[car home Information] In February, various car companies have made every effort to hit sales and achieve new goals for the whole year. Now that the results of the auto market exam in February have been released, what is the performance of major auto companies? In this issue of the Sales Express, let us announce the transcripts of major car companies together.

　　As of the publication of this article, seven China car companies/brands, three overseas brands and six new car-making forces have announced their sales volume in February. The following are the specific sales data of each car company/brand:

● China car companies/brands.

　　A total of 8 car companies/brands in China announced their sales in February, including BYD, Chery Group and Lantu Automobile. Among them, the sales volume of new cars in Ai ‘an in February was 30,086 units, up 253% year-on-year and 195% quarter-on-quarter. At the same time, the brand sold 40,292 vehicles in January and February, up 64% year-on-year.

● Geely brand

　　　The total sales volume of Geely Automobile in February was 108,701 vehicles, up about 39% year-on-year, among which the sales volume of pure electric vehicles reached 21,289 vehicles, up 74% year-on-year.

　　Subdivided into its brands, Geely brand sold 90,333 vehicles (including geometry); The brand sold 12,090 vehicles; Extreme krypton sold 5,455 vehicles, a year-on-year increase. Ruilan Automobile sold 823 vehicles, a year-on-year decline. Subdivided into power, pure electric vehicles sold 21,289 vehicles, a year-on-year increase of 74%.

　　At the beginning of the year, Yan Jiayu, CEO of Geely Automobile Group, said in his message in the Spring Festival that in 2023, Geely Automobile Group’s total sales target of 1.65 million vehicles should achieve three times of growth in new energy products: the overall sales of new energy should double, exceeding 600,000 vehicles; Raytheon hybrid sales doubled; Krypton sales doubled.

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● Chery group

　　On March 6th, Chery Holding Group released the monthly sales report: In February, the group sold 103,877 vehicles, up 71.9% year-on-year and 2.5% quarter-on-quarter, and sold more than 100,000 vehicles in a single month for nine consecutive months. From January to February, Chery Group sold a total of 205,256 vehicles, up 39.2% year-on-year.

　　In terms of brands, the year-on-year growth rate of all brands of Chery Group exceeded 50% in February. Among them, the sales volume of Chery brand was 74,739, a year-on-year increase of 68.3%; The sales volume of Xingtu brand was 5,056 vehicles, a year-on-year increase of 61.7%; Jietu brand sold 16,432 vehicles, a year-on-year increase of 145.3%. Hua Dan products (|), Tiggo 7 and Jetway X70 series, which are the main products of the Group, have achieved 14,495, 14,617 and 10,913 vehicles respectively, ranking firmly in the camp of vehicles with monthly sales exceeding 10,000.

　　Based on the opening record of Chery Group, in January, with the overall decline of 35%, Chery Group grew against the trend at a rate of 16.5%. In February, according to the manufacturer’s data, the Association predicted that the retail sales growth rate of passenger cars in a narrow sense was 7.2%, and Chery Group maintained a strong growth trend with an acceleration of almost 10 times the average growth rate of the industry. Chery, Xingtu, Jietu and Chery’s new energy brands jointly announced the policy of "lifetime warranty for all models" on February 1, so that users can reduce their worries about using cars.

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● Changan brand

　　Changan Automobile Group released February sales data. The group sold a total of 191,007 cars, up 38% year-on-year, including 163,156 China brand cars, up 50.1% year-on-year, and 117,622 China brand passenger cars, up 68.2% year-on-year.

　　Specifically, in terms of Changan new energy, China brand new energy sold 20,574 units in February, including Changan deep blue brand and Changan brand new energy vehicles. Changan only announced the sales volume of Lumin models in February, which was 8,137 units.

　　In terms of Changan brand fuel vehicles, the CS family sold 37,660 units in February, of which the CS75 series sold 15,477 units; The car series sold 15,024 units in February; UNI series sold 27,859 units in February, of which UNI-V sold 20,179 units. In terms of Changan Auchan brand, it sold 18,505 units in February; In terms of Changan Kaicheng brand, it sold 17,081 units in February.

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● Aian brand

　　Ai ‘an announced that the sales volume of new cars in February was 30,086 units, up 253% year-on-year and 195% quarter-on-quarter. At the same time, the brand sold 40,292 vehicles in January and February, up 64% year-on-year.

　　According to the tips below the official long picture, on March 3, the brand of Ai ‘an will release a new generation of electric drive technology. At the same time, on March 7, AION Y will launch a new model, which is expected to be adjusted for configuration or appearance/interior details. It is worth mentioning that Ai ‘an expects to raise the official guide price of its related models in early March this year, ranging from 3,000 to 6,000 yuan.

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● Lantu Automobile

　　Lantu Automobile announced the delivery data in February 2023. In February 2023, Lantu delivered 1,107 new cars, and the delivery volume increased by 50% year-on-year.

　　　Lu Fang, CEO of Lantu Automobile, said: "In 2023, the market potential of new energy vehicles in China continued to improve. With a series of measures such as the gradual recovery of Lantu’s production capacity, the return of sales and service system and the upgrading of OTA products, Lantu’s delivery capacity and order quantity in February increased steadily. In the next step, with the listing of Yantu, it will drive the further growth of marketing of Yantu’s whole product system. "

　　　On January 23rd, after Lantu released its brand in Israel, on February 18th, the first batch of Lantu FREE was officially delivered in Israel. After announcing the FREE replacement of the 8155 chip in the standard version of Lantu Free and the free upgrade and fast charging of Lantu Dreamer () in January, Lantu released the version of Lantu FREE OTA 3.0 on February 10th, and carried out 71 optimization upgrades on the car, including 13 new functions and 58 experience optimizations.

　　On February 23rd, Lantu held the 2023 Annual Conference of Eco-Partners in Wuhan. More than 200 eco-partners and investors from all over the country attended. By February 28th, 2023, Lantu had opened 190 stores nationwide, including 146 Lantu Space, 2 Lantu Flagship Stores and 42 Lantu Delivery Service Centers.

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● Changan Deep Blue

　　In February 2023, the delivery of Changan Deep Blue SL03 reached 4,103 vehicles, and the current cumulative delivery reached 37,328 vehicles.

　　In February, the pure electric 705km version of Changan Deep Blue SL03 was delivered. In addition, Changan Deep Blue SL03 was upgraded to OTA again. However, the new functions and optimization experience of the version 1.1 of Deep Al OS include intelligent cockpit, intelligent driving, intelligent vehicle control and other fields. The main upgrades include the addition of Netease cloud music, support for the exclusive driving mode of "thousands of people and thousands of faces" and 540 transparent chassis functions. This OTA will upgrade the 515 pure electric version and 1200 extended range version of Changan Deep Blue SL03 first, and the 705 pure electric version will be upgraded later.

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● Extreme krypton

　　Extreme Krypton Intelligent Technology announced the latest delivery volume: Extreme Krypton brand delivered 5,455 units in February, up 87.1% year-on-year and 75.1% quarter-on-quarter. Among them, Krypton 001 delivered 2539 sets and Krypton 009 delivered 2916 sets. Up to now, Krypton has delivered a total of 86,519 units.　

　　　The extremely krypton 009 was delivered in January 2023, with an average order amount of 527,000 yuan. The newly upgraded 2023 extremely krypton 001 was delivered this month, and a number of luxury configurations were standard in all departments, and the product strength was improved. The average order amount exceeded 336,000 yuan. Extreme krypton X was officially named on February 3, and it is worth looking forward to next.

　　　In February, Krypton completed $750 million in Series A financing, with a post-investment valuation of $13 billion. This A round of financing is a strategic investment based on the perspective of industrial integration, focusing on industrial resource cooperation and long-term layout. At the same time, Krypton, as a global technology enterprise, will promote the European strategy and enter the European market this year, relying on the forward-looking global layout and industrial accumulation of Geely Holding Group.

　　　As of March 1, 2023, there were more than 270 stores nationwide, covering nearly 70 major cities. As of March 1st, the national self-built charging network of Krypton Energy has exceeded 630+ stations in 118 cities, covering more than 95% of the cities where Krypton car owners are located. At the same time, the third-party high-quality charging resources accessed by the APP charging map have covered 344 cities nationwide, and nearly 430,000 public charging guns can be used for scanning codes, covering more than 3,000 high-speed service area sites nationwide.

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● BYD

　　BYD announced February sales data, with a total sales of 193,655 new cars, up 112.6% year-on-year. Among them, the sales volume of passenger cars was 191,664, including 15,002 vehicles exported, up 112.3% year-on-year.

　　Among them, DM models sold a total of 101,025 vehicles, including DM-i and DM-P models, and EV models sold 90,639 vehicles. At present, BYD’s cumulative sales of new energy vehicles exceeded 3.7 million vehicles.

　　Specific to the breakdown of cars, BYD Dynasty and Ocean Cars sold 184,338 cars in February, an increase of 28.3% from the previous month. Tengshi brand sold 7,325 vehicles in February, an increase of 13.8% from the previous month. In February, 15,002 passenger cars were exported, up 44.1% from the previous month.

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● Joint venture car companies/overseas brands

　　At present, only some joint venture car companies/overseas brands have released their February sales data, mostly Japanese brands. Among them, the cumulative sales volume of GAC Toyota in February was 67,029 vehicles, a year-on-year increase of 26.2%, which set a new sales record in February.

● GAC Toyota

　　GAC Toyota released February sales data, with a cumulative sales volume of 67,029 vehicles in February, up 26.2% year-on-year, setting a new sales record in February. Among them, the sales volume of dual-engine models reached 21,075, accounting for 31.4%; More than 300,000 twin-engine models sold 8,942 vehicles. In addition, the sales of the eighth generation Camry also exceeded 1 million.

　　At the same time, the official also said that the first new car of the fifth-generation intelligent electric hybrid twin-engine will debut at the end of March, and we speculate that it may be the new Lei Ling. It is reported that the fifth-generation THS II dual-engine hybrid three-electric system can further improve the electrification efficiency by lightening and miniaturization and reducing losses. Among them, the newly developed lithium battery system has achieved 34% miniaturization and 44% lightweight, and the power output has increased by 8%; The energy loss of high-speed motor is reduced by 19% and the output power is increased by 32%. The power control unit has improved the power density and reduced the weight by 17%, reduced the energy loss by about 10% and increased the current output by more than 8%.

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● Honda China

　　Honda China released the domestic terminal car sales in February 2023. In February 2023, the cumulative sales volume of Honda’s terminal cars in China was 74,142 vehicles, which was 69.9% over the same period (down 30.1% year-on-year); In January and February of 2023, the cumulative sales volume of Honda’s terminal cars in China was 138,332 vehicles, which was 54.8% over the same period (down 45.2% year-on-year).

　　Among them, Guangqi Honda Automobile Co., Ltd. sold 35,829 vehicles in February; Guangqi Honda Automobile Co., Ltd. sold 76,113 terminal cars in January and February 2023.

　　The cumulative terminal sales of Dongfeng Honda Automobile Co., Ltd. in February was 38,313 vehicles; Dongfeng Honda Automobile Co., Ltd. sold 62,219 terminal cars in January and February 2023.

　　In addition, the cumulative terminal sales of Honda’s electrified models in January and February 2023 were 27,351. Honda’s electric vehicles include those equipped with Honda’s high-efficiency dual-motor hybrid system, plug-in hybrid system and pure electric vehicles.

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● Nissan

　　Nissan Motor Company announced the performance of China in February 2023. Nissan Motor Co., Ltd. sold 59,997 units in China in February, up 26.3% from the previous month. After three years of epidemic prevention and control, chip shortage and rising raw material prices, sales are gradually returning to normal.

　　In February 2023, Dongfeng Nissan (including Nissan, Qichen and British finidi brands) sold 56,726 units, up 24.3% from the previous month. Among them, the sales volume of Nissan brand was 50,093 units, an increase of 23.5% from the previous month; The sales volume of Qichen brand was 6,003 units, an increase of 30.3% from the previous month. Zhengzhou’s daily sales volume was 3,271 units, an increase of 72.3% from the previous month.

　　Mr. Shohei Yamazaki, Senior Vice President of Nissan Motor Company, Chairman of Nissan China Management Committee and President of Dongfeng Motor Co., Ltd. said: "2023 is an extremely important year. The company will continue to accelerate the development of electric drive strategy led by pure electric vehicles and e-POWER technology, while continuously strengthening brand, products, services, operations and market competitiveness. "

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●　smart

　　Smart announced the delivery in February 2023. Among them, smart Wizard #1 delivered 3616 units in China; Since the delivery started on September 23rd, 2022, smart has delivered 15,998 units in China. It is worth mentioning that the smart Elf #1 Pro model equipped with a 49kWh lithium iron phosphate battery was pre-sold, with a pre-sale price of 179,000 yuan. As a new entry-level model, it is mainly equipped with a 49kWh lithium iron phosphate battery pack, and the CLTC cruising range is 400 kilometers. It is worth noting that the new car will be listed in the middle and late March, and it is expected to announce more rights and delivery time.

　　The new model retains the configuration of the Pro+ version, and will provide five body colors, with two interior styles of lightning gray and deep space black. In terms of power, the new car is still equipped with a 200kW rear single motor, but the battery is changed to a 49kWh lithium iron phosphate battery pack, and the pure electric cruising range is 400 kilometers under CLTC working conditions.

　　In addition, following the landing of the world’s first smart flagship center in Chengdu, the smart Hangzhou West Lake flagship center officially opened on the bank of the West Lake on February 25th. Smart flagship centers with different styles and themes will soon be launched in Guangzhou, Shanghai, Shenzhen and Beijing. At the same time, the smart production and delivery team is working together to shorten the product delivery cycle.

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● Volvo

　　Volvo officially announced its domestic sales in February, totaling 13,016 vehicles, up 50.4% year-on-year and 10.8% quarter-on-quarter.

　　Specific to the models, Volvo XC90 sold a total of 1,597 vehicles in February, up 108% year-on-year; Volvo S90 sold a total of 2,893 vehicles, a year-on-year increase of 74%; Volvo XC60 sold a total of 4,973 vehicles, a year-on-year increase of 61%. Volvo Car’s electrified products also performed well. In February, the sales of new energy vehicles increased by 64% year-on-year, among which pure electric vehicles increased by 181% year-on-year. From January to February this year, the cumulative sales volume of Volvo Cars in Chinese mainland market has reached 24,758 vehicles, up 6.6% year-on-year.

　　At the same time, according to the official, Volvo Car Asia-Pacific Software Integration Center has been completed and put into use in Shanghai recently, thus accelerating the software development and update of the next-generation brand-new native pure electric platform. It is worth mentioning that at present, all new cars of Volvo brand can realize the online remote upgrade (OTA) function, providing users with a more personalized and intelligent car experience.

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● New forces for building cars

　　The speed at which the new car-making forces publish their report cards has been very positive. Judging from the data released at present, LI delivered over 10,000 vehicles in a single month, reaching 16,620 vehicles, followed by Weilai, Nezha and Tucki.

● Ideal

　　LI released the delivery data in February 2023, and LI delivered a total of 16,620 new cars in February, up 97.5% year-on-year. Since the delivery, the cumulative delivery volume in LI has reached 289,095 vehicles.

　　Li Xiang, Chairman and CEO of LI, said that since the delivery, Ideal L9 has continued to lead in market segments, ranking first in sales of large SUVs in China for five consecutive months. On February 8th, Ideal L7 was officially released, and the first batch of users will be delivered in early March. At the same time, the ideal L8 adds an Air version, and the starting price is lowered to further increase the product strength.

"Ideal L9"

"Ideal L8"

"Ideal L7"

　　By February 28th, 2023, LI had 298 retail centers in China, covering 122 cities. There are 317 after-sales maintenance centers and authorized car body panel spraying centers, covering 223 cities.

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● Zero run car

　　Zero-run cars released the delivery data in February, and a total of 3,198 new cars were delivered in February, an increase of 181% from the previous month, and the cumulative delivery reached 168,340.

　　Just today, a number of new cars of zero-run cars were officially launched, including the newly-launched C11 extended-range version of zero-run cars, as well as new models of various current models. Among them, the zero-run C11 extended-range version has launched three models, and the price range is 149.8-185.8 million yuan; There are four models in the 2023 C11 pure electric version, the price range is 155,800-219,800 yuan; In 2023, the zero-run C01 launched five models, and the price was 1498-228,800 yuan. In addition, the new zero-run T03 has launched four models, with the price range of 59,900-89,900 yuan.

"Zero Run C11 Extended Range Edition"

"Zero run C01』"

"Zero Run T03』"

　　Specifically, the zero-run C11 extended range version is equipped with a 1.2T engine as a range extender, and its maximum power is 96kW. The rated power of the motor is 85kW, the peak power is 200kW, and the pure electric cruising range can reach 285km. New Zero Run T03: 2 new exterior colors and 3 new interior colors are added; The new zero-run C11 pure electric version: the vehicle configuration is simplified, and the battery life is adjusted to three versions of 500km, 650km and 580km, and the price is lowered; The new zero-run C01: The vehicle configuration is fine-tuned, and the entry price is reduced by 44,000 yuan.

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● Weilai

　　In February 2023, Weilai delivered 12,157 new cars, up 42.9% from the previous month and 98.3% from the same period last year. Among them, 5,037 pure electric SUV models and 7,120 pure electric cars were delivered.

　　According to official data, in January and February of 2023, Weilai delivered a total of 20,663 new cars, a year-on-year increase of 30.9%. Weilai has delivered 310,219 new cars.

　　On March 1st, Weilai released the fourth quarter and annual financial report of 2022. Weilai’s revenue in the fourth quarter was 16.06 billion yuan, up 62.2% year-on-year, with positive growth for 11 consecutive quarters. The total revenue for the whole year reached 49.27 billion yuan, all of which were record highs. R&D expenditure in the fourth quarter was 3.98 billion yuan, and the total R&D expenditure for the whole year was 10.84 billion yuan. The cash reserve is 45.5 billion yuan. In 2023, the Q1 delivery guideline is 31,000-33,000 units, and the revenue guideline is 10.62 billion-11.54 billion yuan.

　　In addition, in order to continuously improve the car experience of users and friends, Weilai decided to add 1,000 power stations in 2023. Among them, about 400 are high-speed power exchange stations, which will speed up the layout of high-speed power exchange networks in 9 vertical, 9 horizontal and 19 urban agglomerations; About 600 are urban power stations.

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● Tucki

　　Xpeng Motors announced the delivery results in February. In February, Xpeng Motors delivered a total of 6,010 units, up 15% from the previous month. At present, there are four models on sale in Tucki, including Tucki G3, Tucki G9, Tucki P5 and Tucki P7.

　　On January 6th this year, after Tesla announced a price reduction of 20,000-48,000 yuan, Xpeng Motors was one of the few car companies to follow up the price reduction. Except for G9, the prices of three models on sale were all reduced by 20,000-36,000 yuan. Judging from the actual sales data, the effect of price reduction is effective, but it is not obvious.

"Tucki G3"

"Tucki G9"

"Tucki P5"

"Tucki p7"

　　In February, Tucki opened two stores in Denmark and the Netherlands, and the first European service center in Le Ronnskog, Norway, was also opened and put into use. At the same time, since March, the urban NGP function will be put on various models in Shenzhen, Shanghai and other cities.

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● AITO brand

　　A few days ago, AITO brand announced the delivery data in February, and the delivery volume of the series reached 3,505 vehicles, down 21.68% from the previous month, and the cumulative delivery exceeded 84,000 vehicles.

　　On January 6th, after Tesla announced a price reduction of 20,000-48,000 yuan, the AITO brand also followed suit with a price reduction of 28,800-30,000 yuan. The price reduction models include the Wujie M5 EV and the Wenjie M7. However, from the sales data, the price reduction has not substantially promoted the sales volume. Tesla’s price reduction may have a certain impact on the sales volume of the series. At the same time, in February, due to the Spring Festival, consumption did not fully recover, which also restricted the recovery of sales volume.

　　As for the recent product upgrade, since February 24th, Huawei’s HarmonyOS cockpit equipped with AITO’s M7 has been upgraded, and new functions such as smart car search and calendar have been launched. Next, all departments in the world will also upgrade HarmonyOS 3.0 in March.

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● Nezha Auto

　　On March 2nd, Nezha Automobile announced its sales results in February 2023. Specifically, Nezha delivered 10,073 vehicles, a year-on-year increase of 41.5%.

　　Specifically, Nezha V delivered 5,013 units, Nezha U delivered 3,012 units, and Nezha S delivered 2,048 units, up 35% from the previous month. By February, 2023, Nezha had delivered a total of 264,138 vehicles. According to the official, Nezha’s S capacity expansion will accelerate the delivery. At the same time, the intelligent assisted driving system will be upgraded through OTA in the near future, and the owner can also wait for the official follow-up push.

　　In February, Nezha Automobile won the EU E13 UNR155 CSMS (Cyber Security Management System) vehicle network security management system certificate issued by TUV Nande, which is the first R155 CSMS certificate issued by E13 in the world, indicating that Nezha Automobile has the industry-leading vehicle network security management capability, and at the same time empowering Nezha Automobile to step up its strategy of "going out to sea". At the same time, nearly 100 Nezha U and Nezha V were shipped to Jordan, which was the first batch of Nezha cars exported to Jordan.

● Full text summary

　　According to the published sales data in February, although February is a traditional off-season, many manufacturers still give satisfactory answers. Among the traditional car companies, the growth momentum of BYD, Krypton and Chery Group is still strong, but the sales data of car companies such as Great Wall have not yet been announced, and what transcripts they will hand over in February is also expected.

　　Among the new car companies, the Spring Festival holiday and other factors generally affected the delivery quantity, but Weilai Automobile and LI still achieved sales of 12,157 and 16,620 vehicles. Next, with the introduction of time-limited subsidies in various places, it has attracted a lot of car purchases, greatly enhancing the consumption environment and consumers’ desire to buy. Let’s look forward to it. (Text/car home Zhouyi)

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The four major banks can make a national installment of 20% from Toyota Financial Support 0 down payment for a maximum of five years.

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The 2023 Ford Fierce Horse Raptor (Configuration | Inquiry) version adopts a straight roof line, thus obtaining a better head space inside the car. At the same time, the use of a penetrating waistline also makes the new car look more layered. In addition, the front and rear fenders slightly protrude from the car body, with the concave design under the door and large-size wheels, it looks stable. At the rear of the car, the new car is equipped with a plug-in rear spare tire, and the taillights on both sides are vertical, which has excellent effect after lighting. The black protruding rear bumper design is very off-road. 24-hour hotline 133 4207 0760 with WeChat

Vigorous horse 23 3.0T four-door Raptor Raptor raptors configuration: 3.0T V6 10-speed intelligent 4X4 horsepower 7 driving modes; RAPTOR HOSS4.0 suspension; FOX3.1 nitrogen shock absorption; 37 tires; 4.7 Lock the transmission ratio of the rear axle reducer; Front and rear differential; The front anti-roll bar is disconnected; Detachable door and hardtop; High performance heavy modular front bumper; Rigid fog lights and off-road lights; Heavy vehicle steel baffle; 360-degree loop image; LED signature lamp and fog lamp; Rear view mirror heating; Trailer coupler front 2 rear 2; Start the shaking with one key; 12-inch touch navigation screen. 24-hour hotline 133 4207 0760 with WeChat

The 2023 Ford Fierce Horse Raptor adopts a tough design style. The center console has a distinct and layered design, and the materials are also thick. The multi-function steering wheel is modeled and moved. The embedded design of the central control screen adds a sense of fashion in the car, with reasonable button layout, exquisite gear handle design, wide and thick seats, spacious space and strong practicality. 24-hour hotline 133 4207 0760 with WeChat

The 23 models of Bronco Fierce Horse Raptor are equipped with a 10-speed automatic transmission, which is an automatic manual transmission. The driver can manually shift gears, and the power is transmitted through the front and rear larger transmission shafts and connected to the upgraded Dana axle. The 4×4 system is equipped with an upgraded transfer case, a clutch with higher capacity, and the Baja mode is adjusted (the chassis can be adjusted according to the terrain selection). Bronco Raptor is also equipped with towing/trailer mode with a maximum towing capacity of 4,500 pounds (2041KG). 24-hour hotline 133 4207 0760 with WeChat

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For more configuration colors, please add WeChat to send you comparison.

The four major banks can make a national installment of 20% from Toyota Financial Support 0 down payment for a maximum of five years.

No pit, no cheating, no routine, no binding, hidden consumption, modification, quality guarantee, car guarantee and brand guarantee.

When talking about a car model, the first thing you should talk about is its line drawing. In terms of line drawing, the Mercedes-Benz family-style off-road style is adopted, and the chrome-plated air intake grille is very three-dimensional. The unique headlights on both sides are shaped, and the internal light groups are patchy and bright. The profile of the car body is still the unique streamlined car body of Mercedes-Benz, and the enchanting figure is even more vividly displayed! In addition, it makes its sports atmosphere more intense. At the same time, the reasonable proportion of luggage compartment cover and enclosure also gives the tail shape too much visual center of gravity, and the design of taillights is also interesting, which shows great personality after lighting.

In the interior style, Mercedes-Benz GLA emphasizes luxury and brilliance. The steering wheel in the car is wrapped with leather material, which is very comfortable in texture and touch. The central control area is made of plastic, leather and metal, and the materials and workmanship look quite satisfactory. The 8.0-inch suspended large screen has simple screen design but complete functions. The front row is also equipped with a manual air conditioning control system, which can freely debug the most comfortable space atmosphere. Leather seats give passengers just the right support and soft and comfortable touch.

The length, width and height are 4446×1849×1625mm respectively, and the wheelbase has reached 2729mm. In the same class, the wheelbase of Mercedes-Benz GLA ranks 45th. The skylight of Mercedes-Benz Glaglagla 220 4 MATIC provides a wider view, which can create a better visual environment and good sensitivity for the rear passengers and increase the light entrance for the whole vehicle. Among the models of the same price and class, the trunk volume of Mercedes-Benz GLA ranks 34th. Spatial performance is limited by vehicle positioning, and the performance is acceptable, and the flatness is no problem, but the total space is average.

Mercedes-Benz GLA is equipped with a combination of 2.0 turbocharged engine (direct injection) and wet dual clutch (DCT). It will definitely bring unforgettable control charm. Mercedes-Benz GLA’s official measured zero acceleration score is 8.1S, ranking 53rd among 250,000-400,000 SUV models.

The active/passive safety configuration of Mercedes-Benz GLA is complete, includingAutomatic parking、Zero tire pressure endurance tire、Automatic parking、Steep slope descent、hill start assist control、knee airbag、HUD head-up display、Anti-lock braking (ABS)、Braking force distribution (EBD/CBC, etc.)、Brake assist (EBA/BAS, etc.)、Traction control (ASR/TCS, etc.)、Active noise reduction、Engine start and stop、Side safety air curtain、Wireless charging of mobile phone、night vision system、LED daytime running lights、Forward reversing radar、Tire pressure monitoring、Steering wheel heating、Body stability control (ESP/DSC, etc.)、Rear reversing radar、Fatigue reminder、Remote parking、Child seat interface、Lane keeping (LKAS)Equal configuration.

Among them,Automatic parkingYou can avoid stepping on the brakes for a long time or needing to pull frequently;Steep slope descentCan safely pass through steep slope road conditions at low speed;knee airbagReduce the injury of the car interior to the occupant’s knees in the secondary collision.

In order to get a more comprehensive and objective understanding of Mercedes-Benz GLA, you can go to the Easy Car Mercedes-Benz GLA Forum and browse the messages of users who have purchased the car in history.

Economic observation of original half-moon sports

Author: half moon

Words in this article: 3366 words

Suggested reading time: 11 minutes

After the long-lost offseason, the starting signal of F1 finally lights up again.

On February 29th, Beijing time, the opening match of the 2024 F1 season started in bahrain international circuit. In the first race of the new season, Red Bull Team still maintained a strong performance. In 2023, driver champion Vestapan and teammate Perez won the championship and runner-up, while the five major teams-Red Bull, Ferrari, McLaren, Mei Ben and Aston Martin-won the top ten.

In the competition for the "Earth Group", Guanyu Zhou of Sauber Team won successfully and achieved the 11th place. Bahrain can be called the "blessed land" for China drivers. In the mid-2022 season, Guanyu Zhou’s F1 "debut" was staged in Bahrain, and the first show, the tenth successful score, surprised the paddock.

For Sauber, Guanyu Zhou’s stable performance in the past three years has lived up to their vision of material selection. However, as a "small team", Sauber needs to tap the potential of the car and introduce more resources to support it if he wants to make further progress in F1.

Sauber will wait for another two years, and in the 2026 season, Audi will start to enter the market.

The second plum blossom? Audi wants to acquire 100% equity of Sauber Team.

Before talking about Audi’s entry into F1, let’s review several key nodes.

First, at the end of August 2022, Audi officially announced that it would enter F1 in 2026. Marcus duesman, then chairman of Audi’s board of directors, said that it is an excellent opportunity for Audi to enter F1 by adopting the new competition rules of power unit in 2026.

Second, on October 26th, 2022, Audi officially announced that it would choose Sauber as its strategic partner to enter F1. Sauber will compete as an Audi factory team and use the power unit provided by Audi.

Third, in January 2023, Audi officially announced the acquisition of a minority stake in Sauber. Duesman, the former CEO of Audi, planned to gradually acquire most of Sober’s shares through a three-year plan. However, according to recent reports, Gernoth dorna, who took over from duesman, adjusted his plan to seek 100% control at the end of 2023. It is rumored that Oliver Hofmann, chief technology officer of Audi, will step down as CTO and take over the F1 project.

Audi wants to hold 100% of Sauber, just like the heart of Si Mazhao, which is well known. Audi’s ambition to enter F1 is nothing more than trying to make some achievements in F1. The last time a well-known car brand that was talked about by car fans bought a team and entered F1, it was also the German Trident. At that time, Mei Ben, also known as Durham Group, and its partner Aabar Investment Company acquired 75.1% and 24.9% shares of Brown GP Team in November 2009 and February 2011, respectively, and formally entered the paddock.

With strong R&D and investment, Mei Ben started the Eight Crown Dynasty. Also backed by the powerful Volkswagen Group, there is no reason for fans not to believe that Audi will make a breakthrough in the paddock, and even "re-carve" Mei Ben’s achievements.

The way to enter F1 is not only to acquire the existing fleet, but also to "expand the army". Why not choose the latter? Cost and adaptability may be the two major factors that Audi chooses to acquire.

Compared with the way of "expanding the army", the cost of Audi’s acquisition of Sauber team to enter F1 is obviously lower. Especially considering the overall appreciation of F1 events, letting a new team join means that the profits of 10 teams are less now. The lack of "cake" is obviously not happy for those with vested interests.

According to the 2023 financial report released by Free Media Group a few days ago, the total dividends of 10 F1 teams increased from $1.157 billion in 2022 to $1.215 billion in 2023.

In 2023, Team Andreetti of the United States has publicly stated that it wants to join the ranks of F1. Even though the FIA’s attitude is to expand the F1 market, especially the American market, nothing happened in the end. The prerequisite for Andreetti team to join is to pay a fee of 200 million US dollars, which is equivalent to buying F1 seats to compensate other teams.

The cost of $200 million is not a stumbling block for Audi, but it is the most difficult to win the consent of the other 10 teams. The lobbying cost and time cost involved are the most "expensive" for Audi. Instead of stumbling, it is better to buy a "Earth Group" team directly.

Secondly, the acquisition of Sauber will also enable Audi to retain the main team working structure after entering F1. As the apple of today’s motor racing, the operation of an F1 team involves many aspects, and these staff will play a key role in helping Audi to adapt to the pace of the paddock. Although Audi has a long history in racing, the German brand still needs to learn and adapt in F1.

According to foreign media reports, in the three years from 2023 to 2025, Audi will acquire 75% of Sauber’s shares for 450 million US dollars, while Sauber’s team’s valuation is about 600 million US dollars. This figure is less than 1% for Audi Group, which earned more than 61.8 billion euros (about 67 billion US dollars) in fiscal year 2022.

The new regulations in 2026 are in line with Audi’s strategic goals.

The importance of power unit to F1 racing car, I believe fans must know it very well. In August 2022, the FIA officially announced that in the 2026 season, the brand-new F1 power unit will be officially implemented. This will be the biggest change in the F1 power unit since the application of the V6 engine of the hybrid power system in 2014.

The most obvious change is that the new power unit puts more emphasis on electric energy and sustainable fuel. The power output of the new power unit will be tripled, and the transition from 120kW to 350kW motor-generator will bring more power. After introducing more powerful electric energy, the peak output of the system will exceed 1000 horsepower. The application of sustainable fuels has always been the direction of F1 efforts. F1 aims to fully use 100% sustainable fuel in 2026. These two tasks will make F1 stadium more environmentally friendly.

It is worth mentioning that the key to Audi’s entry into F1 is that the FIA abolished the energy recovery system called MGU-H in the new regulations in 2026. In short, MGU-H can provide power for MGU-K by converting thermal energy in exhaust gas into electrical energy, and the latter’s function is to convert kinetic energy generated during braking into electrical energy.

As a very advanced and complex technology, MGU-H is very expensive to build and is one of the more expensive parts in racing cars. So this is also a power component that many teams and engine suppliers want to abolish. Audi is willing to join the F1 competition because the MGU-H parts are excluded from the new regulations.

Under the new rules of power unit, it means that all teams will return to the same starting line. This is undoubtedly good news for the new Audi. Otherwise, if F1 is added before 2026, the power unit that has been used for two or three years will be equivalent to "invalid" in the 2026 season. From the perspective of time cost and money cost, it is obviously not in line with the actual situation. Then under the new rules, Audi and other teams set off at the same starting line.

In the final analysis, "electrification, environmental protection and sustainability" is still the core of Audi’s entry into F1, which is also where the new regulations in 2026 are in line with the strategic objectives of Audi Group. From the company level, audi ag has been emphasizing electrification and sustainable strategy in recent years. In March 2021, Volkswagen released the "ACCELERATE strategy", one of which was to accelerate the electrification transformation.

As for 100% sustainable fuel, it has always been the development goal of Volkswagen Group. The goal of German automobile brands is to achieve carbon neutrality in 2050.

Thus, from the strategic goal, the new F1 power unit regulations in 2026 are in line with the efforts of Audi and Volkswagen Group. This can partly explain why Audi chose to enter F1 in 2026.

Audi entered F1 for what?

Audi or Volkswagen has long been expected to enter the F1 track.

The reason lies in Audi’s accumulation in motor racing. Fans who are familiar with Audi brand or motorsport must know that Audi’s important DNA is motorsport spirit, and this brand has a history of 100 years. German brands have appeared in world-famous automobile races, and have achieved brilliant results in many races, but they have not appeared in F1 at the top of the pyramid in the form of motorcades.

Audi’s last and most important piece of racing puzzle will finally be put together in 2026. With the addition of Audi, F1 has added more attractions and topics. For Audi, there have been many opportunities to join F1, but why did it not enter until now? The reasons behind it are worth exploring. In my opinion, there are four main reasons.

First, the rising value of F1 events. After the free media group took over, the income and attention of F1 events increased greatly. According to the 2023 financial report of Free Media Group, the total revenue of F1 in 2023 was $3.222 billion, a year-on-year increase of 25%, and the operating profit also increased from $239 million to $392 million, a year-on-year increase of 64%.

The rising revenue of F1 events means that the penetration of motor racing is deepening to some extent. Then Audi, whose brand DNA is motorsport, has no reason not to join in today’s F1 race. With its years of experience and technical accumulation in motor racing, Audi’s journey in F1 may bring surprises to fans.

Secondly, it is the brand strategy of F1 and Audi. As mentioned above, Audi has accelerated the transformation of electrification. Under the application of the new rules, Audi can transfer the technology of hybrid power unit to the commercial models in the future through the practice in F1. It is foreseeable that electric vehicles will become the mainstream of the automobile market in the near future, so the technology and experience acquired by Audi in F1 will enhance Audi’s competitiveness in the wave of electrification.

In addition, it is Audi’s strategy of deepening youth and digitalization, which is also what F1 has been doing in recent years. The documentary "Drive to Survive" co-produced by F1 and Netflix created many highlights and topics for this event on streaming media, and successfully attracted a large number of new fans. A considerable part of these fans are young audiences, and Audi is also a car brand that emphasizes youthfulness. For Audi, this young audience may be one of the potential consumers of Audi’s target. Therefore, Audi’s brand strategy is consistent with the audience of F1 events today, which is also an important factor.

The third point is that both F1 and Audi are eyeing the China and American markets. China is Audi’s largest market in the world, accounting for 38.37% of its sales in 2023. China’s first F1 driver, Guanyu Zhou, played for Sauber, which cooperated with Audi. To some extent, this has promoted the development of motor racing in China. However, it is still unknown whether Guanyu Zhou will continue to play for the team in 2026. But what is certain is that Audi wants to continue to increase its market share in China, and Guanyu Zhou is their best choice.

As for the American market, it is also an important target of Audi’s efforts. In the American market in 2023, Audi sold 228,000 new cars, a year-on-year increase of 22%. At the same time, the United States is also a key market for F1. In the F1 race of the 2024 season, the United States occupied three sub-stations. This is enough to show the importance of the American market to F1. In other words, Audi can join hands with F1 to enhance its influence in the American market.

Finally, the key factor is that domenicali, the chairman and CEO of F1, once worked in Audi Group. In the process of Audi’s decision to enter F1, the "lobbying" role played by Italians was not ruled out. Domenicali, who has been at the helm of F1 since January 2021, once said that he would like to see more new manufacturers join F1.

In my opinion, rather than saying that Audi wants to join F1, F1 also wants Audi to join-several world-renowned automobile brands compete for the championship in F1, which will inevitably make the attention of the event by going up one flight of stairs, enhance the attention and correspondingly increase the income of the event. Therefore, the ultimate beneficiaries of Audi’s participation in F1 may be F1 events and the 10 teams in the paddock.

After all, everyone is good, which is really good.

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Original title: "Audi joined F1, who climbed who? | Sports Events

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　　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.

　　(Last updated in May 2020)

　　[Members] 27 countries: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Romania, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain and Sweden.

　　[Population] 440 million

　　[Area] 4.14 million square kilometers

　　[GDP] 16.44 trillion euros (in 2019, including Britain) and 13.92 trillion euros (in 2019, excluding Britain)

　　[General Department] Brussels, Belgium

　　[League Flag] A ring consisting of 12 golden five stars on a blue background

　　[League Song] The main theme of "Ode to Joy" in Beethoven’s Ninth Symphony

　　[Celebration Day] "Schumann Day" May 9

　　[Presidency] Croatia (first half of 2020), Germany (second half of 2020) and Portugal (first half of 2021)

　　[A Brief History of Development] On May 9, 1950, French Foreign Minister Schumann issued a statement (known as "Schumann Plan" in history), suggesting that France and Germany establish a coal and steel community. In July 1952, France, West Germany, Italy, the Netherlands, Belgium and Luxembourg formally established the European Coal and Steel Community. In January 1958, six countries established the European Economic Community and the European Atomic Energy Community. In July 1967, the main institutions of the three communities merged and were collectively called the European Community. In November 1993, the Treaty on European Union (also known as the Maastricht Treaty) came into effect, and the European Community evolved into the European Union (EU). In January 2002, the euro entered circulation smoothly. After the entry into force of the Lisbon Treaty in 2009, the EU has the qualification as a subject of international law, and formally replaced and inherited the European Community. The Lisbon Treaty also provides for the relevant procedures for member States to withdraw from the EU for the first time.

　　The EU has experienced seven expansions: Britain, Ireland and Denmark joined in 1973; Greece joined in 1981; Spain and Portugal joined in 1986; Austria, Finland and Sweden joined in 1995; On May 1, 2004, Poland, Hungary, Czech Republic, Slovakia, Estonia, Latvia, Lithuania, Slovenia, Cyprus and Malta joined the EU. On January 1, 2007, Romania and Bulgaria joined the EU. Croatia officially became the 28th member of the European Union on July 1st, 2013. At present, Albania, Montenegro, northern Macedonia, Turkey and Serbia are candidates for membership.

　　Britain decided to leave the EU by referendum in June 2016, and left the EU on January 31, 2020 and entered a transitional period until December 31, 2020.

　　[Internal Construction] The European integration construction has made continuous positive progress in twists and turns for more than half a century. The European Union has successively established a customs union, implemented common trade policies, agricultural and fishery policies, unified the internal big market, and basically realized the free circulation of goods, people, capital and services. Established an economic and monetary union and unified the currency in the euro zone. The integration construction has gradually expanded to the fields of diplomacy, security, justice and internal affairs, and has made continuous progress. Through the Treaty of Amsterdam and the Treaty of Nice, the EU has gradually incorporated the Schengen Agreement into the EU legal framework and judicial cooperation in the civil field into the EU mechanism. After the entry into force of the Lisbon Treaty in 2009, the reform of the EU mechanism started one after another. In that year, Van Rompuy, the first permanent president of the European Council, and Ashton, the first EU High Representative for Foreign Affairs and Security Policy and Vice President of the European Commission, were elected. In March 2010, the European Union put forward a plan for the establishment of the External Action Agency, and the appointment of the main positions and the establishment of the agency were initially completed the following year. After the outbreak of the European debt crisis, the EU further promoted relevant reforms, including actively promoting the construction of banking union, capital market union, energy union and single digital market, and strengthening cooperation in the fields of security and defense. At present, the EU is the group of countries with the highest degree of regional integration in the world.

　　[Main institution]

　　(1) the European Council, also known as the EU summit or the EU summit. The highest decision-making body of the European Union. The Council of Europe is composed of heads of state or government of member States, the President of the Council of Europe and the President of the European Commission. The Council of Europe has the post of President, with a term of two and a half years, which can be renewed for one term. The current chairman is former Belgian Prime Minister Charles Michel, who took office on December 1, 2019.

　　(2) The Council of the European Union, also known as the Council of Ministers, is the EU legislative and policy-making and coordinating body. The Council is composed of one ministerial representative from each member state and corresponding ministers according to different areas of discussion. Except that the Council of Ministers is chaired by the High Representative for Foreign Affairs and Security Policy of the European Union, the President of the Council is the rotating presidency, with a term of six months.

　　(3) The European Commission, referred to as the European Commission for short, is the legislative proposal and executive body of the European Union. The current Committee consists of 27 members, consisting of one representative from each member country, including one chairman and eight vice-chairmen, with a term of five years. The current chairman is Ursula von der Leyen, former German Defense Minister, who took office on December 1, 2019.

　　(4) European Parliament. EU supervisory, advisory and legislative bodies. Members are directly elected by member States for a term of five years. The current (ninth) parliament was formally established in July 2019, with 705 members and 7 party groups. The current Speaker, Sassoli (Italian), was elected and took office in July 2019 for a term of two and a half years.

　　(5) European External Action Service. Under the leadership of the EU High Representative for Foreign Affairs and Security Policy (who is also the Vice-President of the European Commission), it coordinates the foreign policies of member States. The current EU High Representative for Foreign Affairs and Security Policy Josep Borrell, former Spanish Foreign Minister, who took office on December 1, 2019.

　　The EU is the second largest economy in the world. In 2019, the euro zone economy grew by 1.2%. The International Monetary Fund predicts that the economic growth rate of the euro zone will be -7.5% in 2020.

　　[External Relations] The EU External Action Agency is the competent department of the EU’s external relations, which consists of six general departments: Asia-Pacific, Europe and Central Asia, Americas, Africa, Middle East and North Africa and Human Rights, Global and Multilateral Affairs. The authority includes traditional foreign policy, development policy, human rights, military security, civil crisis management and other fields. EU member states make decisions through intergovernmental cooperation.

　　The EU is actively engaged in all-round diplomacy. By the end of 2019, diplomatic relations have been established with more than 160 countries, and 39 regional and international organizations have sent representative offices to the European Union. We have established strategic partnership and regular leaders’ meeting mechanism with many parties. The EU pursues effective multilateralism, advocates free trade, actively leads international cooperation in energy and climate change, and emphasizes maintaining the status and role of the United Nations. In June 2016, the EU issued a global strategy of foreign and security policy entitled "Common Vision, Common Action: A Stronger Europe", aiming at the four common interests of promoting peace and security, achieving prosperity, promoting democracy and establishing a rules-based international order, and taking "principled pragmatism" as the basic program of foreign action. In December 2019, the new EU institutions decided to take "pragmatism, unity and partnership" as the three major diplomatic principles and vigorously carry out "climate diplomacy".

　　Relations with Britain. During the transition period, Britain has the right to negotiate new agreements in trade and other fields with third parties when it withdraws from the EU institutions, but it must continue to abide by EU laws and rules, temporarily stay in the EU customs union and the single market, and start negotiations on the UK-EU free trade agreement.

　　Relations with the United States. Europe and the United States are allies in politics and security, and are the most important trade and investment partners in economy. In July 2018, European Commission President Juncker visited the United States, held talks with US President Trump and issued a joint statement, saying that it would open a new stage of Europe-US relations with profound friendship, trade promotion and mutual benefit. In September, the European Parliament adopted a report on European-American relations. There are differences on issues such as free trade, military expenditure sharing, climate change and the Iranian nuclear issue. In October 2019, the United States announced a new tariff of 6.7 billion euros on European products. In December, the United States once again announced the imposition of tariffs on European products, and the European Union said that member States would jointly respond to the US-Canada tariff plan.

　　Relations with Russia. EU attaches importance to its relations with Russia. Russia is the largest neighbor, the third largest trading partner and an important energy source of the European Union. At the same time, there are differences and contradictions between Europe and Russia on issues such as energy supply and European security. The Ukrainian crisis has seriously affected European-Russian relations, leading to economic sanctions imposed by the European Union on Russia. In June 2019, the EU announced the extension of sanctions against Russia until June 23, 2020.

　　Relations with western Balkan countries. The EU has held many summits with five western Balkan countries (Albania, Bosnia and Herzegovina, northern Macedonia, Montenegro and Serbia) and Kosovo, mainly discussing regional economic development and the accession of western Balkan countries. In February 2018, the European Commission issued the "Western Balkan Strategy" to actively promote the accession process of the five western Balkan countries and Kosovo. In April 2019, the informal summit of the Western Balkans of the European Union was held in Berlin, attended by leaders of the five western Balkans and Kosovo. In July, the EU Western Balkan Summit was held in Poznan, Poland, focusing on cooperation in the fields of transportation and energy, digital economy, security and good-neighborly relations. At present, Albania, North Macedonia, Montenegro and Serbia are candidates for membership.

　　Relations with "eastern partner countries" In 2009, aiming at Armenia, Azerbaijan, Belarus, Moldova, Georgia, Ukraine and other six countries, the European Union put forward the "Eastern Partnership" plan under the framework of peripheral policies, and devoted itself to promoting relations with the six countries at the bilateral and multilateral levels. In 2009, the first Eastern Partnership Summit was held in Prague and the Declaration on Eastern Partnership was signed. Since then, the summit has been held four times, namely Warsaw Summit (2011), Vilnius Summit (2013), Riga Summit (2015) and Brussels Summit (2017). In May 2019, the EU held a series of activities to celebrate the 10th anniversary of the Eastern Partnership. In October, the European Council decided that the European Commission and the EU External Action Agency should solicit opinions from all parties and submit the EU’s "Eastern Partnership" development proposal after 2020 in due course.

　　Relations with Central Asian countries. In December 2015, the EU held an EU-Central Asia ministerial meeting with Central Asian countries, and announced that it would provide 1 billion euros of development assistance to Central Asian countries by 2020 to support countries in the region to achieve sustainable natural resource management, social and economic development and regional security. In May 2019, the EU issued a new strategic policy document for Central Asia. The EU supports the early realization of peaceful reconciliation in Afghanistan, and believes that only through political dialogue can the Afghan issue be finally solved, and supports the signing of a peace agreement between the United States and the Taliban in Afghanistan.

　　Relations with African countries. The EU is Africa’s main trading partner and the most important donor. In December 2005, the EU adopted its first Africa strategy document, EU and Africa: Towards Strategic Partnership. In May 2019, Mogherini, High Representative of the European Union for Foreign Affairs and Security Policy, visited four countries in the Horn of Africa (Somalia, Kenya, Djibouti and Ethiopia). In February 2020, European Commission President Ursula von der Leyen and EU High Representative for Foreign Affairs and Security Policy borrell visited the AU headquarters to attend the 10th EU-AU Commission meeting. In March, the EU issued a new strategic document on cooperation with Africa, focusing on green transformation and energy, digital transformation, sustainable growth and employment, peace, security and governance, migration and personnel mobility.

　　Relations with countries in the Middle East. The EU is concerned about the Middle East peace process and advocates recognizing Israel’s right to exist and the Palestinian people’s right to establish a state, and peacefully resolving the Arab-Israeli conflict through political negotiations. The EU is seriously concerned about the announcement by the United States to recognize Jerusalem as the capital of Israel and the impact this will have on the prospects for peace in the Middle East. The EU is committed to safeguarding the Iranian nuclear deal, supporting the "trade settlement support mechanism" of Britain, France and Germany, and expressing concern about Iran’s reduced compliance. The EU is the largest provider of humanitarian assistance to Syria, supports Syria’s sovereignty and territorial integrity, advocates political channels to solve the Syrian issue, and actively promotes the Syrian opposition to participate in peace talks. The EU is concerned about Libyan refugees, terrorism, arms smuggling and other issues, supports the UN-led peace process, and calls for political dialogue to solve the Libya issue.

　　Relations with other Asian countries. The EU attaches great importance to its relations with Asia and continues to increase its investment in the region. In January 2018, the 25th meeting of the EU-ASEAN Joint Cooperation Committee was held in Jakarta, Indonesia. In May, the EU Council of Foreign Ministers adopted a resolution on strengthening security cooperation with Asia, regarding maritime security, cyber security, counter-terrorism, dealing with mixed threats, conflict prevention and non-proliferation as key areas for deepening security cooperation between the two sides. In October 2019, the EU issued the policy document "Strengthening Security Cooperation with Asia", clarifying that the EU attaches great importance to security cooperation with the Asian region, and will deepen cooperation between the two sides in the fields of maritime security, cyber security, counter-terrorism, conflict prevention and mixed threats, and focus on improving the level of cooperation with ASEAN.

　　Relations with Latin American countries. EU seeks cooperation with Latin American countries. In April 2018, the EU and Mexico reached a new trade agreement to impose zero tariffs on trade in goods. In May, the first EU-Cuba Council meeting was held in Brussels. On the issue of Venezuela, the EU advocates that the crisis should be resolved by the Venezuelan people themselves through peaceful means, and that Venezuela needs to hold free and fair presidential elections and oppose external military intervention. In February 2019, the EU led the establishment of the "International Contact Group" on Venezuela. In October, the European Union, UNHCR and the International Organization for Migration held an international solidarity conference on the Venezuelan refugee and immigration crisis in Brussels.

Source: Website of the Ministry of Foreign Affairs.

Cctv news: According to the news of WeChat WeChat official account, the Internet and related service industries developed steadily from January to October. Business income and operating profit of enterprises maintained rapid growth; Internet platform services and data services have grown significantly; Many provinces maintained a growth trend; The number of mobile applications continues to decline.

I. Overall operation

Internet business revenue maintained a rapid growth trend. From January to October, China’s Internet and related service enterprises above designated size (referred to as Internet enterprises) completed business income of 1,310.2 billion yuan, up 23.4% year-on-year, and the growth rate dropped by 2 percentage points compared with the previous three quarters, with an average growth rate of 18.1% in two years.

Figure 1 Growth of Internet business income from January to October in 2020-2021 (%)

Operating profit and operating cost increase simultaneously. From January to October, Internet companies achieved an operating profit of 117.4 billion yuan, a year-on-year increase of 21.3%, an increase of 4.5 percentage points over the previous three quarters, with an average growth rate of 14.9% in two years. Operating costs increased by 20.9% year-on-year, and the growth rate decreased by 3.7 percentage points compared with the previous three quarters.

The growth rate of research and development expenses has dropped. From January to October, Internet companies spent 58.79 billion yuan on R&D, up 2.6% year-on-year on the basis of a high base in the same period last year, and the growth rate dropped by 9.3 percentage points compared with the previous three quarters.

Second, the sub-business operation

(1) The revenue from information services continued to grow, and the field of audio and video services showed an outstanding growth. From January to October, Internet companies completed information services (including online music and video, online games, news information, online reading, etc.) with a total revenue of 706.1 billion yuan, up 17.5% year-on-year, and the growth rate dropped by 2.3 percentage points compared with the previous three quarters. It accounts for 53.9% of Internet business income. Among them, the field of audio and video services has maintained rapid growth; Enterprises in the field of online games grew steadily; The business income of news and content service enterprises increased rapidly; The growth rate of business income of enterprises mainly providing search services rebounded.

(2) Internet platform revenue grew rapidly, and the growth rate of online sales and production logistics services declined slightly. From January to October, the income of Internet companies from platform services (mainly production service platform, life service platform, scientific and technological innovation platform and public service platform) was 484.1 billion yuan, up 38% year-on-year, and the growth rate dropped by 3 percentage points compared with the previous three quarters. It accounted for 37% of Internet business income, up 3.9 percentage points year-on-year. Among them, the business income of online sales platform and life service platform enterprises declined slightly compared with the previous three quarters; Enterprises providing manufacturing platform services grew steadily; The income of production and logistics platform enterprises has declined compared with the previous three quarters.

(3) The income from Internet access services increased slightly, and the development of Internet data services accelerated. From January to October, the income of Internet enterprises from Internet access and related services was 35.03 billion yuan, up 3.4% year-on-year, and the growth rate was 2.4 percentage points higher than that in the previous three quarters. The revenue from completing Internet data services (including cloud services and big data services) was 22.21 billion yuan, a year-on-year increase of 28.2%, and the growth rate was 0.9 percentage points higher than that in the first three quarters.

Third, the operation by region

The income of Internet business in the eastern region has grown steadily, while that in the western region has increased rapidly. From January to October, the income from Internet business in the eastern region was 1,115.4 billion yuan, up 23.6% year-on-year, and the growth rate dropped by 1.6 percentage points compared with the previous three quarters, which was 0.2 percentage points higher than the national average, accounting for 89.6% of the national (excluding cross-regional enterprises) Internet business income. The income from Internet business in the western region was 78.29 billion yuan, up 41% year-on-year, and the growth rate was 17.6 percentage points higher than the national average. The income from Internet services in central and northeast China was 47.64 billion yuan and 3.93 billion yuan respectively, up by 2.3% and 6.9% year-on-year, and the growth rate dropped by 0.9 and 3.6 percentage points respectively compared with the previous three quarters.

Internet services in many provinces maintained a rapid growth trend. From January to October, Beijing (up by 29.6%), Guangdong (up by 11.8%), Shanghai (up by 36.5%), Zhejiang (up by 17.7%) and Jiangsu (up by 3.7%), the top five Internet businesses, achieved a total revenue of 1,041.9 billion yuan, up by 23.7% year-on-year, accounting for the whole country (. There are 25 provinces and cities that have achieved positive growth in the growth rate of Internet services nationwide, an increase of one from last month. Among them, Hainan, Yunnan, Tibet and other three provinces increased by more than 50%, while Anhui and Jilin provinces decreased by more than 15%.

Fourth, the development of China’s mobile application (APP)

The total number of mobile applications (apps) continues to decline. By the end of October, the number of apps monitored in China’s domestic market was 2.72 million, a net decrease of 20,000 compared with the end of September. Among them, there are 1.36 million APPs in local third-party app stores and 1.36 million apps in Apple Store (China). In October, there were 110,000 new apps on the shelves and 130,000 apps off the shelves.

The number of game applications still ranks first. By the end of October, the number of apps ranked in the top four in mobile application scale accounted for 59.1%, and other 10 types of apps such as life services and education accounted for 40.9%. Among them, the number of game apps continued to lead, reaching 679,000, and the number was the same as at the end of September, accounting for 25% of all apps. The number of daily tools, e-commerce and social communication apps reached 406,000, 274,000 and 247,000 respectively, ranking second to fourth. The number of photo photography and theme wallpaper apps has increased more than that at the end of September.

The downloads of games, daily tools, social networking and audio-visual applications are in the top. By the end of October, the total distribution of on-shelf applications in China’s third-party application stores reached 2,039.4 billion times. Among them, the downloads of games, daily tools, social communication and music videos all exceeded 200 billion times, reaching 292.4 billion times, 279.2 billion times, 254.5 billion times and 231 billion times respectively, ranking first to fourth; Life service, news reading, system tools and e-commerce ranked fifth to eighth with 187 billion times, 156.6 billion times, 150.8 billion times and 138.9 billion times respectively. Among other applications, the applications that have been downloaded more than 50 billion times include finance (99.7 billion times), photography (77.5 billion times) and sports health (50 billion times).

Original Wuhan Release Wuhan Release included in the collection # Smiling Angels in Wuhan 33

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Award publicity and exhibition time

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Submission of works

Design category: Yangtze finless porpoise theme digital creative works. Taking "Digital finless porpoise" as the theme, combining the traditional culture, regional characteristics, ecological civilization, digital empowerment and postal culture of China.

Specification of works: static works: the resolution is not less than 150dpi, and the size of a single file is not more than 2m; Dynamic works: submitted in the form of video, with a single file not exceeding 30M, MP4 format and video coding of H.264.

Collection target: for the whole society.

The works of this design competition are accepted in the form of electronic documents, and the documents are submitted in JPG format. After the finalists have physical works, they can submit physical samples to participate in the final evaluation. The designated email address for the contest is: wbcf@ihb.ac.cn.

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Intellectual property agreement

Participants should ensure that the works provided belong to their own copyright. The organizer is not responsible for any actual infringement caused by the use of the works provided/completed by the contestants, or for being accused of infringement by any third party. Once the above situations and events occur, the participants must bear all relevant legal responsibilities and economic compensation responsibilities, and protect the organizers from taking responsibility.

Ownership of copyright

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Wuhan Agriculture and Rural Bureau

Hubei Provincial Committee of Communist Youth League

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Wuhan cloud computing technology co., ltd

China post group co., ltd. Wuhan branch

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White dolphin national nature reserve in Xinluo section of the Yangtze River in Hubei Province

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Alipay (Hangzhou) Information Technology Co., Ltd.

Please indicate the source of the original products reproduced by Wuhan Publishing Editorial Department.

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　　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)