near future

　　Many people’s social platforms

　　It was screened by a dance "Subject III"

　　(The "Subject III" dance that exploded on the Internet)

　　Shake one’s hands, waist and hips.

　　And a half-twisted foot

　　With the music with bright rhythm

　　It’s really magical

　　It also attracted many people to watch.

　　Many netizens are eager to try.

　　Want to learn

　　Although "subject three" is so happy.

　　It’s true that people are vulnerable.

　　Someone has jumped into the hospital.

　　After 00, my little brother jumped "subject three" and caused bone contusion.

　　Recently, the emergency orthopedics department of Changxing County People’s Hospital in Huzhou, Zhejiang Province received a younger brother after 00, because after jumping "Subject III" two days ago, his knee pain was unbearable and he could not squat.

　　After imaging examination, it was diagnosed as tibial plateau bone contusion and needed to be braked and rested.

　　The dance movements of "Subject III" can be divided into three parts: silky footwork, hand-waving, and crotch twisting. Among them, the most important thing to pay attention to is the silky footwork. Simply put, it means turning your feet over and practicing step by step, and gradually accelerating after proficiency.

　　However, if this movement is good, the silk will slide back in the next second, and if it is not good, it may sprain its ankle in the next second, because this movement is very similar to varus (instep outward, instep inward), one of the movements with high incidence of sprain.

　　The doctor reminded that the movement of "Subject III" requires a half-twisted foot varus. Jumping this movement requires the joint to be turned inside out quickly, and the tension is relatively large. If the strength and coordination of the knee joint and ankle joint are not enough, it will easily lead to sprain.

　　Beginners are prone to injury.

　　These people don’t recommend jumping with them.

　　Li Yuruo, director of the Sports Medicine Center of the First Affiliated Hospital of Jinan University, said that "Subject III" dance requires high joint flexibility. If you don’t have a dance foundation or learn to dance at will without professional practice, you are likely to get injured, such as ligament strain around your ankle and knee joint, ligament tear in severe cases, and even fracture.

　　"Subject 3" has a very fast rhythm, and it may be sprained if you are not careful. Beginners should not do some movements if they find them impossible, difficult or a little painful to do. After jumping, the joints of the limbs should be relaxed and stretched.

　　In fact, many people who suffer from dancing injuries are professional dancers. They may have danced all day, or trained for a long time. The muscles around the knee joint and ankle joint have been strained for a long time, and they didn’t choose to see a doctor until the pain was unbearable. In addition, there are also patients who are not relaxed and stretched properly during dancing, resulting in dancing injuries.

　　Experts remind that people with sprained ankles or old problems often sprain their ankles, meniscus injuries, cartilage injuries, ligament injuries, etc. in the knee joint are not suitable for dancing with large movements of ankles and knees.

　　What should I do after spraining my ankle?

　　If you sprain or sprain after dancing or accidentally, you’d better stop exercising immediately. If the affected area is swollen seriously, seek medical advice actively, and recommend the classic treatment method of ankle sprain before seeking medical advice. RICE principle:

　　R-rest: Stop activities, let the injured part rest still, and reduce further injuries.

　　Ice compress (I-ice): It can reduce the temperature of the injured part, relieve inflammation and muscle spasm, relieve pain and inhibit swelling. 10~20 minutes each time, more than 3 times a day. Be careful not to apply the ice directly to the affected area. You can wrap the ice with a wet towel to avoid frostbite. Ice compress is limited to 48 hours after injury.

　　C-compression: Use elastic bandage to wrap the injured ankle joint, and apply appropriate pressure to reduce swelling. Be careful not to over-pressurize, otherwise it will aggravate the swelling and ischemia of the distal limb of the package.

　　E-elevation: Raise the injured ankle slightly above the heart level to reduce swelling.

　　Note: even if there is no fracture, it should be braked for 2~3 weeks after sprain, so that the damaged ligament can be repaired and healed in the normal position.

　　How to effectively prevent sprain?

　　Exercise moderately, maintain muscle strength and flexibility, and warm up before exercise;

　　When you are on the slippery ground, you should walk carefully;

　　Wear high-heeled shoes or boots as far as possible to protect the ankle joint when moving on uneven roads;

　　Don’t wear shoes with worn soles;

　　Ankle sprain is easy to happen in the dark, so pay attention to lighting at night.

　　Transferred from: Guangzhou Health and Health Commission

Original title: "Subject III" dance is popular all over the network, and the three Davids also come to join in the Spring Festival Evening.

Recently, a song named "Subject III" became popular on the Internet. Its style is unique and has brainwashing effect, and the magic of dance steps is unforgettable. The original author of this song is a young man from Guangxi. He shared the story of his unsuccessful attempts to take the driving test (subject 3) on the Internet. However, when he successfully passed an exam, he excitedly danced this magical dance to celebrate and named it "Subject 3".

The appearance of this incident has made "Subject III" a hot topic on the Internet. To push this phenomenon to a wider audience, more promotion and publicity are needed. In this regard, the employees of a bottom fishing hot pot restaurant showed their talents. They performed the song "Subject 3" for customers to express their wishes to customers. This move instantly triggered a hot discussion on the Internet, making "Subject III" once again the focus of public attention. Today, "Subject 3" has become a household name, and it can be seen in both the Spring Festival Evening of David and other occasions.

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Editor in charge:

Since former design director Iger joined us, our Dynasty series models have become the spokesmen of high value. Recently, the driving sight learned from the official that the new Qin fuel version will be officially unveiled at the Chengdu Auto Show, which opened in September this year. The new car is built on the all-engine and all-power platform under BNA architecture, and its appearance continues the Dragon Face design language. In terms of power, the new car adopts the power combination of 1.5L+CVT, and meets the national six emission standards.

In terms of appearance, the new car continues the Dragon Face design language, and the hexagonal large mouth net is organically combined with four three-dimensional lines on the hood, which has a strong impact. The array LED headlights on both sides of the front of the car are standard equipment in the whole system, and the lighting effect with a sense of science and technology is very eye-catching. On the whole, take the front face as an example. Compared with the old Qin, it really looks a lot better, and it still has a little taste.

In terms of interior, the new car adopts an embracing cockpit layout and takes a simple scientific and technological route. The highlight of the new car interior is the 10.1-inch 8-core self-adaptive rotating suspension central control panel, equipped with a car-mounted multimedia system, which provides rich online entertainment functions. In addition, the new car is also equipped with a flat-bottomed multi-function steering wheel, which adds a sense of movement, and its seat is more sporty, and double stitching design is added to enhance the texture.

In terms of power, the new car will be equipped with a 1.5L naturally aspirated engine with a maximum power of 80kW and a peak torque of 148N·m, which meets the national six emission standards. In terms of transmission system, the new car matches CVT from Wan Liyang.

　　[Market Review]

　　The three A-share indexes collectively closed up on the last trading day. At the close, the Shanghai Composite Index rose by 0.91%, the Shenzhen Component Index rose by 2.21%, the North Stock Exchange 50 rose by 2.4%, the Growth Enterprise Market Index rose by 3.26%, and the turnover of the Shanghai and Shenzhen stock markets was 1,064.2 billion yuan. More than 4,600 stocks in the two cities rose. Northbound funds bought a net of 5.273 billion yuan throughout the day. On the theme of the sector, media, games, securities, computing power leasing and other sectors were among the top gainers; Oil and gas, coal, pork and other plates are floating green.

　　[breaking news]

　　OpenAI has launched a customized version of ChatGPT, which will be launched in the GPT store soon.

　　On November 6th, local time, OpenAI announced the launch of a customized version of ChatGPT in official website. According to reports, anyone can easily create their own GPT-without coding. From now on, users can create GPTs and share them publicly. In addition, later this month, OpenAI will launch the GPT store.

　　Xinhua News Agency: Accelerating the construction of a financial power is an inevitable choice for development.

　　On November 6, Xinhua News Agency published an article "Accelerating the construction of a financial power is an inevitable choice for development", which pointed out that to accelerate the construction of a financial power, finance should provide high-quality services for economic and social development. At present, China has embarked on a new journey of building a socialist modern country in an all-round way. Whether it is to solve the problem of insufficient development imbalance, to build a modern industrial system, and to continuously improve people’s quality of life, it needs high-quality financial development as a strong support. It is necessary to implement the "three efforts" put forward by the Central Financial Work Conference, strive to create a good monetary and financial environment, strive to build a modern financial institution and market system, and strive to promote high-level financial opening. We should take serving the real economy as the foundation of our career, anchor the requirements of high-quality economic development, and do five major articles on technology and finance, green finance, inclusive finance, pension finance and digital finance, so as to provide higher-quality, more efficient and safer financial services for the development of the real economy, and let the high-quality financial development lay a solid foundation and add vitality to China’s economic and social development.

　　Asked the car to issue a document, Popular Science AEB: Reject "invalid braking" and don’t fight meaningless arguments.

　　According to Sina Technology, during this period, the "AEB dispute" between Xpeng Motors CEO He Xiaopeng and Huawei Yu Chengdong has become heated. This morning, Xpeng Motors officially started the "popular science mode" directly, and in the evening, the "official popular science" from AITO car also came. The official of the car company said that under the blessing of Huawei ADS 2.0, the AEB of the car company "has its own discretion" and refuses "invalid braking", which has become a function respected by every car owner.

　　The ninth batch of 41 kinds of drugs successfully purchased by the state, and the average price of the selected drugs was reduced by 58%.

　　According to CCTV news, today (November 6), the ninth batch of centralized drug procurement organized by the state produced a quasi-winning result in Shanghai. 41 kinds of drugs were successfully purchased in this collection, and the average price of the drugs to be selected was reduced by 58%. It is estimated that the annual drug cost can be saved by 18.2 billion yuan. This collection covers infections, tumors, cardiovascular and cerebrovascular diseases, gastrointestinal diseases, mental diseases and other common and chronic diseases, as well as key drugs such as emergency rescue drugs and short-term drugs. Lenalidomide capsules for the treatment of multiple myeloma were collected in time after the patent expired in May, 2023. Each capsule (25mg) was reduced from 200 yuan to 15 yuan on average, which saved about 3880 yuan per month, and the burden on patients was obviously reduced. Rabeprazole oral sustained-release dosage form and esmomeprazole magnesium enteric-coated dry suspension for the treatment of gastrointestinal diseases have significantly reduced the prices of key drugs for rational drug use in three countries. Five kinds of short-term drugs and emergency drugs, such as amiodarone injection for arrhythmia, dopamine injection for shock rescue and oxytocin injection for induced labor, stabilize the enterprise’s expectation through "quantity" procurement, and realize the multi-objective balance of guaranteed supply and reasonable price reduction.

　　Central Bank: The work of reducing the interest rate of existing mortgage loans has been basically completed.

　　According to a document issued by the Monetary Policy Department of the People’s Bank of China on November 6, the work of reducing the interest rate of existing mortgage loans has been basically completed. The interest rate of existing mortgage loans exceeding 22 trillion yuan has been lowered, with an average decrease of 0.73 percentage point, benefiting more than 50 million households and 150 million people, and reducing the interest expenditure of borrowers by 160-170 billion yuan every year, with an average annual decrease of 3,200 yuan per household.

　　Vanke: Domestic and foreign debts will be guaranteed to be paid on schedule, and the capital situation will be ensured to be safe.

　　In the face of the recent irrational fluctuations in Vanke’s bonds, on November 6th, Vanke held a third-quarter performance briefing meeting with domestic and foreign financial institutions. Vanke said that domestic and foreign debts would be guaranteed to be paid as scheduled, and the market did not need to worry about it at all. Vanke’s management stressed that Vanke has always maintained a normal daily rolling cash flow management and stress test, which can know and control the capital situation in real time and ensure the company’s safety through pre-plans.

　　Shenzhen state-owned assets include Vanke in the scope of statistical statements, and its profits account for over 30% of Shenzhen state-owned assets.

　　Vanke held an exchange meeting with financial institutions. At the meeting, Ye Xinming, a member of the Party Committee of Shenzhen State-owned Assets Supervision and Administration Commission, said, "Vanke is an important member of Shenzhen State-owned Assets System. Shenzhen State-owned Assets has included Vanke in the scope of statistical statements. Vanke’s total assets, operating income and profits account for more than 30% of Shenzhen State-owned Assets. Vanke’s business development has a significant impact on Shenzhen State-owned Assets. At the same time, the State-owned Assets Supervision and Administration Commission of the Shenzhen Municipal Government trusts the management. As a native of Shenzhen, Vanke has a healthy corporate culture and has a correct judgment on the trend of the real estate industry. "

　　Shenzhen SASAC put forward specific measures to support Vanke: actively organize municipal state-owned enterprises to participate in bond subscription in a market-oriented way.

　　On November 6th, Vanke held an online meeting to exchange information with financial institutions on its operation and recent bond price fluctuations in the secondary market. At the meeting, the State-owned Assets Supervision and Administration Commission of Shenzhen not only expressed its support for Vanke, but also put forward specific support measures: under the principle of marketization and rule of law, use all possible means and ways to jointly deal with possible risks with Vanke, including but not limited to accelerating the development and construction of Vanke’s large-scale urban renewal projects through transferee and cooperative development; Improve the liquidity of all kinds of investment real estate held by Vanke through coordination and cooperation; Cooperate with Vanke to optimize the long-term equity investment structure; Actively organize municipal state-owned enterprises to participate in bond subscription in a market-oriented way; Actively coordinate various financial institutions to increase their support for Vanke’s financing.

　　Shenzhen State-owned Assets Supervision and Administration Commission: Vanke has sufficient security, which will help Vanke to actively respond in case of extreme circumstances.

　　According to The Paper, on November 6th, Vanke held an online meeting to exchange business information with financial institutions and recent bond price fluctuations in the secondary market. At the meeting site, the State-owned Assets Supervision and Administration Commission of Shenzhen stated that Vanke has sufficient security, no financial risks and management risks, and is an important member of Shenzhen’s state-owned assets system. If there is a need or extreme situation, we have full confidence, sufficient financial resources and tools to help Vanke actively respond through all possible market-oriented and legal means.

　　Regulate short-term health insurance business again: words such as "low premium" and "high guarantee" should not be used for improper publicity.

　　According to the Securities Times, on November 6, the regulatory authorities issued a document to insurance companies to remind them of the risks related to short-term health insurance products and further standardize the short-term health insurance business. It is required to clearly inform and prompt consumers about the deductible, liability, payment ratio, surrender agreement, premium payment method and other important contents of the product when selling. Words such as "the premium is as low as (minimum) X yuan", "from X yuan per month", "the guarantee is as high as (maximum) X million" and "from (minimum) to (maximum)" should not be used for improper publicity. For the business underwritten through the Internet, the insured will clearly inform him that the insurance process has been completed after completing the insurance process for a single product. Words such as "guarantee perfection", "product upgrade" and "guarantee promotion" should not be used to improperly guide the insured to carry out new insurance or preservation actions. It is not allowed to hide or hide the entrances such as surrender and security in disguised form by telephone call back or customer service follow-up, so as to ensure the smooth and barrier-free service process such as surrender. At the same time, the regulatory authorities suggest that if short-term health insurance products pay commissions and expenses based on the annual total premium, it is necessary to guard against arbitrage risks caused by the high surrender rate of business.

　　Chen Shaojie, the 39-year-old CEO of Betta, lost contact last month. Insiders of Betta: The company is operating normally and has not been affected.

　　A number of people familiar with the matter confirmed to reporters that Chen Shaojie had lost contact in October. As for the reason of losing contact, it is rumored in the industry that Chen Shaojie’s loss of contact may be related to the "Changsha Rural Death Squad" in the previous live broadcast of fighting fish. An insider of Betta told reporters that at present, the company’s operations are all normal and have not been affected. Earlier on October 13th, the official "Legal Compliance Department of Social Products" issued a document saying that recently, the person in charge of a large-scale live broadcast platform was arrested by an organ in Sichuan for allegedly opening a casino, which triggered many speculations. On November 6th, the reporter called the person in charge of WeChat official account and the team of Kenting Law Firm. The other party said that the pushed article was not directly related to the loss of the CEO Chen Shaojie of Betta, and the article has been deleted. (The Paper)

　　Central Bank: Continue to improve the marketization of mortgage interest rate to better support rigid and improved housing demand.

　　The Monetary Policy Department of the People’s Bank of China published a column entitled "Continuously Deepening the Reform of Interest Rate Marketization". Among them, it is proposed to continuously improve the marketization of mortgage interest rates and better support rigid and improved housing demand. Resolutely implement the requirements of promoting a virtuous circle of finance and real estate, continuously improve the differentiated housing credit policy, give play to the role of the dynamic adjustment mechanism of the new first home loan interest rate policy, continue to expand the independent pricing space of mortgage interest rates in an orderly manner, and support the city government to make good use of the policy toolbox for the city. Insist on promoting the development of financial innovation on the track of marketization and rule of law, urge financial institutions to continue to implement the effect of reducing the interest rate of stock mortgage, straighten out the relationship between incremental and stock mortgage interest rates, reduce the interest burden of residents, and support investment and consumption.

　　ASML, a giant in mask aligner, the Netherlands: He is very optimistic about the business in China next year.

　　In an exclusive interview during his stay in China International Import Expo(CIIE), Shen Bo, global senior vice president of Dutch mask aligner giant ASML and president of China, said that the business in China, ASML has grown rapidly this year. It is expected that China will account for more than 20% of ASML’s global revenue in the whole year, and he is also very optimistic about his business in China next year. Shen Bo said: "We recruited more than 200 people in China in 2023. In 2024, we expect that the business development will continue to bring a lot of demand, and the expansion of our team should be a relatively large scale." (China Daily)

　　HarmonyOS Zhixing released the new product of Zhijie S7 on November 9, and opened the pre-sale on the same day.

　　According to HarmonyOS Zhixing official micro-news, the HarmonyOS Smart Car Technology Ecological Alliance gathered momentum on November 9. HarmonyOS Zhixing’s first high-energy smart car, Zhijie S7, will be pre-sold on the same day.

　　Shanghai take-out medicine pilot medical insurance payment

　　According to The Paper, Shanghai take-out medicine can be paid by medical insurance. On November 6th, the reporter learned from people familiar with the matter that the relevant departments in Shanghai have contacted Hungry and Meituan platform to pilot the payment of medical insurance for Internet pharmacies, and dozens of pharmacies have been included.

　　He Lifeng will visit the United States

　　According to the website of the Ministry of Foreign Affairs, Foreign Ministry Spokesperson Wang Wenbin announced that at the invitation of US Treasury Secretary Yellen, He Lifeng, member of the Political Bureau of the Communist Party of China (CPC) Central Committee, Vice Premier the State Council and Chinese leader of China-US economic and trade relations, will visit the United States from November 8 to 12.

　　He Lifeng has served as director of the Office of the Central Financial Committee and secretary of the Central Financial Work Committee.

　　According to the Financial Times reported on November 6th, on November 3rd, the Central Financial Work Committee held a meeting to convey the spirit of studying the Central Financial Work Conference. He Lifeng, director of the Office of the Central Financial Committee and secretary of the Central Financial Work Committee, attended the meeting and delivered a speech, stressing that studying and implementing the spirit of the Central Financial Work Conference is the most important political task in the financial system at present, and the leading comrades of party committees (party groups) of financial institutions should take the lead in learning, preaching and implementing it, so as to drive the whole system to go deep and practical in implementing the spirit of the conference. According to the above report, He Lifeng has served as the director of the Office of the Central Financial Committee and the secretary of the Central Financial Work Committee.

　　[Important Announcement]

　　[Institutional point of view]

　　[A little knowledge every day]

【TechWeb】Just now, the new M5 in Wenjie opened the booking channel, and can enjoy the discount of 2,000 yuan deposit and 5,000 yuan car purchase. Yu Chengdong said in Weibo: The Wujie M5 Intelligent Driving Edition released a year ago is the first vehicle equipped with Huawei Advanced Intelligent Driving ADS 2.0, which opened a new track for advanced intelligent driving. On April 23rd, the new M5 will bring a comprehensive upgrade, bringing consumers a brand-new experience of "super beautiful, super easy to open, super smart and super safe".

The new M5 has made some adjustments in design, including a bright red appearance, a blackened logo and a sports kit, and blackened double five sports wheels with red sports calipers to enhance the sporty atmosphere.

The 2024 M5 adopts a closed front face design, which cancels the original large-size banner air intake grille and only retains the lower air intake, making the front face look fuller. At present, the official has not released the interior and power information of the new M5, but it is expected to further increase the interior space, and may be equipped with Huawei Vision Intelligent Driving HUAWEI ADS Basic Edition.

Although the official has not released the configuration information of the new car, it is reported that the new M5 may adopt the strategy of "increasing the allocation and reducing the price", and the estimated price will be in the range of 230,000-250,000 yuan to enhance its competitiveness. The new M5 is expected to become a strong competitor of Xiaomi SU7, especially in the case of a new upgrade in face value and configuration.

The release of the new M5 is highly anticipated, which may bring new highlights and surprises in design, configuration and price. For consumers who are concerned about new energy vehicles, the listing of the new M5 is undoubtedly an event worthy of attention. The new M5 will be officially unveiled at the Beijing Auto Show on April 23rd, when more detailed information about the vehicle will be provided. （Suky）

The following article comes from Red Star Capital Bureau, and the author is Qiang Yaxi.

Hongxing Capital Bureau.

Truth creates value.

The Red Star Capital Bureau reported on May 14th that there was a rumor recently that "Xiaomi Wuhan Headquarters announced that it would lay off 90% of its employees over the age of 35". In response, Wang Hua, general manager of the public relations department of Xiaomi Group (01810.HK), responded through Weibo, calling the information a rumor.

The Red Star Capital Bureau noticed that on social platforms such as Weibo, some netizens posted: "The second headquarters of a certain meter in Wuhan officially announced that 90% of employees over 35 years old will be laid off." This statement caused heated public opinion, and some netizens speculated that it was Xiaomi Group that was mentioned in the article.

The picture is from the Weibo platform.

Regarding the above rumors, at noon on May 14th, Wang Hua, general manager of Xiaomi Group’s public relations department, responded to the matter through Weibo. He said that last night, information about employees over the age of 35 in our Wuhan headquarters only kept 10% appeared on social media platforms, which were all rumors after investigation. Now the legal department of the company has obtained relevant information and reported it to the relevant departments.

The picture is from the Weibo platform.

According to public information, Xiaomi currently has two headquarters in Beijing and Wuhan, and its Wuhan headquarters is located in Optics Valley, with a total construction area of about 52,000 square meters and a total investment of 340 million yuan.

In November 2017, Xiaomi Group, Jinshan Software and Shunwei Capital announced that they would settle their second headquarters in Wuhan, which was officially opened in December 2019.

source map

According to Chutian Metropolis Daily, at the opening ceremony in December 2019, Liu Guojun, general manager of Xiaomi Wuhan Headquarters, said that Wuhan Headquarters will be the new home of employees of Xiaomi, Jinshan and Shunwei Capital engaged in core businesses such as AIoT, big data, cloud services, e-commerce, new retail, office software, overseas R&D and financial investment. Lei Jun, chairman of Xiaomi Group, said that in the next decade, he hopes to build Wuhan into a super-large R&D headquarters of Xiaomi and a technical highland in the era of artificial intelligence. His goal for Wuhan headquarters is to accommodate 10,000 employees in the future.

Previously, Xiaomi Group released the annual performance announcement for 2022. In 2022, the total revenue was 280 billion yuan, down 14.7% year-on-year, and the adjusted net profit was 8.5 billion yuan, down 61.4% year-on-year. Its smartphone business, which accounts for half of the company’s total revenue in 2022, was 167.2 billion yuan, down 19.9% year-on-year, accounting for 59.7% of the total revenue.

Chengdu Business Daily-Red Star Journalist Qiang Yaxi

Original title: "Xiaomi responds! 》

Read the original text

On March 21, Geely Automobile released its 2022 performance report, showing that the company realized revenue of 148 billion yuan, up 45.6% year-on-year, a record high; The net profit of returning to the mother was 5.26 billion yuan, an increase of 8.5% year-on-year; Affected by the price increase of raw materials and the increase in the proportion of new energy, the overall gross profit margin fell to 14.1%, but the average single gross profit increased by 11.1% to 17,500 yuan; Profits from technology and authorized services continued to grow steadily, up 29.9% year-on-year; Jizhi auto finance profit increased by 15.3% year-on-year.

In 2022, Geely Automobile increased its investment in intelligent electrification research and development, with the investment increasing by 51.2% to 8.4 billion yuan compared with the same period of last year; Strong financial position, operating cash flow increased by 4% to 16 billion yuan; The total cash level rose by 20.4% to 33.7 billion yuan.

Behind the sound financial performance, it is inseparable from the support of new car sales that have achieved growth in adversity. In 2022, the total sales volume of Geely Automobile reached 1.433 million vehicles, up about 8% year-on-year, outperforming the domestic automobile market, and its production and sales exceeded one million vehicles for six consecutive years.

Among them, Geely Automobile’s new energy sector has a bright market performance and has become a new driving force for the company’s growth. In 2022, the sales volume of Geely Automobile’s new energy products was 328,700, and the penetration rate of new energy in a single month exceeded 30% for many times, which doubled compared with the same period of last year. In 2023, Geely Automobile set the sales target at 1.65 million vehicles, an increase of about 220,000 vehicles over the previous year, of which the sales of new energy doubled compared with 2022.

While the sales volume is rising rapidly, Geely Automobile is accelerating the goal of sustained upward brand value. Take Extreme Krypton, a luxury intelligent pure electric brand, as an example. In 2022, Extreme Krypton delivered 71,900 vehicles throughout the year, exceeding the annual target. Among them, Extreme Krypton 001 is the only China brand luxury pure electric vehicle among ten thousand clubs in the luxury car market, with an average order amount exceeding 336,000 yuan, and it continues to be the sales champion of China brand pure electric vehicle with more than 300,000 yuan. The second model, the original pure electric luxury MPV— — The delivery of Krypton 009 was started in January 2023, and the average order amount exceeded 520,000 yuan.

In fact, with the gradual deepening of electrification and intelligence in the automobile industry, the domestic high-end new energy market has huge room for growth, and it has also become a great opportunity for major independent brands to rise upwards. According to the prediction of Zhang Yongwei, vice chairman and secretary general of China electric vehicle committee of 100, in 2023, the production and sales of China new energy vehicle market is expected to increase by 40% year-on-year, and the penetration rate is close to 40%, and the overall scale is expected to reach 10 million vehicles. Combined with the analysis of factors such as vehicle supply and vehicle life cycle cost, it is expected that the penetration of high-end new energy vehicles will accelerate this year, and the sales structure of new energy vehicles will continue to be optimized from dumbbell to spindle.

In this context, Geely Automobile is actively improving the product layout in the middle and high-end market segments. In February this year, Geely Automobile officially released a brand-new high-end new energy series — — "Geely Yinhe", the first smart electric hybrid SUV, Geely Yinhe L7 officially opened the reservation and will be delivered in the second quarter of this year. In addition, Geely has also released new energy electrification technologies such as Aegis battery safety system, Raytheon Hybrid 8848, and the brand-new car operating system "Yinhe NOS", which will be installed on the Geely Yinhe L7 model for the first time.

Soochow securities released a research report saying that the layout of "Geely Galaxy High-end Sequence+Low-end Geometry+High-end Krypton" is full-priced, the launch of "Geometry+Krypton" new car, the new release of Galaxy subsequence, the two-way power of EV+PHEV, and the blessing of Raytheon hybrid technology will help Geely Automobile to accelerate its transformation to new energy sources.

Over the years, Geely Automobile has insisted on independent innovation, increased R&D investment and achieved remarkable results. It not only leads domestic counterparts, but also successfully exports advanced technology to overseas markets. Now, the income from technology and authorized services has become another bright spot of Geely Automobile’s profit growth.

In 2022, Geely Automobile Technology and Authorized Services achieved a total revenue of 1.66 billion yuan, a year-on-year increase of 29.9%.

Specifically, with Proton Automobile and Geely Automobile entering the seventh year hand in hand, Geely strategically exported a variety of products and engine technologies to help Proton achieve sales growth and make efforts in overseas markets. In 2022, Proton Motor’s performance increased for the fourth consecutive year, with a total sales volume of 141,400 vehicles, accounting for about 19.6% of the market. It was the only company in Malaysia’s automobile industry that achieved performance growth from 2019 to 2022. At the same time, Proton Motor’s sales in the international market increased to 5,406 vehicles in 2022, a year-on-year increase of 79.1%, making it an export leader in the industry.

Not only that, Geely Automobile’s technical empowerment has also penetrated into the developed countries of automobile industry for the first time. In May last year, Geely Automobile invested in Renault Korea Automobile, and will launch efficient and energy-saving fuel and smart hybrid vehicles in the Korean market. The new product adopts the world-class CMA modular architecture developed by Geely’s R&D center in Sweden, and uses the advanced hybrid technology of Geely Holding Group to provide users with an experience beyond expectations.

Behind Geely Automobile’s achievements, it is inseparable from the support and empowerment of Geely Holding Group.

"In the past two or three years, the financial position of Geely Holding is very good. Geely Holding has always maintained a fully supportive attitude towards the development of Geely Automobile and continued to help the development of listed companies. In the future, under the premise of complying with regulatory rules and marketization principles, the assets cultivated by Geely Holding are also open to listed companies. " Li Donghui, CEO of Geely Holding Group, Vice Chairman and Executive Director of Geely Automobile Holdings Limited, said.

In recent years, Geely Holding Group has made full progress towards technological transformation, making cross-border innovations in the fields of new energy technology, intelligent driving, three-electricity, on-board chips, operating systems, low-orbit satellites, etc., building the full-stack self-research ecosystem capacity around core technologies and accelerating the formation of a moat.

According to industry analysis, Geely Holding Group has laid out a series of front-end technologies, which has promoted the core competitiveness of enterprises and continuously released the ecological value of science and technology, thus continuing to empower Geely Automobile, bringing users a product experience that exceeds expectations and creating long-term returns for investors.

Focusing on building cars is not limited to cars. Under the guidance of Geely Holding Group, Geely Automobile’s accelerated transformation to intelligent technology companies has achieved initial results. Geely Automobile actively lays out the entire industrial chain of smart electric vehicles, realizes software-defined vehicles, tamps down core technologies, and develops the hard-core "technology ecology" of Geely Holding Group, promoting the rapid landing of the "Smart Geely 2025" strategy, and enabling Geely’s technology ecology to travel in the future.

Yan Jiayue, CEO of Geely Automobile Group, revealed that in the field of intelligent driving, the "Heaven and Earth Integration" version of Galaxy Intelligent Driving Scheme based on Geely Satellite will be launched soon. Geely’s self-developed centimeter-level satellite high-precision positioning module has passed the certification of vehicle regulations, and can realize real-time accurate positioning by integrating Geely satellite communication, navigation and remote sensing technologies.

In addition, the first "cloud, number and intelligence" integrated super cloud computing platform for global car companies — — Geely Star Smart Computing Center was officially launched, with a cloud computing power of 8.1 billion times per second, which can improve the overall research and development efficiency of Geely by 20%. The official launch of the Geely Star Smart Computing Center marks that Geely has entered the "smart computing era" of building cars and achieved the leading intergenerational advantage in the smart computing industry.

In the future, Geely will persist in scientific and technological innovation, continue to promote new energy technologies, and strengthen scientific and technological ecology to empower smart driving and smart travel; Deepen international business, speed up resource coordination, and lay a more solid foundation for the sustainable development of Geely Automobile.

(This article does not constitute any investment advice, and the information disclosure content shall be subject to the company announcement. Investors operate accordingly at their own risk. )

Text/Jiangnan

　　Beijing, July 16th (Yuan Xiuyue, Wang Xinyue), the client of Zhongxin. com, is different from last year’s summer file explosions, and the biggest winner of this year’s summer file will be animated movies. The reporter combed and found that this summer’s summer file gathered more than 20 animated films at home and abroad. At present, half of the top ten films at the box office are animated films.

　　Then, under the encirclement of Spirited Away’s overseas animation such as The Lion King, Pet Secret 2 and Toy Story 4, can domestic animation stand out from the encirclement?

　　The Lion King broke 400 million at the box office.

　　The recent movie box office may explain the truth that there are still a few people who will pay for their feelings. Miyazaki Hayao’s Spirited Away was re-released in less than a month, with a box office of nearly 500 million. The live-action version of "The Lion King" was released for 5 days, and the box office exceeded 400 million. According to the forecast of Cat’s Eye Movie Professional Edition, the final box office of The Lion King may be nearly 1 billion.

　　If Spirited Away’s box office is that the audience "makes up for the movie tickets that have been owed for many years", then The Lion King is a reconstruction of memories.

　　The plot and music have not changed, but as Disney’s biggest emotional card, The Lion King has attracted many people to revisit it.

　　Some people also commented that the short board of the live-action version just can’t be as unconstrained and imaginative as animation. It is also considered that the performance of fake animals is not rich enough, "facial paralysis." Some people make fun of it, and Zhao Zhongxiang’s dubbing is the "animal world".

　　At present, the douban score of the live-action version of The Lion King is 7.5, which is much worse than the animated version of 9.0. However, it is not bad among several Disney animated films imported from China, second only to Fantasy Forest and Aladdin (7.8 points).

　　After the Spring Festival in 2019, a Disney animated film will be released every other month. From Dumbo in March to Aladdin in May to The Lion King in July, there is the official Little Mermaid by Mulan. Disney’s plan to shoot a live-action version is in full swing, but at present, it seems that relying on IP is not easy.

　　Two Hollywood classic IPS are both cold.

　　Another recent American animated film, Pet Secret 2, is no better than its predecessor, with a box office of only 70 million yuan in the first week and only 130 million yuan at present.

　　In 2016, this film, created by the original cast of Despicable Me, won 389 million box office in China, and also won the most profitable movie in Hollywood that year. It tells the story of pets fighting with each other when their owners are not at home.

　　As a film that focuses on "selling cute", the narrative line of "Pet Secret 2" is more complicated, but it is not lacking in entertainment. Many people evaluate it as cute and interesting. However, some people think that the plot is young and old-fashioned, and it is not as good as the first one.

　　It is not easy to "sell cute", and it is even harder to sell new ideas. When The Secret Life of Pets was released, some people once called it an animal version of Toy Story. This summer, the results of Toy Story 4 were not satisfactory.

　　As a sequel, Toy Story 4 was produced with great care. It regrouped classic dubbing lineups such as Tom Hanks and tim allen, and 100,000 people scored 8.8 points in Douban. Some people commented that Toy Story 4 drew a satisfactory conclusion for this series.

　　However, unlike the popularity of the North American market, the film earned only 199 million yuan at the domestic box office. Some people think that this is because the release schedule hit Spirited Away. Some experts also commented that the series of movies are easy to make the audience feel aesthetic fatigue.

　　The two Hollywood classic IPS are both cold. It seems that it is no longer tried and tested to "lean on" IP and "hold" the box office.

　　Nezha vs. Full-time Master

　　In the summer of 2015, "The Return of the Great Sage of Journey to the West" emerged as a dark horse, relying on the word-of-mouth fermentation of "tap water" and made a box office of 956 million. Some people called it a phenomenal work of domestic animation in the past 10 years.

　　More importantly, it broke the stereotype of domestic animation "being young". After that, some good works appeared in domestic animation, such as Big Fish Begonia, Great Protector, White Snake Origin and so on, but none of them can become phenomenal works.

　　Recently, several domestic animation "Seed Players" will be released soon, including Ne Zha’s "The Peak Glory of Full-time Masters", "Future Machine City" and "The Battle of Luo Xiaohei".

　　Similar to The Return of the Great Sage, Ne Zha also draws on the traditional stories of China. However, its adaptation is bolder. Nezha Jr. wears dark circles and has a perverse image.

　　In the movie, Nezha is not a young hero, but "born as a demon", but has a heart to be a hero. Only by struggling with fate can you become a hero. Jiaozi, the director, once said that the theme of the film is "Breaking stereotypes and reversing fate". Recently, the film opened the first round of screening, almost full, and won a lot of praise.

　　Its most direct competitor is The Peak Glory of Full-time Masters, which is adapted from Internet IP. The film tells the story of Ye Xiu, a professional e-sports player with a great god level, leading the team to overcome difficulties and reach the peak of glory.

　　Although it is not as popular as Nezha’s "national IP", there are novels and cartoons ahead, and more than 160,000 people still mark them as "want to read".

　　It is worth mentioning that there will be fresh faces in the summer file, such as Future Machine City, which was bought by Netflix for overseas distribution rights, and the big movie Luo Xiaohei, a high-scoring animated short film.

　　Japanese national IP accompanies China animation market.

　　In recent years, Japanese animated films have been in a state of accompanying running in China. Except for "Your Name" in Makoto Shinkai, which has a box office of 570 million, and nearly 500 million in Spirited Away, the rest are carnivals of a few people in China, which failed to continue its box office miracle in Japan.

　　The Night of Destiny — — The Cup of Heaven II: Butterfly of Destiny was released for 5 days, with a box office of over 25 million and a douban score of 7.9. The film is based on the third story line in the Japanese adventure game Night of Destiny, which is called the top IP of ACG (animation) circle.

　　However, some people have commented that this film is very unfriendly to ordinary audiences. If you don’t understand the world view and story line of this series, I’m afraid you won’t understand it.

　　Another Japanese "God-class" IP "Game Life Zero" will soon be released in China. The film is adapted from the light novel of the same name written by Mimiya You. It tells the story that six thousand years ago, for the hope of human survival, Hubby, a girl from Kikai, joined hands with human leader Ke to launch the battle of "love". As early as two years ago, the film was released in Japan and performed well at the box office.

　　In addition, cartoons for young children are still an indispensable part of the summer file, and "Sail 7: Crazy Machine City" and "GG Bond: The Incredible World" all arrive as scheduled. Last year, the movie "Sail 6" exceeded 100 million at the box office, and "GG Bond: The Incredible World" was recently released, with a box office of 30 million. (End)

Dutch brother, Jake Gyllenhaal and Jacob Bartrand laughed heartily.

The main creative team of the film Spider-Man: Heroic Expedition, jointly produced by American Columbia Pictures and Marvel Pictures, recently appeared at CCXP in Sao Paulo, Brazil. Actors Tom Holland, Jake Gyllenhaal and Jacob Bartrand attended the event. There was not only close interaction between the main creator and the fans, but also a number of movie materials were released. The new version of Spider-Man’s battle dress was cool and exquisite, and the first trailer was full of material. During the trip to Brazil, the filmmakers were full of sincerity.

Dutch brother, Jake Gyllenhaal and Jacob Bartrand danced live.

Spider-Man’s surprise at the comic exhibition continued, and Dutch brother’s impromptu dance smashed the audience.

The movie Spider-Man: Heroic Expedition recently appeared in the Comic-Con in Sao Paulo, Brazil. This time, the official sent three important roles-Tom Holland, the new version of Spider-Man, Jake Gyllenhaal, the secret guest, and Jacob Bartrand, Spider-Man’s friend Ned. The three leading actors interacted closely with fans at the press conference, and performed an impromptu dance with the famous song September by the famous band Earth, wind&fire, and the atmosphere was instantly ignited.

It is worth mentioning that Tom Holland released a selfie video during the exhibition. At the end of the video, he actually caught Jake Gyllenhaal practicing Spider-Man’s spinning, as if he was playing a spider but was discovered by the owner. Tom froze for a few seconds, then smiled smugly, while Jake Gyllenhaal on the other side closed the door awkwardly. Jake Gyllenhaal is a well-known movie star in Hollywood. He has starred in many blockbusters, including Brokeback Mountain and Source Code. In Spider-Man: Heroic Expedition, he will play the mysterious guest in Spider-Man’s sworn enemy "The Evil Six".

Spider-Man new battle suit

Heavy notice, on-site release of new battle clothes, surprise appearance

In addition to the interaction of the creative team, the film also released two new versions of Spider-Man battle clothes. The first edition is a classic red and blue color matching suit, which is more refined and slim than the first one, and the color tone is darker than the original one, which looks more mature. The other version of the black suit, known as the "stealth suit", is dark and equipped with a pair of special glasses. The most surprising thing is that the suit is wearing a S.H.I.E.L.D. badge, and the identity of Spider in the second part is expected.

In addition to two new battle suits, the first trailer carried a lot of shocking materials and was released. In the trailer, Spider and his classmates came to Europe to play along the Venice Canal. However, the good times did not last long. European cities were suddenly attacked, and Spider-Man stepped forward again. The live fans responded enthusiastically after watching it. It is reported that the new version of the preview will be released globally next week, and the mystery of Spider-Man: Heroic Expedition will be officially unveiled.

Dutch brother and Jacob Bartrand made a surprise appearance.

Spider-Man: The Heroic Expedition is directed by Jon Watts and co-starred by Tom Holland (Spider-Man: The Return of Heroes, Captain America: Civil War), michael keaton (Focus, Bird Man), Jake Gyllenhaal (Source Code, Brokeback Mountain), samuel jackson (Pulp Fiction, Inglourious Basterds) and Zandaya. The film will be held on July 5, 2019.

After the vibrato burst into flames, the importance of the video number of WeChat in the interior also soared, asking for money, giving money and resources to resources. But up to today, there is still a big gap between the two: it is estimated that the gap between the video number and Tik Tok is between 3.3 times and 6.6 times. The second half of Touteng War will still be very exciting, please move the small bench ~

There is no doubt that video number, as a rising star, has already become one of the top three short video tracks in China after several years of catching up.

However, it is difficult for the industry to give a comprehensive and accurate data on how far the video number has developed and how far it is from Tik Tok.

The direct reason behind this is that WeChat is only a business group of Tencent, a listed company, and the video number is only a sub-product of WeChat, so there is no obligation to publicly disclose detailed data in the financial report. In addition, unlike independent apps, video is only a function of WeChat, which also makes it more difficult for third-party data monitoring.

Similarly, as the leader of short video industry, Tik Tok is also a non-listed company at present, so it is difficult for us to see the whole picture of Tik Tok data.

However, this does not mean that the video number and Tik Tok are completely two data black boxes. We can still make reasonable guesses from the limited public data at present, and then draw some meaningful conclusions-

In the business world, absolute data is important, while at other times, relative data is just as important or even more important.

Let’s take a look at two important absolute data of the video number-according to Tencent’s financial report and conference call, the advertising revenue of the video number Q2 in 2023 is 3 billion, and at the same time, the current advertising adsload of the video number is less than 3%.

Let’s look at some data from Tik Tok-

According to The Information, ByteDance’s Q2 revenue in 2023 was $29 billion, of which 20% came from overseas.

I think this data is relatively credible. On the one hand, The Information has disclosed the revenue of Byte many times before, including the revenue of Byte China of $69 billion last year, etc. These data are basically recognized and quoted by the industry.

On the other hand, if the data gap is large or untrue, bytes will jump out to refute or clarify. (For example, regarding the data of e-commerce GMV in 2022, bytes have been specifically denied. )

OK, based on the above data, we can actually make some relatively reasonable calculations-

Byte Q2 earned $29 billion, 20% of which came from overseas, that is, 80% came from China, and the domestic income was $23.2 billion.

Note: This $23.2 billion does not mean that it is all advertising revenue from Tik Tok. Only Tik Tok, a single product, also involves live broadcast revenue and e-commerce fee income (different from e-commerce advertising revenue).

In addition, Byte also has the income from a series of other businesses, such as today’s headlines, car owners, watermelon videos, tomato novels, flying books, games, Volcano Engine and so on. (You know, in 2017, when Tik Tok was just born, today’s headline income was as high as 15 billion)

So what is the proportion of advertising revenue in Tik Tok’s total domestic revenue?

This is a mysterious data, but fortunately, we also have some reference objects. Let’s take a look at the income composition of Aauto Quicker, a short video track listed company.

According to Aauto Quicker’s Q2 financial report this year, in Aauto Quicker’s income structure, advertising revenue accounts for 52.5%, live broadcast revenue accounts for 34.7%, and other income (including e-commerce) accounts for 12.6%;

Of course, we can’t directly use the proportion data of Aauto Quicker, because there is still a big difference between Tik Tok and Aauto Quicker.

Compared with Aauto Quicker, which started with the realization of live broadcast, Byte has been engaged in advertising business since 2013, and has formed a set of extremely strong tactics in advertising algorithm, product, operation and sales, so the proportion of natural advertising revenue will be higher. After all, live broadcast and e-commerce are the businesses that come later. (Although the fast-growing e-commerce GMV has surpassed Aauto Quicker)

I take Aauto Quicker as an example to illustrate that the revenue of Bytes is not all from advertising in Tik Tok. Compared with the early advertising revenue in ByteDance, which accounted for more than 90%, the proportion of advertising has dropped significantly now.

Therefore, when we estimate the advertising revenue, we need to make a discount. Considering the advantages of Byte in advertising and the existence of other huge business lines, we roughly give this discount a 60% discount.

At this time, we can calculate the income of Tik Tok’s advertising business-29 billion * 80% * 60% = 13.9 billion US dollars, or 99.5 billion RMB.

The reason why we have to calculate the advertising revenue of Tik Tok is because we have to compare it horizontally with the advertising revenue of the video number in the same period-

The revenue of video number Q2 this year is 3 billion, and the estimated revenue of Tik Tok Q2 advertising this year is 99.5 billion, which is 33 times.

Does this mean that the gap between video number and Tik Tok in user data is 33 times?

Of course not. We also have to consider two factors: the advertisement loading rate Adsload and the advertisement unit price ECPM.

Obviously, there are many advertisements in Tik Tok, but there are few advertisements for video numbers. According to the data disclosed by Tencent at present, the adsload of video numbers is less than 3%.

So, what is the advertising Adsload in Tik Tok?

This is also a mysterious data.

But we can still reasonably guess—

James Mitchell, chief strategy officer of Tencent, said: the competitor’s adsload exceeds 10%, and this competitor naturally includes Tik Tok;

According to a research report of Huachuang Securities, Tik Tok’s Adsload in 2019 has exceeded 12%;

In addition, according to the daily sense of body, it is very common for Tik Tok to insert five videos into one advertisement, which does not include the content-heated advertising product of Dou+ without advertising logo, and it is already 20% for five videos to insert one advertisement.

In fact, the advertisement Adsload of a product itself is not static, and it will be dynamically adjusted according to many factors such as supply and demand, time nodes and so on.

Based on the above data and some three-party calculations in the industry, we take Tik Tok’s Adsload as 15%;

At this time, we can work out the difference of the service volume of the video number on the user side, that is, the volume relationship between them needs to be divided by the multiple of their Adsload on the basis of the revenue multiple, that is, the above 33 times need to be divided by 5, which equals 6.6 times, that is, the current broadcast volume of the video number has a greater probability of being 6.6 times that of Tik Tok.

Of course, strictly speaking, this caliber is not entirely the amount of play, which can be roughly understood as the number of times the video information stream is refreshed, that is, the space for inserting advertisements.

Compared with the fuzzy process indicators such as daily activity, duration and duration of a single video, the total broadcast volume directly calculated above is obviously more meaningful. After all, the process indicators ultimately serve the result indicators.

It must be noted that our calculation is still rough, because there is a hidden assumption-the advertising unit price ECPM of video number and Tik Tok is the same;

This assumption and premise itself also have enough room for discussion-

In essence, ECPM reflects the efficiency of advertising.

In fact, the competition between Byte’s huge engine and Tencent’s advertisement in the whole advertising market is an extremely wonderful comprehensive combat of China Internet.

In the past few years, the two have competed in technology, products, operation, market, sales and ecology, and the two sides have come back and forth in the constant game;

Objectively speaking, after a long-term struggle, Tencent’s technical level, professionalism and comprehensive strength have reached the level of the first echelon in the Internet advertising industry, not only at home but also at the international level.

Of course, the overall efficiency of Byte advertising system is one of the best at present because of its relative advantages in algorithm and crowd level objectively. Many advertising agencies told me that in most cases, the ECPM of effect advertising Tik Tok is indeed higher than other advertising platforms.

I heard an unconfirmed data in the industry is that the advertising ECPM in Tik Tok is twice as high as that in Aauto Quicker. (Again, this data is unconfirmed)

I have every reason to believe that Tencent’s advertising, which has been deeply rooted in efficiency for a long time, will not have a gap of twice as large as that of Tik Tok. If we take twice as the lower limit, the ECPM of the two will be equal and twice.

Then according to the above calculation, the most important conclusion of this paper comes-The difference between the video number and Tik Tok is estimated to be between 3.3 times and 6.6 times.

OK, so the question is coming-how about the video number?

In my opinion, this is undoubtedly an excellent performance.

You know, according to Tencent’s latest financial report, the number of Q3 video numbers has surged by 50% this year, while the total duration of Q2 video numbers has nearly doubled this year.

That is to say, the video number is still growing at a high speed, which means that the gap of 3.3-6.6 times will continue to narrow in the context of the objective slowdown of Tik Tok’s growth momentum.

As a late-developing product, as the only remaining fruit after Tencent’s various short video products held high and played high, and as the "hope of the whole village", the video number achieved this order of magnitude in less than four years under the difficult background that the industry generally believed that the pattern had been set, and abruptly completed the task of playing the short video table.

Zhang Xiaolong and his WeChat team once again proved their strong strength as a latecomer, and the depth of Tencent’s bench was also vividly displayed in this campaign.

Going to the table doesn’t mean you can sit back and relax. Sustainable growth is the eternal theme of this infinite game. How will the video number cope with the competition at the table?

I noticed that in the conference call of Tencent Q3, Tencent talked about the following four logics when explaining the future potential of video number-

1. Growth of traffic:This means that the data on the user side is still growing. According to the financial report, the total duration of Q2 video number nearly doubled year-on-year, and the number of Q3 plays increased by 50% year-on-year.
2. Promotion of advertising Adsload;This means that the current Adsload of video number is indeed lower than that of competitors;
3. The increase of click-through rate of AI-blessed advertisements;This means that the big model is used in advertising algorithms. For example, Tencent’s mixed-element big model was originally built for advertising.
4. Closed-loop opportunities:This refers to the internal circulation growth space including enterprise WeChat, applet, payment and e-commerce.

From a logical point of view, there is nothing wrong with these four angles, but what I want to say is that there is actually a big logic in the opposite direction behind these four small logics, that is, the overall scale of Internet advertising-

According to Questmobile’s data, the total scale of domestic Internet advertising market will increase by 4% in 2022, and only by 2.3% in Q1 2023.

In view of the current economic situation, the Internet advertising market has objectively bid farewell to high-speed growth, and will enter the new normal of micro-growth.

At the same time, the substitution effect of short video advertisements preempting other types of advertisements is also disappearing. According to Questmobile’s data, the market share of short video advertisements has stabilized in the past year.

Under this premise, the increase of user-side growth, Adsload, click-through rate and closed loop mentioned by Tencent will certainly increase advertising revenue, but the increase of total supply and the constant total demand mean that this increase ratio will be discounted.

Simply put, your advertising volume will increase by 50%, and your advertising revenue will inevitably not increase by 50%, which is an important supplementary factor that restricts the imagination of video number revenue.

Indeed, personal struggle is very important, but we must also take into account the historical process.

Therefore, for the video number, the internal circulation revenue it emphasizes becomes quite important. The strong rise of e-commerce in Tik Tok and the simultaneous surge of advertising revenue fully prove the strategic significance of internal circulation.

In essence, the core of doing closed-loop e-commerce lies in two points-

The first is that the complete data link based on transaction brings efficiency improvement, that is, its advertisement is more accurate, and it knows what characteristics those people who place orders have;

Second, the extension of the value chain, including performance, makes it possible for the platform to collect taxes, and merchants are willing to contribute fees to the closed loop.

Obviously, Tencent is also greedy for the business increment brought by the closed loop. A new formulation of this financial report is "Pan-internal circulation advertising revenue linking WeChat applets, video numbers, WeChat official account and corporate WeChat landing pages", which increased by 30% year-on-year.

However, this is a difficult challenge for the video number, which is genetic in a sense-

The WeChat team is famous for its elitism within Tencent, and its prominent feature is its high human efficiency. It has been committed to doing things with fewer and more efficient people. For example, the team members of WeChat Pay are much smaller than Alipay in scale.

One of the drawbacks of elitism and focusing on human efficiency is that the WeChat team has not done dirty work.

In the past, the typical style of play was that Zhang Xiaolong launched a small team, made hard efforts and thought clearly from the top-level architecture and product mechanism, and used the super base of social interaction to pry a business sector, such as WeChat payment, applet and video number.

However, the internal circulation like e-commerce is very heavy, its chain is very long, there are many aspects of performance, the cost is extremely high, and the information flow, logistics and capital flow are intertwined and complicated, so it is difficult to solve the battle only by relying on the top-level design at the product level or the strategic level.

In a word, the video number is doing dirty work such as e-commerce and local life, and the long-term product leverage of the WeChat team will be discounted.

To get rid of this hard bone, WeChat must really sink, take the initiative to do some hard work that it didn’t want to do before, and change the tactics of promoting business based on products and strategies that have always been advantageous in the past.

So, does WeChat have this level of consideration?

The answer is that there is no very clear signal yet.

Why do you say that?

Let’s cut in from a small perspective. As an industry observer, I have a small habit when studying Tencent, that is, I go to its recruitment website to see the latest recruitment positions of various business departments. The types and quantity of these positions reflect the work focus and tendency of the business group to a certain extent from a unique angle.

I have seen 51 non-technical posts related to business in the posts recently released by WeChat business group, among which 13 are related to video numbers, which are not too many. There are many posts such as "senior strategic product manager for live broadcast with video numbers" and "senior product manager for business operation of small shops with video numbers".

It can be seen that, at least from the perspective of recruitment, the video number team has no idea of focusing on the business for the time being, and still plans to continue to promote the business through its product strategy advantages.

However, my view is different from that of the industry. I think Zhang Xiaolong is by no means a product defender who sticks to some so-called obsession.

On the contrary, his figure is quite soft, facing the business reality and being thoroughly remoulded at the business level many times-

From Foxmail to QQ mailbox, it is a change from software thinking to internet thinking, from QQ mailbox to WeChat is a change from PC thinking to mobile genes, and from the minimalist rule in the early days of WeChat to the hug algorithm now is a change in product logic.

Any one of these changes is actually a "sudden change" level, but each turn is quite silky.

Therefore, in this sense, as long as it is really necessary in business judgment, it is not an unexpected thing for WeChat and video number to change their long-standing strategies and focus on business in the next short video amount competition.

At the same time, we should also see that WeChat has its own advantages objectively.

This advantage lies in the fact that it has a set of interwoven components established by WeChat official account, applet and enterprise WeChat, which has been imperceptibly embedded in various business links of many advertisers to some extent.

This kind of embedding has a moat effect, and the migration cost is very high. For example, an education company uses enterprise WeChat as its private domain, so the link in WeChat must be the smoothest in the advertising process, which has become an important advantage of video number advertising.

In the future, VideoNo. and Tik Tok will definitely meet each other in heavier businesses such as e-commerce and local life, and the victory or defeat of the battle depends on their traffic utilization efficiency.

Tik Tok has always been data-rational, and the distribution of traffic depends on the cold ROI. Behind the inclination of traffic to e-commerce, the profit-making efficiency of e-commerce is indeed high. Tik Tok has also poured a lot of traffic into games and hardware Pico, but it turns out that the ROI of the latter two is not ideal, so it is cut off cleanly.

The traffic of the video number is the same logic. Today, the landing page is a relatively large proportion of enterprise WeChat and small programs, and if the ROI of e-commerce and local life continues to improve, it will inevitably get a traffic share that matches its efficiency.

The distribution and center of gravity of video number in the future will determine its commercial competitiveness, and it will also be an important point of competition between video number and Tik Tok in the future.

At this time today, the competition in the short video market has already entered the deep water area, and the competition on the track has become an incomparably real mixed fighting, which is worse than physique, skill, endurance and logistics, and at the same time, it has fewer mistakes than anyone.

In the short video business, the user’s migration cost is actually not as big as expected. In the end, it is based on the long-term retention and realization of content ecology and user habits.

In this sense, how far the video number can go on the short video track, what kind of ceiling it can reach, and how to differentiate itself from Tik Tok and Aauto Quicker are still the most anticipated challenges for China Internet in the next few years.

Under the background that the Internet in China has changed hands, the second half of Touteng War will still be extremely exciting. Please move the small bench ~