After 1.1 billion yuan of "advertising door",There is also a big alarm.

　　BYD has always been regarded by many people as the leader of domestic new energy vehicles and the spokesperson of domestic independent brands. In just five years after listing, the operating income reached 100 billion yuan. However, with the release of the 2017 annual report and the first quarter report of 2018, it shows that BYD’s operating conditions are not optimistic. This paper discusses and analyzes BYD’s operating conditions from the financial point of view.

　　Affected by the decline in subsidies for new energy vehicles, BYD’s net profit in 2017 fell by 19.5% year-on-year, and its net profit in the first quarter of 2018 plummeted by 83.1% year-on-year. And in a quarterly report, it is estimated that the net profit attributable to shareholders of listed companies will drop by 82.59% to 70.98% from January to June this year.

　　The 1.1 billion "advertising door" incident in July this year pushed BYD to the forefront of public opinion. Some critics outside believe that such an incident has exposed some problems in BYD’s management. Will management problems have an impact on the company’s business? We can observe its real operating ability and financial situation by analyzing its financial statements.

　　The difficulty of profitability and growth ability

　　Table 1 BYD’s gross profit margin in 2015-2018

　　Table 2 BYD’s net interest rate in each period from 2015 to 2018

　　As can be seen from the chart comparison, although BYD’s gross profit margin has declined slightly in recent years, it is still relatively stable, but the net profit rate has generally declined since 2017, reaching 1.07% in the first quarter of 2018, down 71.16% year-on-year. At the same time, according to the 2017 annual report, although BYD’s operating income increased by 2.36% year-on-year, its net profit returned to its mother decreased by -19.51% year-on-year, and its non-net profit decreased by 35%. Then we will horizontally analyze the results of BYD’s main business income and gross profit margin in 2017 compared with the same industry to determine the reasons for the decrease in profits. BYD’s main business is mobile phone parts and assembly, automobiles and related products, rechargeable batteries and photovoltaics. We take Foxconn, Beiqi New Energy,For comparison.

　　Table 3 Comparison of gross profit margin and changes of BYD’s main businesses with the same industry in 2017

　　It can be concluded that the yield of BYD’s mobile phone sector and assembly industry is good, but the yield of automobile industry and battery and photovoltaic industry is worrying.

　　On the whole, there are four reasons.

　　First, the state subsidies for new energy vehicles have fallen sharply. In 2017, the subsidies for new energy vehicles fell by about 20%, which directly led to the decline of the company’s performance. If the new energy policy continues, this unfavorable factor will continue.

　　Second, industry competition has intensified. I am in 2017The total sales volume of automobiles in the whole year was 777,000, and all major automobile companies showed strong interest in the field of new energy vehicles, such as established BAIC, GAC and SAIC, and emerging Weilai and Tucki, which doubled the pressure on BYD. And in 2018, joint venture brands also began to enter the market, and BYD will face more intense competition.

　　Thirdly, BYD’s power battery industry is under great technical pressure. At the same time, it has been suppressed by Contemporary Amperex Technology Co., Limited, and its battery sales have been surpassed.

　　Fourth, considering the cost, the prices of the four core raw materials for manufacturing batteries have risen steadily, which has greatly reduced BYD’s battery profits. It is predicted that if these four problems can’t be solved in time or enterprises can’t find another way in the future, BYD’s profitability and growth ability will continue to decline.

　　Table 4 Sales volume of domestic mainstream independent brand new energy vehicles in 2017

　　Pressure of debt repayment

　　Table 5 BYD in 2015-2017,、Solvency index

　　Comparing BYD with two companies in the same industry, it is found that BYD’s solvency is significantly lower than that of the other two companies, which deserves our attention. In particular, the quick ratio and cash ratio are far lower than those in the same industry, which shows that there are risks in the short-term solvency of enterprises, and cash and cash equivalents are difficult to repay the current liabilities borne by enterprises. At the same time, it also proves that BYD’s accounts receivable and inventory are relatively high in the same industry. Then let’s analyze the status of BYD’s inventory, accounts receivable and prepayments.

　　Table 6 Changes of BYD’s inventory, accounts receivable and prepayments in 2015-2017

　　BYD’s accounts receivable increased by 24.20%, prepayments increased by 312.24%, and inventory increased by 14.32%, which was amazing. These data potentially show that BYD does not hesitate to sell on credit in order to expand the market and improve its competitiveness. At the same time, its bargaining power has begun to weaken in the face of suppliers. Excessive inventory also affects the turnover efficiency of enterprises and increases the occupation of funds. All these situations are warning the increasing financial pressure of enterprises.

　　Operational capacity that needs to be improved urgently

　　Table 7 Operating Capacity Indicators of BYD, Changan Automobile and Yutong Bus in 2015-2017

　　The data shows that BYD is also under pressure compared with its peers in terms of operational capacity. Compared with the industry, BYD’s inventory turnover days, total assets turnover rate and average collection period are weak. In 2017, average collection period is even 21 times that of Changan Automobile, while the inventory turnover days are about 4 times that of Yutong Bus, which reflects the poor liquidity of enterprises and highlights the urgent need for improvement in their current assets management.

　　The core reason why the 1.1 billion "advertising door" incident has had such a great impact on BYD is that once this incident is settled, BYD needs to bear part of the responsibility, which is undoubtedly unbearable for investors. After all, BYD’s net profit in the first quarter of this year was only 102 million yuan.

　　No matter from the "advertising door" incident or the above analysis of BYD’s operation from the financial indicators, they all sounded the alarm for BYD’s management. As a leader in energy vehicles, it needs perfect corporate governance, and more importantly, it needs excellent results to repay investors. Otherwise, investors will vote with their feet.

From January to July this year, the cumulative sales volume of Chery Group was nearly 1.3 million vehicles, up 45.4% year-on-year. Among them, SUV sales continued to maintain the first domestic market share in the first half of this year! In order to achieve further progress, following the listing, a number of SUV models of Chery Automobile will be upgraded in the second half of this year. At the recent 2024 Chery Automobile Mid-year Business Conference, a number of new models, such as brand-new, 25 models, 25 models and sports versions, were collectively unveiled. Let’s take a look.

Seeing the 7 Sports Edition at first sight can’t help but give people a sense of sight of Land Rover Aurora. Fangzheng’s full front is equipped with an inverted trapezoidal blackened air intake grille, which is connected with rectangular LED daytime running lights on both sides. In addition, the English logo on the hood and the tough trapezoidal lower grille are exactly the same as Land Rover Aurora. At the same time, it is not difficult to find that the shape of the split headlights of the Tiggo 7 sports version is quite similar to that of the exploration 06, and the side of the car body also adopts a sliding-back suspended roof, which is basically consistent with the hidden door handle.

The blackened wheels and red brake calipers are not absent, and the external "small schoolbag" storage box at the D-pillar position is more wild and beautiful. The tail also uses a penetrating taillight, but it is redesigned for the rear enclosure, adding a diffuser-style silver guard plate, with an extended reflective strip and a blackened tail, and the fighting feeling is ready. The "AWD" logo means or will be equipped with the full-scene intelligent four-wheel drive system of the same paragraph of Exploration 06. It is expected that the power will also be equipped with Kunpeng 1.6TGDI engine +7DCT gearbox.

The 25 models of the Tiggo 7 PLUS are equipped with a front face design similar to that of the Tiggo 8L. The larger air intake grille is supplemented by chrome-plated lattice elements, coupled with the sharp double "L" headlights and the exaggerated "C"-shaped air duct, which makes people feel more domineering. The side of the car body presents a more slippery shape, chrome trim strips are added to the lower edge of the window, and the chrome trim at the side skirt is also adjusted. In terms of power, refer to the current Tiggo 7 PLUS, providing 1.5T and 1.6T engines, matching CVT or 7-speed dual-clutch gearbox.

The change of the new Tiggo 8 PLUS is also obvious.The rounded air intake grille adopts dense X-shaped chrome-plated elements, and the split headlights are replaced. Among them, the sharp daytime running lamp is added with the element of "Dapeng spreading its wings", and the lower rectangular far and near light group is integrated with the "C"-shaped air duct, and connected with the grille through blackened decorative panels, further enhancing the visual tension. In addition,Brand new tiggo 8 PLUSIt will also be equipped with hidden door handles, brand-new turbine wheels, penetrating taillights, etc., and add a variety of trendy car colors.

According to the previously exposed real car map, the new Tiggo 8 PLUS will adopt an interior style similar to that of the Tiggo 8L. The simple center console is equipped with a suspended large screen, a full LCD instrument panel and a HUD head-up display, which is very scientific and technological. And comfortable facilities such as electronic pocket guard, wireless charging of mobile phone, Queen’s co-driver with electric leg rest, boss key, Sony stereo, etc. are also available. In terms of power, the new Tiggo 8 PLUS will continue to be equipped with 1.6T and 2.0T engines, of which the 2.0T engine will match the 8AT gearbox.

As the flagship model of the Tiggo family, 25 Tiggo 9 models will be replaced with more dense straight waterfall air intake grille, which will give you a sense of dignity, and the redesigned transverse front enclosure will undoubtedly have more visual impact. The huge and full body with the brand-new dense wheel hub continues to emphasize the flagship positioning. With reference to the current model, the whole system is equipped with a 2.0T engine, with a maximum power of 192kW (261HP). The transmission system is matched with 7DCT or 8AT gearbox, and equipped with timely four-wheel drive and CDC "magnetic suspension".

Of course, the information about the new car has yet to be officially announced, and we will continue to pay attention. Then, what do you think of Tiggo 7 Sport Edition, 25 Tiggo 7 PLUS, the new Tiggo 8 PLUS and 25 Tiggo 9? Welcome to leave a comment.

CCTV News:A helmet, a battery car, behind the battery car body is a large storage box with large and small express boxes inside. At first glance, these couriers in Hongkou District of Shanghai are no different from ordinary couriers, and they are already familiar with local residents. But if you look closely at the red vests they wear in uniform, you will find that the words "deaf-mute delivery" printed on them are silently telling them that they are hearing-impaired people who can’t hear and speak.

They come from a team called "Wusheng Express", a newly established company in Shanghai, which is the first company specializing in recruiting deaf people. Gu Zhong, 36, is the initiator of this project.

Silent express, exploring a new mode of employment for the disabled

Before recruiting deaf-mute people to deliver express delivery, Gu Zhong had been engaged in social work to help disabled friends for many years. At the beginning of this year, he contracted a charity supermarket in the community and suddenly encountered an epidemic. In order to find a way out for the deaf-mute friends in the supermarket, Gu Zhong thought of a way to let them try to deliver the courier first, although he was not sure whether it would work.

Just do it, Gu Zhong began to take the initiative to contact the partners of the surrounding express delivery. However, everything is difficult at the beginning. How many difficulties will deaf people with communication difficulties encounter in delivering express delivery? No one expected it, which led to basically no courier willing to accept it when he went to talk. Later, Gu Zhong finally finalized the cooperation by negotiating and piloting with the head office of the express delivery.

Finding the channel is the first step. At first, everyone’s business was not skilled. On-time delivery and on-time delivery are the most basic requirements of the express delivery industry. Being familiar with every street in the distribution area is also an essential housekeeping skill for every courier. The high-rise buildings, staggered alleys and irregular street signs in Shanghai make Gu Zhong’s couriers confused. Gu Zhong and his team members had to teach them a little bit over and over again. The master with delivery experience would take them everywhere to recognize the building. The couriers drew a map by themselves and then looked at the map on the mobile phone, so that they could remember it firmly.

Recalling the scene at that time, Gu Zhong said that basically everyone has lost one or two pieces every day, and the only way to deal with it is to lose money.

How to deliver the courier to the user? It is the real test for deaf-mute couriers. In order to help them enter the community and open the access control with walkie-talkies, Gu Zhong’s team specially recorded a voice: Hello, I am a deaf delivery staff, and your courier has arrived. But because they can’t hear the sound, these little brothers sometimes don’t know at all, and there is no answer at the end of the recording that has been playing circularly.

When will someone receive the courier at home and where should I put it? A sound person who can figure out these problems can do it with a phone call, but the deaf courier has to send several short messages in succession. When you meet an old man who is inconvenient to type, or a more anxious customer, a phone call will make the courier brother who can’t answer feel at a loss. In order to cope with these situations, Gu Zhong developed the supermarket staff into customer service, and all calls to the courier were directly transferred to the customer service mobile phone. They also established a WeChat working group to connect the needs of couriers and customers as soon as possible.

After three or four months of trying to run in, the daily delivery volume of Wusheng couriers in Hongkou District has basically reached 150 to 300, with equal pay for equal work, which is basically the same as that of health couriers.

Have a platform and an opportunity to open up a new world for deaf friends.

The hot weather in Shanghai has not yet receded. At about 3 pm, Xu Shengliang rode an electric car to the front of a residential building and played a mobile phone voice on the walkie-talkie of the security door: "Hello, I am a deaf delivery staff, and your courier has arrived." After the door opened, he flew all the way up to the sixth floor.

This is the fifth time that Xu Shengliang has climbed the 6th floor to deliver the package today. After running downstairs sweating all over, he said in sign language: "customers are in a hurry to wait for the express delivery. It is inconvenient for us deaf people to communicate with each other, and we want to deliver it to customers as soon as possible."

After being unemployed at home for more than a year, 27-year-old Xu Shengliang, like other 39 deaf brothers, has a new identity — — "My voice courier". According to the calculation of one yuan per order, he can now earn eight or nine thousand yuan a month. Because of his good reaction and communication skills, he is Gu Zhong’s "right-hand man" and was recently promoted to group leader.

Although the express delivery business of Gu Zhong’s team is now on the right track, the complaint mode of the express delivery company has also caused them to stumble in the earlier "painful period". "Even if a phone call to a courier company is a complaint, a complaint will be punished by 60 yuan, which will make them unwilling to do it and their mentality will collapse." Gu Zhong said.

It is already night, and Gu Zhong is still patiently teaching the courier buddy in sign language in the courier warehouse. How to contact, how to deliver, and what to do if the customer refuses to put it in the courier cabinet … … Everything is covered. At present, how to further reduce the complaint rate is a difficult problem that Gu Zhong focuses on. At the beginning of September, Gu Zhong contracted an online shop alone in Putuo District, and all of them recruited hearing-impaired couriers. Different from the previous cooperation with the existing express outlets, this time, he not only contracted the company to evaluate, reward and punish the outlets, but also invested 700,000 to 800,000 yuan to buy equipment and express vehicles, and also added benefits such as accommodation and dinner to employees. "We also provide five insurances and one gold for the courier, in addition to employer liability insurance and tripartite liability insurance, which can compensate up to 100,000 yuan." Gu Zhong said.

In addition to the protection of wages and rights and interests, this hard but fulfilling job is of far more significance to deaf-mute couriers. Their self-confidence has increased, their sad faces have gradually been replaced by smiles, and more and more people are willing to call on their deaf-mute friends to come and work together. In Gu Zhong’s view, these changes of friends have made him more satisfied.

Born in a deaf-mute family, he wants to bring hope to more children from disabled families.

Because both parents are deaf-mute, Gu Zhong can play authentic "Shanghainese" sign language since childhood. Now, in addition to busy with the work of express outlets, Gu Zhong will spare one or two days a week to insist on doing news sign language broadcasting on TV stations. He hopes that through his own efforts, disabled friends will have the right to know social information in time.

Talking about the original intention of planning this project, Gu Zhong admitted that he did have a little "selfishness": I knew from an early age that children in our family especially needed financial support in their studies, but many families with disabilities could not do so, which led to many children from disabled families going astray. I don’t want them to go my way. It’s very difficult since they were young, and they eat subsidies and subsistence allowances.

At present, "Wusheng Express" is docking with special schools in many places, and plans to recruit deaf-mute people from poverty-stricken areas to work. It is estimated that the team size will reach 300 by the end of the year, and more people will shine here like Xu Shengliang.

"At first, I saw the courier and he gave me a sign language. I didn’t understand it either. I gave him a thumb and he was very happy." An old man smiled and told his first experience of meeting a deaf-mute courier brother. With more and more understanding and appreciation, although the people who are helped can’t say "thank you" to themselves personally, Gu Zhong feels that everything is worth it when he sees many deaf-mute friends running on the road to a better life. (Text/Wang Ruoyi Proofreading/Jiang Cheng)

　　Sino-Singapore Jingwei client November 8 (Zhao Jiaran) The "double 11" war has started ahead of schedule. Next week, besides preparing enough "chop hands" budget, there are also these heavy financial events that may affect your "wallet". Let’s watch it in advance!

　　Data release

　　Next week, China will release the data of M0, M1 and M2 in October, as well as the data of CPI and PPI in October. The United States will release October CPI, PPI, etc., and Germany will release November ZEW economic climate index, October CPI and other data.

　　Market hotspot

　　First, October CPI, PPI, M2 and other data will be released.

　　On November 10th and October, CPI and PPI will be announced. Many institutions expect that CPI is expected to continue to narrow in October. In addition, the data of M0, M1 and M2 in October will be released on November 11th.

　　CICC recently released a research report, predicting that the year-on-year growth rate of CPI will drop from 1.7% in the previous month to around 0.5% in October, and may further decline in November. However, the year-on-year growth rate of non-food prices may be relatively stable, and the year-on-year growth rate of service prices may improve. It is expected that PPI will maintain positive growth in October, and the year-on-year decline will narrow slightly from 2.1% in September to 2%.

　　According to a research report released by soochow securities, the recovery of PPI in China is still strong, and consumption and investment are accelerating. In September, the manufacturing PMI rose by 0.5% month-on-month, and the decline of PPI is expected to narrow in October, and it is expected to close at -2.10% year-on-year. In addition, M2 is expected to close at 10.5% in October.

　　Second, the peak period of "double 11" express delivery is approaching.

　　The State Post Bureau held a special press conference on service guarantee in the peak season of express delivery business. According to reports, the peak season in 2020 ranges from the beginning of November to the eve of the Spring Festival in 2021 (February 12), totaling 103 days. Among them, during the "double 11" period (November 11th to 16th), there will be a peak season, and it is estimated that the daily average express delivery business volume will reach 490 million pieces, which is about twice the daily business volume.

　　According to the State Post Bureau, this year is the 11th peak season for the postal express delivery industry to systematically organize and meet the express delivery business. At present, the enterprise has added 490,000 temporary workers, 100,000 vehicles and 5.39 million square meters of processing space, increased transportation capacity reserves, and added high-speed rail express lines.

　　Third, in the fourth quarter, the voucher-type savings bonds was issued on the 10th.

　　According to the Ministry of Finance, in the fourth quarter, savings bonds will start issuing on October 10th and November 10th respectively, and the electronic savings bonds will be issued on October 10th with a term of 3 years and 5 years, with annual interest payment. On November 10th, savings bonds with certificates was issued, with a term of 3 years and 5 years, and the principal and interest will be repaid in one lump sum.

　　It is reported that the two issues of treasury bonds are issued to individuals at face value, and the sales face value must be an integer multiple of 100 yuan. The two issues of national debt are registered national debt, registered in real-name registration system, which can be reported as loss, but not negotiable. Two issues of treasury bonds may not be redeemed in advance during the issuance period, but may be redeemed in advance after the issuance period. The early redemption business can only be handled through the counter of the business outlets of the members of the underwriting syndicate.

　　Four, the central bank’s open market 320 billion yuan reverse repurchase expires.

　　Wind data shows that there will be 320 billion yuan of reverse repurchase due in the central bank’s open market next week (November 7 to November 13), including 50 billion yuan, 120 billion yuan, 120 billion yuan, 30 billion yuan and 0 yuan from Monday to Friday respectively, and there are no repurchase and central bank bills due.

　　Stock market outlook

　　I. Opportunities for new shares

　　Wind data shows that next week, two new shares will be listed first, and eight new shares will be purchased online.

　　On November 9th (Monday), N Wantong (stock code 830839.OC) and N Haosen (stock code 688529.SH) will be listed soon. Among them, N Wantong is a professional equipment manufacturer dedicated to the design, development and manufacture of hydraulic machinery products; N Hausen specializes in intelligent equipment, assembly technology and comprehensive solutions for complete sets of customized products.

　　On November 9th, three other companies subscribed, namely Dezhong (stock code: 838030.OC), Kangping Technology (stock code: 300907.SZ) and Huichuangda (stock code: 300909.SZ).

　　On November 10th, Northland (stock code: 430047.OC) will make a subscription.

　　On November 11th, three new shares were subscribed, namely Zhongjing Food (stock code: 300908.SZ), Mingxin Xuteng (stock code: 605068.SH) and Zhongkong Technology (stock code: 688777.SH).

　　On November 12th, Cube Pharmaceutical (stock code: 003020.SZ) will make a subscription.

　　Second, institutions look at the market

　　Gf securities: how to grasp the "production expansion" cycle of export chain?

　　A shares exclude the profit growth rate of the third quarterly report of finance -5.92% (the profit growth rate of the interim report is -25.04%). Non-financial A-shares recorded the highest Q3 quarter-on-quarter growth rate since 2003, and we revised the A-share profit forecast for the whole year. Under the assumption that the epidemic will not affect the large-scale asset impairment, it is predicted that the annual non-financial net profit growth rate of A shares will increase to double digits.

　　On the whole, in the past 20 years, the "three-table repair"+production capacity has been cleared, but the medium and long-term economic growth expectations are weak, and the enterprise’s "expansion of production" is all ready, and it still lacks the east wind; Structurally, the epidemic has reshaped the global industrial chain, and China’s export chain boom is expected to continue to improve, which is expected to start a new round of "production expansion" cycle.

　　Huajin Securities: The total amount of funds has shrunk slightly, and some pro-cyclical sectors have been added.

　　Looking ahead, it is possible that the total amount of A-share funds will tend to be stable; The total amount of new shares issued in October decreased compared with the previous month. At the same time, the rate of reduction of industrial capital in October also declined, which is expected to reduce the contraction pressure of A-share funds. However, it is worth noting that Public Offering of Fund’s positions, especially those of partial-share funds, are still at a relatively high level, and may face some pressure of position contraction in the future. It is necessary to continuously observe whether the incremental funds brought by fund issuance can cover possible fund position fluctuations.

　　The change trend of capital preference from the third quarter to the present: short-term funds turn to pro-cyclical and optional, while medium-and long-term funds pay more attention to pro-cyclical, and the intention of holding positions within technology consumption is divided.

　　Southwest Securities: New Kinetic Energy of Digital Economy Growth in 2021

　　Thoughts on stock selection in overseas industries With the Internet industry entering the second half, the competing growth among giants and the need to expand their ecology, this paper puts forward some differentiated views, such as paying attention to the ecological opening dividend of giant private domain traffic, paying attention to the cognitive gap of Internet enterprises in China, and paying attention to the overseas dimensionality reduction output of Internet models.

　　Looking forward to 2021, we will continue to pay attention to China’s Internet enterprises and spillover industries, with high-quality growth at home and new expansion overseas. With the decline of uncertainty of domestic epidemic situation, the consumer Internet field focuses on the habit solidification of epidemic situation, while the industrial Internet field focuses on value creation and C-side integration. With the uncertainty of overseas epidemic situation, we will continue to pay attention to the behavior solidification of the "home economy" industry overseas and the low-dimensional penetration of the domestic Internet model. It mainly focuses on three growth points: traffic production and precise directional distribution, data production factors and industrialization, and diplomatic geographical advantage dividend. (Zhongxin Jingwei APP)

In the past few years, the production pattern of renewable diesel in the United States has undergone tremendous changes, similar to the growth of ethanol and biodiesel in the past two decades. Driven by federal and state emission reduction policies, the substantial increase of renewable diesel production and capacity in the United States is causing a major market-changing change in domestic and foreign raw material trade. Like biodiesel, renewable diesel is produced from the same renewable raw materials, such as vegetable oil, animal fat or waste cooking oil (UCO). The difference is that renewable diesel oil is produced by hydrogen treatment, which makes its chemical properties the same as petroleum diesel oil, so it can be mixed at a higher level and transported by existing pipelines. Therefore, the United States is rapidly expanding the import of animal fat and vegetable oil, which are not only used as raw materials for renewable diesel production, but also supplement other raw materials that have been transferred to renewable diesel production, such as soybean oil. At home, the US soybean crushing capacity has expanded to produce more soybean oil, because of the high price of soybean oil and strong crushing profit margin. Despite the increase in domestic demand, the export volume of American soybeans declined due to the increase in Brazil’s supply and the slowdown in global import demand. In addition, the premium of soybean oil in the United States soared far higher than the global vegetable oil price, which led to a sharp drop in US exports, and the United States became a net importer of soybean oil for the first time in 2023. The increase in soybean crushing has a negative impact on soybean meal exports, because the abundant supply of soybean meal, coupled with the drought in Argentina, the world’s largest soybean meal exporter, has promoted exports and is expected to continue to grow.Although many uncertainties may affect the market of biofuels, animal fats and oilseeds in the United States, the output of renewable diesel oil is expected to continue to grow and change the raw material market. However, the output growth rate will be highly dependent on federal and state policies, raw material supply and the continuous growth of soybean meal exports in the United States.

　　BEIJING, Feb. 21 (Chen Caixia)-In the early morning of the 20th local time, US President Biden left Andrews Air Force Base for Ukraine on the presidential plane "Air Force One", and then met with Ukrainian President Zelensky in Kiev.

　　This is Biden’s first visit to Ukraine since the escalation of the Ukrainian crisis nearly a year ago. After the "lightning visit", Biden quickly left Ukraine. Although he only stayed there for less than a day, Biden’s trip undoubtedly revealed a lot of important information … …

　　A secret trip started at night

　　According to CNN, Biden’s public schedule did not reflect this trip. The visit was conducted in secret, and reporters on the accompanying plane were not allowed to carry shooting equipment. According to the report, the difference between this trip and the past is because "Ukraine is an active war zone and the US military can’t control it, which makes the visit on the 20 th different from the previous presidential visit to Iraq or Afghanistan."

　　Before Biden’s visit, many streets in the center of Kiev have been blocked by the police, and the security work of the Ukrainian military can be said to be extremely strict.

　　Biden arrived in Kiev at 8: 00 am local time on the 20th, and was greeted by Bridget Brink, the US ambassador to Ukraine. About half an hour later, Biden’s motorcade arrived at Mariinsky Palace to meet with Zelensky and his wife.

　　"Thank you for coming!" Zelensky said, holding Biden’s hand. Biden also asked, "More importantly, how are the children?" He also added, "Nice to meet you."

　　Later, Biden and Zelensky visited a church in Kiev together. At that time, an air defense alarm sounded in Kiev. As the alarm sounded, the two quickly left the scene.

　　According to the report, Biden’s entourage was few, including US National Security Adviser jack sullivan, White House Deputy Chief of Staff Jan o’malley Tommy Tam and Oval Office Operations Director Anne tomasini.

　　Biden visited Ukraine six times when he was vice president of the United States. Biden’s last visit to Ukraine before he became president was in January 2017. Before the "Lightning" visit in 2023, Biden was still the highest-ranking official of the US government who visited Ukraine. Because neither former US President Trump nor former Vice President Pence has visited Ukraine.

　　Biden announces important decisions: aid and sanctions

　　After his unexpected appearance in Ukraine, Biden said that the purpose of his visit was to reaffirm the "unswerving" support of the United States to Ukraine, and announced 500 million dollars worth of additional aid and a series of new sanctions against Russia on the same day.

　　According to the statement of the White House on the same day, the United States will provide Ukraine with more weapons and equipment such as "Haima" multi-barrel rocket shells, anti-tank systems and air surveillance radars. The specific details will be officially announced to the outside world on the 21st. In addition, during the meeting, Zelensky and Biden also discussed the supply of long-range weapons and "weapons and equipment that have never been provided to Ukraine before".

　　Biden issued a statement saying, "On the eve of the first anniversary of the Ukrainian crisis, I met with President Zelensky in Kiev today and reiterated our firm commitment to Ukraine’s democracy, sovereignty and territorial integrity."

　　Zelensky said at the press conference after the talks that Biden’s visit to Kiev will help Ukraine "get closer to victory" in this crisis and can and should ensure that this year, that is, 2023, will be a year of victory.

　　"The United States provides M1‘ Abrams ’ The decision of the tank laid a foundation for the establishment of the tank alliance, which is of historical significance, "Zelensky said. "This is a clear signal that (Russia) has no chance to win."

　　However, according to Agence France-Presse, the accompanying US national security adviser Sullivan said that Biden had sent a reminder to Moscow "a few hours" before his visit to Kiev.

　　"We did inform the Russians that President Biden will go to Kiev. We informed Russia a few hours before the visit to avoid any conflict, "Sullivan said in an interview. "Because of the sensitivity of this information, I can’t deeply understand the reaction of (Russia) or the exact nature of our information."

　　"This surprise visit is only a symbolic gesture."

　　After a hasty meeting with Zelensky, Biden left Kiev.

　　Sputnik news agency & radio reported that Vladimir Baczuk, director of the Center for American Regional Military Policy of the Institute of American and Canadian Studies of the Russian Academy of Sciences, said that Biden’s visit to Kiev was only a symbolic gesture, which meant that the United States would further support Ukraine.

　　Baczuk said, "Biden may not take a tank or a plane with him as a gift. This is purely a symbolic gesture. The United States will always support Ukraine, and this route will not change. "

　　Baczuk also said, "There will be no more Russian-American relations, so it is impossible to have any impact."

　　"I don’t think Russians will be surprised," Tatiana Stanovaya, founder of Russian political analysis company r.politik, told the British newspaper The Guardian. "For them, this will be another evidence that Washington has clearly chosen its camp … … This proves the complete separation between the West and Russia. "

　　On the 21st, Russian President Vladimir Putin will deliver a State of the Union address, analyzing that Biden’s visit to Kiev at this time may further escalate the situation in Russia and Ukraine. "I expect that Putin may take an extremely tough attitude towards the West in his annual State of the Union address tomorrow," Stanova said.

　　Japan suddenly announced a "big hand"

　　Kyodo News reported on the 20th that Japanese Prime Minister kishida fumio announced at an international forum in Tokyo that he would provide Ukraine with 5.5 billion US dollars (about 737 billion yen) in new aid.

　　However, according to data from the Kiel Institute for World Economics in Germany, from January to November 2022, including the military, financial and humanitarian fields, Japan’s support to Ukraine amounted to 600 million euros, the least among G7 countries. This time, people around Kishida explained the additional support fee: "This is a scale that is not ashamed compared with other countries."

　　According to a report by Japanese TBS TV on the 20th, kishida fumio also said that the leaders of the Group of Seven will hold an online video conference on February 24th, and Zelensky will also participate. (End)

With the continuous efforts of major domestic automobile brands, there are more and more scooters with a price of 100,000 yuan. Baojun has launched a new car, Yueye Plus, with a price of 9.38-103,800 yuan. At the same time, Baojun will launch two other new cars this year, and Yueye 2024 will also be listed simultaneously. As a heavy product of Baojun brand, Yueye Plus has shown great sincerity, and after its listing, a new round of controversy has also been drawn, that is, compared with the old faces at this price: Chery iCar03, can it have a chance of winning?

In fact, you can find that these cars all have the same feature, that is, high face value. However, their images are also different. Yueye Plus is a hard-line route, with square box shape and unique details. It looks very retro and domineering, with a unique sense of sight of off-road SUVs. Chery iCar03 is also a square box shape, but it is too avant-garde; Meta-UP is a family-style design, or a traditional rounded treatment. Personally, I think Yue Plus is more suitable for most people’s aesthetics.

In addition to the face value, everyone chooses this level of effect, and there are also requirements for space. Yueye Plus adopts pure electric platform design, and the passenger compartment space reaches 2682 mm. At the same time, it is optimized for the head and leg space of the whole vehicle, and the maximum head space of the front and rear rows is 1043mm and 1061mm； respectively. At the same time, Yueye Plus has a front legroom of 913mm and a rear legroom of 870 mm. Whether children or adults are in the front or rear row, they can get spacious seating space, which shows that Yueye Plus has no problem at home.

As a product with the same price, although compared with Chery iCar03 and YuanUP, Yueye Plus has not opened UP too obvious differences, it can bring relatively better space performance when it is full or when there are taller passengers traveling, which is still worth looking forward to.

In addition, it is worth mentioning that, unlike the plastic-coated materials mainly used in Chery iCar03 and YuanUP cars, the soft materials in Yueye Plus cars cover an area of 2.24㎡, and the places that you can basically touch, including handrails, middle panels, seats and other daily high-frequency contact areas, are all soft materials, and feel quite good.

Of course, no matter the face value or ride comfort, we can’t see much difference based on the similar positioning of the three models. What really reflects the gap lies in the fact that Yueye Plus is equipped with the map-free urban pilot-assisted driving function, which does have leading strength.

In everyone’s impression, the urban pilot-assisted driving function is only available on 200,000-300,000 models, but Yueye Plus has been subverted. Its smart driving system can cover urban areas and highways all over the country. At the same time, this system also has the operations of fast route learning, autonomous ramp up and down, active lane change, active overtaking, start and stop of traffic lights, and turn around and turn left and right, which greatly reduces the driving difficulty of car owners.

As for the other two cars, the performance of Chery iCar03 is not bad, and it can realize L2+ driver assistance function, with functions such as automatic on-ramp and automatic parking. Meta UP only supports L2 driver assistance function. However, compared with Yueye Plus, the gap is still obvious.

Therefore, in my opinion, Yueye Plus is not only a more fashionable choice, but also a smarter choice, which is the first choice for 100,000-class scooters. After all, for now, it seems that there are only models that can really achieve urban pilot-assisted driving at a price of more than 100 thousand, so if you want to experience advanced driving assistance at the same price, it is naturally the first choice, what do you think?

# Plus # # The first choice for 100,000 city family cars #

Mazda CX-30 has many bright spots. Today, let’s talk about its performance in power. Come and see it quickly.

Let’s take a look at the appearance of Mazda CX-30. The front face design of Mazda CX-30 takes a clean and refreshing route and looks very young and fashionable. The headlights are very steady and the details are exquisite. The car is equipped with LED daytime running lights, headlight height adjustment, adaptive far and near light, automatic steering, delayed closing and so on. Coming to the side of the car body, the size of the car body is 4395 mm * 1797 mm * 1545 mm. The car adopts cold lines, and the side of the car feels very hard. With large-sized thick-walled tires, the overall visual effect is very unique. In the rear part, the rear looks very simple and fashionable, and the taillights are very round and lovely. Coupled with the unique exhaust pipe, the overall layout is impressive.

Coming into the Mazda CX-30 car, the interior design of Mazda CX-30 took a hard line, and the overall visual effect was very distinctive. The car looks very good outside the steering wheel, made of genuine leather, and feels good. Let’s take a look at the central control. The design of the center console is reasonable, which makes the interior style impressive and looks soft. The interior feels good, let’s look at the dashboard and seats. The car is equipped with a streamlined dashboard and looks very atmospheric. The car uses leather seats, which are equipped with functions such as memory electric adjustment and seat proportion tilting, and the comfort is acceptable.

Mazda CX-30 is matched with an automatic manual transmission (AT) gearbox, with a maximum power of 116KW and a maximum torque of 202N.m, and its power performance is good.

Mazda CX-30 is equipped with car networking, remote control key, rear wiper, engine start and stop, traction control (ASR/TCS, etc.) and other configurations, which is worthy of praise.

The moderate size of the car is a very suitable choice for many families, and the internal space is enough for daily use in families. How to choose depends on your specific needs.

According to CCTV news, on the morning of July 12th, a company named "Fujian Zhuoyue New Energy" in xinluo district, Longyan, Fujian caught fire and smoke billowed from the scene. At present, Longyan local fire brigade Wu and forest fire brigade rushed to the scene for disposal.

According to the introduction of the fire rescue departments in Fujian Province and Longyan City, the fire broke out in the tank farm of Zhuoyue Company’s workshop, with three tanks, mainly storing waste oil, vegetable oil and biodiesel, and there were several large and small tanks around. After preliminary investigation, as of 14: 00, the fire caused two employees in the factory to disappear and two were injured, one of whom was seriously injured.

(Source: CCTV News)

It is reported that Fujian Zhuoyue New Energy was listed in science and technology innovation board on November 21, 2019, and its stock name is Zhuoyue New Energy, which is called "the first share of biodiesel in science and technology innovation board".

According to the data of official website, Longyan Zhuoyue New Energy Co., Ltd. was established in 2001, which is an enterprise specializing in the R&D, production and sales of biodiesel and derivative industrial glycerin by using waste oils such as waste cooking oil and acidified oil.

The 2019 annual report shows that Zhuoyue Xinneng’s total revenue in 2019 reached 1.295 billion yuan, a year-on-year increase of 27.22%; The net profit attributable to shareholders of listed companies was 216 million yuan, a year-on-year increase of 61.25%. According to the company’s relevant research report released by Essence Securities, Zhuoyue Xinneng has a complete industrial chain of biodiesel, and its export volume ranks first in the national industry for many years. In 2019, biodiesel exports reached 187,800 tons, up 23.0% year-on-year, mainly exported to the European Union.

As of July 12, the total market value of Zhuoyue Xinneng was about 6.984 billion yuan, and its share price was 58.2 yuan/share.

　　There are 19 new models of Land Rover Range Rover Executive Edition in our store, which are full in color, complete in formalities, invoiced on the same day, and environmentally friendly. It’s true that there is no middleman to earn the difference, and the maximum discount is 200,000 yuan to send decorative gift packages. For details, please call the contact number at the bottom of the news to discuss in detail.

　　The 2019 Land Rover Range Rover Executive Driver’s Seat is desirable, which not only represents higher enjoyment, but also represents higher status. The cross-connected electronic air suspension system is standard in the whole system, which can easily cope with various vehicle loads and work with the adaptive dynamic system. The material selection of Land Rover Range Rover Chuangshi Extended Edition is its advantage, and the interior style presented is elegant and exquisite, while the optional rear two-seat executive seat brings more perfect ride enjoyment.

　　Range Rover Executive 19 3.0 Gasoline HSE White/Coffee

　　Configuration: 22-inch 5-spoke wheel, Towson central differential lock, panoramic sunroof, 20 electric adjustments (front and rear heating, front and rear ventilation) for main and co-pilot seats, seat memory, perforated small Oxford leather seat, front seat heating and ventilation, rear seat heating, smart card, one-button start, electric suction door, xenon headlight LED light, headlight cleaning, front and rear electric eyes, 5 seats, 385-watt King’s Treasure audio, Second-generation terrain feedback, 360-degree loop image, head-up display, automatic parking, heated steering wheel, shadow walnut interior, loop shadow, mahogany steering wheel, power supply 110V, air filtration.

　　The 19 Land Rover Range Rover Executive 3.0 gasoline HSE vehicles are simple, stylish and tough, and they are a large SUV. Its front face looks more square and tough. The front face has a fierce metallic texture with three banners, flat and oblique headlights and marked shark gills. The rectangular honeycomb grille is a Range Rover, which looks very noble. The side lines of the car body are simple and powerful. The newly added L-shaped LED daytime running lights add more fashion to the car. The car light system has also been changed, equipped with new LED daytime running lights, and adopted a new headlight design and a larger fog lamp base.

　　Power: 19 Land Rover Range Rover Executive 3.0T American Standard Edition, with body size of 4999*1983*1867mm, 3.0L.V6 supercharged engine, 380 HP, maximum power of 250kW/6500rpm, maximum torque of 3500-5000rpm, matching with 8-speed automatic manual transmission and full-time four-wheel drive. The 19 models combine outstanding stability and exquisite design, the front and rear suspension are air suspension, and with the second generation terrain feedback system, they are excellent in off-road performance.

　　In addition to the more handsome administrative appearance of the 19 Range Rover models, what is more appreciated is the interior, which perfectly combines the sense of luxury and technology. The three LCD screens around the driver’s body really don’t feel the sense of technology without really sitting on it, and it is also a dual-screen linkage touch, which makes the operation simpler and more convenient. It is indeed a Mercedes-Benz GLS-class interior that has not changed for a long time. The grille of Land Rover Range Rover Executive Edition adopts hollow design, which is more luxurious than the original thick horizontal bar. The side lines are tough and powerful, without any bending and transition, but as a whole, there is no stiff feeling.

　　There is basically no change in the back row of the 2019 Land Rover Range Rover Executive, and there is no problem in taking four adults at the same time. The seat of the whole vehicle is wrapped in top-grade leather, but instead of using high-grade Oxford perforated leather like the old one, it is replaced by perforated Windsor leather. With the new seat style, the whole interior will bring you a brand-new feeling, and the filler is also sufficient. Therefore, the seat is very comfortable and supportive.

　　The powerful functions of the 19 Land Rover Range Rover executive cars are not reflected in many buttons. The 8-inch high-resolution LCD screen provides an outstanding integration scheme. As for the audio output, you can choose to listen to it with 29 speakers or Bluetooth headphones brought by the original factory. The top of the console and the steering wheel are wrapped in Oxford leather, which is unparalleled in both visual effect and texture. Dual-screen technology of central display allows drivers and passengers to watch different screens at the same time.

　　19 Land Rover Range Rover Executive 3.0 gasoline HSE not only has powerful power, but also greatly improves engine efficiency and fuel economy, and achieves lower carbon dioxide emission. The new car adopts a very dazzling hidden rotary shift lever. After the engine is started, the shift knob can be raised automatically. Although the weight of the car body can still stretch the air suspension of the front axle for a long time during acceleration, it can reach 100 km/h with almost no extra feeling except the sound and push-back feeling of the engine. It seems that the British gentleman.

　　Main products: imported Audi, imported BMW, imported Toyota, imported Land Rover, imported Nissan, imported Ford, imported Mercedes.

　　Sales Tel: 13821408578 (WeChat synchronization)