Author/Pot Meat under the Starry Sky

Editor/spinach starry sky

Typesetting/small fish under the stars

In February last year, Peking University was applied for bankruptcy and reorganization by the bank because it owed money. In July this year, thunis also took the founder’s old road.

Let me explain first, both Founder of Peking University and thunis are bankruptcy reorganization, not bankruptcy liquidation. Literally, it looks the same, but the difference is not small. Liquidation is equivalent to the company’s hopeless. Let’s see how many assets are sold. If the creditors get a share, the company will be gone. Reorganization means that the company still has the value of survival, so find some investors or adjust the debt to help the company tide over the crisis.

For example, Peking University Founder, which entered bankruptcy and reorganization earlier, submitted a reorganization plan to the court on April 30th this year. China Ping An and Zhuhai Huafa (with Zhuhai State-owned assets behind them) became shareholders of Founder Group, and Founder was consolidated by Ping An.

Therefore, after the reorganization, the shareholding structure is affected, and the company is still operating. Those who say that Founder and Ziguang closed down are not strictly correct.

Although the reorganization is not so serious, the real problem exposed by bankruptcy reorganization is bankruptcy.

Founder of Peking University and thunis, one of the best school-run groups in China, have hatched a number of listed companies. Backed by Peking University and Tsinghua, there is no shortage of financial support and talents, and there is no need to pay too high salary. It can be said that he was born with a golden spoon in his mouth, so why did he go bankrupt?

1. M&A expansion, debt overload

On the surface, both Founder of Peking University and thunis are seriously overloaded with debts due to crazy expansion.

Peking university Fangzheng

Founder Group was founded by Peking University in 1986. Relying on the "Chinese character information processing and laser phototypesetting technology" invented by Academician Wang Xuan of Peking University, Founder Group almost monopolized the Chinese character newspaper market in just a few years.

However, with the market becoming more and more saturated, Founder’s growth rate slowed down, and by 1998, losses had already occurred. After that, Wei Xin, who taught at Peking University, was appointed to the Founder. The core of Wei Xin’s strategy is diversification, and the means of diversification is buying. So Wei Xin invited a giant Buddha-Li You who knows the capital game well. Please remember this person, which will be mentioned later.

After Li You joined, Founder Group gradually became a financial holding group from a purely technical enterprise. IT, finance, real estate, medical care and education are all involved. Founder Group’s current business map was formed at this time.

But the pace of mergers and acquisitions is too big, so you can only borrow if you have no money. In 2013, Founder Group’s asset-liability ratio has reached 65%, with liabilities of 62 billion. You know, at that time, the total income of the whole year was only 68 billion yuan, and it was impossible to repay the debt by profit.

The next development and expansion of Founder Group can only be based on constantly borrowing the new and returning the old. The assets are getting bigger and bigger, and the debts are getting more and more. By 2018, Founder Group will have total assets of 360.6 billion and liabilities of 295 billion. The asset-liability ratio has exceeded 80%. Once you can’t borrow money, the capital chain will inevitably break.

UNIS

Unlike Founder Group, Ziguang is still a technology group focusing on chips and clouds. But this technology giant can have the present size, and it is also the way to buy from buy buy.

In 2009, a new management took office. Zhao Weiguo, the chairman of the board of directors, thinks that our country’s technology is backward in making chips, so we should buy all the foreign ones back. After that, with the upsurge of chip development, it began to buy in 2013, covering chip design, chip manufacturing, chip packaging, memory chips and other sub-fields.

In less than ten years, Ziguang has engaged in dozens of mergers and acquisitions. In 2012, the group’s total assets were less than 7 billion, and in 2020, it was close to 300 billion. However, its liabilities have reached 200 billion.

Although Ziguang has been expanding in the field of chips around its main business, the characteristics of technology research and development are high investment and long-term return. At present, the profitability of the company acquired by Ziguang can’t even cover the debt interest, which eventually leads to high debts and unbearable burdens.

2. State-owned enterprise holding, prestigious school aura

Beneath the surface, there are two problems.

First, why can Founder and Ziguang borrow hundreds of billions of foreign debts?

Second, do Founder and Ziguang have no sense of debt crisis at all?

The first question is easy to answer. It is easy for state-owned enterprises, prestigious schools, Founder and Ziguang to borrow money. Just before Founder’s first debt defaulted, Founder’s credit rating was still 3A with a debt ratio of 70%+. So, as long as Founder can hold on, and don’t put such a thing as thunderstorm in the open, he can borrow money. It’s just that it’s getting more and more difficult, and finally the speed of borrowing money can’t keep up with the demand for paying back money.

As for the second question, it is complicated.

1. Non-profit shareholders, leverage to pry profits.

For companies, the smaller the debt, the better. If a company wants to make money, it definitely needs to invest first. This investment comes from two aspects, one is the money invested by shareholders, and the other is the money borrowed from outside.

Who are the shareholders of Ziguang and Founder? Tsinghua Peking University, a non-profit organization. I want to know that the school will definitely not invest too much money to run a business. But I want to make money, what should I do? At this time, the role of adding leverage is reflected.

Add leverage, that is, use small money to incite large funds. For example, shareholders invest in 100 yuan, and with this 100 yuan to refinance 200 yuan, the company can use 300 yuan to operate and make money. It is equivalent to a direct tripling of the scale of assets and profits. Of course, money is not borrowed for nothing, and you have to pay interest, but interest expenses can also save taxes. For Tsinghua Peking University, a shareholder with little money, there is no loss in any calculation.

2. The disadvantages of state-owned enterprises, enterprises and management interests are different.

State-owned enterprises, as the name implies, are state-owned. Therefore, as a leader, you must first make some achievements. Without the expansion of mergers and acquisitions, Founder and Ziguang can only be called enterprises now, not groups. As for the hidden dangers buried, that is the matter of the successor. Of course, the successor can also be said to be a problem left over from history. Hello, I am good and everyone is good.

And the interests are their own. Whether it’s the link of borrowing money or the link of acquisition, the Qian Qian transaction, more or less, carries the money right to trade behind it. Founder’s management once went to prison for insider trading. This story begins with the following restructuring of state-owned enterprises.

3. The restructuring of state-owned enterprises has become a struggle for equity.

Because there are many shortcomings in state-owned enterprises, our country has been promoting the restructuring of state-owned enterprises. Try to introduce high-quality social capital and revitalize state-owned assets.

As early as 2003, Founder of Peking University started restructuring. Introduced three companies and acquired 65% equity of Founder. However, these companies are actually controlled by Founder management. The core figure of management is CEO Li You.

This man is known as the rogue in the capital market. Backed by private capital groups, it has got its hands on many listed companies. Later, after entering Founder, the management was basically replaced by Li You’s relatives and classmates. At that time, Wei Xin, the chairman of Li Youjin Founder, was highly recommended, and he also became a group of friends and relatives of Li You. There is also the shadow of Wei Xin among the shareholders of the company introduced through restructuring.

In 2013, Li You quarreled with Zhengquan Holdings, an external ally, and the alleged insider trading of Founder management was uncovered. At the end of 2016, Li You was sentenced to four and a half years in prison and fined 750 million. However, at the beginning of the next year, he was released on bail for suffering from liver cancer.

In 2015, Founder returned to Peking University Assets for management. At this time, Peking University Assets began to investigate the restructuring of that year and found that Li You and others reduced the net assets of 2 billion to 80 million. Moreover, the money these people paid for the transfer price was illegally obtained from Founder, and they were really empty-handed.

Founder of Peking University has been developing in the hands of these people for more than ten years. Until now, Zhaorun Investment controlled by Li You still holds 30% equity of Peking University Founder. Moreover, Zhaorun Investment also sued Peking University Assets in turn, demanding the return of licenses and other information. Li You and others’ road to power has never stopped.

Thunis’s restructuring is later, and it seems that it is not as wonderful as Peking University Founder. Interestingly, however, the actual controller of Jiankun Investment, which holds 49% shares of Ziguang, is Zhao Weiguo, chairman of Ziguang.

State-owned enterprise executives are really rich when they can buy less than half of Ziguang Group.

3. Get rid of the baggage and get on the road easily

Ziguang and Fangzheng, blindly expanding, led to excessive debt. There will always be a thunderstorm debt, which will be the last straw to crush the camel. The reason for this situation is that on the one hand, because of the identity of state-owned enterprises and prestigious schools, financing is convenient; On the other hand, trapped by the ills of state-owned enterprises, the interest transfer is stealth.

However, with the support of funds and talents, Ziguang and Founder still have the value of reorganization even if they have many problems. Ziguang has received many technology companies, and it has indeed improved the overall technical level. There are really few companies in China that can compete with Ziguang.

Maybe bankruptcy is not a bad thing for these two companies. Early detection, early treatment, early recovery and early growth.

If you really lose your baggage, you don’t have to carry it.

Note: This article does not constitute any investment advice. The stock market is risky, so you need to be cautious when entering the market. No business, no harm.

[Editor’s Note]

In the previous column, the author introduced some basic laws in the field of urbanism. From this issue, the column "Explaining Cities" will focus on some important variables in cities, and interpret the general characteristics and laws of urban development through these variables.

In this issue, the article will focus on the regional GDP and see the similarities and differences between "big city" and "strong city" through the regional GDP.　

However, the GDP theory has long been abandoned in the assessment of officials.

However, at the end of the year and the beginning of the year, when the macroeconomic forecast for the next year is released, GDP is still an important indicator that cannot be separated.

Then, besides GDP, what other indicators can measure the economic strength of a country or city?　

I. GDP, GNP, GRP, GMP and GCP

Speaking of gross domestic product (GDP), I believe most people are no strangers.

Before World War II, countries generally used gross national product (GNP) to measure the intensity of economic activities of a country and region when studying national economic income and national economic growth.

In 1937, the then American economist simon Kuznets.(The winner of the 1971 Nobel Prize in Economics, also known as the father of GNP)In a report to the US Congress, it is proposed that a more improved method should be used to measure the final results of production activities of all permanent units in a country (or region) in a certain period of time. In 1953, the National Economic Accounting System (SNA) issued by the United Nations was established and widely adopted by all countries.

It was in 1991 that countries really compared GDP as a representative indicator of national strength and economic scale.

Over the years, the use of GDP to measure the economic scale and output of a country (or region) has been criticized. Some opponents believe that GDP ignores some non-market economic activities, GDP does not consider the consumption of resources and environment, and GDP does not represent residents’ income or wealth.

However, as a representative indicator of economic output and strength of a country or region, its status is still unshakable. The biggest advocate is the American economist Arthur Okun. He put forward the famous okun’s law, which, as an empirical rule, holds that the growth rate of actual GDP is faster than that of potential GDP.[Note: It is the economic growth rate that can be achieved when a country (or region) makes full use of various resources normally]Increase by 2% and the unemployment rate will drop by 1%. His law has been regarded as a standard by policy-making institutions in many countries. Reducing the unemployment rate by increasing the growth rate of real GDP is quite effective for a period of time.

Of course, there is also GDP at the city level, which is used to measure the final results of production activities of all permanent units in the city in a certain period of time. However, China’s official statistical agencies generally do not use the term urban GDP, but usually use "Gross Regional Product" (GRP) or regional GDP. The United States or Europe sometimes use the Gross Metropolitan Product (GMP) or the Gross City Product (GCP). Whether it is GRP, GMP or GCP, the meaning expressed is quite clear, that is, to measure the output scale of economic activities on a more microscopic geographical unit than a country (or region).　

Second, look at big cities and strong cities from the regional GDP of China and the United States

In the last issue, the author introduced the differences between Chinese and American county economic and administrative systems. In terms of GDP statistics, China and the United States also have huge differences.

The administrative boundary of China is strictly consistent with the statistical boundary. For example, the statistical department of Shanghai is only responsible for the statistics within the administrative scope of Shanghai, and the calculated GDP is usually strictly within the administrative boundary of Shanghai.

However, the statistics in the United States are not. Administrative boundaries and statistical boundaries are two different things. The accounting of GDP at the city level in the United States is based on the Core-based statistical area. In short, first find a populated area, and then add the surrounding areas to form a statistical area. According to the population density, the United States is divided into 392 metropolises and 547 micropolitan.

However, there are 333 municipal administrative units in China, which are not the same as the names of metropolitan areas in the United States, and it is easy to form a greater illusion of metropolitan areas in the United States.

In fact, regardless of population or area, the municipal administrative units in China are generally larger than the metropolitan statistical areas in the United States, such as 70,000 square kilometers in the largest metropolitan area in the United States and 250,000 square kilometers in the largest city in China. The most populous metropolitan area in the United States has 20 million people, while China has 30 million people.

Despite this, the regional GDP at the city level of the two countries also shows some similar characteristics.

One is imbalance.The city with the highest GDP in China is Shanghai, which reached 4.47 trillion yuan in 2022, equivalent to more than 660 billion US dollars, more than 800 times that of the lowest prefecture-level region. New york-Newark-Jersey City, the largest metropolitan statistical area in the United States, has a GDP of $2,163.2 billion in 2022, more than 600 times that of the lowest metropolitan area in the United States. The development imbalance between cities in the two countries is more than 100 times, and the scale-sequence map at the regional level of the two countries also conveys the same trend.

Second, it generally shows a superlinear relationship with the population.It is obvious from Figure 2 that there is a very consistent superlinear relationship between the regional GDP and the regional population in 2022. Through calculation, the allometric growth coefficients of both countries are 1.10. Especially, the logarithm of regional GDP and the logarithm of population in metropolitan areas of the United States are basically a straight line (the fitted R2 is as high as 0.96, and that of prefecture-level cities in China is as high as 0.81). This superlinear relationship also reveals the corresponding relationship between "big city" and "strong city" In the same economy, "big city" and "strong city" basically correspond. Every time the population size doubles, its GDP is expected to increase by 1.14 times (2 1.1-1 ≈ 1.14).

Table 1 Regional GDP statistics of metropolitan areas in the United States and prefecture-level cities in China in 2022

Figure 1 Relationship between GDP and ranking in the United States and China in 2022.

Figure 2 The superlinear relationship between GDP and population in China and the United States (the above picture shows the metropolitan statistical area in the United States, and the following picture shows the prefecture-level cities in China).

Third, are GPI and EF reliable?

GDP represents the economic output of a city, which, in addition to its own shortcomings, easily leads to the "GDP-only theory" of local governments.

In fact, at home and abroad once wanted to replace GDP with some indicators. Real progress indicator (GPI) is one of the important attempts. This indicator expands the traditional national economic accounting framework, including social, economic and environmental accounts (a little ESG! ）。 GPI calculates the net value of the positive and negative results of economic growth to test whether economic growth benefits all people.

In recent years, the Economic Fitness (EF) launched by the World Bank has also been regarded by many scholars as an important measure of a country’s comprehensive strength, which has been widely concerned and studied. From GDP to GPI to EF, whether these indicators describing the comprehensive strength of the country can be applied to the urban system still needs further study and exploration.

In any case, regional GDP is still one of the most important indicators reflecting the comprehensive strength of cities.

—–

The column "Explain the City" is presided over by Dr. Dai Yuehua from Shanghai Institute of Development Strategy. It pays attention to the frontier trend of urban science development, explains the general characteristics and laws of urban science and human behavior dynamics in cities, and explores the ways and methods to optimize urban governance by using frontier urban science theory.

　　Xinhua News Agency, Berlin, May 22 (Reporter Chu Yi) With the help of ancient pollen sealed in fossils, a research team composed of Leibniz University in Hanover, Germany and Bonn University traced the origin of angiosperms back to 123 million years ago, 2 million years earlier than previously recognized. Related results were recently published in the Journal of the National Academy of Sciences.
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　　The research team found pollen fossils in coastal sediments of Lusitania basin in Portugal. Through the analysis of the test samples, the researchers identified a typical three-furrow structure from four kinds of microfossils, that is, there are three small furrows on the pollen shell. The researchers said that 72% of the existing angiosperms still retain this morphological feature, which is the key basis for identifying this group.

　　In order to accurately date, the research team used relevant isotope dating techniques and biostratigraphic analysis to study mussel fossils in sedimentary layers. The analysis results not only advance the origin time of angiosperms by 2 million years, but also provide the most accurate and reliable evidence of the first appearance of dicotyledonous angiosperms so far. The study also shows that the geographical location of Lusitania basin shows that the early morphology of angiosperms was originally thought to have evolved only in the tropics, but in fact it may be more common in the middle latitudes than previously thought.

　　Despite the above breakthrough, the origin mechanism of angiosperms is still an unsolved mystery in the scientific community. You Liya Glavin Dick, a professor at Bonn University, who is in charge of the study, said: "Since Darwin’s time, when and where the development (of angiosperms) began is still a big mystery in biology." In addition, the specific impact of plate movement and large-scale climate change on angiosperm development is still unknown.

　　Not long ago, the fraudulent method of draining in the name of "crab card" exchange once rushed to the top of hot search. Unexpectedly, a short time later, fraudsters have touched a new hot spot, replacing the "crab card" with various so-called "double 11 delivery card and red envelope exchange card". The routine is still the same, tricking you into scanning the code to "redeem the prize" and finally falling into the trap of swiping a single rebate fraud.

　　Recently, some residents asked the community police to verify the authenticity of the delivery card in their hands. The "Pick-up Card" contains the small print of "Smart Home Appliances Pick-up Card, scan the code to pick up the goods in 0 yuan". Due to the recent "crab card" fraud, the cardholder was suspicious of the "delivery card" and decided to ask the police for verification.

　　In order to prove the scam, the police scanned the QR code on the card with their mobile phone, and a WeChat dialog box popped up, which was displayed as "Customer Service of a certain group". After providing the mobile phone number and the screenshot of the delivery card, they were prompted "This mobile phone number is wrong, please provide the mobile phone number of the goods received" …

　　The following story is exactly the same as the previous "crab card" scam: the liar will immediately let you into the group, and the accomplices will start to "pry the edge" to make you believe that this is true. If you don’t get something, you will lose, and you will use various routines to wait for you to believe it. If you don’t see through the scam, the other party will ask to download the APP and start the task of swiping the bill. In the early stage, you will gain trust with a small rebate. After asking for a large recharge in the later stage, you will not return the principal and rebate, so as to implement fraud.

　　Moreover, the "delivery card" fraud is not a case. Some residents have received similar "delivery cards and redemption cards".

　　Some "pick-up cards" claim that "you can get a cash reward of up to 10,000 yuan". The card not only reads the words "Uncover courtesy, win 100%", but also bears a picture of a well-known entrepreneur and the so-called two-dimensional code for redemption.

　　Some "pick-up cards" are sent to residents in the form of parcels. The parcels are rich in content, including not only a pack of wet tissues, but also a thank-you letter and a red well-known brand pick-up card. The words "Prepare for the Double Eleven, thank you" are written on the card, and a picture of a well-known entrepreneur is also printed. The back of the red pick-up card is printed with a QR code, which means that 0 yuan can exchange small household appliances such as electric toothbrushes or rice cookers of well-known brands.

　　These are all scams of the same type as the "crab card" scam. When double 11 comes, criminals have begun to deliver such express parcels containing "pick-up cards" and "red envelope exchange cards" for drainage. Generally, 0 yuan will be used as bait to attract people who don’t know the truth to scan the code and enter some drainage WeChat groups, and finally induce the victims to commit fraud of swiping a single rebate. ▼

　　The public must keep in mind the following three points when receiving unidentified express delivery:

　　one

　　First, there are "traps" behind the "free collar". For express parcels, QR codes or links of unknown origin, don’t scan or click at will to avoid revealing personal information and suffering economic losses.

　　2

　　The second is to log on to the official website to check the logistics information and courier information, and contact the courier by phone. For express delivery from unknown sources, it is necessary to insist on verifying the identity of the courier and the contents of the package.

　　three

　　Third, when there are gifts to be exchanged, please remain calm and verify the authenticity through official channels. Remember, anything that needs to be paid during the redemption process must be fraud!

　　From: Zhuhai Criminal Investigation

　　At 11: 14 on January 15th, China Eastern’s domestic C919 aircraft with flight number MU7811 successfully arrived in Qingdao. The flight from Shanghai Hongqiao International Airport to Qingdao Jiaodong International Airport for verification flight marks the addition of a new destination for the 100-hour verification flight of C919 aircraft.

　　On December 9th, 2022, China Eastern Airlines, as the world’s first user of C919, officially received the world’s first aircraft with the number B-919A, which marked that the domestic large aircraft industry began to shift from the "first half" of R&D and manufacturing to the "second half" of commercial operation. On December 26th, 2022, China Eastern Airlines C919 aircraft began its 100-hour verification flight. Before flying to Qingdao, C919 aircraft had intensively carried out verification flights in six airports in five cities including Shanghai, Beijing, Chengdu, Xi ‘an and Haikou. Follow-up will continue to travel to Jinan, Nanchang, Wuhan, Hefei, Nanjing, Taiyuan and other destinations to continue the verification flight.

　　It is understood that C919 will be officially put into commercial passenger operation in the spring of 2023 after completing the route verification flight. By then, C919 will appear in Qingdao, Shanghai, Beijing, Xi ‘an, Kunming, Guangzhou, Chengdu, Shenzhen and other routes. (Headquarters reporter Wang Wei Liu Dong)

　　On the evening of the 23rd local time, the Iranian army held the 11th "Sky Guard" air force military exercise, which covered multiple military bases across Iran. All kinds of bombers, fighter jets, drones, electronic warfare systems, etc. participated in the exercise.

　　Rudebari, spokesperson for the military exercise, said that in the first stage of the exercise, after the Iranian Su-24 bomber successfully bombed simulated enemy positions, the F-4 bomber used night raids and launched a missile to successfully destroy enemy ground targets. In addition, during the exercise that day, the tanker successfully refueled the F-14 fighter at low altitude.

The bombers attacked a hypothetical target (Image: Tasnim News Agency)

　　Rudbari said that the use of different types of laser missiles and rockets and other weapons to attack air targets at different altitudes and speeds is also one of the important components of this military exercise.

The moment the drone was launched (Image: Tasnim News Agency)

　　The Iranian military said the exercises were aimed at ensuring sustainable security, developing and consolidating regional relations and maintaining Iran’s air borders. Through the exercises, Iran sends a message of "friendship, peace and security" to countries in the region. (Li Jianan, reporter from the headquarters)

　　[car home Industry] In February, affected by the Spring Festival holiday, the overall sales volume of the automobile market declined to a large extent. After the Spring Festival, the "price war" quickly warmed up, and BYD took the lead in triggering a wave of car companies’ price cuts. At present, the development of the automobile industry has entered the deep water area, and the intelligent transformation has begun to speed up the shift. Huawei HarmonyOS Zhixing, Toyota and BYD have successively promoted the landing of high-level intelligent driving. In the future, the level of automobile intelligence will be the core element of market competition.

Data description:

1. Intelligent electric vehicle: a vehicle with pure electric energy, plug-in hybrid power (including extended range) and intelligent driving level above L2;
2. Class L2: A vehicle equipped with an adaptive cruise system and a lane keeping assist system as standard is considered to have a level L2 intelligent driving level;
3. Weighted selling price of cars: based on the quotations of dealers all over the country, the weighted selling price of cars in the current month is calculated by weighting the proportion of car clues. The terminal quotation of the models on sale under the car series and the proportion of the models concerned by consumers will affect the monthly fluctuation of the weighted selling price of the final car series;
4. Source of data: attention, clue number data, vehicle model data, new energy industry index data, etc. come from car home; Car sales come from market terminal sales data.

Download the full report and pay attention to WeChat official account of car home Research Institute. Just enter the keyword "Intelligent Electric Vehicle".

I. Market Sales Performance

■ Sales of new energy vehicles decreased month-on-month, and the proportion of smart cars reached a new high.

　　In February, the retail sales of passenger car market was 1.095 million, down 21.0% year-on-year and 46.2% quarter-on-quarter. The retail sales volume of the new energy vehicle market was 388,000 vehicles, down 11.6% year-on-year and 42.1% quarter-on-quarter. In February, the domestic retail penetration rate of new energy vehicles was 35.8%, which was 2.9 percentage points higher than that in January, but only 3.8 percentage points higher than that of 32.0% in the same period of last year. The year-on-year increase of penetration rate narrowed, so it is inevitable for car companies to launch a new round of "price war" to compete for the stock market at this moment.

　　Qin PLUS, who took the lead in price reduction in February, won the new energy sales list, while Tesla’s Model Y and Wenjie M7 () ranked second and third in the sales list. In addition, BYD’s five cars, namely Seagull, Song PLUS New Energy, Song Pro New Energy, Dolphin and Yuan PLUS, ranked in the top ten in the sales list. In addition, Hongguang MINIEV and Ideal L7 ranked sixth and ninth in the sales list. Due to the overall decline in sales in February, only the top six cars on the list sold more than 10 thousand.

　　In February, Top 5 smart car brands were BYD, Tesla, AITO Wenjie, LI and Weilai. Among them, BYD’s market share continued to decline by 1.8 percentage points month-on-month, accounting for 17.4% of the total sales of smart electric vehicles. AITO ranks third in the list of smart car hot-selling brands, surpassing LI. In February, the sales of Weilai and Extreme Krypton dropped slightly, ranking fifth and sixth among the best-selling brands of smart cars.

　　Looking at the sales rankings of various cars of smart electric vehicles, Model Y returned to the top of the list, while M7, which had the highest sales volume last month, ranked second with a gap of more than 1,000 vehicles, and they formed the first echelon of smart electric vehicle sales. Ideals L7, L8 and L9 rank third, fifth and eighth in the smart sales list. BYD only entered the top ten of the smart car sales list with three cars: Han, Song Pro New Energy and Song L. Competing in the stock market, BYD is bound to be intelligent. In the 2024 Dream Day held on January 16th, Wang Chuanfu, chairman of BYD, once revealed that "BYD will invest 100 billion yuan in the field of intelligence in the future, leading the development direction of new energy vehicles along the technical route of vehicle intelligence."

■ The sales volume of smart plug-in hybrid cars has dropped significantly.

　　In February, the sales volume of smart electric vehicles decreased by 40.4% from the previous month to 208,000 units. The sharp drop in overall sales has an impact on the proportion and pattern of various vehicle categories. Among them, the sales volume of smart plug-in hybrid vehicles declined the most, with the sales volume falling to 55,000, which was the same as that of intelligent extended-range vehicles. This is directly related to the decline in BYD sales last month. In addition to Qin PLUS new energy, BYD’s Song Pro new energy, Song PLUS new energy, Tang New energy, Han New energy and other car sales all showed a significant decline.

　　In terms of models, the sales of smart electric vehicles of all models declined in February. Among the cars that have sold more than 2,000 vehicles, the sales of Qin PLUS, which has just reduced its price, have increased, and only the sales of Wei brand Lanshan DHT-PHEV have increased slightly in SUV models. The intelligent MPV model saw the biggest decline, with the sales volume falling to 4.3%, and only 0.9 million vehicles were sold. In February, the sales volume of Tengshi D9 decreased by 50% month-on-month. Tucki X9, which just went on the market, ranked second in the sales list of intelligent MPV models, but it was only about one third of the sales volume of Tengshi D9.

Second, the heat of automobile consumption

■ The proportion of new energy concerns has reached a new high, and the proportion of smart cars has dropped.

　　According to car home Big Data, the proportion of attention to new energy sources rebounded in February, up 2.0 percentage points from the previous month, the highest level in history since statistics. The proportion of people concerned about smart electric vehicles declined, down 2.1 percentage points from the previous month to 64.1%. In the meantime, we can see that new energy vehicles with low proportion of smart driving configuration have received more attention this month. Among them, the representative models are Qin PLUS and destroyer 05, both of which have increased their attention by more than 200%.

■ New energy vehicles: The popularity of mainstream brands in China increased year-on-year

　　In the overall new energy market, except for the mainstream brands in China, the proportion of attention of other brand types has decreased. The proportion of attention of mainstream brands in China increased by 6.6 and 1.8 percentage points year-on-year to 58.4% respectively. Among them, the number of followers of BYD’s various cars represented by BYD Qin PLUS has greatly increased. In addition, the attention of Wuling Xingguang, Chang ‘an Qiyuan A05 and Deep Blue SL03, which also responded to the price adjustment, has also been greatly improved.

　　In terms of specific brands, among overseas mainstream brands, Honda and Toyota are equally concerned, and Kia ranks fifth in the attention list with the newly listed 2024 EV5. Among China’s new power brands, Weilai’s 2024 full-range models went on the market, helping Weilai surpass Tucki and rank third in the attention list. Among the mainstream brands in China, BYD’s attention proportion increased by nearly 10 percentage points from the previous month to 35.0%.

■ Smart cars: The popularity of mainstream brands in China increased year-on-year, while that of Tesla decreased year-on-year.

　　In the smart electric vehicle market, the proportion of attention of mainstream brands in China also increased by 7.2 and 0.5 percentage points year-on-year to 47.7%, which was higher than that in the overall new energy market, but lower than that in the overall new energy market. It not only reflects the long-term trend of improving the intelligence level of mainstream brands in China in the past year, but also shows the short-term strategy that mainstream brands in China take the lead in launching a "price war" on low-priced models to get attention.

　　In terms of specific brands, among the new power brands in China, Gaohe Automobile, which announced the suspension of production, ranked fifth in the attention list, mainly because of the negative news that attracted onlookers, and the number of followers of its several models increased by more than 70% month-on-month. Among the mainstream brands in China, Tengshi D9′ s 2024 model went on the market, and Tengshi rose to the third place in the attention list.

■ Medium-sized cars pay attention to the decrease in heat, while medium-sized and large MPVs pay attention to the increase in heat.

　　In terms of vehicle types, in the overall new energy market, the proportion of year-on-year attention of mini-cars and medium-sized cars has declined. Although the proportion of compact cars decreased by 0.3 percentage points year-on-year, it increased by 2.9 percentage points month-on-month, reaching the same level as medium-sized cars and medium-sized and large cars, and the proportion of all three was around 11%.

　　Compact cars are the main battlefield of this round of "price war", and the models with the largest increase in the proportion of concern are BYD Qin PLUS, destroyer 05 and Changan Qiyuan A05. The popularity of medium and large MPVs continued to increase, increasing by 1.9 and 0.2 percentage points year-on-year to 4.5% respectively, among which the number of followers of Tengshi D9, Lantu Dreamer and other cars increased greatly.

　　Looking at the smart electric vehicle market, the attention proportion of medium-sized cars has dropped the most in the past year, with the decline of attention of Tesla Model 3, BMW i3 and Tucki P7 as the representatives. The medium-sized and large SUVs and large SUVs have the highest year-on-year increase in attention. These two types of vehicles have high intelligent configuration rate, leaving a large room for China brands to increase. Among them, the successful performance of ideal L series, Wenjie M series, Wangwang U8 and tank new energy in the market is enough to prove it.

■ AITO asked the world to surpass Tesla and ranked first in the attention of new forces.

　　In February, Tesla’s attention was surpassed by China’s new power brand AITO for the first time. It can be seen from the top ten hot cars of new power brands that Tesla is wrestling with the world of inquiry, with M7 and M9 in the first and fourth places respectively, while Tesla’s Model Y and Model 3 are ranked second and third, and M5 is ranked eighth in the world of inquiry. Weilai once again surpassed Tucki with the listing attention of all the 2024 new models, and the former "Wei Xiaoli" has now become the second echelon of the new power attention list. In February, the top ten hot cars were Zero Run C11 and Aouita 12.

Third, intelligent product analysis

■ In February, 138 new energy vehicles were launched, and smart new vehicles accounted for 69.6%.

　　In February, 138 new cars were launched by New Energy, and the number of new cars listed decreased by 2.1% year-on-year and increased by 29.0% quarter-on-quarter. In February, the intelligent allocation rate of new cars listed on the market increased from the previous month, with a total of 96 smart new cars listed, accounting for 69.6%. The new car comes standard with L2 intelligent driving capability, and the lowest price is the 2024 Longteng version of 1.5TD-DHT Pro 100KM excellent model of Geely Emgrand L HiP, with a guide price of 99,800 yuan; The highest price comes from the first limited edition of the 2024 Hi4-T from Tank 700 New Energy, with a guide price of 700,000 yuan.

■ In February, the overall level of intelligent configuration of new cars rebounded.

　　The intelligent configuration level of new cars listed in February was 69.6%. With the penetration of autonomous driving technology into low-priced vehicles and the gradual landing of advanced self-driving technology, it is estimated that the overall L2-class self-driving function of new vehicles will account for about 60% in 2024. At the same time, in addition to the intelligent basic configuration, the intelligent networked car will pay more attention to the user experience and provide more intelligent and personalized services, such as intelligent suspension system, high-level cognitive intelligent cockpit and smarter voice assistant.

■ All new cars listed above the price of 200,000 basically realize L2 self-driving configuration.

　　　The following figure analyzes the distribution of new cars and smart new energy vehicles in each price range. Among the new energy vehicles listed in February, one new car with a price below 100,000 has reached the smart car standard. The most new models are listed at the price of 100,000-200,000, and the intelligent configuration rate has reached 58.2%. Only one car with a price of more than 200,000 yuan has no L2 self-driving configuration as standard. The average guide price of new smart cars listed was 272,000 yuan, and the median was 210,800 yuan, both of which were lower than last month.

Fourth, the market price trend

■ The new model of Krypton 001 went on the market, and the weighted quotation rose; The new destroyer 05 comes on the market, and the starting price is lowered.

　　In February, the top five cars with the weighted price increase in the smart electric car market were: Extreme Krypton 001, Yuanhang Y6, Toyota bZ3, Baojun Yunduo and Panamera New Energy. The increase in the weighted quotation of Krypton 001 is due to the launch of new models and the increase in the number of clues of high-priced models. Yuanhang Y6 is due to the fluctuation of weighted quotation caused by the unstable clues of various price models just listed in December last year.

　　The top five cars whose weighted selling prices have dropped are: Destroyer 05, Mercedes EQS, Changan Qiyuan A05, Nezha S and BMW i7. The decrease of the weighted selling price of destroyer 05 and Chang ‘an Qiyuan A05 was affected by the official downward adjustment of the guiding price in this round of "price war". The decline in the weighted selling price of Mercedes-Benz EQS is due to the dealer’s downward adjustment of the quotation.

■ Mercedes-Benz EQC dealer quotation is raised; The new Buick E4 model is on the market, and all the prices are reduced.

　　Among SUVs, the top five cars with weighted price increases are: Mercedes-Benz EQC, Lexus UX New Energy, BMW iX3, Kia EV5 and Roewe RX5 eMAX. The increase in the weighted selling price of Mercedes-Benz EQC is due to the dealer’s upward quotation. The increase in the weighted selling price of Lexus UX new energy is also due to the increase in the dealer’s quotation, and the proportion of clues of high-priced models has increased.

　　The top five cars whose weighted selling prices have dropped are Buick E4, Jennisys GV60, Audi Q4 e-tron, Audi e-tron (imported) and Yuanhang H8. Buick E4 is also a participant in this round of "price war". The price of the new Buick E4 has been adjusted, with a decrease of 27,000-30,000 yuan, which has brought down the weighted selling price. The main reason for the decrease in the weighted selling price of GV60 is that the dealer has lowered the quotation, and the distribution of clues of different price models fluctuates due to the launch of new models.

　　After the Spring Festival, the automobile market was swept by a vigorous wave of price reduction, and 2024 will be a crucial year to determine the future market structure. Car companies grit their teeth and make efforts at the same time in price control and intelligence level. In 2024, the intelligent networked automobile industry will continue to grow, and the growth space will shift from "quantity" to "quality" and "new". Technological innovation and policy support will be the key factors to promote the development of the industry. When the competition in the new energy automobile market shifts from incremental market to stock market, the competitiveness of automobile enterprises will be more reflected in the intelligent level. (Text/car home Research Institute)

On May 6th, the second Digital China Construction Achievement Exhibition held in Fuzhou, Fujian Province was opened to the public. The picture shows people visiting in front of the sand table for comprehensive management of smart cities. Xinhua News Agency reporter Lin Shanchuan photo

On May 6th, at the 2nd Digital China Construction Achievement Exhibition, the staff of a company in Guangzhou (left) introduced AI artificial intelligence consumer behavior recognition. Xinhua News Agency reporter Lin Shanchuan photo

On April 24th, Anhui Innovation Museum opened and Anhui Science and Technology Innovation Achievements Transformation Fair was held in Hefei. The picture shows the scene on the opening day. Photo by Xu Qingyong (People’s Vision)

　　Intelligent fitting machine can generate 3D model, which can help users try on multiple clothes at one time. Build a "financial space capsule" of the Bank to realize the free switching between self-service and manual service … Recently, the "black technology" unveiled at the second Digital China Construction Summit was refreshing.

　　The theme of this summit is "Cultivating new kinetic energy with informationization, promoting new development with new kinetic energy, and creating new glory with new development". During the summit, the National Internet Information Office released the Report on the Construction and Development of Digital China (2018). According to the report, the scale of digital economy in China reached 31.3 trillion yuan in 2018, accounting for 34.8% of GDP.

　　Behind a series of new figures is the vigorous development of digital China and its new changes and trends in government affairs, economic development and daily life. The construction of digital China, which has entered the fast lane, is profoundly changing the production and lifestyle of China people.

Digital government: big data solves "small troubles"

　　Digital government is the main battlefield to enhance people’s sense of digital acquisition.

　　Under the background of building a digital China, more and more cities have begun to promote the construction of digital government. Digital government is the product of the deep integration of public governance and digital technology. It is a government that speaks, manages, makes decisions and innovates with data. It is a demand-oriented and public-responsive government, and it is a powerful support for a powerful network country, a digital China and a smart society. "Run at most once", "Don’t meet for approval" and "Do it through one network" … Digital government uses big data to solve the small troubles of residents, making it easier for everyone to do things, and the people’s "sense of digital acquisition" is on the rise.

　　According to the 2018 United Nations E-government Survey Report, the online e-government service index of China ranks 34th, and the popularity of online services of China people has already led the world. Internet giants, including Alibaba, Tencent and Baidu, have joined the digital government market to help the government’s urban construction. And local governments are also accelerating the construction of local "digital government affairs" to provide more convenient and efficient services for the masses.

　　In late March of this year, illegal traffic payment in Fujian realized online payment. Car owners not only did not have to run the bank, but also could bind other people’s vehicles to help their families pay the fees. In just one month, 400,000 people have used this service. Fujian is also the first province in the country to handle traffic fines in different places in the province. Behind this is not only the innovation of Fujian traffic police department, but also the reform of non-tax revenue payment method by financial department. The relevant person in charge of the non-tax department of Fujian Provincial Department of Finance said: "Paying non-tax income is an important link in handling many government affairs, and whether the payment is convenient or not will directly affect the public’s satisfaction with government services."

　　In the aspect of handheld government affairs, the "Chongqing Express Service Platform" opened by the Chongqing Municipal Government has launched 564 government affairs services closely related to people’s lives, with an average daily volume of more than 100,000, and the total volume has exceeded 30 million, making it one of the provincial mobile government affairs service platforms with the largest number of online services, the widest service channels and the strictest efficiency supervision. "Internet+government service" is gradually becoming a way of life for people in mountain cities.

　　In 2018, the Jinan Municipal Government wrote a mobile phone application software named "Love City Network" into the local government work report. Provident fund withdrawal, social security inquiry, city-wide appointment registration, real-time bus inquiry … With nearly 100 services launched one by one, Jinan’s urban services are seamlessly connected with people’s lives, making life more convenient and comfortable. As of May 8, the number of users in Jinan has exceeded 4.1 million, that is to say, one in every three Jinan people handles affairs online.

　　From the data of Alipay platform, not only Zhejiang, Jiangsu, Shanghai, Guangdong, Fujian and other coastal areas are outstanding in digital government affairs, but also many mainland provinces are not to be outdone. Especially in Jiangxi, on the afternoon of November 12, 2018, Jiangxi government service "Fufutong" was officially launched. "Ganfutong" launched dozens of electronic documents such as teacher’s card, tour guide card and birth medical certificate on Alipay platform.

　　2018 is also a year of rapid development of the "One Netcom Office" government service applet. The "One Netcom Office" applet from 16 provinces and cities has settled in Alipay, with an access rate of 90%. The development of small programs provides a channel for "One Network Office" to reach users quickly.

　　It is worth mentioning that the people covered by digital government are not only young people. Hu Xiaoming, president of Ant Financial Services, gave an interesting example to illustrate that an 87-year-old professor from Tsinghua learned to write a thank-you letter after Alipay turned over the water, electricity and coal. He said that there are already hundreds of millions of people working on Alipay, and the oldest user is 95 years old.

Digital economy: "People-oriented" is really convenient.

　　"In 2018, the scale of digital economy in China reached 31.3 trillion yuan, accounting for 34.8% of GDP." This set of data released by the second Digital China Construction Summit shows that China has made remarkable achievements in the development of digital economy. It can be said that digital economy is gradually becoming the core driving force of China’s economic growth.

　　In 2016, the G20 Hangzhou Summit released the G20 Digital Economy Development and Cooperation Initiative, which pointed out that the digital economy refers to a series of economic activities with the use of digital knowledge and information as key production factors, modern information networks as an important carrier, and the effective use of information and communication technologies as an important driving force for efficiency improvement and economic structure optimization. The application of Internet, cloud computing, big data, Internet of Things, financial technology and other new digital technologies in the process of information collection, storage, analysis and sharing has changed the way of social interaction. Digital, networked and intelligent information and communication technologies make modern economic activities more flexible, agile and intelligent.

　　Undoubtedly, in the field of digital economy, China is at the forefront of the world. "The growth rate of China’s digital economy has ranked first in the world for three consecutive years". According to research and analysis by Shanghai Academy of Social Sciences, the digital economy in China has been growing rapidly in recent years, and it is predicted that the growth rate of China’s digital economy will remain at around 15% in 2019.

　　At the same time, the digital economy is gradually influencing and changing the real economy. Taking china state construction engineering corporation as an example, in recent years, China Construction has gradually integrated informatization with the traditional construction industry, and built a three-dimensional development pattern of "cloud+network+terminal". Make standard work flow, process work information, information work data and data utilization intelligent, and realize "digitalization, networking and intelligence" of the project site. In the construction of Xuzhou rail transit, the digital construction of the project has been realized, which has effectively controlled the quality, safety, progress and cost of the project. Among them, Xuzhou Metro Line 1 integrates information technologies such as GIS, VR, Internet of Things, mobile internet, big data, etc., purchases high-tech materials around the world, and successfully breaks through many technical difficulties.

　　Song Xuan, chairman of China Construction East China Company, said in an interview with this newspaper: "Infrastructure construction is the key link to strengthen and expand the real economy. Due to the rising costs of labor, resources and environment, the development mode driven by low factor costs is unsustainable, and it is necessary to change from factor-driven, investment-driven to innovation-driven Concepts and technologies such as digitalization, transparency, people-oriented and coordinated development will gradually be organically integrated with urban infrastructure and large-scale infrastructure construction and development, thus effectively promoting the construction and development of new smart cities. "

　　The continuous upgrading of consumption patterns has gradually become a new engine for the development of digital economy. In 2018, the e-commerce transaction volume in China was 31.63 trillion yuan, and the online retail sales exceeded 9 trillion yuan. Behind the massive data is the real pulse of the vigorous development of online and offline digital economy. In front of the booth of Shenlan Technology in the second Digital China Construction Achievement Exhibition, there was also an automatic vending cabinet using the latest hand pulse recognition system, which gave convenient shopping a new experience beyond "brushing face". The so-called hand vein is the venous vascular system 0.3 mm below the palm skin. Compared with fingerprint recognition or face recognition, it has higher confidentiality and faster payment than brushing face. In the future, these payment methods will gradually become the new normal in people’s consumption life.

　　Internet giants are also eagerly embracing the digital economy. Over the years, Alibaba has continued to support the development of the real economy with technologies such as the Internet, big data, cloud computing and AI technology. In order to solve the difficult and expensive financing problems of grassroots people, Ant Financial gradually "went to the grassroots level" and established a credit evaluation system based on big data integration, which provided better online credit resources for rural areas and small and micro enterprises. Nowadays, the digital economy has "flown into the homes of ordinary people", which not only brings immediate benefits to the people, but also greatly promotes consumption and injects strong impetus into economic and social development.

　　In addition, the rapid development of digital economy has also changed people’s payment methods. According to the data from Alipay, more than 95% of physical stores in Fuzhou have realized mobile payment, and the group of "coders" continues to grow. The so-called code quotient refers to small businesses that do business through QR codes. They not only collect money through Alipay, but also realize digital operation through QR code, and can obtain a series of services such as loans, finance, insurance and promotion.

　　"Digital China cannot be built without small and micro operators, who are important participants and co-builders of the digital economy. They can make the city life better and make the people feel happier. This group is the star of tomorrow and the source of vitality of China’s economy. They need to be concerned, respected and supported. " Jing Xiandong, chairman and CEO of Ant Financial, said that Alipay and Ant Financial should use technology to help small and micro operators catch up with digital express trains.

Digital life: the little assistant of thousands of families

　　"As of December 2018, the number of netizens in China reached 829 million, and the Internet penetration rate was 59.6%; On February 28th, China Internet Network Information Center (CNNIC) released the 43rd Statistical Report on Internet Development in China (hereinafter referred to as "Report"), as an official report published every six months, which is also a "big inventory" of the digital life of netizens all over the country.

　　According to the Report, as of December 2018, the number of online shopping users in China reached 610 million, with an annual growth rate of 14.4%. In 2018, the revenue of e-commerce platform in China was 366.7 billion yuan, with a year-on-year increase of 13.1%, which still maintained rapid growth. Among them, the platform revenue was the highest in the fourth quarter, reaching 114.7 billion yuan.

　　"buy buy Buy" is still expanding offline. As of December 2018, the number of mobile phone online payment users in China is 583 million, and the proportion of netizens who use mobile phone online payment has increased from 65.5% at the end of 2017 to 67.2%. In terms of cross-border payment, Alipay and WeChat payment have been accessed in compliance in more than 40 countries and regions respectively.

　　In addition, "obedient" household appliances, cars that can be driven without leaving home, and well-served artificial intelligence are coming into people’s lives, bringing practical fresh experiences. At present, artificial intelligence has gradually become a close assistant in people’s homes. Intelligent door lock, intelligent monitoring, intelligent curtain, sweeping robot … Smart home has solved many problems in daily life. Smart home is an intelligent control system, which uses comprehensive wiring, network communication, safety precautions, automatic control and other technical means to realize the integration of home facilities, thus building a safe, efficient and intelligent management system and creating a comfortable, comfortable and worry-free living environment for users. On the platform of smart home, people can realize remote control of home appliances, doors and windows according to their own needs, and can also make personalized settings according to their own hobbies.

　　In addition, digital life is gradually changing the medical industry. At the exhibition of the 2nd Digital China Construction Summit, Tencent displayed a digital product called "Looking for Shadows". The on-site staff told this newspaper that Tencent Yingying is a product that applies artificial intelligence technology to the medical field. Tencent must first carry out in-depth learning-through the study of desensitization case files in key departments of cooperative hospitals, accumulate diagnostic ability. Then AI (artificial intelligence) aided diagnosis can be carried out. The staff said that this is a "life-saving AI". Tencent took less than 4 seconds to screen an endoscopic examination, and the detection rate of early esophageal cancer was as high as 90%. The addition of AI has greatly improved the doctor’s reading speed, diagnostic efficiency and accuracy.

　　It is worth mentioning that digital technology has also extended to the catering industry. The new smart restaurant "Haidilao", a giant in the hot pot industry, introduced robot waiters, and a series of services were completed by robots, from ordering, serving and even singing birthday songs. After the customer selects the bottom of the pot and the side dishes through the iPad, the robot worker in the back kitchen of the restaurant will automatically put the rinse on the robot waiter, and then the robot will automatically identify and navigate to find the designated table number and send it to the guest’s table. Haidilao Smart Restaurant attracted the attention of a large number of diners and became a "online celebrity Store". Many people specially went to the store to experience "black technology". Some netizens commented: "The food delivery robot shuttles among diners, and it is still very wronged if it can’t get through the crowd. The bathroom also has an intelligent design. When you look up, you can see the exhaust system on the roof. After eating the hot pot, there will be no taste. " (Yang Junfeng Lin Wenmin Qin Si Ren Linzhi)

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As a high-end business car built by Hongqi, the exterior design of the EH7 shows the perfect combination of refinement and atmosphere. The front face design adopts the family-style iconic straight waterfall air intake grille, and every line is full of power, highlighting the unique charm of the brand. The body lines are smooth, and the overall style presents a stable and luxurious business temperament. Whether it is the carving of details or the overall proportion, it shows Hongqi’s unique understanding of luxury cars.

As a luxury business car, the side design of the Hongqi EH7 is elegant and exquisite. The body size reaches 4980mm*1915mm*1490mm, and the wheelbase is up to 3000mm, creating a spacious and comfortable interior space. The smooth lines on the side of the car show the elegance of the Hongqi brand. The tire specification is 245/50 R18 in the front and 245/50 R18 in the rear. The exquisite wheel rim design not only enhances the driving stability, but also enhances the overall visual beauty.

In terms of interior, the Hongqi EH7 shows the brand’s attention to detail with its exquisite and luxurious style. The center console is equipped with a large 15.5-inch touch screen, which is smooth to operate and full of technology. It integrates convenient functions such as multimedia system, navigation, phone and air conditioning, so that users can grasp the information they need at any time. The steering wheel is made of fine-textured leather material, which provides a comfortable grip and supports manual up and down + front and rear adjustment to adapt to different driving needs.

In terms of seats, imitation leather and leather/fur materials are mixed and matched to provide a comfortable ride experience. The front seats are equipped with heating, ventilation and headrest speaker functions, so the driver can enjoy all-round comfort and convenience. The driver’s seat also has a power seat memory function to ensure that the driver can always find the most comfortable sitting position. The rear seats support proportional reclining, providing passengers with flexible storage and space utilization. These configurations reflect the careful design of the Hongqi EH7 for interior space and comfort.

The Hongqi EH7 is equipped with a powerful engine with a maximum power of 253 kW, providing ample power support. At the same time, the maximum torque of this engine reaches 450 Nm, ensuring excellent performance in various driving scenarios. This configuration makes the Hongqi EH7 perform well during driving, meeting the driver’s demand for efficiency and driving pleasure.

Summarizing the owner Autohome’s evaluation of the Hongqi EH7, he has a unique and personalized view of the appearance. He believes that the atmosphere and design uniqueness of the real car are impressive. Although the label change is a little regrettable, the recognition is still outstanding. However, he also pointed out the problem of the tail light design and the configuration of the flag light, and believes that some details can be further optimized. For those potential buyers who judge by pictures alone, he strongly recommends to experience the real car in person and feel the charm of this model.

Nowadays, many consumers do not pay much attention to the cost of using a car. They are more concerned about whether a car can meet individual needs. I don’t know what you think of domestic cars, but today I want to introduce domestic cars to you. Let’s take a look together.

Take a look at the appearance of the Hongqi EH7 first. The front design of the Hongqi EH7 is very simple and looks very personalized. Then with the headlights, the visual impact is full. The car is equipped with LED daytime running lights, automatic opening and closing, delayed closing, etc. Come to the side, the body size of the car is 4980MM*1915MM*1490MM, the car adopts stable and atmospheric lines, the side looks very dynamic, with large-sized thick-walled tires, smooth lines run through the entire side of the car. Looking back, the rear looks very angular, and the taillights show a young design style, which is very avant-garde.

Coming to the Hongqi EH7 car, the interior of the Hongqi EH7 adopts a deep shape, and the overall design atmosphere is still relatively in place. The appearance of the steering wheel of the car looks very good, equipped with electric up and down + front and rear adjustment, steering wheel memory, steering wheel heating and other functions, everything looks very beautiful. Let’s take a look at the central control. The car is equipped with a touch-sensitive LCD central control screen, which makes the interior style impressive. The overall design of the central control is remarkable. Let’s take a look at the dashboard and seats, which highlight the trendy temperament. The car uses leather seats, which are well-wrapped and have good support and comfort.

Hongqi EH7 matching gearbox, 455KW, 756N.m, power performance is good.

The car is equipped with vehicle to everything, driving mode selection, remote control key, Bluetooth key, interior ambient light, traction control (ASR/TCS, etc.) and other configurations. The configuration performance is quite good, bringing a comfortable car experience to the driver and occupant.

This level of models is usually the first choice for most people. Firstly, the price is not expensive, and secondly, all the configurations are quite complete, so it is still worth buying. You might as well go offline to experience it more on weekends.