an eggplant rice with minced meat on the takeaway platform. Next to the main course, there was a side dish with shredded kelp and dried radish. After eating nearly a third of it, he found a "cylinder", "thought [the tail] was kelp root, and took a bite" and found it was a mouse. The restaurant involved said that the mouse could not have appeared in the processing of the side dish. The relevant person in charge of the Food and Drug Administration of Yiyang City, Hunan Province, said that the store had been inspected by law enforcement and was further investigating and collecting evidence.

　　A dead cockroach that had been cut into several pieces was mixed into the scallion pancake

　　Miss Zang in Shanghai ordered a takeaway, but she didn’t expect that a dead cockroach that had been cut into several pieces was mixed into the scallion pancake. After the incident, the merchant did not respond. After the incident was published on Weibo, the merchant’s first reaction was not to apologize but to ask for "deletion of posts". The Changning District Market Supervision Bureau of Shanghai conducted a surprise inspection of the restaurant involved and found that live cockroaches were found on the kitchen wall and other places. At present, the Changning District Market Supervision Bureau has ordered the store to close immediately for rectification and carry out comprehensive rectification.

　　CCTV Exposes Dirty Environment of Some Small Restaurants in Online Takeaway

　　In some takeaway restaurants that had been exposed by CCTV, the walls were dark and full of oil stains, the sewers gave off a foul smell, the sausages and fish looked bad, and there were cockroaches crawling on the walls. There were no customers here, only diners who ordered food by the APP… Would you dare to eat the food made in this environment?

　　No business license and food business license and other qualifications, the use of fake "deck" licenses, dirty and messy kitchen environment, the actual business address does not match the license address, and operates beyond the scope… Some problematic restaurants have repeatedly "changed clothes" through takeaway platforms. Such restaurants pose a great threat to "the safety of the tongue".

　　In recent years, the online food ordering market has developed rapidly, and the user scale and usage rate have continued to increase compared with the previous year. Data show that by the end of 2017, the scale of online food delivery users in our country reached 343.38 million, and the usage rate of online food delivery accounted for 44.5% of netizens; the scale of mobile online food delivery users was 322.29 million, and the usage rate of mobile online food delivery accounted for 42.8% of mobile Internet users. With the continuous expansion of the scale of online food delivery services, the integrity of online food delivery has become a new problem that cannot be ignored.

　　In the restaurants of the takeaway platform, some of the hygiene conditions can be said to be shocking. On the other hand, some takeaway platforms also have "lax checks" on this phenomenon for the sake of performance.

　　A few days ago, in the special project of the Beijing police to crack down on the chaos of online takeaway food delivery, more than 100 black restaurant dens were investigated and shut down, and more than 30 people were criminally and administratively detained. Ji Hui, the captain of the food and drug detachment of the Environmental Food and Drug Brigade of the Beijing Public Security Bureau, said that many merchants are not strong in legal awareness and do not recognize the seriousness of buying and selling false certificates. They think it will be fine if they are fined, but if the circumstances are serious, they may violate the criminal law.

　　In addition to the government’s strengthening of supervision, online takeaway platforms also bear the responsibility of management and supervision of food operators. The takeaway platform shall perform the obligation of reviewing the food business qualifications of merchants who join its platform, and ensure that the information on the business license is true. Violators shall be ordered by the Food and Drug Administration to make corrections, confiscate the illegal income, and impose a fine of not less than 50,000 yuan but not more than 200,000 yuan; if serious consequences are caused, the business shall be ordered to be suspended until the license is revoked.

　　For consumers, if they encounter problems with the quality of the food and suffer property or personal damage after ordering food online, they can pursue the legal responsibility of the takeaway merchant according to law. According to the Food Safety Law, if they produce food that does not meet food safety standards or sell food that does not meet food safety standards, consumers can not only claim compensation for losses, but also ask the producer or seller to pay ten times the price or three times the loss. If the amount of compensation is less than 1,000 yuan, it is 1,000 yuan.

　　In addition, before ordering food, consumers should carefully check whether the online catering service unit has a business license, food business license (or catering service license), and check the relevant information of its license, such as business scope, business address and contact number. Choose a reliable takeaway platform, and choose a merchant that has passed the platform review, has legal business qualifications, and has a good reputation.

　　After the takeaway is delivered, consumers should check whether the packaging of the catering food is in good condition and clean, and whether the delivered catering food is consistent with the order; check whether the catering food is contaminated or deteriorated in person, and reject it if it is found that the catering food has deteriorated or deteriorated. If there is a problem, you can keep the relevant consumption vouchers and call the consumer rights protection hotline 12315 to complain and report. (Text/Ren Jia)

Mobile power, also known as "power bank". The latest quality supervision and sampling results of online mobile power products released by the State Administration for Market Regulation show that more than one-third of the products tested failed.

The quality of mobile power supplies sold online is subject to national supervision and spot checks, and more than 35% fail.

CCTV Finance "Economic Information Network" column video

The results of the random inspection showed that among the 99 batches of products produced by 95 enterprises in 9 provinces (cities), 35 batches failed, and the failure rate was 35.4%.

Some of these unqualified mobile power supplies have prominent problems with false capacity and cannot achieve the claimed charging effect; some have safety risks such as heat generation and deflagration, threatening consumers’ personal and property safety. According to relevant industry data, our country is not only the world’s largest producer of mobile power supplies, but also the largest consumer market. Since 2020, shipments have remained at about 100 million units. With the continuous popularization of mobile power supplies, safety accidents caused by mobile power supplies have occurred all over the country.

At the end of May this year, on Line 7 of the Beijing Subway, the mobile power supply in a passenger’s satchel suddenly exploded, and a large amount of smoke instantly filled the entire carriage. Fortunately, due to the timely handling of the staff, the accident did not cause casualties.

Also in May this year, in a parking lot in Zhangjiagang, Jiangsu Province, the mobile power supply left in the car also exploded. The center console inside the car was badly damaged, and there were traces of bursting in the front windshield.

In early January this year, a self-built house in Guiping, Guangxi Province, burst into flames in the early morning, and a family of four died tragically. According to a warning article issued by the fire department, "After preliminary investigation, the cause of the fire was a short circuit of the mobile power supply, which caused the fire. The on-site inspection found that the mobile power supply was suspected to be counterfeit and shoddy products."

Industry experts say that poor quality or improper use of mobile power supplies can lead to safety accidents, threatening consumers’ personal and property safety.

5 batches of mobile power supply overcharging test failure can cause fire and explosion

CCTV Finance "Economic Information Network" column video

It generally takes a few hours or even longer for the mobile power supply to be fully charged. If you forget to unplug the power supply, you may also charge it all day and night. This situation is called charging. During this national supervision and spot inspection, it was found that 5 batches of mobile power supplies failed the charging test.

According to the testing engineer, during daily use, a mobile power supply may forget to unplug the power supply for a long time to charge, which requires that the internal battery quality of the mobile power supply must be reliable enough. Even if the circuit is damaged during overcharging, there should be no risk of fire or explosion.

Some mobile power internal battery in the test process suddenly deflagration, a lot of smoke. After the test of these unqualified mobile power batteries were burned.

After testing, 5 batches of mobile power overcharging items failed this time. They are:

Shenzhen Jinyu Dongfang Industrial Co., Ltd. produces the Yuanqi Mengmeng mobile power supply of Tmall Lofte flagship store

Dongguan Yubo Communication Equipment Co., Ltd. produces Yubo mobile power supply for Vipshop Yubo Digital Sale Flagship Store

Shenzhen Yanbu Technology Co., Ltd. produces super flash charging (mobile power supply) for Tmall eara flagship store.

Shenzhen Yimo Technology Co., Ltd. produces the LeTV super mobile power supply of Pinduoduo LeTV Yandian store

Yuantu Culture (Shenzhen) Co., Ltd. produces the Starry Sky Hand Warmer of Tmall Tianxiang Chuangwu Flagship Store

According to the testing engineer, poor battery quality is often one of the main reasons for the failure of the overcharge index.

If the shell quality is not up to standard, in the event of a bump or drop, the internal circuit and battery of the mobile power supply cannot be effectively protected, causing problems such as short circuit and battery leakage, which may also lead to safety accidents such as fire and deflagration.

For unqualified products found in supervision and spot checks, the General Administration of Market Supervision requires local market supervision bureaus to urge e-commerce platforms to immediately remove them from the shelves, and at the same time take measures such as seizure and seizure in accordance with the law to strictly prohibit the production and sales of enterprises. For unqualified enterprises, further clarify the rectification requirements, strictly supervise the implementation of rectification measures, and organize timely review.

　　[Autohome News] Before 2020, our Chinese brand’s medium/medium and large SUV products were still rare, and the market was almost monopolized by overseas brands. At that time, we were still very cautious about this market. Even if there were products, most of them showed brand perception and technology, and did not pursue market performance. However, the growth of our Chinese brands in the past two years has indeed made rapid progress, especially in the new energy market. Medium/medium and large SUVs have gradually become the mainstream. Not only is the market demand increasing day by day, but our products are also becoming more and more mature.

　　Recently, it has also become a period of product explosion in this market, including the new (|), the new Wenjie M7, Lynk & Co 08 EM-P and the new Xiaopeng G9 have been launched, and new players such as Zhiji LS6 are waiting for an opportunity. What is their market prospect? What is the sales policy now? Let’s go to the store again to find out.

◆　The new NIO EC6
Price range: 35.80-41 6,000
Product features: LiDAR upper body, appearance/configuration have been upgraded
Store location: direct sales model, there are many supermarket/store layouts. At present, there are 134 NIO centers, 286 NIO spaces, 304 NIO service centers and 58 NIO delivery centers globally

　　The new NIO EC6 was officially launched on September 15, with two versions priced at 358,000 (75kWh) and 416,000 (100kWh). It stands to reason that it is beyond our 300,000 car purchase budget, but after using the NIO BaaS battery rental plan, the price of both models is 288,000 (battery rental 980 yuan/month and 1680 yuan/month), just within the budget, plus a good heat, so we decided to add it to this car purchase survey.

　　The new EC6 has not been listed on the day of arrival, so there is only one.10,000 points for booking (deposit 5000 yuan)Other relevant policies are subject to those announced at the time of official listing. Detailed information can be found atClick here.Check, the delivery cycle is about 2 weeks. At that time, although the price of the new EC6 has not yet been released, the sales said that it is expected to be about 350,000, which is very close to the actual price. The order data is also relatively good. There are already more than 10 orders in the store, and one can be added every day on working days, and about 3 on weekends. The order is mainly for young people. Older users are also interested, but they have not placed an order. They still want to wait for the listing price to come out. Overall, the market prospect is relatively optimistic. It is worth mentioning that although the new EC6 has no discounts, there are no discounts in the storeES8 and ET7 have a small number of stock cars, you can get a discount of 10,000 yuan…

　　One of the main upgrades of the new EC6 is the appearance, and the other is the intelligent performance. The appearance aspect includes changing the appearance to a new design style, and at the same time provides 9 body colors to choose from. The interior will also provide 3 exclusive color schemes. It just so happens that the car on display adopts the Danxia red color scheme, which is very classy. In addition to intelligence, the new car is equipped with the latest banyan system and NOP + driving assistance. This time I came to the store just in time for the system upgrade, and I couldn’t actually experience it. However, friends who want to know more about the new car can also check our previous detailed experience videos.

　　The NIO EC6 was first launched in 2020, which can be regarded as a pioneer for Chinese brands to enter the medium-sized SUV market relatively early. At that time, it was also regarded as one of the strong competitors of Tesla Model Y. After the previous generation EC6 was launched, it achieved a monthly sales of 3,000 +, which is also a meritorious model that helped NIO achieve monthly sales of over 10,000 and successfully ranked among the top three new forces. With the launch of the new EC6, it can be regarded as the last piece of the puzzle of the NIO NT2.0 platform. It is bound to bear the burden of sales again. The future market performance is what we all look forward to.

◆　New Xiaopeng G9
Price range: 26.39-35 9,900 yuan
Product features: configuration adjustment, more people-friendly, more practical
Store location: mainly based on the direct sales model, but also developing the dealer model.Supermarkets are the main ones, and there are also departmental stores.

　　The new Xiaopeng G9 just listed on September 19, after the completion of the change, the new car has finally dropped to 300,000, a total of 5 models, the price range is 26.39-35 9,900 yuan. At the same time, you can also enjoy the air suspension time-limited 20% off, car color limit free, delivery gift package, replacement subsidy, intelligent upgrade and other subsidy policies, while there are points compensation and hardware upgrades for old owners and so on.

　　This time, the Xiaopeng G9 has been mainly adjusted for the configuration. For example, the Danao audio + 5D music cockpit is replaced with an optional configuration, and the standard Xiaopeng XOpera brand audio is equipped. In practice, this self-developed audio can also provide a good listening experience for front and rear passengers, which is completely sufficient for the vast majority of people. In addition, the car system still maintains a relatively high level, and the voice response is very sensitive, which has always been XPeng Motors’ expertise. Of course, in addition to the audio, the new Xiaopeng G9 has many details to adjust. For details, you can click here to view.

　　There is a new G9 570max model display in the store. This is also the configuration mainly promoted by Xiaopeng G9. The new G9 has not been listed when it arrives at the store.The deposit is 5,000 yuan, and delivery is expected to start in 1 month.In addition, sales representationThe old Xiaopeng G9 can have a discount of 10,000 yuanHowever, there are only a small number of existing cars, and they are not available when they are sold out. But users who come to the store are basically waiting for the launch of the new G9. After all, there was news at that time that the price of the new model would be cheaper, and the configuration adjustment would not be large.

　　Xiaopeng G9 was officially launched in September 2022 at the earliest, and it has been exactly one year. As the flagship product of XPeng Motors, although its intelligent driving and charging capabilities have been raised to a new height, the pricing of 30.99-46 9,900 yuan has not been recognized by the market. Except for the sales volume of 4,000 in December 2022, the average monthly sales volume in other months basically hovers around 1,000. After the launch of the new Xiaopeng G9, the price range will be greatly reduced. Can it be recognized by the market again?

◆　New Q Jie M7
Price range: 24.98-32 9,800 yuan
Product features: five-seat version, Huawei ADS 2.0 smart drive, all-aluminum chassis
Store location: Huawei direct sales are mainly in supermarkets, while Sailis direct sales are mainly in industrial park stores, and supermarkets have a wider layout

　　The new Q & J M7 was officially launched on September 12, with a total of 5 models and a price range of 24.98-32 9,800 yuan. Since the new car was pre-sold at the Chengdu Auto Show in August, the cumulative order exceeded 15,000 units within 24 hours of listing, and 2700 new orders were added on September 17, creating a new high for the brand’s single-day orders. It can be seen that whether in the supermarket Huawei store or the Q & J 4S store, the new Q & J M7 has become a well-deserved star product.

　　According to sales, the new M7 store can basically guarantee a daily increase of 2-3 orders, and can double on weekends, mainly young consumers, most of them choose 5-seat smart driving version (309,800), Huawei ADS 2.0 smart driving is still very attractive to young consumers, and the older ones will basically choose the rear drive version (5 rear drive version sold 249,800, 6 rear drive version sold 269,800 yuan). According to previous news, Huawei ADS 2.0 smart driving system is expected to be in the National Open City NCA in December, when it may usher in another wave of sales.

　　If you place an order before the first sales period on October 7, you can get a cash discount of 6,000 yuan, a matching fee of 12,000 yuan and a matching benefit of 15,000 yuan (choose one of three). In addition, there is a replacement subsidy of 15,000 yuan in the store, and the sales rights are still quite attractive. Although the new Q Jie M7 will be delivered when it is listed, if you place an order now, the delivery cycle will take about a month. It is worth mentioning that the new Q Jie M7 has a new 5-seat version with high comfort in the rear row, which is the most comfortable in this visit. In addition, Hongmeng Smart Cockpit 3.0 also has excellent performance. Except for the slightly slow automatic speech recognition (possibly due to signal problems in the exhibition hall), other performances are impeccable.

　　Wenjie M7 was first launched in July 2022. Under Huawei’s halo blessing, it achieved good market feedback in the early stage of listing. The highest monthly sales exceeded 5,000 units, but it fell sharply after 2023, with the average monthly sales falling to about 1,000 units. The new Wenjie M7 can be said to have been adjusted very timely and successful, especially at the moment when Huawei’s new mobile phones are released, the new M7 is also taking advantage of the momentum and has the potential to enter the first echelon.

◆ Lynk & Co 08 EM-P
Price range: 20.88-28 8,000 yuan
Product features: Meizu car machine, new design language/pure electric battery life 245km
Store location: dealer model, mostly industrial park stores, few supermarkets

　　Lynk & Co 08 ushered in the official listing on September 8. This time, a total of 5 models were launched, priced at 20.88-28 8,000 yuan. Through communication with sales staff, it was found that there are no other preferential policies in the store. For consumers who want to buy Lynk & Co 08, they can only refer to the official rights and interests released when they were listed. At present,Lynk & Co 08 all models can enjoy 9,000 yuan to enjoy the gold when placing an order. At the same time, you can also upgrade the Harmanka 23 speaker audio bag worth 10,000 yuan for free. The optional "Technology Pride Smart Enjoy Pack" can get 7,500 yuan for five years of NOA function service. In terms of replacement subsidy, you can enjoy a replacement/additional purchase subsidy of up to 6,000 yuan. In addition, you can also get 300 yuan worth of Meizu Mall 30,000 points.

　　According to Geely’s official sales figures, the Lynk & Co brand sold 18,696 units in August, an increase of about 9% month-on-month and an increase of about 24% year-on-year. According to previous data, less than a week after the new car opened for pre-sale on August 8, the order has exceeded 10,000 units. On the same day, I communicated with the staff in the Beijing store and learned that since the official listing of Lynk & Co 08 as of September 15, the current in-store sales have exceeded 100 units. In this way, this store alone has an average of more than 10 orders per day. It seems that the popularity of new cars is still very high. During our viewing, there are staff who are explaining the functions of the car system to users. It can be seen that users are still very concerned about the intelligent configuration of vehicles.

　　The new car uses the latest LYNK Flyme Auto Meizu car system. The sales staff in the store said that it has the same level of fluency as the mobile phone, and the actual experience is really good. Our experience of zoom navigation, one-handed sliding interface, switching between different interfaces and other conventional operations did not find any cards or slow responses during the process. Basically, we can realize finger operation where to hit, and the response is very fast. In addition, we also experienced the automatic speech recognition function of the car. Lynk & Co 08 can only support voice conversations in a single area. When the main driver issues a voice command, the co-pilot immediately sends out a voice command that cannot be recognized. In this regard, we can compare the M7, which can support continuous dialogue in different zones and increase the convenience of continuous operation for different passengers in the car. But for the usage habits of different users, we can’t give absolute good or bad evaluations.

　　In addition to the function of the car, when we learned that the Harmanka stereo can be replaced for free, we immediately carried out the experience, which does continue the consistent characteristics of its brand, with excellent sound resolution. In addition, we hope to give users a certain reference in the car purchase experience. Looking back at our car store this time, the overall scale is relatively large, and different models have cars on display. There are also a small number of official used cars in the store. The service attitude of the sales staff in the store and the patient explanation provided us with a good car viewing experience.

◆ Zhiji LS6
Pre-sale price range: 23- 300,000 yuan
Product features: DIY personalized dress-up/technology cockpit design, GPT large modelgo online
Store location: direct sales model, mostly supermarket stores, industrial park stores are rare

　　Zhiji LS6 has opened pre-sale at the previous Chengdu Auto Show, and the pre-sale price range is 23-300,000 yuan.The new car plans to show the car to the store on September 22. By inquiring about the sales in the store, it is expected that the official price will be maintained within 300,000 yuan, and it will be officially listed and delivered in October. At present, there are no additional preferential policies in the store, and it is still based on official rights and interests. At present, the preferential activities that provide 2,000 yuan of intention gold to 5,000 car purchases also include 10,000 yuan of optional funds. For L7/LS7 owners, they can enjoy another 10,000 yuan discount.Since the pre-sale started at the end of August, as of the day of the survey on September 15,The national order volume of Zhiji LS6 has reached 15,000 units.

　　The new car offers a total of 7 body colors. According to the store, the current main colors are brown, cyan and pink. Obviously, pink bodies are more popular with female consumers. Interestingly, although we didn’t see the real car, the in-store sales explained to us a variety of personalized gameplay of Zhiji LS6, including DIY replacement of different colors of rim decoration, side skirt trim and rear spoiler trim and so on.

　　Since there are no show cars in the store at present, we did not experience the actual operation of the car and machine system this time. However, in the store we experienced the car and machine of Zhiji L7 and the voice control system. The overall recognition speed needs to be improved compared with other vehicles of the same class. Looking forward to LS6’s improvement in this regard. The Zhiji car we investigated this time is a store located in a large shopping mall. The store decoration style is similar to the reduced version of the car show booth, located in the central lobby area of the mall. The service attitude of the staff in the store and the professional performance of the product are acceptable.　

Editor’s comment:

　　This time we are mainly limited to about 300,000 of new products to the store survey, but in the domestic new energy market, of course, there are many BYD, Tengshi and ideal brands have very good products have been affirmed by consumers. An obvious feeling is that compared with the previous store survey by price, preferential and other stimulus policies, this survey we are more impressed by the product force.

　　They are not only trying their best to meet the harsh conditions of consumers "both want, want, and want", but also form brand differences through details and bring some unexpected joy. So if you buy a car 300,000 budget, what aspects do you value most and which model will you choose? Which new car market conditions do you want to see? You are welcome to leave a message in the comment area, our car purchase investigation team is always ready. (Text/Autohome Guo Chen, Yao Yu)

　　After the merger of Uber China and the completion of the local online ride-hailing management plan, Didi began to make major adjustments to the pricing method.

　　Surging News (www.thepaper.cn) learned that starting from August 18, Didi Chuxing platform implemented separate pricing for drivers and passengers.20% of each order charged by the driver before cancellation, 0.5 yuan per order, plus 1.77% management fee.

　　Taking Beijing as an example, the order is driven for 10 kilometers and 20 minutes. Before the adjustment, the actual income of the owner = (2 * 10 + 0.5 * 20) * 80% = 24 yuan; after the adjustment, the actual income of the owner = (1.8 * 10 + 0.4 * 20) * 100% = 26 yuan.

　　Didi said that after this adjustment, the income of car owners has not changed compared with before. The income of car owners in some cities will also increase with the separation of drivers and passengers, which can increase by about 10% -18%.

　　The adjustment of Didi’s pricing method this time is mainly aimed at the driver side, with little impact on the passenger side.

　　It is reported that after the driver and passenger are priced separately, the basic fare (km + duration + night fee), other fees, and dynamic price adjustment fees will be 100% owned by the owner. The owner does not need to make any changes in the withdrawal operation, which is the same as before.

　　Didi told Surging News that the purpose of making this pricing adjustment is very simple. First, after the division of pricing,Owners can see their income more intuitively, and the details of their income become clearer. Second, owners can also calculate their income directly through the pricing rules on the owner’s side, which is simple and clear.Didi said that after the adjustment of the pricing method, the income of car owners will also be more stable and will not be affected by fluctuations in the passenger side.

　　As for why they chose to make this pricing adjustment at this time, Didi said that after Didi merged with Uber China, the media reported a large number of Didi price increases (Didi said it was just a normal price dynamic adjustment, and there was no price increase), which confused Didi drivers about the pricing method. Many drivers expressed their desire for a more transparent pricing method to Didi Chuxing.

　　After communicating with a number of Didi drivers in Shanghai recently, Surging News found that there has been a recent phenomenon of Didi drivers leaving the platform. Drivers said that the current subsidy for drivers has decreased compared to before.

　　Zhu Wei, deputy director of the Communication Law Research Center of China University of Political Science and Law and an expert member of the Sharing Economy Working Committee of the Internet Association of China, told The Paper.The adjustment of the pricing method made by Didi further illustrates the difference between online car-hailing and traditional taxis. It is not a disguised form of money or a tap, but a manifestation of the sharing economy.This also reflects the requirements of the "differentiated operation" of the new policy on special cars, not only for passengers and owners, but also for the difference in revenue sharing. This will force taxi reform.

　　An insider of Volkswagen Chuxing (a ride-hailing platform owned by the mass transportation group) told The Paper that from the recent frequent actions of Didi, including price increases, reduced driver subsidies, and this time drivers charging a fixed proportion, it can be seen that Didi is under increasing pressure in terms of profitability and is working hard to make changes and postures to give confidence to the capital.

　　The aforementioned Volkswagen insider also said that in the long run, Didi will surely generate profits on the driver and passenger side.

　　It is reported that the new pricing method of Didi Chuxing has been launched in Beijing, Shanghai and other cities, and will be gradually rolled out across the board in the future.

"Gold nine silver ten" is the peak season of the traditional car market. According to the data released by the Passenger Federation, the sales of new energy passenger vehicles in September increased by 23.0% year-on-year. The AITO Wenjie new M7, which has been listed for only a month, is undoubtedly the new favorite of the market. According to the official, Dading has broken through 60,000 units. While sales are hot, it also puts forward higher requirements for delivery. It is reported that in order to fully ensure the high-quality and fast delivery of the AITO Wenjie new M7, Sailis Automobile’s joint supply chain has invested 1 billion yuan and added more than 20,000 manpower.

Whether the supply chain can be effectively pulled and managed is the key to ensuring large-scale delivery and high-quality product delivery. Especially in the new energy automobile industry, a stable and efficient supply chain system is the guarantee of the quality, quantity and delivery efficiency of auto parts. This is reflected in some previous new power car companies. Due to the lack of deep cooperation foundation and experience, there may be unstable and uncontrollable risk factors in the supply chain in the face of extreme situations. For example, during the epidemic, there were even situations where the supply chain was tight and "dared not" to take orders, which limited the sales growth of car companies.

As one of the leading enterprises in the whole vehicle chain, Sailis Automobile has 20 years of vehicle manufacturing accumulation and excellent supply chain management capabilities, and uses the high-quality supply chain system as the foundation for the whole vehicle strength. Not only does it cooperate with Huawei’s cross-border business to build a smart car industry chain in depth, but also reaches strategic cooperation with many leading enterprises such as Ningde Times, Topu, Wencan, etc. Among them, Li’er, Huguang, Topu, etc. have settled in the local area to help the local industry strengthen and supplement the chain. Through forward-looking judgment of the industry and cooperation with many supply chain enterprises in advance, Sailis Automobile gathers the leading technologies of leading supply chain enterprises, and at the same time reduces the cost from procurement, production to after-sales services, promotes production efficiency and quality control, and builds a solid foundation for efficient and high-quality delivery.

Since the beginning of this year, the AITO Q & A series has been launched and delivered the M5 smart driving version and the new M7 series, which have been widely recognized by the market. In December, the flagship model AITO Q & A M9 will also be launched soon. Under the support of a complete supply chain system, Sailis Automobile promotes the strategy of large single products, and will seize a place in the fierce competition of new energy vehicles.

It is worth noting that the stock price of 601127.SH has continued to rise recently, and the market value has jumped by 100 billion yuan again. Cinda Securities’ latest research report said that it is optimistic about the rising profit space of Sailis, and pointed out that with the launch of AITO’s new M7 and M9, the company’s new energy vehicle sales are expected to achieve a significant increase.

Text/Wang Fangjie

With a swipe of the camera, Xu Jiayin appeared on the CCTV news screen, which was a report on the 2017 BRICS Business Forum. Xu Jiayin, wearing a red tie, sat in the first row behind the dignitaries, directly behind the top government. Obviously, this is not a position that ordinary entrepreneurs can get. In addition to the chairperson of the board of directors of China Evergrande, Xu Jiayin is also a member of the Standing Committee of the National Committee of the Chinese People’s Political Consultative Conference.

Mr. Xu’s political status has kept him very busy. On his public itinerary, he attended a meeting of the Standing Committee of the Chinese People’s Political Consultative Conference in Beijing before going to Xiamen for the BRICS meeting. Before that, he attended a "symposium on private enterprises studying and implementing the spirit of the National Financial Work Conference" held by the All-China Federation of Industry and Commerce. Only, he did not attend the half-year performance report of China Evergrande (03333.HK).

Originally, Xu Jiayin could have received a lot of congratulations at the half-year performance meeting. In addition to China Evergrande’s best performance in history, he himself surpassed Wang Jianlin to become the richest man in China’s real estate in July this year. As China Evergrande’s share price rises further, according to the latest data from Forbes, Xu Jiayin is the new richest man in China at a price of 39.10 billion US dollars, slightly higher than the second-place Pony Ma and the third-place Jack Ma.

It’s not that Xu Jiayin has never been the richest man. As early as 2009, the day China Evergrande went public, his net worth reached the top of China. But year after year, Evergrande has been playing the "game" of high debt and high leverage, with capital markets ranging from novelty to boredom to worry, and institutions like Citron shorting. According to the calculation of Xia Haijun, the president of China Evergrande, China Evergrande’s current price-to-earnings ratio is only 4-5 times, about half that of mainland real estate companies. "Evergrande’s stock is still far from reaching the right position," Xia Haijun said.

Since the beginning of this year, China Evergrande has started to deleverage significantly, and at the same time vigorously promoted Evergrande Real Estate’s backdoor listing in class A shares. Under the stimulus of multiple positive factors, the capital markets have expressed their support with practical actions. The company opened at HK $5.04 on January 3, 2017 and closed at HK $28.15 at noon on September 15. Xu Jiayin also once again topped the list of China’s richest people.

However, for a mature entrepreneur, the status of the richest person is no longer of great significance, just like the scale of a leading company. Xu Jiayin and Evergrande’s management need to continue to face the problem of how to keep a giant ship within a safe boundary.

A keen sense of smell

In a fashionable phrase, Xu Jiayin lacks freestyle. In the real estate circle, Sun Hongbin wears T-shirts and sneakers, and usually scolds the Three Character Classic when he is in a hurry. He is an "upright BOY"; Wang Jianlin roars at the company’s annual meeting that he has nothing like a "rock old cannon"; although Wang Shi is full of bourgeois delicacy, he will also be angry and become a beauty. Whether the reporter is in close contact or the public can feel the vividness of these characters through the computer screen. But Xu Jiayin is serious and serious. He is like a "veteran cadre" who is surrounded. You look at him, he looks at you, and they are separated by several layers.

But employees at China Evergrande are used to "the boss is such an old-fashioned person." They told reporters that the billionaire had not had access to a smartphone until recent years. The owner of a media advertising agency brought up a story in which Evergrande people approached them years ago to include a single page on Sina Finance’s Hong Kong stock channel, because the boss only used Sina Finance to watch stocks.

Xu Jiayin, a veteran cadre, is different from Wang Shi – "he will not get involved in politics in this life and the next", and different from Wang Jianlin – "close to the government and away from politics". He is very close to politics and well integrated. This of course attracted criticism from short-selling institutions for him. Citron once pointed out that it was very close to the **, but the accusation was ultimately unfounded. The other side of the coin is Xu’s keen grasp of policy. Just a little attention can be found that ** Evergrande’s strategy is almost in sync with the macroeconomic development strategy. The state expands the scale of Evergrande, and the state shrinks the scale of Evergrande.

At this performance meeting, China Evergrande announced a major strategic transformation, from the past scale priority to efficiency priority. To this end, the company adjusted the previous "three highs and one low" development model to "three lows and one high". The so-called "three highs and one low" means high debt, high leverage, high turnover and low cost, while "three lows and one high" means low debt, low leverage, low cost and high turnover. In this regard, Xia Haijun did not shy away: "China Evergrande’s measures are consistent with the country’s policy orientation of reducing debt and deleveraging."

Xu Jiayin was not among the speakers at the "Symposium on Private Enterprises Learning and Implementing the Spirit of the National Financial Work Conference" on August 23. Xu Lejiang, executive vice chairperson of the All-China Federation of Industry and Commerce, who presided over the symposium, named Xu Jiayin to talk about the experience of studying the National Financial Work Conference. Xu Jiayin said that from 2014 to 2016, Evergrande’s income was 130 billion yuan, 200 billion yuan and 370 billion yuan respectively, and this year it is expected to reach 500 billion yuan. Such rapid growth, no matter which enterprise, is basically a "three highs and one low" development model; now after the Central Financial Work Conference, enterprises must change to the "three lows and one high" model. Only in this way can they achieve long-term stable and healthy development of enterprises. Xu Lejiang joked in the exchange that Evergrande’s past development model should actually add a "high risk".

The guidance from the top is very direct, how can Xu Jiayin not hear the strings and know the elegance? In fact, with his keen sense of policy, there is no need for such a direct reminder at all. In the early years, under the background of policy encouragement to go global, many real estate companies adopted aggressive overseas expansion strategies. Now those overseas real estate projects that rely on domestic investors have become a problem for the company’s future, but China Evergrande has not gone abroad. Evergrande made it clear to reporters that Evergrande has no plans to invest overseas. "In the past 21 years, Evergrande has insisted on investing only in China, and has successfully realized the growth of the company in the dividend of China’s rapid economic development. We believe that this dividend is still very large, and Evergrande can continue to make great progress in it."

Of course, in addition to external factors, Evergrande’s slowdown has its own internal logic.

China Evergrande was founded in 1996 as a project that no one else wanted. That year, Vanke’s operating income exceeded 1 billion yuan, and R & F Real Estate’s sales revenue was about 60 million yuan. In the 20 years leading up to 2016, Evergrande has been playing the role of a chaser, from project companies to local companies, then to national companies, and finally became the world’s largest real estate company last year. Xia Haijun believes that to catch up with others, it must scale up. How can a small company overcome the disadvantage of insufficient capital base and achieve leap growth in scale? There is only one way – borrow more money. The money was deposited on the land, and as the value of the land far exceeded the financing cost, Evergrande became the "diamond in the crown".

But Xia Haijun knew that the development model of high debt was unsustainable. After all, the golden age of Chinese real estate had passed, and a large number of small and medium-sized real estate enterprises had disappeared, which showed that the simple and crude way of making money in the past was no longer feasible. The cost of land was getting higher and higher, and if the financing cost continued to rise, enterprises could only work for the government and banks.

China Hengda decided in the next three years, the scale of land reserves negative growth of 5% to 10% per year, to 50 million square meters per year of floor area calculation, about 10 million per year will reduce the land reserves, buy less land debt will decline, profits will be released.

This year, China Evergrande handed in the best report card since its listing. Its gross profit and net profit increased by about 200%. Due to the repayment of perpetual bonds, the net profit attributable to the company’s shareholders increased more than 8 times to 18.83 billion yuan. After the results were announced, the research reports of various brokerages concluded that it was "recommended to buy". "Shareholders don’t care how big we are, they only care about how much dividends we pay." Xia Haijun told the truth.

Slow down

Judging from the contract sales in the first half of this year, Evergrande is no longer the country’s leader, although it only took this position last year. In the first six months of this year, Evergrande achieved contract sales of 2440.9 billion yuan, slightly inferior to Country Garden’s 2889.1 billion yuan. "We have been the boss, and it is pointless to focus on this goal after this." Xia Haijun said, but he changed the topic and said: "It is useless to put other people’s rights and interests on your own side." This sentence smells of gunpowder. In the first half of 2017, according to the statistics of equity sales, China Evergrande ranked first in the country’s real estate enterprises, reaching 2291.6 billion yuan, surpassing Country Garden.

"Evergrande will no longer emphasize contract sales first, equity sales first, and profit first." Xia Haijun stressed that in response to this strategic adjustment, Xia said that China Evergrande’s consistent low-cost and high-turnover model will not change. "Real estate is bread, we are chefs, land is flour, and Evergrande took the cheapest flour a few years ago." Xia Haijun is quite proud of this. As China’s largest "landlord", China Evergrande currently has 276 million square meters of land reserves. The original value of this land is only 457.60 billion yuan, and the average floor price is 1,658 yuan/square meter. Of this land, 72.6% is located in first- and second-tier cities, and 27.4% is located in third-tier cities. It is well known that since the beginning of last year, China’s real estate market has started a new round of upward cycle, and the price of Evergrande projects has also risen along with the market. According to Xia’s introduction, the average price of Evergrande projects has risen from 8,800 yuan/square meter last year to more than 10,000 yuan/square meter. "The extra 1,200 yuan/square meter is profit," Xia Haijun said.

Xu Jiayin is also a professor of management at his alma mater, Wuhan University of Science and Technology. Many people think this is a false name. After all, Professor Xu studied metallurgy and has never talked about his management methods in public. But when you look closely at this company, you will find that it does have some unique management experience. For example, due to the long management radius of national real estate enterprises, many companies choose to fully delegate power to regional companies. However, China Evergrande adopts a tight group management model. The group directly controls all aspects of the project, planning and design, material supply, bidding, budget and final accounts, project management, quality management, sales, and property delivery. The role of regional companies is only implementation. Of course, this model is difficult to implement. This year, Evergrande Group needs to control and develop more than 8,000 buildings with more than 20 floors at the same time. But this has given birth to Evergrande’s standardized operation. In Xia Haijun’s opinion, no real estate company can surpass Evergrande in this regard. It has only three product lines, with a 5% share of high-end series – Evergrande Washington, a 70% share of rigid demand product series – Evergrande Oasis, Evergrande Yayuan, etc., and a 25% share of tourist real estate series – Evergrande Jinbi World. These products are distributed in 223 cities across the country, but each real estate with the same name looks almost identical.

Evergrande also has a unique management model, which Xu Jiayin regards as a magic weapon for maintaining long-term high growth – target plan management. "In management, usually target management and plan management are two separate chapters, Evergrande combines the two, and Evergrande’s plans are all targeted," Xu Jiayin said in an internal speech at the beginning of this year.

In Hengda Group, there is a unique department in the real estate industry – the management and supervision center. At first, there were only 10 people in this department, but now there are nearly 1,000 people, and the regional companies also have comprehensive planning departments. The two departments have formed a multi-level project plan management system, which is mainly responsible for maintaining the high-speed turnover of project development. According to Hengda, the company has detailed control over the project plan to every week, ensuring that the opening sales are opened within half a year after the land is acquired. Unless there is a serious force majeure, the opening time is a dead order.

Evergrande is about to change the development model of high leverage and high debt. Before this year, few people could say how much money Evergrande had borrowed because of its high perpetual debt. According to the 2016 annual report, the net profit attributable to the holders of perpetual debt exceeded that attributed to the shareholders of the company. It was not until early July, when Evergrande announced that it had redeemed all perpetual bonds in June, that people learned that the size of this "hidden debt" was 112.90 billion yuan, and its disappearance caused China Evergrande’s full-scale net debt ratio (including perpetual bonds) to be sharply halved.

It is undeniable that China Evergrande is still a highly leveraged company, which may even be considered abnormally high by Xia Haijun himself. Its net debt ratio is 240%. Xia Haijun said that the net debt ratio will be reduced to 140% in one year, 100% in two years, and 70% in three years. After that, China Evergrande will maintain such a "normal company" debt ratio.

The Road Ahead

In fact, Evergrande’s net profit in the first half of the year could have been even higher. The company sold its stake in Vanke to Shenzhen Metro at a very low price, losing 7 billion yuan. Of course, as Xu Jiayin said, "all things are pleasant things to do". As we all know, Evergrande Real Estate Group is advancing the plan of backdoor Shenshenfang, and the group headquarters has also been relocated to Shenzhen. Xia Haijun revealed that the appraisal agency is revaluing Evergrande Real Estate’s land assets, and the price after the revaluation of the assets will determine the valuation of Evergrande Real Estate when it goes public. The relevant work is going very smoothly, and the company will soon welcome the third round of strategic investors. The scale of this round of financing is between 30 billion and 50 billion yuan. After the financing is completed, Hengda Real Estate will formally submit a statement to the Securities Supervision Commission.

Of course, there are many people who want to participate in the business of China’s largest landowner, and Evergrande Real Estate has the active option. Its shareholder list is shining, including CITIC, Zhongrong, CEFC, Shenzhen Industry Group, Shandong Expressway, Shenzhen Guangtian, etc. All are powerful central enterprises, state-owned enterprises, large Financial Institution Groups and strategic partners.

It is worth noting that the backdoor listing of class A shares is Evergrande Real Estate Group, while China Evergrande already owns four major sectors: real estate, finance, tourism and health. In recent years, China Evergrande has been trying to diversify. It has successively "fought" FMCG and finance, but the FMCG business was eventually divested, and the financial business was affected by policy changes. Now, tourism, which is in line with the direction of expanding domestic demand and upgrading consumption, is Evergrande’s key direction.

In 2016, the "Analysis Report on the Development Model and Investment Strategic Planning of China’s Theme Park Industry" released by the Prospective Industry Research Institute pointed out that 70% of domestic theme parks are in a state of loss, 20% are flat, and only 10% are profitable. About 150 billion yuan of funds are tied up in theme park investment. This situation can also be seen in the transaction between Wanda and Sunac. According to the original transaction structure, Wanda plans to sell the Wanda City project according to the registered capital base price, so that the average price of the saleable area of the project is only more than 1,000 yuan/square meter. Such a valuation method inevitably makes people feel that those theme parks that need to be held for a long time are a "big pit".

But Evergrande is also pushing ahead with plans for theme parks, known as Evergrande Children’s World, and suddenly there are 15. In the first quarter, Evergrande Travel Group inspected 28 theme parks around the world and finally selected 33 game projects, which will be 1.5 times the size of Disney.

Evergrande Children’s World will be the only fully indoor theme park in the world, which seems magical. Evergrande may need to build a very large dome, and people will probably fall down the rabbit hole like Alice through the entrance. But these theme parks will consume a huge investment. The investment of Shanghai Disneyland without a roof is 5.50 billion US dollars. China Evergrande has not disclosed the commercial estimates of the theme park project, but Xu Jiayin obviously values Children’s World very much. In January this year, he personally participated in the project planning seminar. Maybe the man with nearly 1.50 trillion assets just wants to create some happiness.