The movie channel will broadcast Zhou Xingchi’s classic works for five consecutive days from November 20


1905 movie network feature His movie is worth revisiting.In his nearly 60 films, we are always laughed out loud by his "nonsense" at the beginning, but the ending makes us cry silently and fall into contemplation.


Every action, every line of dialogue, always allows us to see the microcosm of real life playfully.This week, the movie channel will be launchedStephen ChowMovie special, one a day for everyoneZhou XingChi’s comedy classic!


Before 1988, the young and energetic teenager Stephen Chow had been making circles in TV dramas and moviesThe Wind Catcher.Let him step into the big screen for the first time.In this movie, although Stephen Chow is a walk-on character, his acting skills are stunning enough for only five scenes.



Because of his outstanding performance in "Wind Catcher", a noble person – Li ******* quietly appeared.After being appreciated by Li *******, Stephen Chow won the movie"Pioneer Thunderbolt."Playing a slutty role inJianghuThe opportunity for a younger brother role.


There is no doubt that the role of car thief Wei Zai is also a small supporting role, but Chow Xingchi still plays very vigorously as always.


As a result, the second film played by Stephen Chow was nominated for the Best Supporting Actor Award at the 8th Hong Kong Film Awards, and began to shine in the Hong Kong film industry.But these early films did not fully reflect his unique personal style.


The appearance of the movie "A Comic to the End of the World" has given us a different look at Stephen Chow.The film not only removed Stephen Chow from his earlier role as a gangster, but also took his acting career to a new level.


A Xing, this simple and passionate character, allows us to see a brand-new Zhou Xingchi, whose nonsensical style begins to show in this movie.



Since then, Stephen Chow has been exploring on the "Nonsense" movie.In 1990, Stephen Chow’s brilliant career began, and he truly became the protagonist of a movie.


In the year when the gambling theme was all the rage, "Gambling Saint" inadvertently became the first Hong Kong movie to exceed 40 million Hong Kong dollars at the box office, and won the top ten best-selling films in Hong Kong in 1990, propelling Stephen Chow to the position of a superstar in one fell swoop.



In the same year, "Gambler" continued to write the legend of "Gambler", and the Hong Kong film industry has since added a "star".



In Stephen Chow’s "Nonsensical Head" films, the most prominent thing is the portrayal of small characters.Many of the characters he plays have the growth trajectories of being smashed to pieces and unable to form a human form, but they can be reborn in nirvana.


In the sad comedy movie "Wuzhuangyuan Su Qier" that Zhou Xingchi first starred in, which aired on November 23, the protagonist Su Can (Zhou Xingchi, played) was framed by villains when he was about to take the Wuzhuangyuan exam, and his meridians were interrupted, causing him to become a beggar.



Having enjoyed the monstrous wealth and tried the pains of the floating world, under such a life situation of ups and downs, Su Can did not give up and blame others, but accepted the challenge of fate calmly.


In the movie "Jiupin Sesame Official" broadcast on the 22nd, Bao Longxing, the small Jiupin county official played by Zhou Xingchi, is willing to do anything in order to be a clean official.


After being involved in the case of the Qi family, after several hesitations, Bao Longxing finally made a different choice from his father: adhere to integrity. Even if he was embarrassed and could not escape the execution, he did not give up his lifelong obsession with upholding justice.



In these movies, in addition to the hilarious nonsensical plot, there is more of a tragic color. Although these characters are in a mixed and muddy situation, they never stop struggling in life.


In 1994, Zhou Xingchi established Color Star Film Company. After having his own company, Zhou Xingchi began to try to transform and break through himself.


"There was a true love in front of me, but I didn’t cherish it. I don’t regret it until I lose it. The most painful thing in the world is this. If God could give me a chance to do it again, I would say three words to you – I love you. If I have to put a deadline on this love, I hope it is 10,000 years!"



This classic has touched the hearts of many people who are unable to love, those who never forget the white moonlight, those who forget each other in the rivers and lakes, those who have not cherished and treated well, and those who love and hate intertwined green years.



However, when the movie series "Journey to the West" was released, although it won many awards, the box office was dismal, until the popularity of "Journey to the West" in major universities and forums gradually reversed its reputation.


In the movies "Journey to the West: Moonlight Treasure Box" and "Journey to the West: Marrying the Great Sage" that aired on November 20 and 21, whether it is Sun Wukong, the stunning Zixia Fairy of Chow Xingchi who shuttles for love, Zhu Yin, or Wu Mengda’s unconventional Pigsy, Cai Shaofen’s majestic Iron Fan Princess, Mo Wenwei’s infatuated and single-minded Bai Jingjing…



Looking at the film again, these screen images can still evoke indelible memories in our hearts."Back then, I punched and kicked Nanshan Nursing HomeNorth SeaIn the kindergarten, everything under one meter fell down. I stomped my feet in the morgue and all stood up in disapproval. No one dared to breathe. "


Compared to other films, the movie "Kung Fu" is not as funny or tear-jerking, but this movie seems to be back to square one, fusing all the unfulfilled heroic dreams of the first half of his life.


Until today, I believe that many people will still think of "Kung Fu" when they see the colorful round wave board candy.



The movie "Yangtze River No. 7" is full of the figure of Stephen Chow’s childhood.In "Yangtze River No. 7," which aired on Movie Channel this Friday, Stephen Chow played the role of his father for the first time, which he had never played before.



"Although we are poor, we will neither steal nor rob. We will not take things that do not belong to us."



"Yangtze River No. 7" incorporates Zhou Xingchi’s own true childhood experiences and makes up for the lack of fatherly love.Although the movie is less funny, the inspirational light projected and the idealism he implied in the film are still moving.


Life is like a play, and play is like life.In Stephen Chow’s movies, we can always see hope in our sadness and give us comfort in life.



This week, the movie channel will bring you 5 classic works of Stephen Chow one day, and you will definitely be satisfied if you brush it again.


The first Geely Galaxy L7 rolled off the assembly line in Baoji, marking the Geely brand as "fully new".

On the first day of the 20th Shanghai International Automobile Industry Exhibition in 2023, the L7 on Geely’s booth was particularly eye-catching, and people who wanted to experience the Geely Galaxy L7 smart cockpit lined up.

On April 24th, in Baoji, Shaanxi, Geely Automobile Baoji Smart Factory participated in the official launch of the first Geely Galaxy L7 production car, and it was not lost at the Shanghai Auto Show.

On this day, which coincides with the eighth China Aerospace Day, "knowing what’s going on, asking the sky" is not only the mission of Chinese astronauts, but also the beautiful pursuit of "car builder" Geely. On this day, the world’s first Geely Galaxy L7 was officially rolled off the production line at Geely Automobile’s Baoji factory. Baoji City Mayor Wang Yong, Baoji City Vice Mayor Ding Shengren, Geely Holding Group Senior Vice President Mao Yong and other government and enterprise representatives, as well as media and user guests, witnessed this historic moment together. The official launch of Geely Galaxy L7 marks a new step for Geely’s brand to "fully new", and also opens a new chapter in Baoji’s new energy automobile industry.

Geely Galaxy L7 not only has the advantage of "energy-saving battery life" of mainstream hybrid products, but also achieves a generational leap in intelligent performance. Equipped with "8155 flagship cockpit chip + Geely Galaxy’s exclusive native intelligent cockpit system Galaxy N OS", Zhiai cockpit is a super intelligent end point that integrates "high value, dual computing power, easy operation, full sense, and global FOTA", dedicated to satisfying the whole family’s good yearning for intelligent travel life.

As the only four-screen linkage cockpit in the same class, the Zhiai cockpit is not only highly technological, but also interprets the "beauty of the galaxy" into details on the UI interface, achieving a perfect balance of "visual enjoyment, emotional touch, and operation fun". Subtle rounded corners, minimalist icons, clear layers, the UI interface is an affinity, warm visual and emotional experience; in application, the card grille system, accurate color scheme and efficient component library give the interface a sense of mathematical logic, bringing a clear and comfortable reading and browsing experience; in operation, the air conditioning interface, vehicle condition settings, seats… The ubiquitous visual micro-motion graphics run through almost all the subtleties that can present changes in the state of vehicle functions, making the operation full of fun.

In 2013, Geely Automobile Baoji Intelligent Factory officially landed in Baoji National High-tech Development Zone, with a total construction area of 400,000 square meters. It has four main process rooms including stamping, welding, painting and final assembly of vehicles. It has a production scale of 200,000 vehicles per year in double shifts. Since it was put into mass production in 2016, Geely Automobile Baoji Factory has delivered 840,000 vehicles to users. With highly automated equipment technology, strict technical Quality Standards, advanced AI intelligent testing methods and the whole process competitiveness quality management system, it has become the benchmark for product quality management of Geely Automobile Group.

Entering the dual-carbon era, Shaanxi Province has deeply implemented the new development concept and paid close attention to the cultivation of green and low-carbon industries. The relevant departments of the Baoji Municipal Party Committee and Municipal Government seized the opportunity and cooperated sincerely with Geely Automobile to jointly promote the automotive industry to green, low-carbon and intelligent manufacturing. Especially since 2022, with the strong support of the Municipal Party Committee and Municipal Government, Baoji Intelligent Factory has carried out innovation and upgrading, and built a 4.0 factory with "science and technology intelligent manufacturing, process leading" full-cycle AI intelligent control, to fully escort the excellent quality of Geely Galaxy L7 for ingenuity. Next, Geely Automobile and Baoji will continue to cooperate in depth on the new energy and intelligent track, and work together to promote the "Silk Road Car City" to continue to lead the new era of dual carbon.

The production of "Geely Galaxy L7" in Baoji Smart Factory will further open a new era of Baoji’s new energy automobile industry, and will also help Geely Galaxy accelerate its entry into the mainstream new energy market, opening up a new situation for the Geely brand.

Geely Galaxy L7 is equipped with a new generation of Raytheon electric hybrid technology, a new operating system Galaxy N OS and Aegis battery safety system and a series of Geely Automobile self-developed blockbuster technologies. It has five core advantages of "inductance modeling, power saving hybrid, second understanding car machine, pet co-pilot, and native safety". It has the fastest 6.9s 100-kilometer acceleration at the same level, and the lowest 5.23L/100km power loss fuel consumption at the same level of WLTC (NEDC4.4L/100km). CLTC has a comprehensive battery life of 1370km, surpassing all hybrids at the same level. With the ultimate product experience and more affordable price, it is committed to becoming the best choice for "family smart electric hybrid SUV" within 200,000. It has already triggered a booking boom. Some guests invited to the offline ceremony this time are from the first batch of users who pay the deposit.

Mao Yong, senior vice president of Geely Holding Group, said that over the past ten years, Geely Automobile and Baoji have weathered trials and tribulations, weathered each other in the same boat, and written a turbulent chapter in the development of the national automobile industry with one high-quality product. Embracing the new era of the automobile industry, Geely will continue to continue and inherit the spiritual root and dream of "Chinese craftsman", continuously lay the foundation, practice internal skills, adhere to positive research and development, enhance technological innovation capabilities, and join hands with the government to create a better future with scientific and technological intelligence, and continue to promote the continuous upward and new development of national automobiles.

Ding Shengren, member of the Standing Committee of Baoji Municipal Party Committee and Vice Mayor of Baoji City, said that the launch of Geely Galaxy L7 fully reflects Geely Automobile Group’s emphasis on Baoji Smart Factory and confidence in Baoji’s automobile industry. It will drive the development of Baoji’s automobile industry to a new height. I believe that with the blessing of Baoji’s "Silk Road Car City" business card, Geely Galaxy L7 will live up to expectations and lead the future. The two sides will also take this as a starting point to further deepen cooperation and contribute to the development of the automobile industry in the province and even the whole country.

The 5th Jackie Chan International Action Film Week, director Tsui Hark served as the chairperson of the jury

1905 movie network news The fifth Jackie Chan International Action Film Week, co-sponsored by the Movie Channel Program Center, the Datong Municipal People’s Government, and Jackie Chan International Group, will be held in Datong City, Shanxi Province from July 21 to 27. Recently, the fifth Jackie Chan International Action Film Week officially announced the list of jurors.


Among them, the Chinese director Tsui Hark will serve as the chairperson of the jury, and the Russian director Sergei Podlov, the New Zealand director Martin Campbell, the Canadian director Paul Haggis, the Japanese actor Katsuaki Kurata, the Thai director Prakia Pingkeyao, and the Chinese actor Xu Fan will serve as the jury members.



This year’s jury is full of stars and weight, which highlights the "international" and "action" characteristics of Jackie Chan International Action Film Week, but also does not lose the literary and artistic quality. The seven jury members come from four continents and six countries, fully demonstrating the multicultural vision, and will surely reflect the international tolerance and connection under the evaluation system that is more in line with the international mainstream film festival. Led by the unique action film master Tsui Hark, four action film directors and action actors, Sergei Podelov, Martin Campbell, Paul Haggis and Prakia Pinkeyao, will professionally review each action film shortlisted for the competition and every action filmmaker involved. Our country’s famous actor Xu Fan has participated in action movies starring Jackie Chan, and she will also introduce a more emotional and artistic perspective of the performance itself for the selection.



It is reported that the "Iron Man" honor selection, which is an important main activity of the 5th Jackie Chan International Action Film Week, will determine various honors after the selection and discussion of the jury. A total of 8 "Main Honor Unit" honors, including Best Action Film Honors, Best Action Film Director Honors, Best Action Actor Honors, Best Action Actress Honors, Best Action Direction Honors, Best Cinematography Honors, Best Editing Honors, and Best Art Design Honors, will be announced at the closing ceremony and honor ceremony of the 5th Jackie Chan International Action Film Week on July 27.


Judge style



Famous Chinese director and producer. In his early years, he stood out from the film industry with his unique style and skilful skills. After directing many film classics such as series, he also supervised many well-known film works such as series and series. In 2009, his directing works were shortlisted for the competition section of the 67th Venice Film Festival, and later swept a number of Chinese film awards including the Best Director Award at the 30th Hong Kong Film Awards. Since then, his works have frequently created brilliance in terms of technology and achievement: in 2011, it became China’s first IMAX 3D film; in 2013, it innovatively introduced underwater 3D technology; in 2014, it won the New Year’s box office championship with good reputation, and won many awards including the Best Director Award at the 35th Hong Kong Film Awards; in 2017 and 2018, "Di Renjie’s Four Heavenly Kings" won praise such as "Wonders of Chinese Film" for their excellent visual effects.



A famous Russian film director, writer, and producer, widely regarded as the most prestigious filmmaker in Russia. His films have won many awards around the world. Among them, his most famous films have been nominated for the Academy Award for Best Foreign Language Film and have been successfully distributed in 61 countries. His masterpieces also include "Captive of the Caucasus", which was also nominated for an Academy Award, and was nominated for a Golden Globe Award.



New Zealand’s renowned director and producer, who specializes in giving action movies a new form. His directorial masterpiece not only won Oscar and Golden Globe nominations for Best Picture, but also helped Antonio Banderas and Catherine Zeta Jones become true international superstars. He directed "007: Golden Eye", which is widely regarded as the rebirth of the James Bond series, and first chose Pierce Brosnan to star in 007. In addition, another 007 series of action-adventure films directed by him is also the first film in the series to be introduced to Chinese mainland theaters. In 2017, his action film based on the novel was released globally, starring Jackie Chan and Pierce Brosnan.



Canadian writer, director, producer, two-time Oscar winner, two-time Emmy winner, and seven-time Gemini winner. He was nominated for an Academy Award for screenplay for three consecutive years for his film "Letters from Iwo Jima" and won the Academy Award for Best Original Screenplay for "Crash". In addition, "Crash" also won him the current Academy Award for Best Picture. In addition, he has also participated in the screenwriting of many action movies such as "007: Casino Royale", and has written and directed many other films.



Japanese action movie actor, karate seventh dan, judo third dan, aikido second dan, is a true kung fu master. He officially joined the film industry in 1968. Since he starred in Chinese movies in 1971, he has starred in many Hong Kong action movies, worked with director Zhang Che and martial arts stars Chen Guantai, Liang Xiaolong, etc., and knows Mandarin and Cantonese. In the 1990s, he starred in the classic action movie "The Chinese Man". Since 2000, his performance has been representative. In 2007, he won the Best Action Actor of the Chinese Kung Fu Global Festival, and won the Best Actor of the 24th Hong Kong Film Critics Society Award for the role of Vice-General Xiong Ze in the movie "Dango", becoming the first Japanese best actor and the oldest winner of the award.



One of the most famous action film directors in Thailand and Asia, the director’s masterpieces include many others. In his works, all the action scenes are real people, without using any digital special effects, to show the power of Muay Thai to the fullest. Tony Jia became known to global audiences for his work and became a world-renowned action film superstar. In 2003, he directed "Boxer", which became the highest-grossing Thai film of the year and caused a worldwide sensation.



A famous Chinese actor who has developed in many fields such as film, drama, and television. Her film representative works include, among others, the Outstanding Actress Award at the 5th and 14th China Film Huabiao Awards, the Best Actress Award at the 5th Asian Film Awards, the Best Actress Award at the 24th Cairo International Film Festival, and the Best Actress Award at the 6th British Wanxiang International Chinese Film Festival; her representative drama works include "Wotou Guild Hall", etc., which has won the 13th "Plum Blossom Award" and the 6th "Wenhua Award" of the Ministry of Culture; her TV drama representative works include "Sunrise" and "Tsing Yi", etc., and Zeng won the Outstanding Actress Award at the 23rd China TV Drama Feitian Award.


Takeaway bearish, preferred layoffs, stock price flash crash, Meituan is not beautiful?

Source: No. 1 Finance, Author: Chongshan

No. 1 said: The stock price has collapsed, can it still be eaten?

The restaurant laughed and Meituan cried. The reason is that Meituan-W (03690.HK) was "precision hit".

This is to start with the notice issued by the National Development and Reform Commission on February 18 "Several Policies for Promoting the Recovery and Development of Difficult Industries in the Service Sector". The document pointed out that the guidance of Internet platform companies such as takeout to further reduce the service fee standards of catering merchants means that the commission fees of "takeaway Internet companies" will further decline.

The largest representative of "takeaway Internet companies" is Meituan. According to the data of Prospective Research Institute, Meituan accounted for 67.3% of the total takeaway market in Q1 2021, which is 2.5 times that of the second Ele.me. According to Meituan’s Q3 2021 financial report, the revenue of takeaway business accounted for 54.24% of the total revenue, while the commission fee was 69% of the takeaway revenue.

On February 18, Meituan’s share price plunged, plunging 14.86% that day, and the market value evaporated 200 billion.

This is not the first time Meituan has been subject to policy supervision. On October 8, 2021, Meituan was fined 3.442 billion yuan by the State Administration of Municipal Supervision for implementing "two choices" measures for catering merchants over the past few years.

After the fine, the market fell to Meituan’s hanging heart, and all shouted that it was empty. Meituan’s share price has risen for two consecutive trading days since then, and hit a new high since July 26. Meituan’s 2021 Q3 financial report performance further stabilized the market’s heart, and its takeaway business revenue increased by 28% year-on-year to 26.50 billion yuan.

According to the 2021 Hurun China 500, Meituan ranks third among the top three domestic internet companies by market capitalization as the "biggest winner of the past year", while Alibaba and Tencent have plummeted in "value", fallen in the rankings, and were placed in the top two of the "biggest losers of the past year".

Meituan faces a dilemma

Meituan might have been stable without the "super bearish" on February 18. But Meituan’s long-standing "dilemma" has planted the seeds of its bearish situation.

One "difficult" situation is the thin profit margin of Meituan takeaway. In Q3 2021, the profit per order was only 0.2 yuan, and in the same period in 2020, it was 0.24 yuan.

In order to increase the profit of takeout, Meituan has continuously increased the commission rate (the proportion of commission that Meituan draws per takeout order) over the years. According to Meituan’s annual financial reports, its average commission rate for takeout has increased from 1.1% in 2015 to 12% in 2020.

Increasing the commission rate will naturally lead to conflicts with catering merchants. Meituan has always occupied about 60% of the takeaway market, and merchants have no other choice. They have to swallow it and keep reducing costs.

The epidemic in 2020 has exacerbated this contradiction. Under the epidemic, the catering industry has been hit hard and has to rely on takeout. Meituan’s high commission rate has been pointed out by the "Guangdong Catering Industry to Meituan Takeaway Joint Negotiation Letter" that "greatly exceeds the critical point that the majority of catering merchants endure". Catering associations in Sichuan, Chongqing, Shandong, Yunnan and other places have also publicly "shouted" Meituan and other platforms in the past two years to reduce the commission rate.

This puts Meituan in another "difficult" situation, that is, the pressure from the catering industry to reduce commissions.

Meituan has also expressed its position to adjust the commission system, but the profit margin of Meituan’s takeaway business is thin, so the adjustment cannot fully meet the demands of the catering industry.

For example, in May 2021, Meituan launched a rate transparency pilot, splitting the original platform service fee into two parts: technical service fee and fulfillment service fee, and "refining" the commission. But the new model did not reduce the commission rate of Meituan takeaway. In Q3 2021, the commission rate was still 11.78%, which was not much different from the average commission rate of 12% in 2020.

Epidemic has been on and off for 3 years. According to the Prospective Research Institute, 1 million catering companies closed down last year, and the hotel catering industry ranked first in the top ten shrinking industries. At this time, the National Development and Reform Commission, as a regulatory department, took action and asked the takeaway platform to reduce the commission rate. Although it hit Meituan accurately, it was also very reasonable.

(Source: Prospective Research Institute)

Which business can support Meituan?

With supervision, Meituan must really reduce the commission rate in the future. This will lead to a thinner takeaway business, and Meituan must find a new solution, that is, Meituan must have another business on top, replacing the takeaway business as Meituan’s new revenue pillar.

In this regard, Meituan’s idea has always been to use the drainage effect of takeaway business to develop new business. In terms of traffic, according to Meituan’s Q3 earnings report in 2021, as of Q3, the number of annual active users reached 668 million.

Meituan’s new businesses include Meituan Preferred, Fast Donkey, Meituan Flash Sale, Meituan Market, Meituan Preferred, etc. According to Meituan’s financial report, these new businesses have been developing slowly.

Specifically, fast donkey and Meituan flash sale has not yet developed, according to late Latepost, as early as August 2021, fast donkey, flash sale business has begun to shrink, Meituan began to focus on fresh food e-commerce business Meituan market and community group buying business Meituan preferred.

Meituan market currently uses the front warehouse model, but according to iiMedia consulting data, as of September 2021, its MAU users are only 2.58 million, less than 1/13 of the front warehouse model of Dingdong Maicai 34.71 million, and there is no influence in the market.

Meituan Preferred has become a new hope for Meituan’s new business. According to the statistics of the Financial Union, Meituan Preferred and Duoduo Shopping are located in the first echelon of the domestic community group buying platform industry, with a market share of about 30%. However, this is obtained by constantly burning money.

According to Meituan’s Q3 financial report in 2021, Meituan’s new business loss, which is mainly based on Meituan’s preference, reached 10.906 billion yuan, which is the highest single-quarter loss since Meituan entered the community group buying, an increase of 437.5% year-on-year; Moreover, in one year, Meituan has lost 36 billion yuan in this regard.

Not only is it losing money, but Meituan’s new business has always accounted for a small proportion of revenue. According to Meituan’s financial report, from Q3 2019 to Q3 2021, Meituan’s new business revenue accounted for only 7.24 percentage points in two years, reaching only 28.1%, unable to support the main beam alone. Meituan’s takeaway business has always accounted for more than 50% of revenue.

In fact, compared with the regulatory pressure on Meituan’s takeaway business, Meituan is under greater pressure.

Since 2020, Meituan and other large factories have participated in the "burning money" war of community group buying, and have been targeted by supervision. They have been criticized for "thinking about a few bundles of cabbage" and grabbing business with small merchants and hawkers. On December 22, 2020, the General Administration of Market Supervision put forward "nine no’s" for community group buying, mainly focusing on low-price dumping, big data killing, and commodity quality control.

On March 3, 2021, the General Administration of Market Supervision imposed administrative penalties on four community group buying enterprises, including Meituan Preferred. Two months later, on May 27, it separately fined Shihui Group 1.50 million yuan for low-price dumping and ordered it to suspend business for rectification. Since then, it has been reported that Shihui Group has laid off employees. According to a report in January by the Daily Economic News, Shihui Group is gradually shutting down grid warehouses and self-pickup stations across the country, or preparing to apply for bankruptcy liquidation.

Like the Ten Hui Group, on November 11, 2021, the official website of the Municipal Administration of Supervision also announced a separate punishment for Meituan Preferred, involving improper price behavior. On February 17, there was also news of Meituan Preferred’s layoffs.

Business model may be flawed

Meituan has long been known as the "king of losses" due to thin profits in the takeaway business.

In 2018, Meituan lost 115.50 billion, which caused a sensation in the catering industry at that time. In 2019, Meituan made a short-term profit, but not from the profits brought by takeout, but from investment income. In 2020, Meituan made a real profit, with a net profit of 4.71 billion yuan for the whole year, and the stock price reached a record high of 460 Hong Kong dollars in February 2021.

In 2021, Meituan began to lose money again in Q1. In the first three quarters of 2021, Meituan has accumulated losses of 18.197 billion yuan, an increase of 361.8% year-on-year, and once again became the "loss king".

In the current secondary market, the investment logic for listed Internet companies has changed. Previously, as long as the market size of Internet companies grew, even if they lost money, they were still recognized by the market. Today, the market also requires Internet companies to be profitable.

After the huge loss of community group buying business Meituan Preferred, Meituan has no new story. Recently, the story told to capital markets is only a strategic cooperation with Kuaishou. Kuaishou users can place orders through the Meituan Mini Program, which is still to expand Meituan’s takeaway business. At present, after the notice of the National Development and Reform Commission was issued, Kuaishou’s share price also fell by 4.86%.

From this perspective, Meituan’s share price is likely to decline in the future.

Meituan’s business model is actually flawed.

Looking at Meituan’s various businesses, whether it is takeaway, Meituan Preferred, Meituan Market, flash sale and other new businesses, although the service scenarios are different, they are all inseparable from Meituan delivery. Meituan delivery belongs to instant delivery in the same city.

Intra-city instant delivery, which provides logistics distribution between location A and location B within a city, is about maximizing efficiency. The market is huge, with a compound annual growth rate of 30.5% from 2020 to 2025, according to iResearch. However, companies in this industry are all losing money because instant delivery relies heavily on manpower, and labor costs continue to rise. SF Intra-city, an instant delivery company listed in 2021, will account for 96.6% of operating costs in 2020.

Meituan delivery is more efficient, but the labor cost is still high. According to Meituan’s public information, in 2020, riders’ expenses accounted for 83.1% of Meituan’s takeaway commission, compared with more than 90% before. For instant delivery companies such as Meituan, to some extent, they are working for riders.

Meituan has also tried every means to reduce the expenditure of riders. In May 2021, Wang Lin, deputy director of the Beijing Municipal Bureau of Human Resources and Social Security, bluntly stated that in order to reduce costs, the registered riders on the Meituan platform are not Meituan employees, but outsourced. This was later reported that Meituan riders were required to register as self-employed to avoid paying social security.

However, on July 26, 2021, seven departments including the General Administration of Market Supervision have clearly requested to protect the legitimate rights and interests of takeaway food delivery staff. Undoubtedly, Meituan’s rider spending will further increase.

To solve the flaw in Meituan’s business model, we can only rely on unmanned delivery.

As early as 2016, Meituan began to develop unmanned delivery technology. According to the research report of China International Capital Corporation, it is expected that by 2023, Meituan’s unmanned delivery cost will be controlled at about 2.9 yuan per order, while according to Meituan’s public information, in 2020, the rider delivery cost will be about 7.2 yuan per order.

(Meituan unmanned distribution development process, source: CICC)

At present, Meituan is increasing its research on unmanned delivery. In Q3 2021, Meituan’s R & D investment increased by about 60% to 4.70 billion yuan year-on-year. However, unmanned delivery faces not only technical problems, but also regulatory risks, such as the slow process of opening up the right of way in policy and the state’s supervision of data security.

All in all, Meituan takeaway is bearish, Meituan prefers huge losses and layoffs, Meituan’s share price has collapsed, and in the future, Wang Xing can still "eat"?

Shared power bank charging is not awesome? Authoritative test found the reason

I am most afraid that my mobile phone will run out of power when I go out.

I haven’t brought a power bank yet.

Sharing the power bank is the "savior" at this time.

Come and see

Fuzhou City Consumer Protection Committee of Fujian Province recently issued

Comparison and evaluation results of 16 shared power banks

1. All safety protection items have passed the test.

2. All signs and warnings are not standardized.

3. More than half of the output capacity at room temperature is not up to standard.

There are 16 samples in this comparison test, with nominal rated capacities ranging from 2800mAh to 5000mAh, including 8 brands of street electricity, small electricity, incoming calls, monster charging, cloud charging bar, Hudian, Meituan, and Sodian charging.

Note: The shell of the shared power bank is marked with "Battery capacity: 5000mAh" and the words "5000mAh" in large characters, but the rated capacity of the shared power bank is not indicated, so this value is regarded as the rated capacity, the same below.

Can be rented without deposit with credit points

For the 8 shared power bank brands in this comparison test, consumers only need to use mobile devices such as mobile phones to scan the QR code on the device screen through credit points (or pay the deposit) to rent a shared power bank, eliminating the risk of consumers returning the deposit. If the shared power bank is not returned after a certain period of time, it will be regarded as a consumer purchase and relevant fees will be deducted. Among them, the cloud charging bar is 100 yuan each, and other brands are 99 yuan each.

Signs and warnings are 100% non-compliant

According to Article 24 of the "Regulations on the Implementation of the Standardization Law": "Enterprises that implement national standards, industry standards, local standards or enterprise standards in production shall mark the code, number and name of the execution standard on the product or its manual and packaging."

In the case that the shared power bank cannot provide consumers with instructions and packaging, the standard information should be marked on the battery body.

According to GB 31241-2014 "Safety Requirements for Lithium-ion Batteries and Battery Packs for Portable Electronic Products" and GB/T 35590-2017 "General Specifications for Mobile Power Supplies for Portable Digital Devices in Information Technology", the identification and warning instructions for shared power banks are as follows:

Use Chinese to indicate the product name, battery type, model, rated capacity, rated voltage and current, positive and negative polarity (products that can be structurally guaranteed that users cannot cause misinsertion under any use conditions can not be marked with polarity), manufacturer or trademark. And there should be Chinese warning instructions on the body or minimum packaging of the battery pack, such as: do not disassemble, hit, squeeze or put into fire; if there is serious expansion, do not continue to use; do not expose to high temperature environment.

The signs and warnings of this shared power bank comparison test are all non-standard, which should attract the attention of relevant operating enterprises and management departments.

Half of the shared power banks were not marked with Chinese warning instructions such as "Do not disassemble, hit, squeeze or put into fire", "Do not continue to use if there is serious expansion" and "Do not place in a high temperature environment" to remind consumers of safe use precautions;

Except for the product standard "GB/T 35590-2017" marked on the call and the "battery type: lithium polymer battery" marked on the monster charging, the rest are not marked with product standards or battery types;

Cloud charging bar, search power charging logo is too simple, search power charging is not even marked with rated capacity.

More than 50% of the output capacity at room temperature is not up to standard

Shared power bank increases with the number of charges

Output capacity decay may occur

If the operating company is not replaced in time

Products with an effective output capacity lower than the rated capacity

It will mislead consumers

Cause consumers to pay normally

But it cannot achieve the corresponding charging effect.

There are even potential safety hazards

This comparison test takes the effective output capacity at room temperature as an important comparison indicator for shared power banks, and tests the effective capacity of the final conversion output after multiple losses when the shared power bank works. In simple terms, it is the capacity that consumers can actually use when charging.

According to GB/T 35590-2017 "General Specification for Mobile Power Supply for Information Technology Portable Digital Devices", the effective output capacity at room temperature should not be lower than the rated capacity, and the appearance of the mobile power supply should be free of obvious deformation, and it should not explode, vent, catch fire, leak, or break.

Among the 16 shared power banks in this comparison test, the two samples of the Sodian power bank could not be tested due to the need to use a dedicated charging box, and the other samples did not have obvious deformation in appearance after the test, nor did they explode, deflate, catch fire, leak, rupture, etc.

However, the effective output capacity of 8 of the 14 samples tested was lower than the nominal rated capacity, and the deviation was more than -10% in 6 models. Among them, a shared power bank from Yunchong Bar was even lower than the rated capacity by 62.4%.

All safety protection items passed the test

In this comparison test, three safety protection functions of overcharge protection, overdischarge protection and short circuit protection of the samples were tested. The results showed that among the 16 samples, except for the two samples of power search and charging that could not be tested due to design problems, the remaining 14 samples could be activated for protection, and there was no explosion, deflation, fire or liquid leakage.

In addition, this comparative test also tested the external short circuit items of the cells (lithium batteries) in the shared power bank at room temperature, and the results showed that 16 samples of the shared power bank met the standard requirements.

Consumer Tips

Buy a shared power bank to do

"One choice, two looks, three distinctions, four uses"

1. Select the brand after-sales service.

Try to choose a shared power bank brand with a large market size, many cooperative merchants, and guaranteed after-sales services to avoid situations such as rental products that cannot be charged, easy borrowing, continuous deduction after return, and poor customer service communication.

2. Check the appearance of the product

When taking out the shared power bank, first check whether the surface of the product is clean, whether it is deformed and cracked, whether the logo is clear, whether the interface touchpoint is rusted, whether the interface line is damaged, and whether it can charge the device normally.

Step 3 Identify key information

Consumers should first look at the rated capacity when choosing a shared power bank, and do not be misled by the battery capacity marked by individual companies in large characters. The larger the rated capacity, the longer it takes to charge the relevant equipment, and the more times it is charged.

4. Proper and safe use

When using a shared power bank, it should be handled with care to avoid falling, impact, and contact with heavy objects or sharp metal parts, causing the internal battery bulge to break. At the same time, the input and output ports should not be in contact with metal parts such as keys to prevent internal short circuits.

Source/China Consumer News · China Consumer Network

Reporter/Zhang Article

Ren Xianqi, who gained weight crazily, turned into a greasy uncle and almost went blind for a movie

Xianqi appeared in a video on a website. Although he is nearly 55 years old, he is in good condition and looks. Three years ago, he gained 100 kilograms for a movie, so Ren Xianqi lost 30 kilograms in four months.

Because of the epidemic, Ren Xianqi was very concerned about everyone and told everyone to pay attention to their health at ordinary times and not forget to exercise even indoors. Hearing such a warm reminder, everyone couldn’t help but smile and recall that Ren Xianqi was complained by the majority of netizens and became a greasy uncle.

Three years ago, during the filming of Ren Xianqi’s movie "Horse Running", in order to conform to the character’s image, he did not hesitate to gain 26 kilograms of weight, eating high-calorie food every day, from 74 kilograms of weight to 100 kilograms of big fat. Because of the rapid weight gain, his health was seriously damaged, and his blood sugar and blood lipids rose rapidly to double highs.

Moreover, due to overeating, stomach acid reflux was caused, and the throat was burned, which seriously affected the vocal cords, and the voice became hoarse. However, the keyboard warrior who did not know the truth practiced the magic of flicking his fingers. Seeing that Ren Xianqi had become fat, he complained one after another and left comments on the Internet, teasing Ren Xianqi for turning into a middle-aged greasy uncle.

But Ren Xianqi didn’t care, nor did he explain the reason why he suddenly became fat. He patted off these trivial ironies like dust. What he cared about was how to make a good movie. In fact, it was not the first time that Ren Xianqi worked hard to make a good movie. During the filming of "Exile" with director Du Qifeng, Ren Xianqi almost went blind due to the quality problem of the props.

The old man often said: The amount is big and the blessing is big. This is inseparable from the idol influence of Xiao Qi’s debut for many years, zero scandals, zero stains, and positive energy.

When it comes to Ren Xianqi’s debut, one has to look back on his teenage experience.

In 1966, Ren Xianqi was born in Changhua County, Taiwan Province. Hubei people are unparalleled in intelligence. The Ren family’s ancestral home is in Wuchang County, Hubei Province, which is now Jiangxia District, Wuhan City.

It is true that people from Hubei are smart. His father, a primary school teacher, has a lot of knowledge. He thought that the meaning of "seeing the virtuous and thinking of Qi" was very good, so he named Xiao Qi Ren Xianqi, which means that when he sees people with both political integrity and ability, he must not only learn from him, but also strive to surpass him. Facts have proved that Ren Xianqi did live up to his parents’ ardent hopes when he grew up. It may be his lifelong pursuit to be a person with both moral integrity and ability.

Ren Xianqi grew up in Changhua Village. The folk customs and cultural environment in the village are slightly different from those in big cities. The folk customs are simple and simple. This simple and unpretentious atmosphere has a deep influence on Xiao Qi. After growing up, he treated his friends sincerely and thoughtfully, and was also influenced by this ethos.

When he was in high school, Brother Qi fell in love with a girl from the school next door. Later, he learned that the girl especially liked the guy who could play the guitar, so he practiced the guitar hard. Gradually, he fell in love with music and wrote many songs on the guitar sheet. The song "Flowers Will Bloom in Spring" was written for the girl he liked, and this song later became the title song on his personal album.

When every Taiwanese boy turns 18, he will face the test of a bar mitzvah, which is to sign up for the army. However, almost every boy’s parents do not want to enroll their child in the Marine Corps, because everyone knows that it is the most rigorous force for physical requirements, and the military training there is also the hardest. In 1984, Xiao Qi Ge’s parents drew lots for him to decide where he would join the army, and they were quite lucky and helped him win the army at once.

Although the experience of being a soldier was very hard, it also trained his strong physique, and because of his excellent performance in the army and outstanding performance in various physical training, in 1987, he was sent to the Department of Physical Education of China Culture University. Although he left his hometown and came to Taipei to study, he never forgot the girl he liked in high school, nor the guitar he liked. During school, he formed the ATP choir himself, and served as the guitarist and lead singer.

In 1988, Xiao Qi Ge continued to make efforts in the field of music. He began to serve as a Dunhuang campus DJ and participated in hundreds of campus concerts during his time in school, thus accumulating rich performance experience and establishing the status of a campus red card DJ. The name Ren Xianqi became popular in Taiwan’s colleges and universities for a while.

Brother Qi was so outstanding. Logically speaking, as a figure in the school, he should attract many girls, but in fact, the other boys in the band had been pursued by many girls, but Brother Qi had never received a love letter. Later, a sophomore junior told him that he looked like a prodigal son, so no girls dared to approach him.

Ren Xianqi felt very aggrieved. Later, he learned that the girl’s name was Chen Zeyu and her English name was Tina. Brother Qi’s primary school girl was not an ordinary person. She participated in singing competitions at the age of six and won many international, domestic and major competitions.

In addition, Chen Zeyu not only sings well, but also looks very beautiful, because she has the genes of a mixed race of the Three Kingdoms, and her figure is also very good! Such a beautiful woman swayed in front of Ren Xianqi, like a dazzling ray of sunlight, shining into Brother Qi’s heart. After the two met, they often had heart-to-heart conversations, and the talents and women were paired, becoming a beautiful scenery on the campus.

Chen Zeyu felt that the person who had a dream would not be a prodigal son, so she dared to approach him boldly, and when Xiao Qi was in a bad mood, she often comforted him and enlightened him. Xiao Qi was deeply attracted by her gentle personality.

Young people get together and often talk about their future dreams. Xiao Qi’s wish is to be a singer, and Chen Zeyu dreams of becoming a fashion designer. From 1988, the two people who have the same heart and soul started a long-distance love run that lasted for more than 10 years.

In his senior year, Xiao Qi was discovered by Taixinge Records, so after graduation, he was signed to work under the label of Xingge Records and officially entered the entertainment industry. In 1990, Ren Xianqi and his contemporaries in the company jointly released the compilation album "Run to the Rainbow". With his many years of performance experience, Ren Xianqi made his debut and occupied the "C position". After that, Ren Xianqi joined the underground band snake with great enthusiasm. At this time, Ren Xianqi was full of momentum and released three solo albums one after another.

However, life is like a roller coaster, with sudden twists and turns, which caught people off guard. The company went bankrupt due to poor management. As an artist under the company, Ren Xianqi and his colleagues were acquired by Rolling Stone.

In that era, under the Rolling Stones, there were many big names, and Luo Dayou, Zhao Chuan, Zhou Huajian and others were called legends. How could such a top organization in the industry look at a young star who had just debuted? Therefore, the company had the idea of laying off Brother Qi.

His stage name was Little Bug, and his real name was Chen Huanchang. This person was one of the "three godfathers" of the music industry in Taiwan. He was on par with Luo Dayou and Li Zongsheng.

Such a childlike person had extraordinary eyesight. He could see the difference between Brother Qi and others. He believed that this young man was by no means a thing in the pool and would eventually make his mark.

Many years after this incident, the prediction of "Little Bug" has been confirmed, and the Chinese music scene cannot be without Ren Xianqi.

Although the company kept Brother Qi in the face of the "little bug", it did not reuse him. Therefore, for the next three years, Brother Qi has been doing behind-the-scenes work, but he has no complaints. Because as long as he can do music-related work, he is already very happy. Although his situation was very similar to "Xuezao" at that time.

However, before Han Xin became the Marquis of Huaiyin, he had suffered the humiliation of his crotch. For Brother Qi, he did not care about this grievance. Therefore, he did not complain and worked hard according to the company’s arrangements.

Later, Brother Qi’s contract was about to expire, and "Bug", who was busy with music production every day, realized that three years had passed, and Xiao Qi had been standing still for so long. Thinking of this, Bug’s heart rose with a passion to make him famous.

As a result, a bug tailor-made for him "rely on" turned out, this song is Ren Xianqi’s debut album under the new owner of Rolling Stone, as the title song, so far, sold 160,000, although the sales are not particularly good, but this song is of great significance.

As the saying goes, those who gain the Tao are more helpful, and those who lose the Tao are less helpful. The friendship between men is called I have the ability, so I let you rely on me, help you go straight to the sky, and when I am in trouble, you fall from the sky, help me on the road, and move forward together. This song, called "Relying on", fully reflects the brotherhood between Ren Xianqi and the little bug.

Due to the poor performance of the new album and the average sales, Xiao Qi’s contract was about to expire, so the little bug fought for one last chance to keep him.

"Too Soft Heart" came out under such a background, and this song was specially written by Xiaowu for Ren Xianqi.

When the song was just logged into the music market, the response was mediocre, so the question of Xiao Qi’s whereabouts was once again put on the company’s motion. Obviously, this time, he was about to be fired. However, at this critical moment, things went into a shocking reversal. "Too Soft Heart" quickly became popular in the mainland with a turbulent trend. The song sold 26 million amazing results.

Therefore, Rolling Stone quickly renewed Ren Xianqi, because if the action is slower, this rising star is likely to be poached. After that, the company began to rebuild Ren Xianqi. After that, it produced and published a series of albums such as "Very Hurt" and "Love You Only" for him. Ren Xianqi has since opened the "peak era" of keeping pace with the Four Heavenly Kings.

It is because of the little bug that Ren Xianqi has gradually reached the peak of his career. Because of this, Ren Xianqi has the most sincere gratitude for the little bug. Later, the little bug was deceived by his friends, his accountant ran away with the money, and the little bug was in a penniless situation.

Hearing this news, Ren Xianqi didn’t say a word. He directly offered one million in cash to the little bug, and declared, Brother, you can use it well, and there is no need to return it.

Afterwards, someone asked him why he did this? Ren Xianqi said in a flat tone: If there was no little bug brother, there would be no me, Ren Xianqi, today.

In 1998, Ren Xianqi released the album "Love is like the Pacific". With this album, Ren Xianqi played a beautiful carousel, and the song returned to Taiwan from the mainland. Songs such as "Ren Xiaoyao" and "Sad Pacific" are classics of Ren Xianqi after "My Heart is Too Soft". These popular works across the country broke the record of record sales in the history of Taiwan music.

In 1999, Brother Qi was invited by CCTV to participate in the Spring Festival Gala of the same year, and became the only Taiwan artist at the party that day; in the same year, Ren Xianqi starred in the big screen debut "Star Wish" released; in 2000, the Xiao Qi family was established in the mainland, and in this year, he starred in "Summer Tea" was also released, and achieved a good result of more than 20 million Hong Kong dollars. After the release of "Marry a Rich Man" in 2002, the box office performance was still good. Since then, Xiao Qige’s film and television songs have progressed hand in hand, and his career has also flourished.

Perhaps for every star, the obscurity before becoming famous is all preparation for Yiming’s astonishment. During those most difficult days, his girlfriend Chen Zeyu never gave up to support and encourage him. Her girlfriend, who is full of strength, helped Xiao Qi get through that three-year "dark" period. Now, finally keep the clouds open and see the moon bright. Finally see hope.

Marrying a man and starting a family is a major event in life. Since his career has reached its peak, starting a family is also on the agenda. When Brother Qi held a concert abroad, he and his girlfriend "got married notariously".

At that time, as public figures, the two chose to get married in a low-key way without a wedding, so at the 2013 concert, Ren Xianqi guiltily told Chen Zeyu: "I owe you a wedding," but the wedding is nothing more than a way to look lively to outsiders. As long as you really love each other, then this form is not so important.

After getting married, the two gave birth to two children, and the family of four settled down in Hong Kong. Through the photos, the whole family smiled like flowers. Maybe happiness should be like this. I originally intended to wash away the lead for you and make soup. You are willing to be indifferent to fame and fortune for me. Fortunately, at the best age, we did not miss each other. Friendship and love are just as much. Thank you for meeting you in life and hearing your singing is a true happiness.

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

Responsible editor:

Passengers report that the price of online car-hailing has risen, and experts warn the industry of signs of monopolistic development

  core reading

  Recently, many passengers have reported that in the past few months, the fare of online car-hailing has increased a bit. The online car-hailing platform said that the basic fare has not been raised, and the subsidy has indeed been adjusted, but it is also to ensure the success rate of car-hailing, and the price is transparent and voluntary. Experts point out that under the pressure of funds, the low-price marketing strategy cannot be sustained. However, we should also pay close attention to whether there is any sign of monopoly in online car-hailing, and take countermeasures to protect the rights and interests of consumers.

  Recently, many passengers have reported that Didi, Uber and other online ride-hailing fares have risen, but subsidies have become less and less, and morning peak fares must be doubled. What is the situation of price increases? What is the reason for the price increase? The reporter conducted an investigation.

  Passenger: Shenzhen, Beijing has risen, but Shanghai does not feel obvious

  At 8:40 a.m. on September 20, on Meishan Street, Futian District, Shenzhen, the reporter opened his mobile phone to call Didi Express. The app showed that the original fare of more than 20 yuan had increased by 1.2 times to nearly 50 yuan. If you don’t agree to double the fee, you can’t call a car.

  The reporter agreed to double, but no driver took the order for a long time. Just as he was in a hurry, a taxi happened to pass by, so the reporter gave up calling for the express train and took a taxi instead. After half an hour, it only cost 33 yuan to arrive at the destination, which was more than 10 yuan cheaper than the express train.

  "The price has gone up too fast." Ms. Chen lives in Xixiang Street, Baoan District, Shenzhen, and often uses Didi and Uber to commute alternately. "In March and April this year, Uber carpooling cost more than 30 yuan, and Didi carpooling cost more than 50 yuan. In July and August, Uber carpooling cost more than 80 yuan, and Didi carpooling cost more than 70 yuan. Now, Uber carpooling costs 91 yuan, and Didi carpooling is 93 yuan."

  The increase in fares is closely related to the reduction in subsidies. "In the beginning, the amount of vouchers was large, and it was very common to have 60% off car vouchers. But now, it is usually more than 10% off," said Mr. Zhang, a Shenzhen resident. "Generally, you can only get a discount of two or three yuan, which is pitiful."

  Passengers in Beijing are also facing price increases and reduced subsidies. Mr. Yang, a Beijing resident who works in Chaoyang District, often takes an Uber to return to his home in Tongzhou District during Friday night rush hour, a journey of about 16 kilometers. In June, taking People’s Uber cost about 35 yuan, but there was a 10 yuan coupon. Now there are no coupons for the same trip and time period, and the actual payment fee has increased.

  Are all the extra fares paid by passengers given to online taxi drivers? In this regard, Master Lian, who has been a full-time Didi driver for more than a year, said: "Our income has decreased." He said that a year ago, the monthly income could exceed 10,000 yuan, but now it is only 5,000 or 6,000 yuan. "You have to run 25 orders a day to get an 80 yuan reward, not even one less order."

  However, there are regional differences in the price of online car-hailing, and the price increase is not obvious in some cities.

  In Shanghai, reporters have taken Didi Express or carpooling and People’s Uber many times in the past few days, and the distance is usually 5 kilometers to 10 kilometers. With subsidies, the fare is as low as two or three yuan, and as much as less than 30 yuan, and there is no obvious pressure to increase the price. If you take a taxi, Didi and Uber are still much cheaper.

  The reporter also learned from Shanghai Uber that the price of People’s Uber has not increased recently, but has instead dropped, including a comprehensive reduction in basic fares.

  Enterprise: The basic fare has not increased, and the subsidy is dynamically adjusted

  Didi Chuxing said that the specific subsidy and reward standards in various places will be adjusted according to market conditions.

  "Didi Express is in Shenzhen. Since April this year, the price has not changed. The pricing rule is still 1.8 yuan per kilometer and 0.5 yuan per minute." Li Mei, the public relations department of Didi Chuxing, said that the current pricing rules are detailed in the Didi mobile app. "The price is very transparent, and passengers have an estimated price before each order."

  Uber China Shenzhen market manager Zhang Jiahao also made it clear that Uber has not raised the basic fare recently, and the price per kilometer and per minute is consistent with Didi.

  As for subsidies, Li Mei responded that subsidies are a marketing activity that will be adjusted according to market conditions. "City travel itself is dynamic, so subsidies for drivers and passengers should also be dynamic. Future subsidies will be intelligently adjusted according to time, location, order conditions, and supply and demand, with the ultimate goal of improving the success rate of users’ ride-hailing," Li Mei said.

  "In the last two weeks, we reduced passengers by 4 yuan, and this week we reduced them by 6 yuan, and the discount is even stronger." Zhang Jiahao said that Uber will issue coupons to all users through text messages, self-media and other channels.

  For the doubling of morning peak fares, Li Mei explained that the system will match a reasonable price increase multiple for each order based on real-time supply and demand conditions. "Dynamic price adjustment may not only be used during peak periods, and in areas with tight transportation capacity, prices may also increase during off-peak hours. Dynamic price adjustment is not mandatory. If you don’t mind waiting, you can choose not to increase the price." Li Mei said.

  Except for Didi, the prices of other online car-hailing companies seem to have changed little. The relevant person in charge of Yidao told reporters that from November last year to the end of June this year, Yidao has maintained a preferential activity of recharging 100 yuan and getting 100 yuan back, which is equivalent to users can take a taxi at half price.

  Facts also prove that the competition is far from over. On September 22, Shenzhou Special Car, which has always adhered to its own vehicles and adopted the B2C model of heavy assets, announced that it launched the "U + open API" and promised never to take a cut. Shenzhou’s involvement in the C2C model and the practice of not taking a cut of driver income will make the direction of the market more uncertain.

  Lu Zhengyao, chairperson and CEO of Shenzhou Youche, said that the "U + open API" is the same as the price charged by Shenzhou’s own vehicles, which is higher than the price of cruise cars and express cars. But Shenzhou has also launched a new round of promotion plan of "charging 100 to get 50 back", and the actual price after discount is similar to the price of cruise cars.

  Enterprises generally believe that changes in market prices are closely related to the evolution of the future competition landscape. The relevant person in charge of Yidao said that the online car-hailing industry does not have the gene of monopoly, and anyone can use price leverage to enter the market at present.

  Didi Chuxing also said that mobile travel is an emerging market with huge incremental space. At the same time, the industry competition is still very fierce, and new companies continue to join. For a long time, as one of the marketing activities, red envelope subsidies for passengers and driver rewards will continue to be distributed.

  Expert: normal business conduct, but need to be vigilant against monopoly

  What is the reason for this round of online car-hailing price increases represented by Didi and Uber? How should we view it?

  In the opinion of Su Kui, a transportation research expert in Guangdong, there are many factors behind Didi’s price increase: First, after Didi merges with Uber China, effective competition will decrease, and the price is fundamentally determined by market competition. If there is no price competition pressure on the platform, the price will naturally be higher. Secondly, since Didi has a large number of users at both ends of the driver and passenger, it cannot increase the scale of subsidies by much, which means that the marginal effect of subsidies is very low, and it is a normal business decision to reduce or even cancel subsidies. Furthermore, the drivers of the special car platform have been a large number of full-time, and the cost of each transportation has little to do with the way of leasing. The price will eventually be closer to the traditional cruise taxi, reflecting the cost more. Finally, reducing subsidies is also related to the possible financial pressure on the platform in the future, or investors’ desire to make profits as soon as possible.

  Experts say the price increase is largely due to a change in the previous low-price marketing strategy.

  "As a means of promotion, companies can use low prices to acquire users, but it doesn’t mean that companies have to keep low prices all the time." Fu Weigang, a researcher at the Shanghai Institute of Finance and Law, cited the example of e-commerce as an example. "Everyone is used to the annual’Double 11 ‘carnival, but if there are consumers who think that e-commerce must maintain the same price as’Double 11’ for 365 days, it is a big mistake."

  "In the past two years, ride-hailing companies have attracted a lot of users through various means such as discount coupons and vouchers. But it is unrealistic to think that this low price will last forever. Because in addition to discount coupons, they have their own price system." Fu Weigang said that low prices can be regarded as a marketing strategy, but should not be taken for granted. "After all, Didi and Uber are not obligated to subsidize consumers’ travel with losses forever."

  Regarding the current competition landscape in the market, Su Kui judged that the threshold of the online car-hailing market seems to be relatively low, but it is actually relatively high, mainly due to the high capital threshold. Therefore, in the future, there may continue to be some regional platforms emerging in various places to compete and restrict the existing platforms. But at the national level, the online car-hailing market pattern will not change much in a considerable period of time.

  So, will Didi’s merger with Uber China create a monopoly? Su Kui believes that due to the uniqueness of its service features (such as mobile phone hailing, electronic payment, etc.), the online car-hailing market is to a certain extent independent, but there is a certain substitution for traditional cruise taxis. "Whether it involves monopoly depends on two points: first, whether the cruise car can be improved and developed in the future, especially whether the policy can moderately loosen the restrictions on the cruise car, so as to form checks and balances on the platform; second, during peak periods or special weather, when supply and demand are unbalanced or when supply and demand information is asymmetric, due to insufficient effective competition, how to prevent the platform from abusing its market dominance."

  Regarding the second point, Su Kui further stated that due to the particularly obvious tidal nature of the transportation market, abuse of market dominance is most likely to occur during peak periods and special weather. Relevant platform companies can promise the society that the dynamic price increase at peak times shall not exceed a certain multiple to protect consumer rights and interests.

  Peng Chen, a member of the Shenzhen Municipal Committee of the Chinese People’s Political Consultative Conference, has been paying attention to the topic of transportation. She suggested that the government should pay close attention to whether there are signs of monopolization in online car-hailing and use the Antimonopoly Act to supervise in a timely manner. In addition, for online car-hailing to charge double fares during peak periods, Peng Chen suggested that the tax on the premium part should be collected separately from the normal fare. "The early rush hour of online car-hailing has exacerbated the congestion on urban roads. The government can use this part of the tax to subsidize urban public transportation."

  (Lv Shaogang, Liu Zhiqiang, Shen Wenmin, Chen Yuzhu) (Chen Feixue participated in the collection and writing)

Notice of Hangzhou Municipal Bureau of Planning and Natural Resources on Printing and Distributing the Regulations on the Administration of High-precision Maps of Intelligent Connected Vehicles in Han

All relevant units, sub-bureaus, county (city) planning and natural resources bureaus:

In order to strengthen the management of high-precision maps, standardize the use of high-precision maps, promote the development of intelligent networked vehicles, and maintain the security of geographical information, our bureau has formulated the "Regulations on the Administration of High-precision Maps of Intelligent Networked Vehicles in Hangzhou", which are hereby issued. Please abide by them carefully.

Hangzhou Municipal Bureau of Planning and Natural Resources

October 23, 2023

(This article is published publicly.)

Hangzhou regulations on the management of high-precision maps for intelligent networked vehicles

In order to strengthen the management of high-precision maps, standardize the use of high-precision maps, promote the development of intelligent networked vehicles, and maintain geographical information security, these regulations are formulated in accordance with the relevant provisions of the Surveying and Mapping Law of the People’s Republic of China, the Map Management Regulations, the Ministry of Natural Resources Notice on Promoting the Development and Maintenance of Intelligent Networked Vehicles, and the Hangzhou Measures for the Administration of Intelligent Networked Vehicles Testing and Application, and in light of the actual situation of this city.

These Provisions apply to activities such as data collection, storage, transmission, processing, production and use of high-precision maps of intelligent networked vehicles (hereinafter referred to as high-precision maps) within the administrative area of this Municipality.

The term high-precision map as used in these regulations refers to an electronic map mainly used for assisting the driving of intelligent connected vehicles with high position accuracy.

High-precision maps mainly include maps of L4 and above autonomous driving systems (hereinafter referred to as high-precision maps) and maps of L3 and below autonomous driving systems (hereinafter referred to as high-precision maps).

III. The management of high-precision maps follows the principles of law and regulation, full-process monitoring, equal emphasis on management and service, and safety and control, and implements classification and grading management.

The Municipal Bureau of Planning and Natural Resources is responsible for the city’s high-precision map management.

Units engaged in the production of high-precision maps shall obtain corresponding surveying and mapping qualifications in accordance with the law, or entrust units with corresponding surveying and mapping qualifications to carry out corresponding surveying and mapping activities.

The data storage server for high-precision maps shall be located within the territory of the People’s Republic of China. High-precision map data shall be encrypted with domestic commercial passwords that meet security standards, and transmitted through network channels with security measures to ensure the security of geographic information data.

The high-precision map data to be transmitted overseas shall be subject to the approval procedures for external provision according to law.

The production of high-precision maps shall comply with the technical requirements of the Zhejiang provincial local standard "Intelligent Connected Vehicles, Road Basic Geographic Data Specification" (DB33/T 2391-2021), follow relevant regulations, and standardize the production and expression of data collection and map elements.

Eighth, high-precision maps shall be treated with state-recognized geographical information confidentiality technology.

Nine, before the high-precision map is publicly used or delivered for application, it shall be submitted to the Zhejiang Provincial Department of Natural Resources for map review through the Zhejiang Government Service Network (map approval) according to regulations, and the map review number shall be obtained according to law.

The Municipal Bureau of Planning and Natural Resources, through the Hangzhou Intelligent Connected Vehicle Data Application Safety Monitoring Platform, obtains relevant information on the use of high-precision maps in intelligent connected vehicle testing and application activities, and collaborates with relevant departments to organize and carry out pilot supervision and inspection of high-precision map applications in accordance with the law. Strengthen process supervision and on-site inspections, and promptly deal with and supervise rectification of discovered problems.

During the production and use of high-precision maps, any organization or individual that violates laws and regulations on surveying and mapping geographic information shall be dealt with in accordance with the law.

These regulations shall come into force on December 1, 2023.

Notice of Hangzhou Municipal Bureau of Planning and Natural Resources on Printing and Distributing the Regulations on the Administration of High-precision Maps of Intelligent Connected Vehicles in Hangzhou

N things to advance into a space power, do you know? – Uncovering a new blueprint for China’s space exploration dream

  Xinhua News Agency, Beijing, November 22 Question: Do you know the N things that make China a space power? – Uncovering a new blueprint for China’s space exploration dream

  Xinhua News Agency reporters, Chen Fang, Yu Xiaojie, Hu Zhe

  Tiangong, Tianyan, Wukong, Mozi… In the report of the 19th National Congress of the Communist Party of China, major breakthroughs in the aerospace field were "named". Aerospace powers "draw" a grand blueprint for building a modern socialist power in an all-round way.

  The Beidou satellite navigation system has entered the era of global networking, and the Fengyun meteorological satellite "family" has added new members… In less than a month after the 19th National Congress of the Communist Party of China, China’s aerospace activities have been frequent. Facing the future, what new wonders will China’s aerospace write?

  Long March 8’s maiden flight, rocket recycling: China’s aerospace "major project" takes over

  Aerospace powers usually have advanced space power and large-scale launches, and can carry out lunar sampling and return, Mars landing and exploration, and build and operate space stations. Behind these "landmark" events, a country’s advanced manufacturing capabilities in design, technology, and materials, as well as the ability to coordinate multi-system research such as probes, launch sites, and measurement and control.

  On November 16, the Academy of Launch Vehicle Technology of China Aerospace Science and Technology Corporation released the "2017-2045 Space Transportation System Development Roadmap", systematically planning the capacity building prospects and development blueprint of the Long March series of launch vehicles.

  The Long March 8 will make its maiden flight in 2020, the heavy launch vehicle will make its maiden flight around 2030, the launch vehicle will be fully reused around 2035, the future generation of launch vehicles will be put into use around 2040, and the ability of large-scale man-machine collaborative exploration of space will be available in 2045…

  Qin Xudong, deputy director of the General Office of the First Hospital of China Aerospace Science and Technology Corporation, introduced that the roadmap issued this time is detailed and has clear goals, whether it is hot topics such as space tourism and recyclable rockets that the public is more concerned about, or future smart rockets, manned moon landings, manned Mars landings, etc.

  In order to explore the mysteries of the starry sky, generation after generation of astronauts have continued to struggle, our country has successfully developed more than ten types of Long March series carrier rockets, forming satellites, spacecraft and other spacecraft to any orbit of the earth, with the carrying capacity to carry out lunar and deep space exploration, which has strongly supported the successful implementation of major national projects such as "manned spaceflight", "Beidou navigation" and "lunar exploration".

  The white paper "2016 China’s Aerospace" shows that since 2011, China’s aerospace industry has continued to develop rapidly, with a significant increase in its independent innovation capabilities and a significant increase in its ability to enter space.

  Wu Yanhua, deputy director of the State Administration of Science and Industry for National Defense and deputy director of the National Space Administration, said that over the past 60 years, China’s aerospace industry has achieved a series of brilliant achievements represented by "two bombs and one satellite", manned spaceflight, and lunar exploration. With China’s continuous research on key technologies such as heavy-duty rockets, non-toxic and non-polluting medium-sized rockets, and low-cost transportation rockets in the future, China’s ability to enter space will be further enhanced, and the pace of exploration of the vast universe will be faster and faster.

  Beidou to navigate, the wind and clouds to know the sky: will space tourism still be far away?

  China’s aerospace industry is getting stronger and stronger. Will the space tourism expected by ordinary people be far behind? According to the plan, suborbital space tourism will become a reality around 2025.

  In the future, commercial solid launch vehicles will work together with liquid launch vehicles to provide users with diverse, low-cost, and highly reliable commercial launch services such as "space hitchhiker", "space shuttle", and "VIP special car", providing a richer range of vehicles for humanity to jointly explore the universe.

  Tang Yagang, president of China Aerospace Science and Technology Corporation’s First Institute Rocket Company, introduced that by around 2035, our country’s launch vehicles will be fully reused, and more ordinary people can take two-stage reusable vehicles to travel in space, enjoy the vastness of space and the splendor of the earth in the earth’s orbit, and realize the dream of flying.

  Whether it is the Beidou-3 satellite that "shocks the world" or the Fengyun-3 satellite that "watches the wind and clouds and knows the sky", a batch of "high-end" aerospace technology has gradually been "transformed" into a convenient "welfare": no matter where you are, "Beidou" will help you navigate; without leaving home, "Fengyun" will help you know the sky; surfing the Internet and making phone calls in a plane at an altitude of 10,000 meters is no longer a dream.

  On November 15, our country’s first interferometric hyperspectral greenhouse gas monitor, the Suifengyun-3 satellite, successfully entered the scheduled orbit of space. This "eye" can not only observe a variety of atmospheric components, but also detect the change in the concentration of carbon dioxide in the air by 4 parts per million, making it a powerful tool for scientists to study the carbon cycle. In its birthplace, the 508 Institute of the Fifth Academy of China Aerospace Science and Technology Corporation, it is understood that it has ranked 156th among the "brothers and sisters" of remote sensors that enter space and operate in orbit from here.

  "China’s aerospace industry has long been more than just a representative of the’tall ‘." Gao Hongwei, chairperson of China Aerospace Science and Industry Corporation, believes that the needs and calls of the people are the voice of the times for scientific and technological progress and innovation. At present, more than 2,000 aerospace technology achievements in our country have benefited the national economy and people’s lives.

  Mars and asteroids take turns to appear: the mystery of the starry sky never stops

  Facing the future, there are still many "big moves" in our country’s aerospace industry. According to the relevant person in charge of the National Space Administration, in addition to continuing to implement existing projects, a number of new major aerospace projects will also be launched one after another, including deep space exploration projects represented by Mars exploration, asteroid exploration, planetary crossing exploration, and the much-watched "moon exploration project".

  Lei Fanpei, chairperson of China Aerospace Science and Technology Corporation, said that by 2020, our country strives to achieve more than 200 spacecraft in orbit and about 30 launches a year, basically reaching the level of the world’s aerospace powers.

  "At present, 30% of our country’s aerospace technology indicators have reached the international first-class level. By 2030, we will strive to increase this figure to 60%, ranking among the top aerospace powers in the world; by 2045, we will fully become a world aerospace power." Lei Fanpei said.

  According to the plan, the future of our country’s heavy launch vehicles will be close to 10 meters in diameter, will use the thrust of 500 tons of liquid oxygen kerosene engine and thrust of 220 tons of liquid hydrogen liquid oxygen engine. That is to say, the future of our country’s launch vehicle capacity from the current more than 20 tons to increase 4 to 5 times, to 100 tons.

  Lu Yu, director of the Science and Technology Committee of the First Academy of China Aerospace Science and Technology Corporation, said that by around 2030, our country’s heavy-lift carrier rocket will achieve its first flight. At that time, our heavy-lift carrier rocket with a 100-ton carrying capacity in low-Earth orbit will provide strong support for manned moon landing and sufficient carrying capacity for Mars sampling return.

  "If you don’t forget your original intention, you have to stay the same." Zhang Zhongyang, president of the Second Academy of China Aerospace Science and Industry Corporation, said that looking back on the past, China Aerospace has written countless wonderful moments in the sky of history; in the future journey, China Aerospace will definitely mark the new height of China’s development with new achievements.

Meituan shared car settled in Chengdu: the new gameplay after the giant invasion has been launched

Authors: Wang Xunkui and Zhou Xiaodan

Before the trial and error of the blue strands, after the drop of strict prevention, Meituan’s shared car business is destined to wade through a muddy road.

Geek Park has learned that Meituan’s time-sharing car business has been launched in Chengdu’s Pidu urban area, called "Meituan Car Rental", and this app can already be downloaded on the app store. At present, there are only two fuel models, Volkswagen Langyi and Volkswagen Santana. According to the available vehicles on the user map, it is estimated that there are about 50 to 100 vehicles in operation. Orders are still calculated according to "frequent + mileage".

Meituan has established a mobility division internally, and new businesses in the mobility field, including shared cars, Meituan maps, and driverless and taxi-hailing, are slowly being integrated into this division. According to media reports in early November, Meituan is recruiting relevant teams.

After testing the water taxi business in Nanjing at the beginning of this year and launching the Mobike bicycle entrance in September, Meituan’s hunger for big travel has stopped concealing.A former Meituan executive told Geek Park that within Meituan, travel has been listed as one of the company’s key business directions in 2018.

Like the ride-hailing business that went live before, Meituan’s shared car timeshare rental business will be piloted in a single city first.

A person close to Meituan told Geek Park that in the planning stage of this business, domestic second-tier cities including Chengdu, Xiamen, Hangzhou, Nanjing, and Chongqing were all considered by decision-makers, but because "Xiamen market is too small, Hangzhou is heavily guarded by Ali, and it is afraid of diverting Nanjing’s taxi business. Chongqing also has a relatively mature start-up company (Panda car) to take root and try," and finally chose Chengdu.

Meituan’s almost borderless business expansion model has made it an "outlier" in Internet companies. Previously, Meituan’s layout in the travel field was explained by Wang Xing as "starting from the needs of customers", "anything related to food and life, we should consider participating."

The shared car timeshare rental market in Chengdu is not a blank. At present, there are already many timeshare rental companies such as Panda Car, Go Fun, EVCARD, and Tuge in the streets of Chengdu.

Although it is far from Beijing, Shanghai, Guangzhou and Shenzhen, Chengdu has long been the best training ground for time-sharing rentals.

The greatest dividends come from the policy levelIn September 2017, the General Office of the Chengdu Municipal People’s Government issued the "Notice on Encouraging and Regulating the Development of New Energy Vehicle Timeshare Leasing Industry", which directly stated that Chengdu will increase policy support for new energy vehicle timeshare leasing enterprises, and gave specific goals: "By the end of 2018, the city will basically form a new energy vehicle timeshare leasing service network, with 2,500 service outlets and 10,000 charging piles; by the end of 2020, the city will form a comprehensive new energy vehicle timeshare leasing service network, with 5,000 service outlets and 20,000 charging piles."

The release of this policy has brought a huge incremental market to Chengdu. At the same time, compared with Beijing, Shanghai, Guangzhou and Shenzhen, which strictly control the number of car license plates issued, Chengdu has not yet issued a license restriction order, which also lowers the threshold for "intruder" Meituan.

"Chengdu government support is relatively strong, the crowd is relatively open, and the traffic conditions are relatively good." Zeng Hao, the head of Panda’s Chengdu operation, said that he has not yet received news that Meituan’s time-sharing rental business is going to land in Chengdu, but he speculates that the good market and policy environment in Chengdu may be an important reason for Meituan’s choice.

The data shows that Chengdu is the second largest car ownership market in the country except Beijing, with car ownership exceeding 4 million and driving license ownership reaching 7 million. After a period of operation, Zeng Hao is very optimistic about the capacity of the Chengdu market:"That is to say, about 3 million people have a driver’s license without a car, and even if only 2% of them use shared cars, there is still 60,000 market space to explore."

In terms of vehicle sources, Chengdu-based shared car operators also have an advantage. Since 2007, Chengdu Economic Development Zone has been turned into a "Chengdu Automobile Industrial Park" specializing in the development of complete vehicles and supporting parts. In the International Automobile City located in Longquan, Chengdu, including Geely Volvo, FAW-Volkswagen, FAW Toyota, Chengdu Ruihuaxian Energy Automobile and other automobile manufacturers have established large production bases.

According to the above-mentioned person close to Meituan, similar to other domestic shared car operators, Meituan will also adopt the cooperation method of financing and leasing with several car factories and rental companies to "get the car": "In the early stage, fuel vehicles and new energy vehicles may be deployed, but in the future, new energy vehicles may be the main one."

For Meituan, choosing Chengdu can be described as the right time and place. But it is not easy to land services in this city in the southwest.

Meituan’s previous data and offline operation and expansion capabilities were largely based on the business of takeaway, in-store service, and even other life services. Whether it was the difficulty of operation or scheduling, it had little in common with car timeshare leasing. In fact, Meituan’s test of the water is very likely to "start from scratch".

But Meituan’s internal expansion into new businesses is also very "goal-oriented", the person close to Meituan said: "Usually a goal is set first, and then external resources are found, rather than judging by how much resources the company has."

The early entry of Go Fun and Panda cars and EVcards has established certain resource barriers to varying degrees.

For example, parking stations are still a scarce resource for the time being, and developing them is not an easy task. At present, Go Fun (Beijing Shouqi Zhixing Technology Co., Ltd.), which has the largest market share in Chengdu, is a wholly-owned subsidiary of Shouqi Group. In February this year, Go Fun officially signed a cooperation agreement with Sichuan Transportation Investment Group and established a joint venture company, and then launched the Go Fun Sichuan Jiaotong cooperation project.

According to a local car-sharing operator in Chengdu, Sichuan Transportation Investment Group controls all public and road parking spots in the city. "It would be great if the number of on-street parking spaces could be increased, which is very helpful for improving operational efficiency."

In order to facilitate charging and changing electricity and improve operational efficiency, shared car operators generally recommend that users park their vehicles at the company’s stipulated parking spots. And the resources of such parking stations are almost exclusive to each company. At present, Panda has won more than 200 parking stations in Chengdu, each of which can accommodate 10 to 20 vehicles."After all, some of the resources in a city are limited," Zeng Hao admitted that Panda’s parking resources still need to be expanded, "but at least our stations have signed contracts, so it is more difficult for new entrants to expand parking resources in the same places."

As a unicorn whose valuation has soared to $30 billion, Meituan’s every invasion can trigger an earthquake in a specific field. According to a person familiar with Meituan’s travel business, like previous attempts at power banks and convenience stores, Meituan is just pushing forward with a test of the water for shared cars. "Whether it will be done on a large scale in the end is still uncertain."

This is the expansion logic of Meituan’s new business.

In November, Meituan announced the closure of the power bank business. Wang Huiwen, senior vice president of Meituan Review, mentioned in an internal letter that Meituan’s important basis for judging whether to close a new business or increase investment or continue to explore is, "The strategic synergy value between our existing business, if the future market size is not large enough, but the strategic synergy value is large enough, you can consider expanding operations, otherwise it should be closed."

How big is the shared car market? Previously, in an interview with a Geek Park reporter, once CEO Wang Yang used a "self-created" calculation method to roughly estimate the size of the shared car market."The number of people in China who have a driver’s license – the number of private cars in China + 20% of the limited number of people, according to the use of 4 people in a car, and then a 50% discount for urbanization (the requirement for travel), based on the rental price of 150 yuan a day in China. If these are counted as the demand for shared cars, this is about a 300 billion market."

Since 2015, a large number of test-takers have flooded into the shared car timeshare rental field. After a few years, there have been a lot of casualties, and there are very few positive cases for reference.

At the outset of the market, the participants were mixed up and each had their own plans. "Car manufacturers use their left-hand products to buy their right hands and earn subsidies, while the right-hand products are used for shared cars." A practitioner broke the news that there was even a situation in the industry where the subsidy income of new energy vehicles exceeded the income of car sales.

But starting in 2016, subsidies for new energy vehicles were fully reduced and subsidy reviews were upgraded. The "policy dividend" gradually disappeared, the bubble stirred up by the trick of cheating and subsidies was pierced, and shared cars ushered in a real corpse.

This is still a game without a clear business model. This has also directly led to the cautious attitude of capital towards the industry. Several investors contacted by Geek Park expressed their "wait-and-see attitude".

Once the heavy investment of assets, whether it can "make money" has become a harsh criterion for considering the industry, while challenging the patience of investors. The break-even line that shared cars aspire to has risen and fallen, and no explosive breakthrough has been achieved so far. An investor who focuses on the shared car sector told Geek Park: "On average, it takes three orders per car per day to make money, and the GO FUN with the highest market share in the country can reach an average of 1.5 orders."

Most of the experimenters are still looking for a breakthrough from a single city. Not long ago, TOGO Tuge CEO Wang Lifeng mentioned at the B round financing conference that Tuge has been able to "level or even start making profits" in Beijing; according to another person in charge of a shared car company who did not want to be named, they can reach four or five orders a day in a good season, with a daily profit of 150 yuan per car.

In October this year, EZZY, which was closed down after only one and a half years of operation, is a typical example. EZZY, which focuses on the mid-to-high-end market, once used the method of "not caring about wear and tear efficiency" to create the ultimate user experience. The model of "burning money" made it extremely dependent on capital. When the 40 million yuan financing was exhausted, the capital chain was broken, and the business ended.

"This is a very heavy O2O field. Although EZZY has received 40 million before, this amount is too small for this industry." The person in charge of the shared car told Geek Park.

Meituan, which just announced a $4 billion financing in October, may become a giant in this field in terms of capital volume. Once it enters the market, it also means that Meituan has further penetrated the hinterland of Didi after the taxi business.

In fact, existing players in the industry are all worried about Didi’s next move. "Compared to Meituan and Mobike, which recently announced the news, we will be more concerned about Didi’s entry. Didi has government resources, funds, and a lot of travel user data, which is likely to bring about some different changes."

Didi, which has a clear first-mover advantage, is taking action.According to a car-sharing company executive contacted by Geek Park, he has received an invitation from Didi headhunters, but after the exchange, the executive said that Didi has not disclosed the specific gameplay for the time being, "I think they may not have thought about it."

Meanwhile, as recently as November, Didi’s vice president in charge of automotive business, Yang Jun, also publicly stated that Didi wants to become an operator of new energy vehicles and charging stations – a layout that can also help Didi pave the way in the field of shared cars.

"This industry still lacks an Internet company that relies on" technology "and volume to win. At present, the policies for shared cars in various places have become clearer. The next step is to see who can do this job that requires heavy asset control capabilities and extremely refined operations." An investor who focuses on the travel sector told Geek Park.

Before there were uncertain industry attempts, followed by Didi’s strict defense, Meituan’s shared car business attempts were doomed to navigate a muddy road.

However, for the entire industry, the arrival of the era of giant invasion must not be a bad thing.